US markets are showing resiliency again...in spite of bad news on new housing inventory.....
New housing prices dropped 10%+++...a good sign to liquidate 9+ months inventory...
US markets are showing every sign that a "major bottom MAY be in place".....
Markets were down sharply after open..dow being down almost 100.....
60 minutes last night showed how bad housing market IS in CA,NV,FL..where people have simply walked out of their homes ?????
Business Week has a front cover headline about "road to recession".......all this is a "sure sign that the worse case scenario has been discounted by the markets"?????
In my portfolio :
As planned and rare announcement of my intention.....I added 33% AAPL @ open ..price paid $128.01...which brought my cost down to $133.28......
AAPL UP $2.42.....
AGU UP $1.52.....
MA down $5.71...
CSIQ UP 8 cents...
LDK down 74 cents...
AKNS down 2 cents...
UEX.TO UP 6 cents.....
PCA.TO down 10 cents....
@11.23 AM the following are green :
CMED,NYX,NMX (takeover by CME),RIMM,DELL(downgraded),AMAT,
POT,TSO,WYNN,WYN,LVS,VLO,ABX,SPWR,FSLR,ISRG,BIDU,GRMN,
GLW (good ER & guidance).
Good luck on rest of the day.
BLOG does NOT give buy or sell.
Saleem
15 comments:
Saleem,
The housing market in Atlanta has not been effected in the least. The sellers will not budge on the prices of new homes. The sales are down, but not the prices. People still want top dollar for their properties. Went shopping this weekend. You would think by the long lines at checkout that it was Christmas again. Anyone else seeing the so-called hard times?
Standards
Hi Standards,
Housing woes are being discounted by the markets.....
When 60 minutes & Business week has caught with lead stories....we probably has or are NEAR worse case scenario....
Saleem
Standard,
From the notes you have left on the blog, you are a very financially successful person and probably are not as concerned about the effect of the housing market and recession, as most "working/wage earners."
However, I can tell you that the housing market in South Florida is extremely soft....definately a buyer's market. I think most wage earners are very concerned about the economy, and who can blame them with the constant recession barrage on TV, radio and the internet. When people are concerned they typically pull back their spending... I believe it will be reflected in the economic numbers over the next few months. Not sure to what extent it's reflected in the market.
Just my opinion
SALEEM
Good day my Friend:
Is is safe to buy more MA at this distressed price.???
Seems that it could be or is AAPL the better buy at this point
THanks a lot
Peace
Madmax
Hi Madmax,
AAPL is better.....because it has already reported and is OVERSOLD.
Saleem
Saleem
AAPL it is!
Some time it is hard to see the forrest for the trees.
It has been really hard to get a handel on market direction let alone an individaul stock.
thanks again for your insight and helpfullness!
Madmax
SALEEM
I THOUGHT YOU MIGHT LAUGHT AT THIS:
http://www.youtube.com/watch?v=SGkrNJ19D...
I hope you enjoy
Madmax
Long VMWare... but nervous.....
Hi Bruce,
I agree with you completely. Can you find me something nice in SOBE?
Standards
Standard,
I'm sure if you came down with some CASH in your hand you could definately find a good value in SOBE.
Bruce
Anyone over here in VMW and nervous, I am very very nervous going into earnings...hope we dont see the same treatment as INTC & AAPL after earnings...
Time to celebrate...my portfolio only went down <.06% > today! Best day in weeks. SICK!
Hi Guys. Not the time to own companies on their earnings day. AAPL, this am MCD, and AH VMW/EMC. VMW beat eps and is getiing crushed AH. Be cautious is my motto. Peace.
feeling the pain bcoz of VMW.... hopefully it recovers....
I agree with Mini...just too much risk to hold ANY stock into earnings in this current market environment.
Fortunately or unfortunately, my portfolio was and is heavily weighted in AAPL. Unfortunately beacuse I got wacked at earnings time...and fortunately because the earnings call is over and I don't have to worry for another quarter. Whewwwww!
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