Markets are showing "weakness ahead of the release of beige book @ 2 PM"and ongoing negative news on housing.....
Markets are weak also because of "swift move UP in the last 5 trading days"
A giveback was in order....beige book may give reason for markets to gain some traction by close.
RIMM is down $1.32
SNDK down $1.32
VMW is looking for support low today $64.04.....feels like a bottom today..we will see... currently down $2.70 on heavy volume....feels like "capitulation by many"....I am staying put with my entire position currently down $4.70/per share from my cost......
NVT is bucking the downdraft by staying green...UP 70 Cents.....nice to have one green in my portfolio......
Added 60% more EGO this AM......green is the color....whenever I go in gold..it is a statement of oversold in gold stocks and mini-overbought in nasdaq....
@11.21 AM the following are green in my watch list:
AAPL,BIDU,FMCN,YHOO (takeover talk),AOB,GRMN(new high),
SNE,SOHU(near 52 wk high),XING,NTRI.
Hoping for a better close today.
BLOG does not give buy or sell.
Saleem
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