Markets do NOT have traction YET......
Market closed LOWER AGAIN........
AH CSCO disappoints in forecast of economic environment......
CSCO is calling current economic environment "challenging"......
Futures pointing to a 1.5% decline.......
In my portfolio :
Sold AAPL AH for a loss of $13.22 per share.....based on CSCO outlook......technically AAPL is rated for a "breakdown @ $118.86 for a target of $106.70"
AGU rating 55/95..target $66.73
CMED rating 45/90..target $52.26
CSIQ rating 55/100..rated for "breakout" @ $19.66 for a target of $23.05...
LDK rating 45/70...target $40.26
MA rating 55/45...target $215.48
SOLF rating 70/100 rated for "breakout" @ $17.09 for a target of $20.62...
My portfolio is :
AGU,CMED,CSIQ,LDK,MA & SOLF......
In other stocks :
VMW was green 4th day in a row......
WFR was green.....
CIEN & JDSU were green on blowout ER, margin improvement & guidance by JDSU.....
EZA etf of Brazil was mini green.......
Markets MAY try to regain its footing after initial selloff......which WILL be a good thing....bottoming process is always very painful & drags a long time......
Please maintain your comfort level in this troubled economic environment.....
Markets and stocks hates uncertainty & afternoon Fed speak did NOT help the matter....
BLOG does NOT give buy or sell.
Saleem
17 comments:
Hi All,
So I go away for a few days and see what happens?? My trip was to W.Palm Bch, Palm Beach and Ft. Lauderdale. No signs of recession there. 1700 cars rented in one day at the Lauderdale airport wow! very busy! Walt Disney see no sign of slowdown. No one dropping like flies from hunger either. Locals say only realestate is having problems. 20+ million dollar homes for sale. The mega rich are moving north to Stuart Fl. More room to grow I suppose. Condo development has dropped off. Everyone else employed and doing well. Traffic galore. Went to Alabama too, all is well, no recession there either. Let me know if anyone finds one.
Standards
Hi Standards,
Thanks for your eye witness account of US economy....
Markets are in terrible shape.
Everyday stocks are going down,down & down.
Saleem
Hi Saleem,
The market is in its own little world. Walk away for a few days. All this drama, all this turmoil. WTF?
Bein Stein is right, hedge funds are moving the market right now, stocks are on sale, buy the best. In time you will be rewarded. I see you have moved back into CMED. This one looks like a real winner.
Standards
Hi Standards,
Yes...CMED is a good one.
I actually missed not being in it...would have saved me lot of grief.
I am trying to figure out this unpredictable market...& what strategy to implement.
Saleem
Another super day in the market..NOT!
Based on the tape and gut feeling, I will be holding my positions for the foreseeable future, as I believe trading out and buying "replacement" stocks will be a losing proposition.
It appears that all stocks are more likely to go down than up (RISK>REWARD). I'll stick with my current poison, as I know in time they will all be winners.
I think the only other alternative strategy would be to sell all positions and just sit in cash, and then just wait until....???
Standard,
I have lived in South Florida for nearly 20 years. I am not a visitor going to recreation areas.
What locals were you talking to? Were you at Mara Lago visiting the "Donald"? Proabaly not as even he knows the economy is soft. No offense but....cut the fairy tales, my friend (as John McCain would say).
Hi Bruce,
NOT a pretty picture @ all.
I am NOT sure what strategy will be the BETTER one.....
I may reduce my exposure.....
Saleem
ALEEM
I see that you sold AAPL
and AKNS...
Is AKNS a bad hold or did you just want to free up some cash.
Con graduations on CMED--IBD has had very good comments and it ranking is the best!
I am rethinking my portfolios today I bought RIMM to early, it has dropped 6 points foem my buy point-ouch!
Gosh, nothing is safe.
STANDARDS, I do not know where you live, but in DC we have a very soft real estate market, and prices are way down from year ago levels!
Good luck to all
madmax
I have the cure for all of your market positions.... I will sell all my positions and then and only then will the market turnaround and soar....
Just a little humor in a humorless market.
Best to everyone.
To Bruce and Others
I only report what I see and the people I talk to. The people I put questions to are normal every day folks who see what is happening. Retail salespeople, waitresses, garage mechanics, etc. I do not ask high end people as they are shielded by their wealth, etc. I live in Atlanta, we do not have the housing problem other areas do. Do your own investigations.
Standards
BRUCE
that was funny!! Keep up the humor in a market that is sucking eggs
smile as we have got to turn around soon, we are way over sold.
Cheers
Madmax
9:57am On my Level 2 portolio and watch lists, all I see is RED, RED and more read. LOWs LOWs and more LOWs. Sheeeeeeeeeesh!
Just have to tighten my seatbelt and pull out my barf bag!
I'll write back when one of my positions turns green....may be in August.
10:00am At the risk of jinxing myself...my WM is green.
brutal market.... we need someone to start pushing the good and real news... this is all controlled by hedgies...
how is solar tied to oil and to recession.....
Troy,
A possible link is if the economy slows down, the demand and price for oil goes down. The short=sighted general public pays lower energy prices and their demand/urgency for alternative energy solutions wains, leading to falling solar stock prices, as we "no longer" need to worry about high energy prices and its correponding national security implications. Simply put the average person has the horizon almost to the end of their nose.
Hi Madmax,
Sorry for the late reply..had to deal with 3 foot of snow in my driveway...
It took me 1 hr & 45 minutes to remove with a snow blower....
AKNS..I sold because I did NOT like its tape action in 4 days of RUNUP.....
I feel more confident with SOLF which I added.
AAPL tape is WEAK......
Cannot afford to sit with dead/declining equity.....
Saleem
SALEEM
Please be careful while out doors.
It must be so cold in Canada.
Here is DC it is 65 degrees. Must be global warming
Madmax
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