Finally S&P 500 broke through 52 week low of 1200.44 which was July LOW......
This breakdown in S&P 500 can be taken in many ways.......
Technicians will glee that it IS a breakdown........
Fundamental type like ME will take it as another evidence that FINALLY we are getting to the bottom of this bear market.....
From my understanding any previous low CAN be broken.....but it may go to NEW SUPPORT which MAY be slightly UNDER previous LOW......
Fed is expected to make "market impacting news either before market opens OR @ 2.15 PM".....
It COULD be a TURNAROUND Tuesday by close.......
Many quality stocks are on fire sale..like AAPL,RIMM,POT,AGU,FSLR,ISRG,GOOG......so try to create a strong diversified portfolio...to fight the NEGATIVITY...
BLOG does NOT give buy or sell.
Saleem
9 comments:
WOW
What a market correction
I like your words of wisdom--here is to looking for a bottom in the market and up form here-plz
Me I got some RIMM and FRO - FRO was on sale and if market drops more I'll get some more too.
Nothing was safe today
How does your gold look
Good luck all
Hi C,
I am glad that you followed up on your quest to buy more RIMM.
AIG is the last disaster which needs to be sorted out....then market MAY have clear sailing !!!
Saleem
Hi salim ,all
very bad close and it hammered down more in last 15 minutes. Luckily i sold out BAC friday but hold fwlt .sold with loss .Bought USB but loosig money. I might get out from market for one week.AAPl does not looks good. Seems it will go below 130. Like to see fianacial result .thaxs
Hi Ds,
It IS a tough market.....
Do what feels right......
We MAY be @ bottom TODAY ...If that IS the case ..expect major short covering rally!!!
Saleem
Hi salim
Thaxs for your input.sold out USB in the premarket. I am stupid that i bought USB???Realy stupid.Now no more day trade for one or two week.Let everything settle down. FRO DSX god play for dividend. FRO 12 dollor dividend ????Can they continue giving dividend. good call on FRO.thanxs
DIS
Thanks for comments on FRO adn DSX
DSX is tied to dry goods--they have real long term contracts--and a great track record
FRO is a J Cramer favorite It is tied to shipping OIL
It is minting money Dividend is safe if ship rates get clobbered they divi may get cut--but FROM knows how to play the game and all of Johns Companies mint money. Check out their history!
I am hoping the bottom is in ad for AAPLE I would have though that it was safe--not! It broke all support
Peace to all
Hi C,
AAPL is among the weak tech stock..
Let us see if it holds $135....
Do NOT be mesmerized by dividend...keep an eye on the value of the stock....which where the real equity IS.
Today MAY see capitulation.
Saleem
SALEEM you offer words of wisdom
I am a believer in FRO and DSX DSX is GREED and FRO is fighting back up
AAPLE got down graded!!!!!! My Monsanto is up $4 smackers
We may get a short covering today--Do ya think the FED will lower the interest rates?? If so do we get a floor in???
RIMM is down again some talk about lay offs killing demand--I can not believe that crap
Peace to all and good luck to all
GREEN
The market is fighting back
Way over sold
Look out shorts
Daddy needs a new pair of shoes
Smile
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