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 $900 target),WYN,NMX,IIJI,
QID,NTRI.
Good luck on an improved close.
BLOG does not give buy or sell.
Saleem
2 comments:
Saleem, I started following your blog after seeing your posts concerning CMED on the yahoo message board. It has been very helpful. Nice short on the CAD by the way. You seem to stay positive even when the market goes to hell. I was just wondering what you use for your research, are there any particular web sites or newspapers you look at? (aside from IBD)
Rob
robheck@gmail.com
Hi Rob,
Thanks for visiting my BLOG.
I read alot about FA & TA ...all on internet...I do not subscribe to any newsletter or IBD....
I use Yahoo for FA plus all news related to my stocks & other on my watch list...
For charts I go daily AH to :
www.stockcharts.com
www.stockconsultant.com
I remain upbeat because of my conviction in the stocks I own...I trade out even @ loss if I do not like the tape.....
I firmly believe in tape action of each stock I own or on my buy list & act accordingly.
I watch economy of the world very closely and CAD was a logical short & remain so until below par with US$.
Good luck on your trades.
Saleem
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