Today was a very good day all accross many sectors......which is very healthy for rally to sustain........
Techs & financials were all going higher .....which is absolutely necessary to turn into a bull run....
GS Abby Joseph Cohen is predicting close to 14% jump in S&P 500 by end of 2008 !!!!
Most "nervous pundits are CALM about this market now" ...which will give stability to retail investors.....who jump out of the market in panic..on every downtick ????
Conviction is the missing ingredient for those who do NOT do or understand fundamental analysis on the stocks they buy........
In my portfolio :
RIMM was down 54 cents on huge volume 4 days in a row........this stock is "deeply oversold"
UBS & TD had nice things to say...but someone was "controlling RIMM today who was covering their short @ low price".....Wall Street is so CLEAN...I can choke on that thought ????
LDK closed UP $1.06 on heavy volume....it has been UP 4 days in a row now...a HUGE move UP $$$...www.stockcharts.com is predicting $88 as initial target.......
AGU was UP $1.23 only $1+ away from all-time high...thursday could be the day $$$$
AAPL "was the superstar in my show today UP $5.69...only $7.18 from its all-time high...thursday could be the-day $$$$$$
GME was added to S&P500.......
FSLR started to run again.....
EWY & IFN etf were strong....
GOOG & BIDU moved UP...
Chips were strong NVDA,BRCM,INTC ,SNDK,AMAT moved UP...
ICE & POT were strong......
MA & LVS moved UP.....
There should be a follow UP day on thursday.
BLOG does not give buy or sell.
You are expected to do your own due diligence which includes FA & TA ...always.
Saleem
7 comments:
Hi Saleem, I sold some RIMM and lowered my cost basis. I added BHP on an IH buy alert. I also added SOHU because I bought before I read your reply. I only dipped my toes in so I can either add if I need too. I wouldnt have bought had I read your post but sometimes I get a little ahead of myself when I have cash. I need to work better on entry strategies and not be afraid to keep a little cash on hand instead of all in all the time. LOL. I am watching AG very closely and waiting for an IH buy alert. Here is the BHP information from IH for your perusal:
Play Date: 12/03/2007
BHP (BHP Billiton--$75.20; -0.63; optionable): Industrial metals
http://biz.yahoo.com/p/b/bhp.html
EARNINGS: 2-6-07
STATUS: Cup. Found support at the 90 day SMA at 71.50 during the November selling, using that market weakness to test, rest, and fill some gaps from mid-September when BHP was blasting out of a 10 week head and shoulders base. It has come back to fill the gaps and is forming a new 4 week base. It bounced off the 90 day last week and has paused to test the 50 day EMA (75.49) this week, showing a doji on low volume Monday. Looking for it to explode higher after this test and make a nice trade for us up to the prior high near 87.
Volume: 3.311M Avg Volume: 5.004M
BUY POINT: $76.45 Volume=6.5M Target=$86.95 Stop=$74.11
POSITION: BHP BO - Feb. $75c (54 delta) &/or Stock
Saleem, this is the buy alert that came today:
IH Alert - BHP $76.36 Volume:2M Pct Avg Vol:47% ( Play: Pivot=76.44 (orig 75.45) Cup Tgt vol=6.5M Tgt $=87.95 Stop=73.11 BHP BO Feb. $75c (54 delta) &/or Stock.
Best wishes to you. Thanks for this forum to interact with you. I am glad to see your portfolio kicking butt!!! Doug...
SALEEM
Was looking at the chart for LDK looks like the top Bollinger band should stop LDK from climbing??? Its RSI is 64 does it keep going based upon RSI or can hte BB hold it back??
As for AGU that Puppy has been on fire got on board at $63.
i WAS SO DISAPOINTED IN RIMM looked so great in the AM then fizzeled
Madmax
Hi Doug,
I am glad that you are revisiting your ongoing trading strategy.
Markets are always either too tempting or too scary.....so one needs to step back...and focus on your pre-planned strategy.
What has worked in the past...may NOT work in future....
so you need to understand "overbought or oversold conditions for any decision making"....for that RSI is the easiest indicator to follow.
IH is a great GUIDE for you...so it is important for you to follow their game plan.
Good luck with BHP.
Saleem
Hi Madmax,
RSI is the easiest indicator to follow to spot overbought or oversold conditions.....I do NOT look @ BB @ all.
LDK should hit high 70 on RSI easily....
RIMM is ready to ROLL now..was very strong AH alongwith LDK.
If you like..just follow my strategy on LDK....
Good luck on thursday.
Saleem
Hi Saleem,
Been following your blog for several months now and your insights for the overall market plus individual stocks are invaluable. Keep up the good work.
I've been trading for a couple of years now and have lost some serious money. It has humbled me somewhat and have learned alot in the process. I'm hoping one day I can recoup it. In the meantime, I need to learn how to value a stock so that I can invest with conviction. If I can pick your brain from time to time, that would be great.
For starter, what is IH? What does it stand for?
Thanks.
John
Hi John,
IH is an investment house where one of our regular BLOG visitor Doug gets pick for a fee.
IH charges monthly fee.....
I am NOT a member of ANY paid service wether it is IBD,Dan Zanger etc.
Most people find them USEFUL...as they are LOST in the MAZE of Wall Street game.
We all have lost money...so do NOT feel bad.
Try to focus on few stocks and follow every event of that company..then you will develop conviction.
To make serious money or NOT lose...you must know the Fundamental of that company and every company which is successful in that sector.....
Go with the WINNERS only.
Please keep visiting my BLOG...where I touch on fundamentals & technicals in easy to understand terminology.
Saleem
Thanks Saleem for the advice. Will keep it in mind and will definitely visit your blog.
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