Markets were in a freefall AGAIN......
NASDAQ lost over 4%......the weakest among all indices.......
Markets are behaving in a bearish manner......
Carter Worth technician from Oppenheimer came on fast money & said that "we will NOT make a new LOW"...it will be a sideways market......he is actually recommending buying stocks whose earnings have gone UP but stock price are stagnant......
On the other hand Jimmy the Cramer is telling his audience to "stay on the sideline"....the only sector he is recommending is Gold stocks...his pick AEM & ABX......
Sentiment on the street is "extremely BEARISH & FEAR is RAMPANT"......VIX went to 34.22......closed @ 33.85......
All of the above IS telling me that we are trading "near bottom" & markets are getting deeply oversold.......
It IS very DARK near bottom.......
In my portfolio :
Sold IPI and booked profit of $4.31 per share.....
Sold FXI @ breakeven......
Bought BRCM..cost $20.84
Added more JNPR cost went UP to $26.22
Added more SOL cost went down to $14.51
Portfolio is SOL,CSIQ,BRCM,JNPR,NVDA,PMCS,VMW......
Please note ...as markets are unpredictable...my portfolio is subject to rapid change...sometimes I sell to buy something which may be on Sale.......
I am broadly diversified based on my understanding of the relative valuation of each stock which I have followed closely for decades......IDEA is to make a "quick profit"...in this very difficult market......
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
No gas in ATL. Stations are all out. No pumps working. I will be using lawn mower gas to get to the office on Tuesday. Any open station is getting hammered and drained dry. Without gas we are in trouble. Something bad is going to happen.
NVDA is a good buy here. They just layed off 6.5% of workforce. 2 Billion in stock buy backs on the board. Problems with bad boards has cleared up. No debt. 2 billion in cash on the books.
Hi Standards,
That is unbelievable...a major US city without Gas.....
I am sure Washington will move fast to restore normal supply.
Just as a routine ..I keep my tank FULL...plus gas for lawn mower & snow blower....
Yes NVDA has seen enough negative news already...time to IMPROVE on all issues.....
Great management of NVDA will resolve all issues ASAP....
Yes that $2 Billion in buyback is a great floor.....
Keep us informed about gas situation in ATL...I still have fond memory of Clark Gable farm dinner outside of ATL...
Saleem
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