Markets went nowhere today.....
Dow & S&P 500 were token green and Nasdaq liked red......
Monday will be another lackluster day.......
Next whole week it will be "thin trading"....
We MAY get some UP move on thursday & friday.....I hope.....
In my portfolio :
BIDU,RIMM & MA were red.....
AAPL & LDK were green....
Down .3% for the day.......
For the week I was UP 1.6% overall .......after factoring a loss of 1.2% in Canadian $ short...hoping to make more money in my CAD short starting monday...I hope......as I expect US$ to start moving UP !!!
Be ready for an extremely low volume monday.......washing car may be more exciting that day...or if you prefer to wax your car ....it should get you in the mood for new years eve......
2008 should be a very good year for stocks.....as we have suffered big time in 2007 ...thanks to sub-prime/housing fiasco.......
I will be posting technically weak/strong & momentum stocks by 10 AM Saturday......
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hello. First post on your Blog. I have been reading it for quite a while and I must admit I am hooked. I have been "away" from trading for quite a while but I decided to give it another try. I hope you don’t mind if I ask you a few questions? First, I am wondering what are your main sources or tools to do you due diligence, research and technical analysis? I am starting my portfolio with 20k... looking to buy 5 stocks. I currently use IBD to get some ideas (aside from your Blog!) Oh, don't mind my poor written English... As my name indicates... I Am French Canadian...
Hi Frogvest,
Welcome to my BLOG.
I use yahoo finance to setup my actual portfolio and name it current.
Then I setup another portfolio naming it future trading stocks...where I include about 50 stocks.....
This setup gets me all the news very quickly...
I get all the fundamental analysis from Yahoo or MSN moneycentral about company profile EPS ,Sales,TOS,ownership etc....
Then I use these for Technical analysis DAILY :
www.stockcharts.com
www.stockconsultant.com
Hope it helps....
I lived in Montreal for 6 months when I came to Canada back in 1973.
Good luck,
Saleem
Wow...thaks for the quick answer. I will try to keep you posted on my investments! Happy New Year!
Hi saleem. Thanks for the blog in 2007. I look forward to it in 2008. I am more pessimistic for stocks in 2008 than you are. I hope you are right. Currently I am 1/2 in foreign etf's/energy (EWZ, EWY, EWA, FXI, FXI, IFN, TRF, EWM, EWS, SU, TELOZ, DVN, CEO, CCJ) and the other 1/2 in BIDU, AAPL, BABY, and RTP and cash. I have a short leash on my stock picks (etf's/oil are for long-term). Happy New year.
Hi Minaccess,
Nice to see your note.
TA has helped me a lot and has given me many trading opportunities.
I will NOT worry too much where the major indices go in 2008...but focus MORE on stock selections & trading.
Markets go UP & markets go DOWN.....but stocks do their own thing.
I like you overall approach in your portfolio mix..which is of defensive nature.
On the stock side...I would like to suggest adding LDK,MA & RIMM....then you will have an aggressive portfolio on stock side.
You should look @ LDK experience in a detached manner.....emotions does not help in making serious money on wall street.
My cost on LDK is $52.16...& I expect to make serious money AGAIN.
Stock trading or selection is very unemotional to me...buy when you MUST & SELL when you SHOULD !!!
Happy new year !!!
Saleem
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