Markets again showed resiliency.....by trending higher @ close.....
Dow / S&P 500 both extended their record breaking run....UP four days in arow......
Even Nasdaq.... which was under tremendous pressure due to end of the month & some mutual fund end of the year...was trending UP @ close.....
Todays close is confirming a "major turn UP is underway"
In my portfolio I did some"opportunistic trades".......
As RIMM was getting beat up pretty bad thanks to an analyst note reducing target to $135 from $138 who had a neutral rating before & neutral rating now...saying his channel check is giving mixed picture...so he reduced the estimates for this year & next by few cents.....
So....I sold EWY and booked $1 per share profit & put all the proceed in adding 50% more RIMM.....my cost went down to $116.67......I was able to buy RIMM when it was down $8.34..hard to pass up a bargain like that......thus my sale of EWY in 24 hour.....
Now my portfolio is :
AAPL, RIMM,AGU & LDK......
Overall I am hoping for a break-even day as LDK,AGU were UP & RIMM & AAPL were down...plus my Canadian $ short will give some dough...which I will know when my account is updated in AM......
My $ allocation @ close is :
AAPL.....33.6%
AGU..... 17.6%
LDK .... 14.4%
RIMM... 34.4%
Financials were very strong today...which is very necessary for this UPTURN to continue.
Financials were being bought by institutions as it was end of the month also......
There was some switching of funds from techs to beaten down financials also....as some institutions took some profit off the table from tech......
Inspite of all the selling...nasdaq advancing stock had a comfortable lead by 256 over decliners...which is showing strength of techs......
I will be posting technically WEAK/STRONG plus list of momentum stocks by 10 AM saturday.
The ONUS is on you to do your homework ...no matter which stock I mention or buy or sell...I am a trader and have many reason to buy any stock or sell any stock...based on my trading decision or other perspective.....which is UNIQUE to ME & for ME only......
I always start with FA and then check TA and keep monitoring those on an hourly basis and react accordingly.....my trading is knowledge based....I have a tendency to trade the same stock over & over again......
Opinions which I express in responce to a question in my BLOG or on CMED board is to answer a given question for that person only.....I normally trade out based on my game plan....so do not equate my opinion for you ......with my decision to get out of any position.
I do NOT trade options in any shape size or form...no covered write either !!!!
BLOG does NOT give buy or sell.
Have a nice weekend.
Saleem
Friday, November 30, 2007
Market initially UP on Bernanke comments !!!!
Markets greeted Bernanke comments by bidding UP futures & opened very strong.
Market are hesitant on 4th day of advance...So I am NOT sure how markets will close today...
Even if market close WEAK......it is because of mini overbought conditions.....
Markets need to digest its gains.....thus a sideways to lower TAPE will NOT surprise me.
In my portfolio :
I added 20% more LDK and my cost on LDK moved UP to $28.61.....
LDK is UP $2.39......as it reported this AM that it has secured supplies of Poly for 2008 to make wafer.....also it started construction phase of its new facilty.....all this positive news gave boost to LDK shares today......
AGU is down 57 cents reflecting market weakness.....
AAPL is down $2.60 reflecting nasdaq weakness....
RIMM is down big $7.94 on rumour of analyst comment.....could NOT locate any news to account for this selloff.....
EWY is UP 83 cents.......
Canadian dollar is down again 20 tick...so it may help me in overall result for the day.....
@ 11.28 AM the following are green :
CMED,MR,FMCN,SINA,BIDU,FSLR (new high),TSL,YHOO,POT,
CTRP,TSO,VLO,WYN,NMX,WFR (kissing new high),SOHU,TTM.
Close should be a telltale of how strong this market is..... negative close on nasdaq is OK...based on recent RUNUP.
Good luck on rest of the day.
BLOG does NOT give buy or sell.
Please follow your OWN trading/investing strategy.
Saleem
Market are hesitant on 4th day of advance...So I am NOT sure how markets will close today...
Even if market close WEAK......it is because of mini overbought conditions.....
Markets need to digest its gains.....thus a sideways to lower TAPE will NOT surprise me.
In my portfolio :
I added 20% more LDK and my cost on LDK moved UP to $28.61.....
LDK is UP $2.39......as it reported this AM that it has secured supplies of Poly for 2008 to make wafer.....also it started construction phase of its new facilty.....all this positive news gave boost to LDK shares today......
AGU is down 57 cents reflecting market weakness.....
AAPL is down $2.60 reflecting nasdaq weakness....
RIMM is down big $7.94 on rumour of analyst comment.....could NOT locate any news to account for this selloff.....
EWY is UP 83 cents.......
Canadian dollar is down again 20 tick...so it may help me in overall result for the day.....
@ 11.28 AM the following are green :
CMED,MR,FMCN,SINA,BIDU,FSLR (new high),TSL,YHOO,POT,
CTRP,TSO,VLO,WYN,NMX,WFR (kissing new high),SOHU,TTM.
Close should be a telltale of how strong this market is..... negative close on nasdaq is OK...based on recent RUNUP.
Good luck on rest of the day.
BLOG does NOT give buy or sell.
Please follow your OWN trading/investing strategy.
Saleem
Thursday, November 29, 2007
Three green days in a row...not bad @ all $$$
Markets are showing tremendous strength..thank you Fed !!!!
Market showed resiliency after having the best two days in five years !!!!
Ben Bernanke just gave the "thumbs UP for further rate cut"in his speech one minute ago !!!!
Markets will take off "big time on friday" $$$$$
My portfolio was UP overall ..but the biggest GRAVY came from my short in Canadian $ it was down 134 basis...a huge drop..ask any currency trader what it means if one is short.....I have caught the downside of full 10% in my short CAD......
My portfolio is :
AAPL,RIMM,EWY (etf South Korea),LDK & AGU......
Solar stocks were strong..FSLR,JASO,YGE,TSL,STP,CSIQ.......were UP
BIDU UP
GOOG UP
CMED UP
MR UP
FMCN UP
Good luck for friday.
BLOG does NOT give buy or sell....please follow your OWN investment/trading pattern.
Saleem
Market showed resiliency after having the best two days in five years !!!!
Ben Bernanke just gave the "thumbs UP for further rate cut"in his speech one minute ago !!!!
Markets will take off "big time on friday" $$$$$
My portfolio was UP overall ..but the biggest GRAVY came from my short in Canadian $ it was down 134 basis...a huge drop..ask any currency trader what it means if one is short.....I have caught the downside of full 10% in my short CAD......
My portfolio is :
AAPL,RIMM,EWY (etf South Korea),LDK & AGU......
Solar stocks were strong..FSLR,JASO,YGE,TSL,STP,CSIQ.......were UP
BIDU UP
GOOG UP
CMED UP
MR UP
FMCN UP
Good luck for friday.
BLOG does NOT give buy or sell....please follow your OWN investment/trading pattern.
Saleem
Markets "green" Yes $$$$
Markets did the expected...opened "red" and now it is "green"
Bull market goes through "hesitation initially...and then strong close"
It is always a great time to buy or add when markets is hesitant......
Do I follow what I say....ALWAYS......
I added EWY on weakness.....but did not get a very good price as this stock is very volatile...What is EWY...it is a South Korea ETF...and it has all the big names from Korea like :
Top 10 holdings are:
Samsung Electronics .........13%
POSCO..................10.4%
Kookmin Bank......... 5.4%
Shinhan Financial Grp......3.93%
Hyundai Heavy Industry....3.74%
Hyundai Motors..............2.76%
Korea Electric Power.....2.30%
SK Energy................2.07%
Samsung..................1.95%
Shinsegae.................1.87%
My cost of EWY is $65.72.......
In my portfolio :
LDK is UP 51 cent...trying to stay green...while all solar stocks are UP "huge"
AGU UP 29 cents.....looking to move further UP shortly.....
AAPL is UP $4.12..only $8+ from all time high...they are introducing iphone which will transfer data in 3G which is "much faster than current edge system from ATT"
RIMM is UP $1.99 only $14 from all time high.....
EWY is down 40 cents but I am making 25 cents...enough for milk & bread.......
My Canadian short has been working like a "charm given me more $$ than most stocks this year...will not cover until CAD is 95 cents to US$...means US$ 95 cents will buy $1 Canadian..right now it is 100.67 down 86 ticks.....
@ 11.33 AM the following stocks are flying:
FSLR(new high),STP (new high),JASO,YGE,TSL,CSIQ,ESLR,SPWR,
GOOG,BIDU,CMED,FMCN,BX,ICE,TSO,VLO,NVDA,WFR,NMR,
VMW,MA.
Markets are looking "very strong"
BLOG does NOT give buy or sell......always follow your own investment & trading strategy.
Good luck for rest of the day.
Saleem
Bull market goes through "hesitation initially...and then strong close"
It is always a great time to buy or add when markets is hesitant......
Do I follow what I say....ALWAYS......
I added EWY on weakness.....but did not get a very good price as this stock is very volatile...What is EWY...it is a South Korea ETF...and it has all the big names from Korea like :
Top 10 holdings are:
Samsung Electronics .........13%
POSCO..................10.4%
Kookmin Bank......... 5.4%
Shinhan Financial Grp......3.93%
Hyundai Heavy Industry....3.74%
Hyundai Motors..............2.76%
Korea Electric Power.....2.30%
SK Energy................2.07%
Samsung..................1.95%
Shinsegae.................1.87%
My cost of EWY is $65.72.......
In my portfolio :
LDK is UP 51 cent...trying to stay green...while all solar stocks are UP "huge"
AGU UP 29 cents.....looking to move further UP shortly.....
AAPL is UP $4.12..only $8+ from all time high...they are introducing iphone which will transfer data in 3G which is "much faster than current edge system from ATT"
RIMM is UP $1.99 only $14 from all time high.....
EWY is down 40 cents but I am making 25 cents...enough for milk & bread.......
My Canadian short has been working like a "charm given me more $$ than most stocks this year...will not cover until CAD is 95 cents to US$...means US$ 95 cents will buy $1 Canadian..right now it is 100.67 down 86 ticks.....
@ 11.33 AM the following stocks are flying:
FSLR(new high),STP (new high),JASO,YGE,TSL,CSIQ,ESLR,SPWR,
GOOG,BIDU,CMED,FMCN,BX,ICE,TSO,VLO,NVDA,WFR,NMR,
VMW,MA.
Markets are looking "very strong"
BLOG does NOT give buy or sell......always follow your own investment & trading strategy.
Good luck for rest of the day.
Saleem
Wednesday, November 28, 2007
Market rockets higher on Fed support.......
As the famous wall street saying goes "Never fight the Feds"......
Market was tanking & losing "momentum because fed @ the last meeting said "that is IT..no more cuts...take it or leave it......so I personally observed credit situation deteriorate daily and some frilly fed members were emphatic that "no cuts are coming ...until yesterday"
So thank you Mr Kohn...for coming to the rescue of the entire economy of the world by saying credit situation "needs to be corrected as credit & housing situation has gotten worse"
This rally has "the support of fed....thus it has legs...bottom is definitely in....
Today we crossed many technical resistance in a hurry...on very high volume....
So what is the NEXT resistance points NOW
Dow.............14,000
S&P 500.....1,510
Nasdaq.......2,800
Yes...there will be MANY pullbacks along the way...but trend is UP Now !!!!
So how strong was this rally today.......check this out
Advancing volume led by 21 to 1 on NYSE on Nasdaq it was 8.5 to 1.......a very convincing snapback $$$$
In my portfolio :
AGU was the biggest superstar in my show UP $3.26..only $7+ from all-time high..they are an agricultural retailer & fertlizer producer..... wheat is among many seed they supply worldwide...
AAPL was UP $5.41 only $12+ from all-time high...Christmas is their big selling season....with iphone in many european countries plus usual ipods and Macs with new operating system leopard is flying off the shelf.......$$$$$
RIMM was UP $5.67....seller of Blacberry,Pearl & Curve ..... business is booming worldwide..$15+ from all-time high...$$$$$
LDK was UP 81 cents..but I lost 62 cents per share...thanks to TD Waterhouse online failure where I was delayed by 10 minutes in execution of sell & buy....
Many strong stocks were UP big today :
BIDU,ISRG,FSLR,STP,GOOG,MA,SOHU,LVS,WFR,VMW,JASO,AMZN.......
It pays to be in momentum stocks...which is very evident with todays "huge gains"
We may open red .....but will turn green in a hurry.....as I expect todays powerful momentum to last few days......
Please do your OWN due diligence and follow your own game plan for investing & trading.
BLOG does NOT give buy or sell.
Good luck for thursday.
Saleem
Market was tanking & losing "momentum because fed @ the last meeting said "that is IT..no more cuts...take it or leave it......so I personally observed credit situation deteriorate daily and some frilly fed members were emphatic that "no cuts are coming ...until yesterday"
So thank you Mr Kohn...for coming to the rescue of the entire economy of the world by saying credit situation "needs to be corrected as credit & housing situation has gotten worse"
This rally has "the support of fed....thus it has legs...bottom is definitely in....
Today we crossed many technical resistance in a hurry...on very high volume....
So what is the NEXT resistance points NOW
Dow.............14,000
S&P 500.....1,510
Nasdaq.......2,800
Yes...there will be MANY pullbacks along the way...but trend is UP Now !!!!
So how strong was this rally today.......check this out
Advancing volume led by 21 to 1 on NYSE on Nasdaq it was 8.5 to 1.......a very convincing snapback $$$$
In my portfolio :
AGU was the biggest superstar in my show UP $3.26..only $7+ from all-time high..they are an agricultural retailer & fertlizer producer..... wheat is among many seed they supply worldwide...
AAPL was UP $5.41 only $12+ from all-time high...Christmas is their big selling season....with iphone in many european countries plus usual ipods and Macs with new operating system leopard is flying off the shelf.......$$$$$
RIMM was UP $5.67....seller of Blacberry,Pearl & Curve ..... business is booming worldwide..$15+ from all-time high...$$$$$
LDK was UP 81 cents..but I lost 62 cents per share...thanks to TD Waterhouse online failure where I was delayed by 10 minutes in execution of sell & buy....
Many strong stocks were UP big today :
BIDU,ISRG,FSLR,STP,GOOG,MA,SOHU,LVS,WFR,VMW,JASO,AMZN.......
It pays to be in momentum stocks...which is very evident with todays "huge gains"
We may open red .....but will turn green in a hurry.....as I expect todays powerful momentum to last few days......
Please do your OWN due diligence and follow your own game plan for investing & trading.
BLOG does NOT give buy or sell.
Good luck for thursday.
Saleem
Markets took off on fed comments $$$$
Markets Took off big-time on Fed Vice-Chairman Mr Kohn comment that economy & credit situation is much worse than their last meeting...hinting @ rate cut as "remedial measures"
I took the cue from Fed and did buying @ open......
Bought AAPL @ $177...a bad fill ....paid more than open price of $176.82....taken for 18 cents /per share.....
Bought RIMM @ $118.......
Bought AGU @ $55.....
Sold QID and booked a loss of $1.73 per share....cost me extra 30 cents/per share loss because TD waterhouse online ordering system was down and had to wait 10 minutes for phone order...???
Then put all proceed from QID into LDK the most beaten down Solar stock my cost $28.34...
So My portfolio is (100% invested):
AAPL,RIMM,AGU & LDK......
Market has been oversold...but financials were lagging..which never starts any meaningful rally......
Today financials ignored the bad news from Wells Fargo...and is flying...which is a "cue for a major turnaround"
Just about everything is UP...in many sectors.....so a broadbased MAJOR turnaround $$$$$
Good luck on rest of the day.
BLOG does NOT give buy or sell.
Please make your OWN decision based on your investment or trading objectives.
Saleem
I took the cue from Fed and did buying @ open......
Bought AAPL @ $177...a bad fill ....paid more than open price of $176.82....taken for 18 cents /per share.....
Bought RIMM @ $118.......
Bought AGU @ $55.....
Sold QID and booked a loss of $1.73 per share....cost me extra 30 cents/per share loss because TD waterhouse online ordering system was down and had to wait 10 minutes for phone order...???
Then put all proceed from QID into LDK the most beaten down Solar stock my cost $28.34...
So My portfolio is (100% invested):
AAPL,RIMM,AGU & LDK......
Market has been oversold...but financials were lagging..which never starts any meaningful rally......
Today financials ignored the bad news from Wells Fargo...and is flying...which is a "cue for a major turnaround"
Just about everything is UP...in many sectors.....so a broadbased MAJOR turnaround $$$$$
Good luck on rest of the day.
BLOG does NOT give buy or sell.
Please make your OWN decision based on your investment or trading objectives.
Saleem
Tuesday, November 27, 2007
Markets closed UP with strong internals !!!!
Market made an impressive finish ...after fighting two bouts of profit taking......
Market internals were very strong also......
UP volume was better than 3 to 1 on NYSE & 4 to 1 on Nasdaq......
Advancing stocks were in lead on both exchange.......
Citigroup cash infusion..put lot of cash in the markets.......
All we need is a green close tommorrow...to confirm that markets are "not in freefall...just a corrective mode"
It is OK if we stay red in the AM and end UP closing in green......a very good technical sign....
But if we open green and close in red...then we are back to one UP & one Down mode again....
Today was a very good "confidence builder day"
I may close my QID position in AM...if we are red.....but will keep if we are green in AM.....because then possibility of red close increases.....
In my portfolio :
QID closed down $1.33 @ $40.82 still UP 13 cent from my purchase.......
Canadian Short worked perfect it was down 62 cent @ close.....should add equity to my account in AM.......
If market works according to my scenario...then I will be buying around 1030 AM @ least 3 stocks.....hopefully !!!
In other sectors...Solar stocks remained WEAK.......FSLR,JASO,LDK. all down....
WFR,STP were UP..
RIMM,GOOG,BIDU,AAPL,MA,SOHU,SINA,VMW,INFY,EWY,
AGU,POT,AMZN,EBAY were strong..
Good luck for wed ...hoping that negative news will not trip the markets AGAIN !!!!
Please do your OWN due diligence & find your OWN comfort level with this market...you should pursue your own objective in terms of investment or trades.
BLOG does not give buy or sell.
Saleem
Market internals were very strong also......
UP volume was better than 3 to 1 on NYSE & 4 to 1 on Nasdaq......
Advancing stocks were in lead on both exchange.......
Citigroup cash infusion..put lot of cash in the markets.......
All we need is a green close tommorrow...to confirm that markets are "not in freefall...just a corrective mode"
It is OK if we stay red in the AM and end UP closing in green......a very good technical sign....
But if we open green and close in red...then we are back to one UP & one Down mode again....
Today was a very good "confidence builder day"
I may close my QID position in AM...if we are red.....but will keep if we are green in AM.....because then possibility of red close increases.....
In my portfolio :
QID closed down $1.33 @ $40.82 still UP 13 cent from my purchase.......
Canadian Short worked perfect it was down 62 cent @ close.....should add equity to my account in AM.......
If market works according to my scenario...then I will be buying around 1030 AM @ least 3 stocks.....hopefully !!!
In other sectors...Solar stocks remained WEAK.......FSLR,JASO,LDK. all down....
WFR,STP were UP..
RIMM,GOOG,BIDU,AAPL,MA,SOHU,SINA,VMW,INFY,EWY,
AGU,POT,AMZN,EBAY were strong..
Good luck for wed ...hoping that negative news will not trip the markets AGAIN !!!!
Please do your OWN due diligence & find your OWN comfort level with this market...you should pursue your own objective in terms of investment or trades.
BLOG does not give buy or sell.
Saleem
Markets staging an "oversold rally"....
Markets are staging an oversold rally........
For this rally to be meaningful...it needs to close near high of the day........
To establish a bottom...we need to close "higher on wed"........
Markets have a mind of its own...only market knows "if it has discounted everything about credit mess"
I am a student of market & follow a defined strategy for my trading activity.......
I would rather wait for "two day's for confirmation that market has found a bottom..instead of trying to be a hero in this very difficult environment"
I am a trader and my strategy is for that purpose only......
Long term holders can alway's buy anything on sale..with the HOPE that in their long-term time frame it WILL work out.......
In my portfolio :
QID is down $1.64 as nasdaq is UP 43......
My Canadian $ short is working as it is down 66 tick....
Between the above two position...I have a good chance of making some "milk & bread money"
@11.30AM the following stocks are green :
AAPL,RIMM,GOOG,BIDU,EWY,EWJ,BRCM,SNDK,AGU,MTU,AMAT,
YHOO,POT,IGT,WYNN,LVS,NVDA,NYX,WFR,SNE,IIJI,SOHU,NMR,
NCTY,SNDA,OXPS,EBAY,INFY,MA,VMW.
Good luck for rest of the day.
BLOG does NOT give buy or sell.
Saleem
For this rally to be meaningful...it needs to close near high of the day........
To establish a bottom...we need to close "higher on wed"........
Markets have a mind of its own...only market knows "if it has discounted everything about credit mess"
I am a student of market & follow a defined strategy for my trading activity.......
I would rather wait for "two day's for confirmation that market has found a bottom..instead of trying to be a hero in this very difficult environment"
I am a trader and my strategy is for that purpose only......
Long term holders can alway's buy anything on sale..with the HOPE that in their long-term time frame it WILL work out.......
In my portfolio :
QID is down $1.64 as nasdaq is UP 43......
My Canadian $ short is working as it is down 66 tick....
Between the above two position...I have a good chance of making some "milk & bread money"
@11.30AM the following stocks are green :
AAPL,RIMM,GOOG,BIDU,EWY,EWJ,BRCM,SNDK,AGU,MTU,AMAT,
YHOO,POT,IGT,WYNN,LVS,NVDA,NYX,WFR,SNE,IIJI,SOHU,NMR,
NCTY,SNDA,OXPS,EBAY,INFY,MA,VMW.
Good luck for rest of the day.
BLOG does NOT give buy or sell.
Saleem
How far $7.5 billion will go in dealing with structural issue...NOT far ??
Futures lit UP last night @ 10......
So...I checked the news......and found Abu Dhabi is parting with $7.5 billion for an stake in Citi.
It is a "ray of hope in a long drawn-out battle of dealing with credit fiasco"
Cit Market cap is north of $150+ billion.....
Fed put more than $7 billion into the system yesterday and markets promptly thanked by tanking the market to its lowest close......in a long long time......
Credit issue is the biggest issue which I have observed in the last 40 years of investing/trading...
Credit issues & market malaise will be solved by aggressive moves by fed and by new emergency legislation.....not by "sissy steps of $7 billion here and $7 billion there"
Markets need "capitulation instead of drip drip DOWN move @ close"
Too many traders are still "not getting it...and are comfortable with their weak stocks.....bargain or value will not cut it this time"
Long term investors should ignore all of my strategy as they are in it for "long haul".....actually they should be "aggressively buying good stocks on fire sale"
Today @ 10 AM consumer confidence will come out.......I do not expect any reprieve there either.......
Keep an eye for fed action which "will matter".....fed has a tendency to wait one day too long.....
I am sure BB is contemplating major attack on this issue...as evidenced by Bond rates.....
I will sell my QID in anticipation of fed move.....which may be determined by today's close......
What traders have to understand.......markets will not change...unless it is given a reason to change...only Fed has the catalyst.......
I will be watching close again...and will take a cue from there.....
US$ is UP thanks to Abu Dhabi buying $7.5 billion worth of US$ to buy their stake in Citi....so my short in Canadian $ is working great this AM.....
I am holding 89% cash...ready to pick bargain once I feel this slump has run its course...today's closing may give that signal...I hope...
Gold is down big....
Oil is down......
So...you may say what $ UP,Gold & OIL down...what that has to do with market...a whole LOT...
So...we are moving closer to some kind of FIX for this market.......
Good luck on your OWN strategy for short or long term positioning.
BLOG does NOT give buy or sell.
Saleem
So...I checked the news......and found Abu Dhabi is parting with $7.5 billion for an stake in Citi.
It is a "ray of hope in a long drawn-out battle of dealing with credit fiasco"
Cit Market cap is north of $150+ billion.....
Fed put more than $7 billion into the system yesterday and markets promptly thanked by tanking the market to its lowest close......in a long long time......
Credit issue is the biggest issue which I have observed in the last 40 years of investing/trading...
Credit issues & market malaise will be solved by aggressive moves by fed and by new emergency legislation.....not by "sissy steps of $7 billion here and $7 billion there"
Markets need "capitulation instead of drip drip DOWN move @ close"
Too many traders are still "not getting it...and are comfortable with their weak stocks.....bargain or value will not cut it this time"
Long term investors should ignore all of my strategy as they are in it for "long haul".....actually they should be "aggressively buying good stocks on fire sale"
Today @ 10 AM consumer confidence will come out.......I do not expect any reprieve there either.......
Keep an eye for fed action which "will matter".....fed has a tendency to wait one day too long.....
I am sure BB is contemplating major attack on this issue...as evidenced by Bond rates.....
I will sell my QID in anticipation of fed move.....which may be determined by today's close......
What traders have to understand.......markets will not change...unless it is given a reason to change...only Fed has the catalyst.......
I will be watching close again...and will take a cue from there.....
US$ is UP thanks to Abu Dhabi buying $7.5 billion worth of US$ to buy their stake in Citi....so my short in Canadian $ is working great this AM.....
I am holding 89% cash...ready to pick bargain once I feel this slump has run its course...today's closing may give that signal...I hope...
Gold is down big....
Oil is down......
So...you may say what $ UP,Gold & OIL down...what that has to do with market...a whole LOT...
So...we are moving closer to some kind of FIX for this market.......
Good luck on your OWN strategy for short or long term positioning.
BLOG does NOT give buy or sell.
Saleem
Monday, November 26, 2007
Market needs aggressive Fed action ????
Markets are in total disarray.......
There is a systemic problem of credit......which only Fed can solve......
Even Fed seems lost..... as to how to solve this big mess....
Markets are hanging dangerously between correction & bear market......
Markets are @ 11% + in negative territory.......
Even Jimmy the Cramer sounds "lost about market improvement anytime soon ?????
So.....where is the NEXT support ???
Dow 12,500
S&P 500 1,400
Nasdaq 2,500
I will NOT pay attention to S&P support...but will look towards Dow & Nasdaq and see if it holds........
For long term investors...they should not "lose their sleep as long as they are adding @ these bargain levels or doing $ cost averaging........
All correction or bear market always comes to an end...investors /traders only can tell after it has turned UP.......
In my portfolio I am short Canadian $ and still with that trade...& it is still working...I only know the amound earned in AM...when my account is updated......
I am still holding QID...which closed UP $1.33...so I had a gain of $1.46 per share......
Lot of stocks closed green today...AAPL,BIDU,FSLR,GRMN,NTRI,FMCN,SINA & SOHU....to name a few.
Please ensure your comfort level in this difficult market.
For traders...reduce your exposure by getting out of your WEAK stocks & losing trades.....wait for market to turn for adding to your position.....Know your stocks "firm support...and then make decision if you want to hang around to those levels...generally they are 200dma......or slightly below......
If you see a high volume selloff.....then we have a very good chance of establishing support......Capitulation is the word...which CNBC/FOX will use whole day.......
It does get painful...when bids are withdrawn from even the biggest stock...it is also known as freefall........
I am mentioning all this......who knows.....we MAY experience this ...before it is all over......
Good luck for tuesday...sometimes it is known as "turnaround tuesday"...I hope !!!!
BLOG does not give buy or sell.....follow your own pre-established strategy.
Saleem
There is a systemic problem of credit......which only Fed can solve......
Even Fed seems lost..... as to how to solve this big mess....
Markets are hanging dangerously between correction & bear market......
Markets are @ 11% + in negative territory.......
Even Jimmy the Cramer sounds "lost about market improvement anytime soon ?????
So.....where is the NEXT support ???
Dow 12,500
S&P 500 1,400
Nasdaq 2,500
I will NOT pay attention to S&P support...but will look towards Dow & Nasdaq and see if it holds........
For long term investors...they should not "lose their sleep as long as they are adding @ these bargain levels or doing $ cost averaging........
All correction or bear market always comes to an end...investors /traders only can tell after it has turned UP.......
In my portfolio I am short Canadian $ and still with that trade...& it is still working...I only know the amound earned in AM...when my account is updated......
I am still holding QID...which closed UP $1.33...so I had a gain of $1.46 per share......
Lot of stocks closed green today...AAPL,BIDU,FSLR,GRMN,NTRI,FMCN,SINA & SOHU....to name a few.
Please ensure your comfort level in this difficult market.
For traders...reduce your exposure by getting out of your WEAK stocks & losing trades.....wait for market to turn for adding to your position.....Know your stocks "firm support...and then make decision if you want to hang around to those levels...generally they are 200dma......or slightly below......
If you see a high volume selloff.....then we have a very good chance of establishing support......Capitulation is the word...which CNBC/FOX will use whole day.......
It does get painful...when bids are withdrawn from even the biggest stock...it is also known as freefall........
I am mentioning all this......who knows.....we MAY experience this ...before it is all over......
Good luck for tuesday...sometimes it is known as "turnaround tuesday"...I hope !!!!
BLOG does not give buy or sell.....follow your own pre-established strategy.
Saleem
S&P dragging the markets lower .....
S&P is the weakest of all the indices...thanks to financial......
Nasdaq strong stocks are very strong against a backdrop of red ink all over......
As planned .....I bought QID @ open...but had a lousy fill...they did not give me the open price..while my order was in 90 minutes before open @ market.....
My price for QID is $40.69....market exposure is 11% all in QID........
Today's close is important ...If we close UP...then it will confirm the direction change which started on friday.......www.schaeffersresearch.com is quite OPTIMISTIC about market holding above wed LOW.......they see this as a successful RETEST of aug low near 1415 area on S&P 500.
So...keep an eye on S&P 1415 area as per Bernie Schaeffer's take.........
I am NOT as optimistic about this market......I see it going below 1400 on S&P 500 then a "flushout & capitulation on very high volume"...then I will sell my QID.......
For Long term investors.......you should ADD to your position or INCREASE your $ cost averaging...as it is a great buy point from hereon till...whenever market turns UP.....so there is a investment angle to this decline.....
What do I like for 2008.......they are all momentum stocks.....which are going against the trend of today...they are all UP........
@11.24AM the following stocks are green :
QID,GOOG,BIDU,AAPL,RIMM,GRMN,SOHU,SINA,CTRP,CMED,FMCN,
FSLR,EWY (etf Korea..which I am looking @),TSL,SIRF,ICE,POT,
SPWR,SNE(stake by middle east sovereign fund),AMZN,
HOKU (360 million Silicon deal with SFUN),SNDA,STP,MA.
Surprisingly VMW is down $5+ again.......
Good luck on close today.....
BLOG does not give buy or sell.
Please do your own due diligence & find your own comfort level with the market & your stocks or investment objective.
Saleem
Nasdaq strong stocks are very strong against a backdrop of red ink all over......
As planned .....I bought QID @ open...but had a lousy fill...they did not give me the open price..while my order was in 90 minutes before open @ market.....
My price for QID is $40.69....market exposure is 11% all in QID........
Today's close is important ...If we close UP...then it will confirm the direction change which started on friday.......www.schaeffersresearch.com is quite OPTIMISTIC about market holding above wed LOW.......they see this as a successful RETEST of aug low near 1415 area on S&P 500.
So...keep an eye on S&P 1415 area as per Bernie Schaeffer's take.........
I am NOT as optimistic about this market......I see it going below 1400 on S&P 500 then a "flushout & capitulation on very high volume"...then I will sell my QID.......
For Long term investors.......you should ADD to your position or INCREASE your $ cost averaging...as it is a great buy point from hereon till...whenever market turns UP.....so there is a investment angle to this decline.....
What do I like for 2008.......they are all momentum stocks.....which are going against the trend of today...they are all UP........
@11.24AM the following stocks are green :
QID,GOOG,BIDU,AAPL,RIMM,GRMN,SOHU,SINA,CTRP,CMED,FMCN,
FSLR,EWY (etf Korea..which I am looking @),TSL,SIRF,ICE,POT,
SPWR,SNE(stake by middle east sovereign fund),AMZN,
HOKU (360 million Silicon deal with SFUN),SNDA,STP,MA.
Surprisingly VMW is down $5+ again.......
Good luck on close today.....
BLOG does not give buy or sell.
Please do your own due diligence & find your own comfort level with the market & your stocks or investment objective.
Saleem
Time Horizon..changes everything !!!!
Thanks to feedback from my BLOG reader.......the following thoughts are given to further clarify my take on investing vs trading :
My BLOG purpose are twofold :
-A live demonstration of my trades ONLY......where can you get a total accountability of time frame and results of an individual...wether win or lose ?????
-@ the expense of my trading.....I am providing good insight into my decision making process...you can use it as a learning tool of what NOT to do or something to THINK about...or you can treat my BLOG as a "total entertainment"...whatever suits your fancy......
I have repeated daily that I do not give buy or sell......
My opinion are of one individual out of tens of millions who trade daily and are vocal about their strategy/agenda on CNBC/FOX ....day after day and month after month...and they are influencing an audience of several millions......
So...my buying or selling for personal account...do NOT affect the market trend...actually I try to follow trends with varying results...trends which are already in-place with my "gutsy trades"...or some will call it "foolish trades"......
I have several messages in my daily post......
-Find your own comfort level.
-Diversify & spread your money around in many stocks.....trust me ..I cannot tell which stocks will move UP or DOWN ......
-Do your own due diligence.....
-Use stops in momentum stocks....
-Use conviction in your own decisions....
-CUT your loss QUICKLY...
For long term investors who have several year horizon.......my BLOG is just "noise...which should be ignored completely"
I do think however.....I do provide good ideas for your own time-horizon......
So......it is upto you.....wether you Holde'm or Folde'm...Kenny Roger cannot be more clearer than that......You got to know...WHEN......
I alway's attempt new strategies....to stimulate my brain.....sometimes it WORKS...sometimes it does NOT......
Please do NOT overemphasize my personal opinion about stocks & markets.......I am "nobody and should be taken as nobody"
I may be "articulating better than some experts on CNBC/FOX sometimes...but I DO FAIL more often as you all must have noted with varying degree of satisfaction......
It is a "better spectacle when one FAILS"......
So take me seriously or take me as an entertainment..... you make the-choice.......
I DO appreciate your visit to my BLOG......and for that I cannot thank you ENOUGH......
26,000 visitors in six months gives me LOT of encouragement.......& I do enjoy writing my personal take on trade/investment/market & psyche of markets........
Sincerely hope that it has been of some value...wether in knowledge or intellectual entertainment...I care for both !!!!
Good luck on "Cyber Monday".....
Saleem
My BLOG purpose are twofold :
-A live demonstration of my trades ONLY......where can you get a total accountability of time frame and results of an individual...wether win or lose ?????
-@ the expense of my trading.....I am providing good insight into my decision making process...you can use it as a learning tool of what NOT to do or something to THINK about...or you can treat my BLOG as a "total entertainment"...whatever suits your fancy......
I have repeated daily that I do not give buy or sell......
My opinion are of one individual out of tens of millions who trade daily and are vocal about their strategy/agenda on CNBC/FOX ....day after day and month after month...and they are influencing an audience of several millions......
So...my buying or selling for personal account...do NOT affect the market trend...actually I try to follow trends with varying results...trends which are already in-place with my "gutsy trades"...or some will call it "foolish trades"......
I have several messages in my daily post......
-Find your own comfort level.
-Diversify & spread your money around in many stocks.....trust me ..I cannot tell which stocks will move UP or DOWN ......
-Do your own due diligence.....
-Use stops in momentum stocks....
-Use conviction in your own decisions....
-CUT your loss QUICKLY...
For long term investors who have several year horizon.......my BLOG is just "noise...which should be ignored completely"
I do think however.....I do provide good ideas for your own time-horizon......
So......it is upto you.....wether you Holde'm or Folde'm...Kenny Roger cannot be more clearer than that......You got to know...WHEN......
I alway's attempt new strategies....to stimulate my brain.....sometimes it WORKS...sometimes it does NOT......
Please do NOT overemphasize my personal opinion about stocks & markets.......I am "nobody and should be taken as nobody"
I may be "articulating better than some experts on CNBC/FOX sometimes...but I DO FAIL more often as you all must have noted with varying degree of satisfaction......
It is a "better spectacle when one FAILS"......
So take me seriously or take me as an entertainment..... you make the-choice.......
I DO appreciate your visit to my BLOG......and for that I cannot thank you ENOUGH......
26,000 visitors in six months gives me LOT of encouragement.......& I do enjoy writing my personal take on trade/investment/market & psyche of markets........
Sincerely hope that it has been of some value...wether in knowledge or intellectual entertainment...I care for both !!!!
Good luck on "Cyber Monday".....
Saleem
Sunday, November 25, 2007
A note of concern ????
I have been deeply concerned by the organized approach through malicious attempt by many people on CMED board to challenge or distort "material fact which investing world based their decision ON"
For the first time I am hearing that CMED ER which was in-line is being elevated to 12 cent beat.
I am also very dissappointed that instead of dealing with material fact as documented everywhere...I am personally being attacked...and told that I "do not have any fact"...
I refuse to be part of "mudslinging strategy by people who know the-least and talk the-most"
I am being subjected to name-calling and being accused of having "ulterior motives"...all because I am trying to present a "hardcore fact of GAAP earning as reported by CMED and documented by Yahoo finance"
I never thought that educated people "cannot accept a number which is there on Yahoo Finance to be seen by everyone"
I am NOT used to "retarded discussion on a basic material facts of ER"
I alway's treat people with respect...even those ...who do NOT deserve it.....
Based on multiple id's postings & JEALOUS insecure people taking sides.......I am left with a difficult decision....
I have appreciated my comraderie with many intelligent posters on CMED board.....
But...these day's bruised ego's have shown their "true mettle"...who only post their "uneducated opinions without any research ....continously"
I really do NOT need this aggravation....when I am trying my-best to be of some value with my thoughtful & caring post with honest take on many things.
I will NOT be posting anything on CMED board from hereon.
Please leave your messages on my BLOG only.
Hoping...... all of you will understand my rationale of NOT being part of CMED FILTH.
Saleem
For the first time I am hearing that CMED ER which was in-line is being elevated to 12 cent beat.
I am also very dissappointed that instead of dealing with material fact as documented everywhere...I am personally being attacked...and told that I "do not have any fact"...
I refuse to be part of "mudslinging strategy by people who know the-least and talk the-most"
I am being subjected to name-calling and being accused of having "ulterior motives"...all because I am trying to present a "hardcore fact of GAAP earning as reported by CMED and documented by Yahoo finance"
I never thought that educated people "cannot accept a number which is there on Yahoo Finance to be seen by everyone"
I am NOT used to "retarded discussion on a basic material facts of ER"
I alway's treat people with respect...even those ...who do NOT deserve it.....
Based on multiple id's postings & JEALOUS insecure people taking sides.......I am left with a difficult decision....
I have appreciated my comraderie with many intelligent posters on CMED board.....
But...these day's bruised ego's have shown their "true mettle"...who only post their "uneducated opinions without any research ....continously"
I really do NOT need this aggravation....when I am trying my-best to be of some value with my thoughtful & caring post with honest take on many things.
I will NOT be posting anything on CMED board from hereon.
Please leave your messages on my BLOG only.
Hoping...... all of you will understand my rationale of NOT being part of CMED FILTH.
Saleem
What strategy I am looking @ $$$$
After carefully reviewing all the trends in the last 24 hours.......
Here is the strategy I am looking @ for implementation @ appropriate pricing point:
-All rallies should be sold........
-QID to be bought on rally day and sold @ or near low of the day......
-QID not be held overnight......
-On weak day QID can be bought @ open and again sold near low or when profit target are met on an intraday basis...never to be held overnight.
-QID is NOT an investment but a daytrading position.......
-GLD can be traded intraday also......this is a bullion pure play......
-ABX,GG,AUY,KGC,EGO are other gold stock trading strategy...again more of a daytrading strategy.......
-I am expecting S&P & Nasdaq to break below their aug lows & go LOWER in a meaningful way......I am expecting this weakness to continue till mid Jan 08......in an accelerating manner..then stable until all news confirms all writedowns and hope for economy "growing again"....
Can I be WRONG....YES.....
But I am going with with my personal assessment of RISK/REWARD ratio.......
I will be daytrading with 10% exposure only..........
The idea is to AVOID all stocks and BET on CONTRARY positions like QID & GLD......
In my OPINION...even strong stocks are behaving WEAK...as their UP moves are "restrained"
Once or IF we "break aug lows on S&P & Nasdaq.......leaders in tech will take a HIT also "
My strategy is to aggressively position on DOWN move with 10% exposure only......
So....If I am wrong...I am able to minimize my loss.....
But If my thesis is correct...then I will benefit from my "conviction".....
Please DO NOT mimick or follow my strategy.....unless you are willing to lose your entire exposure in this bet.......
Please do your own due diligence & find your own comfort level in this UNCERTAIN market environment.
The ONLY reason that I am detailing my new strategy...is .....because it is the biggest SHIFT/CHANGE in my outlook ever since I started investing first & trading lately......
As usual I will report all my trades if ANY @ 1130 AM & 730 PM...wether it was profitable or NOT.......
This BLOG practices honesty.....Integrity is the GOAL of my BLOG.....
I am KNOWN to follow TAPE....and CHANGE my MIND & STRATEGY on a dime......
I go where "money can be made".....
Opinions do NOT create a DIME...right trade does $$$$
I practice "unemotional trading...and do NOT hesitate to book a loss either...if the strategy is NOT working "
BLOG does not give buy or sell.
Good luck on RETHINKING/ADJUSTMENT in your own strategy !!!!
Saleem
Here is the strategy I am looking @ for implementation @ appropriate pricing point:
-All rallies should be sold........
-QID to be bought on rally day and sold @ or near low of the day......
-QID not be held overnight......
-On weak day QID can be bought @ open and again sold near low or when profit target are met on an intraday basis...never to be held overnight.
-QID is NOT an investment but a daytrading position.......
-GLD can be traded intraday also......this is a bullion pure play......
-ABX,GG,AUY,KGC,EGO are other gold stock trading strategy...again more of a daytrading strategy.......
-I am expecting S&P & Nasdaq to break below their aug lows & go LOWER in a meaningful way......I am expecting this weakness to continue till mid Jan 08......in an accelerating manner..then stable until all news confirms all writedowns and hope for economy "growing again"....
Can I be WRONG....YES.....
But I am going with with my personal assessment of RISK/REWARD ratio.......
I will be daytrading with 10% exposure only..........
The idea is to AVOID all stocks and BET on CONTRARY positions like QID & GLD......
In my OPINION...even strong stocks are behaving WEAK...as their UP moves are "restrained"
Once or IF we "break aug lows on S&P & Nasdaq.......leaders in tech will take a HIT also "
My strategy is to aggressively position on DOWN move with 10% exposure only......
So....If I am wrong...I am able to minimize my loss.....
But If my thesis is correct...then I will benefit from my "conviction".....
Please DO NOT mimick or follow my strategy.....unless you are willing to lose your entire exposure in this bet.......
Please do your own due diligence & find your own comfort level in this UNCERTAIN market environment.
The ONLY reason that I am detailing my new strategy...is .....because it is the biggest SHIFT/CHANGE in my outlook ever since I started investing first & trading lately......
As usual I will report all my trades if ANY @ 1130 AM & 730 PM...wether it was profitable or NOT.......
This BLOG practices honesty.....Integrity is the GOAL of my BLOG.....
I am KNOWN to follow TAPE....and CHANGE my MIND & STRATEGY on a dime......
I go where "money can be made".....
Opinions do NOT create a DIME...right trade does $$$$
I practice "unemotional trading...and do NOT hesitate to book a loss either...if the strategy is NOT working "
BLOG does not give buy or sell.
Good luck on RETHINKING/ADJUSTMENT in your own strategy !!!!
Saleem
Friday, November 23, 2007
Market staged a technical "bounce"
Markets staged a technical bounce after closing @ "lowest level since august on wed"
Volume was extremely "anaemic".........
The following TAPE analysis is given for technical types :
GOOG O $670 C $676.70 +
AAPL O $172 C $171.54-
BIDU O $314.54 C $308.86 -
RIMM O $113.05 C $113.85+
VMW O $82.61 C $78.84-
FSLR O $215.77 C $210.13-
GRMN O $93.40 C $91.86-
It is interesting to observe that Nasdaq opened @ 2578.99 and closed @ 2596.60......near HIGH !!
Out of the seven very strong stocks on Nasdaq...none closed @ high of the day.....& 5 out of 7 closed lower than open......
This is one of the many way's ...I determine "wether the TAPE has strength or built-in weakness"
It was "nice to see markets closed near high of the day...while DOW closed @ absolute HIGH of the day down to fractions...S&P500 had 1.69% gain,Dow 1.42% & Nasdaq 1.34%"......
As Nasdaq was showing strength all along...so it is ironic that it showed less gain than all other index......
As you can tell...that I am monitoring markets closely for any sign of strong rebound ...
I was strange to see BIDU not responding strongly after taking heavy pounding......Up only 94 cents......
In strong stock category :
STP was very strong on ML $100 target......
WFR,SNE,SOHU,BRCM,DELL,ISRG,SIRF,ICE,YHOO,GOOG,
IGT,LDK,LVS,NVDA,NYX,VLO,GRMN,TTM,JASO & HLIT
Please invest based on your time horizon & comfort level.
I am a trader by default (thanks to markets yo yo moves)...I have a very
"unemotional way of trading.....I like many many stocks FA & TA but the purpose of that
knowledge is to make money......
If I am not confident about making money in "next week.... then I like to be OUT of the market"
This is strictly "my way of thinking...others have different purpose to be in the market"
There are alway's some sector in the market which performs well...once I spot those then I will buy those stocks.......
Please enjoy rest of this holiday weekend.
My next post will be on monday around 11.30 AM followed by 730PM.
BLOG does not give buy or sell.
Saleem
Volume was extremely "anaemic".........
The following TAPE analysis is given for technical types :
GOOG O $670 C $676.70 +
AAPL O $172 C $171.54-
BIDU O $314.54 C $308.86 -
RIMM O $113.05 C $113.85+
VMW O $82.61 C $78.84-
FSLR O $215.77 C $210.13-
GRMN O $93.40 C $91.86-
It is interesting to observe that Nasdaq opened @ 2578.99 and closed @ 2596.60......near HIGH !!
Out of the seven very strong stocks on Nasdaq...none closed @ high of the day.....& 5 out of 7 closed lower than open......
This is one of the many way's ...I determine "wether the TAPE has strength or built-in weakness"
It was "nice to see markets closed near high of the day...while DOW closed @ absolute HIGH of the day down to fractions...S&P500 had 1.69% gain,Dow 1.42% & Nasdaq 1.34%"......
As Nasdaq was showing strength all along...so it is ironic that it showed less gain than all other index......
As you can tell...that I am monitoring markets closely for any sign of strong rebound ...
I was strange to see BIDU not responding strongly after taking heavy pounding......Up only 94 cents......
In strong stock category :
STP was very strong on ML $100 target......
WFR,SNE,SOHU,BRCM,DELL,ISRG,SIRF,ICE,YHOO,GOOG,
IGT,LDK,LVS,NVDA,NYX,VLO,GRMN,TTM,JASO & HLIT
Please invest based on your time horizon & comfort level.
I am a trader by default (thanks to markets yo yo moves)...I have a very
"unemotional way of trading.....I like many many stocks FA & TA but the purpose of that
knowledge is to make money......
If I am not confident about making money in "next week.... then I like to be OUT of the market"
This is strictly "my way of thinking...others have different purpose to be in the market"
There are alway's some sector in the market which performs well...once I spot those then I will buy those stocks.......
Please enjoy rest of this holiday weekend.
My next post will be on monday around 11.30 AM followed by 730PM.
BLOG does not give buy or sell.
Saleem
Sold everything @ Open ?????
I sold everything @ open today.........................
I am getting very "uncomfortable with this market"......
I am planning to stay out of this market until 2nd week of Jan 08.......
I watch "tape with great intensity and it is NOT building my confidence in the market"
Here is my Sale prices which I got filled @ :
AAPL $172......
RIMM $113.20....
FMCN $52....
SINA $44.23....
I am closing 2007 with a "stunning gain of 368% ".........
I have "no compelling reason to jeopardize this very RARE performance"...never achieved this in the past ever........
I will be watching the markets as regularly but with "no position ...until I feel deep value & comfortable with market TAPE........
I will be posting on my BLOG twice only ...11.30 AM & 7.30 PM.......
Please know your stocks "ticks & trend"........
FA & TA are both very useful....
Be very open minded about any stock.......
React very quickly if "market verdict is against you"......
Market message is very important to watch..wether "red or green"......
Never fight the TAPE.......
Never fight the TREND.....
Know strong stocks well...means resistance & support...because IT matters big time.....
There are many "proclaimed experts on many MB...they talk the talk very well......but do NOT walk the TALK @ all......"
Please continue doing your own due diligence...making money in the markets are NOT easy...just ask those "smooth talkers"...their overall performance is NEVER HOT ????
It is my continued "pleasure to give all of you my 2 cents worth...FWIW"
I remain short on CAD........it is down again this AM....
Good luck on rest of the day.
BLOG does not give buy or sell.
Saleem
I am getting very "uncomfortable with this market"......
I am planning to stay out of this market until 2nd week of Jan 08.......
I watch "tape with great intensity and it is NOT building my confidence in the market"
Here is my Sale prices which I got filled @ :
AAPL $172......
RIMM $113.20....
FMCN $52....
SINA $44.23....
I am closing 2007 with a "stunning gain of 368% ".........
I have "no compelling reason to jeopardize this very RARE performance"...never achieved this in the past ever........
I will be watching the markets as regularly but with "no position ...until I feel deep value & comfortable with market TAPE........
I will be posting on my BLOG twice only ...11.30 AM & 7.30 PM.......
Please know your stocks "ticks & trend"........
FA & TA are both very useful....
Be very open minded about any stock.......
React very quickly if "market verdict is against you"......
Market message is very important to watch..wether "red or green"......
Never fight the TAPE.......
Never fight the TREND.....
Know strong stocks well...means resistance & support...because IT matters big time.....
There are many "proclaimed experts on many MB...they talk the talk very well......but do NOT walk the TALK @ all......"
Please continue doing your own due diligence...making money in the markets are NOT easy...just ask those "smooth talkers"...their overall performance is NEVER HOT ????
It is my continued "pleasure to give all of you my 2 cents worth...FWIW"
I remain short on CAD........it is down again this AM....
Good luck on rest of the day.
BLOG does not give buy or sell.
Saleem
Blessed thanksgiving turkey bringing US luck !!!!
Futures are pointing UP accross the board.........
Thanksgiving may have given us the change in "sentiments which is crucial for turning this market UP"
Markets have tried to "discount the carnage of sub-prime writedowns...many many times..but we are being SPOOKED by each writedowns accross the globe"
The market sentiments is not about writedowns any more...it is about FEAR.......
Fear of recession....
Fear of housing collapse....
Fear of bear market......
Fear of China slowing down......
Fear of US $ further collapse ......
Fear is resulting in :
Collapse of US$...
Collapse of Zinc prices....
Collapse of Copper prices....
US stock market hitting the "proverbial skid or panic in last hour"
Indian stock market also tanked lately ????as their currency (rupee) hit sky high against US$ thus affecting exports and IT companies who reports in US$......
Canadian stock market has tanked because of slumping commodity prices & rising CAD..which is "hurting manufacturing big time......as it exports to US as the-largest trading partner....so Bank of Canada will rescue the Canadian economy by lowering interest rates as early as Dec 4 or in jan 08.......but markets have taken the cue and doing BOC dirty work......
So....after all that analysis by a trained economist (first degree was in economics)....where do we go from here :
-Focus on China & India for exposure especially @ this juncture because of currency appreciation which helps eps...because stock prices have collapsed...great entry point NOW.......like BIDU,STP,CTRP,FMCN,SINA,SOHU,AOB,CMED,FXI.....
-Focus on strong stocks in US & Canada which has worked.... like RIMM,AAPL,GOOG,FSLR,GRMN,ISRG,AMZN,VMW.......
Please do your own due diligence & find your own comfort level.....as markets are still CRAZY...
BLOG does not give buy or sell.
Saleem
Thanksgiving may have given us the change in "sentiments which is crucial for turning this market UP"
Markets have tried to "discount the carnage of sub-prime writedowns...many many times..but we are being SPOOKED by each writedowns accross the globe"
The market sentiments is not about writedowns any more...it is about FEAR.......
Fear of recession....
Fear of housing collapse....
Fear of bear market......
Fear of China slowing down......
Fear of US $ further collapse ......
Fear is resulting in :
Collapse of US$...
Collapse of Zinc prices....
Collapse of Copper prices....
US stock market hitting the "proverbial skid or panic in last hour"
Indian stock market also tanked lately ????as their currency (rupee) hit sky high against US$ thus affecting exports and IT companies who reports in US$......
Canadian stock market has tanked because of slumping commodity prices & rising CAD..which is "hurting manufacturing big time......as it exports to US as the-largest trading partner....so Bank of Canada will rescue the Canadian economy by lowering interest rates as early as Dec 4 or in jan 08.......but markets have taken the cue and doing BOC dirty work......
So....after all that analysis by a trained economist (first degree was in economics)....where do we go from here :
-Focus on China & India for exposure especially @ this juncture because of currency appreciation which helps eps...because stock prices have collapsed...great entry point NOW.......like BIDU,STP,CTRP,FMCN,SINA,SOHU,AOB,CMED,FXI.....
-Focus on strong stocks in US & Canada which has worked.... like RIMM,AAPL,GOOG,FSLR,GRMN,ISRG,AMZN,VMW.......
Please do your own due diligence & find your own comfort level.....as markets are still CRAZY...
BLOG does not give buy or sell.
Saleem
Wednesday, November 21, 2007
Happy Thanksgiving !!!!!
A very happy thanksgiving to all my US based visitors......
You all have made my BLOG very successful...I have exceeded 25,000 visitors in six months...so thanks for your participation in my BLOG content.....
Thanksgiving is a very good time to count our blessings.....
Good health,Good family,Good friends & focus on happiness is all that "really matters".....
The rest is scorekeeping......
Talking of scores....we had a very rough four weeks in the market....
This is a very good time to go back to the drawing board & start all over again......
Starting over means :
-New strategy.....
-New implementation of what really worked....
-New way of investing or trading.......
-New flexibility based on market conditions......
-It is never too-late to get out of a very bad trade.......
-Know your stocks fundamentals very well......
-Technicals do NOT assist you after initial drop.......all arrows point LOWER...which is NO help...it forces you to book a loss....
-Must show conviction to a good buy which "market endorses"
-What you think of your stocks "is irrelevant if market is not excited about"
-Alway's know the "resistance & support lines of each of your position"
-Alway's trade out if you are "near resistance"...you can alway's buy it back..no matter what it does...@ least you booked the profit.......
-Alway's do your own homework and NOT rely on pundits to do your job......
-Do not affect your conviction...against NOISE.....
-Make your own assessment of situation day by day......nobody really knows where markets or any stock is heading.....everybody has an opinion...so should you .......
Good luck on any of the above points ...if it is applicable to you....remember alway's ...making money in markets is not easy.....it takes lot of homework,experience & discipline.......luck plays a "much smaller role than people want to accept"
Canadian markets are open on thursday full day......I will be watching RIMM tape in Toronto...
Overall I had a profitable day again ..thanks to my $$$ allocation & benefit from my short position in Canadian $$...which went down again...I have gained 8.31% on my short since 7th of nov.....which not only eliminated all my loss ..but put me ahead in the "brutal two week"......
My portfolio remains :
AAPL,FMCN,SINA & RIMM.
Next post friday around 845 AM.
Enjoy the stuffed turkey w cranberry sauce !!!
Saleem
You all have made my BLOG very successful...I have exceeded 25,000 visitors in six months...so thanks for your participation in my BLOG content.....
Thanksgiving is a very good time to count our blessings.....
Good health,Good family,Good friends & focus on happiness is all that "really matters".....
The rest is scorekeeping......
Talking of scores....we had a very rough four weeks in the market....
This is a very good time to go back to the drawing board & start all over again......
Starting over means :
-New strategy.....
-New implementation of what really worked....
-New way of investing or trading.......
-New flexibility based on market conditions......
-It is never too-late to get out of a very bad trade.......
-Know your stocks fundamentals very well......
-Technicals do NOT assist you after initial drop.......all arrows point LOWER...which is NO help...it forces you to book a loss....
-Must show conviction to a good buy which "market endorses"
-What you think of your stocks "is irrelevant if market is not excited about"
-Alway's know the "resistance & support lines of each of your position"
-Alway's trade out if you are "near resistance"...you can alway's buy it back..no matter what it does...@ least you booked the profit.......
-Alway's do your own homework and NOT rely on pundits to do your job......
-Do not affect your conviction...against NOISE.....
-Make your own assessment of situation day by day......nobody really knows where markets or any stock is heading.....everybody has an opinion...so should you .......
Good luck on any of the above points ...if it is applicable to you....remember alway's ...making money in markets is not easy.....it takes lot of homework,experience & discipline.......luck plays a "much smaller role than people want to accept"
Canadian markets are open on thursday full day......I will be watching RIMM tape in Toronto...
Overall I had a profitable day again ..thanks to my $$$ allocation & benefit from my short position in Canadian $$...which went down again...I have gained 8.31% on my short since 7th of nov.....which not only eliminated all my loss ..but put me ahead in the "brutal two week"......
My portfolio remains :
AAPL,FMCN,SINA & RIMM.
Next post friday around 845 AM.
Enjoy the stuffed turkey w cranberry sauce !!!
Saleem
Typical bottoming process after major selloff !!!!
Markets are showing typical bottoming process by being down big early and hopefully improvement by close......
Keep an eye for Aug low...S&P is 1406.....my GUESS...we MAY turn there..hopefully...
It ain't over till it is over.....is the ONLY guideline.......
Those who spotted overbought conditions few weeks back.....have pared down including me to a much desireable risk/reward level......
Exposure needs to be monitored based on how the markets are behaving.......aggressive when we are flying ..........& conservative when we are struggling & heading lower.......
In my portfolio :
FMCN is UP 14 Cents...after testing support around $49.56 area.....
SINA down $1.17......
AAPL down $2.05....
RIMM down $1.86.....
My portfolio is getting a big help with my Canadian $ short...I am already UP 1% in my portfolio...so that is an offset to my portfolio...so far.......
@11.39 AM the following are showing green :
CMED ( on good ER),GOOG (on $900 target),WYN,NMX,IIJI,
QID,NTRI.
Good luck on an improved close.
BLOG does not give buy or sell.
Saleem
Keep an eye for Aug low...S&P is 1406.....my GUESS...we MAY turn there..hopefully...
It ain't over till it is over.....is the ONLY guideline.......
Those who spotted overbought conditions few weeks back.....have pared down including me to a much desireable risk/reward level......
Exposure needs to be monitored based on how the markets are behaving.......aggressive when we are flying ..........& conservative when we are struggling & heading lower.......
In my portfolio :
FMCN is UP 14 Cents...after testing support around $49.56 area.....
SINA down $1.17......
AAPL down $2.05....
RIMM down $1.86.....
My portfolio is getting a big help with my Canadian $ short...I am already UP 1% in my portfolio...so that is an offset to my portfolio...so far.......
@11.39 AM the following are showing green :
CMED ( on good ER),GOOG (on $900 target),WYN,NMX,IIJI,
QID,NTRI.
Good luck on an improved close.
BLOG does not give buy or sell.
Saleem
Here wo AGAIN.....futures down BIG ???
Markets are predicting another sharp drop @ open........
This is another version of jawboning by wall street to fed ...to lower fed funds rate.....
As I have done myself...have a reduced exposure to market ..until we see strength......
Normally strong stocks are holding their own.....and they normally are higher when market improves....
I still have the same portfolio :
AAPL,SINA,FMCN & RIMM......
My canadian $ short is working like a charm.....I am already UP 1% today as Canadian $ is tanking against US$ big time..due to poor retail sales in Canada.......
GOLD is UP $6.90
OIL is UP 29 cents
Good luck @ open......
BLOG does not give buy or sell.
Saleem
This is another version of jawboning by wall street to fed ...to lower fed funds rate.....
As I have done myself...have a reduced exposure to market ..until we see strength......
Normally strong stocks are holding their own.....and they normally are higher when market improves....
I still have the same portfolio :
AAPL,SINA,FMCN & RIMM......
My canadian $ short is working like a charm.....I am already UP 1% today as Canadian $ is tanking against US$ big time..due to poor retail sales in Canada.......
GOLD is UP $6.90
OIL is UP 29 cents
Good luck @ open......
BLOG does not give buy or sell.
Saleem
Tuesday, November 20, 2007
Fed talks ..market tanks and recovers ???
Markets played another YO YO whole day.......
Market shrugged off Freddie Mac troubles & ran higher......
Fed released policy statement @ 2PM...markets gave up all gains in advance of report....
After release of Fed report...market went into triple digit loss and nasdaq loss was almost 36....
@ 3.45 PM market ignored the fed policy statement and went up to close green in all indices ???
There is a CHANCE that markets have discounted all the issues with financials.....only time will tell...thus a rebound today !!!!
My portfolio was on a major roller coaster whole day...thanks to FMCN...which tanked $10.15 @ one stage......on very heavy volume......then a miraculous recovery by close Down $5.15 to close @ $52....this was most "surprising as both Citigroup & Goldman kept a BUY ????I thought these two analyst controls the market...so another theory down the drain......
SINA UP 89 cents....
AAPL UP $4.90....
RIMM UP $1.79.....
Overall my portfolio was UP .10%......but I may lose a fraction because Canadian $ is UP 58 tick against US$....so my Canadian short may cost me few $...will know in AM.......
CMED reported very good numbers Q2 higher Sales & EPS and guiding as expected higher in sales & EPS for FY 3/08......Higher $2.48 @ bid on very low volume ????
Market is giving the impression that LOW was reached today..... and RETEST of Aug low was successfully done today also........?????
It is very important to know FA & TA in this difficult market.....if you have SOLID conviction...then only you will do well...otherwise you will be selling @ LOW and buying much higher......
I have my "best four ideas & I am sticking with it"
@ this stage TA is not of much help...as most stocks have broken down......
I have two very strong stocks RIMM & AAPL.....and also have two laggards FMCN & SINA.....on most day's they offset each other & if I am lucky I have been moving ahead....very slowly !!!!
Good luck for wed.
BLOG does not give buy or sell.
Saleem
Market shrugged off Freddie Mac troubles & ran higher......
Fed released policy statement @ 2PM...markets gave up all gains in advance of report....
After release of Fed report...market went into triple digit loss and nasdaq loss was almost 36....
@ 3.45 PM market ignored the fed policy statement and went up to close green in all indices ???
There is a CHANCE that markets have discounted all the issues with financials.....only time will tell...thus a rebound today !!!!
My portfolio was on a major roller coaster whole day...thanks to FMCN...which tanked $10.15 @ one stage......on very heavy volume......then a miraculous recovery by close Down $5.15 to close @ $52....this was most "surprising as both Citigroup & Goldman kept a BUY ????I thought these two analyst controls the market...so another theory down the drain......
SINA UP 89 cents....
AAPL UP $4.90....
RIMM UP $1.79.....
Overall my portfolio was UP .10%......but I may lose a fraction because Canadian $ is UP 58 tick against US$....so my Canadian short may cost me few $...will know in AM.......
CMED reported very good numbers Q2 higher Sales & EPS and guiding as expected higher in sales & EPS for FY 3/08......Higher $2.48 @ bid on very low volume ????
Market is giving the impression that LOW was reached today..... and RETEST of Aug low was successfully done today also........?????
It is very important to know FA & TA in this difficult market.....if you have SOLID conviction...then only you will do well...otherwise you will be selling @ LOW and buying much higher......
I have my "best four ideas & I am sticking with it"
@ this stage TA is not of much help...as most stocks have broken down......
I have two very strong stocks RIMM & AAPL.....and also have two laggards FMCN & SINA.....on most day's they offset each other & if I am lucky I have been moving ahead....very slowly !!!!
Good luck for wed.
BLOG does not give buy or sell.
Saleem
Market are Rallying !!!!
Markets are rallying inspite of negatine news from Freddy Mac......
Is markets finally telling us that we have seen this correction ????
Markets & stocks are extremely unpredictable...so it is always a good idea to have "reasonable exposure in the markets"...
In my portfolio :
FMCN is slumping to lows of the day...inspite of increased target by Citigroup to $80 and a buy rating...Goldman Sachs also repeated a buy with $65 target......
Looks like some hedge funds are playing "big time with FMCN & driving it to the ground to accummulate as many shares on the CHEAP "
FMCN which is currently down $6.65 on heavy volume...is a screaming buy..based on past & future business trends.....FMCN is the-most undervalued stock in China based on its growth prospects.......
SINA is UP $1.22.......recovering from ER reaction also......
AAPL is UP $7.15......
RIMM is UP $5.50 on an upgrade from Thomas Weisel to "outperform"...
All I can reinforce that one must pay attention to $ allocation & staying in different industries ..which CAN & DOES protect you in a situation like FMCN...which is very temporary...
@11.20 AM the following are strong :
BIDU,GOOG,GRMN,VMW,RVBD,JASO,SNDA,NCTY,TSL,ISRG,
SNDK,WYNN,LVS,NYX,VLO,SNE,SOHU,NMR,AKAM,MA,CIEN.
Good luck on fed policy release.
Monitor your stocks closely for your own comfort level.
BLOG does not give buy or sell.
Saleem
Is markets finally telling us that we have seen this correction ????
Markets & stocks are extremely unpredictable...so it is always a good idea to have "reasonable exposure in the markets"...
In my portfolio :
FMCN is slumping to lows of the day...inspite of increased target by Citigroup to $80 and a buy rating...Goldman Sachs also repeated a buy with $65 target......
Looks like some hedge funds are playing "big time with FMCN & driving it to the ground to accummulate as many shares on the CHEAP "
FMCN which is currently down $6.65 on heavy volume...is a screaming buy..based on past & future business trends.....FMCN is the-most undervalued stock in China based on its growth prospects.......
SINA is UP $1.22.......recovering from ER reaction also......
AAPL is UP $7.15......
RIMM is UP $5.50 on an upgrade from Thomas Weisel to "outperform"...
All I can reinforce that one must pay attention to $ allocation & staying in different industries ..which CAN & DOES protect you in a situation like FMCN...which is very temporary...
@11.20 AM the following are strong :
BIDU,GOOG,GRMN,VMW,RVBD,JASO,SNDA,NCTY,TSL,ISRG,
SNDK,WYNN,LVS,NYX,VLO,SNE,SOHU,NMR,AKAM,MA,CIEN.
Good luck on fed policy release.
Monitor your stocks closely for your own comfort level.
BLOG does not give buy or sell.
Saleem
Markets waiting for fed policy statement & minutes ????
All the hoopla from HPQ good ER is fading...thanks to another sub-prime mess issue raised by Freddy Mac......guess what...they are looking for ways to raise money.......
Markets are trying very hard to discount all sub-prime mess...but new issues keeps cropping up...day after day.....
RIMM was upgraded this AM to "overweight" by Thomas Weisel......
FMCN conference call was very "upbeat & detailed about margins"......the question is if Analyst are going to support FMCN or not......
Today's close on markets and FMCN will be very critical......to determine strength & support...
FMCN has traded 180,000 shares by 8.57 AM and is NOT trading @ low of the morning...which is a hopeful sign...but still down another $3+++
GOOG,BIDU,RIMM , AAPL,FSLR ,JASO,VMW are trying to buck the downtrend in the pre-market.....
Good luck on fed policy/minutes day.......
BLOG does not give buy or sell.
Saleem
Markets are trying very hard to discount all sub-prime mess...but new issues keeps cropping up...day after day.....
RIMM was upgraded this AM to "overweight" by Thomas Weisel......
FMCN conference call was very "upbeat & detailed about margins"......the question is if Analyst are going to support FMCN or not......
Today's close on markets and FMCN will be very critical......to determine strength & support...
FMCN has traded 180,000 shares by 8.57 AM and is NOT trading @ low of the morning...which is a hopeful sign...but still down another $3+++
GOOG,BIDU,RIMM , AAPL,FSLR ,JASO,VMW are trying to buck the downtrend in the pre-market.....
Good luck on fed policy/minutes day.......
BLOG does not give buy or sell.
Saleem
Monday, November 19, 2007
FMCN beats on Sales..matches EPS ...stock down AH ???
FMCN in Q3 reported major beat in sales by +$22 million......
Q3 EPS in-line......
Margins took a hit in Q3...reason..... integration issue and some low margin acquisition...
FMCN predicting improving margin in internet ad......
FMCN guiding Sales Higher by $ 22.40 million.....in Q4...
Q4 guidance... eps in line of 49 Cents.......
Stocks down another $4 for a total of $6.05 down for the day.......
By 6.17 PM volume traded AH is 462,524 in 77 minutes.......
Please make your own decision about FMCN.......
I will be listening to their CC @ 8PM...and will post my take around 8.45 AM.......
My portfolio was down 1.4%...but my short in Canadian $ will makeup for all the loss....I will know the exact $ amount in the morning account update.
HPQ reported better than expected numbers and guiding higher also......
Markets are reaching august lows...S&P 500 august low was 1406.......today we closed @ 1433.27.....
Markets are extremely unpredictable these days...I am maintaining my comfort level with reduced exposure........
No one can predict when this market will turn......but we are definitely in deep deep oversold territory.....so a bounce can come anytime...then I am ready with 4 stocks to participate.....
Strong stocks will perform better in this difficult market.......
Good luck on fed minutes release for tuesday trading.......
BLOG does not give buy or sell.
Saleem
Q3 EPS in-line......
Margins took a hit in Q3...reason..... integration issue and some low margin acquisition...
FMCN predicting improving margin in internet ad......
FMCN guiding Sales Higher by $ 22.40 million.....in Q4...
Q4 guidance... eps in line of 49 Cents.......
Stocks down another $4 for a total of $6.05 down for the day.......
By 6.17 PM volume traded AH is 462,524 in 77 minutes.......
Please make your own decision about FMCN.......
I will be listening to their CC @ 8PM...and will post my take around 8.45 AM.......
My portfolio was down 1.4%...but my short in Canadian $ will makeup for all the loss....I will know the exact $ amount in the morning account update.
HPQ reported better than expected numbers and guiding higher also......
Markets are reaching august lows...S&P 500 august low was 1406.......today we closed @ 1433.27.....
Markets are extremely unpredictable these days...I am maintaining my comfort level with reduced exposure........
No one can predict when this market will turn......but we are definitely in deep deep oversold territory.....so a bounce can come anytime...then I am ready with 4 stocks to participate.....
Strong stocks will perform better in this difficult market.......
Good luck on fed minutes release for tuesday trading.......
BLOG does not give buy or sell.
Saleem
Where is the support in S&P 500 ????
Sorry for the delay...A friend called long distance........
Markets are doing the usual.......down sharply.......
When I am looking for support......I see a major support in S&P 500 in 1420 area...which is 18 points away....
Instead of worrying about markets and its support...the focus should be on...do you have the stocks which has the-best chance of moving UP when markets recovers ?????
I still believe that strong stocks alway's recovers fast.........
All my stocks are showing loss like the market.......
FMCN reports tonight...hoping for a good guidance........
I added 36% SINA @ open...which was NOT the smartest move.....but I do NOT worry about today's price ...but SINA stock price a month from now.....my cost of SINA went down to $54.02.....which is a drop from my previous cost of $56.92...
My portfolio remained unchanged...and they are :
AAPL,FMCN,SINA & RIMM........
My loss from today if any .....will be negated by a sharp drop in Canadian $...so my short position will help my overall portfolio by .9%...so far.......
@12.14 PM the following are green :
CMED ( reports AH tuesday),ISRG (recovering after $60+ drubbing),
ICE ( new 52 wk high),FSLR,QID.
Today is a very good day to "make a switch into strong stocks...as they are trying to turn with any improvement.....Tape is very strong even in negative territory on famous names..which MAY be near its support/low"
Good luck on a better close.
BLOG does not give buy or sell.
Saleem
Markets are doing the usual.......down sharply.......
When I am looking for support......I see a major support in S&P 500 in 1420 area...which is 18 points away....
Instead of worrying about markets and its support...the focus should be on...do you have the stocks which has the-best chance of moving UP when markets recovers ?????
I still believe that strong stocks alway's recovers fast.........
All my stocks are showing loss like the market.......
FMCN reports tonight...hoping for a good guidance........
I added 36% SINA @ open...which was NOT the smartest move.....but I do NOT worry about today's price ...but SINA stock price a month from now.....my cost of SINA went down to $54.02.....which is a drop from my previous cost of $56.92...
My portfolio remained unchanged...and they are :
AAPL,FMCN,SINA & RIMM........
My loss from today if any .....will be negated by a sharp drop in Canadian $...so my short position will help my overall portfolio by .9%...so far.......
@12.14 PM the following are green :
CMED ( reports AH tuesday),ISRG (recovering after $60+ drubbing),
ICE ( new 52 wk high),FSLR,QID.
Today is a very good day to "make a switch into strong stocks...as they are trying to turn with any improvement.....Tape is very strong even in negative territory on famous names..which MAY be near its support/low"
Good luck on a better close.
BLOG does not give buy or sell.
Saleem
Another "tough open"......
Markets are all set to open lower........Thanks to :
GS sell rating on Citigroup.......as they cite coming writedowns to continue for two quarters adding upto $15 billion..vs Citi claims of $8 to $11 billion.....writedowns.....
I have seen this bottomimg process...many many times...it is alway's very frustrating & depressing and looks very bleak......
I am sure that we will come out of this painful bottoming action...where one feels like "throwing UP & sell everything in frustration".......
Try NOT to be in a position of margin call or NOT to exceed your comfort level......
Some of the best buying opportunity comes when everyone is very frustrated & pessimism is rampant......sign that we may be close to bottom ???.....
BIDU is further down......
RIMM is down......
AAPL is down .....
GOOG is down.....
FSLR is down......
AMZN is down......
VMW is down......
Why do I list the above stocks......because one can start "nibbling in these @ current levels"..do not buy for "daytrading purpose but for building a position for long term"
Techs will be in "vogue again"..as Q4 is strong for techs.....so a year end rally cannot be ruled out.......
Good luck @ open.
Please do your own due diligence.
BLOG does not give buy or sell.
Saleem
GS sell rating on Citigroup.......as they cite coming writedowns to continue for two quarters adding upto $15 billion..vs Citi claims of $8 to $11 billion.....writedowns.....
I have seen this bottomimg process...many many times...it is alway's very frustrating & depressing and looks very bleak......
I am sure that we will come out of this painful bottoming action...where one feels like "throwing UP & sell everything in frustration".......
Try NOT to be in a position of margin call or NOT to exceed your comfort level......
Some of the best buying opportunity comes when everyone is very frustrated & pessimism is rampant......sign that we may be close to bottom ???.....
BIDU is further down......
RIMM is down......
AAPL is down .....
GOOG is down.....
FSLR is down......
AMZN is down......
VMW is down......
Why do I list the above stocks......because one can start "nibbling in these @ current levels"..do not buy for "daytrading purpose but for building a position for long term"
Techs will be in "vogue again"..as Q4 is strong for techs.....so a year end rally cannot be ruled out.......
Good luck @ open.
Please do your own due diligence.
BLOG does not give buy or sell.
Saleem
Friday, November 16, 2007
TGIF.........
Last three weeks has been the-most painful week of my investing life........
My investing life includes 5 year bear market from 1972 to aug 1977 when Dow went from 1000 to 760...where I held three stocks which went nowhere but down...they were MF (Massey Ferguson...a tractor company like John Deere of today),RI (Royal Industries...auto parts maker) & WFI (Wheelabrator Frye...Pollution control company).....All I could do after 2.5 year of holding these stocks was to use as collateral to buy a brand new Car in Canada in 1974.......
Then I saw 1987 crash........
Then i saw 1990 slump.....
Then 2000 rout.......
But all of them looked pale compared to last 3 weeks of down..down..& down.......
So the moral of the story is...that you need to be READY for a decline like what we have seen lately......never overexpose yourself to market decline........
Pull profit out of the market when you have gain........
I know...I have emphasized all this before...over & over...but there is a need to repeat again.....
Today my portfolio gained 2.5%..not bad considering 1.2% loss today in my Canadian $ short position...which went against me today.....otherwise my gain for the day would have been 3.7%...
Luckily my portfolio was UP 3.3% for the week... mostly through my being short Canadian $.......a major accomplishment considering the horrendous downdraft we had in last week....
AAPL moved above 50dma on very heavy 49.4 million+ volume closed UP $2.09....
RIMM moved above 50dma on extremely heavy 57.3 million +volume 250% more...comfortably trading above 50dma in AH.......Up $4.56......
FMCN "my superstar was UP $4.92 on very heavy volume above 50dma...reports AH monday"
SINA closed UP 2 cents after making a "triple bottom".........
Among other stocks :
FSLR UP $21.68 (Jimmy the Cramer told his TV audience on thursday "do NOT buy until $170 " .....on friday he was trying to weasle out of his thursday retarded call........closed @ $212...
GRMN UP $13.51 on signing a new long term agreement with NVT and giving up on Tele Atlas..
BIDU was "surprisingly weak down $12.71"...do not follow closely so do not know why ????
NCTY was taken to the chopping block on ER....down $10.12.......
I think we all need to "recover from a very traumatic 3 weeks"......
I will NOT be posting any list of weak/strong or momentum stocks......as everything looks weak...So NO saturday post......
Try to rethink your investing style based on your own performance for the year ...so far....
The ONLY advice I will give is that you need to know about the stocks you invest or trade in.....then you will develop conviction...which is absolutely critical for today's environment...getting stopped out is NOT an accomplishment.....imo
BLOG does not give buy or sell.
Next post monday around 845 AM.
Have a relaxing weekend....I need to !!!!
Saleem
My investing life includes 5 year bear market from 1972 to aug 1977 when Dow went from 1000 to 760...where I held three stocks which went nowhere but down...they were MF (Massey Ferguson...a tractor company like John Deere of today),RI (Royal Industries...auto parts maker) & WFI (Wheelabrator Frye...Pollution control company).....All I could do after 2.5 year of holding these stocks was to use as collateral to buy a brand new Car in Canada in 1974.......
Then I saw 1987 crash........
Then i saw 1990 slump.....
Then 2000 rout.......
But all of them looked pale compared to last 3 weeks of down..down..& down.......
So the moral of the story is...that you need to be READY for a decline like what we have seen lately......never overexpose yourself to market decline........
Pull profit out of the market when you have gain........
I know...I have emphasized all this before...over & over...but there is a need to repeat again.....
Today my portfolio gained 2.5%..not bad considering 1.2% loss today in my Canadian $ short position...which went against me today.....otherwise my gain for the day would have been 3.7%...
Luckily my portfolio was UP 3.3% for the week... mostly through my being short Canadian $.......a major accomplishment considering the horrendous downdraft we had in last week....
AAPL moved above 50dma on very heavy 49.4 million+ volume closed UP $2.09....
RIMM moved above 50dma on extremely heavy 57.3 million +volume 250% more...comfortably trading above 50dma in AH.......Up $4.56......
FMCN "my superstar was UP $4.92 on very heavy volume above 50dma...reports AH monday"
SINA closed UP 2 cents after making a "triple bottom".........
Among other stocks :
FSLR UP $21.68 (Jimmy the Cramer told his TV audience on thursday "do NOT buy until $170 " .....on friday he was trying to weasle out of his thursday retarded call........closed @ $212...
GRMN UP $13.51 on signing a new long term agreement with NVT and giving up on Tele Atlas..
BIDU was "surprisingly weak down $12.71"...do not follow closely so do not know why ????
NCTY was taken to the chopping block on ER....down $10.12.......
I think we all need to "recover from a very traumatic 3 weeks"......
I will NOT be posting any list of weak/strong or momentum stocks......as everything looks weak...So NO saturday post......
Try to rethink your investing style based on your own performance for the year ...so far....
The ONLY advice I will give is that you need to know about the stocks you invest or trade in.....then you will develop conviction...which is absolutely critical for today's environment...getting stopped out is NOT an accomplishment.....imo
BLOG does not give buy or sell.
Next post monday around 845 AM.
Have a relaxing weekend....I need to !!!!
Saleem
OE game "coming to an end...right on cue "
Markets ignored CSCO $10 billion stock buyback...to focus on where the real money is..in the option pit......
Now that.... they have covered all their options @ 0........life is very good for hedgies.....
Now the hedgies are focussing on taking the leaders higher.......
All the strong stocks are "snapping UP in a hurry"...ever wondered why.....because NOW that is where the money will be made.....
Wall street is very predictable.....but MOST investors/traders are very PESSIMISTIC @ the bottom (today) and very EUPHORIC @ the TOP.......
What I do..... is take out a good chunk of equity near top...and then keep my desire to trade or be in the market in a controlled fashion.......
I also keep getting out of "iffy stocks for whatever reason near bottom"......
Why......I am writing all this.....to help those who have NOT figured out a strategy of knowing what works ......and HOW to preserve capital........
I am as greedy as the next trader...but keep a "lock box approach to investing"
Alway's KNOW your stocks well FA & TA wise......also knowing trading pattern of each stock helps to locate support & resistance area........guides you to stay in @ support and trade for profit near resistance......
Lot of traders are worrying "too much about markets...but not ENOUGH about knowing good stocks...knowing & spotting strong stocks is NOT that difficult......but some are stuck in highly speculative stocks even @ market bottom (today)......
OK...I know ..I know.....enough about trading "mumbo jumbo"....
In my portfolio :
FMCN "is the superstar in my show UP $2.12...reports AH monday...expect a beat & higher guidance......
SINA is down 73 cents....on high volume...I think it made a triple bottom today.....
AAPL UP 44 cents...in recovery phase......
RIMM down $1.73 in intensive care phase.....
@11.30 the following are green :
FSLR,STP,JASO,LDK,CSIQ,GRMN,VMW,SIRF,YHOO,WYNN,
LVS,NVDA,NYX,VLO,WFR,HPQ (on upgrade),CSCO ($10 billion buyback talks).
Hope you all have positioned in strong stocks "when they were on FIRE SALE due to OE"....????
Please do your own due diligence & find your own comfort level.
BLOG does not give buy or sell.
Saleem
Now that.... they have covered all their options @ 0........life is very good for hedgies.....
Now the hedgies are focussing on taking the leaders higher.......
All the strong stocks are "snapping UP in a hurry"...ever wondered why.....because NOW that is where the money will be made.....
Wall street is very predictable.....but MOST investors/traders are very PESSIMISTIC @ the bottom (today) and very EUPHORIC @ the TOP.......
What I do..... is take out a good chunk of equity near top...and then keep my desire to trade or be in the market in a controlled fashion.......
I also keep getting out of "iffy stocks for whatever reason near bottom"......
Why......I am writing all this.....to help those who have NOT figured out a strategy of knowing what works ......and HOW to preserve capital........
I am as greedy as the next trader...but keep a "lock box approach to investing"
Alway's KNOW your stocks well FA & TA wise......also knowing trading pattern of each stock helps to locate support & resistance area........guides you to stay in @ support and trade for profit near resistance......
Lot of traders are worrying "too much about markets...but not ENOUGH about knowing good stocks...knowing & spotting strong stocks is NOT that difficult......but some are stuck in highly speculative stocks even @ market bottom (today)......
OK...I know ..I know.....enough about trading "mumbo jumbo"....
In my portfolio :
FMCN "is the superstar in my show UP $2.12...reports AH monday...expect a beat & higher guidance......
SINA is down 73 cents....on high volume...I think it made a triple bottom today.....
AAPL UP 44 cents...in recovery phase......
RIMM down $1.73 in intensive care phase.....
@11.30 the following are green :
FSLR,STP,JASO,LDK,CSIQ,GRMN,VMW,SIRF,YHOO,WYNN,
LVS,NVDA,NYX,VLO,WFR,HPQ (on upgrade),CSCO ($10 billion buyback talks).
Hope you all have positioned in strong stocks "when they were on FIRE SALE due to OE"....????
Please do your own due diligence & find your own comfort level.
BLOG does not give buy or sell.
Saleem
Fed trying to spoil today's "snapback"..Thank you CSCO buyback $$$
Fed governor is talking and saying they will not necessarily lower rates..even if data is weak....while bond market begs to differ ?????
This statement play's directly into shorts hand.......
Futures are UP accross the board....inspite of overseas loss... based on CSCO huge buyback !!!
GRMN is UP $20 on not bidding for Tele Atlas......
NCTY down $4....also on ER.....
SBUX down almost $2 on ER
All the strong stocks are showing sign of life..but nothing to write home about...so far.....
GOOG,BIDU,AAPPL,RIMM are all UP......
Good luck on rest of the day.
BLOG does not give buy or sell.
Saleem
This statement play's directly into shorts hand.......
Futures are UP accross the board....inspite of overseas loss... based on CSCO huge buyback !!!
GRMN is UP $20 on not bidding for Tele Atlas......
NCTY down $4....also on ER.....
SBUX down almost $2 on ER
All the strong stocks are showing sign of life..but nothing to write home about...so far.....
GOOG,BIDU,AAPPL,RIMM are all UP......
Good luck on rest of the day.
BLOG does not give buy or sell.
Saleem
Thursday, November 15, 2007
Market so deeply oversold......rally imminent $$$$
This is a very difficult environment to make money or avoid losing money......
Because of negative environment and OE...they are taking turn killing each stock......
It is almost a guessing game...which stock is next on the "chopping block".....
Because of the above scenario being played and replayed.......
I had to get more defensive.......
I reduced my exposure to the market...one more time.......
I sold all CMED and booked a loss of $2.64...my second loss in 21 trade.....
Now my portfolio is :
AAPL,FMCN,SINA & RIMM......
Pacific Crest analyst also increased the target on SINA today from $53 to $61....and liked the LOWER operating expense.....So all in all 3 analyst increased their price target for SINA....
My portfolio was down 1.8%...thanks to my short in Canadian $...which tanked again today...I will know the exact $ gain in AM but it sounds like I gained 2% in my entire portfolio...how sweet it is to have a parallel position in my trading account.....
What I am trying to determine is ....if we have a "big rally...which set of stocks will get me OPTIMUM $.......without being either overexposed or impending ER related selloff.....
As I have stated before.... CMED reports tuesday AH....so MM/Hedgies/Analyst have 3 more trading day's to play game.......so I am out of the way of the "firing line"......
Most solar stocks were flying high...FSLR,LDK,STP to name a few.......I have a feeling that this sector is "overbought and maybe next on the chopping block"
So looks like OE actual day "may NOT be brutal...and hopefully will give us green "
I alway's re-evaluate my exposure and do NOT hesitate to increase my own comfort level and @ the same time still positioned for MAX gain $$$$$
Trading is a long-term scenario for me ...so it is an extremely "un-emotional approach to buying & selling"
All stocks have only "one purpose...is to position me for making money "
I know it is very TOUGH for most people to do that...as they are emotionally attached to their picks.....but the market does not care about FA or TA...if it chooses to do so.....
That is why..... I pay a whole lot of attention to volume and tape action........
All strong stocks took it on the chin.....GOOG,BIDU,RIMM........
Hoping for a better day..then we can say TGIF $$$$$
BLOG does not give buy or sell.
Saleem
Because of negative environment and OE...they are taking turn killing each stock......
It is almost a guessing game...which stock is next on the "chopping block".....
Because of the above scenario being played and replayed.......
I had to get more defensive.......
I reduced my exposure to the market...one more time.......
I sold all CMED and booked a loss of $2.64...my second loss in 21 trade.....
Now my portfolio is :
AAPL,FMCN,SINA & RIMM......
Pacific Crest analyst also increased the target on SINA today from $53 to $61....and liked the LOWER operating expense.....So all in all 3 analyst increased their price target for SINA....
My portfolio was down 1.8%...thanks to my short in Canadian $...which tanked again today...I will know the exact $ gain in AM but it sounds like I gained 2% in my entire portfolio...how sweet it is to have a parallel position in my trading account.....
What I am trying to determine is ....if we have a "big rally...which set of stocks will get me OPTIMUM $.......without being either overexposed or impending ER related selloff.....
As I have stated before.... CMED reports tuesday AH....so MM/Hedgies/Analyst have 3 more trading day's to play game.......so I am out of the way of the "firing line"......
Most solar stocks were flying high...FSLR,LDK,STP to name a few.......I have a feeling that this sector is "overbought and maybe next on the chopping block"
So looks like OE actual day "may NOT be brutal...and hopefully will give us green "
I alway's re-evaluate my exposure and do NOT hesitate to increase my own comfort level and @ the same time still positioned for MAX gain $$$$$
Trading is a long-term scenario for me ...so it is an extremely "un-emotional approach to buying & selling"
All stocks have only "one purpose...is to position me for making money "
I know it is very TOUGH for most people to do that...as they are emotionally attached to their picks.....but the market does not care about FA or TA...if it chooses to do so.....
That is why..... I pay a whole lot of attention to volume and tape action........
All strong stocks took it on the chin.....GOOG,BIDU,RIMM........
Hoping for a better day..then we can say TGIF $$$$$
BLOG does not give buy or sell.
Saleem
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