Markets are down before long weekend.
Two data which came out showed weakness in manufacturing and confidence waning.
Both data is part of expected slowdown in economy thus affecting consumer & business confidence.
In my portfolio :
AGU down $1.60
CSIQ down 12 cents
CMED down $1.87
LDK down $1.39
MA down $3.00
SOLF down $1.00
@11.30 AM the following are green :
CTRP,PCLN,NYX,IFN,DRYS,FWLT,HPQ,CIEN.
Close should be very telling...inspite of weekend !!!
BLOG does NOT give buy or sell.
Saleem
10 comments:
Hi Saleem,
Geeese! No wonder confidence is down with the 24 hour a day barrage of negative news stories on the economy thru all the media channels. After a while it becomes self fulfilling. One journalist went as far as to say the 9% yearly growth is India is just not good enough. My NVDA got hammered and they had great numbers? 54% net income increase? Not good enough.
Standards
Hi Standards,
We are on the verge of making a MAJOR bottom in the markets.....
Sentiments are ALWAYS extremely one sided & NEGATIVE....a sure formula for a major upcoming RUNUP !!!
NVDA has been a stellar performer because of ever increasing margin....
Current Q they have some expense..which market was in no mood to go alongwith.....
I say...a MAJOR buying opportunity in NVDA NOW !!!
Saleem
SALEEM
Interesting news about DSX and DRYs shipping rates
) -- Diana Shipping Inc. was among the steepest decliners among drybulk shippers Friday, after it reported fourth-quarter profit that surged from a year earlier but failed to meet Wall Street's expectations.
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Earlier Friday, fellow drybulk shipper DryShips Inc. said its fourth-quarter earnings soared more than fivefold as its expanded fleet was able to capture significantly higher vessel rates.
Jefferies & Co. analyst Douglas J. Mavrinac also reiterated his "Buy" rating on Genco Shipping & Trading Ltd. and Quintana Maritime Ltd.
He cited Genco's large amount of vessels under charter contracts, as well as the shipper's "built-in" growth prospects. Genco earlier this week reported fourth-quarter earnings well above Wall Street's expectations.
Quintana shares, Mavrinac noted, are "attractively valued" as Excel Maritime Ltd. prepares to close its acquisition of Quintana in the second quarter. On Thursday Quintana reported a fourth-quarter profit that fell short of analysts' views.
The Baltic Dry Index, which is managed by the Baltic Exchange in London, rose 143 points Thursday to hit 7,355. The index, which measures drybulk shipping rates on 40 routes across the world, is 69 percent higher than it was a year ago, but is well off an all-time high of 11,039 set in mid-November.
Madmax
Hi Madmax,
It IS OE.....so everything is manipulated to a certain strike price.....
Tuesday will be a different story !!!
Saleem
Saleem,
Not a bad day at all. LDK, CMED, MA, COIN all held up well and I sold SDS for $1.50 gain. I almost bought CMED while it was down but I just decided to see what Tuesday brings. I will have a little cash on hand to be prepared for an opportunity. I hope you have a nice and relaxing long weekend. I am going to focus on hanging out with the family. Best wishes...
Hi Doug,
If you read the line about CLOSE...you will KNOW my intuition101 was predicting a decent close !!!
Enjoy family time...they love you the-most !!!
Saleem
Yes Saleem, I definitely give kudos to you for your read on the market. You nailed it all week. I left room for an "either way" kind of play, which was the SDS. It came in handy for a couple of gains this week. The way that I benefited from your take on "NO JANUARY LOW" test", was to get back into MA, CMED and COIN. I am positioned nicely for a continued move up next week because of being able to place trust in your take. It has always paid for me to listen to folks that know better than I, on many matters in life. I know that we have to risk capital if we want to play too! So if the market would test next week, thats where the conviction comes in to play, which I possess in the stocks I own. Notice how 3 of 4 of my stocks, you own, another testimony to my trust in your judgement. And the 4th stock is an Ag. play, which you also hold! So "either way", I feel really good. Thanks for your blog and sharing your experienced eye. I made money this week, partially because of that.
hi, salim.
SOLF movement is very onfusing. I tried to figured out all day could not. Price movement big up or down for few hundred shares.
what do you think, result will be good or bad. thanxs.
Hi Doug,
Thanks for your belief on my take on the latest "movie of wall street".....
The more things change...they are still the same....
Once you have gone through "bear maul"..one knows how to deal with it....hysteria notwitstanding !!!
I know you are in many right sectors and more importantly in right stocks.
Always go IN with confidence...this way you will enjoy your path to promise land !!!
Saleem
Hi Ds,
SOLF is fine...
Once it finishes base building...you will like the MOVE.
It IS always very frustrating near bottom.....
Saleem
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