Market are in "trance".......
Thanks to Fed & White House... all action & NO talk.......
Action is what... wall street needed...all along !!!!
Market gave a"green thumbs UP...to Stimulus package "
Market liked the goodies which was in "economic stimulus"
They are increasing the ceiling to $700,000+ on mortgages from $400,000+.....a direct benefit to home builders , mortgage lenders....plus Home Depot of the world......
In My portfolio :
My Canadian $ long position went into "overdrive by shooting UP against US$ by 1.96 cents...this is a mother of all moves......as you recall I switched @ 97.85 on tuesday..today it closed @ 99.67 so my net gain in two days is 1.82 cents which is a gain of 1.86% for my entire portfolio valuation...not bad for a person who does NOT trade currency.......
AGU UP $4.27..rating 75/45...1st target $64...
MA down 81 cents..rating 80/70..1st target $208.90..
CSIQ UP $1.64..rating 90/55..breakout $19.16 (already trading higher AH)..1st target $22.18..
LDK UP $2.64..rating 80/55..1st target $45.98....
AKNS UP $1.08...not rated.....
UEX.TO unchanged...target $19.75...
AAPL UP 72 cents for me..rating 100/90..1st target $147.21......
In other stocks :
TKC 65/30..1st target $25.20...
VIP 85/45..1st target $36.06...
MSFT came in with a BEAT & in-line guidance..gave a major boost to the markets in AH......
All techs were flying & Futures shot UP.......
Booking profit is a very important tool to enhance portfolio returns...I do IT in a very "unemotional manner"
All this effort .......IS to make money...the only way I know is to SELL & LOCK profit...which has been missing in the last 3 weeks....as we ALL have piled UP huge LOSS.....
You can always buy the same stock again & again.......
Good luck on friday.....it will be "great if we can get 3 green close in a row"
BLOG does NOT give buy or sell.
Saleem
15 comments:
Hi Saleem,
I keep hearing we are not out of the woods. The market is not yet completed the correction. What do you think?
Diane
Hi Diane,
Markets will struggle through march.
Currently we are enjoying a celeberation of two major action...
Rate reduction by fed & stimulus package agreement....
How long this celeberation will last...I do not know...
But as you noted that I booked profit in RIMM & will do the same in AAPL.....
This market will remain choppy..but strategic sector focus will pan out...based on oversold sectors....Solar is certainly my bet....where I added more yesterday.
Market timing needs to be ignored..but sector timing needs to enforced...
Markets generally lose people money as they are SELLING in down days and buying on UP days... but strong stocks always pan out in the end either by trading @ certain levels or hold & bear which you did very well with CMED...FWIW
Hope it helps.
Saleem
Hi Saleem,
I sold MA for $1.20 profit and then bought AAPL @$133.35. I will sell AAPL today as well. I dabbled a little in margin, and thats why I sold MA and will sell AAPL. I know that I could have stayed with MA but since it presented me with a small gain, I just decided to take it. After that, AAPL dipped and I grabbed some. Maybe a little too flippy with trades but I still came out ok. I rarely ever use any margin money and I am not going to press it at all. Most all the time, I trade with my own dollars only, but because of my LDK and MLNM positions, I stretched it out a little with loading up for this quick AAPL trade. If MLNM makes a move today, I will sell it too but if it doesnt, I still like it for healthcare safety play. If the market does any testing, MLNM has already been doing its testing and new money may come into it, so I will be patient. LDK is still a long hold for me. With the FWLT $10 gain, MA and AAPL trades, I feel like this week was very productive for me. I also feel that I am in synch with the market for a change. Im ready for up or down. If the market does roll over at resistance, I am looking at SDS and TWM for quick downside plays. I do think that the market is healing and going forward, it looks like a third leg down may be brief and the chance for a quicker recovery is more promising now. Best wishes.
Hi Doug,
I like your quick trade approach till march.....
Markets do not make money but stocks DO.....
So do whatever looks right to you.
Make sure you are are comfortable holding losing positions.....as they say in wall street..."when stocks are SICK...they DIE"
Be comfortable with the type of trader you are....no need to second guess.....
We ALL have hits & misses.....
Good luck today !!!
Saleem
Thanks for the reply Saleem. I am trying to read between the lines of what you said. Were you talking about MLNM being a potential candidate to let go? I was just wondering if you felt that MLNM may not be acting right? I would love any thoughts as I value and respect your opinion. I am not married to it at all but I have just been waiting for IH to guide. When they stop out trades though, sometimes I think they wait a little too long and pain can mass up. Any RSI or other signs you see as MLNM being weak? Thanks for any thoughts.
Hi Doug,
I have very bad experience with biotech/pharma....
They collapse very quickly....
So .....I personally do NOT have any confidence in that sector...
Go with your GUT....if MLNM closes above 50 DMA which is $15.02..it may have some hope as it is OVERSOLD........
I do NOT follow this stock...so have NO clue.
Saleem
Thanks so much Saleem. I have been burned big time in small cap BIO in the past too. My cost basis is $15.05 for MLNM with too much exposure as I cost averaged down. One of my rules for 2008 is to not be too exposed in any one position but I managed to let myself do it again anyway. LOL. I sure do appreciate your providing me with your opinion and the EMA info. Good luck today. p.s. IH is seeing more strength in this rally. They are still suspicious of a test of the last lows but they are keeping their long trades on until a better signal. We shall see. Thanks again...
Doug,
I have had the same experiences with Biopharma stocks as Saleem....burned! They can go down faster than lightning at a given momement.
Hi Bruce,
I agree completely. Bio stocks are seductive to investors because the promise dream returns, but 9.5times out of ten, they are dream smashers. LOL... I inetered the trade with IH so I had a little more confidence in the TA... Best wishes today.
Saleem,
I pussed out and sold AAPL for $3 gain.
DOUG
Any time that you get a profir take it
It is far form Pussed out. Cash is king, IMHO.
Has any relooked at my fav DSX and DRYS?
NYX is coming back $78, need to see $90 to get even. Oh boy!
Good Luck all
Peace
Madmax
Hi Max,
thanks for the response. I dont know about the dry bulks but I feel confident that you will get your $90 + on NYX if you hold. I think it will see last years high, at least, some time this year and probably sooner than later. Saleem, follows NYX, so he can help with that one, Im sure. Good luck today.
HELO fellow bloggers!
Does any one know about this web site and is it worth the money
http://www.stockmarkettradealerts.com/member.php
I know that it is not cheep.
Comments Madmax
Last night Hsu's China Strategy came out with a sell on Apple as well as TSM. He said he likes them but doesn't want to hold them in this environment...will revisit them later. His sells tend to put ST downward pressure on stocks...
On another note, my husband who is a huge Apple fan came to me after reading a bullish article this morning and asked me to buy some. Told him I already had. He doesn't want me to sell it...
How are you feeling about Apple right now Saleem?
Cheers,
B
Hi Beatrice,
There is "lot of negative press about AAPL since ER"
AAPL faces this on a recurring basis..based on hedge funds agendas.
If AAPL remains @ these level...I am inclined to add.
AAPL PE is attractive than most other horsemen....
Saleem
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