Bear market bottom was not even challenged today in this mayhem......
S&P 500 went to 1212.69 well ABOVE 52 week low of 1200.44....
I guess.....market bottom WAS reached back in July???
Bear market bottom is always very painful.....
Many test/retest of low area.......
In my portfolio :
Bought OIL.TO...a mid level Oil & Gas exploration play.....cost $11.35
Portfolio is SOL,CSIQ,RIMM,GG,PMCS & OIL.TO
SOL Down 69 cents
CSIQ Down $1.75
RIMM Down $5.16
PMCS Down 19 cents
GG Down 53 cents
OIL.TO Down 63 cents..I am UP 28 cents per share
@ 11.42 AM the following in my watch list is green :
CMED,GOOG,HOD.TO,DUG,QID,DXD,SDS.
BLOG does NOT give buy or sell.
Saleem
7 comments:
hi saleem
i had bought 200 shares of csiq on thursday. i sold 100 shares on friday. i thought monday i could get more since there would be some good news. unfortunately, it didnt work. just holding 100 shares and losing some. we have to be very quick in these types of market. i dont know what is waiting for this week. what is your view on buying rimm since rimm reports this week. usually i always get out before earning report. jut to be at a safer side.
let us hope everything is going to be fine. good luck
steve
Hi Steve,
RIMM reports next week thursday on 25th Sep.....
RIMM ....I am keeping going into earnings....
WHY???
Their product line looking very good!!!
Saleem
STEVE
My .02 Cents
RIMM is all powerful--great phone line up--I expect a beet in earnings
Look at AAPL here too--Just got another upgrade and is clicking on all cylinders record sales on iPod and iMac the iphone is still out selling all expectations Maybe the trick is ti buy small amounts and get a slow build to your target position!
Good Luck Consider FRO here to --pays 25% and is the best oil shipper it is down $25 per share the chart is looking strong here
Peace to all
Hi All,
I still believe in "V". Started at 69 today and rose higher in a bad market. This stock appears to base in the upper 60's then moves up. Reverses direction around 76. If market goes positive this stock may go much higher. Just my thoughts.
Best Regards
Standards
As long as the M in canslim (an IBD term) market is down
Visa will NOT climb--it will climb if market goes up..
I got me a bushel of Visa--holding LT as the story is strong! Earnings are solid and are user fee based not loans. But financials are being punished, Ouch!!!! The good news is Mutual funds are buying on weakness.. IBD gives is a C+ on fund support--good.
thoughts
saleem
is it the beginning of a crash. i dont know . it has taken out the july low. it is so tempting to buy stocks. but i refuse to buy more positions.
so difficult to hold any stocks.
good luck
steve
Hi Steve,
Market IS in the process of establishing a FIRM bottom.
Always go with your comfort level.
Saleem
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