Monday, June 9, 2008

Nasdaq is WEAK so far......

Markets are trying to stage a technical bounce....but NASDAQ is WEAK

Oil is down

Gold is UP

US$ is UP

OPEC is saying fundamentals justifies only $80 OIL...rest is all speculation????

In my portfolio :

Sold SNDK...booked a loss of $1.41 per share

Bought MRVL my cost $16.74

My portfolio is BRCM,MRVL,RIMM,SOL

BRCM UP 7 cents

MRVL down 34 cents..I am down 4 cents

RIMM down $1.36

SOL down $1.80....double bottom breakdown on high volume????


@12.14 noon the following are green :

POT,AGU,IPI,CCJ,JRCC,SOHU,FWLT,X,CMED.....

BLOG does NOT give buy or sell.

Saleem
at

6 comments:

  1. AnonymousJune 9, 2008 at 9:51 AM

    Good morning Saleem & Max,

    Max, good call on the oils. I'm still holding NOG(know you don't like) for a swing trade. CAM in oil services is doing well as is GNA in the steels. My MA is taking a beating along with RIMM, AAPL & SOL. Also holding COST & MEE

    Victor

    ReplyDelete
  2. Stocks100June 9, 2008 at 10:06 AM

    Hi Victor,

    We are taking on the chin...thanks to Solar slump....

    Markets are becoming more like traders approach..or else we lose gain.....

    Saleem

    ReplyDelete
  3. madmaxJune 9, 2008 at 12:30 PM

    Victor

    Hello
    AAPL sold off but I am buying more at bargin price!
    the Story for Nat GAs is far from over, look at the action today in DVN, ESV and PQ and RRC,

    My GS took a dump today

    ReplyDelete
  4. standardshighJune 9, 2008 at 1:38 PM

    Saleem,

    V is looking tasty again around support at $82. Yum!
    If GS had not derailed the rally it would have past the $90 mark IMHO.
    Any thoughts?

    Best Regards

    ReplyDelete
  5. Stocks100June 9, 2008 at 3:47 PM

    Hi Standards,

    V will be a good buy around 50DMA which is $76.68......

    GS & all hedge funds are on the buy side on any selling.....retail panics near bottom ALWAY'S..imho

    Saleem

    ReplyDelete
  6. madmaxJune 9, 2008 at 6:24 PM

    SALEEM

    I can only hope that Visa does not go lower from here.
    I backed up the truck friday and it still rolled over on me.

    IBD ranks it very well with an A for accumulation by the big boys. I like the strong close today.... Here is IBD ranking:
    IBD SmartSelect® Corporate Ratings
    Visa Inc Cl A (V) Ratings as of 6/9/2008

    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
    68 95 A- B A
    IMHO Visa shouod rebound as it is over sold

    ReplyDelete