Market was IFFY @ best whole day...barely stayed 10 points green on nasdaq & 50 points UP on dow......then started to FADE near close.......so closed down across the board.....I will call it FLAT.
So what happened today........Futures were strong.....but lot of selling right from open....why.....because of "fear & uncertainty".......
In a strange way today's selling got more selling out of the way......
Even with all the nervousness & SELLING....we ended FLAT...not Bad in my view !!!
I am an OPTIMIST...so I look for any silver lining...FLAT is OK......
In my portfolio RIMM was the big winner even in this FLAT market UP $4.81...expecting another solid day on tuesday.....tuesday is the day Canadian investor/trader must buy to get 3 for 1 stock split.......For American Investor/trader friday is the last day to buy RIMM to get 3 for 1 stock split.....
I am expecting RIMM to continue to move UP after split as more retail investors/traders will be able to afford RIMM @1/3 post split price......lot of investors/traders have felt left out because of RIMM high cost of purchase.....just my view .....
SNDK & CMED were GREEN also......
STP has lost almost $5 since reporting earnings.....which was better than expected & guidance was also better than expected.....so this sell off is extremely uncalled for.....but Hedge Funds can do this very easily to any stock......MM loves to grab stock in panic selling @ low prices......do not be surprised .....that we see strength in STP starting Tuesday...just like magic ????
NTES earnings are better than expected...thanks to tax credit.....I am expecting a WEAK Q3....CC starts @ 9PM......
Markets will try regain its footing tue and hopefully...we will have better close.
Please stay diversified.
BLOG does not give buy or sell.
Saleem
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