Indices closed down.
S&P 500 @ 1938.76, low 1932.57, high 1949.52
RSI @ 42.25
CMF @ 0.071
Internals were :
Down volume led by 2.28 to 1 in NYSE & 1.16 to 1 in Nasdaq
Declining stocks led by 1.43 to 1 in NYSE & 1.23 to 1 in Nasdaq
Net new 52 wk lows were leading by 220 in NYSE & 107 in Nasdaq
VIX Down 1.38% @ 22.13
Oil @ $44.48
Gold @ $1131.50
AH ER.. SNCR UP 6.12%, RGEN Down 6.57%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was sluggish again and zig zagged whole day. Close was respectable in many days, CMF improved further in all indices, a sign of better TAPE to come. I am more optimistic today, we may be ready for an oversold bounce. Fed policy and Chinese weakness have been analysed & reacted to the hilt already. It is a short term traders market and should be traded accordingly.
BLOG does NOT give buy or sell.
Saleem
Wednesday, September 23, 2015
Indices down .13% to .36%.......
Indices are struggling going back and forth in positive negative mode.
S&P 500 @ 1938.40, low 1932.57, high 1949.52
Internals are negative
Oil Down $1.76
Gold UP $5.70
Canadian $ Down 59 tick @ 66.73
VIX Down 1.92% @ 22.01
Portfolio BIDU CNQ FB LULU NXPI RAD TSL VDSI
Most stocks are down
@ 2.48 following are green :
FB GOOGL AAPL LEN DNKN CMG FFIV MA V
HIMX QIHU SPLK SBUX MCD DATA BRCM
MLNX....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1938.40, low 1932.57, high 1949.52
Internals are negative
Oil Down $1.76
Gold UP $5.70
Canadian $ Down 59 tick @ 66.73
VIX Down 1.92% @ 22.01
Portfolio BIDU CNQ FB LULU NXPI RAD TSL VDSI
Most stocks are down
@ 2.48 following are green :
FB GOOGL AAPL LEN DNKN CMG FFIV MA V
HIMX QIHU SPLK SBUX MCD DATA BRCM
MLNX....
BLOG does NOT give buy or sell.
Saleem
Tuesday, September 22, 2015
Indices closed down 1.09% to 1.50%........
Indices closed down.
S&P 500 @ 1942.74, low 1929.22, high 1961.39
RSI @ 42.84
CMF @ 0.007..all indices are positive CMF as of tonight, Nasdaq being the highest ??????
Internals were :
Down volume led by 6.99 to 1 in NYSE & 4.17 to 1 in Nasdaq
Declining stocks led by 3.92 to 1 in NYSE & 3.38 to 1 in Nasdaq
Net new 52 wk lows were leading by 202 in NYSE & 104 in Nasdaq
VIX UP 11.42% @ 22.44
Oil @ $45.83
Gold @ $1124.80
AH Futures Down
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE worldwide was under severe selling pressure by close they were down in 3% range. US market fared much better and Nasdaq was the weakest @ 1.50%. Relative outperformance by US market is a very good indicator that we are not falling apart and have not taken any support level. Today's close was another higher lows compared to other 3 test of support. This TAPE is different which is not violating any support but remains weak. Maybe we have entered another sideways market like in 1970, where Dow went to 1000 and remained in a downtrend for many many years. It is definitely trading in a very narrow range which needs to be recognized by investors & traders. Have extremely short term trading strategy like daytrading may work better, until we get out of this malaise.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1942.74, low 1929.22, high 1961.39
RSI @ 42.84
CMF @ 0.007..all indices are positive CMF as of tonight, Nasdaq being the highest ??????
Internals were :
Down volume led by 6.99 to 1 in NYSE & 4.17 to 1 in Nasdaq
Declining stocks led by 3.92 to 1 in NYSE & 3.38 to 1 in Nasdaq
Net new 52 wk lows were leading by 202 in NYSE & 104 in Nasdaq
VIX UP 11.42% @ 22.44
Oil @ $45.83
Gold @ $1124.80
AH Futures Down
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE worldwide was under severe selling pressure by close they were down in 3% range. US market fared much better and Nasdaq was the weakest @ 1.50%. Relative outperformance by US market is a very good indicator that we are not falling apart and have not taken any support level. Today's close was another higher lows compared to other 3 test of support. This TAPE is different which is not violating any support but remains weak. Maybe we have entered another sideways market like in 1970, where Dow went to 1000 and remained in a downtrend for many many years. It is definitely trading in a very narrow range which needs to be recognized by investors & traders. Have extremely short term trading strategy like daytrading may work better, until we get out of this malaise.
BLOG does NOT give buy or sell.
Saleem
Indices down 1.47% to 1.97%......
Indices are down from open as worldwide slump in equities takes hold, European exchanges closed down from 2.83% to 3.80%, DAX being the biggest loser thanks to VW.....
S&P 500 @ 1934.36, low 1929.22, high 1961.39 ( open )
Internals are negative by 4 to 1
Oil Down 85 cents
Gold Down $7.60
Canadian $ Down 5 tick @ 67.41
VIX UP 17.38% @ 23.64
Portfolio BIDU CNQ FB LULU NXPI RAD TSL VDSI
Most stocks are down
@ 3.01 following are green :
LULU FIT GPRO Z....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1934.36, low 1929.22, high 1961.39 ( open )
Internals are negative by 4 to 1
Oil Down 85 cents
Gold Down $7.60
Canadian $ Down 5 tick @ 67.41
VIX UP 17.38% @ 23.64
Portfolio BIDU CNQ FB LULU NXPI RAD TSL VDSI
Most stocks are down
@ 3.01 following are green :
LULU FIT GPRO Z....
BLOG does NOT give buy or sell.
Saleem
Monday, September 21, 2015
Indices closed UP .04% to .77%.....NICE !!!!
Indices closed UP.
S&P 500 @ 1966.97, high 1979.64, low 1955.80
RSI @ 46.50
CMF @ -0.027
Internals were :
UP volume led by 1.45 to 1 in NYSE & 1.10 to 1 in Nasdaq
Advancing stocks led by 1.50 to 1 in NYSE & .86 to 1 in Nasdaq
Net 52 wk lows were leading by 62 in NYSE & 40 in Nasdaq
VIX Down 9.61% @ 20.14
Oil @ $46.68
Gold @ $1132.80
Stocks which were UP 1% or more included FB LULU TSL
YY YHOO TSLA PCLN AAPL MU JKS AMZN QIHU
SU V SPLK SBUX DATA GS......
AH ER..RHT UP .94%, LRCX UP 4.14%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE managed to close positive but internals were mixed. Many stocks are showing strength even in this volatile TAPE. There is no conviction in this TAPE, direction is indecisive. Stay with your core and high comfort stocks. Do not be afraid to book profit as soon its there. There is indecision in this TAPE still.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1966.97, high 1979.64, low 1955.80
RSI @ 46.50
CMF @ -0.027
Internals were :
UP volume led by 1.45 to 1 in NYSE & 1.10 to 1 in Nasdaq
Advancing stocks led by 1.50 to 1 in NYSE & .86 to 1 in Nasdaq
Net 52 wk lows were leading by 62 in NYSE & 40 in Nasdaq
VIX Down 9.61% @ 20.14
Oil @ $46.68
Gold @ $1132.80
Stocks which were UP 1% or more included FB LULU TSL
YY YHOO TSLA PCLN AAPL MU JKS AMZN QIHU
SU V SPLK SBUX DATA GS......
AH ER..RHT UP .94%, LRCX UP 4.14%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE managed to close positive but internals were mixed. Many stocks are showing strength even in this volatile TAPE. There is no conviction in this TAPE, direction is indecisive. Stay with your core and high comfort stocks. Do not be afraid to book profit as soon its there. There is indecision in this TAPE still.
BLOG does NOT give buy or sell.
Saleem
Indices are UP .23% to .85%....NICE !!!!
TAPE is back on track after initial burst, then pullback and now all green.
S&P 500 @ 1971.29, high 1979.64, low 1955.80
Internals are mixed
Oil UP $1.80
Gold Down $5.80
Canadian $ Down 2 tick @ 67.75
VIX Down 6.96% @ 20.73
Portfolio BIDU CNQ FB LULU NXPI RAD TSL VDSI
Most stocks are UP
@ 2.59 following are red :
BIDU RAD VDSI NFLX AMBA FEYE LNKD BABA
TWTR FIT LVS GPRO LEN SINA YELP YNDX
X ABX SLW AEM CCJ WYNN AGU ....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1971.29, high 1979.64, low 1955.80
Internals are mixed
Oil UP $1.80
Gold Down $5.80
Canadian $ Down 2 tick @ 67.75
VIX Down 6.96% @ 20.73
Portfolio BIDU CNQ FB LULU NXPI RAD TSL VDSI
Most stocks are UP
@ 2.59 following are red :
BIDU RAD VDSI NFLX AMBA FEYE LNKD BABA
TWTR FIT LVS GPRO LEN SINA YELP YNDX
X ABX SLW AEM CCJ WYNN AGU ....
BLOG does NOT give buy or sell.
Saleem
Sunday, September 20, 2015
Worried about market ?
Whenever TAPE reacts to any event like Fed not raising rates, there is speculation about why that decision was taken, negative conclusion is rampant instead of seeing any positive.
There is an implication that Fed is seeing things or is aware of things which us mortal cannot comprehend.
Wall Street High Frequency Traders can create an environment through their proxies, that things must be really bad that even Fed is panicking.
Fed is known for prudent decision making process which generally does not suit some powerful traders, thus an effort to take advantage of void and make money.
I firmly believe that Fed does know what it is doing and they have stated clearly why this decision of not raising rates.
BUT that was not good enough for Thursday reversal and Friday's slump.......
Monday is another day and require clear headed analysis.....
IF we listen to technicians, we are headed lower to test 1867.01, which is 91.02 points away or 9.50% lower................
Let us say that for argument sake, that we may go there, but, does that mean all stocks will suffer ?
Answer to that question is a firm NO....
Instead of worrying about extremely short term market movements, we should focus on our own investing or trading strategy.....
Having your own conclusion about stocks direction is far more important than worrying about market direction.....
I do not know anyone who can call the direction of market...everyone is guessing and they are right only 10% of the time.....
Predicting market direction is a futile game.....
Have your own long term strategy with quality stocks, they generally go UP substantially over time.
Many stocks are defying market weakness, they are AMZN, GOOGL, FB, NXPI ......security stocks are starting to show life.....
It is important to find your own stocks which has good potential for the long term, energy stocks may be ripe for a sustained move.
YES...it gets difficult every so often, but there are opportunities for getting into strong stocks, which we all miss quite often.
Bottom line is, stop worrying about direction of market, instead focus on good stocks to buy, that is a time tested strategy which works over a long period of time.
Good luck with your analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
There is an implication that Fed is seeing things or is aware of things which us mortal cannot comprehend.
Wall Street High Frequency Traders can create an environment through their proxies, that things must be really bad that even Fed is panicking.
Fed is known for prudent decision making process which generally does not suit some powerful traders, thus an effort to take advantage of void and make money.
I firmly believe that Fed does know what it is doing and they have stated clearly why this decision of not raising rates.
BUT that was not good enough for Thursday reversal and Friday's slump.......
Monday is another day and require clear headed analysis.....
IF we listen to technicians, we are headed lower to test 1867.01, which is 91.02 points away or 9.50% lower................
Let us say that for argument sake, that we may go there, but, does that mean all stocks will suffer ?
Answer to that question is a firm NO....
Instead of worrying about extremely short term market movements, we should focus on our own investing or trading strategy.....
Having your own conclusion about stocks direction is far more important than worrying about market direction.....
I do not know anyone who can call the direction of market...everyone is guessing and they are right only 10% of the time.....
Predicting market direction is a futile game.....
Have your own long term strategy with quality stocks, they generally go UP substantially over time.
Many stocks are defying market weakness, they are AMZN, GOOGL, FB, NXPI ......security stocks are starting to show life.....
It is important to find your own stocks which has good potential for the long term, energy stocks may be ripe for a sustained move.
YES...it gets difficult every so often, but there are opportunities for getting into strong stocks, which we all miss quite often.
Bottom line is, stop worrying about direction of market, instead focus on good stocks to buy, that is a time tested strategy which works over a long period of time.
Good luck with your analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
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