Markets are trying to form a "double bottom"........
There is lot of negative news to push the markets "lot LOWER...than what it has done so far"
1316.75 is the low on S&P 500 so far today......compared to previous low of 1270 intraday......
Markets "seems to be ignoring double barrell negative of CSCO & WMT"......
CSCO being a leading tech guides down to 10% growth vs expected 16% and sees "slowing economy in US & Europe for 2 Q "
Whenever markets takes negative news in stride...then it is giving a "signal that negativity is overdone & markets has already discounted slow growth in economy"
Todays close should confirm this thesis...I hope !!!!
In my portfolio :
All stocks are showing red.....worse being MA so far......
SOLF is the only stock which wants to go green in a "hurry"
Portfolio remains...AGU,CMED,CSIQ,LDK,MA & SOLF.....
Solar stocks are being sold off again.......
Solar stocks seems to have found their "support @ todays low...and they want to improve with an improving market...I hope !!!
@11.26 the following are green :
PMCS,SIRF,GS,NMX,NYX,ICE,YHOO,IGT,WYNN,BIDU,LVS,
SPWR,WFR,SNE,AMZN,DRYS,GOOG,AKAM.
Markets are looking stable even in a negative mode.....giving ME lot of confidence NOW !!!
Please know your stocks well FA/TA wise...as there is lot of noise against all sectors.
When "noise is cranked UP & becomes unbearable...then you can tell that bottom is @ hand...imho
BLOG does NOT give buy or sell.
Saleem
13 comments:
SALEEM:
Good afternoon,
The market seems poised to got up as it has been way over sold,
I saw a lot of discussion on CMED MB that solar stocks may have had their day and are not a good play with energy droping.
Can we really be that short sighted.
DO you think SOLAR will go up again?
the best to you and your family
Madmax
Hi Madmax,
I replied to you in my previous post...so please read that post reply #16...
Yes...solar will be green today...they all have found bottom today....
Money is always made with PATIENCE & CONVICTION......
Your RIMM is looking very good !!!
Saleem
SALEEM
thanks for your fast reply.
I am so happy RIMM is green and mean!
SMILE
I had thought that it was linked to AAPL, but apparently not so!
RIMM target is $104 I sure hope that the market lets it fly up there. I still think that we will close green today!
Please be careful in the snow as it can cause you to have a heart attack. So watch your self.
The best to you my friend, in DC it is 60 degrees today
Madmax
Hi Madmax,
Thanks for your note.
Actual temp in toronto is 12F & with chill this AM it was 6F....
For a 62 year old...i like to stay active..so do my lawn mowing & snow blowing with great enthusiasm...to the surprise of my wife....
I am the first one doing snow removal..mostly with shovel unless it is heavy like 3 foot of snow today..then I use blower !!!
Markets are looking very stable !!!
Saleem
SALEEM
Congratulation's on your good health!
Not every one over age of 60 could do out door work like that! what other things do you like to do? I had head and neck cancer and have been in remission for 6 months. I wrote a small paper on my survival.
It was not easy at all.
The market is showing enthusiasm today --hurray
Madmax
Hi Madmax,
It will be nice..if you could post the jest of your paper re your health.
I walk for 31 minutes everyday after my dinner @ 5pm each evening.
My weight stays @ 190 lbs this way!!
Also have light breakfast plus one dinner...NO lunch !!!
Saleem
Hi Saleem, Well like I mentioned to you yesterday, I did add CMED to my portfolio. Cost 47.60. Thanks for the heads up on getting into it. I followed along as I also noticed it holding well in poor tape. Best wishes to all on the board.
SALEEM
I would be glad to forward it to you via email.
Try to reply to mine if your care to:
madmax_194752@yahoo.com
Thanks for your interest and reply. It seems that you are taking good care of your self and that walking is just great exercise.
Madmax
Hi Doug,
CMED add on is a very good move.
Markets are still unsure...what it wants to do.
Saleem
I'd like a refund on my stocks. Does anyone know where the customer service department is?
Only one good stock for me today - WM. However, i'm still underwater on it....but can almost see the surface. Hope the undertow doesn't get me tommorrow (again)!
Hi Bruce,
All of us are looking for refund...especially in LDK....
Friday is another day...hopefully a positive day for all of US.
Saleem
Hi Saleem,
I wonder if we might be forming a trading range? Back in the 90's there was a 1000 point range, up and down, up and down it went all year long. It was great. Easy to predict and ride. Ft. Lauderdale was a nice sunny 80F on the beach Tuesday.
Standards
Hi Standards,
I think the range will keep narrowing with upward bias...
11600...12800..last run
12100...13300...current run
12600...13800..next run....
14000 will be a major resistance
12800 will be the-support...imho
I HOPE it plays out this way !!!
I am a Taurus...always optimistic !!!
Saleem
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