Market internals were negative by 2 to 1 on the downside.....
Oil euphoria IS dying in a hurry.....
AG,STEELS,COAL,NAT GAS,Base Metals.....signalling a "major downtrend"
Traders/Investors need to adjust to this "new wall street sector rotations"
Solar is displaying a typical bear market tape action......most solar stocks are being sold off & are NEAR recent LOWS????
In my portfolio :
SOL rating 35/70 target $19.73
RIMM rating 40/85 target $129.31
HOD.TO NO TA.....should be UP % wise when Toronto opens on Tuesday.....Oil violated $121 support intraday...sign of oil taking a bear hit....
Fed will announce Interest rate decision & verbage around 2.15 PM Tuesday......
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hi Saleem,
Commodities and shipping took a hit today. I saw some strength in the techs. Keeping a eye out for the next trend to surface. In past recessions, medicals were the first to move up in a hurry. Everyone waiting on FED?
C is showing strength in weak market?
ATL gas $3.76 and dropping. Traffic back to ridiculous levels. Arrrgh!
Hi Standards,
Financials are showing mixed strength...some strong some weak.
C,ABK,MER faring much better than rest.....
SGP,SNY,PFE,ISRG are looking very interesting....
Gasoine in Toronto area is $4.76 US gallon for Reg...I use premium which comes to $5.22 US gln....put only 6 gallon in my Honda Accord last night..i do not drive much !!!!
Saleem
Hi Saleem
PFE has been on a down trend for several years. I took a bath on that one. Nothing good has been happening there at PFE. Lost many many patents to generic firms. Overseas direct mail drugs are killing them. Research is not producing anything worth while. Looks kinda lame.
Hi Standards,
PFE MAY not be the best idea but SGP,ISRG,SNY are worth looking @...
Sorry to hear about your experience with PFE.....some like it as extreme value play...
Saleem
Hi Saleem. I bought FSLR after earnings at 290. It ended yesterday at 267. Think I should hold on or let go. It's getting near my 8% sell rule i usually keep. Is solar being taken down with oil? I don't follow the solar sector as closely as you do. Any help appreciated.
Hi Minaccess,
Do NOT sell FSLR...it is best of breed....
Solar are ready to move UP.....
I sold my Oil bear ETF this morning....as I feel OIL is oversold now....
Saleem
Hi Saleem -
Once again, thanks for your continued comments. I like to keep a little exposure in some of the big, well known (stable) companies so I'm happy to see results from PG today. What are your thoughts on Ag now - specifically AGU with earnings about to come out?
Thx.
AD
Hi Ad,
AG sector is out of favour now....POT had great ER & Guided UP....NO RESPECT from hedgies....
POT is down again today....
On fundamental basis AGU is Nitrogen focussed which IS better than POT which is Potash focussed..
I say ...Sell AGU on any strength wed.....idea is to make money or contain loss.....
Great focus on P&G $$$
Saleem
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