Markets are on much more "stable ground"than some technicians were ready for......
I will not be surprised to see a firm close......
GOLD & OIL are weak......Gold is recovering from its low.....
Oil looks like it is headed towards $100 where there will be a battle between bulls & bears.....
In my portfolio :
Bought RIMM my cost $104.37.....showing relative strength today...plus it is in the process of introducing BOLD to US.....estimates & targets were reduced yesterday which will help in RIMM beating those lowered numbers.....Targets are still in $190 area.....
Portfolio is RIMM,GG,SOL & CSIQ......
RIMM UP $1.56 to $104.23...I am Down 14 cents
GG Down $1.84
SOL Down 97 cents
CSIQ Down $3.16.....technical breakdown well below 200 DMA
@11.41 AM the following are green :
JNPR,NVDA,CTRN,ISRG,VAR,AAPL,HOD.TO,
DUG,SNY,HPQ.
Solar stocks are breaking down big time with Oil......if oil takes a stand here then Solar MAY find footing.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Many sectors are breaking down. Blood is being let. I'm staying on the sidelines. Nothing is working. No positive news from the media on the economy. NVDA up? UBS put a sell on them yesterday. Hopefully we can recover going into the elections.
Best Regards
Hi Standards,
You are WISE to wait...till everything clears up after election.
Preservation of capital has to be in focus now.
I am playing contra with GG & RIMM still green on a bad tape....
Solar has collapsed....will it come back???
Saleem
SALEEM
this market is sucking eggs
I would sell all but it it way to late to do that
Were is the bottom
M
Hi Madmax,
In bear market...when any sector is out of favour...it goes way down....
So it is a good idea to stay in few good bets.....
I suggest keep 4 good stocks like AAPL,GS,SOL,...which I know you have.....
Then WAIT for election results with balance of cash imho
Saleem
Hi Maxmax,
I agree with Saleem. Buy the best and wait it out. Money making companies will make more regardless of market direction and come out smelling green $$$$$ in the long run.
Best Regards
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