TAPE is staging a follow thru day after being UP strongly on Friday. Reason for continued UP move is lull in fighting. Nasdaq comfortably above 50 DMA.
S&P 500 @ 1938.03, high 1944.90, low 1933.43
Internals are better than 2 to 1
Oil UP 52 cents
Gold Down 50 cents
Canadian $ UP 39 tick @ 90.68 as housing start was better than expected.
VIX Down 9.83% @ 14.22
Portfolio EGO FB LULU MU RAD SWIR
Most stocks are UP
@ 2.20 following are red :
EGO YHOO GOOGL COH LEN EBAY YNDX
ZNGA C M STLD DATA TRLA Z WYNN
GS......
BLOG does NOT give buy or sell.
Saleem
Monday, August 11, 2014
Sunday, August 10, 2014
Nasdaq to lead us out of this slump ?
Nasdaq is 8 points below 50 DMA, S&P 500 is 24 points below 50 DMA....DOW is 306 points away from 50 DMA.......
It is important to know where the strength was & is still showing relative strength.......
SO..it is the technology sector which showed strength in this slump...IF you had higher exposure in this sector, you have done relatively well compared to Dow based exposure which showed weak TAPE and even went below 200 DMA...
TAPE was deeply oversold by Thursday based on many international conflicts it took 11 trading day's to get to support, enthusiasm for continued fighting seems to be abating which will give breathing room for indices to find resistance, battle fatigue is good for bullish move.
There is Option Expiry on Friday which is weekly & Monthly which should add to upward pressure. Put has reached extreme bearish reading of .70 which always starts a rebound.
SO..we may be looking @ a very good opportunity to recover our losses & hopefully make some money. This requires staying with your high comfort level stocks. From deeply oversold to overbought level may be weeks away.
TAPE is giving another opportunity to make money off bottom in many stocks, stay away from "so-called experts on CNBC" as they overplay their intellect about stock movement, they are generally stuck in past TAPE action & never looking ahead for "major opportunities"
Pick your stocks based on strength not on "bargain"
PCLN reports before open & may provide the fuel for a major move UP, all travel stocks are making new 52 wk highs already like EXPE & OWW.....now it is PCLN turn......
Good luck with your pick / portfolio, we are looking @ better times ahead.
BLOG does NOT give buy or sell.
Saleem
It is important to know where the strength was & is still showing relative strength.......
SO..it is the technology sector which showed strength in this slump...IF you had higher exposure in this sector, you have done relatively well compared to Dow based exposure which showed weak TAPE and even went below 200 DMA...
TAPE was deeply oversold by Thursday based on many international conflicts it took 11 trading day's to get to support, enthusiasm for continued fighting seems to be abating which will give breathing room for indices to find resistance, battle fatigue is good for bullish move.
There is Option Expiry on Friday which is weekly & Monthly which should add to upward pressure. Put has reached extreme bearish reading of .70 which always starts a rebound.
SO..we may be looking @ a very good opportunity to recover our losses & hopefully make some money. This requires staying with your high comfort level stocks. From deeply oversold to overbought level may be weeks away.
TAPE is giving another opportunity to make money off bottom in many stocks, stay away from "so-called experts on CNBC" as they overplay their intellect about stock movement, they are generally stuck in past TAPE action & never looking ahead for "major opportunities"
Pick your stocks based on strength not on "bargain"
PCLN reports before open & may provide the fuel for a major move UP, all travel stocks are making new 52 wk highs already like EXPE & OWW.....now it is PCLN turn......
Good luck with your pick / portfolio, we are looking @ better times ahead.
BLOG does NOT give buy or sell.
Saleem
Friday, August 8, 2014
Indices closed UP .83% to 1.15%....NICE !!!!
TAPE was under short covering spell after Russia concluded its military exercise near Ukraine border. While Iraq & Gaza remained troublesome.
S&P 500 @ 1931.59, high 1932.38, low 1909.01
RSI @ 43.04
CMF @ -0.011
Internals were :
UP volume led by 4.73 to 1 in NYSE & 2.53 to 1 in Nasdaq
Advancing stocks led by 3.14 to 1 in NYSE & 2.29 to 1 in Nasdaq
Net new 52 wk lows were leading by 10 in NYSE & 38 in Nasdaq
VIX Down 5.34% @ 15.77
Oil @ $97.65
Gold @ $1311
Stocks which were UP 1% or more included LULU MU RAD
GOOGL COH LVS WYNN KOG LEN AMZN SINA
FFIV MA SPWR INVN YNDX HIMX ARUN
BRCM AMCC JDSU JCP M SBUX X
STLD ABX CCJ MGA MS WLT
GS MLNX....
Here is my weighting :
LULU 25.29%
MU 20.29%
SWIR 17.71%
FB 16.45%
RAD 12.87%
EGO 7.39%
Exposure 187%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1931.59, high 1932.38, low 1909.01
RSI @ 43.04
CMF @ -0.011
Internals were :
UP volume led by 4.73 to 1 in NYSE & 2.53 to 1 in Nasdaq
Advancing stocks led by 3.14 to 1 in NYSE & 2.29 to 1 in Nasdaq
Net new 52 wk lows were leading by 10 in NYSE & 38 in Nasdaq
VIX Down 5.34% @ 15.77
Oil @ $97.65
Gold @ $1311
Stocks which were UP 1% or more included LULU MU RAD
GOOGL COH LVS WYNN KOG LEN AMZN SINA
FFIV MA SPWR INVN YNDX HIMX ARUN
BRCM AMCC JDSU JCP M SBUX X
STLD ABX CCJ MGA MS WLT
GS MLNX....
Here is my weighting :
LULU 25.29%
MU 20.29%
SWIR 17.71%
FB 16.45%
RAD 12.87%
EGO 7.39%
Exposure 187%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Indices UP .76% to .97%.....NICE !!!!
Indices are UP despite renewed escalation on many front.
S&P 500 @ 1926.95, high 1927.80, low 1909.01
Internals are positive by minimum 2 to 1
Oil UP 21 cents
Gold Down $1.90
Canadian $ Down 48 tick @ 90.27..jobs report was extremely weak, expectations 20,000 actual 200.
VIX Down 4.98% @ 15.83
Portfolio EGO FB LULU MU RAD SWIR
Most stocks are UP
@ 2.12 following are red :
WUBA GG OTEX YELP EXPE TSLA PCLN
TSL JKS CSIQ FSLR ONVO ZNGA
NFLX GMCR SPLK AEM DATA
TRLA Z AGU...
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1926.95, high 1927.80, low 1909.01
Internals are positive by minimum 2 to 1
Oil UP 21 cents
Gold Down $1.90
Canadian $ Down 48 tick @ 90.27..jobs report was extremely weak, expectations 20,000 actual 200.
VIX Down 4.98% @ 15.83
Portfolio EGO FB LULU MU RAD SWIR
Most stocks are UP
@ 2.12 following are red :
WUBA GG OTEX YELP EXPE TSLA PCLN
TSL JKS CSIQ FSLR ONVO ZNGA
NFLX GMCR SPLK AEM DATA
TRLA Z AGU...
BLOG does NOT give buy or sell.
Saleem
Thursday, August 7, 2014
Indices closed down .46% to .56%....
TAPE was under selling pressure after opening green.
S&P 500 @ 1909.57, low 1904.78, high 1928.89
RSI @ 32.85
CMF @ -0.023...lowest level since mid April
Internals were :
Down volume led by 2.32 to 1 in NYSE & 1.96 to 1 in Nasdaq
Declining stocks led by 1.17 to 1 in NYSE & 1.80 to 1 in Nasdaq
Net new 52 wk lows were leading by 24 in NYSE & 69 in Nasdaq
VIX UP 1.77% @ 16.66
Oil @ $97.34
Gold @ $1312.50
AH ER... ZNGA Down 7.19%, SCTY UP 3.07%
NVDA UP 4.41% News..LULU UP 6.07%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE is not looking healthy, S&P 500 & Nasdaq made lower lows & Dow went below 200 DMA but managed to close above by 25 points. Mario Draghi is not happy about "politics of sanctions" he is worried about its impact on Europe. US is back in Iraq with targeted bombing. Everyone is happy with new chant "give war a chance". Latest escalation by US is going to take a toll on World Markets on Friday, its easy to start a war but its impact is beyond its initial intent. I will be doing a special 2 PM update on Friday based on need to see what is happening in markets.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1909.57, low 1904.78, high 1928.89
RSI @ 32.85
CMF @ -0.023...lowest level since mid April
Internals were :
Down volume led by 2.32 to 1 in NYSE & 1.96 to 1 in Nasdaq
Declining stocks led by 1.17 to 1 in NYSE & 1.80 to 1 in Nasdaq
Net new 52 wk lows were leading by 24 in NYSE & 69 in Nasdaq
VIX UP 1.77% @ 16.66
Oil @ $97.34
Gold @ $1312.50
AH ER... ZNGA Down 7.19%, SCTY UP 3.07%
NVDA UP 4.41% News..LULU UP 6.07%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE is not looking healthy, S&P 500 & Nasdaq made lower lows & Dow went below 200 DMA but managed to close above by 25 points. Mario Draghi is not happy about "politics of sanctions" he is worried about its impact on Europe. US is back in Iraq with targeted bombing. Everyone is happy with new chant "give war a chance". Latest escalation by US is going to take a toll on World Markets on Friday, its easy to start a war but its impact is beyond its initial intent. I will be doing a special 2 PM update on Friday based on need to see what is happening in markets.
BLOG does NOT give buy or sell.
Saleem
Indices down .27% to .43%......
European markets are down further which is taking a toll on US. Uncertainty about tit for tat sanctions will impact growth in many nations.
S&P 500 @ 1911.92, low 1908.24, high 1928.89 ......S&P 500 made lower low....
Internals are mixed
Oil UP 38 cents
Gold UP $4.40
Canadian $ Down 13 tick @ 90.74
VIX UP .49% @ 16.45
In my portfolio :
Added 30% RAD @ $6.09
Portfolio EGO FB LULU MU RAD SWIR
Most stocks are down
@ 2.28 following are green :
EGO FB RAD SWIR GTAT GG YY YELP TWTR
LNKD TSLA PCLN AAPL LEN JKS EBAY
FSLR SPWR HIMX ARUN ZNGA NFLX
PANW X ABX SLW TRLA Z TRIP
MLNX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1911.92, low 1908.24, high 1928.89 ......S&P 500 made lower low....
Internals are mixed
Oil UP 38 cents
Gold UP $4.40
Canadian $ Down 13 tick @ 90.74
VIX UP .49% @ 16.45
In my portfolio :
Added 30% RAD @ $6.09
Portfolio EGO FB LULU MU RAD SWIR
Most stocks are down
@ 2.28 following are green :
EGO FB RAD SWIR GTAT GG YY YELP TWTR
LNKD TSLA PCLN AAPL LEN JKS EBAY
FSLR SPWR HIMX ARUN ZNGA NFLX
PANW X ABX SLW TRLA Z TRIP
MLNX.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, August 6, 2014
Indices closed green.....NICE !!!!
Indices closed green despite many troubling news economically & international tension.
S&P 500 @ 1920.24, high 1927.91, low 1911.45
RSI @ 35.72
CMF @ 0.024
Internals were :
UP volume led by 1.14 to 1 in NYSE & 1.10 to 1 in Nasdaq
Advancing stocks led by 1.48 to 1 in NYSE & 1.51 to 1 in Nasdaq
Net new 52 wk lows were leading by 41 in NYSE & 48 in Nasdaq
VIX Down 2.96% @ 16.37
Oil @ $96.92
Gold @ $1308.20
Stocks which were UP 1% or more included EGO LULU SWIR
QIHU GG OTEX YY TSLA OWW AG TSL CSIQ FSLR
ONVO INVN ARUN AMCC NFLX M ABX SLW
AEM......
AH ER...TXTR Down 6.59%, CSOD Down 8.19%
News...... CTRP UP 11.48%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE scored a victory by closing green & internals were mostly positive. I was pleasantly surprised @ green close especially when Italy & Germany economic news were dismal. International tensions are still simmering and can explode any time. TAPE is definitely showing great resiliency, which encourages me to see gains ahead barring few dips. When stocks do not go down when everyone expects, then it deserves a second look.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1920.24, high 1927.91, low 1911.45
RSI @ 35.72
CMF @ 0.024
Internals were :
UP volume led by 1.14 to 1 in NYSE & 1.10 to 1 in Nasdaq
Advancing stocks led by 1.48 to 1 in NYSE & 1.51 to 1 in Nasdaq
Net new 52 wk lows were leading by 41 in NYSE & 48 in Nasdaq
VIX Down 2.96% @ 16.37
Oil @ $96.92
Gold @ $1308.20
Stocks which were UP 1% or more included EGO LULU SWIR
QIHU GG OTEX YY TSLA OWW AG TSL CSIQ FSLR
ONVO INVN ARUN AMCC NFLX M ABX SLW
AEM......
AH ER...TXTR Down 6.59%, CSOD Down 8.19%
News...... CTRP UP 11.48%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE scored a victory by closing green & internals were mostly positive. I was pleasantly surprised @ green close especially when Italy & Germany economic news were dismal. International tensions are still simmering and can explode any time. TAPE is definitely showing great resiliency, which encourages me to see gains ahead barring few dips. When stocks do not go down when everyone expects, then it deserves a second look.
BLOG does NOT give buy or sell.
Saleem
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