Markets gave up all of yesterdays gain.......
Markets were affected by mini overbought condition & testimony by the biggies.....which were less upbeat than expected....
So lot of nervous traders booked gains by selling.....
Tape these days will be news driven...especially on any confirmation that things are still BAD in economy.....
In my portfolio :
AGU rating 45/30 target $70.58
CSIQ rating 30/30 target $24.79
CMED rating 50/30 rated for "breakout" @ $53.44 for a target of $58.59
LDK rating 70/85 target $40.44
MA rating 50/80 target $218.47
SOLF rating 55/55 rated for "breakout" @ $19.04 for a target of 22.98
In other stock :
WFR rating 25/30 for a target of $83.89
DRYS UP $5+ on ER......
DSX UP $1 in sympathy....
CMG down $15 AH on ER...
BIDU UP $3.41 on better ER but guidance was soft on a sequential basis...
NVDA down $4+ on higher expense for next ER......
GS down $3+..getting close to lower channel.....
AAPL,RIMM,INTC,CSCO,NVLS,LRCX,GOOG,FSLR,ISRG,SOHU,FMCN,
IFN were WEAK ...
Friday is Option expiry.......
BLOG does NOT give buy or sell.
Saleem
13 comments:
Hi Saleem,
portfolio is: LDK, MA, CMED, COIN and SDS. I am hopeful that if this selling continues or escalates, that these stocks will hold their own. CMED has been acting very strong in the face of bad tape over the last couple/several of months. MA is down sufficiently to not merit kicking it more. COIN did stay in its trend which is encouraging. I knew that I was buying after a three day run up, and that had a lot to do with which stocks I chose to enter. In the meantime, the SDS will help a little.
I have as one of my rules: "Don't try to out think the out thinkers". LOL. So, I do what you always say and that is "worry about the stocks you're in, not about the market". I think I picked them right and I do have conviction!!! (thanks to my "conviction" teacher Saleem) I didn't know much about and didn't reflect much on the concept of CONVICTION until I started coming to your blog. I do have conviction about the stocks in my portfolio, and a down draft, whether its big or small, will not sway me from believing that they will be money makers in a short while. Todays action could be nothing more than a little profit taking from a three day run up, and a little adjustment for the pro's at OE, and maybe we will continue the higher low and slow base building from here. Either way, even if it is a test of Jan. lows starting, I am holding good stocks and I THANK YOU for getting me to focus on CONVICTION, which we don't hear enough about in the stock books. Best wishes with everything in your life.
Hi Doug,
Thanks for your appreciative note.
I am glad that you have taken the concept of "CONVICTION" seriously.
In any market condition...it IS important to KNOW & HAVE your OWN game plan.....away from all the NOISE of CNBC & Wall Street.
In the end...your OWN strategy WILL make you money..NOT Fast Money or Jimmy the Cramer...who CHANGES their opinion based on what happened in the market on a daily basis.....
CNBC TEACHES HOW to lose money FAST...NOT a good lesson for anybody.
I do NOT think we are going to test jan LOWS...
We WILL have HIGHER LOWS & HIGHER HIGHS.....imho
Saleem
Good morning Saleem,
It wasnt until I tried to follow my Presidential Candidate, Ron Paul, that it became so clear how "the fix is in" on tv. They did everything they could to pick their candidate of choice for us. Ron Paul was set up to look like a dupe on tv. The questions given to him during debates, would accompany a snicker or attack on him by the people that were just supposed to ask questions but they would tilt a negative on him with a laugh or a camera pointed to someone with a smurk on their face... The problem for Ron Paul was that his opinions needed more than a 30 second sound bite to understand the depth of his thought. Not good for tv. Had they had real debates, that drilled down on the topics instead of skimming the top, I think RP would have crushed his opponents. I do not trust news anymore. It is too obvious that when the media has an agenda, they drive it on all stations. One big concerted effort to control opinions and dominate minds... Some say conspiracy, I say, YES, CONSPIRACY! LOL. Ok I feel better now.
Hi Doug,
You MAY want to read a story in yahoo finance under BX...which came today @ 7AM....titled
Areal estae mogul RISK it all... by fortune
Since you had the good fortune with properties.....this is long but very captivating reading...
When you have 10 minutes on your hand.
Saleem
Good Morning SALEEM hello DOUG:
Seems like avery poor opening is coming Friday is options expiring day
Did you see Fast Moeny last night, PLEASE see it or tape it --It had such a good analysis of solar plays.
The big guy loves CSIQ. ANd one other solar. THe show did state that it still costs to much to make silcon but Germany is pooring money into total solar power. He believes
that this should be a good year for solar, but another panelist said solar had to much of a run already and it was all over. Hmmmm, Saleem the difference of opinion is good for us, as no consensus is good? Hmm
ANy way I own , LDK SOLF, CSIQ DSX GS, AGU, CMED.
Good luck to all as options day and negative reports are driving the market down a lot.
Cheers to all
Madmax
Hi Madmax,
I like your portfolio a lot. Yes I saw Fast Money. The one thing that I have noticed is the absence of the media both printed and tv, to discuss LDK??? Its like it doesnt even exist on many reports regarding Solar. Just my observation but it makes me think LDK is a good stock to be in. LOL... Best wishes today.
Hi Madmax,
Thanks for your recap of solar from fast money.....they also liked ESLR & ENER...
10AM should set the tone for this market after consumer confidence report.
OE was squared off yesterday ..imho.
Saleem
Saleem,
I just read the article. My take away from this is that world bankers/financial elites control all matters of finance and they do it with malice! Ouch. On the positive side, God controls both Good and Evil men, so I leave it in His hands. Its kind of like worrying about the stocks you are in instead of the market. LOL. I worry about the way that I interact with People, pursuing Love as the rule and I leave everything else in Gods hands.
I will tell you that while I owned Apt. buildings, I always felt vulnerable because individual owners can be isolated and stomped out of existence. There was always a looming vulnerability to bigger money than myself. So, after I made big improvements to the buildings and increased cash flow, I was always worried that the City might step in and make demands that I could not achieve, so that their big real estate buddies could push me out and take over the solid turnaround story that I worked so hard to achieve. I am glad to be out of the business. I much prefer trading as it isolates everything down to good decision or bad decision and the chips fall where they may. No outside pressures (other than lying tv.) Best wishes...
Hi Doug,
Yes...FAITH is very important for confidence building and being OPTIMISTIC for future.
Banks,laws CAN derail hardwork in an instant.
You made the right decision in a timely manner.....
See...somebody was looking out for you !!!
Saleem
Madmax,
Just a note to let you know that IH sold part of their position in DRYS to take profits. Sometimes they shift targets, based on market conditions. I just thought you may like to see their action. Here is the email that I just received:
IH Alert - DRYS $86.19 Volume:388K Pct Avg Vol:9% ( Play: Interim Target hit=87.38 (orig 95.95) on buys at 82.04. Taking part of gain on the gap higher on earnings. )
Saleem,
I had 3 year balloon loans, with entire notes due at end of term, unless refinancing could be renegotiated. I did one time, as I was in for 6 years but had I stayed in, I probably would not have received another loan and I would be in a real pickle, based on bank tightening... I do believe that I was blessed to get out when I did. Thanks for the discussion my friend.
DOUG
You must have sold a thet right time
I bought a 2nd home at hte high of the market, now it is 100K below my buy price and we wanted to sell, can not take the loss ya know!
Yes appreciate your info about DRYS, I just knew that they would beet the estimates. DRYS will close up by at least $5 bucks.
Look at the action in DSX, down in price because of options expiring, IMHO. China is driving up the price for dry shipping rates and they are going to new highs - it is NOT to late to get on board for some action.
SALEEM
THanks for the comments about fast money. That show can be full of crap also!
I do try to stay focused on my own stocks and look closely at yours and buy them if I have dry powder.
You are such a positive force for me about stocks. It is so easy to sell complain about your loss and then buy something esle and repeat the process. Thanks for keeping us all on target and for looking at Mocro and Macro picture.
Cheers to all
Madmax
Hi Madmax,
Thanks for your note.
We are all trying to help each other in a very difficult market.
Collectively we have good set of values to work from.
Saleem
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