Indices got a huge boost from ECB where a pledge was made for buying short term bonds with "no limit".
S&P 500 & Nasdaq closed @ "absolute high of the day"...DOW closed few ticks from absolute high....all on higher volume.
S&P 500 closed @ new multi-year high @ 1432.12
RSI @ 67.38
CMF @ 0.190
Internals were :
UP volume led by 13.72 to 1 in NYSE & 7.72 to 1 in Nasdaq
Advancing stocks led by 3.82 to 1 in NYSE & 3.74 to 1 in Nasdaq
New net 52 wk highs were leading by 280 in NYSE & 152 in Nasdaq
VIX down 12.06% @ 15.60
Stocks which were UP 3% or more included LVS,LEN,
JCP,KORS,COH,CMG,LNKD,GG,GMCR,LRCX,
MU,SNDK,BRCM,JDSU,CIEN,C,FCX,NVDA,
BWLD,MOS,X,APKT,SINA,MGA,BAC,MS,
GS,IBN......
AH News ADNC Down 53.61%
AH Futures Mixed
AH Asian Markets UP
AH Oil & Gold Down
About market, all indices closed @ multi-year highs,Just about every index closed @ absolute high of the day. The way we closed, there is more highs to come, technically indices are in overdrive. Jobs report MAY get us in "further euphoria"...IF that happens, it will be wise to book profit by close.
BLOG does NOT give buy or sell.
Saleem
Thursday, September 6, 2012
Indices UP 1.66% to 2.00% on ECB decision......
ECB gave a "much needed boost" to world markets.
Spain & Italy exchanges UP close to 5%
S&P 500 @ new 52 wk high, currently 1429.26
Internals are positive by almost 4 to 1
Oil UP 68 cents
Gold UP $12.70
Canadian $ UP 81 tick @ 101.79, new high since April
VIX Down 9.41% @ 16.07
In my portfolio :
Bought OCZ @ $4.13
Portfolio is EXPE,LVS,LEN,OCZ,TCK
Exposure 77%
Most stocks are UP
@ 2.18 following are down :
OCZ,YELP,ARNA......
BLOG does NOT give buy or sell.
Saleem
Spain & Italy exchanges UP close to 5%
S&P 500 @ new 52 wk high, currently 1429.26
Internals are positive by almost 4 to 1
Oil UP 68 cents
Gold UP $12.70
Canadian $ UP 81 tick @ 101.79, new high since April
VIX Down 9.41% @ 16.07
In my portfolio :
Bought OCZ @ $4.13
Portfolio is EXPE,LVS,LEN,OCZ,TCK
Exposure 77%
Most stocks are UP
@ 2.18 following are down :
OCZ,YELP,ARNA......
BLOG does NOT give buy or sell.
Saleem
Wednesday, September 5, 2012
Dow closed green....NICE !!!!
Indices closed mixed with Dow showing a green close.
S&P 500 closed @ 1403.44
RSI @ 53.85
CMF @ 0.153
Internals were :
UP volume led by 1.06 to 1 in NYSE & .96 to 1 in Nasdaq
Declining stocks led by 1.10 to 1 in NYSE & 1.23 to 1 in Nasdaq
New net 52 wk highs were leading by 138 in NYSE & 76 in Nasdaq
VIX closed Down 1.33% @ 17.74
In my portfolio :
Sold NTES
Doubled my position in LEN @ $32.88
Portfolio is EXPE,LVS,LEN,TCK
Here is my portfolio weighting :
LEN 36.50%
LVS 23.93%
TCK 20.29%
EXPE 19.28%
Exposure 73%
AH ER :
PAY Down 11.02%
OCZ Down 21.08%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, stage is all set for ECB President Mario Draghi to deliver, i am hopeful that his details should impress world markets. IF there is EUPHORIA, do not forget to book profit. After euphoria there may be a long digestive phase.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1403.44
RSI @ 53.85
CMF @ 0.153
Internals were :
UP volume led by 1.06 to 1 in NYSE & .96 to 1 in Nasdaq
Declining stocks led by 1.10 to 1 in NYSE & 1.23 to 1 in Nasdaq
New net 52 wk highs were leading by 138 in NYSE & 76 in Nasdaq
VIX closed Down 1.33% @ 17.74
In my portfolio :
Sold NTES
Doubled my position in LEN @ $32.88
Portfolio is EXPE,LVS,LEN,TCK
Here is my portfolio weighting :
LEN 36.50%
LVS 23.93%
TCK 20.29%
EXPE 19.28%
Exposure 73%
AH ER :
PAY Down 11.02%
OCZ Down 21.08%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, stage is all set for ECB President Mario Draghi to deliver, i am hopeful that his details should impress world markets. IF there is EUPHORIA, do not forget to book profit. After euphoria there may be a long digestive phase.
BLOG does NOT give buy or sell.
Saleem
Indices are down .01% to .18%......
Indices are down after being UP earlier.
S&P 500 @ 1402.31
Internals are negative
Oil Down 6 cents
Gold Down $2.50
Canadian $ Down 51 tick @ 100.91
VIX Down 1.5% @ 17.71
Portfolio is EXPE,LVS,LEN,NTES,TCK.....
Most stocks are down
@ 1.59 following are green :
EXPE,LVS,JCP,YUM,CMG,CLF,GOOG,
LNKD,FB,YELP,AGU,ZNGA,CIEN,FNSR,
MOS,SBUX,MS,GS......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1402.31
Internals are negative
Oil Down 6 cents
Gold Down $2.50
Canadian $ Down 51 tick @ 100.91
VIX Down 1.5% @ 17.71
Portfolio is EXPE,LVS,LEN,NTES,TCK.....
Most stocks are down
@ 1.59 following are green :
EXPE,LVS,JCP,YUM,CMG,CLF,GOOG,
LNKD,FB,YELP,AGU,ZNGA,CIEN,FNSR,
MOS,SBUX,MS,GS......
BLOG does NOT give buy or sell.
Saleem
Tuesday, September 4, 2012
Indices closed mixed.......
Nasdaq closed in green, while other indices closed near high of the day, but down.
S&P 500 closed @ 1404.94
RSI @ 54.96
CMF @ 0.180
Internals were :
UP volume led by 1.04 to 1 in NYSE & 1.13 to 1 in Nasdaq
Advancing stocks led by 1.42 to 1 in NYSE & 1.64 to 1 in Nasdaq
Net new 52 wk highs were leading by154 in NYSE & 67 in Nasdaq
VIX closed UP 2.92% @ 17.98
Oil closed @ $95.30
Gold closed @ $1696.00
Stocks which were UP 1% or more included EXPE, LEN,
BIDU,LULU,AAPL,YELP,PANW,BWLD,ARNA,EGO,
SLW,SINA,MS,YHOO,IBN......
AH Futures Down
AH Asian Markets Down
AH Gold Down
AH Oil UP
About market, one has to be impressed with TAPE these day's.Despite poor economic data, we managed to erase most of the losses today. TAPE has the feel, that it wants to go UP, just waiting for a trigger. We MAY get that trigger on Thursday from ECB......
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1404.94
RSI @ 54.96
CMF @ 0.180
Internals were :
UP volume led by 1.04 to 1 in NYSE & 1.13 to 1 in Nasdaq
Advancing stocks led by 1.42 to 1 in NYSE & 1.64 to 1 in Nasdaq
Net new 52 wk highs were leading by154 in NYSE & 67 in Nasdaq
VIX closed UP 2.92% @ 17.98
Oil closed @ $95.30
Gold closed @ $1696.00
Stocks which were UP 1% or more included EXPE, LEN,
BIDU,LULU,AAPL,YELP,PANW,BWLD,ARNA,EGO,
SLW,SINA,MS,YHOO,IBN......
AH Futures Down
AH Asian Markets Down
AH Gold Down
AH Oil UP
About market, one has to be impressed with TAPE these day's.Despite poor economic data, we managed to erase most of the losses today. TAPE has the feel, that it wants to go UP, just waiting for a trigger. We MAY get that trigger on Thursday from ECB......
BLOG does NOT give buy or sell.
Saleem
Indices down .13% to .50% despite ECB comment....
Indices are down, despite assurance by ECB Chief Mario Draghi, that they will be buying short term bonds.
S&P 500 @ 1402.15
Internals are negative
Oil Down $1.17
Gold UP $9.20
Canadian $ Down 8 tick @ 101.34
VIX UP 5.67% @ 18.46
Portfolio is EXPE,LVS,LEN,NTES,TCK.....
Most stocks are down
@ 2.05 following are UP :
EXPE,LEN,BIDU,YELP,LULU,AAPL,BWLD,
PANW,ARNA,SLW,EGO,SU,SINA,MS....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1402.15
Internals are negative
Oil Down $1.17
Gold UP $9.20
Canadian $ Down 8 tick @ 101.34
VIX UP 5.67% @ 18.46
Portfolio is EXPE,LVS,LEN,NTES,TCK.....
Most stocks are down
@ 2.05 following are UP :
EXPE,LEN,BIDU,YELP,LULU,AAPL,BWLD,
PANW,ARNA,SLW,EGO,SU,SINA,MS....
BLOG does NOT give buy or sell.
Saleem
Sunday, September 2, 2012
Money managers bullish but volume tapering......
Money managers are most bullish since Dec 2010, but volume has been tapering off for few months.
Most technicians are NOT bullish in the short term.
Technicians expects VIX to jump.
BUT...market TAPE does NOT reflect that weakness, we are either going UP or building a major base since April 2012. We have stayed @ current level since April, five month of base building generally results in a "breakout"....
Any breakout may take us near 1500 in S&P 500.
Major "support" for this TAPE is around 1350 area.
How to play this TAPE is the same way......position to book profit & then re-position for potential gain in other attractive stocks.
Exposure needs to be reduced, as i have done.
It IS important to be CONSTRUCTIVE in this TAPE, but CAUTION is warranted.
Market IS expecting "major resolution" in European debt crisis.
ECB action may be "criticized as not enough", but it will be "step in right direction"
RSI sitting @ 56.13...this has room to go to 60+ area, touching of 70 has been bearish.
My suggestion is to stay with "profitable ideas"...but book profit, or else profit will be vulnerable to any pullbacks.
YES....we are near "top end of this range"......exposure needs to be reduced.
It is NOT about being right, but managing risk / reward ratio, currently reward is not so high.
Good luck with your strategy & comfort level.
BLOG does NOT give buy or sell.
Saleem
Most technicians are NOT bullish in the short term.
Technicians expects VIX to jump.
BUT...market TAPE does NOT reflect that weakness, we are either going UP or building a major base since April 2012. We have stayed @ current level since April, five month of base building generally results in a "breakout"....
Any breakout may take us near 1500 in S&P 500.
Major "support" for this TAPE is around 1350 area.
How to play this TAPE is the same way......position to book profit & then re-position for potential gain in other attractive stocks.
Exposure needs to be reduced, as i have done.
It IS important to be CONSTRUCTIVE in this TAPE, but CAUTION is warranted.
Market IS expecting "major resolution" in European debt crisis.
ECB action may be "criticized as not enough", but it will be "step in right direction"
RSI sitting @ 56.13...this has room to go to 60+ area, touching of 70 has been bearish.
My suggestion is to stay with "profitable ideas"...but book profit, or else profit will be vulnerable to any pullbacks.
YES....we are near "top end of this range"......exposure needs to be reduced.
It is NOT about being right, but managing risk / reward ratio, currently reward is not so high.
Good luck with your strategy & comfort level.
BLOG does NOT give buy or sell.
Saleem
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