Indices closed down.
S&P 500 @ 2047.62, low 2036.53, high 2080.33
RSI @ 44.65
CMF @ -0.163
Internals were :
Down volume led by 1.11 to 1 in NYSE & 2.84 to 1 in Nasdaq
Declining stocks led by 1.54 to 1 in NYSE & 2.23 to 1 in Nasdaq
Net new 52 wk lows were leading by 146 in NYSE & by 116 in Nasdaq
VIX UP 11.42% @ 19.61
Oil @ $37.16
Gold @ $1076.50
AH ER..SPWR Down 2.78%, FSLR Down 9.43%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE reversed badly today and took most stocks lower. S&P 500 closed below 50 & 200 DMA. Nasdaq managed to make "golden cross" even on a sharply lower day. Staying with better performing stocks or emerging stocks is a good idea. Market goes through these "tantrums" even on good news. Be patient and show conviction with better performing stocks while liquidating weak ones.
BLOG does NOT give buy or sell.
Saleem
Wednesday, December 9, 2015
Indices down .61% to 1.76%.....
Indices were sharply higher after open and then reversed lower, now we are attempting some kind of comeback, let us watch how we close. Culprit of all this yoyo action is oil price, first it was UP and then turned lower.
S&P 500 @ 2043.67, low 2036.53, high 2080.33
Internals are negative by negative by less than 2 to 1 in NYSE & more than 2 to 1 in Nasdaq
Oil Down 26 cents
Gold Down $1.60
Canadian $ UP 4 tick @ 64.21
VIX UP 11.02% @ 19.54
In my portfolio :
Sold LULU @ $49
Bought BITA @ $25.17
Portfolio BBRY BITA CNQ CY FB FIT VDSI
Most stocks are down
@ 2.47 following are green :
BITA CNQ FEYE LVS CMG SU X STLD ABX
SLW GG CCJ WYNN AGU.....
LULU earning report was a miss by 2 cents on EPS and guide down on Q4. Gross margin was below expectations.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2043.67, low 2036.53, high 2080.33
Internals are negative by negative by less than 2 to 1 in NYSE & more than 2 to 1 in Nasdaq
Oil Down 26 cents
Gold Down $1.60
Canadian $ UP 4 tick @ 64.21
VIX UP 11.02% @ 19.54
In my portfolio :
Sold LULU @ $49
Bought BITA @ $25.17
Portfolio BBRY BITA CNQ CY FB FIT VDSI
Most stocks are down
@ 2.47 following are green :
BITA CNQ FEYE LVS CMG SU X STLD ABX
SLW GG CCJ WYNN AGU.....
LULU earning report was a miss by 2 cents on EPS and guide down on Q4. Gross margin was below expectations.
BLOG does NOT give buy or sell.
Saleem
Tuesday, December 8, 2015
Indices closed down .07% to .92%......
Indices closed down.
S&P 500 @ 2063.59, low 2052.32, high 2073.85
RSI @ 48.21
CMF @ -0.100
Internals were :
Down volume led by 2.76 to 1 in NYSE & 1.40 to 1 in Nasdaq
Declining stocks led by 2.05 to 1 in NYSE & 1.48 to 1 in Nasdaq
Net new 52 wk lows were leading by 342 in NYSE & 179 in Nasdaq
VIX UP 11.11% @ 17.60
Oil @ $37.51
Gold @ $1075.30
AH ER / News....ONTY Down 28.43%, WYNN UP 9.3%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was under tremendous selling pressure again, Nasdaq managed to close slightly lower, all strong stocks turned around and closed green. Dow & S&P 500 closed below 200 DMA. Oil is controlling this TAPE and IF oil is higher then we are off to the races. Nasdaq is ready to make a "golden cross " as early as tomorrow, that will signal a new powerful bull run. Dow & S&P 500 should make " golden cross " soon after. SO, in the midst of turmoil technicals are looking UP.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2063.59, low 2052.32, high 2073.85
RSI @ 48.21
CMF @ -0.100
Internals were :
Down volume led by 2.76 to 1 in NYSE & 1.40 to 1 in Nasdaq
Declining stocks led by 2.05 to 1 in NYSE & 1.48 to 1 in Nasdaq
Net new 52 wk lows were leading by 342 in NYSE & 179 in Nasdaq
VIX UP 11.11% @ 17.60
Oil @ $37.51
Gold @ $1075.30
AH ER / News....ONTY Down 28.43%, WYNN UP 9.3%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was under tremendous selling pressure again, Nasdaq managed to close slightly lower, all strong stocks turned around and closed green. Dow & S&P 500 closed below 200 DMA. Oil is controlling this TAPE and IF oil is higher then we are off to the races. Nasdaq is ready to make a "golden cross " as early as tomorrow, that will signal a new powerful bull run. Dow & S&P 500 should make " golden cross " soon after. SO, in the midst of turmoil technicals are looking UP.
BLOG does NOT give buy or sell.
Saleem
Indices mixed....
Indices are mixed after Dow & S&P 500 went below 200 DMA and made triple bottom, higher lows was the story. Oil hit new 7 year low after recovering a bit.
S&P 500 @ 2065.52, low 2052.32, high 2073.85
Internals are negative by 2 to 1 in NYSE & slightly negative in Nasdaq
Oil Down 10 cents
Gold Down $1.90
Canadian $ Down 83 tick @ 64.24...new 11 year low as central bank talked about willingness to go negative interest rates IF needed.
VIX UP 9.03% @ 17.27
Portfolio BBRY CNQ CY FB FIT LULU VDSI
Most stocks are down
@ 2.49 following are green :
BBRY FB LULU VDSI NTES TWTR AMZN LNKD
PCLN GOOGL FEYE NFLX NXPI DNKN EXPE
YELP CRUS AMBA GMCR SPLK DATA
VRX MLNX.....
LULU reports before open on Wednesday, here are
expectations :
Q3 Sales $482.13 million, EPS 37 cents
Q4 Guidance $689.99 million, EPS 86 cents
Expecting a beat in Q3 and in-line guidance for Q4....
Stock should react positively......i hope..as it is most volatile @ earnings time....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2065.52, low 2052.32, high 2073.85
Internals are negative by 2 to 1 in NYSE & slightly negative in Nasdaq
Oil Down 10 cents
Gold Down $1.90
Canadian $ Down 83 tick @ 64.24...new 11 year low as central bank talked about willingness to go negative interest rates IF needed.
VIX UP 9.03% @ 17.27
Portfolio BBRY CNQ CY FB FIT LULU VDSI
Most stocks are down
@ 2.49 following are green :
BBRY FB LULU VDSI NTES TWTR AMZN LNKD
PCLN GOOGL FEYE NFLX NXPI DNKN EXPE
YELP CRUS AMBA GMCR SPLK DATA
VRX MLNX.....
LULU reports before open on Wednesday, here are
expectations :
Q3 Sales $482.13 million, EPS 37 cents
Q4 Guidance $689.99 million, EPS 86 cents
Expecting a beat in Q3 and in-line guidance for Q4....
Stock should react positively......i hope..as it is most volatile @ earnings time....
BLOG does NOT give buy or sell.
Saleem
Monday, December 7, 2015
Indices closed down .66% to .79%.....
Indices closed down.
S&P 500@ 2077.07, low 2066.78, high 2090.42
RSI @ 51.43
CMF @ -0.117
Internals were :
Down volume led by 4.45 to 1 in NYSE & 2.72 to 1 in Nasdaq
Declining stocks led by 4.06 to 1 in NYSE & 3.35 to 1 in Nasdaq
Net new 52 wk lows were leading by 298 in NYSE & by 128 in Nasdaq
VIX UP 6.95% @ 15.84
Oil @ $37.65
Gold @ $1075.20
AH Futures Down
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE was dislodged from its strong finish on Friday on record low oil, oil is key barometer of worldwide economic growth & health, its new 6.5 year low is quite a surprise. Majority of stocks were sold off today irrespective of their fundamental or technical pattern. All i can suggest is move to stronger stocks on lower price and sell laggards.
BLOG does NOT give buy or sell.
Saleem
S&P 500@ 2077.07, low 2066.78, high 2090.42
RSI @ 51.43
CMF @ -0.117
Internals were :
Down volume led by 4.45 to 1 in NYSE & 2.72 to 1 in Nasdaq
Declining stocks led by 4.06 to 1 in NYSE & 3.35 to 1 in Nasdaq
Net new 52 wk lows were leading by 298 in NYSE & by 128 in Nasdaq
VIX UP 6.95% @ 15.84
Oil @ $37.65
Gold @ $1075.20
AH Futures Down
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE was dislodged from its strong finish on Friday on record low oil, oil is key barometer of worldwide economic growth & health, its new 6.5 year low is quite a surprise. Majority of stocks were sold off today irrespective of their fundamental or technical pattern. All i can suggest is move to stronger stocks on lower price and sell laggards.
BLOG does NOT give buy or sell.
Saleem
Indices down .91% to 1.04%.....
Oil sharp slump to 6 year low is taking indices down.
S&P 500 @ 2070.82, low 2066.78, high 2090.42
Internals are negative by 5 to 1 in NYSE & almost 4 to 1 in Nasdaq
Oil Down $2.34...over 6 year low
Gold Down $11.30
Canadian $ Down 1.52 cent @ 64.87...an 11 year low
VIX UP 13.37% @ 16.79
In my portfolio :
Sold MU @ $14.88
Added 50% FB @ $105.20
Portfolio BBRY CNQ CY FB FIT LULU VDSI
Most stocks are down
@ 2.54 following are green :
FIT LULU BIDU PCLN TSL COH TSLA DNKN
QIHU GMCR BRCM Z .....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2070.82, low 2066.78, high 2090.42
Internals are negative by 5 to 1 in NYSE & almost 4 to 1 in Nasdaq
Oil Down $2.34...over 6 year low
Gold Down $11.30
Canadian $ Down 1.52 cent @ 64.87...an 11 year low
VIX UP 13.37% @ 16.79
In my portfolio :
Sold MU @ $14.88
Added 50% FB @ $105.20
Portfolio BBRY CNQ CY FB FIT LULU VDSI
Most stocks are down
@ 2.54 following are green :
FIT LULU BIDU PCLN TSL COH TSLA DNKN
QIHU GMCR BRCM Z .....
BLOG does NOT give buy or sell.
Saleem
Sunday, December 6, 2015
Guess which index will make new all time high first ?
Indices were on fire on Friday despite much dreaded jobs report, as per recent trend, jobs report was hotter than expected, but big money took that as positive for Friday's money making venture. It seems that supercomputers had accumulated enough shares @ low low prices, so they had to take this market UP irrespective of jobs report.
SO..which index will make new all time high, here are the current numbers :
Nasdaq closed @ 5142.27, old high 5231.94...only 1.71% away
S&P 500 closed @ 2091.69, old high 2134.72...only 2.02% away
Dow closed @ 17847.63, old high 18351.36...only 2.74% away
It is good, that high flying technology is closest to making new all time highs, followed by S&P 500 then Dow...
Based on recent TAPE action, it may take 3 days to make new all time highs in Nasdaq & S&P 500, Dow may take up to 5 trading days.....
Based on current momentum, coming week has a very good chance to make all time highs in all indices.....that will be very nice......
As usual, strong stocks did participate in Friday's mega move, while laggards lagged again.....
This market is very narrow in participation or on making series of new all time highs in stocks......
SO..IF you want to benefit from upcoming move to series of new all time highs, it may be prudent to increase allocation towards strong stocks & not take quick profit.....
It is amazing how different market behaves so differently from others, before it was, all boats were lifted, but not any more, it is extremely selective towards strong stocks.
We all have a tendency to be stock pickers which works in most markets, but experienced traders are lagging this market badly with their picks, even major hedge funds are under-performing indices.
This TAPE has given its verdict, strong stocks will perform many times better than laggards.
SO..get ready with your analysis and your take of this TAPE, this market is all set to make series of new all time highs.....
BLOG does NOT give buy or sell.
Saleem
SO..which index will make new all time high, here are the current numbers :
Nasdaq closed @ 5142.27, old high 5231.94...only 1.71% away
S&P 500 closed @ 2091.69, old high 2134.72...only 2.02% away
Dow closed @ 17847.63, old high 18351.36...only 2.74% away
It is good, that high flying technology is closest to making new all time highs, followed by S&P 500 then Dow...
Based on recent TAPE action, it may take 3 days to make new all time highs in Nasdaq & S&P 500, Dow may take up to 5 trading days.....
Based on current momentum, coming week has a very good chance to make all time highs in all indices.....that will be very nice......
As usual, strong stocks did participate in Friday's mega move, while laggards lagged again.....
This market is very narrow in participation or on making series of new all time highs in stocks......
SO..IF you want to benefit from upcoming move to series of new all time highs, it may be prudent to increase allocation towards strong stocks & not take quick profit.....
It is amazing how different market behaves so differently from others, before it was, all boats were lifted, but not any more, it is extremely selective towards strong stocks.
We all have a tendency to be stock pickers which works in most markets, but experienced traders are lagging this market badly with their picks, even major hedge funds are under-performing indices.
This TAPE has given its verdict, strong stocks will perform many times better than laggards.
SO..get ready with your analysis and your take of this TAPE, this market is all set to make series of new all time highs.....
BLOG does NOT give buy or sell.
Saleem
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