Another down day for most indices......
Declining ratio was almost 3 to 1 on the downside.....
This backtracking is fine for a next move UP......
AH VMW & BRCM beat consensus estimates on both Sales & EPS.....both UP sharply AH.....
AH CREE is taking a beating.....
YHOO also down AH......
In my portfolio :
BRCM looking good UP $2 AH on beat on Sales & EPS
EGO rating 100/80 target $8.33
FMCN rating 90/75 target $37.54
ICO rating 15/30 target $ ..no resistance..went to new 52 wk high of $9.49..pulled back with market.....still the only coal stock which was "green @ close UP 46 cents
JNPR No technical read
PMCS rating 0/30 target $9.23
SNDK No technical read
SEED rating 50/100 target $7.21
TSO rating 40/95 rated for a "breakdown" @ $25.67 ..IF NOT then target IS $31.62 ...thanks to highest Oil prices & 8% crack spread...
TOL rating 65/80 target $26.74
V No technical read..too new (IPO)
Strong stocks were LVS,WYNN,MPEL,GOOG,FSLR,STP,VMW,DRYS,DSX,QID.....
BLOG does NOT give buy or sell.
Saleem
10 comments:
Saleem, AAPL is reporting tomorrow, what is your take on it, do they report a huge or they miss?
And what was the 2 downgrades today, is it just to get the shares on cheap before the blowout earnings tomorrow?
I am planning to get JUL 250 calls for .70 or less?
What do you think?
Hi Troy,
AAPL is a great company.....
They will beat consensus easily...
They will guide lower than consensus...imho
Unless AAPL is down another $5 on wed.....AAPL will be sold on ER...
As AAPL has moved UP already & is overbought.....so I think !!!
I will look @ AAPL just before Mac world...when Steve will show off 3G iphone.....
Just my 2 cents !!!
Saleem
Hi Saleem. Another open market day, another day POT hits a new high. I am hoping for a big correction so I can add 25-50% more. I believe POT will be over 300 by the end of the year, but I smell a correction first. For my trading account, I bought SLX. I already have SLX in my long term etf account. In my trading account I now have POT, TITN, HXM, CELG and SLX.
Hi Saleem,
Congrats on the BRCM success. I am happy for you. I fell for the head fake in the last hour and thought that someone knew something and I got spooked, so instead of buying and adding to my position, I sold and am currently singing the blues and wondering when will I grow to have a little conviction. I cant believe that I fell for it. It was like I wasnt even in control of my actions. I just spontaneously and impulsively clicked sell. Selling before ER was never in the plan but all of the sudden I did it. I am shaking my head at myself in disgust but its better than coming on your blog and lying about it. I know the participants on this blog wont be laughing at me but rather assessing what went wrong and hopefully growing themselves,from my pain. Best wishes tomorrow.
Hi Minaccess,
Yes...POT needs a correction in a hurry.....& it should be here before we can blink....
Interesting market we have....stock pickers heaven....
Good luck with your strategy.
Saleem
Hi Doug,
Feel sad for your action on BRCM..
As I have said before..you need to understand to follow IH...they did not stopped out of BRCM..so why did you????
In market ...you need to believe in something like IH...or else your mistakes will compound..which is not good for your equity.....
The way I see it...you are still trying to outsmart IH.....which is not a good strategy.....
You need to follow IH system 100%...whether you agree or not....
You need to buy & stay away from sell button until IH tells you to do......
You need to learn to relax after you have bought any stock....no double up approach...always buy something else.....
All said in sincerity & to be helpful FWIW
Saleem
HI Saleem,
I agree with all you said. Thank heavens I get another chance with another day in the market, to learn to be more controlled and follow IH. Best wishes today.
DOUG
I believe that you once said you use margin?
If so that can cause you to pull trigger with out the use of your head. Becareful w/margin, been there and done that!
Consider oils-BOLT, RRC, ARD, OII
good luck
M
Hi Madmax,
Wall Street is full of tactics employed by Hedgies to take shares away from unsuspecting retail....
It happens in every stock..be it AAPL ,RIMM or LDK.....
The reverse strategy is to create an impression that ER will be great & suck retail into buying @ high.....
That is why it is important to have our own strategy to stay away from unnecessary risky situations.
Not too many retail follow the FA of the stock or the real industry trends...so they are @ the whim of hedgies/MM/shorts....
Booking profit beats any other strategy all the time....& for loss..get out before it becomes too large.....
Saleem
SALEEM
Well said
I have been a victium og MM and etc, lost lot of $$$$ Look at AAPL yesterday, IMHO htat was market manupilation.
Smile
thanks for the focus and your blog
Have a fantastic day
Madmax
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