Indices stayed in red whole day & closed lower.
S&P 500 @ 1517.01
RSI @ 66.14
CMF @ 0.425
Internals were :
Down volume led by 1.06 to 1 in NYSE & .83 to 1 in Nasdaq
Declining stocks led by 1.23 to 1 in NYSE & 1.04 to 1 in Nasdaq
Net new 52 wk highs were leading by 169 in NYSE & 114 in Nasdaq
VIX closed Down .61% @ 12.94
Oil @ $97.03
Gold @ $1649.10
AH Futures Mixed
AH Asian Markets UP
AH Oil & Gold Down
About market, although indices & VIX close were positive for market, volume was lowest in five months today for a normal day. Volume is a major predictor of TAPE trend. Monitor market volume closely. This is still a "stock pickers market"...IF you have stocks performing "better than market" then your portfolio can offset any negative TAPE action.
BLOG does NOT give buy or sell.
Saleem
Monday, February 11, 2013
Indices down .18% to .25%.......
Indices are starting the week on a down note.
S&P 500 @ 1515.20
Internals are negative
Oil UP 95 cents
Gold Down $18.50
Canadian $ Down 41 tick @ 99.41
VIX UP .92% @ 13.14
In my portfolio :
Sold BAC
Added 30% BBRY @ $15.40
Portfolio is BBRY (70%) & YHOO (30%)
Exposure 50%
Most stocks are down
@ 1.59 following are green :
YHOO,BAC,DNKN,AAPL,CSOD,CMG,
HMC,M,JCP,CLF,LNKD,CRUS,LRCX,
ZNGA,MU,BRCM,JDSU,C,QCOM,
MON,NVDA,FSLR,MCD,X,STLD,
MGA,BJRI,AGU,IBN......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1515.20
Internals are negative
Oil UP 95 cents
Gold Down $18.50
Canadian $ Down 41 tick @ 99.41
VIX UP .92% @ 13.14
In my portfolio :
Sold BAC
Added 30% BBRY @ $15.40
Portfolio is BBRY (70%) & YHOO (30%)
Exposure 50%
Most stocks are down
@ 1.59 following are green :
YHOO,BAC,DNKN,AAPL,CSOD,CMG,
HMC,M,JCP,CLF,LNKD,CRUS,LRCX,
ZNGA,MU,BRCM,JDSU,C,QCOM,
MON,NVDA,FSLR,MCD,X,STLD,
MGA,BJRI,AGU,IBN......
BLOG does NOT give buy or sell.
Saleem
Sunday, February 10, 2013
Option Expiry this week to impact TAPE ?
This week is monthly Option Expiry for VIX & Stocks.
Wednesday is VIX Option Expiry...
Friday is monthly Stock Option Expiry.....
These two expiry may impact TAPE in a negative mode.
Net new 52 wk highs are NOT expanding with market highs on Friday, which is an important technical picture.
With S&P sitting @ 1517.93, it looks like it is NOT likely to take on all time high of 1576.09 in S&P 500 in this run. On a closing basis there is resistance of 1560.......
TAPE looks tired @ this stage, so it needs rest & MAY pullback slightly.
Support in S&P 500 is @ 1480 area
Ratio of Bull / Bear is also getting into overbought territory, currently Bulls are 54.7% & Bears are 21.1%
VIX also in OVERSOLD area @ 13.02 awfully close to 52 wk low of 12.29........
In summary, we MAY have few more days of WEAK rally & then MAYBE downward move.
It is important to look @ technicals in a comparative picture, RSI which reached 74 area in third week of January 2013, brought it down to support in two weeks time & rally started again to current levels.
SO...we are looking @ short spurt of weakness & then rally.......
It is important to recognize that technicals are NOT robust lately.
Friday we made a new 5 year high on below average volume, NOT a sign of "strong technical picture"
How you play this weakening technical picture depends on your OWN comfort level & stock performance of your portfolio.
SO..keep a close eye on the performance of your stock portfolio.
Overall trend is UP but it may be more bumpy from hereon.
BLOG does NOT give buy or sell.
Saleem
Wednesday is VIX Option Expiry...
Friday is monthly Stock Option Expiry.....
These two expiry may impact TAPE in a negative mode.
Net new 52 wk highs are NOT expanding with market highs on Friday, which is an important technical picture.
With S&P sitting @ 1517.93, it looks like it is NOT likely to take on all time high of 1576.09 in S&P 500 in this run. On a closing basis there is resistance of 1560.......
TAPE looks tired @ this stage, so it needs rest & MAY pullback slightly.
Support in S&P 500 is @ 1480 area
Ratio of Bull / Bear is also getting into overbought territory, currently Bulls are 54.7% & Bears are 21.1%
VIX also in OVERSOLD area @ 13.02 awfully close to 52 wk low of 12.29........
In summary, we MAY have few more days of WEAK rally & then MAYBE downward move.
It is important to look @ technicals in a comparative picture, RSI which reached 74 area in third week of January 2013, brought it down to support in two weeks time & rally started again to current levels.
SO...we are looking @ short spurt of weakness & then rally.......
It is important to recognize that technicals are NOT robust lately.
Friday we made a new 5 year high on below average volume, NOT a sign of "strong technical picture"
How you play this weakening technical picture depends on your OWN comfort level & stock performance of your portfolio.
SO..keep a close eye on the performance of your stock portfolio.
Overall trend is UP but it may be more bumpy from hereon.
BLOG does NOT give buy or sell.
Saleem
Friday, February 8, 2013
Indices closed UP .35% to .91%......NICE !!!!
Indices were making new 5 year highs.
S&P 500 closed @ 1517.93, high today was 1518.31.
Our much talked about "genius of stock market" Doug Kass announced in mid January that we will see highs of 2013 in January 2013 & he has " the HIGHEST short position in a year since that time"...but FACTS are proving, that he is doing worse in market prediction than a cab driver in Manhattan, maybe he should ask a NY cabbie where market is heading next time, before he goes on CNBC???
RSI @ 66.79
CMF @ 0.438
Internals were :
UP volume led by 1.91 to 1 in NYSE & .39 to 1 in Nasdaq
Advancing stocks led by 2.10 to 1 in NYSE & 1.75 to 1 in Nasdaq
Net new 52 wk highs were leading by 286 in NYSE & 157 in Nasdaq
VIX Down 3.56% @ 13.02...on its way to making new 52 wk lows?
Oil @ $95.72
Gold @ $1666.90
Canadian @ @ 99.84..below US$ on bad jobs report, lost 21,900 jobs instead of 0 loss.
Portfolio is BAC,BBRY,YHOO
Stocks which were UP 1% or more included DNKN,AAPL,CSOD,
GOOG,PCLN,YUM,LVS,PANW,LNKD,ZNGA,BRCM,KOG,
WYNN.....
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1517.93, high today was 1518.31.
Our much talked about "genius of stock market" Doug Kass announced in mid January that we will see highs of 2013 in January 2013 & he has " the HIGHEST short position in a year since that time"...but FACTS are proving, that he is doing worse in market prediction than a cab driver in Manhattan, maybe he should ask a NY cabbie where market is heading next time, before he goes on CNBC???
RSI @ 66.79
CMF @ 0.438
Internals were :
UP volume led by 1.91 to 1 in NYSE & .39 to 1 in Nasdaq
Advancing stocks led by 2.10 to 1 in NYSE & 1.75 to 1 in Nasdaq
Net new 52 wk highs were leading by 286 in NYSE & 157 in Nasdaq
VIX Down 3.56% @ 13.02...on its way to making new 52 wk lows?
Oil @ $95.72
Gold @ $1666.90
Canadian @ @ 99.84..below US$ on bad jobs report, lost 21,900 jobs instead of 0 loss.
Portfolio is BAC,BBRY,YHOO
Stocks which were UP 1% or more included DNKN,AAPL,CSOD,
GOOG,PCLN,YUM,LVS,PANW,LNKD,ZNGA,BRCM,KOG,
WYNN.....
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, February 7, 2013
Indices closed down .11% to .30%.....
Indices closed slightly lower.
S&P 500 @ 1509.39
RSI @ 63.74
CMF @ 0.445
Internals were :
Down volume led by 1.82 to 1 in NYSE & 1.57 to 1 in Nasdaq
Declining stocks led by 1.33 to 1 in NYSE & 1.64 to 1 in Nasdaq
Net new 52 wk highs were leading by 203 in NYSE & 110 in Nasdaq
VIX closed UP .67% @ 13.50
Oil @ $95.83
Gold @ $1671.30
AH ER :
CSTR Down 8.69%
LNKD UP 9.48%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, Our two world famous market timer Doug Kass & Brian Kelly are calling this market summer of 1987 when we had 26% DROP IN ONE DAY ON A MONDAY & BK calling it BUBBLE.... Those who follow any technical indicator KNOW that, we are not even close to extreme overbought conditions ANYWHERE.... never mind all time extreme or bubble created in the RUNUP to October 1987 crash????? Market remains healthy & is closing near highs of the day on any minor pullback.S&P 500 has been basing for five days near same level, will not surprise me IF we break out on Friday..yes tomorrow.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1509.39
RSI @ 63.74
CMF @ 0.445
Internals were :
Down volume led by 1.82 to 1 in NYSE & 1.57 to 1 in Nasdaq
Declining stocks led by 1.33 to 1 in NYSE & 1.64 to 1 in Nasdaq
Net new 52 wk highs were leading by 203 in NYSE & 110 in Nasdaq
VIX closed UP .67% @ 13.50
Oil @ $95.83
Gold @ $1671.30
AH ER :
CSTR Down 8.69%
LNKD UP 9.48%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, Our two world famous market timer Doug Kass & Brian Kelly are calling this market summer of 1987 when we had 26% DROP IN ONE DAY ON A MONDAY & BK calling it BUBBLE.... Those who follow any technical indicator KNOW that, we are not even close to extreme overbought conditions ANYWHERE.... never mind all time extreme or bubble created in the RUNUP to October 1987 crash????? Market remains healthy & is closing near highs of the day on any minor pullback.S&P 500 has been basing for five days near same level, will not surprise me IF we break out on Friday..yes tomorrow.
BLOG does NOT give buy or sell.
Saleem
Indices down .37% to .46%......
Indices are fighting back & have recovered more than half of their losses. Mario Draghi comment caused selling.
S&P 500 @ 1506.54
Internals are negative by almost 2 to 1
Oil Down 86 cents
Gold Down $6.90
Canadian $ Down 24 tick @ 100.18
VIX UP 3.80% @ 13.92
In my portfolio :
Sold CRUS
Applied proceed from CRUS to buy more BBRY @ $16.39...BBRY is my largest position ever.....things are looking UP for BBRY......
Portfolio is BAC,BBRY,YHOO
Exposure 85%
Most stocks are down
@ 2.07 following are UP :
BBRY,YHOO,KORS,DNKN,AAPL,GOOG,M,
YUM,ZNGA,FSLR,SLW,MLNX,BJRI.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1506.54
Internals are negative by almost 2 to 1
Oil Down 86 cents
Gold Down $6.90
Canadian $ Down 24 tick @ 100.18
VIX UP 3.80% @ 13.92
In my portfolio :
Sold CRUS
Applied proceed from CRUS to buy more BBRY @ $16.39...BBRY is my largest position ever.....things are looking UP for BBRY......
Portfolio is BAC,BBRY,YHOO
Exposure 85%
Most stocks are down
@ 2.07 following are UP :
BBRY,YHOO,KORS,DNKN,AAPL,GOOG,M,
YUM,ZNGA,FSLR,SLW,MLNX,BJRI.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, February 6, 2013
Mixed close....
Indices closed mixed with Nasdaq being red by few tick.
S&P 500 @ 1512.12
RSI @ 65.53
CMF @ 0.421
Internals were :
UP volume led by 1.71 to 1 in NYSE & 1.11 to 1 in Nasdaq
Advancing stocks led by 1.46 to 1 in NYSE & 1.23 to 1 in Nasdaq
Net new 52 wk highs were leading by 188 in NYSE & 107 in Nasdaq
VIX closed Down 2.26% @ 13.41
Oil @ $96.62
Gold @ $1678.80
AH ER / News :
V Down 1.31%
YELP Down 2.82%
GMCR Down 7.03%
AKAM Down 15.70%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE remains strong as we closed near high of the day. How we close is a strong indicator of the strength of this market, that is when NOISE subsides. This TAPE has all the marking of a strong bull market. Stay invested.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1512.12
RSI @ 65.53
CMF @ 0.421
Internals were :
UP volume led by 1.71 to 1 in NYSE & 1.11 to 1 in Nasdaq
Advancing stocks led by 1.46 to 1 in NYSE & 1.23 to 1 in Nasdaq
Net new 52 wk highs were leading by 188 in NYSE & 107 in Nasdaq
VIX closed Down 2.26% @ 13.41
Oil @ $96.62
Gold @ $1678.80
AH ER / News :
V Down 1.31%
YELP Down 2.82%
GMCR Down 7.03%
AKAM Down 15.70%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE remains strong as we closed near high of the day. How we close is a strong indicator of the strength of this market, that is when NOISE subsides. This TAPE has all the marking of a strong bull market. Stay invested.
BLOG does NOT give buy or sell.
Saleem
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