Markets are in much stable ground than what Asian sell off would have triggered......
I am expecting S&P 500 to find support today..
So far 1322.08 is the low on S&P 500......technicians would like to see 1325 or higher by close...
I say we have a very good chance of achieving that......I hope !!!
Today there was many downgrades in techs....Internet was downgraded,AAPL earnings were trimmed & NVDA was given $22 target with a neutral rating...so it IS exerting some new selling ......
In my portfolio :
CSIQ trying to show green UP 22 cents..reports wed AH..expecting a beat and good guidance..this is among the few solar stocks that is looking half decent technically speaking.....
COIN UP 81 cents had a "breakout" @ $13.21 currently $13.63..target $15.79...doing very well in negative tape......
GS down $2.62
LDK is being pinned down by agenda driven hedgies,PJ,Barron's ...is down $2.26 on 2 million shares..heavy for 2 hours......I still expect improvement in LDK as it IS holding $26 so far...which is the most recent support area.....so far market is dictating LDK tape...so IF market improves LDK wants to improve also !!!!
RIMM down $2.66 in Toronto.....
@ 11.29 AM the following are green in my watch list :
TKC,TSL,DELL,CTRN,ICE,YHOO,IGT,TSO,NMX,AUY(new high),
VLO,ABX,SPWR,FSLR,FWLT,MA,EZA,FMCN,WFR,JASO.
Good luck on close.
BLOG does NOT give buy or sell.
Saleem
15 comments:
Hi Saleem,
I sold DSX for a loss in order to reposition myself. IH dropped it from their watch list. I am LDK, CCC and a small position in SDS, just in case. I am watching TKC. I saw that you mentioned it to Bruce today and mentioned to me last week, that it is strong. Now I see on your blog that it is on your conviction list. I havent jumped in yet but it looks like a good entry right now. I like that it is a foreign play as I am still concerned about the weakening dollar story. You nailed COIN and I am happy for you.
Hi Doug,
Repositioning is extremely critical when you are facing a stock like LDK which has been in the tank.....
You need other stocks to work....
You also need a stock like TKC which looks great on a chart not broken down chart stocks....
We all can afford only one bad tape like LDK......
LDK so far has maintained its major support in $26 area...which IS good for you & me....
Selling volume has slowed down considerably from the first 2 hours....in last 90 minutes it has added only 450K......
If buying comes IN now or by close LDK should show some LIFE.....
COIN is working out....I have been watching TAPE since your first purchase.......
Saleem
DOUG
Sorry to see that you lost $$$ on DSX. As you know I have DRYS and DSX
and I really felt that it was going a lot higher from here. NOt yet any way.
I like the action on SOLF and SLB.
TKC is kinda low on volume. Seems to have stong tape
Is TKC a IH pick
Please take care
Madmax
Hi Madmax,
Yes IH is in TKC. Here is their post FYI:
TKC 02/23 DB hdl 25.23 -0.89 26.21 30.89 1.1M 2.2M 25.78
Current. May be another buy as it comes off this support at the 10 day EMA after the selling from Friday. Below average volume in the gap with a doji lower late this week.
DOUG:
I can see why SALEEM likes it, read this:
Earnings Per Share (EPS) Rating Relative Price Strength (RS) Rating Industry Group Relative Strength (Grp RS) Rating Sales + Profit Margins + ROE (SMR) Rating Accumulation/ Distribution (Acc/Dis) Rating
95 96 A A B-
this is a good ranking...
competition :
Navteq Corp NVT
Cellcom Israel Ltd CEL
Turkcell Ilet Hizme Adr TKC
Millicom Intl Cellular MICC
Telemig Celular Part Ads TMB
over all ranking is A+ this is also a very good thing pays a divi too.
hope you do well I got no cash to play
Madmax
Hi Saleem,
I hope LDK closes above $25.90 as I understand that is current support. Ouch!
Hi Doug,
I did the impossible ..I added more LDK @ $25.69
Saleem
DOUG
Ouch
Ugg
let cheer ofr LDK nad above $25.90
Madmax
SALEEM
HERE is some IBD news on CMED:
China Medical Technologies (CMED) lost 1.70 to 44.30. The medical device maker's Accumulation/Distribution Rating has fallen to D from B just a couple of sessions ago
Hello. Congrats to COIN holders. I got out last week after a very nice gain. It appears I got out too early, but a 25% gain doesn't happen too oftern in this type of market. COIN has no resistance now. My AUY had a banner day. Good luck.
Hi Saleem and Madmax,
Saleem, I would have moved in tandem with you on buying more shares of LDK. I don't have enough confidence to do it alone as I am an IH dependent child in trading. LOL. I trust your understanding much more than my own, submitting to your experience. I will watch the tape tomorrow and seriously consider adding myself. You know that my cost basis is close to yours. Thanks for letting me know. I wish I would have posted earlier than right before the bell so that I could have moved with you but I know there will be plenty of opportunity to consider in the coming days. I remember you saying that you were a bit overexposed in LDK before you added. I am as well. When you decide to sell in the future, please email me with a heads up because I will get that and read it immediately as I do with all of my IH intraday alerts, if you don't mind. The email would help big time because I read your blog about once an hour ( I keep it open and running all day on my side bar) but alot can happen in an hour, so email will give me the chance to act right along with you. Thanks much my friend.
Mad, hang in there Bro. I am certain that we will see better times with LDK. We are in solid DD hands with Saleem, so lets just keep following the Man w/ years of experience and we will get out of this fine. I have learned to trust Saleem in more ways than just stocks. He is an honorable Man. Best wishes to you both.
Hi Minaccess,
Thanks for your note re COIN...started to monitor ever since Doug had it....and took a good look @ it when you had some issue with COIN.....
AUY is doing great.....hope you have an exit strategy as it is in overbought arena.....
I still keep your nieces in mind with any suggestion...so bear with me !!!
Saleem
Hi Doug,
Overexposed is an understatement when it comes to LDK......as Bruce will say....MUCHO overexposed....
But I said...what the hell...with all my dd...it got to give me some DOUGH sooner or later......
Yes...I will email you only if I sell......
I intentionally did not email you because I was buying...and was not willing to put my friend in MUCHO overexposed situation.....it was very deliberate on my part.....
Saleem
Saleem,
Thanks for considering what would be best for me. I know that you are sincere. I actually thought, at the moment that I read your first reply, that you had reasons for not notifying me, as in protecting me. I am grateful for you.
SALEEM
Good morning CSIQ looks to open green!!! Hurray
Good luck on TKC, as you know I like it a lot
Madmax
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