Markets are marching to their own tune.....UP then Down then UP.....
Economic news still is confirming slowdown NOT recession.....
Markets have priced IN recession.....so any news which gives a better/improved economic picture....markets gives a "sigh of relief" & moves HIGHER !!!!!
Markets IS trying to FORM a strong BOTTOM ...& there IS a very good chance that we have already seen the LOW in S&P 500........
As most investors/traders are SCARED of this market and do NOT trust any UP move...this is a very good contrary indicator......
In my portfolio :
BRCM UP 34 cents
CMED down $1.09...technicians NOT happy with its stalled mode...this IS a normal pattern for CMED ..to form a base below 200 DMA on below average volume & then FLY UP on average volume and build from there.....
JNPR UP 40 cents
NVDA UP 45 cents
QLD UP 85 cents
V UP $6.80
@ 11.26AM the following are green :
TOL,LULU,C,DELL,VMW,INTC,CSCO,PHM,CTRN,ICE,YHOO,
AAPL,IGT,CTRP,WYNN,MA,WYN,LVS,POT,NYX,NMX,VLO,
SPWR,ISRG,XLF,SNE,AMZN,IFN,FWLT,EWY,FMCN,GS,
RIMM,NTES,NDAQ,CIEN.
BLOG does NOT give buy or sell.
Saleem
27 comments:
Heard this, take profit on V:
BARRONS: NEGATIVE ARTICLE ON V, THIS WEEKEND!
Calls it badly managed and "blotted" among other things! Monday starts the reversal. And the retest of the $50s next week.
TROY
Do not think it will ever test $50
But in this market who knows
V is a stock htat you buy and tuck away in a drawer.
Or day trade it
could have made $6 bucks per share trading. What ya think
Good luck
Saleem,
I was able to sell my QLD for even and bought again on a retrace. New cost is $65.90. If it goes down further, I will add a little. Overall its a small position. I bought some PRGO with IH as Pharmaceuticals have been lagging and maybe their time is coming in terms of rotation. If the market moves up on short covering in the afternoon, I may add a little SDS for next week. (I would be selling the QLD late today, if we rally in the last hour). Also, I am staying with HCBK and PRGO into next week. If you get a chance, I would like your take on my post. Thanks.
Saleem,
Also just for fun, I forgot to mention that I lucked out this morning and sold in pre market, half of my HCBK position @ $18.25. So my new cost basis is $16.60 w/ 675 shares.
Hi Doug,
I am expecting positive tape next week...if we close near HIGH today.
QLD is a much better strategy than betting on individual stocks.
I do NOT follow stocks which you have bought..so cannot comment but if you trust IH then you should be OK.....
I am having low-blood pressure mode...QLD and chips should do it for me as all my chips are trading near 52 week LOW.....it IS a chicken approach to this basing market.....
Saleem
I love it Saleem. Ok I will forget about SDS for now. I guess I will hold QLD into next week? Yes I do trust IH for the bank and drug companies. Thanks so much for food for thought. Are you holding QLD over the weekend?
Hi Doug,
I am married to QLD until we reach overbought levels in Nasdaq....so it could be 3 weeks HOLD.....
Saleem
Thanks much for your read my friend. I will do just that.
Saleem,
This is kind of a stupid question but I have a small position with QLD. I am wondering if it would be wise to add here or wait? Opinion?
SALEEM
I to like hte QLD play
I am trying to buy at $66 lets see if I fill at that price or is it to late????
the market seems to want to go a lot higher today...
What ya think?
M
Hi Doug & Madmax,
I am OVERWEIGHT QLD...because imho..it is the single best way to benefit from nasdaq going UP...
Saleem
SALEEM
For QLD---Is your hunch sector rotation
Or just a gut fealing??
thanks my friend
M
Hi Madmax,
Please go to MSN moneycentral and read what IS inside QLD...then you will SMILE...all the way to $$$
Saleem
SALEEM and DOUG
I bought QLD
I needed to get the action today
It looks like it wants to got to $67.50 I dunno
WHat are your thoughts
Thanks
M
Hi Madmax,
NOW...you are in big league.....
Think BIG.....NO 50 cents Q....
Saleem
Saleem,
just added more QLD. Thanks for the feedback/guidance.
Hi Doug,
QLD has the biggest movers from nasdaq ..plus it is grosed UP X2.
I cannot think of better way to catch all the high fliers in one single stock..which is priced less than some of its component.
That is why..I can fish some beaten down chips..while QLD does heavy lifting for me.
Saleem
really nice positioning Saleem. Cool strategy. I am happy to be in Q. It is techs turn IMO.
Doug,
I am thinking of subscribing to IH and would like to get your take on their service. If you don't mind, please email me at: candcsail@yahoo.com
I have serveal questions I would like to ask you.
Dave
SALEEM
thanks for letting me piggy back
I too am loving the QLD action. I appreciate your comments as to why we should get some and why it is a good play
Only the nimmble will survive this market..
M
Cramer is Manic Depressive IMO. He goes from panic to buy buy buy in one day!
Hi Doug,
Cramer is exposed to most serious traders.....
He IS irresponsible with his thoughtless nonsense take on many stocks.
Saleem
Saleem,
I took my profit on CHBK. It was just too good to pass up. I just repurchased a smaller position. I am adding more QLD if it retreats further from here. Best wishes.
Hi Doug,
Taking profit IS a good idea based on your OWN needs & objective.
Good luck with QLD.
Saleem
Thanks Saleem. I bought HCBK back @ $18.15 so hopefully it will keep its upward momentum. They don't have a lot of sub prime slime on their books and as with all banks, it was beaten down pretty good and IH has a target of $21.45. But you know I would not attempt to let it run all the way before I would be a seller again. LOL. Thanks again for QLD. It is a great tool just like SDS on the down. You made THE great point though and that is catching all NASDAQ momo in one ETF. Got to like that. I do think its techs turn!!!
As for PRGO, just a safer play with some decent TA going towards its advantage. Have a great weekend. We will be doing the Family big Easter meal and worship... I am totally looking forward to it. I will come to the blog over the weekend and check in. Peace...
Hi Saleem. I am not too convinced on this rally. I lose a lot more money on the 200 down days than I make on the 200 up days.
Hi Minaccess,
In this YOYO market it IS extremely difficult to daytrade and come out ahead everyday....
I tend to rejig my portfolio on a daily basis.....which keeps me in the game.....
I think that markets are ready to "breakout on the UPSIDE on monday"...that will give you confidence to stay IN.
Saleem
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