Advance decline ratio favoured decliners by 2 to 1 on both NYSE & Nasdaq....
This IS a normal pullback which may extend into Friday .......
In my portfolio :
I did a covered write on my CMED position as I could NOT pass UP $4 per share premium for 7 weeks.....so I wrote April 55 call...this puts me ahead by almost $2 per share instead of being down $2 per share...not bad for a dull Thursday strategy...If i get called I make $3 per share...if it stays in $55 or lower...it brings my cost down to about $52.......thought I do something different !!!
CMED rating 35/45 target $57.20
CSIQ rating 100/100 rated for a "breakout" @ $20.36 for a target of $23.88
GS rating 65/75 target $190.48
LDK rating 60/70 target $33.07
RIMM rating 0/30 target $113.15
In other stocks:
SNE rating 20/30 target $51.09
COIN rating 15/30 rated for a "breakout" @ $13.08 for a target of $15.64
AGU rating 40/30 rated for a "breakout" @ $76.61 for a target of $83.34
SNCR rating 60/100 rated for a "breakdown" @ $15.97 for a target of $12.41 ..If NOT 1st target is $20.12
Why do I "highlight other stocks".......because I am always looking @ these very closely for possible purchase...subject to tape action !!!!
I am sure some of US are breathing a big SIGH of relief that LDK did NOT go down today in a very bad tape when every solar stock I follow was down.....some were down BIG like FSLR down $12.43,STP down $1.31,JASO down 71 cents.......Also noted that LDK is NOT rated for "breakdown" anymore......
AAPL had great two days back to back Up $11 in 48 hours...
CTRP had blowout ER jumped $7++ gave a big push to SOHU & FMCN
Friday is end of the week & end of the month......so maybe a "black cat day"?????BLOG does NOT give buy or sell.
Saleem
18 comments:
SALEEM
I am impressed by getting coverd calls. How astute!! That is one sure fired wasy to cover all bases
I like it. I did not have enought $$ to but more that 1 call so it is not worht it.
Good luck on hte CMED calls. I have not had luck with options
Madmax
Hi Madmax,
The covered write was based on overbought conditions of CMED...so have a good chance of keeping all $4 per share.....
Will see how it goes !!!
Saleem
Saleem,
Thanks for the advice today on keeping track of overbought conditions...I think I did the right thing by not buying with margin $$$. I tend to overexpose myself too often. If you have any opinion regarding DSX, I would appreciate your take? Have a good night Saleem.
MADMAX,
Just a heads up, that I bought into DSX ahead of IH buy target. They dropped it today from their watch list. I am going to watch it closely tomorrow. Here is their take FYI:
DSX 02/22 Rev HS 29.20 -0.74 32.22 41.95 941K 3.5M 30.88
Buy Not Hit. Dropping. Gapped lower to the 50 day EMA. Will watch it and if it can regroup we will put it back on.
Hi Doug,
I looked @ DSX...chart is @ a dangerous crossing of 200 DMA MAR move HIGHER than 50 DMA...which is NOT good..technically speaking....
Downside risk in DSX is $27 area..which MAY go to $26++
But.....the target by stockcharts.com IS still bullish of $42...which MAY too optimistic...
This sector is NOT behaving well technically...no matter what the thesis maybe about higher shipping rates.....
I say there IS much better trades in IH world.....
All imho
Saleem
SALEEM
GOOD Morning my Friend!!!!!!!
THanks so much for you reply to my message.
Do you relley think my DSX buiy is that bad. I know htat I am a believer in it and perhaps that blinds me to the bad news. I have also bouight some DRYS I liked the off shore drilling rigs that they bought. We will see if I am in the clover any time soon!
DOUG
Thanks so much for the IH forcast--I appreciate all comments. Can you explain all the details that IH provides -- I get lsot in -.74 32.22 etc
thanks in advance
Have a great day
Madmax
Hi Madmax,
Doug wanted my opinion..& I had to give him my view....
You have to play your conviction.
I am NOT right in every take.
Saleem
SALEEM
YOU are the best of the best friends that I have, and I appre4ciate your honest opinion all the time--thank you for all that you do!
I am looking to maybe get some AAPL today
I dunno if CMED is a hold here or if I should sell today and take a slight loss--153 shares at $56.30
Any suggestions.
I relly had hoped that RIMM would have held on to it gains a lot stronger yesterday, not! The market is in a funk!
Madmax
Hi Madmax,
CMED is going to go sideways to down in short term.
I MAY buyback my call today & then sell CMED.
RIMM will be fine ..as of last quote I am down 26 cents....
My OPINION is just an opinion in a maze of opinions.....
I always give reason why.....sometimes FA rules & sometimes TA rules...we all need to understand that......
Saleem
MAX,
DSX 02/22 Rev HS 29.20 -0.74 32.22 41.95 941K 3.5M 30.88
Buy Not Hit. Dropping. Gapped lower to the 50 day EMA. Will watch it and if it can regroup we will put it back on.
max here is the explanation:
$29.20 current close price
$32.22 buy point
$41.95 Target
$30.88 stop loss
3.5M volume they want to see in order to buy
Hope that helps. Doug...
DOUG
thanks so much for the help
It made a big difference-thanks
Is IH making you $$$, or is it a scam?
Plz take no offence--Is IH expensive?
Madmax
MAX, you can ask Saleem about IH as well as he is familiar with them. They are not a scam at all. They consistently make me money. Their TA is strong. They provide nightly guidance as well as email alerts during the day. Cost is $147 per month. Best wishes.
Hi Madmax,
IH is the-best technical based outfit I have seen.....
They give you the-best choices from a base of about 40 changing list....DAILY
But...it IS for daytrader types...take the money & RUN.....because all their picks are HIGHLY VOLATILE.....
Worth way more than $150 per month they charge......
Doug is in good hands with IH !!!
Saleem
MAX,
I dont want to sound too unbalanced. Just like any stock plays, sometimes they get it wrong and stop you out but it is pro guidance and at least they do stop out if there is a broken trend... All in all I like em alot!
Saleem,
Agriculture stocks look to be holding up pretty well. ADM is looking strong. What do you think about today being a good buying opportunity for setting up next week? I would like to get back in synch with "by low sell high"!!! Thanks for your thoughts. p.s. I wasnt coming over the top of you on posting regarding IH. We were typing at the same time... LOL...
Saleem,
a day trade opportunity might exist with TRA as it has been selling off hard in the a.m. and making comebacks each day for the last couple of days. Just a thought.
DOUG
I like ADM.
Stockcharts likes em too.
There target is $51. It looks like it has room to run up form here.
RSI is 62.57 go for it
Good luck and thanks for your kind words about IH.
Madmax
SALEEM
It seems that CMED has weekness here.
I dunno what to do. 10% down already
WHo is dumping that many shares?
Damit, it was not that bad for earnings report.
What to do
thanks
Madmax
Hi Doug,
Yes...buy whatever you like...
Good day to buy LOW...
Saleem
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