Markets are trying to build some upward momentum......
Markets wants to rally into fed feeding .....
Why ???
Because market is pretty confident that fed will do the right thing......
& what is that..... right thing...you ask ???
Cut fed funds rate by another 50 basis ......
See..there is a "real reason for the stability in the markets NOW".....
So...try to enjoy the colour "green for a change"...who knows when it MAY disappear !!!!
In my portfolio :
AAPL UP $1.15....PJ has nice things to say today....
AGU.TO UP 84 cents.....
AKNS UP 74 cents...
CSIQ UP $1.01....
LDK UP 30 cents ...
MA Down $1.12 cents...
PCA.TO UP 7 cents...
UEX.TO down 15 cents.....
My long position in Canadian $ has been working ever since...today it is UP 56 tick and it is trading above parity with US$ last quote 100.14...means Canadians have to pay only 99.86 for 1 US$......enough of genius talk !!!
@ 11.33AM the following are green:
CMED (getting close to high),TSL,POT,TSO,WYNN,LVS,
NVDA,NYX,VLO,SPWR,FSLR,WFR,SNE,DRYS,FWLT,
SOLF,STP,NTRI,ASTI,JASO.
Todays negative tape includes :
BIDU,ISRG,AMZN,ZRAN & VMW........
Good luck on rest of the day.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Saleem,
have you noticed how ALL commercials targeted to retail investors, by the on line brokers, ALWAYS show someone buying a stock? They never show someone selling a stock and saying " I just lost my ass" or I just sold and made a profit? NO, they always only show the hype and excitement of buying only. But that means nothing. What's important is what happened when they sold. Totally Evil IMO.
Hi Doug,
With this major correction.....I hope that many investors will learn a very important lesson of KNOWING their stocks WELL.....
CONVICTION is what is important based on FACTS NOT FICTION....
Saleem
Saleem,
Do you ever play the short side?
You can never tell how the market will react to a fed meeting. I suspect that the rate cut is already "baked in" and regardless of what the fed does - it won't "be enough" and the markets will slip. I think - as you say - the bears and hedgies are in control.....time will tell
Pete
I am learning that more and more Saleem. I will give you much credit for persuading me to reflect on conviction and FA. I have learned much. Ive told you this before but I will say again, Your stressing knowing my stocks and having conviction as to why I bought, has saved me lots of dough. You are the Man!
Pete,
I will chime in on this one, if you dont mind. I like ETF's for playing the down side because you are not attacking any particular company, that could affect retirement and savings for employees of that company. Shorting with ETF's is just betting on index movements... QID, TWM, SDS... and you buy them long as they trade inversely with the indexes. When indexes go down, these stocks go up. So you buy and sell like any other stock. You probably already know all of this but I keep those tickers on my daily ticker watch screen and go to them whenever I think the market is turning. best wishes...
Hi Pete,
No I have NEVER shorted any stocks or bought PUT option.....
I enjoy being in the market with as little STRESS as possible.....
I sleep well knowing my risk tolerance.....
I do NOT have talent to short.
I think ..that markets NOW are on more stable grounds vs few days back......
Yes GS of the world CAN play with this market for MAX 2 days...imho
Saleem
Hi Doug,
I am happy that you are taking my message of knowing why you bought in the "first place..to a belief level"
It pains me to see that some traders continously..buy & sell ..majority of them @ loss....
CNBC does not give you education about stocks......
CNBC is in the business of ratings through FEAR & CONFUSION.....
Some stocks need to be looked @ longer time horizon.....some can be traded regularly....
Saleem
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