Market tape action today has nothing to do with Fed action......
Fed was right on the money with .25% cut across the board.....
Fed also signalled that rate cut MAY be over.....although they remain vigilant.....
So why the selloff from S&P 500 1404.57 to close near low of 1385.59.....????
First lot of traders wanted to lock big gains.....
Second...it was end of the month.....so some hedgies/mutual funds wanted to lock/show gains by selling.....
In my portfolio :
EGO rating 70/45 target $7.61
RIMM rating 25/90 target $136.24
TSO rating 50/95 target $30.99
TOL rating 65/65 target $26.81
In other stocks :
FMCN rating 20/30 target $38.51
NTES rating 25/30 target $23.42
MRVL rating 0/30 target $13.35
Strong stocks were FSLR,MA,V,CSIQ,JASO,GOOG,ICE,LVS,X,ABX,IPI,MON,MOS,POT.....
AH LVS is down $7++ on posting an unexpected loss...WYNN also down $6++ in sympathy
AH JDSU down $1.60++ on ER......
BLOG does NOT give buy or sell.
Saleem
10 comments:
Saleem,
GRMN looks great on paper examining the ER. Solid growth. But got nailed -5 today. EPS $4+ this year. What's your take on this falling knife? Better to wait until we know for sure?
Hi Standards,
GRMN is feeling tremendous pressure on margin...even its rival TOM TOM of Europe gave warning.
I will stay clear of GRMN....
As they say when "when stocks get sick..they die"
Markets character is changing towards tech & other new sectors.
Lot of stocks are looking good on pullback....which are showing tremendous strength.....
Saleem
Hi, salim.
What do you think about , AUY,GEO, PAL, C, XFML ? I like all of them .NTES looks goofy ,lot of selling start abobe 22.50.
thanxs.
Hi Ds,
EGO reports tonight & it is a better gold play than AUY.
C is fine......
XFML ..I will stay away...
GEO ..I do not follow
PAL..is a palladian play...which should be OK...
NTES will break out to new high imho....
I am trader so take profit when it IS there.
Saleem
GOOD Mornig to you SALEEM:
RIMM is green at 7:30 DC time it is a chilly 45 Degrees here.
I like your picks so far-great job on being so nimble.
I hold AGU, CHL, DRYS DSX, GS, HOS my oil services play, TOL TSO and I just added RIMM and NTES I am diversified! Yes
I am thinking that AG will come back and oil services will soar.
The AAPL IPhone could kill RIMM so say some MB members, any thoughts??
RIMM's RSI is a 54, way over sold IMHO
M
Hi Madmax,
Yes...you are diversified except in dry bulk container where you have two.....try to get rid of one and buy gold.....EGO reports tonight.
Death of RIMM has been predicted since the launch of iphone last year.....
Since then RIMM profits have doubled & AAPL profit has been on the low end...so much for Blacberry killer iphone.....
Actually iphone is @ risk as in august BB iphone killer is going to hit the worldwide market...where RIMM has over 350 distributers vs AAPL 4 worldwide...
But...these facts are for serious investor/trader not for idiots on MB......
Saleem
V doing good, upgraded by couple of firms today... add more, or it is overbought?
Any opinion?
Hi Troy,
Highest target on V is $90 by GS.
V tape is very strong inspite of a downgrade by LEH which is saying it has reached their fair value of $85.....
I say...hold your V..but add on any pullback....
Saleem
Hi Saleem,
What do you think of TSO? Will it come back up? It seems hitting new low everyday.
Michael
Hi Michael,
When TSO turns UP...it will be fast & furious.....
Crack spread IS improving.....
Be patient with TSO...it will make you good money if held longterm....
TSO looks washed out NOW..imho
It MAY close "green" today....
I am staying put.
Saleem
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