Markets are trying very hard to find support ......
Markets are given daily dose of negative economic news or major downgrades.....
Inspite of all that...we are NOT falling apart.....which IS a good thing !!!!
Never underestimate the power of a "basing market......"
We are definitely ABOVE january LOWS...& staying there.....
I am using this sideways market to position for next move UP.....
Solar has been beaten down on NO fundamental reason.....stocks are always priced on PE....sooner or later......
With some PATIENCE & CONVICTION......we will be profitable eventually !!!
I personally cannot believe the prices on some solar stocks based on its 08 & 09 earning estimates......I call it "seriously MISPRICED"
In my portfolio :
I added 25% more CSIQ @ open..my cost went down to $26.22......
AGU.TO I did buy this stock in toronto yesterday in Canadian $ down $1.23
CSIQ down $1.06
CMED UP 50 cents
GS down $1.84
LDK down 43 cent....announced a new 10 yr supply agreement with Hyundai starting end of 08...
SOLF down 51 cents....
@11.43 AM the following are green on my watch list :
MTU,AMAT,IGT (new HIGH),WYNN,LVS,NVDA,NYX,NMX,
AMZN,GOOG,EZA,NCTY,GRMN.
Close should be telling inspite of weekend.
BLOG does NOT give buy or sell.
Saleem
11 comments:
Maybe I should do everyone a favor and sell out....the market would soar!!
How much lower can solar and just about all other stocks that I follow and own go, Saleem?
Why is solar being punished sooo severely.. as no matter what side wins the election, an energy independence initiative will commence post-haste....I've heard McCain, Obama and Clinton all mention solar power when giving their ra ra energy speeches.
Hi Bruce,
Solar is being sold off with markets.....
How LOW can it go???
If market recovers by close As I expect...solar will recover also..
Solar IS oversold....keep this in mind.....
As you can see..I added more CSIQ...did I get IN @ LOW...NO....but maybe pretty close.
I say....TOUGH it out....
Markets will go UP with you in the game....
Market has to go UP one of these days.....it could be monday !!!!
Saleem
BRUCE
As htre saying goes you gotta know when to hold them and when to fold.
As Saleem says we need conviction here. I step away form the tape watchiung when I get to disgusted.
LIke most inverstors I am under water on most of my trades.
Also hte market in showing no favorites right now. Look at RIMM up $9 bucks yesterday and now down $2.70 after really good news.
I say relax and in no time the market direction will change.
But IMHO this is not a day traders market. At least not for me it ain't.
Good luck to all.
Madmax
HI Mad,
I agree. It is a very hard market to day trade in. Im finding I have to swing trade a little to make a buck. 2-10 day holds... Conviction is the name of the game! good luck all. I got lucky with CCC today. Hope for a flat to green close, would set next week up nicely. So, MM's will probably confuse the situation today with a little deepening in the selling, just to screw with heads. LOL. I hope not.
Saleem and MadMax,
Thanks for the soothing words....much appreciated.
good suggestion MadMax...regarding the "intense" tape watching.. not good for my mental health.
Oh for the good old days..3Q-4Q 07!
SALEEM
News on AGU
Fertilizer Makers Gain as Doyle Says Crop Boom `Just Beginning'
http://www.bloomberg.com/apps/news?pid=n...
By Christopher Donville and Jack Kaskey
Feb. 19 (Bloomberg) -- Mosaic Co., Terra Industries Inc. and other fertilizer makers gained after Potash Corp. of Saskatchewan Inc. Chief Executive Officer William Doyle said food demand in India and China will boost crop-nutrient sales for years to come.
Potash Corp. is so confident in its long-term prospects that executives considered taking the company private after the stock price fell more than 21 percent during three days in mid- January, Doyle said.
``Certain people thought it was the end of the agriculture story when it is really just the beginning,'' Doyle, 57, said today in an interview in New York with Bloomberg Television. ``We know that our earnings will be much stronger this year.''
Fertilizer makers, seed producers and other agricultural companies are benefiting from a global surge in grain prices that is giving farmers more money to spend on yield-boosting crop nutrients. Soybeans rose to a record today on the Chicago Board of Trade, and wheat touched an all-time high on Feb. 11.
Potash Corp., the world's largest maker of crop nutrients by market value, surged C$5.67, or 3.8 percent, to C$155.02 at 3:59 p.m. in Toronto Stock Exchange trading.
Mosaic, the world's largest producer of phosphate fertilizer, rose $6.18, or 6 percent, to $109.55 in New York. The shares have more than quadrupled in the past year.
Agrium Inc., the largest retailer of crop nutrients in the U.S., rose C$3.22, or 4.9 percent, to C$69 in Toronto.
CF Industries Holdings Inc., which makes nitrogen and phosphate fertilizers, gained $8.51, or 7.2 percent, to $126.68 in New York. The shares have more than tripled in the past 12 months.
Terra Industries, the largest U.S. producer of liquid- nitrogen fertilizer, climbed $2.98, or 6.4 percent, to $49.36 in New York. The shares have nearly tripled in the past year.
To contact the reporters on this story: Christopher Donville in New York at cjdonville@bloomberg.net ; Jack Kaskey in New York at jkaskey@bloomberg.net .
Last Updated: February 19, 2008 16:15 EST
Madmax
Hi Madmax,
Thanks for the AGU related news.
Saleem
CMON CMED BREAKOUT. Just touched 53.48. Go.....
Hi Doug,
CMED looking good !!!
Primed for breakout @ $53.41 $$$
Saleem
Saleem,
Great calls on the market Saleem. I cant thank you enough. Congrats on CMED!!! I had to let it go at the end of the day because I had margin (300 of 500 shares) and didn't want to let it ride over the weekend. Im sure its going much higher but I took a $2.40 gain. Also sold CCC at almost the high of the day. I bought it back .50 cents lower than my sale price and it moved up nicely after. I am LDK, CCC, BABY, CSX.
Hope you have a great weekend. Looking forward to a good ER from LDK and a hopeful move up in the sector for us!!!
Hi Doug,
You are following a strategy which suits your trading style & needs.
As long as you make money.....it IS the right strategy.
Keep doing what makes you comfortable & happy.
Markets profile IS in the process of changing & your strategy will work ..No matter what the market.
Yes ..LDK will have good report and we will go higher....given the negativity.
Saleem
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