Markets are reacting negatively to ISM service sector numbers.....
ISM was "leaked" before its scheduled release time.......
ISM numbers were in recessionary mode.....NO surprise there...as I am expecting slowdown for two Q...Q4 & Q1......
So....the markets are tumbling on ISM excuse........
Why...am I saying excuse.......
Because markets were primed to "pullback after its recent runup"
I always expect pullbacks after any RUNUP......all the time......
This pullback is good for two reasons......
First.....it gives you a buying opportunity AGAIN.......
Second...it brings this "pullback closer to an end"...which will be a RETEST of LOW area.......
It does NOT have to go to LOWS of few weeks back.....
Where markets will TURN from IS a futile excercise...because NOBODY CAN TELL......
So...it IS always WISE to stay focus on your stock picks.....
And some stocks do NOT make LOWS with market RETEST.......
In my portfolio :
I added 62% more SOLF after open and my cost went UP to $17.20.......
SOLF down $1.12 ( No I did not get the absolute Low of the day..paid $17.42)
AAPL down 34 cents...
AGU down 90 cents...
AKNS down 22 cents..
BX down 33 cents...
CSIQ down 42 cents...
LDK down $1.86...
MA down $4.70..
UEX.TO down 26 cents..
@ 11.43 AM the following are green :
GOOG,ISRG,LVS,SNDK,VMW,STX,QID.......
I believe that we have already seen majority of pullback.....so I think......
BLOG does NOT give buy or sell.
Saleem
7 comments:
SALEEM
I picked up RIMM at $89.80 and SOLF at $16.75 all and all not bad buys. Just waitng for the set up to buy agian I think we will find bottom today! Just MHO.
AAPL sure reveresed. NYX nose dived on me, and it had decenat earnings. Gosh this market likes nothing.
Good luck to all
Madmax
Hi Madmax,
Excellent prices you got on RIMM & SOLF.....
AAPL will turn UP with market.
NYX had RUNUP going into ER.
Saleem
Hi Saleem,
LDK got punished today. I am thinking about buying some more around this $35 level. What do you think? Im $10 down right now. Not really worried or anything, just thinking that it keeps holding about $35 every time it sells off, other than when it went down to $31 once a few sell offs ago. Thanks for your thoughts.
Hi Doug,
Do what FEELS right.
Yes LDK has support around these levels.
Saleem
Thanks for the fast reply my friend.
Im chicken. LOL. I do have a little overexposure already in LDK so what feels right is to just hold. Tough day. I have a little help with TWM. best wishes.
Two words only.....BLOOD BATH!!
and a 3rd for good measure....PUKE!!
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