Markets ended lower....
Declining volume,declining stocks & new 52 week low led ......
Markets are waiting for some direction from the fed.......
Fed very well understand the "nervousness of the traders & investors".....
Fed also understand that consumer & Investors "confidence is crucial to avoiding recession"
So ...knowing all that ...you think Fed will be dumb enough to do & say anything which will rock the "economic boat"......I personally believe that Fed will do the "right thing"....
Markets as usual will "gyrate going into fed decision and gyrate after the fed decision"......
Markets sometimes take next day to fully "appreciate the long term positive impact of fed decision"
So...if I were you...I will wait till closing on wed to really evaluate the quality of fed decision....
Please do not lose sight of the fact that we have "quad witching on friday...so the entire week may not give an accurate interpretation..as to the direction of the markets......
I will not make any decision until next monday...in terms of any reaction to fed or OE.....
In my portfolio VMW took a beating by being down $4.22 on profit taking/overbought/lower EPS for Q2 ending June before IPO......VMW also told analyst today that they will have 30 million more TOS for Q4 as they bought companies with stocks...TOS now stands @ 400 million as in Q4......a potential dilution in earnings..unless those companies add EPS.....
SNDK down 99 cents
NVT down 87 cents
RIMM down 99 cents
CMED was the superstar of the day UP $1.11 to a new 52 wk high..closed @ $39.70 on more than double volume....also volume is higher than yesterday....looks good going forward.....
I bought SWIR maker of wireless modems for portable devices.......
BIDU UP $18 on the introduction of video search...to a new all time HIGH.......
LVS UP $4.91 to a new all time high on two analyst increasing of estimates & price target....WYNN also went UP $2+++
Good luck on fed rate cut day !!!!
BLOG does not give buy or sell.
Saleem
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