Markets are falling ever since S&P 500 closed above 1300......
Selling is OVERDONE......
Reason for this selling is attributed to hedge funds forced liquidation......
Today's tape was more like hedge fund capitulation......
In my portfolio :
CSIQ rating 40/90 target $42.48
SOL rating 35/70 target $28.36
Among the laggard solar stock SOLF took off in last few minutes of close on NO news..OVERSOLD???.......
HOKU announced cancellation & new $1billion Polysilicon deal...stock UP 10%++++
Now...only if CSIQ & SOL join the UP mode like STP,LDK......
Friday's job report will be the-economic news @ 830AM.....I do not think it will be a market moving event as we are already washed out.....so bad news will be greeted like good news...because market is OVERSOLD !!!
BLOG does NOT give buy or sell.
Saleem
10 comments:
Interesting read, its crazy market, and as Saleem said Dow drop might very well due to hedge fund liquidations.
Nobody knows why the Dow dropped 345 points today
http://www.bloggingstocks.com/2008/09/04/nobody-knows-why-the-dow-dropped-345-points-today/
Hi Troy,
It is a given when commodities CRASH like they have...that there are many hedge funds in ICU & panic is setting in this week...
Hedge funds are leveraged to the hilt...so they must liquidate to cover their margin call.
Saleem
Hi Saleem,
I got Rimm and did not get out on time and now I am the bag-holder. I would like your opinion on Rimm since it dropped like no one wants to touch it. Thanks.
Michael
Hi Saleem,
Bought V at $70.66
Good luck today.
Hi Michael,
RIMM IS oversold now.....
This Q is running as expected...next Q MAYBE lower than consensus....
So...try to get out near your cost on any bounce....
Saleem
Hi Standards,
Good luck with V.....
Saleem
hi saleem
thanks for your advice. i just sold sgr . i am still holding wfr. i hope to minimize the loss. i think the market is so unpredictable as the world is slowing down.
by the way, my son is doing good. i am enjoying every step of his life. my son and i go out everyday in the evening enjoying the nature, and talking to him about the little things we see on the way..
little things... but those little things matters a lot. i hope he will be like you, helping others...
good luck to your investing.
steve
Hi Steve,
Thanks for your note.
WFR is OVERSOLD...so it IS a good hold now....you can easily make money in WFR...but book profit when you have it......
Your son being a Taurus will be very ATTENTIV to your love affection & teachings.....as I was to my dad...who taught me love & wisdom.
Saleem
Hi, salim
very bad market. sold out ,100 % cash. What is a good buy. I like BAC.
thax
Hi Ds,
ETFC looks good !!!!
Saleem
Post a Comment