Markets are showing resiliency this morning...inspite of yesterday's poor TAPE......
Nasdaq is giving the feeling that it wants to go " further HIGHER "......
A strong close will be very good for rally to continue....otherwise it is a "toppy tape".....
Bull Markets can defy "common sense LOGIC for a long long time"....we COULD be @ such a juncture.......
Today's "green indices so early is a major surprise for me"......that shows how much I know about Wall & Broad......
I will take any GAIN...reasons NOT important $$$$$
This AM on weakness I added 6% more NMX....my cost now $124.27.....
I normally BUY any good stock which is "mispriced"..based on FA or TA...NMX certainly belongs in that category......so I think !!!
If all the stocks in my portfolio close where they are currently trading...it will be the "biggest gain in one day ever......ever goes back to 40 years of investing !!!!
FMCN which I had identified as the biggest laggard in high growth Chinese stock is "rocketing UP $8.44 on 11 million share in first 100 minute".....
FMCN filed its last Q report and is reporting its next ER on 27th Sep AH......and that removes the biggest obstacle to its UP move.....
FMCN is @ new all-time HIGH @ $56.78 ...beating previous high by $4+....
NVT is also @ alltime high UP $5.18..beating old high by almost $3..on very heavy volume...
WFR UP 53 Cents......
SNDK UP 31 Cents.....as they say when a stock is sick...they die .....
NMX UP 81 Cents......
CMED UP 66 Cents.....
Other stocks @ 11.26AM which are green includes :
AAPL(new high),RIMM(new high),GRMN,TSL,ICE(added to S&P500),YHOO,CTRP,
FSLR,OXPS,SNDA (new high),JASO.
Happy trading for the rest of nasdaq "green day".
BLOG does not give buy or sell.
Saleem
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