Markets were washed out by close today.....
Market internals turned deep bearish by close.....
In a long time new 52 wk LOW led both NYSE & Nasdaq.....Nasdaq was more lopsided with new 52 week lows.....lows led by 42.....
So the correction was "sharp & swift in 2 days"......sentiment went negative in a hurry"
Just when everybody including me had written off this rally...came stellar ER from INTC & YHOO.....which lit UP the entire market in AH......expect a "huge rally wed"
Thursday AH is ER from "mother of all stock GOOG"...which is expected to be very good.....
So this rally has some leg.......
I sold my entire position in NMX and took a loss of $3.92 per share......was not happy with the tape....so it is "wise to take loss and move ON"......
So what I did with NMX proceed........
Bought back FMCN which I sold yesterday @ $1.50 lower....my cost $58.06.....
More than "tripled my position in VMW"as it is looking ready to run big time......my cost now $98.76......
After everything was said & done...I broke even for two days in a row.....not bad considering NMX weakness.......
My portfolio is :
RIMM,VMW,FMCN,SINA,LDK & EGO......
AAPL trading AH kissing all-time high $$$...
BRCM @ new high....
RVBD kissing new high.....
NVDA kissing new high...
FSLR kissing new high...
SOHU 32 cent away from new high....
YTEC was strong UP $3+++
Hope you are positioned in strong stocks for wed open...if NOT....it is still not too late $$$
Good luck on wed.
BLOG does not give buy or sell.
Saleem
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