Market internals were much weaker than headline declines.......
It was almost 2 to 1 lead by declines & losing volume were also leading by 2 to 1.....
AH Fannie Mae not only cut its dividend but also raising $7 billion through special stock.......
The only "contrary indicator is that there is too much negative news & bearishness...which may give us a CONTRA TREND rally for few days ?????
Fed needs to be very aggressive next tuesday like cutting 50 basis on fed funds & 100 basis on discount window......then we will have "sustainable rally".......
Trading or investing "needs to be done with discipline NOT with emotion.....you MUST monitor your strategy ....and find "compelling rationale for every move".....
I have been "removing money from market...after each gain ".....I will remove more funds from market wed AM.....
As of wed.... I will be trading with house money only ....which was a longtime dream.....I thank my stars ,discipline & due diligence for this unbelievable reality !!!
My portfolio remain unchanged as of this AM....which is RIMM,AAPL,LDK & AGU....
All the trading or investment return has no meaning unless you are using that gain wisely...for a worthwhile purpose......for some it is for "supporting a lifestyle" and for others it is for "enhancing a lifestyle".......
My portfolio was UP 3.8%.... plus I am expecting a minimum gain of another 1.2% from CAD short...which I will know the exact amount in AM.....
RIMM is going through its regular drubbing from its growing pain for 3 days in a row.....RIMM is @ major support area...so expecting a technical bounce.....down another $3.25.....RIMM has given almost 19% from its intraday high since last thursday...all IBD followers must have jumped ship already......so selling must have dried up ?????
LDK had a stunning upmove of $8.67 on a "huge volume of 11.3 million shares......"
AGU is contnuing its runup towards new high only $2.82 away......
AAPL was UP 95 cents.......
AH SOHU raised guidance.......due to its successful online game......
Good luck for wed.
BLOG does NOT give buy or sell.
Please "ensure your comfort level in this tough market environment"
Saleem
3 comments:
Hi Saleem,
I am a regular visitor of this blog. Thanks for sharing information with other people. I am new to stock market. started 6 months back. I lost some money(not big). I sold big winners too early (GRMN, FCX) and hold loosers. What is the best information source to gain some knowledge. I am reading mr.o'neill books. could you please provide information if you have time. Any information helps me in great way. Thanks once again
RAM
Hi Saleem,
I am a regular visitor of this blog. Thanks for sharing information with other people. I am new to stock market. started 6 months back. I lost some money(not big). I sold big winners too early (GRMN, FCX) and hold loosers. What is the best information source to gain some knowledge. I am reading mr.o'neill books. could you please provide information if you have time. Any information helps me in great way. Thanks once again
RAM
Hi Ram,
IBD is NOT good for understanding fundamentals of any stock.
IBD is more like daily score card of which stock did well.....by the time a stock shows up in IBD..it has already made a major move UP.
So...you need to learn how to analyze the fundamentals of companies and then decide which one is good and KNOW which one is bad.
I suggest you read Peter lynch books...which is available from amazon.com for $10.20 each and they are :
One UP on Wall Street....
Beating the street...
Good luck !
Saleem
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