ISM data which was weaker than expected is taking a major bite out of the markets......
ISM was expected to be weak......
ISM is nowhere close to recession level......but it is being taken as major negative today ...so far !!
Nasdaq is the weakest of all indices down 1.67%...so far !!!
In my portfolio :
BIDU is down $9.44
MA is down 54 cents
CSIQ is down 77 cents
RIMM down $1.18
LDK is UP $2.38
@11.36PM the following are green :
CCJ,SOLF,BRCM (on favourable ruling against QCOM),TSL,
YHOO (on upgrade target to $32),CMED (on heavy volume),
AUY,GG,ABX,AMZN(upgrade),DRYS,ISRG,FMCN.
Any sell off is a great reposition opportunity.....do NOT hesitate to BUY strong stocks @ sale price right NOW......based on your OWN investing/trading objective.
BLOG does NOT give buy or sell.
Saleem
17 comments:
Nice call on CCJ. I said I was afraid of the low volume on the runup. Doesn't seem to affect it today even in this market. That shows strenght.
Hi Frogvest,
Thanks for your compliment.
Thankfully...it is getting easier to understand charts lately.
Saleem
What a crappy market! Hopefully, the fed minutes will help at 2pm. Solar and energy still working, the rest looks horrible. Currently holding BIDU, AAPL, RTP, SOLF and BABY in my trading account.
Hi Minaccess,
I think today MAY be a good turning point in the market.
Markets are deeply oversold NOW.
Yes Solar is giving a helping hand.
Fed speaks and market may listen...because it is oversold.
Saleem
HELLO MINACCESS:
I like allof your stock picks
Looks like BABY is hte hot one.
RSI 56.37 adn really good IBD numbers and earning are good. Tagget price is $28.00 smackers! Smile
ME still got some AAPL, RIMM, CHL, NYX, DSX and SOLF, LDK
peace to all..
madmax
minaccess ... good call... but the bounce didn't last...
Reuters
Market pares losses on FOMC minutes
Wednesday January 2, 2:39 pm ET
NEW YORK (Reuters) - Stocks bounced off their lows on Wednesday after comments from the Federal Reserve suggested the possibility of further interest rate cuts.
Earlier stocks had dropped after U.S. manufacturing data showed signs of contraction and oil hit $100 a barrel.
Probably obvious, but I don't know what ISM is
Hi Donrey,
ISM...stands for Institute of Supply Management...which reported manufacturing data in US.
Saleem
Donrey
That is what is great with this Blog: there are never stupid questions and you always receive a kindly answer. It also forces you to do your homework, which is the best advice anybody can give.
Hello all,
What does anyone think of VIP?
Even on this crappy day it is going up nicely.
Saleem,
Well.............started up like gang-busters and ended up whimpering into the end of the day. The good news is I actually ended .11% up.
Portfolio allocation:
AAPL - 41.94% - one day soon this stock will no longer be trading under $200.
FSLR - 6.24% - Nice comeback today from being solid red to go green at the end of the day.
JEC - 11.26% - my little jewel very rarely down, and today was no exception.
LDK - 22.67% - started out like gangbusters on very nice news...ended solidly up at end of day. Whew!
MELI - 7.54% - was really down earlier (7%+) came back at the end.. down but at least closed above $70. Got a feeling this may take a little longer to be profitable for me but I am very confident that this stock will pop soon.
Cash - 10.34%
Hasta Manana!
Bruce
Saleem:
As you know, I am a big believer in AAPL. Not that Cramer is right all the time (no person is), but for what its worth he seems to be promoting my thought on holding a winner (AAPL).
The stocks he is stating should be held in 2008 due to their 30% growth rates are GOOG, AAPL and RIMM. Todays CNBC article:
Cramer’s Four Horsemen of Tech – Google Google IncGOOG
685.19 -6.29 -0.91% NASDAQ
Quote | Chart | News | Profile | Add to Watchlist
[GOOG 685.19 -6.29 (-0.91%) ], Amazon Amazon.com IncAMZN
96.25 3.61 +3.9% NASDAQ
Quote | Chart | News | Profile | Add to Watchlist
[AMZN 96.25 3.61 (+3.9%) ], Research In Motion Research In Motion LtdRIMM
113.71 0.31 +0.27% NASDAQ
Quote | Chart | News | Profile | Add to Watchlist
[RIMM 113.71 0.31 (+0.27%) ] and Apple Apple IncAAPL
194.84 -3.24 -1.64% NASDAQ
Quote | Chart | News | Profile | Add to Watchlist
[AAPL 194.84 -3.24 (-1.64%) ] – were all good for at least a double in 2007. With gains like that, taking profits might begin to look tempting to those investors wanting to get out while the getting is good. But not so fast, Cramer said. With the exception of Amazon, these stocks show no signs of slowing in the new year.
Amazon is a sell above $100, Cramer said. In the end, no matter how good tech is, AMZN is still a retailer at heart.
The other three Horsemen, however, each have 30% earnings growth going into 2008. Cramer called that “phenomenal” and said it was the main reason why these names should not be sold. But sticking to his mantra, he urged investors not to own all three for the sake of diversification. “Pick the one you like best,” he said. “Stick with the winners.”
Hi Bruce,
Thanks for your note re AAPL...
As you very well know...I am a big fan of AAPL as a company and as a stock......
I will be back in AAPL very soon...
Not bad for actually being "green today"
Saleem
saleem,
what is your opnion on AAPL recent price action. Do you think it's going to test the 50-day MA. I own small position in AAPL. i want to sell and re enter at 180-185 level.
RAM
Tonight, another Cramer comment regarding a stock in my portfolio MELI. See below.
Probably will drive the price up tomorrow. It closed down today at $70.10, afterhours at 7:25pm est. around $72. Just a guess but the stock will be up 7-10% tomorrow:
CRAMER COMMENT:
Mercadolibre IncMELI
70.1 -3.78 -5.12% NASDAQ
Quote | Chart | News | Profile | Add to Watchlist
[MELI 70.1 -3.78 (-5.12%) ]: “Buy it! Buy it!”
Hi Ram,
Whenever you have profit in volatile stock like AAPL...I suggest take the profit.
You can always buy whenever you are ready......
I am NOT sure that it will go back to 50DMA...as its RSI is getting in BUY zone again on another $3 pullback....
Hope it helps!!!
Saleem
rimmtrade,
It was Ken Hebner the other day that said his two favorite picks are PBR and VIP. With his record I would think other are taking notice.
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