Markets surprised everybody by being down only to 1256.98 in S&P 500......
Most technicians will be heartened by the fact that US markets showed support in fed latest strategy to help the economy & the markets.......
S&P retest of low CAN be called successful...based on today's close........
Tuesday ...we should see a very green day as fed will be more accommodating with fed funds rate cut !!!!
In my portfolio :
CSIQ rating 55/90 target $20.09
CMED rating 85/45 target $41.97
NVDA rating 55/95 target $19.29
RIMM rating 40/85 target $105.88
TOL rating 50/70 target $20.45
In other stocks :
DRYS rating 55/90 target $69.52
JNPR rating 45/85 "downtrend confirmed @ $24.85" target $22.92...IF NOT 1st UP target of $25.75
Some stocks which were strong AAPL,HPQ,INTC,WFR,GRMN,NTRI,SWIR,JASO,JPM,
DUG,QID.....
Hopefully we will see a much better tape on Tuesday.......
BLOG does NOT give buy or sell.
Saleem
13 comments:
Saleem,
This just in from Fed Funds Futures Watch: they report the CME's Group Fed Watch is saying that consensus is now a full point cut tomorrow (77% of traders expect 100bp cut with 22% expecting 125bp.) They say that market will be disappointed with anything less than 100bp now, but that if that happens, it will help prop the dollar. Will be interesting to see what fed does and how markets react.
Beatrice
P.S. FCSX management finally issued a statement after the close that may reassure investors.
Hi Saleem. The DOW ended up but who made money? All my long term stocks/etf's were down except EWS(down 2.9% for group). My trading account (now AUY, CDE, UPL and DXPE) were down. AUY lost even though Gold had it's first close over $1000 ever. I looked at your stocks, all down. I maintain a list of past and possible future watch list of 125 stocks. Only six were up and and only two up more than 1%. There were 46 stocks losing more than 5%. 10 lost more than 10%. I don't know what this all comes to, but just because the DOW eeked out a gain does not make a good day for the majority of stocks. Let's hope tomorrow is better.
Today marked the 53rd consecutive day that there was at least a 200 point spread in the DJIA intra day high and low. That my friends is scary.
Hi Beatrice,
Fed will make the right move.
Fed does not want $ to crumble any more..because it increases the risk of higher inflation..which IS another fed mandate.
As markets are way oversold..fed decision will be taken as positive...even 75 basis cut..it is the language which will save the day....
Saleem
Hi Minaccess,
Advance decline was terrible yesterday...declines were leading by minimum 3 to 1.....
I could find few green stocks and they were UP 50 cents area..except JPM.....
But today is another day...futures are UP strongly.
Saleem
Hi Troy,
Markets were in a tailspin since Oct......I have never seen such a one-sided trade ever...DOWN was the word......
Hopefully future stat will be as positive.
Saleem
Saleem,
great call yesterday on calling for markets to move up when most thought we would close dow down 300. Just wanted to recognize your work. I bought MA because of your call and will profit today. Thanks.
Hi Saleem. Yeah, GS and LEH beating today is huge for the market. Where was the 3+Billion writedown? Believe it or not, IBD still has a dow rally attempt intact. If the dow scores big gains in big volume, a rally will be confirmed. Nasdaq and NYSE fell below their lws, so the DOW is the one to watch.
DOUG and SALEEM
I second Dougs commets---your positive comments helped buy POT
Yes up $3 smackers in pre - market
thanks
What a mess the market is right now.
Lets hope for anohter GREEN day! Looks very good to me right now
Hurray
THanks all
Madmax
Hi Doug,
Thanks for your appreciative note.
MA is actually benefitting from current economic conditions ...as more cash strapped customers use "master Card is priceless"
Saleem
Hi Minaccess,
GS is upgraded by wachovia based on "uniques credit worthy position in the market"
Yes...markets are looking very good.....
Can we have 400 points UP on DOW!!!
I will NOT bet against IT..imho
Saleem
Hi Madmax,
Thanks for your vote of confidence in my take on markets.....
You have a very strong diversified position.....DRYS ..I like the most.
Good luck today on money machine..you have your OWN ATM today !!!!
Saleem
Hsu's picks aren't doing well right now, that's for sure.
As for PALM, it was selling at 4.56 for a long time pre-market and then just blipped up right now to 5.4 on 65,000 shares. I'll buy if it returns to 4.5
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