Markets are being controlled & manipulated from open to close.......
Markets were manipulated down 110 @ open.....
Market then turned UP 50 by 1130AM......
Market was taken down to 178 @ close......
All of the above GYRATIONS on NO additional news ????
Hedgies are still busy showing Fed ...that who CONTROLS wall street......
Small investors are being frightened away by this protracted downtrend on same OLD news ???
All I can suggest is ......to know your stocks and pick stocks well.......
Wall street is NOT going to give you "all clear anytime soon".....
I see the same thing going ON till first half of 08.....
Old news is being recycled over & over again......
Positive news is being defocussed big time.......
LIBOR is coming down in England.......
World Central banks are doing cooordinated injection of money daily...thus EASING liquidity issues.....
Most Banks/Brokerages/Mortgage companies are REVEALING their exposure daily worldwide and taking billion & billions in charges.......
But......nobody wants to talk about these things......
We are coming to the end of all this mess very quickly these days.....but NO acknowledgment or discussion in the media or CNBC......
All they do whole day is to BASH fed 24/7.......
Fed is on the right track.....and it will work in few days...as auctions are coming UP all over the world to buy SIV & other instruments which cannot be traded NOW.......
Lot of sectors are doing well..like Solar...where every stock has made a major RUNUP $$$
My portfolio remain unchanged and they are:
AAPL,RIMM,AGU,LDK,ESLR & HOKU.......
I was UP 4% for the week.....2.5% in stocks & 1.5% in my short CAD.....
My Canadian $ short alone has given me 119.4% gain in overall equity for 2007...which I initiated on Nov 7,2007...5.5 weeks back........
This proves that if you put your own ideas to work with CONVICTION...the rewards are incredible.....no one told me that CAD was a good short...All I heard from everyone that Canadian $ is among the strongest currency in the world......
I write all this to prove that your own homework gives you the biggest bang for the buck.....
Only 10 trading days left in this year........
There will be tremendous selling to book tax loss.....
Next friday is Quad Witching....which will put further pressure ......
See that next few weeks will be MORE challenging......
So...be ready with a game plan...your OWN.....
I will be posting list of technically WEAK/STRONG plus MOMENTUM stocks by 10 AM saturday...
BLOG does NOT give buy or sell.
Have a nice weekend.
Saleem
3 comments:
Good morning Saleem, I know that you have played FMCN in the past, so I thought I would share this IH alert for a buy watch on FMCN this coming week. Here is the information.
Play Date: 12/15/2007
FMCN (Focus Media Holding--$57.80; +1.30; optionable): Chinese advertising
http://biz.yahoo.com/p/f/fmcn.html
EARNINGS: Announced 11-20-07
STATUS: Test 50 day EMA. FMCN is working laterally along the 50 day EMA (55.10) the past week, setting up for a run at the trendline spanning the early October peak and the mid-November peak. Showing some strong upside volume spikes last week, and looking for another one to send it higher and give us the buy. Big gap higher in late September out of a 3 month cup with handle and during the November selling it was a target. It filled the gap, however, and started back up. Now that it has this test behind it and the upside volume kicking in, we are looking for a further break higher to move in.
Volume: 3.899M Avg Volume: 3.585M
BUY POINT: $58.65 Volume=5M Target=$69.95 Stop=$54.94
POSITION: QOH DK - Apr. $55c (64 delta) &/or Stock
One other note is that they are also watching GME this week, going into Christmas. It makes sense that GME would get some last minute attention from the markets, given the season. Here it is:
Play Date: 12/15/2007
GME (Gamestop--$58.21; +0.66; optionable): Electronic game stores
http://biz.yahoo.com/p/g/gme.html
EARNINGS: Announced 11-20-07
STATUS: Test breakout. GME gave us some great gains this year on a couple of prior runs. After it peaked in September we have patiently waited for it to consolidate and set up again. It dipped in the November selling, but formed a double bottom at the 90 day SMA and shot higher to start December. It has come back to test that move last week, holding at the 50 day SMA on Thursday and Friday. Good upside volume as it held and posted a gain Friday. Looking for continued solid trade as it resumes the move higher into the Christmas season.
Volume: 3.551M Avg Volume: 3.108M
BUY POINT: $59.32 Volume=4M Target=$70.95 Stop=$56.77
POSITION: GME DL - Apr. $60c (49 delta) &/or Stock
Saleem, I thought that I would share this notation with you as well as it concerns one of your investments. I think it is encouraging. I am speaking of ESLR. I was luckily in ESLR this week. I sold AH, after the announcement and made rediculous return. I only had 500 shares unfortunately. LOL. Anyway, here is the post from IH that I just got last night (Friday Night). Best wishes, Doug...
ESLR 11/15 Test 18 16.61 +1.50 14.17 16.95 22M 5.4M 15.95
Target Hit. Took some 21% stock and 62% option gain Friday on the huge gap higher and left some positions to work for us. Expecting ESLR to climb a bit more from here on this explosive volume at the end of the week, especially with the market looking to bounce next week.
Hi Doug,
Thanks for your post about ESLR.
Great trade on ESLR.....that is the only way to get ahead Quick & Profitable trades.
500 shares are enough for small stocks & 200 enough for $100 plus stocks.
I am glad you are counting some change lately.
Saleem
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