Market gave a nice "thumbs UP" to rumoured deal between Bank of America & CFC....
Why it is "significant"......
Because...it gives a floor to Financials...where deals will be made or financing should be coming through from sovereign funds.......
This rumour was perfectly timed...when markets were in Red...after fed speak....
What about Fed speak......
It is still "talk".....
As aunt Clara will ask......"where is the...... action"
Markets will rally "big time" once BB actually pull the trigger on fed funds rate.....
Yes...we have already seen the low...in spite of GS tactics.......
Hope you did some buying today !!!!
In my portfolio :
AGU down 15 cents...trade rating 70 ...1st target $74.52...2nd target $77.15
AKNS UP 77 cents....
CSIQ down 75 cents...trade rating 95..1st target $27.72...2nd target $28.51
LDK UP $1.69..trade rating 90/overall rating 90..1st target $52.02 2nd target $54.88
MA down 59 cents..trade rating 80..1st target $205.84..2nd target $218.07...
My portfolio was UP .69%........
In other stocks :
SOHU UP 60 cents... trade rating 90/overall 100... 1st target $55.06 ...2nd target $56.46
SOLF down 38 cents..trade rating 100...1st target $36.20..2nd target $38.99
AAPL down $1.38..trade rating 75...1st target $186.66...2nd target $192.68
NTES UP 36 cents..trade rating70..1st target $20.43..2nd target $21.57
Most financials moved UP strongly......an extremely significant event...no rally can last unless financial participates......thus the verdict of "bottom is IN"....
Please continue your OWN due diligence to develop CONVICTION in your position.
BLOG does NOT give buy or sell.
Saleem
24 comments:
Hi Saleem,
Today did well - up 2.13%, which actually is excellant considering 51.84% of my portfilio is in cash!
PORTFOLIO:
AAPL - 6.67%
AKNS - 19.91%
LDK - 21.58%
Cash - 51.84%
Just one little sad money/trading story that happended to me today.... I watched BB's speech today and had a hunch something would happen with some bank stocks... so...The first one I put on my watchlist was CFC. All of the sudden, I notice a surge in activity. I quickly decided to take a shot and purchase a few thousand shares. Had all the info entered to buy and my computer locked up on me and I could't make the trade.....GGGRRRRRRRR! Would of made a bunch of $$$, but guess it wasn't meant to be. Oh well there'll be other opportunities.
I am going to be looking an some banks tonight. I think there will be a lot of speculatory thinking regarding who else may get taken out. One possibility, in my opinion may be WM (Washington Mutual).
Hello and good luck to all!
Hi Bruce,
Excellent performance today of being UP 2.13%....
My luck has seized up on me lately...
If it was not for my Canadian $ short ..i will be down lot more...
Yes WM is good speculation.
Doug was lucky with CFC today...he is enjoying 18 oz Prime Rib.
Sorry to hear abour PC lockup.
i keep it all cleaned UP every 2 hours per day...with Ccleaner program..it is a free download from www.downloads.com ..
It take 10 second to get rid of all temp files & all crap which sits in with each page view..
saleem
SALEEM
I will try the Ccleaner
My PC has gotten so slow that I can not stand it
Thanks
Madmax
Saleem
FYI.....
On Fast Money website.
"I think Mastercard (MA) is a buy, says Guy Adami. It will probably get beaten up on the back of Thursday’s Amex news, but it’s a different story."
Hi Bruce,
MA is acting very funny...again too much money tied up & nothing to show for.
Not my "lucky streak yet"
Saleem
Saleem,
There is definately some luck involved in investing and trading. No question about it! Some of my best trades have been due to luck. When I speak of luck, to me it's a combination of finding the right stock at the right time and having the conviction to pull the trigger. To me trading is like golf, when your confident and your on the putting green, the hole seems 3 feet wide and you know you'll put the ball in the hole. Conversely, when your "cold", the hole look as big as a pinhead, and you know you don't have a chance of making it. I wish I knew the secret to get the confidence/momentum flowing. Of course if I did, I would't need to trade as I would be on the lecture tour making $$$$$$$$$!
Hi Bruce,
I do go these phase each year several times..generally last 4 weeks....
Next week friday the 18th will be 4 weeks of my first lull period of 08....
It will be nice...if this lull ends tommorrow...6 trading day earlier than my average...
An eternal optimist I am !!!
Saleem
Hi Saleem,
I trust you know that I was not trying to be an alarmist today, with the posting about MA stop. I was only trying to provide you with info that I had, in as timely of a manner as I received it, I posted it, just for extra info for you. I considered whether or not the posting may upset you, as some folks get irritated with contrary postings to their positions. I thought it through and decided to post it, thinking that you would rather have the feedback, than not. Thanks much for the SOHU update. My new cost basis is $53.90 as I bought a little while it was in the $47's. Still holding LDK, SOHU and ESLR. I think that I will exit ESLR if I can get a little bump. No trades today. Best wishes, Doug...
The Big Picture (from today's IBD)
The market remains in a correction. Three out of every four growth stocks tend to fall under those conditions.
That means avoiding new buys, cutting losses short and banking profits where appropriate. Playing defense is your best course of action.
If you’ve held onto a few stocks that have fizzled, fretting that you’ve missed your chance to sell, the market’s gains the past two days may offer a good chance to get out and minimize the damage.
You never know how deep or prolonged a correction may be. Holding onto beaten-down stocks could lead to losses that can seriously hurt your portfolio and your confidence.
Hi Doug,
There is NO such thing as bad news for any stock....
News is always important to make an informed decision.
I will encourage you to post any negative news on any stock which I or other people hold.
How can being "helpful be bad"
You should know me by now.....
I am in the market...with a "clear understanding of downside risk"
That is the reason I always watch/monitor tape to know with tape that a negative news is @ play.....
As they say....never fight the tape !!!
Your posting gave me one more info on MA which I had to process...so keep it coming in real-time.
What are friends for !!!
Saleem
Sakeem,
I thought that you would feel that way and I am glad. I hope the market turns around on the BAC/CFC buyout, It is Friday though and in a weak market, it seems mm's dont like to go long over a weekend. Best of luck to all today.
Hi Doug,
I know you had a great week already.
Especially on good week...it will be nice to know by everyone that ..how well you did..to motivate others.
ESLR is moving in pre-market.
Saleem
Your AKNS is looking strong too Saleem. I will post results but until I can get even on SOHU and LDK, my overall gain is still down. If I just isolate my trades, I did well. That is why I am excited to have the chance to be all in cash, so that I can start my new mission of setting new 52 week highs every week on my total dollars. I hope I hope I hope. LOL.
Hi Doug,
You are handling your selections & exit smartly.
You are also getting wiser in keeping CASH for opportunities...
It is always nice to discover..that you do NOT need to put all IN to make money...
Making money has nothing to do with how much you plunked....it is always about ...where you plunked $$$
Weekly score is good for psyche..which has nothing to do with overall return.....
It is the daily & weekly return which will take you to the promise land.
Saleem
SALEEM:
Off topic...
Does the PC ccleaner cost much to buy??
I was thinking that maybe taking my PC to Best Buy for a tune up would be smart . I do not want to give them the PC and pay $125 for system clean up.
What are your thoughts. My PC has been slowing down so my much that It almost locks up! Ouch
Help please thanks so much
Peace
Madmax
Hi Madmax,
In order to keep your PC running as fast as it can...there are several things you need to do:
Have a good anti-vrus which checks daily automatically..AVG is a good one & it is FREE.....
You need to cleanup your startup programs....you have too many starting up ...which SLOWS your PC...
I have only 5 programs @ startup.
Then you need to defrag your PC once a week....
Remove all unnecessary program from your PC...
Finally you need to download free Ccleaner.com .....& run it several times in a day...
if you do all the above you can save $125....
Saleem
SALEEM
My friend thanks so much I am trying will do it all
CCleaner is it free or do I pay to use it I thoughtr that it cost $29.00 for one year?
thanks again
Madmax
CCleaner is free and I use that all the time.
Also make sure you do not have spyware and malware on your computer, that would also slow down considerably.
Also for all the friends here, Webroot SpySweeper is giving away a 1 year free subscription. I use it and clears all the spyware without any issues.
http://www.webroot.com/activate
Saleem and all,
Been watching SNCR for a while. An Iphone play.
Great FA but but bad TA. Today, it seems to be at the bottom of the pit. Very tempted to jump in (small amount). What's your take on this play?
Dear Saleem,
I am back in MA.- small positon, just
50 shares. Bought at 184.
What does the MA-tape of today (so far) tell you?
Thanks for your input.
best wishes from the sunny tropics,
Don U
Hi Don,
MA is looking for support.
Today is the day MA will show all of us where is the support.
If I have to guess.... $182 area ..looks like it....
So you lucky man...you bought near support....
Saleem
Hi Frogvest,
I do not follow SNCR.....minaccess does...hopefully he can guide you better.
Saleem
Hi Saleem and Frogvest. I was a holder of SNCR and it is on my watchlist. Great company, is in a correction now. It is an iphone play, but also an AT&T play. Apple and AT&T have come down, possibly hurting SNCR. It has been a high flyer, recently it was a single digit stock. Buying stocks in a correction is tricky. SNCR may be at the bottom of a double bottom base. If so, it goes higher. If you buy, I would put a stop near 24.30. If it goes below that price, the double bottom base is broken. Peace.
SALEEM
Thanks for the PC help
I bought 30 shares of MA at $183.
RSI is 33.50 and I think the floor is in around $182.
I hope so for all of us
SOLAR seems to want to pop, but the overall market is shafting the break out, IMHO!
Peace to all
Madmax
Post a Comment