Markets are reeling from a horrible ER from GE......7 cents miss in this market is inexcusable..when affirmed mid march......
Michigan survey of consumers hit 26 years LOW.......
Add the two together & we have a very disturbing mix of negatives......
Today's negative news is NOT timed right...because investors/traders were feeling comfortable with this market.......????
How all this will hit "investors confidence"......
Today's CLOSE will give us the real strength of this market !!!!!
After 110 minutes of trading we are down 1.39% on NASDAQ........
This was a 2X4 hit to the market today.....but the reaction so far...looks CALMER than expected......
In my portfolio :
Bought ICO a coal play first highlighted by Oppenheimer's Carter Worth 2 weeks ago as his favourite coal pick and pointed to chart as very strong.....so today it was highlighted by IH as one of their possible 6 entry stock....if it goes to $6.98 then it IS a buy.....I bought @ $6.70..thanks Doug !!!
My portfolio is BRCM,ESLR,ICO,RIMM,SEED,TOL.....
BRCM down 13 cents
ESLR down 31 cents
ICO UP 5 cents....I am UP 14 cents
RIMM down $2.86
SEED down 10
TOL down 24 cents
@11.31 AM the following are green :
TSL,LDK,SPWR,CSIQ,C,SNDK,FMCN,POT,MA,QID,DUG,SDS,DXD......
BLOG does NOT give buy or sell.
Saleem
18 comments:
Hi Saleem,
I just bought a small position in ICO @ $6.74. If it begins to break out, I will add. I thought I would go along for the pre buy ride. LOL. Best wishes in a horrible tape.
Hi Doug,
Just when we thought...things are looking better.......
GE gives us the JOLT.....
ICO looks very good!!!!
Saleem
Are you considering adding to ESLR at this $10.50 price? my cost basis is $11.20. Thanks for thoughts.
Hi Doug,
I have a tendency NOT to add but buy different stock which IS on sale.....
My cost on ESLR IS $11.70....
Still like to be diversified...this allows me to trade and book some profit.
But...if it suits your trading style...you should ADD NOW !!!
Saleem
looks like the hedgies are shaking the limbs trying to get the low lying fruit. Why not! They have the wind to their backs in terms of the fear factor being amped up. Typical that they would take advantage of the momentum. They are the ultimate opportunists. Souls of ice but they know how to make money! I sold SSO in pre market but I kept QLD. I am hammered. I just added RIMM and AAPL. Hope next week is better!
I am ESLR, QLD, ICO, RIMM, AAPL and ASIA.
I just sold AAPL for even. Too much tech exposure so I reconsidered. Gives me some cash to have on hand too.
Hi Doug,
I sold ESLR for a loss and bought AAPL where I am losing already...
Looks bad for close !!!
Saleem
Saleem,
This is funny. I doubled down on ESLR @ $10.33 and sold AAPL. You sold ESLR and added AAPL. Its a crazy world. LOL.
Cramer comes on screaming "don't buy tech". My gosh. Yeh don't buy RIMM or AAPL when they are both ready for breakouts just around the corner. The tv folks are sooooooo crooked.
Hi Doug,
Cramer IS a great contrary indicator.....use him all the time for doing the opposite.
I hope we get a bounce by close....that will be NICE !!!
Saleem
DOUG
AAPL will close higher that $147, IMHO
THe floor is in.... Smile
My LDK is green
Si total market is not all bad
Good Luck amigo!!
M
Saleem,
I cant beleive my ASIA jumped up 4%today. That was really helpful to minimize the damage today. Our OCI stood up well too. Looks like the little stocks snuck by today.
Hi Doug,
ICO helped me also.....
Bought AAPL again to bring down my cost......
Great move by ASIA.....
Saleem
good job on adding AAPL Saleem. You got a great price for the next move up. I am happy with my RIMM purchase. I have been missing not being in it, thinking that it was going to take off without me. Now I just hope that the world economy doesn't go into free fall. I want this to be just a bad day and not a bad trend.
MAX, have a nice vacation!!!
Saleem,
I forgot to ask you: I am thinking about adding SSO after hours for Monday, what do you think? Is there more pain in store for Monday or is the trading range knocked down enough to bring MM's back in buying on Monday?
Hi Doug,
SSO is a good strategy for monday..
Markets go through these selloff due to extraordinary events..like a shocker from GE...which nobody expected.....
I am looking for a very "green day on monday"
Volume on this selloff was very low...which IS a good thing !!!
Saleem
Guys, just a suggestion, I recently started buying options, mainly puts as a hedge to the long positions and it has helped me a lot..I had bought IWM May 70 puts yesterday and it returned a great profit today... even though with 250+ down day, I was dark green... something to consider... this might not suite everyone, but no harm in making money in any market conditions....
I have some more puts, and it really helped me a lot today, something to consider
Hi Troy,
Thanks for your put suggestion...
Just like stock buying...if you can list your put buying with name of stock strike and price paid...
I am sure it will give ideas to those who want to benefit from your option expertise !!!
Saleem
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