Markets are marking time for fed to speak their wisdom on economy ,funds & discount rate....
Markets are on much more firm footing than before......
Feds also have a good handle on "reality of credit mess".....
Based on all of the above rally should continue till christmas break.....of course interrupted by hedgies @ whim......that is the name of that tune ...by Barretta !!!
In my portfolio :
Added some RIMM to make an even lot..cost on RIMM went down to $113.62.....
Bought DSX @ $34.52.......it is a Greek company transporting dry bulk cargo worldwide....
Bought HOKU @ $12.99.....what the hell HOKU does....it is a Hawaiian company.....started with fuel cell ..now migrated to building a plant in US mainland for wafer manufacturing for Solar panel.....
LDK is taking a well deserved rest...it is down 47 cents on heavy profit-taking...already traded 4.67 million shares in 2 hours......
AGU down 83 cents ...trying to make a double bottom/finding support above yesterdays low...which is a good thing ......
AAPL is the "superstar in my show today" UP $1.75 to an all-time high $$$$
RIMM is down 75 cents....still working on making a solid bottom.......
DSX is down 23 cents...I am down 74 cents......
HOKU is UP 71 cents...I am UP only 26 cents.....
Canadian $ is down 44 ticks....so I will make money again on my short...yesterday CAD short gave me +.5%...so my gain yesterday was UP 5.5%......
@11.47 AM the following are green :
SOHU(reversing from weak tape),BIDU,POT(new high again),NVDA,
NMX,AMD,ISRG(near high),WFR (new high),SNE,MA (new high),
IFN(new high),ICE,EBAY,CSCO,JNPR,ENER(new contract).
I will post my take on Fed decision @ 3PM....
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hi Saleem, Just a thought: IH has a buy watch on DSX and I will post it for your perusal. I know that you do your own picks and DD but it never hurts to have some additional information. You know way better than I, what is best course of action. LOL. IH have not signaled a buy yet on DSX. On the other hand, IH is in DRYS and I will post that as well. The only reason that I am posting is for you to consider that DRYS is below IH entry point which is always good to get in below their cost. No big deal either way, just thought I'd give you what I have. Best of luck today. Doug...
Play Date: 12/08/2007
DSX (Diana Shipping--$34.65; +1.60; optionable): Shipping
http://biz.yahoo.com/p/d/dsx.html
EARNINGS: Announced 11-14-07
STATUS: Double bottom w/handle. Volume was rising Friday (though still below average) as DSX shipped higher, moving off of support at the 50 day EMA that held up the handle, heading toward the breakout from its 5 week base. Similar to DRYS, Diana enjoyed a big run in October when it broke out from its last base, and that gave us a very nice gain. It is setting up to ship out again and make us some more money. Looking for a continuing climb in volume as it makes the move through the buy point. Enjoys top flight earnings and sales growth rates.
Volume: 2.393M Avg Volume: 3.22M
BUY POINT: $35.48 Volume=4.2M Target=$42.75 Stop=$32.97
POSITION: DSX AG - Jan. $35c (52 delta) &/or Stock
DRYS 12/08 PreSplt 91.55 +1.73 93.48 111.95 3.2M 6M 88.78
Entered today. Gapped higher, gave back some of the gain, but also filled the gap intraday and recovered. Like that it filled the gap.
One more little note: AMX looks like it might be a buy today as well as keeping my eye on CF. I bought a little CMED today too Saleem. Really enjoying and learning from the blog. Thanks as always, for everything. Also looking forward to reading your take on the FED release. Doug...
SALEEM
Congradualtions on getting into the Dry shipping. I have held DSX since 11-5. WHat with the Devidend and RSi of 52.91, it is a rocket ready to fly. Or coiled spring ready to pop! DSX was mentioned by J Cramer last night as a BUY.
It is good to know that I am in good company with you getting some DSX also.
Is RIMM going to be OK or did all the down grades kill it's MOMO??
Thanks for taking the time to be so help and educational. This has been a blessing for me!!!
Madmax
Saleem,
Just a thought for a trade...what sector and more specifically stock(s) do you think will jump upon the impending interest rate cut.
Hi Doug,
Any research from IH is always welcomed by me...they are a great technical outfit.
This BLOG is becoming a good source of knowledge for everyone to share....so your input is very valuable.
I do not know if you have noticed or NOT.....I am a Taurus....so I buy the most expensive stock or 2nd tier which is priced for OPTIMUM $ impact......thus DSX/HOKU....
Saleem
Hi Madmax,
DSX is hovering around 50DMA.....which is always a better entry than way below it.....
RIMM is ready for some firework TODAY !!!!
Saleem
Hi Bruce,
In a declining interest rate environment "financials do well"
This includes insurance companies,Banks & brokerages....
Go for best run co in each sector.
Saleem
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