Shorts are romping wall street with impunity.........
Why ????
Fed is indulging in talk only.......
Fed must back it UP with aggressive inter-meeting rate cut.....50 basis on fed funds and 50 basis on discount rate cut.......anything less will be a joke...like last cut......
It was very nice to see financials showing green whole day.......
No rally can "sustain"...unless financials tag along.....
In my portfolio :
I added 33% more LDK and my cost went down to $48.11......I strongly believe with my action ..that LDK is the-best idea in solar......now LDK has my highest $ allocation ever...
LDK down $1.49....trade rating 90...1st target $47.68..2nd target $52.01
AGU UP 74 cents...rating 45....1st target $74.44..2nd target $77.29
AKNS UP 57 cents www.stockcharts.com target $38.75
CSIQ down $1.35..rating 90..1st target $24.29...2nd target $26.73
MA down $16.82 ...rating 70....had a confirmed breakdown.... downside target $166.90
MA is deeply oversold based on RSI of 31.08 lowest in 90 days.....if it rallies then 1st target is $190.33...2nd target $202.06...maybe wishful thinking @ this stage........
My stock portfolio was down 4%..but my lucky streak with shorting Canadian $ is picking steam..as Canadian $ tanked 108 basis point against US$ today..which is huge in currency trading.....I will know the exact amount after 8 PM.....but I can safely tell you that my gain from Canadian short has added major equity to my trading account in last 8 trading days......
In other stocks :
SOHU rating 100/100 highest possible...1st target $56.06...2nd target $58.62
AAPL rating 85...1st target $181.46...2nd target $189.82.....
ESLR rating 95...1st target $16.16....2nd target $17.80...also got upgraded today...along with SPWR & FSLR....
CMED rating "breakout"...1st target $53.17.....2nd target $57.53......looking good $$$
By 10AM Saturday I will be posting a list of technically weak/strong & momentum stocks.
Please do your OWN due diligence to create CONVICTION in your stock selection...otherwise you will be traumatized by this market...so buy with confidence and stay with confidence...
BLOG does NOT give buy or sell.
Saleem
8 comments:
We will get the rate cut after Citi's earnings.... so if anything bad comes out in the earnings can be averted by the rate cut...
Hi Troy,
Monday by 9AM...we need rate cut..to give much needed support to the falling markets.
Saleem
Saleem,
Thanks so much for the analysis on your blog tonight. Very helpful to me. Come on Fed with 50/50 NOW, and GS please cover and go long for a little while. LOL... I am truly incorporating your blog into my daily trading action. I still have to pinch myself that I can run issues/strategies by you and get such seasoned and sober advice. I feel very fortunate.
Hi Doug,
Thanks for your appreciation of my BLOG content.
This BLOG is fulfilling my desire to assist many investors/traders.
For me it is a labour of love.
Always my pleasure to answer any questions about stocks,life or whatever.
Saleem
Citi infusion news just out, all the banks are also up AH.... this might be the catalyst for the good rally next week..
AP
WSJ: Citi May Get Cash From Saudi Prince
Friday January 11, 6:49 pm ET
Citi May Get Investments From Saudi Prince, China Development Bank, WSJ Reports
http://biz.yahoo.com/ap/080111/citigroup_investment.html
Hi Troy,
Thanks for posting this news.
Yes...it will help markets.
Saleem
Saleem,
What an exhausting day/week/year..so far! Results for 2008:
Day - <.23%>
Week - <1.26%>
YTD - <4.37%>
As I discussed yesterday, I was looking at Washington Mutual for a possible investment. Pulled the trigger this morning. Bought at $15 and closed at $14.68. Lot of speculation of who may buy them. Wells Fargo and JP Morgan/Chase are the one most mentioned. I think in this current environment a sale is imminent and an approval by the Feds is a given...its just a guestion of who the buyer will be and the purchase price. Only time will tell.
Portfolio:
AKNS - 21.03%
AAPL - 6.48%
LDK - 20.91%
WM - 11.03%
Cash - 40.54%
Everyone have a restful weekend, do your homework because it back to the battlefield on Monday.
Bruce
Hi Bruce,
Your results are way better than anybodys.
I am down overall 11.8%(stocks & short CAD) in last 2 full weeks starting from dec 31st.
This is inspite of the fact that my entire portfolio went UP by 3.9% due to Canadian $ short position.
For me this a bad start for the year.
Hoping that week 3 will start recouping lot of damage incurred in my portfolio.
I will blame it all on Ben Bernanke for inaction...which was NOT factored in my positioning.
Got to blame someone...right !!!
Saleem
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