The following stocks are showing weakness based on various technical formations.Please do FA to get a balanced view.
TTEC,AW,ANAD,ARAY,HON,HMA,CAT,UTX,X,SNCR,TEX,SLAB,BRCD,
LTD,ELNK,IBM,CSCO,ORCL,LXK,MMC,GT,DYN.
TSX ( Toronto Stock Exchange)
RY,ELD,RCI.B,MBT,XFN,HF,SVC,AXU,TIM,XSP,XIN,PDL,AXU.
Please do your own due diligence in this "troubled markets"....
Preserving equity should be primary focus.....
One can alway's buy stocks when market conditions are better....
I will be reducing my exposure from the markets by 31.2% monday AM...unless a miracle happens and we rally all of a sudden.......so keep an eye on futures to get a hint.
I do NOT like this market any more.....I lost 10.7% last week ...after I got my final tabulation this morning......it was the worse weekly loss this year......extremely unhappy with this result.....
Please make your own decision & find your own comfort level......
I will NOT be giving list of technically strong stocks or momentum stocks...as I personally do NOT believe that there is any STRENGTH in any sector...they are all falling apart.......
I may liquidate all of my holding in this technically "horrible environment"......
I hope I am WRONG in reading this market...for everybody's sake........
Please do NOT take my read "literally...as I do not have any technical talent...
I do NOT fight the tape "no matter what".......
Tape is UGLY.........last THREE day's in a row......
BLOG does NOT give buy or SELL.
Saleem
2 comments:
Saleem.. Your humility is really notable and you write good and honest. I stop by your blog once a while and always enjoy reading your posts.
I guess the market looks broken to me as well. It has a way to go down to the next meaninigful support. The reasons to be bullish are waning nowadays as the global growth story could get affected by the mess that started with the crisis in financials? .. whats ur take? .. Besides the frequency of the sell-offs recently doesn't seem like a normal correction in bull runs, the VIX is gradually shooting up after forming a nice long term base.. may be this time its my turn to say "may be I am wrong".. cheers.. AJ
Hi Pankaj,
Thanks for your appreciation of my honest take on my trades & markets in general.
As far as market is concerned....if I do not see a "major reversal by monday close....I will be extremely defensive....some of the strategy I am looking @ is sell covered call against my position in high fliers like RIMM,VMW & AAPL...it will be dec calls.
Appreciated your interest in my BLOG.
Saleem
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