Market slumped @ open.......thanks to rating agencies...jobless claims rising..inflation showing higher read......
S&P 500 went to 1334.08......
It is nice to see that the "trio of above cocktail...did NOT sink the markets deeper"
Have we SEEN the bottom already......looks like it @ this stage.......
As I always say...TAPE never LIES.......
If market is holding...then market is holding......
There has been major margin related selling by hedgies & retail in this protracted selling since october.......
Margin debt has fallen also.........
In my portfolio :
MA came out with "way better than expected EPS & Sales"...also guiding with confidence for a double digit GROWTH......their MARGINS are improving worldwide.....they are confirming that people use MORE credit cards in times of distress...which is the-case in US......
CC was extremely thorough in details & addressed all the ISSUES as played on MB , CNBC & by analyst...all part of opening message...in plain english...they said they ARE the beneficiary of credit growth without the RISK associated with it......
MA UP $25.20....on heavy volume of almost 6 million shares in less than 2 hours of trading......
AAPL UP $1.00 ......
AGU UP $ 1.51...
AKNS down 13 cents
CSIQ down 11 cents
LDK down 99 cents
PCA.TO down 72 cents..... ER was below..due to liquidation of their hedge....
UEX.TO UP 2 cents
@ 11.34 AM the following are green :
VMW,SNDK,SIRF,POT,IGT,CTRP,WYNN,LVS,NMX,
ISRG,DRYS,EWY,SOHU,PHM,TOL.
Good luck on rest of the day.
BLOG does NOT give buy or sell.
Saleem
12 comments:
Saleem,
Any thoughts re: TSL right now? Am thinking about it as a ST trade. Thoughts appreciated.
B
Hi Beatrice,
TSL is testing its recent LOWS today....
TSL...Showing extreme technical weakness.
You may be better off with STP.
Saleem
Hi Saleem,
Congratulations on your conviction with MA. Do you have a sell point or are you sticking with it long term?
Thanks,
Ken
Hi Ken,
Based on everything I heard in CC...it will be wise to keep it for long term.
If they can do so well in so-called "tough times".....
I am sure they can do "better" when economy improves.
Thanks for your note.
Saleem
Looks like solar sector is out of favor....
it is financials/banks/dryshippers in favor now...
Hi Troy,
Solar & Oil may take a rest for a while.....
Value is IN.....
Saleem
Hi Saleem,
Nice call on the market! Looks like the shorts are closing up shop. Better days ahead.
Standards
Hi Standards,
We have turned the corner in this market.
New sectors are running away....
GOOG will give US another kick UP.
Saleem
Saleem,
IF one were to buy GOOG AH, what would you consider a good entry? It just hit 508. I won't buy unless it really looks extreme. What do you consider "extreme."
Thanks.
Am really impressed with the MA action this pm and even more impressed that you still own it.
Hi Beatrice,
GOOG missing both on top & bottom line is NOT pretty.
I will leave it alone UNLESS their CC is giving BIG hope for next Q....
I will NOT touch it @ any price until Q3 (aug)....
MA has a business model which IS working on top & bottom line....so I stay PUT.....
Saleem
Thanks for input on TSL and GOOG. I ended up buying TSL before I heard back from you, and luckily market went up and took it with it. I don't plan on holding long. I'll stay away from GOOG.
B
Looks like GOOG is getting the same treatment as other TECH stocks... on missing the expectations set by analysts .... again those expectations were set by analysts and not the company....
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