S&P 500 tested support of 1370 & went below.......
Now trying to move above support.......
Feels like a bottom in the market....because technicians are satisfied.....that S&P 500 went below support.....
This will put a very strong bottom in place.......
We should rally from here......
The rally will be sustained.....as we made a "triple bottom"...
No matter which sector.....they all went to their LOWS......a sure sign of "capitulation"
I still believe that Solar will perform....
My portfolio is :
AGU,MA,LDK,CSIQ & AKNS.......
Not a single shares sold.......
Show conviction.......
I am doing just that......
Saleem
13 comments:
Hi Saleem. The market has been taking it on the chin. I used to have 1/2 of investments in foreign etf's, energy and alt energy and agriculture. The other half I have had in cash. The market has obliterated my 1/2 that is in the market. I have been watching my watch list get hammered as well (LDK, CSIQ, MELI, EJ, etc). I don't know where things are going, but I am keeping the 1/2 invested and keeping cash as well until we are back in a confirmed rally. Picking bottoms are the hardest thing to do. I hope you are right. Today doesn't look bad if you look at he major index numbers, but multiple stocks are down 10+ %. Peace.
Hi Minaccess,
You are following a very good strategy of being 50% defensive...
Obviously I am caught with my exposure.....have decided to brave it out...
Yes ...get back IN ..when it feels right.
Saleem
Saleem,
CHTT and AGP are tempting. They should do well in this environment but I just don't have the courage to go long yet. I wish I did. Until my solars do some recovering, I am just emotionally frozen. Just some intra day thoughts. Good luck the rest of the day.
Hi Doug,
The beauty of "dual strategy"that you are "trained to compartmentalize your thinking"
So you have two solar which are "non performing".....
Would it not be nice to have trading stocks giving you the upside to ofset the downside....
By the time LDK turns green...your trading stocks will be flying ???
But ....you are the one to feel "comfortable"...
If you are NOt then you are NOT ready.....
More than 2 cents worth !!!
Saleem
Always appreciative, not only for responding to my posts but encouraging/challenging me. I will see if I can find some discipline, apart from emotion. Thanks Saleem.
HELLO ALL
Doug, You really like health care
the 2 you picked to buy are defensive plays.
Buy MA or GS, VMW or NYX for a thrill ride and UPL for a nat gas play.
Good luck this is one tough market
I got stuck buying AGU this AM and it has not retutned the favor, Hmmm
Cheers and Peace
Madmax
Hi Saleem. Looks like the markets are bouncing, although it is helping my type of growth stocks less. Solars, ag play and energy still down but off their lows. LDK only down 2.00% now. It took all my patience not to sell my long term plays today. Peace.
Hi Minaccess,
Some market bottoms are protracted & painful...this certainly goes to the top of the heap.
LDK will be fine going forward.
Sometimes patience pays off.
Good luck with your ETF !!!
Saleem
Hi Mad,
Yes I have been looking at defensives with TA showing strength. IH tells me that money will flow into defensives as shorts cover fast movers. You may be right but if the market turns, I want to be a little more chicken hearted. LOL. Best wishes.
Hi all,
Healthcare stocks have been doing great last couple of weeks. My two stocks TEVA and AET are doing fine no matter what direction market goes. CELG and GILD look like great healthcare plays too.
The amazing thing is that FSLR does not reach its 40 week moving average on the weekly until 134.00 as of today.
RIMM hit its 40 week ma at 85. AAPL's is 146. ISRG is 221. MA is 161. BIDU is 247. PBR is 75. JEC is 71.
For all you Solar guys
Oversold conditions nearing bottom.
Good looking charts at SR.
www.schaeffersresearch.com/commentary/trading_floor_blog.aspx?single=true&blogid=82026
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