Markets are again in the spell of credit fiasco...as brokers estimates are cut accross the board.
Nasdaq leaders are showing sign of life...which is good for an impending turn UP in Nasdaq.....
Canadian Central bank cut its rate as I expected.....CAD is down over full cent...which will give 1% gain to my equity / entire portfolio value......This short has given almost 120% gain in my total equity... all since Nov 7th, 2007....a huge boost to my 2007 return...so far $$$$
In my portfolio :
LDK is "the-superstar in my show again UP $5.50 on huge 4.2 million volume......."
AGU is heading towards 52 week high UP $1.65 only $2.11 cents from its all-time high......
AAPL UP $1.37......
RIMM recovering from two days of analyst attack UP $ 2.45.....
@11.10 the following stocks are "green"..
SOLF(huge % move 3 days in a row),CSIQ,GOOG,BIDU,EWY,TSL,SIRF,POT,CTRP (kissing all-time high),WYNN,HOKU,SOHU(behaving very strong..less than $4 from its HIGH),NCTY,ICE,GRMN,MPEL,ASTI.
Lot of investors & traders do NOT optimize their investment by staying in "unproductive stocks..way too long......NEVER lose sight of the fact that the idea is to put money to work in a profitable position...irrespective of the fact....wether you are short term or long term oriented.
Nothing justifies holding on to WEAK stocks....never go for "overnight home runs.....it is the singles which will give you the return day after day"
Good luck on rest of the day.
BLOG does NOT give buy or sell.
Always review your investment or trading for OPTIMUM returns.
Saleem
14 comments:
Saleem, Im looking to add to my RIMM position. do you think that the $101-102 range is a good add? Thanks much for your take. Doug...
Hi Doug,
$100 is a major support....it bounced from there last time also.
Saleem
SALEEm
Just added RIMM at $105, only to see it fall to $102. $102 seems to be a deflection point. Hurray!
Price Support Pivot
Point Resistance
104.75 101.45 106.35 111.25
The above is from Barchart
My CHL came back and AAPL is a leader again. My tanker stocks are all down, Oil and DRY are up huge, but no movemnet on hte stocks prices.
Madmax
Saleem,
Today, I sold my ETFC stinker and purchased LDK at $35. Without your BLOG, I would not have investigated LDK. All I can say is thanks and WAHOOOOOOO!
Hi Madmax,
RIMM got another target change today from Cannacord Adams..earning estimates were also reduced for feb 09 & feb 10.....
New target for RIMM is $145 from $160.....which gives you 40%+ appreciation "potential"
This is why i always have minimum "four stocks to balance eac other out...and hopefully stay ahead on a weekly basis"
Good luck.
Saleem
Hi Bruce,
Great move.....
LDK is just warming UP $$$$
You are most welcome !!!
Saleem
Thanks My Friend. I added RIMM @$102.00. First buy was at $104 so now I have a nice position $103. Thanks for everything. I hope you are not getting overwhelmed with requests. Doug...
Doug,
It is always a pleasure to give my 2 cents worth.
RIMM is trying to form a strong base right now ......
RIMM as expected tried technical bounce this AM....but......
So we start wed all over again...
Do NOT be sur[prised if we close GREEN !!!!
RIMM is washed out to the HILT $$$$
Saleem
Hi Saleem, Im sure you heard the comments on Fast Money regarding RIMM. I would like to hear what you think about Najarians view? I have a large position (for me) now in RIMM. I strayed away today from diversification haphazardly. I sold all stocks today except for RIMM and I added. So now I am RIMM and a little cash. Ive always wanted to be in cash and be able to buy a leader like RIMM, GOOG, AAPL... when it had sold off hard and be able to be on the right side of the tape...Najarian kind of freaked me out. My conviction could use a boost. But obviously if you have any warning or contrary thoughts, I definitely want to hear. LOL. Thanks Saleem. Doug...
Hi Doug,
RIMM will work out for you in the end.
RIMM is near strong support which is around $100.....it may trade below $100...but I believe it should move UP ...as it is oversold.
I will restate that you should NEVER overexpose into any stock..be it RIMM or something else.
Idea is to trade NOT GAMBLE....
As of todays close RIMM is only 29.68% of my portfolio in terms of $ allocation....I have same four stocks as this AM.
I think you should REDUCE your exposure in RIMM ASAP....this is NOT right as a strategy....
FWIW
Saleem
You are absolutely right Saleem. I was looking for a quick win and even if it would work, it is by principle, stupid to be exposed this way. Thanks for your scolding. LOL. I deserved it but it has helped me to reconsider the "gamble" and I will diversify again. The stocks that I sold I did make money except for OTEX. So all in all, everything is great. Ive made money today selling out my positions. Im in RIMM at a price that I can immediately sell some shares and refocus on diversification and slowly dip my toes in. Thanks again for helping me get on track. Doug...
LDK uo 27% on 11+ Million shares. Probably short covering, energy legislation playing a role. There is resiatnce at the 50 dma now. Tomorrow should be a down day unless the audit comes out or some other event pushes it over the 50 dma. What a sweet day on a distribution day for the markets.
LDK: wow!!! $$$ X-mas came 20days earlier this year. Thanks Saleem. I had this stock on my radar thanks to you.
Saleem: how do you see the parallels LDK and PAY, could PAY
be another "LDK"?
best wishes,
Don U
Hi Urs,
No PAY is bad news.....they are restating several years of ER..more like NT.....
I am glad that you bought LDK.
Yes there is a Santa Claus...we just have to be NICE !!!
Saleem
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