Markets are going through a typical bottoming action in a bear market......
Was today the retest of LOW......
Markets are seeing some overdue positives like:
Crack in oil prices.....
Crack in Gold prices....
Crack in commodity prices....
A real "destruction of gasoline demand" in US????
Ben Bernanke also gave some "soothing words" for continuing credit easing structure by fed....
All of the above SHOULD give a FLOOR to the markets.......
In my portfolio :
Added 20% SOL ...my cost went down to $20.29
AAPL UP 16 cents
SOL down 8 cents
@ 11.26 AM the following stocks are green in my watch list :
GSI,TOL,TSO,RIMM(LEH positive comment),C,CTRN,YHOO,
IGT,BIDU,ISRG,XLF,AMZN,GOOG,GS,DUG,SNY,SGP,BRCM,
SNDK,EBAY,GRMN,ABK.
VMW is Down $14 on Rev warning & CEO departure......
BLOG does NOT give buy or sell.
Saleem
4 comments:
Good morning Saleem, Max and all.
We should see a nice bounce sooner rather than later. Max, PQ reported higher output, looks good. GSI looks like the real deal also. I'm buried in my coal stocks as well as SOL. Looks like a long term hold now. Good trading.
Off to the coast.
Hi Victor,
Your optimism is being shared by markets also.....
Green IS the colour $$$$
Have a nice trip !!!
Saleem
I have been using the VIX as one of my buy/sell signals during this crazy market. My two preferred signals for a buy are: (a) VIX > 30 or (b) VIX bouncing off upper Bollinger band and intersecting the 20 day moving average. Today we ended up with the VIX sitting exactly on the 20 dma. If VIX pushes lower tomorrow, that's a buy in my book.
Pundits are obsessed with capitulation and VIX hitting 30. If you look at the VIX since the internet crash, the event in the past 8 months must have been very traumatic to the new generation of traders and investors that never were exposed to anything like this in the past. If the past swings in Aug 2007, Nov 2007, Jan 2008 and Mar 2008 flushed enough weak hands off the market, I don't expect the VIX to shoot up to 30 anytime soon unless there is some extreme event.
Hi Just,
Welcome to my BLOG.
Thanks for your valuable input about VIX.
As you can see with my posting from AM...I was not looking for any downside.
Saleem
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