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
16 comments:
SALEEM
SALEEM
thanks ever so MUCH for trhe fantastic WORK that you do. While I am not the smartest guy, I can still understand what you say and appreciate the knowledge that you offer.
So ignore the CMED board, plz..
I was shocked that you sold all shares including AAPL and RIMM. I am trying to sell into the ralleys as I too am scared about this market.
Took loss on Selling CMED, STV, RVBD,
Holding 25 AAPL, 60 RIMM, DSX and 100 shares of CHL at $99.
I am now about 20% cash.
Comments always appreciated
hi saleem
its a long time since i have spoken to you. i dont trade much these days as it is so difficult to do so. but i do follow the message board and learn from you all.
today i just bought some vmw, and losing some money. 100 shares at 75. i should have used stop price. but it is too late.
what do you think of vmw?
thannks in advance.
steve
Hi Madmax,
Thanks for your feedback re CMED board...I will not post there.
Sorry to hear about your loss sales.
Whenever I am NOT sure about the markets...I take a defensive posture.
When markets discount everything ...then I will reposition.
Nobody can time the market....but I like peace of mind...when there is turmoil & reduce my exposure.
AAPL & RIMM is behaving very strong ...so stay with those position.
I have NOT followed CHL & DSX...so cannot offer an opinion.
I am more than happy to reply to any question..from anyone....It is always a pleasure.
Saleem
Hi Steve,
VMW is NOT behaving well....I would rather have you in RIMM or AAPL.
How is the crown prince these day's.
Say hi to your family.
Saleem
hi saleem
you still remember me. i am so surprised to know that. you remember even my little one. he is 6 months old. enjoying him every moment.
i know how you feel about some people's remarks. once i told you that you should not be controlled by others. yet we are all human. at times it is very hurting. i can understand your feelings. dont worry about them. you just cant please everyone in this world.
i always think of you with utmost respect as you want to help others. . i have only words of admiration for you.
my little prince is keeping fine. it really touched me when you mentioned about my son. he is my love of my life. you are a nice person.you keep everything in your mind, even the little things we share(though it is not a little thing) how many people can keep a record of it. i am proud of you my frieend.
forget about what other people say. be good and do good. keep up the good work you do for others
little things make perfection, but perfection is not a little thing.
steve
Hi Steve,
Nice to know that the crown prince will be one year old in six months...you also mentioned that ..he is a Taurus like me.
I am a very good Taurus..and hope your love of life..will be even better than me..for sure.
Saleem
Hi Saleem, Thanks for the blog. I was wondering if you would give me your take on a potential year end rally? I am still in RVBD as I keep looking for a chance to sell for less loss. I am in AAPL @$169. Otherwise I am in cash right now. Best wishes. Doug...
Hi Doug,
I am NOT sure about a year end rally @ all.
There will be technical bounce for day and a quarter...so that will give you chance to sell whatever you want to sell.
It is TIME to be extremely careful...keep lots of cash for 2nd week of jan...which MAY be a better time to position for more.
Good luck in the meantime.
Saleem
Good talking with you Saleem. I will be very cautious. I am looking for opportunities to make short day trades...I intend to be very nimble. LOL. in and out. I will be looking for a good chance to say bye bye to RVBD. Im going to be a little more patient with AAPL. Thanks again for your thoughts Saleem. I really enjoy receiving your point of view. It is always helpful to me.
Saleem
I want to say thanks for the blog. It has definitely saved me a bunch of money. I am in total cash now and won't touch anything untill I see some strength in the market.
Saleem, just for fun, I thought I'd let you know that I decided to let my AAPL shares go @$174. Could have done better, but I think that is the stock that I am going to attempt to day trade a few times and see how it works. I was going to just hold until IH said sell (their target is $198.95) It will be fun to attempt and hopefully profitable. I am comfortable with down to $165 and up to $198. We will see. LOL. I'll let you know how it went, just for kicks. I wish you the best and thanks for the guidance. Doug...
Hi Jack,
I am glad that you paid attention to what I DO....As I always say..ACTION speaks louder than words.
Lot of traders & investors were upset with my selling everything @ open on friday......& were RIDICULING me on CMED board.....
I have SEEN too many bear market and have learned my lesson well.
There is time to be aggressive in the market...and then there is time to lie low...until things clears up.
Good luck with your strategy.
Saleem
Hi Doug,
I am so happy for you that you are taking CUE very quickly.
I cannot be more frank than that.
But I leave others to make their own decision.
Saleem
New to your blog. I have enjoyed your comments including your trading/investing strategy.
Currently my portfolio is up 26.64% for 2007. Most of the gain is due to my AAPL investment (I have an average cost of $86.)
My current stock holding as a percent of total portfolio:
AAPL - 39%
BIDU - 12%
GENZ - 8%
JEC - 10%
GSF - 7%
and
Cash -24%
I work from my house and therefore am constantly monitoring the market, which is both good and bad.
Keep up the good work.
Hi Bruce,
Congratulation on your diversified portfolio.AAPL is a great stock.
Excellent return in this difficult market.
Thanks for visiting my BLOG....and appreciation.
Saleem
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