Markets took it on the chin.........
Nasdaq got the worse beating of all indices.......
Reason......it must be Option Expiry week......
Markets are always unpredictable......
One must be comfortable with exposure & strategy........
Tuesday could give us some relief...as markets are deeply oversold...so a "technical bounce is imminent"
In my portfolio :
I did lot of trades to take advantage of the freefall.......always use freefall conditions to re-evaluate & reposition....what else is NEW......
Sold all AGU to lock profit of $4.56 per share......and put all proceeds in BIDU.......
Sold all ESLR ...took a loss of $1.58 per share....and put all proceeds in BIDU.......
Sold all HOKU...took aloss of $1.25 per share...and put all proceeds in BIDU......
You must be wondering ......why all the lovefest with BIDU.....it has come down $61.16 from its high......and I could NOT control my enthusiasm for BIDU @ this price..my cost $368.03....
Inspite of the fact that I bought BIDU 3 times today...still I missed the LOW of the day....but you cannot blame me for trying ...trying.....& trying.......I am a Taurus and sometimes...I do show the "bull in me".......
So ...My portfolio is :
AAPL,BIDU,LDK & RIMM........
My portfolio was UP 1.9% thanks to LDK but I lost 1% in my CAD short...so overall gain is .9%...not bad for a brutal day.......
BIDU closed well above 50DMA of $352.89 after dipping below to $348.91......closed @ $356.00!!!
Jimmy the Cramer gave his stamp of approval to BIDU in his lightening round today......for some it is an important endorsement...for me it means nothing...BIDU will follow its own trend !!!
LDK behaved extraordinarily well in this horriffic market by closing UP $11.34 @ $68.18..low of the day was $65.00 during mid day......while market closed @ low of the day but LDK did NOT $$$.....
Oh......you must be wondering why I sold AGU today....beside the above mentioned reason.....they are pricing secondary tommorrow...stocks generally trends DOWN on pricing day......but if it is turnaround tuesday as I am expecting...AGU should go with the market.......
Tuesday SHOULD bring some sun & cheer to wall street...I hope !!!!
BLOG does NOT give buy or sell.
Saleem
4 comments:
Ugly isn't it. Well my prediction of a higher high at the end of the year washed out, thanks to Mr. B.
I do hope this does not happen every time he lowers the rate 1/4 point. How much more good news can we take?
Hi Standard,
In the ned wall street discounts everything....even unknown things...
OE gives hedgies more reason to mess with the markets......
BB cannot take credit for options/ mini S&P manipulations by hedgies & MM ......
Tuesday is another day !!!!
Saleem
Hi Saleem,
Just before market is closed, I bought some Hoku, Agu and Eslr knowing that you have these stocks. If they go down tomorrow you are responsible;) just kidding.
I think it will be a big bounce tomorrow. Good luck everyone.
Hi Rimm,
Generally when I sell any stock...they go UP.....
BIDU forced me to do it.....
Listen I was very impressed with Ankara Bus terminal.....hope they have maintained it same way when you saw it last.
Good luck on ESLR,HOKU & AGU $$$
Saleem
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