Markets are showing "turnaround Tuesday" tape.....
Oil is down...
Gold is down...
US$ is UP....
Bernanke knows that his real mandate of controlling inflation involves US$ to be strong...so all commodities like OIL can go down as they are priced in US$......Bernanke is articulating that in order for US$ to be strong interest rates cannot go down.......this hint will attract capital flow into US$ based economy where US$ will be heading higher ...so double gain for foreign investors....
In my portfolio :
AAPL UP $1.50
RIMM down 82 cents..GS raised the target on RIMM to $163..but wants to buy shares cheap..so it is addng cautionary note that RIMM may guide Aug Q lower than consensus....which I totally disagree as they are releasing their 3G phone BOLD in that Q...which will boost sales in that Q further !!!!
SOL UP 71 cents.....tape looking very strong when OIL is down !!!!
@ 11.35 AM the following are green :
POT,AGU,SNDK,V,VMW,CCJ,BIDU,SOHU,NYX,FSLR,AMZN,GOOG,
TSL,QLD,TSO,X......
BLOG does NOT give buy or sell.
Saleem
4 comments:
Good Afternoon Saleem
SOL is flying green
AAPL is again down A is QLD and RIMM.
What happen to scare the market?
Any more news about Mother?
Hi Madmax,
Mother is recovering nicely in hospital...thanks for your concern.
Markets took a tumble based on OIL testimony ......worried about SEC changes in regulations.
Will see how it close???
Saleem
Hi Saleem -
Glad to hear your mother is recovering well.
Even with market weakness, I thought there would be a little more strength with Apple due to anticipated announcement on June 9th...any thoughts on this? Any predictions for this week's close?
Thx.
Hi Ad,
Thanks for your note re my mothers recovery.
AAPL behaved well in a very difficult market...down only 73 cents....
I expect AAPL to be near $200 by next tuesday..the day of 3 G iphone$$$
As to the market ..S&P 500 tested strong support @ 1370.12 and survived closing @ 1377.65....so we are all set to go UP to 1400 again !!!!
Saleem
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