Indices strong on no news, UP .67% to 1.09%...NICE !!!!

Indices are showing their strength on no news, which is the-best surprise of today.

Fed beige book showing slower than expected economic activity in June & early July.

Indices are UP .67% to 1.09%

S&P 500 @ 1372.17

Internals are positive by almost 2 to 1

Oil UP 61 cents

Gold Down $16.30

Canadian $ UP 16 tick @ 98.90

VIX Down 2.85% @ 16.01

Portfolio is BIDU,LVS,NTES,JCP,TCK

Most stocks are UP

@ 2.30 following are down :

AAPL,AUY,GG,LEN,CMG, V,LNG,C,

EXPE,ARNA,MOS,SBUX,TSL,GS.....

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .45% to .74%...NICE !!!!

Indices were down ahead & during Ben Bernanke testimony, but by end of the day indices closed near highs.

S&P 500 closed @ 1363.67

RSI @ 57.32

Internals were :

UP volume led by 2.58 to 1 in NYSE & 1.31 to 1 in Nasdaq

Advancing stocks led by 2.04 to 1 in NYSE & 1.22 to 1 in Nasdaq

New 52 wk highs were leading, 224 in NYSE & 84 in Nasdaq

VIX down 3.68% @ 16.48

Oil closed @ $89.22

Gold closed @ $1589.50

Stocks which were UP 1% or more included LVS,TCK,

PCLN,CMG,SU,C,SNDK.....

AH ER / News

ARNA Down 7.15%

INTC Down 1.1%

WYNN UP .66%

EMC UP 6.81%

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, we had strong Friday & Tuesday. Market has no defined character in terms of sectors. It is important to show long term conviction to your picks to deal with little or no appreciation in stock prices. It is going to be tough going forward as catalyst are missing for now.

BLOG does NOT give buy or sell.

Saleem

All indices UP after BB testimony.......

Indices are UP .54% to .75% after Ben Bernanke indicated readiness to react as economy is showing weakness. He remains optimistic that US GDP may grow @ 2.4%.......

S&P 500 @ 1362.43

Internals are 2 to 1 in NYSE & 50% positive in Nasdaq

52 wk highs are leading

Oil UP 74 cents

Gold Down $3.20

Canadian $ UP 15 tick @ 98.68

VIX Down 4.85% @ 16.28

Portfolio is BIDU,LVS,NTES,JCP,TCK

Most stocks are UP

@ 2.07 following are down :

BIDU,NTES,JCP,LULU,CLF,AUY,GG,

FB,LNKD,LEN,MA,LNG,ZNGA,

BRCM,MU,JDSU,FNSR,ARNA,

NVDA,X,EGO,SINA,SNE....

EDU came out with good earning BUT it is being investigated by SEC, this caused a PANIC selling in Chinese stocks......

BLOG does NOT give buy or sell.

Saleem

indices closed down .23% to .40%......

Indices were marking time after huge move on Friday.

By close indices were down max .40%.

S&P 500 closed @ 1353.64

RSI @ 54.08

Internals were :

Down volume led by 1.63 to 1 in NYSE & 1.75 to 1 in Nasdaq

Declining stocks led by 1.23 to 1 in NYSE & 1.84 to 1 in Nasdaq

New 52 wk highs were leading, 206 in in NYSE & 61 in Nasdaq

VIX UP 2.21% @ 17.11

Oil closed @ $88.43

Gold closed @ $1591.60

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE was digesting Friday's huge move & were hardly down beyond .40% @ close. It is easy to recognize the strength of this market, when we do not lose majority or any of the gains. It will be prudent to take advantage of minor pullbacks & add or buy desired stocks. This TAPE has the hallmark of investing environment than trading.

BLOG does NOT give buy or sell.

Saleem

Indices down .17% to .32% on weak retail sales.....

Indices are showing small loss on weak retail sales.

S&P 500 @ 1354.94

Internals are negative

52 wk highs are in the lead

Oil UP 55 cents

Gold UP 40 cents

Canadian $ Down 12 tick @ 98.49

VIX UP 1.37% @ 16.97.....no strength, good for bullish action by close.

In my portfolio :

Added 120% TCK @ $29.86

Portfolio is BIDU,LVS,NTES,JCP,TCK

Exposure 132%

Most stocks are down

@ 1.59 following are green :

TIF,M,AUY,AAPL,LEN,CMG,SU,MA,V,

LRCX,C,ARNA,NVDA,MOS,SLW,APKT,

ECA,CSIQ,TSL,BJRI,WYNN,SNE,AGU,

GS,IBN....

BLOG does NOT give buy or sell.

Saleem

S&P 500 ready to cross resistance in Option Expiry week?

S&P 500 is looking @ resistance of 1374.81.....

CMF in indices are :

DOW +0.222

S&P 500 +0.317

Nasdaq +0.357

Money flow has been steady & trending UP, this shows accumulation.

I personally believe that resistance of 1374.81 will be taken out.....

Next target will be 1400 area......

This week is Option Expiry week, where bets are made to keep S&P 500 between 1350 to 1370......

Based on Option bets, it may not be a far fetched idea that by Friday we may be hovering around 1370 area....thanks to MM positioning.

Once we cross 1400 area then next resistance is 1415.82, after that 1422.38....

As earning season is starting, expectations are very low & even below expectation results may be condoned......

Earning season reactions depends on how high we have come in market & expectations, this time around it is highly discounted......it will be wise to wait for next day close to gauge real reaction to earnings.

As markets have decidedly moved up last Friday, it will be nice to see confirmation this week.

SO ..fasten your seat belt, as ride may be bumpy due to Option Expiry.

Good luck with your strategy.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.48% to 1.65%....NICE !!!!

Indices were ready to run after six day's of slump.

S&P 500 closed near high of the day @ 1356.78

RSI 55.30

Internals were :

UP volume led by 8.06 to 1 in NYSE & 3.88 to 1 in Nasdaq

Advancing stocks led by 4.99 to 1 in NYSE & 2.83 to 1 in Nasdaq

New 52 wk highs were leading, 204 in NYSE & 100 in Nasdaq

VIX tumbled 8.67% @ 16.74

Oil @ $87.10

Gold @ $1592

Canadian $ UP 56 tick @ 98.61

Portfolio is BIDU,LVS,NTES,JCP,TCK

Here is my portfolio weighting as of tonight :

NTES 35.58%

LVS   21.77%

BIDU 19.48%

JCP   15.64%

TCK   7.53%

Exposure 123%

Stocks which were UP 1% or more included BIDU,TCK,

TIF,LULU,M,CLF,FCX,GOOG,AAPL,AMZN,GG,CMG,

C,LRCX,VECO,MGA.....

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem