What a difference one day makes.......
Markets recovered most of yesterday's losses......
Market internals were very strong....Advancing volume,Advanceing stocks & new 52 week high's led by wide margin.....this confirms the strength of this amazing bull market....which turns right around ...the very next day...no panic for friday or end of the week......
What a day I had with LDK......I thought I had waited out the inventory issues already...but NO..wall street tried for the "third time same game" @ one point LDK was down almost $6....and the volume was "huge"..14.5 million..it went as low as $40.46..closed @ $42.95 down $2.85.......this is where FA & TA comes in handy......knowing what you are buying...what are the issues and how much "credence"you want to give to "rehash of old issues"....I used my conviction & confidence to stay PUT.
CMED was very strong ..UP $1.63 on above average volume.......
FMCN UP 51 cents...still basing before a major RUNUP.......
SINA was UP $2.75 on heavy volume.....an undervalued stock based on its prospect of being the #2 in search in China & Ad revenue looking way UP.......
XFML UP 22 cents.....getting ready to jump UP......
RIMM UP $2.91.......only $4.89 away from all-time high....
ps ...overall I had a profitable day...
Among other highlights:
BIDU is on a roll AGAIN UP $14+....now Jimmy the Cramer in his latest flip-flop saying BIDU is going to $500........Karen Finerman was boasting of being short BIDU...I wonder what happened....I do have some idea......it was a "toilet trade"....money flushed down the drain.....
AAPL getting close to all-time high......
GOOG close to new high...almost kissing.....
FSLR & GRMN were strong.....
All China big guns were flying FXI was UP $10++
Tomorrow is our EID for muslims all over the world...which marks the end of Ramadan...which involves complete fasting (no food no water) from dawn to dusk.....so one can feel the hunger...
I will be going for prayer in the morning and then visits with family & friends...so my posting for saturday will be delayed till Sunday NOON for technically weak,strong & list of momentum stocks.......
BLOG does not give buy or sell.
Have a relaxing weekend.
Saleem
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