The following stocks should benefit from a major short covering.....which CAN happen any moment.Markets are deeply oversold and is in the process of making a double bottom.Higher lows in the market is a very good probability.
Please limit your loss if trade goes against you..stop loss is a great tool for those who cannot monitor their portfolio.
MA,LDK,AGU,AKNS,CSIQ,AAPL,GOOG,BIDU,SOHU,ESLR,JASO,STP,
VMW,
FSLR,ISRG,CMED,FMCN,ICE,NTES,NYX,GRMN,WFR,ASTI,POT,MOS,
BG,
CTRP,LVS,NVDA,ABX,AUY,SNE,FWLT,DRYS,IFN,EWY,FXI.
On a personal note :
My overall portfolio is down 11.8% in first 2 full week starting DEC 31.This in spite of the fact that I gained 3.9% from my Canadian $ short which helped the overall result.
Why..do I write this..First integrity...this BLOG takes pride in honesty and encourages discussions in comment section to help each other in a very difficult market.
I also give my factual results all the time ...so you can see that when markets are brutal it affects every investor/trader.....
So...how I am evaluating my results.....I am continuously trying to limit my loss by taking loss and repositioning in stocks which SHOULD move UP when markets turn...
I am also trying to figure out which sectors will give me the best return going forward.
When I look towards the end of 2008...I am projecting that my Solar & Agriculture plays will be among the-best performer.......
Why do I think that Solar & Ag will do BETTER than other sectors.......because that is where the GROWTH is worldwide......always look beyond US & Canada.......
There is a SEVERE crisis of ENERGY & FOOD worldwide....so there is a tremendous NEED to come up with solutions to Energy which takes us to Solar & Food shortage takes us to Ag stocks which will OPTIMIZE food production.Wonder seed are critical in planting because there is a worldwide shortage of irrigation WATER also.........
Please try to relax from a very TOUGH two weeks in markets.
BLOG does NOT give buy or sell.
Saleem
32 comments:
Making Money with your Blog...
Yes, by following your advices and your Blog, I made money. You, and other bloggers, talk about your good and bad moves candidly, and that's refreshing. I take notes and do my own research.
I follow your advice : "buy with confidence and stay with confidence" to the letter. And by doing so, I made money. Not with your stock picks but with that little but so very important advice.
I must admit that I don't share your optimism about the market. But I know you are not expecting us to do so. That's what is making you a great blogger. When I asked you advice yesterday about a stock you did not follow, you said so, whitout trying to be a "know-it-all".
I can't wait to share my good and bad moves. Whatever happens, I know I will be on good company. Thanks again for this Blog.
Hi Frogvest,
Thanks for your appreciation of my BLOG & some key points which I practice all the time.
On area where I differ from majority.....That I do NOT pay as much attention to the direction of market.......
But...focus on stocks which MAY buck the trend.....
There are hundreds of stocks which went UP even yesterday.
Yes I do pay attention to the direction of the market.....but pay whloe lot of attention to which stocks are bucking the trend & WHY....
There are more than 27,000 stocks....it is impossible to follow 90% of them....
I restrict my energy & time for chosen 50 @ a time for @ least a month...then rejuggle.
I am glad that you are making money with your own due diligence & conviction.
Keep it UP & SHARE some ideas !!!
Saleem
Hi Saleem,
You asked me to post my results for the week. Since I am trading faster these days, I'm not sure exactly how to post results, except for in dollars, because % doesnt really make sense if I was just in a stock for a single trade and then gone. This week I did not do a lot of transactions, partially because I am still in a bag hold position with LDK, SOHU and ESLR. I am not including the losses that these positions currently hold because I dont know what the actual results will be yet. So here are my trades only for the week after commissions:
ESLR $300 (bought it on Friday and sold Monday)
AGU $250
ESLR $190
ESLR $170
CF $220
CPHD $0
CF $260
TOTAL = $1,090
That is at the lowest range of my weekly goal. I did not make any trades two days this week and my plan looks for daily trades. I just was not comfortable pulling the trigger sometimes this week and Im learning not to force trades and take my time to avoid mistakes based on greed or poor timing. I also still have so much riding on my three holds that my cash position couldn't allow enough flexibility for me to make more frequent trades. I am very happy with this week overall, given the crap markets and the fact that I have not yet shorted any stocks, ever, and I am still not comfortable trying. My current goal is to realize an average of two trades per day for around $200 each, for a weekly total of $2,000. But right now I am happy if I will have $500 dollar weeks, given this market. Have a great weekend and its back to the war on Monday. LOL... P.S. I did notice that if I was swing trading instead of day trading, If I would have parked my money in CF and CPHD at the beginning of the week, I would have made WAY more profit. But Im still leaning toward day trading because swing offers no predictable income and I could have just as easily ended up holding those like I am LDK, SOHU and ESLR. Who knows. For now Im sticking with day trading. Still cant wait to be all in cash so that I can have the flexibility to buy even while other trades are on. I missed a few good quick trades because I didn't have the cash to move on them. Doug...
Hi Doug,
Thanks for posting your trades for the week.
Whatever makes you comfortable in posting that is all one needs to do.
The reason I encourage posting all trades...it gives some ideas about which stock to focus on....
What strategy is successful...it depends on your own objective & time frame given to achieve it.
I swing trade as a style...do not try daytrading...less enjoyable for me.....
Your needs & objectives are different than most traders...so you have to follow your own discipline....
By monitoring your daily,weekly & Year to date "equity" will ALERT you to some bad position you may be holding....also it is very good for score keeping....
Let me give you a simple system...
Suppose you started with $100,000 in equity in 2007......and ended the year @ $80,000...this means you had a loss of $20,000 for the year.....
So you are starting 2008 with $80K and the value of all position after +- for 2 weeks ..you may have an equity of $82K..so you have a GAIN of 2.5%.....
Always keep an eye on total equity (your money)..whether you have sold any position or not.....
I do a complete picture not only of my stock equity but of my overall liquid net worth...it keeps me sharp & focussed.....
All expenses are entered against a pre-set budget "as it occurs..."
I have an excel worksheet which is entered daily after close...takes 5 minute of time.......
If it is NOT in writing...then it is NOT accurate.....imho
Hope it helps !!!!
Saleem
Hi Saleem,
I am having a hard time getting my arms around your swing trade in AKNS and your comments on that stock. As you read from one of my earlier posts last week, I see poor results from this company going forward. That comment comes from a review of the last quarterly earnings report which showed the company in excess debt and out of control spending habits; like over expansion in a contracting economy and a housing bust. A solar panel sales and installation business needs disposable income and a good housing market to thrive in. Neither of those attributes exist currently or for the forseeable future as expressed by the guidance of the large homebuilders. What is it that you are seeing that contradicts this thinking? I want to short this stock if it goes back to $17. I don't think that I will get that chance though.
Hi Saleem. I agree that ag and solar (alt energy) will be the winners in 2008. Keep an eye out for another sector that will shine (maybe malaysia - see below). However, 3/4 stocks follow the trend of the overall market. That is why I have been sitting on 100% cash in my trading account (I have kept all my long term foreign etf's, long term energy, alt enrgy and ag etf's). My "stars" in the etf realm are IFN, MOO, EWZ and EWM. Mayalsia is on fire and has not been recognized yet. My bullpen, in no particular order, is FSIN, LDK, CSIQ, SOLF, HOKU, OII, EJ, ISIS, JRJC, LNN, MELI, PTR, SSRX, WX, POT, AAPL, BIDU and HOLX. As always, Peace.
Hi Stktrader,
AKNS focus has changed big time.
STP has licensed their hi-efficiency solar panel..which has less parts and very easy to instal.
STP will manufacture & distribute these panels known as Andalay into
Europe,Japan & Australia ...all HUGE solar markets....
Please read their press release or jan 2 4 pm analysis by Forbes....under yahoo finace AKNS ticker.....
As far as shorting AKNS is concerned...it can be done @ any price..if you are so convinced about your research....
But...I will encourage you NOT doing it.
Saleem
Thanks Saleem,
The system that I am using is a month at a glance calender. I post at the top, the beginning balance of total dollars in my account. I post every sale (profit or loss) each day and then total up the dollars for week ending. Then at the end of the month, I add up total sales and either add or subtract from beginning balance of the month and get a total new balance to start the next month. I plan on capturing the three trades that I am in, whenever I sell them and then post them to the trade log on whatever day I sell them.
Right now, using your method, I am approximately DOWN 9% YTD. I sold RIMM last week for a substantial loss and I am down with LDK, SOHU and LDK as I hold them now. My gains offset what would otherwise be DOWN 11% YTD.
I will follow your model in the future so that we have some consistency on how we report to each other. Thanks for everything. Doug...
I understand what you are saying now. AKNS will sell their proprietary panels worldwide through STP. It is a distribution play internationally.
Hi All bloggers,
This is a free newsletter that I receive on the weekends. I thought that it had some interesting points to consider, so I copied and pasted for anyone to read. The main point that I thought some of us with lesser experience than others, need to hear is:
"The old cliche that traders need to cut losses and let profits run in order to succeed is axiomatic. Unfortunately, most unsuccessful traders do just the opposite; they cut their profits and let their losses run. My best guess is that they do things "bass akwards" because they simply don't know how and when to either cut losses or let profits run".
Here is the newsletter in its entirety. Best wishes to all. Doug...
I consider myself to be primarily a technical trader. By that I mean I make my trading entry and exit decisions based on what I see on price and volume charts and with the use of some favorite indicators. I do not mean to suggest that I completely ignore fundamentals because I don't. However, fundamentals give me little information about when to enter and, even more importantly in my view, when to exit a position. As has often been said, fundamentals can tell us what to buy, but give us little information on when to buy it. Technicals, on the other hand can provide the "when" of a trade.
I have heard the argument that technical traders just expect history to repeat itself and while history may, indeed, repeat itself at times, that is not the primary reason for my use of technicals in the decision making process. The old cliche that traders need to cut losses and let profits run in order to succeed is axiomatic. Unfortunately, most unsuccessful traders do just the opposite; they cut their profits and let their losses run. My best guess is that they do things "bass akwards" because they simply don't know how and when to either cut losses or let profits run. I have reached the conclusion for myself that technical analysis is a very effective way to achieve the goal of cutting losses before they get out of hand and of staying in a play without prematurely cutting profits. Appropriate use of lines on a chart will at least remove the danger of making entries and exits on the basis of emotion and achieving that goal can vastly improve the average retail trader's chances of attaining profitability. In my view, while the line on a chart may be an artificial device it can create the discipline necessary to successful trading.
I recently received an email from a subscriber to one of my paid services who said that I had not set an exit or a target in the alert I sent about one of my trades. What I had written in the alert was that I was using the uptrend line as my exit. I had purchased the stock as it bounced up off an uptrend line so I had set an exit -- a violation of the uptrend line -- whenever that might occur. As long as the stock kept going up, the trend line would go up and as long as the stock remained above the trend line, I would continue to make money. If the stock suddenly turned down and broke through the trend line, I would exit, thereby cutting my loss. I wrote the subscriber and told him that I did not set targets because a target can result in getting out too early. If we set a target and get out when it is hit, what is to say that the stock price may just continue going on past the target? If we exit when the target is hit, we may have just cut our profits. If, on the other hand, we continue the use of the trend line, we would not exit until the trend line is violated and, in that case, the stock is no longer in the same trend so we have let our profits run until the trend we are using has ended.
When I write that I do not use a target as explained above, I do not mean to indicate that I am unaware of support and resistance levels. If I am in a bullish play and the stock price is approaching a resistance, that may well be a good reason to tighten a stop on the theory that the stock may turn back down at the previous resistance, but if it goes on through and continues up, that is fine with me and I have not taken myself out prematurely.
I have just used the trend line as an example of a way to use technical analysis. There are many methods used by technicians to determine entries and exits. Years ago, I gave a talk where I demonstrated the use of moving averages as a way to enter and exit positions. Much like a trend line, one could enter a bullish position on a bounce up off a moving average and exit on a break below that same moving average. One could use a MACD reversal, for example, from negative to positive as an entry and the opposite as the exit. The methods are legion. Before using any, however, the trader should study and practice the device he is considering and only when he determines that it fits his personal requirements should he incorporate it into his personal business trading plan.
Saleem,
The India market is strong. HDB up 5% since Jan 1. ICIC bank earnings report 60% QTRLY increase. ICIC bank stk up 6% today. HDB up 2.3% today. HDB earnings coming up, listed as 1/11.
Standards
The drubbing of the stock market, especially since the beginning of '08 has been tough on both investors and non-investors alike. HOWEVER.....there is a positive side and that is the impending anti-recessionary actions that WILL be taken by the FED and the adminsitration.
I believe both will act this week! Do your homework over the weekend, as you may want to put your $$ to use real soon.
Listed below is an excerpt from an article in the NY Times today. **Not included is a dicussion/agreement between the President and Congress that action is needed NOW.
My prediction: Next week will be a HUGE up week. (Just my opinion. You are the General controlling your portfolio.)
Source - 1/12/08 NY Times
Still, some Bush administration officials say any action should be sooner rather than later. “Time will be of the essence,” Henry M. Paulson Jr., the treasury secretary, said Friday on Bloomberg Television. “So I think we want to do something as quickly as possible if we do it.”
I pumped for next week!
Bruce
Hi Minaccess,
Thanks for sharing your thoughts on markets and your longterm positions.
I agree with you that EWM after my quick DD looks very interesting..even after 45%++ 12 month gain....
I may add this on my next set of ideas.
Being 100% in trading account has saved you lot of grief.....
I am more stock focussed than market driven.....
Markets are already in the toilet...hoping that it will turn its tail.
Your watch list looks good.
Saleem
Hi Standards,
Indian banks have done extremely well.....IBN has gone UP in a straight line.
One of these days I have to buy IBN.
Saleem
Saleem,
My wife and I have a possible interest in moving to Canada, like British Columbia. The values there seem to match our thinking better than the USA way of life. What does it take to become a resident citizen and how long does it take if one applies; if you have a take on it. tia
Hi Bruce,
The way I see it.....
US officials are way behind...in giving a real push to the economy.
This is NOT a market savvy adminstration....
Bill Clinton through Bob Reuben were pro-active in giving support to the market by saying something positive about economy immediately when markets were down......
Now...
we hardly get any official comments on all the "drubbing days"
I will end this reply with a very famous song by my fav Elvis Presley..saw him live in Hawaii
Its NOW or NEVER !!!!!
Saleem
SALEEM and Doug, et al:
Thanks to al of you for making this the best blog going! I have stopped with the stupid message boards.
Now I know more than ever that that is time wasted, here we truly have the best brains and some of the most experienced traders going!
I love it and wish to thanks all of us for being perfect ladies and gentleman.
I lost 10$ last week too, Just a perfect stome that kept taking out money. Boo Hoo I say.
I am sticking to 200 AGU,
600 CSIQ,
500 DSX A Drys play and 8% dividend
200 LDK
100 nyx
cash 15%
So I am diversified and hoping for a run up in stock prices soon.
Cheers to all and peace
Madmax
Hi Stktrader,
Canada encourages immigrants from around the world.....
Based in US you have a distinct advantage of getting the required points to get immigration.....
Please go to this government of Canada website...click english..
www.cic.gc.ca
You will get all information which you need.....
Plus the form to fill for immigration.
Always check the proffession which is approved.....you or your wife MUST apply for an approved proffession...otherwise you will NOT get the required point.....
Read the approved list carefully ...
If you need to discuss further please do so BEFORE applying....
I also know some people who are immigration agents in Canada....but they charge a FEE for consultation & applying on your behalf.
Hope it helps.
Saleem
Hi Madmax,
Thanks for your appreciative comment about the BLOG environment.
We all are responsible for giving respect & appreciation of this sharing of ideas.
Time is very precious for everyone....so it is prudent NOT to waste it on MB ...which is dominated by worthless one liner opinions.....
Some times hedge funds employees post with multiple ids harrasing posters..who may go against their objectives....short or long.
NYX is behaving good.
Saleem
How I measure portfolio perfomance:
I calculate the market value of what I am holding at the end of the day (note: this includes cash). I then calculate the increase or decrease in market value from the previous day and also the total increase or decrease from January 1, 2008 (i.e 1/1/08 - 1/11/08). This tells me how I'm doing.
For example Let's assume:
1. Value of all my holdings, including cash, at 1/1/08, totaled $100,000.
2. Value of all my holdings, including cash, at 1/2/08, totaled $105,000.
3. Value of all my holdings, including cash, at 1/3/08, totaled $102,000.
My portfolio results would be:
1/2/08
Daily: +5.00%
YTD: +5.00%
1/3/08
Daily: <3.00%>
YTD: 2.00%
.................
That's how I calculated my 33.43% return for 2007. Just a suggestion if everyone on the blog wants to compare their results.
Bruce
GOOD DAY SALEEM and all fellow bloggers: Here is IBD rakings.
1 BAIDU.COM INC ADS BIDU
2 POTASH CORP SASKATCHEWAN POT
3 SUNTECH POWER HLDGS ADS STP
4 VIMPEL COMMUNICATIONS VIP
5 CHINA MEDICAL TECH ADS CMED
6 F C STONE GROUP INC FCSX
7 APPLE INC AAPL
8 MCDERMOTT INTL MDR
9 NATIONAL OILWELL VARCO NOV
10 C F INDUSTRIES HOLDINGS CF
11 COMPANHIA SIDERURGIC ADS SID
12 NEW ORIENTL EDU&TECH ADS EDU
13 CHIPOTLE MEXICAN GRILL A CMG
14 FOSTER L B COMPANY FSTR
15 PRICELINE.COM INC PCLN
16 TELEFONICA S A ADR TEF
17 ATWOOD OCEANICS INC ATW
18 DAWSON GEOPHYSICAL CO DWSN
19 LIFECELL CORP LIFC
20 BUCYRUS INTERNATIONAL BUCY
21 C N H GLOBAL NV CNH
22 MINDRAY MEDICAL INTL ADS MR
23 TELE NORTE LESTE PAR ADS TNE
24 H M S HOLDINGS CORP HMSY
25 DOLBY LABORATORIES INC DLB
26 H D F C BANK LTD ADR HDB
27 RANGE RESOURCES CORP RRC
28 TURKCELL ILET HIZME ADR TKC
29 CREDICORP LTD BAP
30 IRIS INTERNATIONAL INC IRIS
31 T THREE ENERGY SERVICES TTES
32 MOBILE TELESYSTEMS ADR MBT
33 HARBIN ELECTRIC INC HRBN
34 SOUTHWESTERN ENERGY CO SWN
35 ENERSYS ENS
36 MOSAIC COMPANY MOS
37 ARENA RESOURCES INC ARD
38 HOLOGIC INC HOLX
39 NATURAL GAS SERVICES GRP NGS
40 CTRIP.COM INTL LTD ADR CTRP
41 MASTERCARD INC CL A MA
42 MILLICOM INTL CELLULAR MICC
43 QUICKSILVER RESOURCES KWK
44 AGRIUM INC AGU
45 EXPRESS SCRIPTS INC ESRX
46 F M C TECHNOLOGIES INC FTI
47 STERLITE INDS INDIA ADS SLT
48 COCA COLA HBC SA ADR CCH
49 HUMANA INC HUM
50 TEAM INC TISI
51 MERIDIAN BIOSCIENCE INC VIVO
52 CAPELLA EDUCATION CO CPLA
53 DEERE & CO DE
54 ABAXIS INC ABAX
55 GIGAMEDIA LIMITED GIGM
56 GOOGLE INC GOOG
57 FOCUS MEDIA HOLDING ADS FMCN
58 GAMESTOP CORP CL A GME
59 M E M C ELEC MATERIALS WFR
60 BLACKROCK INC BLK
61 SONOSITE INC SONO
62 NATUS MEDICAL INC BABY
63 GILEAD SCIENCES INC GILD
64 ATLAS AMERICA INC ATLS
65 OPTIONSXPRESS HLDGS INC OXPS
66 L K Q CORP LKQX
67 CAMERON INTL CORP CAM
68 ROSTELECOM LONG DIST ADS ROS
69 PERDIGAO SA ADR PDA
70 AMAZON.COM INC AMZN
71 NASDAQ STOCK MARKET INC NDAQ
72 NOVO NORDISK A NVO
73 OCEANEERING INTL INC OII
74 SUPERIOR ENERGY SVCS SPN
75 OPEN TEXT CORP OTEX
76 GREEN MTN COFFEE ROASTRS GMCR
77 WEATHERFORD INTL LTD WFT
78 CENTRAL EUROPEAN DIST CP CEDC
79 CHINA MOBILE LTD ADR CHL
80 BLUEPHOENIX SOLUTIONS BPHX
81 DENBURY RESOURCES INC DNR
82 MONSANTO CO MON
83 KOPPERS HOLDINGS INC KOP
84 CHINA LIFE INSURANCE ADR LFC
85 A B B LTD ABB
86 CORE LABORATORIES NV CLB
87 GRAFTECH INTERNATIONAL GTI
88 E-HOUSE HOLDINGS LTD ADS EJ
89 PHASE FORWARD INC PFWD
90 MORNINGSTAR INC MORN
91 ANSYS INC ANSS
92 MASSEY ENERGY COMPANY MEE
93 SADIA SA ADR SDA
94 ENERGEN CORP EGN
95 SMITH INTERNATIONAL SII
96 CHATTEM INC CHTT
97 PETROHAWK ENERGY CORP HK
98 AIR METHODS CORP AIRM
99 VALMONT INDUSTRIES INC VMI
100 CYBERSOURCE CORPORATION CYBS
Hello Salim,
Thank you so much for your valuable advise. I appreciate your response and act according to your advise.I have full respect and regards for you.
I know your analysis will never go wrong.
As per your advise i have started my investment in mutual funds and then started investing in to ETF. Now i have understood how the mutual fund and ETF trade.
So i thought of investing in stocks. I am reading yahoo finance and try to understand the market but the market is so volatile.
But it becomes very difficuilt to understand the specific movement of stocks.
I have done analysis in few stock like STV,CSIQ,YHOO,CSCO,MSFT,ORCL,
LDK,RIMM,BIDU,ACH please help me if i am wrong in analysis.
What do you think about Monday market, how it is going to be.
Thank you so much.
Regards
Preet
Indeed this has been tough 2 weeks for everyone. It made me think how I need to position myself for the rest of the year.I have been heavily invested in Tech (GOOG, BIDU, APPL almost 60% of PF) and I am not that optimistic for 2008. As market is in correction we might see few days up and few days down and may not see the banner year revenues of 2007. I am planning to reduce this allocation in every pop that will happen now and reposition in other sectors. Based on earnings, I might add to ARAY.
ARAY has been the star in my PF. This stock got ahead of its itself because of promises and newsletter touters comparing to ISRG, has been selling below thier IPO price. But Technology wise, ARAY is the best out there to treat intra-cranial, lung, prostate cancers with non-invasive methods. With thier long installation cycles, revenues are hard to predict/gauge. In couple of weeks, ARAY is expected to meet or beat the guidance and if it does that then this stock will be in mid 20's or if it fails it has support in the 15's. There is very informative board @investorsvillage.com if you want to do more due diligence. Based on earnings, I am planning to add more of ARAY.
Hi Bruce,
Yes that is how I calculate all the time including my last year return.....
The only difference is ...I finished my last year on 24th of dec as per my tax filing cut off....
so..my 11.8% loss reflects everything from 26th Dec & until 11th jan 08.....
My portfolio value was very close on 26th & 31st dec give or take $100.....
So for our computing purpose...we are all pretty close.....
Mine starts on 26th Dec yours starts on 1st of jan.....
All the damage to my portfolio was done in the last 2 full weeks only...
Saleem
Hi Madmax,
Thanks for posting IBD 100.
This is a great list for those like me who do not subscribe to IBD.
Great ideas are in this list for diversification purposes.
Saleem
Hi Preet,
Thanks for your appreciation of my BLOG content.
The stocks which you have selected..I have mixed feeling....
I will suggest that you focus on stocks which are showing YOY growth in Sales & EPS....
I like ACH,LDK,CSIQ & BIDU....I suggest buy few shares in each..like 10 BIDU,20 ACH,100 CSIQ & 50 LDK...and see how it goes and learn more about these stocks by reading every news which comes out.
Monday I am expecting a bounce..because of "drubbing" which we got on friday.
Stay focussed in ETF for long term in many of them....
Minaccess is a great source for more ETF knowledge.....
I suggest minimum 3 ETF as starting point.....
You should revisit mutual funds as they are generally poor performer ...if you have not selected with 5 year results....
I will be happy to review if you give me your mutual funds tickers..plus any other choice which you may have been given in mutual funds.....
Saleem
Hi Sankar,
Do NOT feel bad...we all are sitting with severe bruise to our PF.....
I could NOT get out fast enough from BIDU.....
@ this stage most of the damage is already done.....
Further downside is minor.....
So do not overreact to your loss...
Think about each position...& maybe reduce it NOT eliminate @ this stage..imho
But......you have to have your comfort level...if you are NOT comfortable..then DO whatever you have to do.
ARAY is being touted a lot on MB...
I have not done any DD on that.
Good luck on your decision.
Saleem
Thanks Saleem for your encouragement. In AAPL, GOOG, BIDU I am just 2-4% below my purchase price, so I am not worried about that. One good news is enough to move 10-15% pop for these giants. I am planning to cut my position slowly in increments.
Saleem,
Here is an IH email that I just received today. AGU is on their watch list to buy on Monday. Best wishes, Doug...
Play Date: 01/12/2008
AGU (Agrium--$69.08; +0.74; optionable): Ag chemicals
http://biz.yahoo.com/p/a/agu.html
EARNINGS: Early February
STATUS: Breakout test. AGU is one of the horses in the agriculture space (fertilizer and such to the world markets). Impressive run in 2007, and it still looks to have more ahead of it. It broke higher from a 7 week base in the second half of December, rallied near 75. In the market selling last week, it faded to test the breakout, holding at the breakout point at 65 on the Wednesday and Thursday intraday lows, bouncing up nicely off of that level. Friday volume was up as AGU continued the bounce up off the test, posting a gain as most of the market sold. Nice hold of the breakout and looking for a new break higher off of this test to give us the buy in this leader.
Volume: 3.562M Avg Volume: 2.227M
BUY POINT: $70.32 Volume=3.3M Target=$83.95 Stop=$67.77
POSITION: AGU DN - Apr. $70c (56 delta) &/or Stock
Hi Saleem,
Thank you for sharing your experiences and wisdom so openly. I can easly say that this blog is my favorite place online. Since I started reading this blog and followed your advices my portfolio's performance has changed dramatically in a positive way. Even tough last two week was brutal, I was even on my portfolio ytd. I also thank other users on this blog for their take on the market and sharing their ideas.
I bought 160 MCD and 100 DRYS on friday. My other stocks are,
AET
CSIQ
LDK
AGU
TEVA
What do you think about this portfolio?
Thanks again and have a great weekend.
Hi Rimm,
Thanks for your note re BLOG.
Collectively..we are making this BLOG as a place to visit.
All of us are being aware of many stocks...
I like all of your current portfolio except AET...which I am not familiar with.
MCD & DRYS is a very good add-on.
Saleem
Hi Doug,
Thanks for posting IH alert on AGU.
With this alert ...it will help many readers to think about this stock.
Saleem
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