Markets are DISCOUNTING more than what is @ play......WHY.....
Because..... as once a famous President Said....because I could !!!!
Markets were totally in the hand of manipulators in the last 15 minutes...Mini S&P futures were USED to drive the markets in a tailspin @ close...to inject FEAR.........
I personally believe that we have seen the LOW CLOSE today.......
Credit issue "card has been OVERPLAYED".......
10 yr Bond has adjusted to all the "drumroll about private equity troubles"
Financials,housing,low end retail are the troubled areas......
TECHS are not affected @ all...as all TECH companies are "loaded with CASH"
TECHS are in "boom cycle"
Yes....on monday an attempt will be made to take the markets further LOWER...but by closing we should find solid buyers to prop the market UP...so I think.....
I sold FDRY today as it was not benefitting as much ...because of market conditions....booked 88 cents gain.
Overall my portfolio lost 2.4%.....why do I disclose this......because either you can see the "benefit of my strategy.....or you can see that you are doing better than me....another way to promote healthy comparison "......
My portfolio is:
RIMM,SNDK,STP,SNDA & UXG......
ICE,WYNN,GOOG,LVS,NMX,NYX,FSLR,TSLSNE,HOKU,XING & NMR bucked the downdraft.
Saturday by 10AM ..I will be posting list of technically strong stocks.
Please do your OWN due diligence & find your own comfort level in this credit crazy selloff.
BLOG does not give buy or sell.
Saleem
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