Goldman bearish & shorting stance is out of the bag ......
Now...GS is calling for recession.....
Why ?
To support their "bearish bet on the markets".....
It is the same old game.....
Short the hell of the market.....then get another helping hand from their "own economist"
Same as investment banking getting support from analyst report........
So...why stock market is not tanking ????
It is because "short thesis has ALMOST run its course"..no amount of negative badgering will help now...as it is "all being discounted by the markets"......
So..what will give US the green light that market is ready to turn UP ???
If we close stronger than days trading.....
Today they are taking the last strong sector DOWN.....Solar & Ag.....
Sign of a bottom ???
Only time /close will tell ????
Everything is down big today.......
Ensure your comfort level with uncertain markets.......
BLOG does NOT give buy or sell.
Saleem
33 comments:
Hi Saleem,
Your post says it all.
Standards
I 2nd your post Standard! GS = crooks. SEC = owned by GS. The two together = Pain. Patience is the only answer, I guess.
Hi Standards,
Patience will pay off big time.
Retail are the big seller...unfortunately @ the low.
Headlines panicking weak & frightened.
Saleem
Hi Doug,
Don worry GS is failing big time today....
NOW...they have to cover $$$
Saleem
I may be wrong, but I dont think there will be a better chance to pick up ESLR than now. I have been trading it for a while now and this looks inviting. IMO, Doug... P.S. I do hope your right about GS strategy and failure. LOL. Normally I like win win but not with GS. LOL.
Hi Doug,
When you know trading pattern of any stock...you should trade as often as you can.....
ESLR..you have mastered...so make more $$$.
GS is NOT invincible imho.
Saleem
SALEEM: again let me thank you and offer praise to one whom offers us all sollace and wisdom!
The market just truned up again look how strong LDK is. Maybe AGU will bounce too.
Good call on AAPL and BADU they sure are tanking.
Peace
Madmax
Hi Madmax,
Booking loss is NOT prudent @ the-bottom.
Today is shaping to be BOTTOM.
I am thrilled that my take on markets gives perspective & comfort to many.
Saleem
Saleem,
It looks like AGU did its test just like you said it might. Man I wish I could see the market through your eyes. Hey, I can! Thats what the blog is for. LOL...
Hi Doug,
After every test of support...stocks generally take off.
AGU is behaving better NOW.
Keep the faith.
Todays close could be "very interesting"
Saleem
Its actually comfortable watching these stocks do their tests. It used to scare the heck out of me but now I just expect it and am happy that it gets done, to set the next move up. I learned that from you by the way. LOL.
Is AAPL a buy here?
Hi Troy,
AAPL is the "only Tech" I will buy based on its relative strength.
Yes Yes & Yes....
Saleem
Troy,
In my opinioon, I would wait for AAPL and try to buy around $160 ( p.s that is my plan). I think you'll make some serious $$, as I am confident their earnings for Q4 will handily beat expected earnings! Just a prediction..AAPL around $200 right after earnings (25% gain).
Bruce
Also keep this in mind, this can happen anytime..!!
Doug Kass just said his DC friends say Fed will cut momentarily
"I have friends who are very close to the Administration.
I have friends who are very close to members of the Fed and they say that the Fed will ease momentarily"
Saleem,
I would have never guessed that ESLR would see these levels again for a long time. The MM's are just ripping the market to shreds. Unbelievable. I let a trade drift down. Not part of the plan. I just sat there and watched. You said earlier to me, "you've got to act fast". I still have conviction that ESLR will be back soon but I had the chance to sell for even and didnt. Im learning and not upset about it as it just drives home the lesson.
Hi Doug,
One lesson ALSO..which is important !!!
If you did NOT get your planned price/trade....
Always IMPLEMENT pan B....
Which is ...just take the loss and wait for your next best idea...
Saleem
I just read a Rev Shark letter and He said to be careful not to try to bottom fish in this environment. I think he is right. I agree with you Saleem, to take trades off when they go wrong. Thanks, Doug...
Hi Saleem,
Sorry for AKNS and CSIQ.
They are getting really hammered. I hope they will turn around in the last hour.
I bought TEVA begining of the year no matter what happens in the market it goes up and up with good volume. I also bought SRS today at 138 but I will sell it before the market close today. It is a very scary stock.
Good luck all.
Hi Rimm,
Well.....they are taking Solar to the cleaners.....
I am more bullish about my solar portfolio than before ?
Why ?
I am always aware that they can take it to support area....
Guess what....
They are testing support right NOW...
It is SAFE to own NOW.....
Good luck on your trade $$$
Saleem
Solars will be just fine, look at the big picture, 6 months or 1 year down the line, when all this gloom and doom talk is over.
but, solar and alternative energy is reality and it will be needed what ever happens..
Hi Troy,
Solar will be the-star performer for 2008....
Today is the-best buying opportunity......
Saleem
HELLO
THe market is UP!!! Hurray...
And Solar is rocking!!
Looks like I sold my AAPL to early it is up $4 bucks and I sold it this AM as I thought the market would tank again, hmmmm.
AGU is up also, what a great recovery.
Is the floor in Saleem?
God Bless all
Peace
Madmax
Hi Madmax,
AGU,Solar & market.....
Floor is IN....
Even financial are taking off...
Check Merrill Lynch....
So...sun will RISE AGAIN $$$
Saleem
Great day All,
maybe we can get those couple of days in the green that so many of us need, to reposition for changing tides.
Saleem, I am back in the green on my ESLR trade. I am a little overweight on it, but I am confident about my cost basis and I am going to give this one a little more swing. LOL. Great calls today on the markets, sectors, and action in general. Thanks for sharing your calls. Doug...
Hi Doug,
Since you are the-master of ESLR...your strategy should work...
What a great finish to a lousy day !!!
Yes..there is more days like today..are waiting in wings...
Saleem
IH made 4 buys this afternoon. GILD, CHL, SLT and DRQ. They bought SLB and IMA yesterday. All are upside buys. They did buy puts on GME and SBUX though. Just some stocks for bloggers to look into for shorter term plays. Best wishes to all.
Also Gorilla Trades had GILD and SLT as confirmed buys this week.
Alcoa's great ER will lift the stocks tomorrow since it's the first big earning of the year.
Saleem, AKNS rumors about CEO selling shares and stuff, what is your take on it?
TIA
Troy,
Below is a 12/17/07 Form 8-K filed with the SEC. Bottom line, Mr. Cinnemon, the CEO, planned to sell 700,000 shares of stock at predetermined time. Appears the sales were to pay his ex-wife off from his 2006 divorce. He has recently sold 400,000 shares of the 700,000 shares. After all the remaining 300,000 shares are sold he will still have 7.6 million shares.
Bottom line: scare tactics by short sellers....BOO!
Form 8-K for AKEENA SOLAR, INC.
--------------------------------------------------------------------------------
17-Dec-2007
Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure
On December 13, 2007, Barry Cinnamon, President and Chief Executive Officer of Akeena Solar, Inc. ("Akeena" or the "Company") adopted a Rule 10b5-1 trading plan to sell a portion of his shares of Akeena's common stock in the open market at prevailing market prices during 2008. Mr. Cinnamon has informed Akeena that his plan has been put in place at this time in order to satisfy financial obligations incurred by Mr. Cinnamon as part of his 2006 Divorce Settlement. This Rule 10b5-1 Plan was established to comply with Rule 10b5-1(c) under the Securities and Exchange Act of 1934 and the Company's policies regarding stock transactions by its executive officers.
Rule 10b5-1(c) allows corporate officers and directors to adopt written, pre-arranged stock trading plans when they do not have material, non-public information. Using these plans, insiders can gradually diversify their investment portfolios, can spread stock trades out over an extended period of time to reduce any market impact and can avoid concerns about whether they had material, non-public information when they sold their stock.
Under his Rule 10b5-1 Plan, Mr. Cinnamon contemplates selling up to 700,000 shares of common stock over the course of the next year. The contemplated sales would constitute approximately 8% of Mr. Cinnamons' current holdings of common stock and options. If Mr. Cinnamon completes all the planned sales of shares under his Rule 10b5-1 Plan, he will beneficially own over 7.6 million shares and stock options in Akeena Solar.
The transactions under this Rule 10b5-1 Plan will commence no earlier than January 2008, and the actual sales will be disclosed publicly through Form 4 filings with the Securities and Exchange Commission. The Form 4 filings will also be posted on Akeena's investor relations Web site.
Saleem, thanks for the update.
I must say; you are very strong and decisive, I like that...!!
TIA
Saleem,
The reason why I knew the answer to Troy's AKNS concern was that I joined the AKNS stockholder train at the end of the trading day.
PORTFOLIO:
AKNS - 18.89%
AAPL - 6.85% - nice comeback today
LDK - 21.23% - started off GREAT due to upgrade but faded...although it did come back somewhat at the close. Also up in AH.
Cash - 53.01%
Best to everyone!
Bruce
Bruce,
Your portfolio is in the sweet spot my Man. Nice. I Enjoy your posts. Kindest regards, Doug...
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