European markets were flying UP today......
The following are the closing stat :
FTSE UP 159 +2.75%
DAX UP 135.12 + 1.98%
CAC UP 90.01 + 1.89%
LDK also trades in Germany on Frankfurt exchange.....here is the detail of LDK trade in Germany :
LD41.F closed @ 23.73 euros UP .75 euro +3.26%
European tape action bodes well for US markets......
Good luck for tuesday !!!
Saleem
19 comments:
Hi Saleem. The futures in US are up(Dow and S&P up over 1%, Nasdaq up over 1.5%) a good bit as well. Oil, NG, gold and all ag commodities are up today as well. Peace.
Hi Minaccess,
Looks like markets are looking beyond sub-prime mess NOW......
You are entrenched in all the right sectors......
There is always light @ the end of correction tunnel.
I am expecting a explosive move UP as all technicians will declare correction is OVER & No more testing of LOWS.....
Interesting time ahead for believers !!!!
Saleem
Saleem, I am still worried about the LDK; look at the buylist which came out on 02/15 and it shows 5 fund managers sold a total of 3,433,382 shares.
Hi Troy,
All the selling is DONE in LDK....
The price reflects relentless selling....
So...whoever wanted to sell have sold already......
The good news IS ...No mre seller left.....only BUYERS NOW....
I am NOT concerned @ all....
If you want to feel better check the PLUNGE on STP on NO bad news..& supposedly NO selling ????
Saleem
Hi Saleem,
Thanks for the LDK info and the response to Troy as well. Just about every stock in the market has been sold off deeply. I mean, thats what happened when the ferocious selling occurred that took the market down so badly. It seems to me that most ALL stocks were deeply sold off. I cant think of more than maybe 10 stocks that weren't thrown out with the bath water. Now it is time to rebuild and I want to be part of that. I would like to see buying volume pick up on all good stocks. I will continue to take profits sooner rather than later but that is more a symptom of my particular situation and not a statement about the market itself. I trust your analysis and I like your call on Solar. I think ER for LDK will be fantastic and thats when I think the conviction to own will be most important as MM's may try to shake loose fruit from the branches one more time. Looking forward to tomorrow.
Hi Doug,
Markets are poised to "surprise pessimist"
Do whatever makes you comfortable based on your situation.
Nobody gets hurt by taking profit.
Booking profit IS always a good idea.
If we can survive this PLUNGE....then rest is EASY !!!
Sun alway's SHINES !!!!
Saleem
LDK - GS Upgrade, this is the news we were waiting for:
#
[LDK] Yesterday 08:15pm
LDK Solar Co LTD ADR Removed from Goldman's Conviction Sell List
#
[LDK] Yesterday 08:12pm
LDK Solar Co LTD ADR Goldman Sachs Raised LDK to Neutral from Sell
SALEEM:
Good Morning my Friend!!!!!!!!!!!
I see a sea of green coming for today Thanks for keeping us on track with solar plays.
I hope and pray that Pakastan elections will remain peacefull.
Peace to all..........
Make some $$$$$$$$$$$$$today
Madmax.
Saleem and all,
I think this is a great article for all of us to read in these trying times:
Source: Yahoo.finance
Take the Bait, Ruin Your Investing Life
by Ben Stein
Email this Page IM this StoryBookmark this StoryAdd to your Del.icio.us accountDigg this StoryPrint this Story Very Good (143 Ratings) 3.482516/5
Posted on Thursday, February 14, 2008, 12:00AM
We're currently in very stormy seas investment-wise. There have been dramatic moves downward on every index I know of. The media is filled with tales of gloom and doom.
In such times, we all need advice on how best to ruin our investing lives. With that in mind, try the following:
1. Panic.
That's right, get scared. Get really freaked out. Let the panic mongers on TV sell you on their points of view.
2. Sell everything you have in the market.
Even if it's at a loss. Even if you were doing great with it until now, sell, sell, sell. Get the heck out. Just dump everything and go to cash.
3. Believe that "this time, it's different."
Yes, even though markets always recover, especially in times of aggressive repair work by central banks, believe that this time it's different and this time the market will go down, stay down, and never come back.
This time, alone among postwar markets, the market will never rally, never rebound, never reach new heights. Yes, this time, things are so bad that stocks will never come back, so sell out and stay out.
4. Believe that the short-sellers on TV are sincere.
No, they're not just trying to scare you into selling to knock down the market so they can make money. They're not just ginning up phony metrics to scare you and make money on their shorts. They're really trying to help you.
5. Trust the major newspapers to know more than Warren Buffett.
Yes, Buffett's the best investor in history, and says to stay in the market and buy index funds. He also says now is the time that stupid money is leaving the market.
But pay no attention to that fool! Pay attention only to some new young gunslinger at The Wall Street Journal or Barron's who tells you it's time to sell. Even pay attention when someone with no investing track record tells you to sell out of Berkshire Hathaway, one of the most successful investments of all time.
No, don't trust Buffett or other "geniuses" like John Bogle. Trust whoever comes across as the smartest-aleck and most glib, "on whom assurance sits, as a silk hat on a Bradford millionaire" (to quote T.S. Eliot).
6. Trust that you can get back in before the next big move upward.
You may have heard that you can never know such things, and that if you miss the first huge days of a rally you can never catch up. But in your bones, you'll know when the move is coming and you'll get in just in time.
7. Buy only stocks your friends tip you about.
Don't buy indexes. Don't buy broadly based mutual funds. Just buy individual stocks you've heard about in your gym's locker room.
Unhappy Endings
I could go on, but you get the point.
None of us is a genius except Buffett. None of us knows when the market will turn. We do know we make more money if we buy when stocks are down. We do know we make more money by patient, ongoing investing.
But pay no attention. After all, your goal is to be old and poor, right? Right! So listen to what the short-sellers are telling you and put all your money under the mattress for 15 years -- you'll be really glad you did.
After all, when did market manipulators ever lie to you? When did slow, patient acquiring of broad indexes ever make a buck? No, believe the slickest guy in the room. And exit crying.
SALEEM
It is all GREEN and MEAN Hurray!!!!!!!
MAJOR WORLD INDICES
* Americas
* Asia/Pacific
* Europe
* Africa/Middle East
Symbol Name Last Trade Change Related Info^AORD All Ordinaries 5,688.600 12:11AM ET Up 54.600 (0.97%) Components, Chart, More
^SSEC Shanghai Composite 4,664.295 2:00AM ET Up 96.144 (2.10%) Chart, More
^HSI Hang Seng 24,123.17 4:59AM ET Up 363.92 (1.53%) Components, Chart, More
^BSESN BSE 30 18,075.66 5:28AM ET Up 27.61 (0.15%) Chart, More
^JKSE Jakarta Composite 2,711.8721 5:31AM ET Up 27.17 (1.01%) Components, Chart, More
^KLSE KLSE Composite 1,425.49 4:02AM ET Up 12.66 (0.90%) Components, Chart, More
^N225 Nikkei 225 13,757.91 2:00AM ET Up 122.51 (0.90%) Chart, More
^NZ50 NZSE 50 3,609.414 Feb 18 Up 7.634 (0.21%) Components, Chart, More
^STI Straits Times 3,344.53 Jan 9 Up 3,344.53 (0.48%) Components, Chart, More
^KS11 Seoul Composite 1,720.52 4:04AM ET Up 24.28 (1.43%) Components, Chart, More
^TWII Taiwan Weighted 8,024.41 12:46AM ET Up 133.51 (1.69%) Chart, More
HEADLINES
Hi Bruce,
Thanks for posting the article by Ben Stein.
I am glad that the message of my BLOG is pretty much in-line with what Ben is saying.
Those who have been around & do their own thinking KNOW the shysters on CNBC.....
All the wise guys on CNBC never divulge their OWN performance for 1 ,2,3,4, or 5 years...you know why ...they NEVER make money in any market......
They are paid to TALK...based on models,charts,graphs.......AFTER the fact.....
CNBC pundits have NO talent to predict future !!!
They are always trying to interpret PAST ....
Saleem
Hello and good morning to all. It is sometimes nice to have a day off in the markets. People get a day to think and you get an idea of the real direction of the market. It will open strong (stocks, gold and commodities). If it ends strong, the direction of the market will be determined.
Hi Madmax,
Yes...the color is "green".....
It pays to be IN the market.....
All those ULTRA shorts are caught with their......DOWN....
Wall street was a guarenteed SHORT play...so the experts said....
Sell the rally...was the-mantra !!
Saleem
Hi Minaccess,
When PESSIMISM is this DEEP....guess what....the-most explosive rally comes from nowhere.
Count the change today !!!
Saleem
Good morning Saleem and all bloggers,
I enjoyed everyones posts this morning. Good luck for a strong close today!
Hi Doug,
Shorts are "fumbling for words"
Nice to see shorts lost for words to explain today's futures....
That SHOWS how much they KNOW....
As I have said many times many WAYS...
"Sun IS shining on wall street"
Saleem
SALEEM
AGU made the IBD lsit of where the big bucks are flowing: Hurray
Potash Corp. of Saskatchewan (POT) climbed 4.01 to 151.95 in fast trade. That puts the fertilizer maker only 2% off its all-time high, established last week. The stock's Accumulation/Distribution Rating has improved to B from a worst-possible E last month.
Meanwhile, Agrium (AGU) gapped up and gained 2.65 to 67.96. It found support at its 50-day line Friday.
Hi Mina,
I thought I would provide you with the latest IH update regarding COIN. I am still in. Here is Weekend update:
COIN 02/04 Test 18 9.99 -0.06 10.38 12.95 371K 978K 9.48
Current. Still waiting for COIN to make us some coin. No issues with the pattern; it is beautiful with its low volume lateral move with solid volume sprinkled in on the upside days. Just letting it work laterally. When it goes, it is likely to go big.
SALEEM and fellow bloggers
Here is some news on hte DSX-dry shippers--GOOD nesws>
http://www.fool.com/investing/general/20...
Cheers
Madmax
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