S&P 500 went to new 52 week LOW @ 1236.76 but managed to close @ 1253.39 ABOVE previous LOW !!!!
Technically markets are "washed out 10 times over"
There is NO capitulation HIGH volume on hitting new LOWS......
VIX is NOT hitting "proverbial 36 area"
So...It is NOT wise to short a "dull market"
In my portfolio :
AAPL rating 25/45 target $187.77....3G iphone goes on sale midnight around the world...lot of excitement on this mobile medium...lot of new games/applications being rolled out by hundreds of independent developers some are even FREE.....3G iphone actually has a button for new application to browse from.......I expect this 3G iphone to be a huge success and AAPL will get tremendous top-line & bottom-line growth......Halo effect for Macs is a GIVEN.......
SOL rating 100/95 target $17.33.....Looks like SOL is just about ready to move UP........
Today many sectors participated in late rally......
Oil stocks were UP
Gas stocks were UP
Coal stocks were UP
Steels stocks were UP
Ag came along for the ride also
Gold stocks were UP
Mining stocks were UP
US Solar rocketed UP...Chinese solar were barely green except for strength in LDK......
Select techs showed strength also.......
So...who cares.....that financials tanked AGAIN !!!!!
Looks like markets are "on the verge of a MAJOR RALLY"
BLOG does NOT give buy or sell.
Saleem
6 comments:
Saleem,
Just drop an appreciation note. I have been holding tight in this tough market and regularly visiting your blog for the direction. I am really appreciated what you have been done to help. Your analysis is very thoughtful and directs us to fight this tough market. Please keep doing the excellent work.
Michael
Hi Michael,
Thanks for your appreciative note.
Sometimes experience comes in handy to interpret tough market like the one we are facing.
It is always my pleasure to be of help to anyone who cares to come to my BLOG.
Better days are almost HERE!!!!
Saleem
lately, you will see that we have been selling off on thursdays, but not today... so it looks like, today might be a turnaround thursday instead of a terrible thursday... it all depends on GE tomorrow... good luck to everyone...!!
Hi Troy,
GE will come as/better than expected.....
Markets will have a big relief rally.....
Saleem
SALEEM
Looking like a down day today!
My VISA is hurting, AAPL looking week here, I hope J Cramer Lemmings do not follow hi advice and sell AAPL and buy AT&T. APPL has gotta rule. Look ahte long line of people ready to Buy Buy
Hey all, get some Natural gas plays and some shares of a driller
Example: PX, GMXR, CHK, SWN.. I own HAL the best of breed in the big boys!
You need a tad of diversification
Good Luck all
Hi Madmax,
Oil is all-time high....
FRE & FNM @ all-time LOW.....
All Indices heading towards 52 week low.....
Yes....Oil/Gas/Gold will shine !!!
Saleem
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