Futures are UP 8 on S&P 500.......
Futures are extremely encouraging as today IS the start of a new month & new Q.....
In base building mode markets frustrates both "bulls & bears"
New money should flow in markets in this new Q......
UBS writedown & loss is being viewed by markets as the beginning of the end of this sub-prime mess......
UBS & LEH are shoring UP their balance sheet with billions.....good sign for financials as they will be healthy going forward.....
Strong stocks should lead this upswing today......
US$ is strong......
Gold is down below $900....next support is $880 area
Oil is staying @ lower levels
All this should lead to building confidence in the stock market......
Important ER this week are :
MON Wed before open
LULU Wed before open
RIMM after close Wed
MOS Fri before open
Good luck for longs @ open !!!!
BLOG does NOT give buy or sell
Saleem
12 comments:
Hi Saleem,
Thanks for the advice to play in the big movers. Najarian says bullish on RIMM! I am also going to watch QQQQ. Good luck today.
Hi Doug,
QQQQ is a cheaper way to play strength in Nasdaq high fliers...
QLD is double the fun @ 50% higher cost.....
Good luck !!!
Saleem
The old QLD aye Saleem? LOL. Thanks for the reminder. I will add it back to the watch too. I am thinking about reducing my overexposed position a little in pre market. It will bring my cost basis down and get me back to "not crazy" amount of shares. What do ya think?
Sorry, I didn't say RIMM.
Hi Doug,
Today could be a very big payday...
So...do NOT do things based on OLD formulae.....
Today...we MAY be starting a "new leg UP"
So...stay with "overexposed winner"
I am 66% of my exposure in RIMM alone!!!!
Sometimes ..I too live dangerously...what the hell..you get one chance to live...so LIVE LARGE $$$$
Saleem
Hi Saleem. Looks like a good day so far. Media sure likes to focus on "bad" news. Top headlines today are NOT that the futures are up. They are "bad" news on UBS, Lehman, and Deutsche Bank. I am a long-term energy investor. I remember when oil was $50 and CNBC would say it plunged to $48 and saying $10 was a terror premium. Ever few months oil would go up $10 and the headlines were always the same. I remember last years prediction that oil would hit $100 and everyone said they were crazy. Now oil is 100.18 and again thay are saying oil is plunging to $100. What a joke. RIMM sure looking good today
Ok Saleem,
Thanks. I didn't do anything because pre market strength looks good and I was waiting for your opinion. Thanks for letting my know about your exposure. I am in and waiting to get paid!!! LOL. Best of luck today.
Hi Minaccess,
Thanks for your take on Oil & its many predictions.....
Oh...by the way..I found a pure way to short oil through ETF...but unfortunately it is traded ONLY in Toronto ..if you can buy it..the symbol is
HOD.TO it IS based on Nymex oil price......
Oil IS reflecting use & abuse of oil worldwide....so..we MAY have seen the LOW already today !!!
So on tues day I MAY be buying pure ETF bull on oil which also trades in toronto HOU.TO it is based on Nymex price also.....
Enjoy the RIMM ride UP !!!
Happy days are here AGAIN !!!
Saleem
SALEEM
What a GREAT call on RIMM yesterday. Fantastic!
I went back reread your comments--How astute, Doug and I both have learned a lot! :)
I sold my APPL and got RIMM--only 61 shares. RIMM up $2.77 already today in pre market!
My stocks are RIMM, AGU CMED DRYS DSX GS LDK 300 shares and 200shares of QLD. I am stuck with losses in most of my stocks that I own--I am hoping for them to get green once again.
QLD should prosper today and offer a real nice pop. It got over sold last week, IMHO. I do not think QQQQ will run as fast as QLD :)
Good Luck Doug and fellow bloggers
and thank you Saleem.....
Have a great Tuesday
It is April Fools day
Hi Saleem. I don't know where oil is going today, next week or even throughout the year. I was just using that to highlight how the media tends to focus on the down moves. However, the long term trend in energy and alt. energy is up. Growth is back in style today. RIMM, ISRG and POT all up.
Hi Madmax,
Thanks for your appreciative words.
You have good exposure to nasdaq through QLD & RIMM.....
Good luck on a very green day !!!
Saleem
IBD on RIMM:
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
99 98 D+ A B-
Research In Motion Ltd
Symbol:
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Current Price: $114.60
Exchange: NMS
Industry Group: Telecom-Wireless Equip
Overall Rating: (95 = A)
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RIMM is best of breed!!
Go RIMM go :)
Madmax
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