Market closed S&P500 @ 1496.45 .....well above much-dreaded resistance of 1490......
There MAY be initial selloff on wed in the name of POOR retail sales...citing price discounting...
This is another excuse to lock-in profit & sell losers.......
I will be looking to BUY on that DIP...IF it happens......
Wed MAY RETEST support on S&P and I am betting on it holding ABOVE 1490.....
No matter what..... I WILL buy on wed......
In my portfolio :
AAPL was "the superstar in my show" UP $4.89 & highest close on a breakout.....next target $212......
SOLF gave me the fastest $ FUN trade...$7.28 per share in 4 trading days !!!!
RIMM was taking a "well deserved nap...hopefully....will wake UP on wed" down 65 cents.....
BIDU was UP 13 Cents......
MA gave me 67 cents.....
My portfolio is :
AAPL,BIDU,MA & RIMM.....
Solar stocks are flying...most of them hitting new 52 wk high $$$$$
I MAY be adding Solar on wed...strength is INCREDIBLE.....
My portfolio was UP 2.2% but...... some of that will be taken away by Canadian $ short which went against me today.....will know the exact amount in AM......
Wishing everyone a Merry Christmas.......
Enjoy the Dinner & Gift from NEAR & DEAR ones......
BLOG does NOT give buy or sell.
I will be happy to answer any strategy question or stock opinion between now & market open on wed.....
It is all part of your due diligence......
I thank 39,400 visitors to my BLOG .....I am very grateful that my analysis is factored in your decision making.
Saleem
4 comments:
HI Saleem,
I want to get in some long term position, but don't know the trend for solar and agriculture chemicals will continue for next year. Most of the stocks in those sections have already jumped from 1 times to 10 times.
Any vision on long term investment on those two sectors?
BTW what do you thinks US dollar's trend for next two years?
Thanks
Hi You,
The trend for both Ag & Solar is UP......
But....you must compare each stock in Ag & Solar to know which one has more room to go UP......PE is a good way to figure out....
US$ trend is stable to UP....thus my short CAD.....
Lomg term both Ag & Solar is a good play.....
Wed...we may see some weakness in markets due to tax loss selling....which MAY give you a good entry point in your favoured stocks.....1030 AM may be a good time to BUY !!!!
Saleem
Hi Saleem,
I saw where you closed out your position in SOLF. Will you be adding to SOLF on any dips or have you noticed another solar stock you like better? Thanks so much for your info Merry Xmas and Happy New Year charlie
Hi Charlie,
Thanks for your greetings for new year.
Among the solar stock LDK is undervalued....
All other solar stocks are overvalued.....
So ...if there is a correction in solar stocks...it will put LDK under pressure also....
I will stay out of solar for now...and play other sectors which is NOT so HOT.
Good luck...but always take profit..no matter how strong you feel.....
Technically most solar are RIPE for pullback...after that I will revisit them.....
Keep an eye on RSI.....
Saleem
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