Stocks as predicted opened down & staying down......
Reasons for weakness were weak retail sales......NO news there....considering the challenges in economy & housing/credit crunch......
There is a very good chance that we will close GREEN.......That is the OPTIMISTIC me talking !!!
In my portfolio :
I added 32% MA...my cost went down to $210.72.....
I bought LDK as it REMAINS the most "undervalued solar stock for 2008" my cost $52.23.....
BIDU is "the-superstar in my show today" UP $10.19.......
MA is down $2.87......
AAPL is UP 38 cents.....
RIMM is down $1.62....
LDK is UP $2.84 ...but I am down 71 cents....
@11.36 AM the following are green :
AGU (new high),CCJ,SOLF (new high),CSIQ(new high),CSUN,
TSL,SIRF,POT(new high),TSO,ABX,FSLR(new high),SPWR,
AMZN,SNE,IFN,GOOG,NMR,HOKU,ESLR(new high),GRMN,
MR,ASTI.
I am trying to create a portfolio which will NOT require too many trades in 2008.....that may be a "wishful thinking"...but...@ least I am planning......
The only guide to my trading activity will be RSI reading......hate to ignore that very "reliable trading alert"
Good luck on rest of the day.
BLOG does NOT give buy or sell.
Please retink your strategy based on "what you missed big time...plus AVOID all the mistake you have REPEATEDLY made"
Do intense DAILY FA/TA....and then develop CONVICTION......
Conviction WITHOUT FA/TA has NO meaning......
So....position well for a much better 2008 $$$$$
Saleem
7 comments:
Hi Saleem,
I have a question. Don't you think today people won't be selling any winners in their portfolio in order to avoid capital gain?
They may sell only losers to take capital loss.
Tomorrow they might sell winners to book profit and will avoid capital gain for one year.
Do you think this thinking is right ?
If this is right then we can see solar stocks down tomorrow.
Hi Baljinder,
Yes ...your thesis is correct.
In US traders are allowed to book only $3000 loss only...any further loss...they MUST offset against winners.
So...if you have $10,000 loss then you want to offset that by selling $7000 gain today......
Since markets are near low and have been in trouble since aug...there is more loss which needs to be factored in decision making today...
Markets are unpredictable...so anything can happen on th.....
Solar generally are deeply overbought today...so a selloff is inevitable.....they can stay overbought if MM wants it to be...then the selloff will be more painful....
That is the reason I bought LDK today...which is actually oversold.
Saleem
SALEEM
that reaon for Getting into LDK again is excellent.
I though you got out LDK because take profits when you can. Now you are back in it because it sold off so badly! That is excellent reason for getting back on board and I do like the fact that management has attempted to clean up communications as well as the mess over cooking the books--or something liek that. Again
let me express my personal thanks to you for your blog and patience in helping me and all the others with timely stock advice.
Madmax
Saleem,
Nice day for LDK. As you know, I held through the recent bloodbath...Hope the upward movement continues!!
Today up 1.65%
This week up 4.51%
This year up 37.82%
Portfolio:
AAPL - 41.50% -
FSLR - 6.35% - nice day
LDK - 21.29% - nice day
JEC - 11.05%
and my dear friend Mr. Cash - 19.82%
I am currently looking for another "AAPL." Probably won't use the cash until after the 1st, as I want to see how the market shakes out the last few days of this year.
Regards,
Bruce
Hi Madmax,
I am looking to have stocks in my portfolio which will be a good performer for 2008...full year !!!
LDK is "the undrperformer in solar sector"....
LDK issues has been rehashed 40 ways by everybody...margins/inventory/financing for new plant......so NO surprise left !!!!
Saleem
Hi Bruce,
You are well on your way to strong finish.
LDK has a chance of becoming another SPWR......
I am sure you will find a very good company to be a 5th member of your "stock squad"
Saleem
Hi Saleem,
I am new to trading in stocks.The market is too volatile that I am not able to able to understand which stock to buy. Ay present i have FXI. Please suggest what should i do.
Thanks
Preet
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