Dow Jones had the worst closing down 370 in a long long time ????
Reason......a hurried pullback after recent RUNUP........
So...we already have 50% retracement in 2 days......
It should help clear up...mini technical froth which had developed.....
So...what to expect NOW.......
A rebuilding of base & development of positive sentiments will be the natural outcome....
So what did I do in this crazy freefall.......
Cleaned UP my portfolio to benefit from next RUNUP......
Sold UEX.TO for 10 cents per share gain....
Sold BX for a 5 cent per share loss......
Sold AKNS for a $6 per share loss......
I put everything back in CMED which I bought TWICE today my cost $48.07......
Bought SOLF twice today my cost moved to $17.18......
My portfolio is :
AAPL,AGU,CMED,CSIQ,LDK,MA & SOLF.......
AAPL rating 70/65...target $139.81
AGU rating 65/85...target $66.67
CMED rating 60/45..target $53.47
CSIQ rating 100/80 rated for "breakout" @ $19.14 target $22.33
LDK rating 85/70...target $40.15
SOLF rating 100/100..rated for a "breakout" @ $16.73 with a target of $20.12
In other stocks :
GOOG looked strong
VMW was strong
ISRG was strong
NLY looking good
Please pay attention to technicals of the market & stocks.....you may NOT be able to do something about it ...BUT..it WILL help you to understand the markets & your own stocks.....
It HELPS me in making buy & sell decision even TODAY........
Yes....my portfolio took a royal spanking...but it IS in better shape to benefit from any positive surprise from markets.......I hope !!!!
Good luck on your due diligence...@ least you know that you have the stocks which you have FA/TA/Tape factored IN.......
As you can tell that I have 7 stocks for a reason...in a difficult market NEAR bottom...I like to be in many sectors .....but my heavy focus is in Solar......
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
I was interested in your decision to buy CMED rather than FMCN....I know you have held both in the past. Is it because CMED has held up nicely given the big sell off in the market? Although it was down today, it was down on rather low volume FMCN was down big time on better than average volume. But can one make an argument that FMCN is deeply oversold and has potential for a much bigger upside than CMED when the market turns? Or am I missing something important in the technical. I am still learning how to read the charts and so I appreciate your imput based on your experience.
Thanks in advance,
Ken
Hi Ken,
Always look @ relative strength in a difficult market.
CMED has acted well in the last 90 days in an extremely difficult market.....while FMCN has cratered to near LOWS.....
Also always see which stock is staying above 50DMA....there also CMED is a clear winner.....
Never bargain hunt in a difficult market......
Go with the strong stocks.....
This a good investment phillosophy in all type of market..more so in a tough one.
Hope it explains my rationale.
Saleem
Hi Saleem,
I really liked your repositioning. Looks like your going to make some dough when this market turns. Heres my portfolio: LDK my cost = way up there
VVUS; even
COIN: $9.85
WFR : $71.00 -if market starts to turn around I will add some.
TWM: $79.20
I will obviously sell TWM on a turn up. I may follow you on CMED and SOLF. I want to get some of those Saleem returns this year!!! LOL Best wishes.
Hi Saleem. I have been more trading than usual, to make sure I lock profits. I sold BIDU for a few buck profit (at 267) and re-bouhght at the bottom at 251. 251 was at the 200 dma which it has held support noe 3 times. Sure is a tough market to make a buck. Still don't feel to easy about it, you never know about gap downs in this market.
Hi Doug,
I like the markets @ these levels...as we are making double bottom.....
Once we take off from double bottom ...markets will NOT look back....then it will be more of a normal tape....3 step UP & 1 step DOWN....
I will encourage you to take focus away from ultra short plays...& position in good stocks for long term gain.....imho
Serious money is made..when you are in long position in good stocks.
Saleem
Hi Minnaccess,
Yes..it IS a tough market.....
BUT...it IS giving unreal buying prices.....
I think we have made double bottom already......
Good luck on BIDU & other trades.
Saleem
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