Markets are in a holding pattern...trying to catch breadth.....digest gains....and handicapping Fed !!!
So...it ended flat.....not a bad way to go into weekend !!!!
This gives everybody a chance to "regroup" & "rethink" their game plan !!!!
I hope that everyone is AWARE.....what is WORKING these days !!!!
Please look @ your portfolio and see what worked and what is NOT working !!!!
If you have stocks which is working...then add to your position in a diversified mode!!!!
If some of your stocks are NOT working....then Sell those and replace it with other strong stocks.......DO NOT average down...in hopeless situations !!!!!
I am expecting/hoping for a strong rally going into Christmas.....Do NOT lose this opportunity with HASTY decisions.....
Have 4 to 5 stocks ......
All of them needs to be winners in their own field.....
Must be in different sectors.....meaning...it could be all techs ....but not all ....semiconductors or chip equipment makers or computer vendors..one of each is OK as an example !!!!
Have you noticed that I always have minimum 4 stocks plus a HUGE short position in Canadian $...so there is my 5 strategy !!!!!
In my portfolio..... today I gained 2.4% after taking a hit again on my short CAD..two days hit in my short .8%.......
For the week my portfolio was UP 10.7% ..factoring everything $$$$
My portfolio remain unchanged and they are:
AAPL,RIMM,AGU & LDK........
I will be posting list of technically weak/strong & momentum stocks by 10 AM saturday !!!!
Good luck on being READY for next week $$$$$
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hi Saleem, I took your advice and I now have full exposure to the markets. I am in SOHU @ $58.10, NYX @ $ 87.85, PFWD @ $24.02, OTEX @ $33.21 and SGR @ 67.75. I intend to ride these until IH says sell or year end, whichever comes first. I know I could have done better on SOHU cost basis but I think in the long run, it will do. You know what the best thing about Friday night is? You're that much closer to Monday morning. LOL. Best wishes and I hope you have a great weekend. Doug...
Saleem,
Today ended up 2.12%. For the week up 5.66%.
Current porfolio:
AAPL - 40%
BIDU - 14%
GENZ - 6%
JEC - 11%
LDK - 12%
RIMM - 7%
VMW - 8%
Cash - 2%
Biggest winners of the week: AAPL, JEC, LDK.
Non-movers/ok stocks: GENZ, BIDU.
Losers/disappointments: RIMM and VMW
What are your thoughts of RIMM and VMW for next week?
Have a great weekend and looking forward to another exciting week in the market!
saleem,
First of all, I want to say thank you for thought provoking post about year objectives. I am 27 years old and i started trading 8 months back. honestly, I did not ask myself any of those questions you mentioned. i bought market winners like GRMN, FCX (never did TA/FA) and sold immediately. I purchased BX/CTSH like loosers. I made many mistakes. Thanks for sharing information always. do you suggest any information source for forex trading (what kind of knowledge I am supposed to have). can you please post your trades (i know you do everyday) so that I can analyze and learn from your success. I really appreciate your advice.
Thanks
Hi Doug,
I am glad that you are graduating from trading out very quickly.
Peter Lynch said to "let the winner run"
I believe your result will be much better if you follow IH 100%.
I like 4 out of 5 stock...PFWD I am not sure ????
Good luck on monday.
Enjoy your weekend with family!!!
Saleem
Hi Bruce,
UP 5.66% for the week is nothing to sneeze @...it is way better than any index $$$
Only reason my result is better because I have concentrated position in 4 stocks plus my CAD short.
RIMM should fly next week...as it has found a strong support & built a base already.
VMW is a tough one to call...its Sales growth rate is 55% YOY...its PE is 77 vs RIMM 31.69.....
I almost feel like suggesting switching funds into RIMM...which has much better growth profile going forward imho...
See how your analysis go???
Enjoy your weekend.
Saleem
Hi Ram,
It is never too late to rework your strategy.
Stay out of FOREX....it is very dicey you can & will lose more than what you can afford.....shorting CAD is the only trade I have done.
I will strongly suggest doing FA on IBD 100 as a starter.....always know why some companies are successful and most others are stuck in a rut.
My trades are transparent ..so read all my post ...from day one which is 7 months ago...it is all there in my BLOG.
Good luck !!!
Saleem
Hi Doug,
I need to expand why I am IFFY about PFWD.....
Two Reason :
High PE...
Average Low volume...
I am just NOT comfortable with the above two scenario....
If it is a recommendation of IH...then they are basing strictly on chart..which is very strong..it is almost @ new high and well above 50 & 200 DMA...
I will NEVER second guess IH...they DO know what they are doing...imho
Saleem
Saleem, Thank you for your thorough consideration, with two comments for me. I read that you recommend to be in high volume stocks and I agree whole heartedly. I have had more losses in low volume, inexpensive stocks than any other. Yes, I entered because of IH and I intend to peel that one off the fastest. The chart did look like its ready to pop and I just intend to grab a buck or so and then I will be out. Yes Saleem, I considered your posting that I told you I would print out and study and determined that I do tend to jump around like a rabbit in and out of too many stocks. I also read something that hit home and that was that if you do not trust the market, you will never have success. I have been skiddish because of losses in the past and I have not allowed my winners to run. I am really trying to trust my instincts, trust IH, trust that the market will continue to be here tomorrow and I am concentrating on more discipline to let winners run. As you have said, if you know the stock you are in, then you should have more conviction and that can make $$$. I have been entering a position and as soon as I get one or two bucks, I sell, being afraid that I will lose what I have gained. In 2008l, I am going to try to do less trades and make more money. That post you made for us about reviewing 2007 and preparing for 08 really made me see some of my greatest weaknesses and barriers to success. I feel that I am going to be much more prepared in 08. You have helped me with that alot Saleem and I thank you. Have a great weekend. Doug... p.s. I will be sticking with IH but I wont jump around so much. LOL...
Hi Doug,
It is very REFRESHING to see that you are going through in-depth re-apparaisal of your trading strategy.
I fully understand that it is almost difficult to CHANGE.....but once you change...the results are there for you.
Most investors & traders are ALWAYS looking for BEATEN down BARGAIN stocks.....that is a "failure 101 strategy"
The other FALLACY is everyone is looking for INSTANT home run....NO..it is always the SINGLES which takes you to better returns.....
Investing or trading is NOT gambling....it is never ALL or NOTHING.....it is a very planned homework driven approach with CONVICTION...FA & TA will give strength to let the profit RUN...RUN...& RUN.....
Peter Lynch will be very proud of those who practice "let the winners RUN $$$$"
I am sure you will be much better trader with an investment twist...starting NOW and taking it into 2008......
It is FA & TA every 30 minutes for me.....I do work DAMN HARD for my $$$....with lot of conviction & discipline.....
Being a TAURUS also helps !!!
Saleem
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