Markets are showing renewed weakness as S&P 500 took out its few day's old 52 week low.....Was it a RETEST of support.....only closing action will tell us.
Gold is flying Up $54 per oz......
Oil is showing muted up of $1.31.....
New shorting rules goes into effect @ midnight...where there is no chance of Failure To Deliver..delivery of shares is due on settlement day ie 3 days......This new rule should help the market....There is a big chance that lot of shorting is being done today to take the market LOWER...so they can COVER all naked shorts @ low low prices????
In my portfolio :
Sold GG and booked a profit of $2.35 per share......
Bought IPI..an Ag potash company..cost $32.10
Added more VMW on selloff due to Jeffries downgrade & target cut to $30..cost went down to $29.86....
Portfolio is SOL,CSIQ,RIMM,IPI,OIL.TO,JNPR,PMCS,VMW......
OIL.TO Down 43 cents
IPI Down $2.13...I am down 25 cents
PMCS Down 49 cents
JNPR Down $1.38
VMW Down $5.28
CSIQ Down 98 cents
RIMM Down $6.37
SOL Down 55 Cents
@ 12.00 the following are Green :
NVDA,SLV,SNDK(rejected buyout @ $26 from Samsung),
NDAQ,GG,ABX,AUY,DUG,KGC,QID,SDS,DXD.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Yuk, what a day. Looks like the shorts are getting their final licks in before they have to pony up. No one knows for sure the total number of naked shorts are out there. Billions of naked shorts is the word. When they can't cover or won't cover the broker has to buy the shares back? Or do they walk away too? I have no idea. This move by the SEC should help the market IMHO. Should have never done away with the uptick rule.
Hi Standards,
If you can believe it.....
New rules are effective tonight....which means that until today...they can naked short to their heart desire...and do not have to deliver????
No wonder every sector is taking on the chin.....
@ least that is how I am interpreting????
Saleem
Holy Cow!
GS taking a big hit. The bad guys are trying to bring down another giant. Brutal selling everywhere. Blood is flowing freely now. Ugh. It's going to be interesting to watch what happens Thursday after the new rules take effect. Why don't they put the uptick rule back in effect. Special interests........
WOW
GS is taken out to the wood shed they beet it sense less
OUCH, the shorts are ruling the day IMHO
Oils are coming back quick--HAL and DVN are blasting up FRO and DSX are fighting back too. May close green today for oils and shippers
GOOD LUCK TO ALL
thanks for the positiv enote abotu my doctors visit
WOW--No cancer still in remission
Standards Gas is up in DC this week yuk
Ford Motor had a car that get 60 miles a gallon but they will not sell it in the USA only Europe as it is Diesel--Interesting
Cheers
Hi C,
Glad that your checkup was A'OK...
Markets may surprise by close....
Saleem
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