Markets are in "deep red"......thanks to jobs report......
Todays tape has taken support point for many stocks.....
Markets MAY pare back some loss by end of the day.......
In my Portfolio :
I did lot of trades to adjust to "new reality of todays market conditions"
Reduced my exposure in BIDU by 50% and booked a loss in those shares of $13 per share....
Still maintaining an overweight position in BIDU.....
Bought AKNS...the new superstar of Solar industry....they have an efficient way of designing PV celss which takes fewer parts and is more efficient in turning solar power from sun.....STP 3 days ago has signed a contract to manufacture & market these super-efficient solar cells...which is also less labor intensive to install.....my cost $14.41 per share......
AKNS is UP 98 cents above my purchase price....
BIDU down $9.73.......
MA down $8.77.....
CSIQ down $1.47....
LDK down $1.69....
Also bought AGU to get exposure in Ag stock ...my cost is $73.15.....trading down 85 cent ...above my cost.....
My portfolio now is ...BIDU,MA,LDK,CSIQ,AKNS & AGU.......
@ 12.46 PM the following are green :
CTRP,WYNN,QID.......
Whenever markets are tough .....like today......I REVISIT my portfolio and adjust risk where I am overexposed.......I had too much capital tied up in BIDU which I have reduced to overweight level.
As you can see that 2008 is starting on a very TOUGH environment...so having strong stocks are highly recommended with reasonable exposure in each.......
Ensure your OWN comfort level @ all times.....I definitely do it...& you all are a witness to my strategy......it WORKS for me.....
Hoping for an improvement by close......the optimistic me talking AGAIN !!!
BLOG does NOT give buy or sell.
Saleem
PS...sorry for being late......had to figure out..what I needed to do.....
17 comments:
SALEEM
I dolike SOLAR--AKNS has an RSI of 84.8 and Target price of $38 hugh volume buyng and IBD gives it:
Earnings Per Share (EPS) Rating Relative Price Strength (RS) Rating Industry Group Relative Strength (Grp RS) Rating Sales + Profit Margins + ROE (SMR) Rating Accumulation/ Distribution (Acc/Dis) Rating
5 98 A+ D B+ this is far forn the best ratings one can get! Please provide me with your rationale for purchase, seems to deviate from your normal methods.
I like SOLR, YGE, LDK, CSIQ and ESLR. I own CSIQ, LDK RIMM, CHL, NYX and DSX, all in deep red except the solar stocks. Perhaps it is your gut reaction for purchase?
thanks inadvance for sharing your education and methods for stock picking.
Madmax
Thanks again Saleem for your ever present calm.
Goldman just said it sees three more rate cuts of 25 bps after January. I was hoping for someone to say something - preferably the fed.
Thanks Doug for the IH info. I poured over it last night after taking the trial subsription for IH alerts.
I bought STP this morning at 82.8 and still hold LDK.
FCSX is holding up well, though I sold it this morning. Oh well. What's keeping me even though are some small Chinese companies. They go up when all else goes down.
Wishing everyone well in their trading/investment decisions.
Beatrice
Beatrice, I am using IH alerts too. I forgot to mention that they offered several different approaches. IH Alerts is swing trading, much like Saleem trades. Saleem told me in a previous conversation, to not be greedy and sell IH picks before the whole target is met. I agree and I do just that. For what its worth, I hope this helped. Doug... P.S. Saleem, how do you feel about ESLR? I picked up a few shares at $17.02. Thanks for any thoughts.
Hi Madmax,
AKNS is getting the play 7 lift on their "superior technology" which came out only 72 hrs ago"
Nobody has factored acceptance & related sales /EPS with STP deal...
So it cannot reflect in OLD analysis.....
I read & Read & READ to find what I am looking for...
Saleem
Hi Beatrice,
Thanks for visiting my BLOG and also for sharing your appreciation & your interest.
We all WIN if we are HONEST with each other.....and I show by example that their is a "better way"
I always worry MORE about stocks than markets.....some stocks do go UP even today...I highlighted 3 ...
Saleem
Hi Doug,
ESLR is trading @ your cost.
Solar is going to make you money as other sectors fall by the wayside.
ESLR chart looks very good...so stay PUT....
Solar are faring better than most sectors.....you know WHY ???
Because it is HOT !!!!
Saleem
Thanks as always for the quick reply Saleem. Loving your blog my friend. Doug...
SALEEM
thanks so much for your reply and I appreciate your input on AKNS, your analysis explains a whole lot. It is the only green on my board today!
Keep up the superior work and the seren demeanor that you offer to all of us, my friend!!!!
Madmax
Hi Saleem,
Thanks for your input. I'm just amazed at where some of the financials and techs are right now.
I would like to be brave and step up to the plate to buy but it's hard. Right now I'm 75% plus in cash.
I know you don't give buys, but IF you were in my shoes where other than solar would you prefer to put cash to work. Any input much appreciated.
Beatrice
Hi Beatrice,
Agriculture stocks are very strong.....
I bought AGU today.....in that sector POT,BG,MOS are all strong & on Sale today.
Saleem
Hi Saleem. What a day. I sold AAPL, BIDU, RTP during the mid-day rally attempt when dow was down ~150. BIDU and RTP have violated their 50 dma. All 3 are now near their lows. I currently hold BABY and SOLF, both holding up well. I may sell them as well if they start to crack. Peace.
Hi Minaccess,
Yes.....markets are UGLY.....
Anything which saves you from loss & improves peace of mind is a good strategy.
I monitor my exposure in stocks & market as a strategy.....
Never exceed certain $ amount in terms of total exposure.
Saleem
Hi Saleem,
I miss your post on CMED board. I am still holding cmed at 27.50. I will take profit this year.
The market is ugly. Solar appears to be one of the best bets. I am awaiting ldk to fill the gap at 65.
Two more months and I will be training and trading. Thanks for your feedback on the WEB site.
How long have you been retired? It is exciting to have the free time.
Market is abit scary need to make some adjustments. I do not want to have to go back to work!!
Best wishes and thanks again for your feedback.
Diane
Took a pounding today. The only thing that mitigated my loss today was selling MELI and FSLR yesterday.
Today, DOWN 4.73% yeeeeeeeeouch!
Nothing good to report..my remaining stocks were crushed.
Current Portfolio:
AAPL - 40.10%
JEC - 11.61%
LDK - 21.59%
Cash - 26.70%
Was tempted to buy at the end of the day......but no conviction, as I feel that any and all stocks can be taken down very very easily. Most people are spooked. BOO!
Better days are ahead..
Bruce
Hi Diane,
Welcome to the BLOG.
CMED is a good hold as it is holding UP pretty good.....volume is also back...which is always a very good sign.
I am enjoying my BLOG big time....nice group of people post here who are extremely knowledgeable...which benefits everybody.
I am sure you will successfully navigate between training & trading...there is a nice rhythm to it.....
I have been very fortunate to Wish,Plan & retire @ age 50...it has been a dream come true...& I am humbled by this .....
CMED board....I am avoiding because of one mean spirited idiots who post with NO facts repeatedly....opinions & no appreciation of hard work like which I do from my heart to benefit many.....
Same IDIOT even had the nerve to say that my FA & TA which I post is TRASH to him...he is SzSZ....
Ah well life goes ON....
LDK will turn UP very quickly.
Saleem
Hi Bruce,
Today was a wholesale massacre on wall & broad......
There was no place to hide.....
Yes I am very happy that you sold MELI & FSLR th.......FSLR was down almost $20......
My picture would have been as bad...but my trusted Canadian $ short came to my rescue...to contain some damage...
Will give total picture in my 730PM post....
Monday should be a calm day.
Saleem
Saleem,
Once again thanks for your prompt response. Like Bruce, I decided not to buy anything more before the close due to lack of conviction.
What I love about your blog is your optimism. I could use more of that!
I don't know if the link below will work. It's from decision point which came highly recommended by stockcharts. It's their take on today's market.
I'd love to hear your thoughts after reading this, particularly since you said you tend not to think in terms of the market but rather in terms of individual stocks. My gut reaction to what is written in the link is to wait on the sidelines. When support levels are so threatened, what helps you maintain conviction?
http://www.decisionpoint.com/ChartSpotliteFiles/080104_top.html
Have a restful weekend!
B
Post a Comment