Indices were following worldwide slump by hitting lows right after open, but by close all indices closed near best level of the day.
S&P 500 closed @ 1350.52
RSI @ 50.35
Internals were :
Down volume led by 2.77 to 1 in NYSE & 4.64 to 1 in Nasdaq
Declining stocks led by 3.23 to 1 in NYSE & 4.09 to 1 in Nasdaq
New 52 wk lows were leading by 4 in NYSE & 95 in Nasdaq
VIX closed UP 14.44% @ 18.62%
Oil closed @ $88.14
Gold closed @ $1577.49
AH ER :
TXN Down .63%
VMW Down 3.68%
BIDU UP 5.42%
BIDU earnings report was "contrary" to stories about China having hard landing.
BIDU Sales expected $853.4 million, Actual $858.8 million
BIDU EPS expected $1.11, Actual $1.24
Q3 expectations Sales $992.7 million, Guidance Mid Point $$996 Million
BIDU expectations were set 3 months ago, BEFORE any hint of so-called "hard landing"
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, US market TAPE is articulating better things to come. Even when world markets are tanking, US markets finds a way of erasing majority of its losses. Today's selling was on low volume. When indices do not close @ lows of the day, traders should pay attention, it is giving signal of next move UP.
BLOG does NOT give buy or sell.
Saleem
Monday, July 23, 2012
Indices down .90% to 1.21%......
Indices are reacting to Spanish, Italian & Greek mess.
European markets closed down from 2.09% to 3.18%....
S&P 500 low was 1337.56, currently @ 1349.83
RSI @ 49.50
Internals are negative by almost 4 to 1
New 52 wk lows are in the lead.
Oil Down $2.43
Gold Down $6.60
Canadian $ Down 54 tick @ 98.28
VIX UP 14.44% @ 18.62
Portfolio is BIDU, LVS,NTES,JCP,TCK,AUY
BIDU reports tonight, expecting a beat & in-line guidance.
Most stocks are down
@ 2.02 following are UP :
JCP,LULU,GOOG,LEN,ZNGA,AAPL,SNDK,
ARNA,NVDA,ECA.....
BLOG does NOT give buy or sell.
Saleem
European markets closed down from 2.09% to 3.18%....
S&P 500 low was 1337.56, currently @ 1349.83
RSI @ 49.50
Internals are negative by almost 4 to 1
New 52 wk lows are in the lead.
Oil Down $2.43
Gold Down $6.60
Canadian $ Down 54 tick @ 98.28
VIX UP 14.44% @ 18.62
Portfolio is BIDU, LVS,NTES,JCP,TCK,AUY
BIDU reports tonight, expecting a beat & in-line guidance.
Most stocks are down
@ 2.02 following are UP :
JCP,LULU,GOOG,LEN,ZNGA,AAPL,SNDK,
ARNA,NVDA,ECA.....
BLOG does NOT give buy or sell.
Saleem
Sunday, July 22, 2012
AAPL earning report will set the direction of this market.....
AAPL reports this Tuesday after close. AAPL is expected to beat expectations. How they guide will set the tone for AAPL stock & entire market.
There is a FEAR that AAPL iPhone4S Sales may be guided down for next Q in anticipation of new iPhone5........
As to the market away from AAPL, CMF have stayed positive for 5.5 weeks.
Here is CMF read :
DOW 0.244
S&P 500 0.300
Nasdaq 0.309
General sentiment remains poor, Individual investors are only 22% bullish. Sometimes extreme pessimism is positive for TAPE.
Earnings are missing Sales mark & guidance are generally weak.
IBD is changing their rating of market on a daily basis, Thursday after close IBD said "Market in confirmed UPTREND"....Friday after close they said "Market Uptrend under pressure".....so IF you feel confused about this market, you are not alone..."even technicians are changing their tune on a daily basis"
In my opinion, one should stay in this market, till it sorts itself out.
Stay with stocks which are unfairly beaten up, which IS the case with majority of stocks, all down 40% from their highs.
IF you see profit, it IS prudent to book immediately & go to your next best idea.
Markets are "never easy" but these days we have weakness around the world. News will continue to be "downbeat"........
Once you know that market will GYRATE on a daily basis, then you can play accordingly, either buy on weak days or sell on UP days.
All of us are swimming with loss for the year, the only way we can get ahead is to have a "realistic strategy", this differs based on investing or trading style.
It will be a gradual two step UP & one step DOWN market, better get used to it.
Good luck with your OWN strategy & comfort level.
BLOG does NOT give buy or sell.
Saleem
There is a FEAR that AAPL iPhone4S Sales may be guided down for next Q in anticipation of new iPhone5........
As to the market away from AAPL, CMF have stayed positive for 5.5 weeks.
Here is CMF read :
DOW 0.244
S&P 500 0.300
Nasdaq 0.309
General sentiment remains poor, Individual investors are only 22% bullish. Sometimes extreme pessimism is positive for TAPE.
Earnings are missing Sales mark & guidance are generally weak.
IBD is changing their rating of market on a daily basis, Thursday after close IBD said "Market in confirmed UPTREND"....Friday after close they said "Market Uptrend under pressure".....so IF you feel confused about this market, you are not alone..."even technicians are changing their tune on a daily basis"
In my opinion, one should stay in this market, till it sorts itself out.
Stay with stocks which are unfairly beaten up, which IS the case with majority of stocks, all down 40% from their highs.
IF you see profit, it IS prudent to book immediately & go to your next best idea.
Markets are "never easy" but these days we have weakness around the world. News will continue to be "downbeat"........
Once you know that market will GYRATE on a daily basis, then you can play accordingly, either buy on weak days or sell on UP days.
All of us are swimming with loss for the year, the only way we can get ahead is to have a "realistic strategy", this differs based on investing or trading style.
It will be a gradual two step UP & one step DOWN market, better get used to it.
Good luck with your OWN strategy & comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, July 20, 2012
Indices closed down .93% to 1.37%......
It was Option Expiry plus Spain & Italy Bond yields jumping to record levels, result was a down close.
S&P 500 closed @ 1362.66
RSI @ 55.08
Internals were :
Down volume led by 3.17 to 1 in NYSE & 4.22 to 1 in Nasdaq
Declining stocks led by 2.02 to 1 in NYSE & 2.89 to 1 in Nasdaq
New 52 wk highs led by 76 in NYSE & new lows led by 3 in Nasdaq
VIX UP 5.31% @ 16.27
Oil closed @ $91.44
Gold closed @ $1582.80
Canadian $ closed @ 98.75
Portfolio is BIDU,LVS,NTES,JCP,TCK,AUY
Here is my portfolio weighting as of tonight :
NTES 28.78%
LVS 18.92%
BIDU 16.51%
TCK 14.01%
JCP 13.59%
AUY 8.19%
Exposure 141%
Stocks which finished green included AUY,
LEN,M,PCLN,AMZN,GG,GOOG,ZNGA,
MU,FNSR,SNDK
Next post on Sunday by 2 PM
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1362.66
RSI @ 55.08
Internals were :
Down volume led by 3.17 to 1 in NYSE & 4.22 to 1 in Nasdaq
Declining stocks led by 2.02 to 1 in NYSE & 2.89 to 1 in Nasdaq
New 52 wk highs led by 76 in NYSE & new lows led by 3 in Nasdaq
VIX UP 5.31% @ 16.27
Oil closed @ $91.44
Gold closed @ $1582.80
Canadian $ closed @ 98.75
Portfolio is BIDU,LVS,NTES,JCP,TCK,AUY
Here is my portfolio weighting as of tonight :
NTES 28.78%
LVS 18.92%
BIDU 16.51%
TCK 14.01%
JCP 13.59%
AUY 8.19%
Exposure 141%
Stocks which finished green included AUY,
LEN,M,PCLN,AMZN,GG,GOOG,ZNGA,
MU,FNSR,SNDK
Next post on Sunday by 2 PM
BLOG does NOT give buy or sell.
Saleem
Thursday, July 19, 2012
Indices closed UP .27% to .79%......NICE !!!
Indices closed UP, after many bout of profit taking.
S&P 500 closed @ 1376.51
RSI 61.18
Internals were :
UP volume led by 1.08 to 1 in NYSE & 1.70 to 1 in Nasdaq
Advancing Stocks led by 1.07 to 1 in NYSE & .76 to 1 in Nasdaq
New 52 wk highs were leading, 176 in NYSE & 76 in Nasdaq
VIX closed Down 4.39% @ 15.45..lowest level in a long while.....
Oil closed @ $92.66
Gold Closed @ $1580.40
AH ER :
AMD Down 3.09%
ISRG Down 4.17%
CMG Down 12.22%
MSFT UP 2.14%
GOOG UP 2.69%
SNDK UP 11.14%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, market is showing tremendous strength back to back in 3 out of 4 days. There is inflow in equities. Earning reports are mixed, but reactions are surprising, some positive on bad news.Market is in a forgiving mood. It is important to follow the TAPE, to benefit from this "burst of enthusiasm"
BLOG does NOT give buy or sell.
Indices UP .14% to .77%......NICE !!!!
Indices are still UP as profit taking is taking hold.
S&P 500 @ 1374.86
Internals are negative.
Oil UP $2.63
Gold UP $8.80
Canadian $ UP 23 tick @ 99.22
VIX UP .19% @ 16.19
In my Portfolio :
Bought AUY @ $14.51
Portfolio is BIDU,LVS,NTES,JCP,TCK,AUY
Exposure 141%
Most stocks are down
@ 2.26 following are UP :
BIDU,LVS,JCP,TCK,PCLN,AAPL,AMZN,
TIF,LULU,COH,FCX,LNKD,CLF,GG,GOOG,
BRCM,CIEN,FNSR,SNDK,CCJ,AEM,SINA,
WYNN....
BLOG does NOT give buy or sell.
Wednesday, July 18, 2012
Indices closed UP .67% to 1.12%...NICE !!!!
Indices reversed opening weakness & turned higher.
S&P 500 closed @ 1372.78
RSI 60.07
Internals were :
UP volume led by 1.65 to 1 in NYSE & 2.58 to 1 in Nasdaq
Advancing stocks led by 1.67 to 1 in NYSE & 1.54 to 1 in Nasdaq
New 52 wk highs were leading, 221 in NYSE & 91 in Nasdaq
VIX Down 1.94% @ 16.16
Oil @ $89.87
Gold @ $1570.80
Stocks which were UP 2% or more included BIDU,NTES,JCP,
KORS,COH,LULU,LRCX,BRCM,JDSU,CIEN,FNSR,SNDK...
AH ER :
IBM UP 2,84%
EBAY UP 5.09%
SWKS UP 8.11%
QCOM UP 5.78%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, all of a sudden everything is rosy again. Most of the earnings are in-line & guidance is lower. Market has decided that ER is more than fine. It is always wise to stay in market & benefit from changing sentiment. Tech & Retail were strong. Do not forget to book any gains as market sentiment are subject to many news driven events. RSI generally stalls around 70.
BLOG does NOT give buy or sell.
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