Markets have given enough reason to every trader/investor to look @ market AGAIN.....
New 52 wk low list shrank to only 35 on NYSE & 81 on NASDAQ.....a major departure from only few days ago....
Advancing stocks led by 2.5 to 1 on NYSE & NASDAQ....
This weekend will be a major confidence builder for market participants.
By 10AM Saturday..I will list technically Strong/weak/buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Friday, October 31, 2008
Higher HIGHS in markets..get used to it $$$$
Markets are showing the most skeptic to believe that world is NOT coming to an end.....
LIBOR is easing big time.....
MGM was able to finance Billion without any problem.....
Oil & Gas prices are @ 14 months LOW......
So..I guess it is OK to come out of DEPRESSION CAVE & leave those SOUP CANS for another 100 years......It is OK to see & feel what SUNSHINE is all about !!!!
In my portfolio :
LVS UP $2.38
UYG UP 49 cents
UYM UP 18 cents
@ 11.49 AM following are green :
RIMM,SOL,URE,PHM,NDN,SOLF,WFR,V,POT,C,
CTRN,IGT,WYNN,NDAQ,MA,NYX,SAY,VLO,
GOOG,IBN,LRCX.
BLOG does NOT give buy or sell.
Saleem
LIBOR is easing big time.....
MGM was able to finance Billion without any problem.....
Oil & Gas prices are @ 14 months LOW......
So..I guess it is OK to come out of DEPRESSION CAVE & leave those SOUP CANS for another 100 years......It is OK to see & feel what SUNSHINE is all about !!!!
In my portfolio :
LVS UP $2.38
UYG UP 49 cents
UYM UP 18 cents
@ 11.49 AM following are green :
RIMM,SOL,URE,PHM,NDN,SOLF,WFR,V,POT,C,
CTRN,IGT,WYNN,NDAQ,MA,NYX,SAY,VLO,
GOOG,IBN,LRCX.
BLOG does NOT give buy or sell.
Saleem
Thursday, October 30, 2008
Dow closed UP 189.73 @ 9180.69..UP 1406.98 from LOW
Markets are FINALLY overcoming profit taking & NEGATIVE news.....
Fed Governor Janet Yelin gave a terse account of US economy saying it is weakening rapidly..market gave UP 200 points gain on that comment... but came back UP in last 10 minutes...a true sign of confidence building in markets.....
I am expecting a further stampede of BUYING in days ahead......
I am more & more focused on ETF as I feel they are better way of participating in this strong UPSURGE......
Knowing what is inside of each ETF is very important..to make a good investing/trading decision....
BLOG does NOT give buy or sell.
Saleem
Fed Governor Janet Yelin gave a terse account of US economy saying it is weakening rapidly..market gave UP 200 points gain on that comment... but came back UP in last 10 minutes...a true sign of confidence building in markets.....
I am expecting a further stampede of BUYING in days ahead......
I am more & more focused on ETF as I feel they are better way of participating in this strong UPSURGE......
Knowing what is inside of each ETF is very important..to make a good investing/trading decision....
BLOG does NOT give buy or sell.
Saleem
Market absorbing selling.....
Markets are trying to stay green as sellers are active......
Gold & Oil reversed...now Down.....
In my portfolio :
Sold RIMM..tape has been weak...& analyst commentary were negative on a daily basis...
Bought UYM cost $20.08
Bought LVS cost $11.58
Portfolio is UYG,UYM & LVS.....
UYG UP 18 cents
UYM UP 28 cents
LVS UP $2.37
Most stocks on my watch list are green except RIMM,GS,ISRG,GG......
BLOG does NOT give buy or sell.
Saleem
Gold & Oil reversed...now Down.....
In my portfolio :
Sold RIMM..tape has been weak...& analyst commentary were negative on a daily basis...
Bought UYM cost $20.08
Bought LVS cost $11.58
Portfolio is UYG,UYM & LVS.....
UYG UP 18 cents
UYM UP 28 cents
LVS UP $2.37
Most stocks on my watch list are green except RIMM,GS,ISRG,GG......
BLOG does NOT give buy or sell.
Saleem
Wednesday, October 29, 2008
S&P 500 made it near 970..before profit taking !!!!
Markets were in their merry way going UP celebrating 50 basis cut on all Fed rates...but just 6 minutes before close.....it was a coordinated profit taking.....which left Most indices in small RED... BUT NASDAQ making it 2 green in a row.....
Markets are in healthy mode...& these SWINGS are to be expected.......so buy the dips !!!!
FSLR beat Q3 estimates handily thanks to tax credit from German operation......they are confirming 09 estimates......which gave BOOST to all solar stocks......
Unemployment claims will take centre stage @ 830 AM......500,000 MAY be reached.....
US$ took a pounding by every currency including Canadian $ where I am LONG thus Shorting US$ ...which I had identified on Sunday post as OVERVALUED.....it was a hugely profitable trade today for me.....
After a long long time we had NEW 52 week high on both NYSE & NASDAQ....things are CHANGING !!!!
BLOG does NOT give buy or sell.
Saleem
Markets are in healthy mode...& these SWINGS are to be expected.......so buy the dips !!!!
FSLR beat Q3 estimates handily thanks to tax credit from German operation......they are confirming 09 estimates......which gave BOOST to all solar stocks......
Unemployment claims will take centre stage @ 830 AM......500,000 MAY be reached.....
US$ took a pounding by every currency including Canadian $ where I am LONG thus Shorting US$ ...which I had identified on Sunday post as OVERVALUED.....it was a hugely profitable trade today for me.....
After a long long time we had NEW 52 week high on both NYSE & NASDAQ....things are CHANGING !!!!
BLOG does NOT give buy or sell.
Saleem
CALM before 50 BP cut.....
Markets are in a holding pattern for 50 BP interest rate cut.....
No Yahoos coming on CNBC saying "sell the RIP anymore"
DXD is DE FOCUSED also......
Even Art Cashin of UBS discovered "bullish religion"......Now that he did not get 1000 point drop ..but 900 melt UP...he has CHANGED his TUNE.....good for his pocket book from hereon...if you cannot fight them join them is the-mantra.....
Confidence IS building for markets.....
Traders/Investors will tip toe back IN.....
Most stocks are trending UP......
Even casino stocks are on FIRE.....
MGM pricing $1 Billion in financing today.....things must have eased up in credit market.
Expecting another strong close.......
More short covering/selling of DXD/SDS/QID
Need to change strategy based on "new bullish tape"
BLOG does NOT give buy or sell.
Saleem
No Yahoos coming on CNBC saying "sell the RIP anymore"
DXD is DE FOCUSED also......
Even Art Cashin of UBS discovered "bullish religion"......Now that he did not get 1000 point drop ..but 900 melt UP...he has CHANGED his TUNE.....good for his pocket book from hereon...if you cannot fight them join them is the-mantra.....
Confidence IS building for markets.....
Traders/Investors will tip toe back IN.....
Most stocks are trending UP......
Even casino stocks are on FIRE.....
MGM pricing $1 Billion in financing today.....things must have eased up in credit market.
Expecting another strong close.......
More short covering/selling of DXD/SDS/QID
Need to change strategy based on "new bullish tape"
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 28, 2008
S&P 500 UP 100 points from LOW......Yes!!!
Markets were in a buying mood today with buy ratio from 7 to 1 to 20 to 1......I wonder what happened to famous mantra "sell the RIP".....was this NOT mother of a RIP.....so another popular theory hit the DUST.......
So Macke wannabes sold first thing in the morning....then loaded UP on DXD...& watched their hard earned RIP equity EVAPORATE whole day...I am sure they TRIPLED UP on their DXD...as they say AVERAGE DOWN & DOWN & DOWN......
As I mentioned before OPEN......this will be a "very bad day for shorts"...it turned out to be BAD,BAD & more BAD......
Funny NOBODY mentioned DXD for tomorrow on Fast Money.....still SCREAMING "sell the RIP"......As Barton Biggs replied to Macke.....so you sell the rally.......while market will keep going HIGHER.....
Barton Biggs is predicting melt UP buying to CONTINUE...to much HIGHER levels......
I personally believe this IS a solid rally which has much more room on the UPSIDE.......
BLOG does NOT give buy or sell.
Saleem
So Macke wannabes sold first thing in the morning....then loaded UP on DXD...& watched their hard earned RIP equity EVAPORATE whole day...I am sure they TRIPLED UP on their DXD...as they say AVERAGE DOWN & DOWN & DOWN......
As I mentioned before OPEN......this will be a "very bad day for shorts"...it turned out to be BAD,BAD & more BAD......
Funny NOBODY mentioned DXD for tomorrow on Fast Money.....still SCREAMING "sell the RIP"......As Barton Biggs replied to Macke.....so you sell the rally.......while market will keep going HIGHER.....
Barton Biggs is predicting melt UP buying to CONTINUE...to much HIGHER levels......
I personally believe this IS a solid rally which has much more room on the UPSIDE.......
BLOG does NOT give buy or sell.
Saleem
Sixth RETEST of LOW/SUPPORT completed TODAY???
Markets are FULL OF surprise......instead of staying UP 300+ points it decided to RETEST SUPPORT again......
On RETEST none of the indices broke 52 week low today.......
It IS a crazy time in market..when we keep talking about RETEST for the 6Th time in 12 days....
Close is where the craziness MAY stop & we MAY start a new STRONG UP market....only close will confirm my thesis ....
In my portfolio :
RIMM UP 28 cents
UYG Down 17 cents
@ 12.16 PM following are green in my watch list :
AAPL,NDN,HOU.TO,UYM,HQU.TO,V,GG,C,
TKC,ICE,CCJ,JRCC,BIDU,SOHU,SAY,VLO,
ABX,ISRG,XLF,SNE,IBN,GOOG,AGU,DIG,FXI,
SNY,AMZN,XLE.
BLOG does NOT give buy or sell.
Saleem
On RETEST none of the indices broke 52 week low today.......
It IS a crazy time in market..when we keep talking about RETEST for the 6Th time in 12 days....
Close is where the craziness MAY stop & we MAY start a new STRONG UP market....only close will confirm my thesis ....
In my portfolio :
RIMM UP 28 cents
UYG Down 17 cents
@ 12.16 PM following are green in my watch list :
AAPL,NDN,HOU.TO,UYM,HQU.TO,V,GG,C,
TKC,ICE,CCJ,JRCC,BIDU,SOHU,SAY,VLO,
ABX,ISRG,XLF,SNE,IBN,GOOG,AGU,DIG,FXI,
SNY,AMZN,XLE.
BLOG does NOT give buy or sell.
Saleem
Mother of all rally Today..Shorts will get CRUSHED $$$$$
Markets made a very strong base in S&P 500 & Dow ...without taking out the LOW.....
Low of Oct 10Th held nicely.....
Shorts were banking on further 1000 point drop and some were sure we will see 6,000 on Dow...
Guess what..not only we held our Oct 10Th LOW..but we MAY see the biggest short covering in history TODAY......
So..it IS important to pay attention "to the message of the market"
When markets do NOT make new LOWS anymore...then it is time to RETHINK strategy!!!!
Move UP from bottom is always VIOLENT.......
Those DOUBLE shorts will be QUAD pain today.....
Most of the GAIN can come in few weeks ......
Good luck with your strategy!!!!!
BLOG does NOT give buy or sell.
Saleem
Low of Oct 10Th held nicely.....
Shorts were banking on further 1000 point drop and some were sure we will see 6,000 on Dow...
Guess what..not only we held our Oct 10Th LOW..but we MAY see the biggest short covering in history TODAY......
So..it IS important to pay attention "to the message of the market"
When markets do NOT make new LOWS anymore...then it is time to RETHINK strategy!!!!
Move UP from bottom is always VIOLENT.......
Those DOUBLE shorts will be QUAD pain today.....
Most of the GAIN can come in few weeks ......
Good luck with your strategy!!!!!
BLOG does NOT give buy or sell.
Saleem
Monday, October 27, 2008
Market sold off near close......
Markets closed down 2.42% to 3.18%.....
S&P 500 was the-weakest followed by NASDAQ then Dow.....
Considering everything US market still behaved with more confidence than Europe & Asia where % drop was much steeper during trading hour.
Futures are lower on all indices after factoring fair value :
Dow Down 139.77
S&P 500 Down 13.32
NASDAQ Down 19.28
Fed meeting starting Tuesday with interest rate decision on Wed by 2.15 PM...expecting 50 basis...
BLOG does NOT give buy or sell.
Saleem
S&P 500 was the-weakest followed by NASDAQ then Dow.....
Considering everything US market still behaved with more confidence than Europe & Asia where % drop was much steeper during trading hour.
Futures are lower on all indices after factoring fair value :
Dow Down 139.77
S&P 500 Down 13.32
NASDAQ Down 19.28
Fed meeting starting Tuesday with interest rate decision on Wed by 2.15 PM...expecting 50 basis...
BLOG does NOT give buy or sell.
Saleem
Why Dow NOT Down 2000 points today..How can Experts be so WRONG !!!
If you can believe it Dow is NOT crashing Again......
Dow Did not crash on Friday either.....
Elliott Wave theorist predicted 25% further drop.....So why we are even touching GREEN on no NEW news......
Hong Kong was down 15% @ one point closed Down 12%......
Nikkei Down 6.5%.....
Is DOW not INTERLINKED with world markets ANYMORE.......You be the judge......
When Markets do NOT go down in SYMPATHY for two days in a row...PAY ATTENTION....
Message of the market IS very clear......index LOW are holding.....
FEAR is a great barometer of bottom......VIX has been telegraphing FEAR to the HILT for sometime.....
Bottom has been FORMING since October 10th.....a nice base building for last 12 trading days!!!!
In my portfolio :
RIMM Down 65 cents
UYG Down 24 cents
@ 12.13 PM following are green on my watch list :
NDN,PHM,TOL,SHLD,V,C,TKC,CTRN,SOHU,
ISRG,XLF,SNE,IBN,DUG,AMZN,JNPR,BRCM.
BLOG does NOT give buy or sell.
Saleem
Dow Did not crash on Friday either.....
Elliott Wave theorist predicted 25% further drop.....So why we are even touching GREEN on no NEW news......
Hong Kong was down 15% @ one point closed Down 12%......
Nikkei Down 6.5%.....
Is DOW not INTERLINKED with world markets ANYMORE.......You be the judge......
When Markets do NOT go down in SYMPATHY for two days in a row...PAY ATTENTION....
Message of the market IS very clear......index LOW are holding.....
FEAR is a great barometer of bottom......VIX has been telegraphing FEAR to the HILT for sometime.....
Bottom has been FORMING since October 10th.....a nice base building for last 12 trading days!!!!
In my portfolio :
RIMM Down 65 cents
UYG Down 24 cents
@ 12.13 PM following are green on my watch list :
NDN,PHM,TOL,SHLD,V,C,TKC,CTRN,SOHU,
ISRG,XLF,SNE,IBN,DUG,AMZN,JNPR,BRCM.
BLOG does NOT give buy or sell.
Saleem
Sunday, October 26, 2008
41% carnage in index...not a crash it is a selling TSUNAMI....
Markets have endured 41% crash in most index....
This is NOT a crash...it IS a selling TSUNAMI......
From Oct 10 we have tested the LOWS 4 times in 10 trading days...never EVER happened before??
Every stock has made series of new lows.......
Minimum carnage is 50% while MOST down close to 75%..some are hitting 82% down......NOT a mark of crash..it is giving stocks away for any money.....
Most stocks hit new LOWS on Friday on 4th RETEST of lows.....
Will it EVER end?
If you listen to CNBC it will ONLY end when Art Cashin of UBS is convinced that there has been capitulation.....one man decides the fate of billion & trillion in $.....if this is a CRUEL joke ..I do not know ..what can be......an employee of UBS hold the key of this market selling Tsunami????
The question is...is Art Cashin a frontman for SHORT hedge funds..who is brought ON CNBC 5 times a day to express DISGUST to market NOT falling 1000 points.....sure enough daytraders panic & sell everything as soon he come on CNBC.....taking index near LOWS......
I am sure this "sick game coordinated by UBS Art Cashin,CNBC & Shorts Cartel WILL come to an END"
I am willing to go on a limb & declare that "market will find its footing RIGHT HERE & RIGHT NOW"
Many stocks have been trashed RIMM,AAPL,DRYS,POT,MON,X,GOOG,BIDU,CMED,Gold,Oil.
US$ is overvalued......
Another technical outfit Elliott Wave theorist have been WRONG for 21 years...in 1987 Robert Prechter predicted markets are OVERVALUED..which they WERE based on PE 0n S&P 500 almost 27 then vs 10 now.....EW predicted that Dow will go to 400....he was wrong by 1300 points or WRONG by over 300%....statistically it is a DISASTROUS call with NO CREDIBILITY...Now he is predicting another 25% correction...I am ALMOST certain he will MAINTAIN his record of "stupid calls"
So.....You can be scared of Short Cartel OR start picking UP very good stocks @ DEEP DISCOUNT prices......
Warren Buffett & Bob Doll has more CREDIBILITY & Investment SAVVY than Art Cashin & Short Cartel......
Good luck with your OWN due diligence & go for FEW strong stocks...as starting point ..then see how it goes against the CNBC drumroll for Short Cartel.
NOT everybody has to THINK & ACT like daytraders.
Economic hysteria will be over by May 09....imho
BLOG does NOT give buy or sell.
Saleem
This is NOT a crash...it IS a selling TSUNAMI......
From Oct 10 we have tested the LOWS 4 times in 10 trading days...never EVER happened before??
Every stock has made series of new lows.......
Minimum carnage is 50% while MOST down close to 75%..some are hitting 82% down......NOT a mark of crash..it is giving stocks away for any money.....
Most stocks hit new LOWS on Friday on 4th RETEST of lows.....
Will it EVER end?
If you listen to CNBC it will ONLY end when Art Cashin of UBS is convinced that there has been capitulation.....one man decides the fate of billion & trillion in $.....if this is a CRUEL joke ..I do not know ..what can be......an employee of UBS hold the key of this market selling Tsunami????
The question is...is Art Cashin a frontman for SHORT hedge funds..who is brought ON CNBC 5 times a day to express DISGUST to market NOT falling 1000 points.....sure enough daytraders panic & sell everything as soon he come on CNBC.....taking index near LOWS......
I am sure this "sick game coordinated by UBS Art Cashin,CNBC & Shorts Cartel WILL come to an END"
I am willing to go on a limb & declare that "market will find its footing RIGHT HERE & RIGHT NOW"
Many stocks have been trashed RIMM,AAPL,DRYS,POT,MON,X,GOOG,BIDU,CMED,Gold,Oil.
US$ is overvalued......
Another technical outfit Elliott Wave theorist have been WRONG for 21 years...in 1987 Robert Prechter predicted markets are OVERVALUED..which they WERE based on PE 0n S&P 500 almost 27 then vs 10 now.....EW predicted that Dow will go to 400....he was wrong by 1300 points or WRONG by over 300%....statistically it is a DISASTROUS call with NO CREDIBILITY...Now he is predicting another 25% correction...I am ALMOST certain he will MAINTAIN his record of "stupid calls"
So.....You can be scared of Short Cartel OR start picking UP very good stocks @ DEEP DISCOUNT prices......
Warren Buffett & Bob Doll has more CREDIBILITY & Investment SAVVY than Art Cashin & Short Cartel......
Good luck with your OWN due diligence & go for FEW strong stocks...as starting point ..then see how it goes against the CNBC drumroll for Short Cartel.
NOT everybody has to THINK & ACT like daytraders.
Economic hysteria will be over by May 09....imho
BLOG does NOT give buy or sell.
Saleem
Saturday, October 25, 2008
BUY rated stocks for " Bear market REBOUND"
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
WDC,VMW,TXN,AHL,BAC,USB,VIA,HITT,SEED,
ATHR,OMRI,PXLW,SHA.
Next post 10 AM Sunday.
BLOG does NOT give buy or sell.
Saleem
WDC,VMW,TXN,AHL,BAC,USB,VIA,HITT,SEED,
ATHR,OMRI,PXLW,SHA.
Next post 10 AM Sunday.
BLOG does NOT give buy or sell.
Saleem
Technically STRONG stocks for " Bear market REBOUND"
Following stocks are showing technical strength based on various formations.Please do your OWN due diligence by checking FA/TA/TAPE.
UAUA,SD,SMG,EDU,CEA.
BLOG does NOT give buy or sell.
Saleem
UAUA,SD,SMG,EDU,CEA.
BLOG does NOT give buy or sell.
Saleem
Technically WEAK stocks for " Bear market REBOUND"
Following stocks are showing technical weakness based on various formations.Please do your OWN due diligence by checking FA/TA/TAPE.
VISN,PHM,DKS,JPM,PRGO,ULTA,BK.
BLOG does NOT give buy or sell.
Saleem
VISN,PHM,DKS,JPM,PRGO,ULTA,BK.
BLOG does NOT give buy or sell.
Saleem
Friday, October 24, 2008
Markets closed Down 3%+...NOT bad !!!!
Markets were all set for freefall based on Asian & European trading where losses were as much as 10% on closing basis......
We all were positively surprised to see that averages were PUSHED down @ close to ONLY 3%+ on all indices......
Why do I say PUSHED down...because that was done in last 5 minutes....by those who wish HARM to investors confidence....
Today NASDAQ after going down to new LOWS was down the LEAST only 3.23% while Dow & S&P 500 were down more.......this IS very significant as semiconductor index is showing sign of life...which IS very good for the health of technology stocks......
New 52 week low on NYSE & NASDAQ were in 700 range....decliners lead by 4 to 1 .....negative but NOT DOWN & OUT.......
By 10 am Saturday...I will list technically weak/strong/buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
We all were positively surprised to see that averages were PUSHED down @ close to ONLY 3%+ on all indices......
Why do I say PUSHED down...because that was done in last 5 minutes....by those who wish HARM to investors confidence....
Today NASDAQ after going down to new LOWS was down the LEAST only 3.23% while Dow & S&P 500 were down more.......this IS very significant as semiconductor index is showing sign of life...which IS very good for the health of technology stocks......
New 52 week low on NYSE & NASDAQ were in 700 range....decliners lead by 4 to 1 .....negative but NOT DOWN & OUT.......
By 10 am Saturday...I will list technically weak/strong/buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Nasdaq dipped to new low BUT Dow & S&P 500 ABOVE lows !!!!
Today was the-perfect storm for US markets......Asia tanked & Europe was down 6% to 9%....
We were limit down which was 5% on all indices......
Many commentators were predicting 10% meltdown...to STIR panic.....
As usual Bob Doll was CALM & said on CNBC before open that you do NOT sell on limit down days...and he was buying & encouraged buying.....also suggested to sell on big UP days.....
Art Cashin of UBS was the-most disappointed trader as he was ready for 10%++ drop.....I guess he does NOT control US market either.....
Nasdaq went down to 1493.79...new 52 week LOW...Nasdaq has been the-weakest index....thanks to jitter about consumer chip sales.....
Dow & S&P 500 stayed well ABOVE their 52 week lows...sign of markets showing individual strength....not interlinked to the same degree......
In my portfolio :
RIMM Down $1.64
UYG Down 59 cents
@ 11.59 AM following are green in my watch list :
GG,KGC,ABX,WFR,VAR,DUG,PHM,AMZN,LRCX,
QID,SDS,DXD.
BLOG does NOT give buy or sell.
Saleem
We were limit down which was 5% on all indices......
Many commentators were predicting 10% meltdown...to STIR panic.....
As usual Bob Doll was CALM & said on CNBC before open that you do NOT sell on limit down days...and he was buying & encouraged buying.....also suggested to sell on big UP days.....
Art Cashin of UBS was the-most disappointed trader as he was ready for 10%++ drop.....I guess he does NOT control US market either.....
Nasdaq went down to 1493.79...new 52 week LOW...Nasdaq has been the-weakest index....thanks to jitter about consumer chip sales.....
Dow & S&P 500 stayed well ABOVE their 52 week lows...sign of markets showing individual strength....not interlinked to the same degree......
In my portfolio :
RIMM Down $1.64
UYG Down 59 cents
@ 11.59 AM following are green in my watch list :
GG,KGC,ABX,WFR,VAR,DUG,PHM,AMZN,LRCX,
QID,SDS,DXD.
BLOG does NOT give buy or sell.
Saleem
Thursday, October 23, 2008
Dow & S&P 500 rallied into close......
Markets for sure knows how to confuse traders on a HOURLY basis......
Nice to see green close on Dow & S&P 500......
NASDAQ is another story.....Red was the colour.....
In my portfolio :
Sold SOL.....
Portfolio is RIMM & UYG.....
What is my strategy now......
Stay put with my current picks...until bear market is OVER.....which MAY be a long wait....unless something fundamentally CHANGE in my pick....
Why this approach.....
No need to do FA or TA in any stock as nothing is working......
Good ER is being sold off & perception of MISS is redefined for some & not others.....
This is the worst bear market ..I have ever seen.....nothing seems to work for more than two minute.....
BLOG does NOT give buy or sell.
Saleem
Nice to see green close on Dow & S&P 500......
NASDAQ is another story.....Red was the colour.....
In my portfolio :
Sold SOL.....
Portfolio is RIMM & UYG.....
What is my strategy now......
Stay put with my current picks...until bear market is OVER.....which MAY be a long wait....unless something fundamentally CHANGE in my pick....
Why this approach.....
No need to do FA or TA in any stock as nothing is working......
Good ER is being sold off & perception of MISS is redefined for some & not others.....
This is the worst bear market ..I have ever seen.....nothing seems to work for more than two minute.....
BLOG does NOT give buy or sell.
Saleem
Markets UP after retesting TRIPLE support...
Markets are behaving well after triple testing support......
S&P 500 & Dow are behaving much better than.... NASDAQ which was weakest yesterday also ...
In my portfolio :
SOL Down 4 cents
RIMM Down $1.92
UYG Down 39 cents
@12.08 following are green in my watch list :
HOU.TO,AAPL,CCJ,ICE,WYN,ISRG,IBN,SNY,
DIG,XLE.
BLOG does NOT give buy or sell.
Saleem
S&P 500 & Dow are behaving much better than.... NASDAQ which was weakest yesterday also ...
In my portfolio :
SOL Down 4 cents
RIMM Down $1.92
UYG Down 39 cents
@12.08 following are green in my watch list :
HOU.TO,AAPL,CCJ,ICE,WYN,ISRG,IBN,SNY,
DIG,XLE.
BLOG does NOT give buy or sell.
Saleem
Wednesday, October 22, 2008
Higher intraday lows still valid for Dow & S&P 500
Markets are behaving in a deep bearish tape.......
But...there IS some kind of technical solace even today......
Check the intraday low on the following days :
*****October 10 October 16 October 22
Dow********7773*******8176******8335
S&P 500****840********866******876
These days technicals or fundamentals do NOT matter.......
Today's market focus was on worldwide slowdown...which has been HIGHLIGHTED for @ least 3 months.....but who is counting......
In my portfolio :
Sold PHM & NDN.......
Portfolio is RIMM,SOL & UYG......
Finally.... it is clear to me that one needs to work on increasing EQUITY instead of making profit on every trade......
So...I should be executing trades whenever there is an increase in equity.....
This IS a deep PROLONGED bear market which will drag for another SIX months easily.....
Worldwide economy needs to regroup to ensure GROWTH ...which takes time.....
BLOG does NOT give buy or sell.
Saleem
But...there IS some kind of technical solace even today......
Check the intraday low on the following days :
*****October 10 October 16 October 22
Dow********7773*******8176******8335
S&P 500****840********866******876
These days technicals or fundamentals do NOT matter.......
Today's market focus was on worldwide slowdown...which has been HIGHLIGHTED for @ least 3 months.....but who is counting......
In my portfolio :
Sold PHM & NDN.......
Portfolio is RIMM,SOL & UYG......
Finally.... it is clear to me that one needs to work on increasing EQUITY instead of making profit on every trade......
So...I should be executing trades whenever there is an increase in equity.....
This IS a deep PROLONGED bear market which will drag for another SIX months easily.....
Worldwide economy needs to regroup to ensure GROWTH ...which takes time.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 Staircase RETEST @ Higher Lows...Normal !!!
Today's RETEST of S&P 500 took it down to 912.81.....much higher than Low of 839.80....
It IS normal to test the previous support point on any UP move......
Longer this back & fill mode exist ...better the base/support......
We are already trading @ 923.75 on S&P 500......higher than today's low......
So what triggered this selling.....a sudden realization that recession is here.....based on ER commentary !!!!
In my portfolio :
PHM Down 11 cents....reports AH loss of 37 cents ..Sales $1.53 Billion
NDN Down 34 cents
SOL Down 62 cents
RIMM UP $1.69
UYG Down 68 cents
@ 11.58 AM following are green in my watch list :
V,AAPL,YHOO,BRCM,BIDU,LVS,GOOG,
DUG,QID,SDS,DXD.
BLOG does NOT give buy or sell.
Saleem
It IS normal to test the previous support point on any UP move......
Longer this back & fill mode exist ...better the base/support......
We are already trading @ 923.75 on S&P 500......higher than today's low......
So what triggered this selling.....a sudden realization that recession is here.....based on ER commentary !!!!
In my portfolio :
PHM Down 11 cents....reports AH loss of 37 cents ..Sales $1.53 Billion
NDN Down 34 cents
SOL Down 62 cents
RIMM UP $1.69
UYG Down 68 cents
@ 11.58 AM following are green in my watch list :
V,AAPL,YHOO,BRCM,BIDU,LVS,GOOG,
DUG,QID,SDS,DXD.
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 21, 2008
Market gave up part of gain @ close......
Markets are trying to build a higher base ..for further move UP......
Today most sectors were weak....
AH APPL came UP with a beat but guided LOWER than consensus......
AAPL stocks is UP $11+ AH from close......
VMW UP $4 AH on good ER..
YHOO UP $1 on bad ER....
Futures are UP after factoring "fair value"
Dow UP 71
S&P 500 UP 10
NASDAQ UP 28
BLOG does NOT give buy or sell.
Saleem
Today most sectors were weak....
AH APPL came UP with a beat but guided LOWER than consensus......
AAPL stocks is UP $11+ AH from close......
VMW UP $4 AH on good ER..
YHOO UP $1 on bad ER....
Futures are UP after factoring "fair value"
Dow UP 71
S&P 500 UP 10
NASDAQ UP 28
BLOG does NOT give buy or sell.
Saleem
Markets remains healthy with pullbacks !!!!
Markets are showing every sign of working its way UP...... pullbacks with majority of gains intact...is a good thing.....
TXN has been a perpetual loser and always drags tech sector.....
AAPL reports AH....and it will BEAT.....guidance NOT expected to be horrible....as some are fearing......
LIBOR & Treasury rates are responding to liquidity on a daily basis....
In my portfolio :
PHM Down 42 cents
NDN UP 18 cents
SOL Down 43 cents
RIMM Down 87 cents
UYG Down 21 cents
@11.50 AM..following are green in my watch list :
STP,CTRN,ICE,NDAQ,LVS,DUG,SNDK,QID,SDS,DXD.
BLOG does NOT give buy or sell.
Saleem
TXN has been a perpetual loser and always drags tech sector.....
AAPL reports AH....and it will BEAT.....guidance NOT expected to be horrible....as some are fearing......
LIBOR & Treasury rates are responding to liquidity on a daily basis....
In my portfolio :
PHM Down 42 cents
NDN UP 18 cents
SOL Down 43 cents
RIMM Down 87 cents
UYG Down 21 cents
@11.50 AM..following are green in my watch list :
STP,CTRN,ICE,NDAQ,LVS,DUG,SNDK,QID,SDS,DXD.
BLOG does NOT give buy or sell.
Saleem
Monday, October 20, 2008
S&P 500 UP 4.77%.....Nice !!!
Markets were reacting positively to LIBOR & Treasury rates.....
Many sectors participated in this rally with MAJOR UP moves......
Today's rally had the FEEL of "rally from support"...
Oppenheimer's Carter Worth the famed technician...who has been RIGHT most of the time is FIRM that bottom is IN & he is "ALL IN"
He is very high on Commodity ETF UYM...which is a very good way to play the materials UPTURN....
RIMM was bestowed with "three cautious commentary by analyst" Q3 estimates for Sales has been reduced due to economy & delay in BOLD launch..Morgan Keegan reduced EPS for Q3 to 87 cents from 95 cents...next week is being rumoured for much awaited BOLD launch in US......all this delay was thanks to ATT prepardness issue....RIMM closed Down $5.10 on 41 million shares vs average of 25 million .....
BLOG does NOT give buy or sell.
Saleem
Many sectors participated in this rally with MAJOR UP moves......
Today's rally had the FEEL of "rally from support"...
Oppenheimer's Carter Worth the famed technician...who has been RIGHT most of the time is FIRM that bottom is IN & he is "ALL IN"
He is very high on Commodity ETF UYM...which is a very good way to play the materials UPTURN....
RIMM was bestowed with "three cautious commentary by analyst" Q3 estimates for Sales has been reduced due to economy & delay in BOLD launch..Morgan Keegan reduced EPS for Q3 to 87 cents from 95 cents...next week is being rumoured for much awaited BOLD launch in US......all this delay was thanks to ATT prepardness issue....RIMM closed Down $5.10 on 41 million shares vs average of 25 million .....
BLOG does NOT give buy or sell.
Saleem
Dow & S&P 500 stronger..Nasdaq lagging.....
Markets are on stable footing as LIBOR & treasury interest rates are reacting to all the liquidity.
Over the weekend many technical outfits are predicting a rally of 25% area......
Oversold conditions have been extreme during this meltdown.......
Strategy which will work..is to do lot of homework & stay the course......
Analyst are extremely NEGATIVE near LOWS and EUPHORIC near HIGHS.....so their opinion do NOT matter NOW......remember we are NOW in DEEP liquidity issue..which will CHANGE !!!
NASDAQ is lagging because AAPL,RIMM & GOOG are Down....
In my portfolio :
PHM UP 14 cents
NDN Down 6 cents
SOL UP 30 cents
RIMM Down $5.25...concern expressed by Pacific Crest for Q3 which ends in Nov....although he kept his estimate @ 96 cents HIGHER than consensus of 93 cents..kept his rating the same..I guess he wanted to encourage short position with some WORDS......I personally believe that NOV will be a very strong month for RIMM...when BOLD,FLIP & STORM will be in high gear...what a BUYING opportunity on this "concern note"
UYG Down 17 cents....
@ 12.16 following are green in my watch list:
UYM,WFR,GG,POT,TKC,CTRN,CCJ,JRCC,NDAQ,
BIDU,SOHU,NYX,SAY,VLO,ABX,SPWRA,FSLR,
ISRG,XLF,SNE,GS,VAR,IBN,FWLT,AGU,DIG,
SNY,FXI,LRCX,AMZN,X.
BLOG does NOT give buy or sell.
Saleem
Over the weekend many technical outfits are predicting a rally of 25% area......
Oversold conditions have been extreme during this meltdown.......
Strategy which will work..is to do lot of homework & stay the course......
Analyst are extremely NEGATIVE near LOWS and EUPHORIC near HIGHS.....so their opinion do NOT matter NOW......remember we are NOW in DEEP liquidity issue..which will CHANGE !!!
NASDAQ is lagging because AAPL,RIMM & GOOG are Down....
In my portfolio :
PHM UP 14 cents
NDN Down 6 cents
SOL UP 30 cents
RIMM Down $5.25...concern expressed by Pacific Crest for Q3 which ends in Nov....although he kept his estimate @ 96 cents HIGHER than consensus of 93 cents..kept his rating the same..I guess he wanted to encourage short position with some WORDS......I personally believe that NOV will be a very strong month for RIMM...when BOLD,FLIP & STORM will be in high gear...what a BUYING opportunity on this "concern note"
UYG Down 17 cents....
@ 12.16 following are green in my watch list:
UYM,WFR,GG,POT,TKC,CTRN,CCJ,JRCC,NDAQ,
BIDU,SOHU,NYX,SAY,VLO,ABX,SPWRA,FSLR,
ISRG,XLF,SNE,GS,VAR,IBN,FWLT,AGU,DIG,
SNY,FXI,LRCX,AMZN,X.
BLOG does NOT give buy or sell.
Saleem
Sunday, October 19, 2008
Warren Buffett vs Jimmy the Cramer...battle of genius vs idiot !!!
Here is the classic story of WISDOM vs talking from both end......
Jimmy the Cramer has "lost it COMPLETELY"
His URGING to sell everything if you need money for next 5 years for any project "near bottom" will go down in history as the most UNWISE line in investing/trading"
Why would anybody in their right mind will think of selling @ the bottom of worst bear market in 80 years.......to LOCK loss & MISS the biggest buying opportunity of last 80 years....????
So "buy low & sell High" is GONE....
OVERSOLD concept is GONE......
Bottom of the market is GONE.....
$ cost averaging is GONE.....
Always put aside money in long term investment is GONE.....
Best returns are always made when selling is intense...is GONE.....
I am sure Jimmy the Cramer will be given Noble prize for STUPIDITY in investment 101....
On the other hand......
Warren Buffett the "richest man alive" is BUYING STOCKS......
WHY......
He said..he is seeing VALUE in markets......
Warren Buffett is known as GENIUS of investing & has a KNOWN track record to prove it...
Smart investors/traders will listen to a LEGEND like Warren Buffett NOT an agenda driven frontman like Jimmy the Cramer.....
I am starting to wonder...if Jimmy the Cramer has lost too much in his declared & undeclared trading???
OR
If Jimmy the Cramer has been bought & paid for ..to scare the last believers in this market.....
Whatever the case....he is coming across as someone who CANNOT be TRUSTED for his ever changing RANTS near bottom in this 80 year bear market.....
Instead of a voice of CALM & ASSURANCE to stay in the market near bottom & build a strong portfolio.....he has joined the rank of a person who is NOT worth listening to.....
CNBC @ large has been a FRONT of DOOM & GLOOM.....instead of RATIONAL thesis to encourage INVESTING near bottom with $ cost averaging......
In my opinion......Selling near bottom & booking loss..does NOT increase EQUITY......
If you have funds to invest...this is a great time to do it......
Cut all the NOISE from CNBC & do your OWN thinking !!!!!
Bob Doll,Warren Buffett are great MENTORS...they are in market NOW.....
Please continue to do your OWN due diligence & find your OWN comfort level in this NOISE ridden market......
BLOG does NOT give buy or sell.
Saleem
Jimmy the Cramer has "lost it COMPLETELY"
His URGING to sell everything if you need money for next 5 years for any project "near bottom" will go down in history as the most UNWISE line in investing/trading"
Why would anybody in their right mind will think of selling @ the bottom of worst bear market in 80 years.......to LOCK loss & MISS the biggest buying opportunity of last 80 years....????
So "buy low & sell High" is GONE....
OVERSOLD concept is GONE......
Bottom of the market is GONE.....
$ cost averaging is GONE.....
Always put aside money in long term investment is GONE.....
Best returns are always made when selling is intense...is GONE.....
I am sure Jimmy the Cramer will be given Noble prize for STUPIDITY in investment 101....
On the other hand......
Warren Buffett the "richest man alive" is BUYING STOCKS......
WHY......
He said..he is seeing VALUE in markets......
Warren Buffett is known as GENIUS of investing & has a KNOWN track record to prove it...
Smart investors/traders will listen to a LEGEND like Warren Buffett NOT an agenda driven frontman like Jimmy the Cramer.....
I am starting to wonder...if Jimmy the Cramer has lost too much in his declared & undeclared trading???
OR
If Jimmy the Cramer has been bought & paid for ..to scare the last believers in this market.....
Whatever the case....he is coming across as someone who CANNOT be TRUSTED for his ever changing RANTS near bottom in this 80 year bear market.....
Instead of a voice of CALM & ASSURANCE to stay in the market near bottom & build a strong portfolio.....he has joined the rank of a person who is NOT worth listening to.....
CNBC @ large has been a FRONT of DOOM & GLOOM.....instead of RATIONAL thesis to encourage INVESTING near bottom with $ cost averaging......
In my opinion......Selling near bottom & booking loss..does NOT increase EQUITY......
If you have funds to invest...this is a great time to do it......
Cut all the NOISE from CNBC & do your OWN thinking !!!!!
Bob Doll,Warren Buffett are great MENTORS...they are in market NOW.....
Please continue to do your OWN due diligence & find your OWN comfort level in this NOISE ridden market......
BLOG does NOT give buy or sell.
Saleem
Saturday, October 18, 2008
BUY rated stocks for "Higher LOWS in markets "
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
LNDC,MITI,OSBC,OZRK,RJET,THOR,UAUA,UTEK,
AKT,DAL,NWA,SVR,TSP,WES,ZEP,SNY,AMZN,ZOLT,
ZRAN.
Next post Sunday by 10 AM.
BLOG does NOT give buy or sell.
Saleem
LNDC,MITI,OSBC,OZRK,RJET,THOR,UAUA,UTEK,
AKT,DAL,NWA,SVR,TSP,WES,ZEP,SNY,AMZN,ZOLT,
ZRAN.
Next post Sunday by 10 AM.
BLOG does NOT give buy or sell.
Saleem
Technically STRONG stocks for "Higher LOWS in markets "
Following stocks are showing technical strength based on various formations.Please do your OWN due diligence by checking FA/TA/TAPE.
ISSC,AMED.
BLOG does NOT give buy or sell.
Saleem
ISSC,AMED.
BLOG does NOT give buy or sell.
Saleem
Technically WEAK stocks for "Higher LOWS in markets "
Following stocks are showing technical weakness based on various formations.Please do your due diligence by checking FA/TA/TAPE.
AEM,GG,XGD.TO,RYL,STAR,TIN,NTY.
BLOG does NOT give buy or sell.
Saleem
AEM,GG,XGD.TO,RYL,STAR,TIN,NTY.
BLOG does NOT give buy or sell.
Saleem
Friday, October 17, 2008
OE impacted trading & close....
All indices were negative @ close but internals were healthy......
OE played a decisive role in PM tape.
Volume was low for OE & negative close....
By 10 AM Saturday..I will post a list of technically weak/strong/buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
OE played a decisive role in PM tape.
Volume was low for OE & negative close....
By 10 AM Saturday..I will post a list of technically weak/strong/buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Markets heading towards GREEN.....
Markets are in a STABLE mode.....
Open as usual was sharply LOWER...part of building a solid BASE......Markets keeps making HIGHER lows....sign of MAJOR base building......
Nice to see that Warren Buffett is encouraging Americans to invest in "bargain of century" my words not his...but he means the same thing....
In my portfolio :
Doubled my position in SOL..cost went WAY DOWN to $9.55....showing serious relative strength...Q3 must have been "a blowout"......
PHM Down 40 cents.....Housing data showing sign of "bottoming out"
NDN Down 15 cents
SOL UP 51 cents
RIMM 55 cents
UYG UP 18 cents
@ 12.00 following are green in my watch list :
WFR,YGE,ICE,CCJ,JRCC,NDAQ(going into S&P 500),WYNN,
MA,BIDU,LVS,SOHU,NYX,SAY,VLO,FSLR,GS,VAR,GOOG,
FWLT,SNY,SGP,AMZN,X.
BLOG does NOT give buy or sell.
Saleem
Open as usual was sharply LOWER...part of building a solid BASE......Markets keeps making HIGHER lows....sign of MAJOR base building......
Nice to see that Warren Buffett is encouraging Americans to invest in "bargain of century" my words not his...but he means the same thing....
In my portfolio :
Doubled my position in SOL..cost went WAY DOWN to $9.55....showing serious relative strength...Q3 must have been "a blowout"......
PHM Down 40 cents.....Housing data showing sign of "bottoming out"
NDN Down 15 cents
SOL UP 51 cents
RIMM 55 cents
UYG UP 18 cents
@ 12.00 following are green in my watch list :
WFR,YGE,ICE,CCJ,JRCC,NDAQ(going into S&P 500),WYNN,
MA,BIDU,LVS,SOHU,NYX,SAY,VLO,FSLR,GS,VAR,GOOG,
FWLT,SNY,SGP,AMZN,X.
BLOG does NOT give buy or sell.
Saleem
Thursday, October 16, 2008
Dow down 400 then closed UP 401.35....
Markets are following text book technicals.....down 400 then closed UP 400 on The Dow.
Markets internals were extremely bullish....
Advancing volume & issues led decliners by more than 2 to 1 to 7 to 1......NASDAQ volume were on the BUY side......
VIX spiked UP to 80 area..highest in recent memory.....highest in 21 years......
When too many speculators are on one side of trade...it always goes against.....
Common wisdom is never right.....everyone was either selling or sold out...just when sellers were feeling good...market turns around and goes UP....to shock most !!!!
Friday is OE......looks like shorts/puts are in big trouble....VIX buyers will lose out big...
GOOG ER was a beat....UP $50
ISRG ER looking good....Up $18
BLOG does NOT give buy or sell.
Saleem
Markets internals were extremely bullish....
Advancing volume & issues led decliners by more than 2 to 1 to 7 to 1......NASDAQ volume were on the BUY side......
VIX spiked UP to 80 area..highest in recent memory.....highest in 21 years......
When too many speculators are on one side of trade...it always goes against.....
Common wisdom is never right.....everyone was either selling or sold out...just when sellers were feeling good...market turns around and goes UP....to shock most !!!!
Friday is OE......looks like shorts/puts are in big trouble....VIX buyers will lose out big...
GOOG ER was a beat....UP $50
ISRG ER looking good....Up $18
BLOG does NOT give buy or sell.
Saleem
S&P retested support @ 867.05..IS that IT ???
Markets are following text book technical RETEST/SUPPORT in a hurry.....
Higher LOW is always a "good thing"...
S&P 500 52 week low was 839.80....so any support like 867.05 is HIGHER low.....
Markets are presenting an opportunity of CENTURY to buy good quality stocks in many sectors..
In my portfolio :
PHM Down 11 cents
NDN UP 29 cents
SOL UP 29 cents
RIMM Down 70 cents
UYG Down 67 cents
@ 11.39 AM following are green in my watch list :
STP,WFR,V,ICE,YHOO,LVS,SPWRA,FSLR,ISRG,
IBN,CMED,DUG,SDS,DXD.
BLOG does NOT give buy or sell.
Saleem
Higher LOW is always a "good thing"...
S&P 500 52 week low was 839.80....so any support like 867.05 is HIGHER low.....
Markets are presenting an opportunity of CENTURY to buy good quality stocks in many sectors..
In my portfolio :
PHM Down 11 cents
NDN UP 29 cents
SOL UP 29 cents
RIMM Down 70 cents
UYG Down 67 cents
@ 11.39 AM following are green in my watch list :
STP,WFR,V,ICE,YHOO,LVS,SPWRA,FSLR,ISRG,
IBN,CMED,DUG,SDS,DXD.
BLOG does NOT give buy or sell.
Saleem
Wednesday, October 15, 2008
S&P 500 Down 9.03%....near 52 week low ???
Markets are extremely jittery with any negative comment by Fed chief on economy......
Ben Bernanke was very clear that it will take time for economy to recover...market took that comment and started RETESTING of support/low......
As of today's close we are awfully close to the 52 week low on all indices...details are given below :
Dow 695.40 from low
S&P 500 68.04 from low
NASDAQ 85.88 from low
Today's close was brutal...BUT there ARE some bright spot in internals.....
-Volume was LOW on both NYSE @ 1.68 billion & on NASDAQ @ 1.17 billion
-Decliners led by 8.27 to 1 on NYSE & 5.64 to 1 on NASDAQ......
-New low 185 on NYSE & 209 on NASDAQ...
-Down volume was 35.59 to 1 on NYSE & 47.67 to 1 on NASDAQ......this ratio was extremely negative.....
After factoring fair value Futures are :
Dow Down 169.91
S&P 500 Down 19.44
NASDAQ Down 29.23
The above IS an improvement from earlier levels......
Technicians always believe that their will be a RETEST of LOWS.....but nobody was predicting it to be this QUICK....in 72 hours????
How do you interpret above DATA is entirely up to you.......
Are we setting up for another wild ride on the UP side.......give it few hours & we will know the answer.....we are operating in NANOSECOND out of control markets.......both on the UP & DOWN mode.....
BLOG does NOT give buy or sell.
Saleem
Ben Bernanke was very clear that it will take time for economy to recover...market took that comment and started RETESTING of support/low......
As of today's close we are awfully close to the 52 week low on all indices...details are given below :
Dow 695.40 from low
S&P 500 68.04 from low
NASDAQ 85.88 from low
Today's close was brutal...BUT there ARE some bright spot in internals.....
-Volume was LOW on both NYSE @ 1.68 billion & on NASDAQ @ 1.17 billion
-Decliners led by 8.27 to 1 on NYSE & 5.64 to 1 on NASDAQ......
-New low 185 on NYSE & 209 on NASDAQ...
-Down volume was 35.59 to 1 on NYSE & 47.67 to 1 on NASDAQ......this ratio was extremely negative.....
After factoring fair value Futures are :
Dow Down 169.91
S&P 500 Down 19.44
NASDAQ Down 29.23
The above IS an improvement from earlier levels......
Technicians always believe that their will be a RETEST of LOWS.....but nobody was predicting it to be this QUICK....in 72 hours????
How do you interpret above DATA is entirely up to you.......
Are we setting up for another wild ride on the UP side.......give it few hours & we will know the answer.....we are operating in NANOSECOND out of control markets.......both on the UP & DOWN mode.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 Down 4.58%...so far !!!
Markets are again in a bearish mode......
S&P 500 is the weakest so far while NASDAQ & Dow down around 3.75%......
Credit markets & LIBOR are NOT easing up....which IS putting pressure on markets.....
This IS a surprise to me because world treasuries are doing their best to put a dent in these rates....
In my portfolio :
PHM Down $1.40
NDN Down 7 cents
SOL Down 51 cents
RIMM Down 90 cents
UYG Down 70 cents
@ 11.54 AM following are green in my watch list :
AAPL,ABX,DUG,SDS,DXD,QID......
BLOG does NOT give buy or sell.
Saleem
S&P 500 is the weakest so far while NASDAQ & Dow down around 3.75%......
Credit markets & LIBOR are NOT easing up....which IS putting pressure on markets.....
This IS a surprise to me because world treasuries are doing their best to put a dent in these rates....
In my portfolio :
PHM Down $1.40
NDN Down 7 cents
SOL Down 51 cents
RIMM Down 90 cents
UYG Down 70 cents
@ 11.54 AM following are green in my watch list :
AAPL,ABX,DUG,SDS,DXD,QID......
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 14, 2008
Nasdaq Down 3.54%???
Dow & S&P 500 were down less than 1%...But NASDAQ took on the chin by being down 3.54%....
Reason for NASDAQ weakness was the jitter with INTC ER.....traders were very nervous that INTC ER will be below expectations and they will warn way lower in guidance....there was also concern about margins.....Guess what !!!margins are staying as per INTC original guidance ..only Sales were tweaked down for Q4....all in all a very good ER considering commotion in world economies....
So after IBM..INTC gave much better than feared ER & guidance...they are taken as the leading indicator of technology stocks ....
INTC UP AH...
RIMM UP AH...
AAPL UP AH.....
Markets MAY resume its UPTREND on Wednesday...as Dow & S&P 500 took all the selling in stride.....
Gold stocks were strong......
BLOG does NOT give buy or sell.
Saleem
Reason for NASDAQ weakness was the jitter with INTC ER.....traders were very nervous that INTC ER will be below expectations and they will warn way lower in guidance....there was also concern about margins.....Guess what !!!margins are staying as per INTC original guidance ..only Sales were tweaked down for Q4....all in all a very good ER considering commotion in world economies....
So after IBM..INTC gave much better than feared ER & guidance...they are taken as the leading indicator of technology stocks ....
INTC UP AH...
RIMM UP AH...
AAPL UP AH.....
Markets MAY resume its UPTREND on Wednesday...as Dow & S&P 500 took all the selling in stride.....
Gold stocks were strong......
BLOG does NOT give buy or sell.
Saleem
Markets digesting news & Gains....
Market are behaving well in light of heavy profit taking......
Dow & S&P 500 are in green while NASDAQ is down 1.23%.....
Markets will build from here as news from US & around the globe is extremely positive for supporting banking structure.....
Once loan/credit picture improves...market will move HIGHER...
It is a very good time to build a strong diversified portfolio........
In my portfolio :
Bought UYG ..an ultra pro financial ETF..my cost $12.40
Bought NDN....a low end retailer for tough times..sells most things for 99 cents..my cost $10.74
PHM Down 37 cents
NDN Down 34 cents
SOL Down 43 cents
RIMM Down $1.66 cents
UYG UP $1.39
@ 11.49 AM following are green in my watch list :
HFU.TO,IPI,AAPL,KGC,C,TKC,IGT,NDAQ,
MA,SAY,AUY,ABX,GG,AEM,VLO,FSLR(upgraded),
SPWRA,ISRG,XLF,SNE,GS,IBN,FWLT.
BLOG does NOT give buy or sell.
Saleem
Dow & S&P 500 are in green while NASDAQ is down 1.23%.....
Markets will build from here as news from US & around the globe is extremely positive for supporting banking structure.....
Once loan/credit picture improves...market will move HIGHER...
It is a very good time to build a strong diversified portfolio........
In my portfolio :
Bought UYG ..an ultra pro financial ETF..my cost $12.40
Bought NDN....a low end retailer for tough times..sells most things for 99 cents..my cost $10.74
PHM Down 37 cents
NDN Down 34 cents
SOL Down 43 cents
RIMM Down $1.66 cents
UYG UP $1.39
@ 11.49 AM following are green in my watch list :
HFU.TO,IPI,AAPL,KGC,C,TKC,IGT,NDAQ,
MA,SAY,AUY,ABX,GG,AEM,VLO,FSLR(upgraded),
SPWRA,ISRG,XLF,SNE,GS,IBN,FWLT.
BLOG does NOT give buy or sell.
Saleem
Monday, October 13, 2008
Dow UP 11.08%.....closed @ 9387.61
Markets staged a "stunning rally"with advancing volume was ahead by 35.56 to 1 on NASDAQ & 18.96 to 1 on NYSE......
Every sector except Gold participated in this HUGE RUNUP......
Today's gain of 11.58% on S&P 500 is highest one day gain in decades......
Volume was respectable also ...considering it was Columbus day in US & Thanksgiving holiday in Canada.......
This kind of RUNUP does NOT end in a day......this IS a TURNAROUND which will take index much HIGHER with normal profit taking.....
Please do NOT pay attention to PUNDITS who said NOT to buy CHK yesterday which went UP 22.28% in reg hours...... and now telling everyone to buy AH...complete FLIP FLOP in 24 hours....
Also pundit Jimmy the Cramer is saying that we could have a 900 point drop also in a day.....what a thoughtless nonsense...we NEVER dropped 900 in recent mayhem..so what could create this kind of drop NOW?????
So please.... use a well defined strategy which suits you & your circumstances.....
CNBC believes that everyone is a 5 minute daytrader..based on thesis being presented by Fast/Mad money....
Markets are on the mend based on major effort on the part of EU,US,Middle East,Asia,China & Australia......
It is very nice to see that world has "come TOGETHER" in dealing with financial crisis..which was hurting everybody around the globe......
BLOG does NOT give buy or sell.
Saleem
Every sector except Gold participated in this HUGE RUNUP......
Today's gain of 11.58% on S&P 500 is highest one day gain in decades......
Volume was respectable also ...considering it was Columbus day in US & Thanksgiving holiday in Canada.......
This kind of RUNUP does NOT end in a day......this IS a TURNAROUND which will take index much HIGHER with normal profit taking.....
Please do NOT pay attention to PUNDITS who said NOT to buy CHK yesterday which went UP 22.28% in reg hours...... and now telling everyone to buy AH...complete FLIP FLOP in 24 hours....
Also pundit Jimmy the Cramer is saying that we could have a 900 point drop also in a day.....what a thoughtless nonsense...we NEVER dropped 900 in recent mayhem..so what could create this kind of drop NOW?????
So please.... use a well defined strategy which suits you & your circumstances.....
CNBC believes that everyone is a 5 minute daytrader..based on thesis being presented by Fast/Mad money....
Markets are on the mend based on major effort on the part of EU,US,Middle East,Asia,China & Australia......
It is very nice to see that world has "come TOGETHER" in dealing with financial crisis..which was hurting everybody around the globe......
BLOG does NOT give buy or sell.
Saleem
Dow @ 8934...UP 483 $$$$
Markets are strong today based on quick ACTION by EU,England,Australia,Saudi Arabia,UAE,Pakistan.....
US is still busy on TV talking about a plan which is yet to be IMPLEMENTED...
We must thank rest of the world for this rally.... who took decisive ACTION already..no bureaucratic FORMAT anywhere ..democracy or kingdom.....
Is this INACTION in US sign of incompetence????
In my portfolio :
Added PHM ..my cost went down to $13.16
PHM Down 20 cents
RIMM UP $3.70....RIMM announced selling of Blackberry Flip phone starting today @ T Mobile in US...This is the first Flip version of Blackberry...
SOL UP 67 cents
@ 11.55 AM following are green in my watch list :
AAPL(upgraded),UYG,IPI,NDN,STP,JASO,SOLF,WFR,V,
POT,AGU,MON,C,CTRN,ICE,CCJ,JRCC,NDAQ,WYNN,
MA,BIDU,LVS,SOHU,NYX,SAY,VLO,SPWRA,FSLR,
ISRG(upgraded),SNE,GS,VAR,IBN,GOOG,FWLT.
BLOG does NOT give buy or sell.
Saleem
US is still busy on TV talking about a plan which is yet to be IMPLEMENTED...
We must thank rest of the world for this rally.... who took decisive ACTION already..no bureaucratic FORMAT anywhere ..democracy or kingdom.....
Is this INACTION in US sign of incompetence????
In my portfolio :
Added PHM ..my cost went down to $13.16
PHM Down 20 cents
RIMM UP $3.70....RIMM announced selling of Blackberry Flip phone starting today @ T Mobile in US...This is the first Flip version of Blackberry...
SOL UP 67 cents
@ 11.55 AM following are green in my watch list :
AAPL(upgraded),UYG,IPI,NDN,STP,JASO,SOLF,WFR,V,
POT,AGU,MON,C,CTRN,ICE,CCJ,JRCC,NDAQ,WYNN,
MA,BIDU,LVS,SOHU,NYX,SAY,VLO,SPWRA,FSLR,
ISRG(upgraded),SNE,GS,VAR,IBN,GOOG,FWLT.
BLOG does NOT give buy or sell.
Saleem
Sunday, October 12, 2008
Now that markets have crashed...what NEXT ????
Markets have crashed beyond belief......
Low on Dow was 7773.71...far cry from 14,168.50 only a year ago....a 45.13% decline......
Let us analyze if 45.13% decline is justified based on fundamentals of any economy world wide...Unemployment in most developed economies are between 6.5% to 7.5%......which is only a 1% LOWER than US & Canadian NORM.........
So why 45.13% decline in stock markets???
Well....some economists are predicting an 8% unemployment when everything is said & done in US downturn.......
So ...even if we take a worse case scenario..which is IMPROBABLE in my thinking of 8% more like 7%+......it is a RECESSION.....
Recession has NEVER created a 45.13% decline in stock market...usually 20% to 30% decline is more like it......
So..Why this carnage of 45.13%.........
Because ...most media & analysts are taking this "financial crisis" into an "economic crisis"which they are factoring a DEPRESSION......
I challenge this assertion completely........
This is a financial crisis ONLY ...where Banks are caught with their STUPIDITY & GREED with a callous disregard to working RATIOS......
I firmly believe that this financial CRISIS is on its last LEG...........
Every country is involved in INJECTING liquidity on a massive scale.....details of which is EVIDENT daily......
Pakistan has reduced the deposit ratio for all banks so they can lend more....from 9% deposit ratio to 7% can pump lot of liquidity in any system.....2% of trillions is lot of money......
There is a Hysteria on TV & Newspapers and shorts are playing this crisis to the hilt....good for them......
If level headed investors & traders wants to sell AAPL,RIMM,LDK,SOL,IBM @ these prices .......then do NOT blame CNBC,Cramer,WSJ...they are NOT known for investing SAVVY...
Try to understand the fundamentals of economy which IS pretty healthy & companies which have growing business & BILLIONS in balance sheet.......
Guess what ...we are FOUR months away from housing bottom.....in my knowledge based OPINION.....
Markets anticipates housing turnaround...which IS the root cause of this "FREE MONEY culture"
Markets are "on the verge of a major TURNAROUND"
All the financial problems have been played UP to the hilt......
So.....
You have a choice of taking cues from momentum traders who change their mind every 5 minutes or start looking @ biggest bargain since 1930....
CNBC is the biggest "culprit" in playing UP all the issues from 4AM to 10PM...not a service to investors/traders......
45.13 % decline has exaggerated all the issues to the MAX......
Financial crisis is coming to an end ........
All the policy decisions is/are ready to be implemented.....
4 weeks from now ...all the talk will be on CNBC as to how much CREDIT has eased & 2,5,10 year rates & LIBOR are near LOWS......
So ...you can be an investor and show faith in many companies who are sitting with $billions...like MSFT $23 Billion ,AAPL $10 billion,RIMM $2 billion......these are serious change to continue in their growth path....
It is TIME to get away from GLOOM & DOOM talk......
Great companies are selling @ record LOW prices.......
What are you waiting for......
All Clear.......
Then stock prices will be 25%+ HIGHER.......
Please do your OWN due diligence & find companies you are comfortable with.....Investing is NOT selling @ low & buying @ high.....it is REVERSE.....
Think 6 months from NOW.......
All this doom talk will be GONE then......
BLOG does NOT give buy or sell.
Saleem
Low on Dow was 7773.71...far cry from 14,168.50 only a year ago....a 45.13% decline......
Let us analyze if 45.13% decline is justified based on fundamentals of any economy world wide...Unemployment in most developed economies are between 6.5% to 7.5%......which is only a 1% LOWER than US & Canadian NORM.........
So why 45.13% decline in stock markets???
Well....some economists are predicting an 8% unemployment when everything is said & done in US downturn.......
So ...even if we take a worse case scenario..which is IMPROBABLE in my thinking of 8% more like 7%+......it is a RECESSION.....
Recession has NEVER created a 45.13% decline in stock market...usually 20% to 30% decline is more like it......
So..Why this carnage of 45.13%.........
Because ...most media & analysts are taking this "financial crisis" into an "economic crisis"which they are factoring a DEPRESSION......
I challenge this assertion completely........
This is a financial crisis ONLY ...where Banks are caught with their STUPIDITY & GREED with a callous disregard to working RATIOS......
I firmly believe that this financial CRISIS is on its last LEG...........
Every country is involved in INJECTING liquidity on a massive scale.....details of which is EVIDENT daily......
Pakistan has reduced the deposit ratio for all banks so they can lend more....from 9% deposit ratio to 7% can pump lot of liquidity in any system.....2% of trillions is lot of money......
There is a Hysteria on TV & Newspapers and shorts are playing this crisis to the hilt....good for them......
If level headed investors & traders wants to sell AAPL,RIMM,LDK,SOL,IBM @ these prices .......then do NOT blame CNBC,Cramer,WSJ...they are NOT known for investing SAVVY...
Try to understand the fundamentals of economy which IS pretty healthy & companies which have growing business & BILLIONS in balance sheet.......
Guess what ...we are FOUR months away from housing bottom.....in my knowledge based OPINION.....
Markets anticipates housing turnaround...which IS the root cause of this "FREE MONEY culture"
Markets are "on the verge of a major TURNAROUND"
All the financial problems have been played UP to the hilt......
So.....
You have a choice of taking cues from momentum traders who change their mind every 5 minutes or start looking @ biggest bargain since 1930....
CNBC is the biggest "culprit" in playing UP all the issues from 4AM to 10PM...not a service to investors/traders......
45.13 % decline has exaggerated all the issues to the MAX......
Financial crisis is coming to an end ........
All the policy decisions is/are ready to be implemented.....
4 weeks from now ...all the talk will be on CNBC as to how much CREDIT has eased & 2,5,10 year rates & LIBOR are near LOWS......
So ...you can be an investor and show faith in many companies who are sitting with $billions...like MSFT $23 Billion ,AAPL $10 billion,RIMM $2 billion......these are serious change to continue in their growth path....
It is TIME to get away from GLOOM & DOOM talk......
Great companies are selling @ record LOW prices.......
What are you waiting for......
All Clear.......
Then stock prices will be 25%+ HIGHER.......
Please do your OWN due diligence & find companies you are comfortable with.....Investing is NOT selling @ low & buying @ high.....it is REVERSE.....
Think 6 months from NOW.......
All this doom talk will be GONE then......
BLOG does NOT give buy or sell.
Saleem
Saturday, October 11, 2008
BUY rated stocks for " Bear market "
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
BIOS,ISLE,QGX.TO,AFFY,IPCM,IPHS,RHIE,ZUMZ,ALK,
CAJ,DAI,DYN,TU,RAK,SHA,BPO.TO.
Next post by 10AM Sunday.
BLOG does NOT give buy or sell.
Saleem
BIOS,ISLE,QGX.TO,AFFY,IPCM,IPHS,RHIE,ZUMZ,ALK,
CAJ,DAI,DYN,TU,RAK,SHA,BPO.TO.
Next post by 10AM Sunday.
BLOG does NOT give buy or sell.
Saleem
Technically STRONG stocks for " Bear market "
Following stocks are showing technical strength based on various formations.Please do your OWN due diligence by checking FA/TA/TAPE.
CMN,WVCM.......
BLOG does NOT give buy or sell.
Saleem
CMN,WVCM.......
BLOG does NOT give buy or sell.
Saleem
Technically WEAK stocks for " Bear market "
Following stocks are showing technical weakness based on various formations.Please do your own due diligence by checking FA/TA/TAPE.....
CYBX,AEM,LTD,BOOM,MBI,AMZN,MBLX,CLDA,
WMT,PBH,IOC,VHI.
BLOG does NOT give buy or sell.
Saleem
CYBX,AEM,LTD,BOOM,MBI,AMZN,MBLX,CLDA,
WMT,PBH,IOC,VHI.
BLOG does NOT give buy or sell.
Saleem
Friday, October 10, 2008
Nasdaq closed GREEN......
Markets had a memorable tape today......
Dow low 7882.51 closed 8451.19.....a range of 1018.77 from low to high of 8901.28......
52 week low list was absolutely horrendous ..on NYSE 2477 on NASDAQ 1651....
Historians were saying that this was the-worst week EVER.....Down 18.2% in a week....
Close was encouraging...if we get a strong market by close on Monday..then this turnaround IS confirmed........
This is no ordinary bear market.....we are witnessing a horrendous bear which followed no TECHNICALS or FUNDAMENTALS.......
By 10 AM Saturday...I will list technically WEAK/STRONG/BUY rated stocks.
BLOG does NOT give buy or sell.
Saleem
Dow low 7882.51 closed 8451.19.....a range of 1018.77 from low to high of 8901.28......
52 week low list was absolutely horrendous ..on NYSE 2477 on NASDAQ 1651....
Historians were saying that this was the-worst week EVER.....Down 18.2% in a week....
Close was encouraging...if we get a strong market by close on Monday..then this turnaround IS confirmed........
This is no ordinary bear market.....we are witnessing a horrendous bear which followed no TECHNICALS or FUNDAMENTALS.......
By 10 AM Saturday...I will list technically WEAK/STRONG/BUY rated stocks.
BLOG does NOT give buy or sell.
Saleem
S&P 500 Low today 839.80..Down 69.39 from Thursday low....
Markets swoon continues today......
VIX currently @ 72.41.....new highs hitting today also.....
Fear is NOT subsiding.......
Market NEEDS to close @ healthier level to bolster confidence....
This is a tough environment in markets.....which needs some catalyst to change the psychology...
Financials tried to give boost to the markets..& MAY give some hope by close......
In my portfolio :
PHM Down 4 cents
RIMM Down $5.01
SOL Down 28 cents
@ 12.15 the following are green in my watch list :
AAPL,ULTA,C,ICE,JRCC,IGT,BIDU,LVS,SOHU,
NYX,VLO,HOD.TO,DUG,QID,SDS,DXD.
BLOG does NOT give buy or sell.
Saleem
VIX currently @ 72.41.....new highs hitting today also.....
Fear is NOT subsiding.......
Market NEEDS to close @ healthier level to bolster confidence....
This is a tough environment in markets.....which needs some catalyst to change the psychology...
Financials tried to give boost to the markets..& MAY give some hope by close......
In my portfolio :
PHM Down 4 cents
RIMM Down $5.01
SOL Down 28 cents
@ 12.15 the following are green in my watch list :
AAPL,ULTA,C,ICE,JRCC,IGT,BIDU,LVS,SOHU,
NYX,VLO,HOD.TO,DUG,QID,SDS,DXD.
BLOG does NOT give buy or sell.
Saleem
Thursday, October 9, 2008
CRASH........
Stock market crashed today to 5 years LOW.......
S&P 500 closed @ 909.92 Down 7.62%.....
VIX closed @ 63.92 +11.11%...highest close Since Oct 87....
New 52 week low on NYSE 1615 & on NASDAQ 1010....
This market has been oversold since JULY......
This market is NOT following old OVERSOLD definition.....
NASDAQ was the best performer down only 5.47%......
Financials were decimated.....
GM is in intensive care......
Friday MAY see some kind of REBOUND by close...I hope !!!!!
BLOG does NOT give buy or SELL.
Saleem
S&P 500 closed @ 909.92 Down 7.62%.....
VIX closed @ 63.92 +11.11%...highest close Since Oct 87....
New 52 week low on NYSE 1615 & on NASDAQ 1010....
This market has been oversold since JULY......
This market is NOT following old OVERSOLD definition.....
NASDAQ was the best performer down only 5.47%......
Financials were decimated.....
GM is in intensive care......
Friday MAY see some kind of REBOUND by close...I hope !!!!!
BLOG does NOT give buy or SELL.
Saleem
S&P 500 undercuts old low AGAIN by 10.08 points or 1.04% ???
Markets are still showing fear & lack of confidence as margin calls are enforced on a daily basis because we closed LOWER & going to NEW LOWS daily.....lows begets more margin calls for hedge funds & retail.....
This vicious cycle of selling will stop only when we close HIGHER.......Could today be the first day of closing higher...remains to be seen.....
The good news is that Techs,Solar ,Ag,Medical Device maker have found support and are hungry to go higher even in bad tape......so it IS a stock pickers market from hereon.......pay attention to TAPE NOT indices....IGNORE CNBC pundits sell,sell,sell mantra...it IS buy,buy,buy NOW......
In my portfolio :
Added more SOL..cost went down to $12.05
PHM Down 52 cents
RIMM UP $3.25 cents
SOL Up 25 cents
@ 11.50 AM the following are green in my watch list :
AAPL,POT,BRC,JNPR,STP,JASO,WFR,V,CCJ,JRCC,
WYNN,NDAQ,MA,BIDU,SOHU,SPWR,FSLR,ISRG,
SNE,GOOG,FWLT,CSIQ,AGU,QLD,DUG,IPI,LDK,
SNDK.
BLOG does NOT give buy or sell.
Saleem
This vicious cycle of selling will stop only when we close HIGHER.......Could today be the first day of closing higher...remains to be seen.....
The good news is that Techs,Solar ,Ag,Medical Device maker have found support and are hungry to go higher even in bad tape......so it IS a stock pickers market from hereon.......pay attention to TAPE NOT indices....IGNORE CNBC pundits sell,sell,sell mantra...it IS buy,buy,buy NOW......
In my portfolio :
Added more SOL..cost went down to $12.05
PHM Down 52 cents
RIMM UP $3.25 cents
SOL Up 25 cents
@ 11.50 AM the following are green in my watch list :
AAPL,POT,BRC,JNPR,STP,JASO,WFR,V,CCJ,JRCC,
WYNN,NDAQ,MA,BIDU,SOHU,SPWR,FSLR,ISRG,
SNE,GOOG,FWLT,CSIQ,AGU,QLD,DUG,IPI,LDK,
SNDK.
BLOG does NOT give buy or sell.
Saleem
Wednesday, October 8, 2008
970.97 on S&P 500 COULD be bear market low???
Today we had all the ingredient for markets to stage a "major rally"......
BUT.....
Rally failed by close????
Today 52 week lows set a new record ...on NYSE had 1842 & NASDAQ had 1161.....
Even though we hit new lows ....We have all the ingredient in-place for a major UP move......
Markets have discounted "severe recession".....
Lot of selling were initiated on the fear of new rules after shorting of financials have expired tonight......
Based on CNBC shorting will be allowed starting Thursday.....
SEC should insist & monitor borrowing of stocks before shorting...thus no issue of Failure To Deliver shares.....
IBM pre-announced better ER....as its stock was also trashed to new 52 week low on rumour of a miss....IBM lost $40 per share from its high...AH UP $4.50 @ bid......
BLOG does NOT give buy or sell.
Saleem
BUT.....
Rally failed by close????
Today 52 week lows set a new record ...on NYSE had 1842 & NASDAQ had 1161.....
Even though we hit new lows ....We have all the ingredient in-place for a major UP move......
Markets have discounted "severe recession".....
Lot of selling were initiated on the fear of new rules after shorting of financials have expired tonight......
Based on CNBC shorting will be allowed starting Thursday.....
SEC should insist & monitor borrowing of stocks before shorting...thus no issue of Failure To Deliver shares.....
IBM pre-announced better ER....as its stock was also trashed to new 52 week low on rumour of a miss....IBM lost $40 per share from its high...AH UP $4.50 @ bid......
BLOG does NOT give buy or sell.
Saleem
972.98 is the new low for S&P 500..another 2.33% slump...
Markets are trying to pick up the pieces from series of new daily lows .....
YES...It IS painful near/@ bottom ALWAYS.....
BUT...once we find "the-bottom"...it will be a QUICK melt UP......
I am much more comfortable with Fed & worldwide coordination......It WILL change the current psychology of fear & hopelessness.....very soon....
It is important to be COMFORTABLE with your holdings with your OWN fundamental analysis which MAY be changing rapidly....technicals do NOT matter near LOWS.....
In my portfolio :
PHM UP 21 cents
RIMM UP $2.50
SOL UP 14 cents
@ 11.55 AM the following are green in my watch list:
POT,AAPL,CMED,WFR,GG,SLV,NDAQ,WYNN,BIDU,
KGC,ABX,ISRG,HOD.TO,DUG,LDK,HPQ,SDS,DXD,MON.
BLOG does NOT give buy or sell.
Saleem
YES...It IS painful near/@ bottom ALWAYS.....
BUT...once we find "the-bottom"...it will be a QUICK melt UP......
I am much more comfortable with Fed & worldwide coordination......It WILL change the current psychology of fear & hopelessness.....very soon....
It is important to be COMFORTABLE with your holdings with your OWN fundamental analysis which MAY be changing rapidly....technicals do NOT matter near LOWS.....
In my portfolio :
PHM UP 21 cents
RIMM UP $2.50
SOL UP 14 cents
@ 11.55 AM the following are green in my watch list:
POT,AAPL,CMED,WFR,GG,SLV,NDAQ,WYNN,BIDU,
KGC,ABX,ISRG,HOD.TO,DUG,LDK,HPQ,SDS,DXD,MON.
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 7, 2008
S&P 500 undercuts old low by 11.74 points or 1.16% ....
Markets are showing "no confidence in any action/policy of Fed & Treasury"
Confidence is lacking...while Fed & Treasury keep coming up with new ideas to help the economy...
Stock markets are being sold off relentlessly due to fear & other issues......
Today Financials got creamed due to rumour about BAC & MS.....both got resolved after close...
England is also going to have its own rescue package tonight......
New 52 week low on NYSE is 995 on NASDAQ 641......
Futures are down AGAIN......
BLOG does NOT give buy or sell.
Saleem
Confidence is lacking...while Fed & Treasury keep coming up with new ideas to help the economy...
Stock markets are being sold off relentlessly due to fear & other issues......
Today Financials got creamed due to rumour about BAC & MS.....both got resolved after close...
England is also going to have its own rescue package tonight......
New 52 week low on NYSE is 995 on NASDAQ 641......
Futures are down AGAIN......
BLOG does NOT give buy or sell.
Saleem
Markets into base building mode...before major UP move !!!
Markets are building base around 10,000......
This will get all naysayers out..to absorb last sellers.....
Markets will get buyers gradually...once it gives the feel of being STABLE......
Close today CAN be meaningful if we get major BUYING.......
Fed has been doing everything to support this fragile economy & in the end they WILL succeed...
In my portfolio :
PHM Down 51 cents
RIMM UP 21 cents
SOL Down 21 cents
@ 11.45 AM the following are green in my watch list :
TRLG,VMW,CMED(new acquisition),GG,SLV,POT,
ICE,JRCC,SOHU,AUY,ABX,VAR,IPI,AGU,AMD.
GS decided to downgrade FSLR with a conviction Sell,SPWRA got a Sell also....based on future reduction of subsidies in Germany & Spain.....US solar tax credit was NOT mentioned as a huge positive?
BLOG does NOT give buy or sell.
Saleem
This will get all naysayers out..to absorb last sellers.....
Markets will get buyers gradually...once it gives the feel of being STABLE......
Close today CAN be meaningful if we get major BUYING.......
Fed has been doing everything to support this fragile economy & in the end they WILL succeed...
In my portfolio :
PHM Down 51 cents
RIMM UP 21 cents
SOL Down 21 cents
@ 11.45 AM the following are green in my watch list :
TRLG,VMW,CMED(new acquisition),GG,SLV,POT,
ICE,JRCC,SOHU,AUY,ABX,VAR,IPI,AGU,AMD.
GS decided to downgrade FSLR with a conviction Sell,SPWRA got a Sell also....based on future reduction of subsidies in Germany & Spain.....US solar tax credit was NOT mentioned as a huge positive?
BLOG does NOT give buy or sell.
Saleem
Monday, October 6, 2008
S&P 500 moved UP 48.92 points from Low of the day...NICE !!!
What a day in markets ......Dow down 806 points.......
VIX hit 11 year high of 58.24......
Some stat to keep in mind after each crash......
1987 crash......after 1 year market was UP 22.90%...after 2 years market was UP 54.30%
1990 Persian Gulf war...after 1 year market was UP 23.60%..after 2 years UP 31.30%
2003 invasion of Iraq...after 1 year market was UP 29.60%...after 2 years UP 31.40%
There are lot of fast talking pundits who would like you to believe that Stock market will keep going Down to 6,000 or any number in-between......These pundits are either SHORT....OR are out of market completely....thus expressing a thoughtless number based on NO TA or FA......
Markets turns around and move UP sharply when no one is expecting.......
Biggest move in markets are in the very first few weeks...when most of the OPINION junkies are OUT of the market......
So do your OWN historical analysis based on TA......
When thousands of stocks are making new LOWS daily on NYSE & NASDAQ...then CAPITULATION has happened based on history.....Today 1629 new lows on NYSE & 1097 new lows on NASDAQ....
BUT.....your OWN due diligence & comfort level is very important.......
BLOG does NOT give buy or sell.
Saleem
VIX hit 11 year high of 58.24......
Some stat to keep in mind after each crash......
1987 crash......after 1 year market was UP 22.90%...after 2 years market was UP 54.30%
1990 Persian Gulf war...after 1 year market was UP 23.60%..after 2 years UP 31.30%
2003 invasion of Iraq...after 1 year market was UP 29.60%...after 2 years UP 31.40%
There are lot of fast talking pundits who would like you to believe that Stock market will keep going Down to 6,000 or any number in-between......These pundits are either SHORT....OR are out of market completely....thus expressing a thoughtless number based on NO TA or FA......
Markets turns around and move UP sharply when no one is expecting.......
Biggest move in markets are in the very first few weeks...when most of the OPINION junkies are OUT of the market......
So do your OWN historical analysis based on TA......
When thousands of stocks are making new LOWS daily on NYSE & NASDAQ...then CAPITULATION has happened based on history.....Today 1629 new lows on NYSE & 1097 new lows on NASDAQ....
BUT.....your OWN due diligence & comfort level is very important.......
BLOG does NOT give buy or sell.
Saleem
Was 1027.18 on S&P 500 low of bear market????
S&P 500 low was 1027.18 today.......
Everyone wants to know if this IS the-LOW of bear market......???
VIX shot UP to 56.29....a nine year HIGH???
FEAR is @ extreme........
Bargains are @ extreme also......
Risk/reward ratio is very good......
In my portfolio :
Sold BRCM & JNPR.......
Bought more RIMM ....cost went down to $59.90
Bought more SOL.... cost went down to $13.19
Portfolio is PHM,RIMM & SOL......
BLOG does NOT give buy or sell.
Saleem
Everyone wants to know if this IS the-LOW of bear market......???
VIX shot UP to 56.29....a nine year HIGH???
FEAR is @ extreme........
Bargains are @ extreme also......
Risk/reward ratio is very good......
In my portfolio :
Sold BRCM & JNPR.......
Bought more RIMM ....cost went down to $59.90
Bought more SOL.... cost went down to $13.19
Portfolio is PHM,RIMM & SOL......
BLOG does NOT give buy or sell.
Saleem
Sunday, October 5, 2008
So..how bad IS the CARNAGE in markets......BAD !!!
Markets statistics are horrible......
DOW down 3,548 points......Down 24.8%
NASDAQ down 914 points..Down 31.95%
S&P 500 down 477 points..Down 30.33%
Based on history an average bear market is Down 29%.....definition of bear triggers @ 20% drop from the high.......
So ....based on historical average...we already are doing worse in NASDAQ & S&P 500...which are down record 31.95% & 30.33%.........Dow is 4% below historical norm.......
So......let us examine what caused this carnage.......
It was the financial system which abused the trust of investing climate......they were selling INFLATED papers as assets.... which was rated AAA by rating agencies......which was sold worldwide.......
So..when those asset backed securities started to come UNGLUED when real estate collapsed in US...there was NO buyer of this worthless paper........thus severely affecting banking/regulatory ratios to lend......in the process cash needed to be raised by everyone in trillions.....
To make a long & painful story of greed & exploitations...short.......Fed & worldwide Treasury officials are busy shoring UP liquidity in their banking system.......
Treasury in US will start buying these seized/frozen papers @ fair value to give much needed cash to the banks & other financial institutions...which WILL enhance their LENDING ratios and credit will FLOW better.....
September will be known as when credit availability in US FROZE.......
October will be known as when credit was EASED up.......
So...what about markets????
As usual markets overshoots on the DOWNSIDE...which was witnessed on Friday...when real solution to help the economy was sold off????
So.... who was RIGHT in predicting this carnage on wall street......
Louise Yamada accurately predicted Dow of 10,000 area which she said will HOLD.......
Carter Worth was accurate until 1,200 on S&P 500.....then predicted NO NEW LOWS......
IBD was also WRONG when they also WARMED UP around 1200 area on S&P 500 & several times earlier....
I was WRONG in my entire thesis that as long as one is NOT in financials ..things should be more than OK.....it was NOT......
Markets USUALLY looks ahead to FUTURE and starts moving UP after DISCOUNTING bad news scenarios......I think markets have discounted more than enough....
I personally LIKE to believe that we ARE @ such a JUNCTURE....where markets will SURPRISE on the UPSIDE........
Next 12 months will be much better than last 14 months.......
It is important to be positioned for an UPSIDE tape.......Being EARLY MAY not be such a bad idea...
Ensure your own COMFORT LEVEL & do your OWN due diligence when trading/investing.
BLOG does NOT give buy or sell.
Saleem
DOW down 3,548 points......Down 24.8%
NASDAQ down 914 points..Down 31.95%
S&P 500 down 477 points..Down 30.33%
Based on history an average bear market is Down 29%.....definition of bear triggers @ 20% drop from the high.......
So ....based on historical average...we already are doing worse in NASDAQ & S&P 500...which are down record 31.95% & 30.33%.........Dow is 4% below historical norm.......
So......let us examine what caused this carnage.......
It was the financial system which abused the trust of investing climate......they were selling INFLATED papers as assets.... which was rated AAA by rating agencies......which was sold worldwide.......
So..when those asset backed securities started to come UNGLUED when real estate collapsed in US...there was NO buyer of this worthless paper........thus severely affecting banking/regulatory ratios to lend......in the process cash needed to be raised by everyone in trillions.....
To make a long & painful story of greed & exploitations...short.......Fed & worldwide Treasury officials are busy shoring UP liquidity in their banking system.......
Treasury in US will start buying these seized/frozen papers @ fair value to give much needed cash to the banks & other financial institutions...which WILL enhance their LENDING ratios and credit will FLOW better.....
September will be known as when credit availability in US FROZE.......
October will be known as when credit was EASED up.......
So...what about markets????
As usual markets overshoots on the DOWNSIDE...which was witnessed on Friday...when real solution to help the economy was sold off????
So.... who was RIGHT in predicting this carnage on wall street......
Louise Yamada accurately predicted Dow of 10,000 area which she said will HOLD.......
Carter Worth was accurate until 1,200 on S&P 500.....then predicted NO NEW LOWS......
IBD was also WRONG when they also WARMED UP around 1200 area on S&P 500 & several times earlier....
I was WRONG in my entire thesis that as long as one is NOT in financials ..things should be more than OK.....it was NOT......
Markets USUALLY looks ahead to FUTURE and starts moving UP after DISCOUNTING bad news scenarios......I think markets have discounted more than enough....
I personally LIKE to believe that we ARE @ such a JUNCTURE....where markets will SURPRISE on the UPSIDE........
Next 12 months will be much better than last 14 months.......
It is important to be positioned for an UPSIDE tape.......Being EARLY MAY not be such a bad idea...
Ensure your own COMFORT LEVEL & do your OWN due diligence when trading/investing.
BLOG does NOT give buy or sell.
Saleem
Saturday, October 4, 2008
BUY rated stocks for "BOTTOM of Bear market "
Following stocks are flashing buy signal.Please do your OWN analysis of FA/TA/TAPE.
BIIB,CALC,HBAN,LSCG,DF,GPN,PGN,STI,WWY,BTI.
Next post Sunday by 10AM.
BLOG does NOT give buy or sell.
Saleem
BIIB,CALC,HBAN,LSCG,DF,GPN,PGN,STI,WWY,BTI.
Next post Sunday by 10AM.
BLOG does NOT give buy or sell.
Saleem
Technically STRONG stocks for "BOTTOM of Bear market "
Following stocks are showing technical strength based on various formations.Please do your OWN analysis of FA/TA/TAPE.
MBT.TO,KO,PFE,STAR,DLIA,PVSW,SPIR.
BLOG does NOT give buy or sell.
Saleem
MBT.TO,KO,PFE,STAR,DLIA,PVSW,SPIR.
BLOG does NOT give buy or sell.
Saleem
Technically WEAK stocks for "BOTTOM of Bear market "
Following stocks are showng technical weakness based on various formations.Please do your OWN analysis of FA/TA/TAPE.
BRCD,LEN,TOL,HD,MBI,RYL,AMR,RIGL,FDP,
HLS,PAY,LXK,AAP,TNB,WIRE,LUX.
BLOG does NOT give buy or sell.
Saleem
BRCD,LEN,TOL,HD,MBI,RYL,AMR,RIGL,FDP,
HLS,PAY,LXK,AAP,TNB,WIRE,LUX.
BLOG does NOT give buy or sell.
Saleem
Friday, October 3, 2008
New 52 week LOW for markets...after reversal ???
Markets did a complete U turn after passing of rescue package......
329 points gain turned into 157 points loss.....a 486 point round trip???
I have NO idea why this selling came??
Technically we are NOT looking good.....
Market is hoping for 50 basis cut in fed funds rate on Monday......will that put a BOTTOM in place? that needs to be seen.......
In my portfolio :
Sold TRLG,VMW & NVDA.....
Bought more RIMM cost went down to $62.45
Portfolio is BRCM,JNPR,PHM,RIMM,SOL......
I have reduced my exposure to market based on WEAK TAPE.......
By 10 AM Saturday I will list technically weak/strong/buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
329 points gain turned into 157 points loss.....a 486 point round trip???
I have NO idea why this selling came??
Technically we are NOT looking good.....
Market is hoping for 50 basis cut in fed funds rate on Monday......will that put a BOTTOM in place? that needs to be seen.......
In my portfolio :
Sold TRLG,VMW & NVDA.....
Bought more RIMM cost went down to $62.45
Portfolio is BRCM,JNPR,PHM,RIMM,SOL......
I have reduced my exposure to market based on WEAK TAPE.......
By 10 AM Saturday I will list technically weak/strong/buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Markets are looking beyond vote & weak economy !!!
Markets as expected shrugged off bad news on job loss...as we are on the tail end of bad news in employment.....we probably have one more month of bad data...then improving scenario on a comparative basis.....
Markets always looks ahead...it MAY be looking @ improving picture in economy a year from now.....just the REVERSE of what it did last October......
Most stocks are UP in my portfolio except for VMW..which is slightly down......No change in my portfolio which remains BRCM,JNPR,NVDA,PHM,RIMM,SOL,TRLG & VMW...
Ag is coming back...
Oil & Nat gas are coming back...
Coal is strong.....
Gold is coming back.....
Big techs are strong...
Solar is strong......
Financial are strong except C
BLOG does NOT give buy or sell.
Saleem
Markets always looks ahead...it MAY be looking @ improving picture in economy a year from now.....just the REVERSE of what it did last October......
Most stocks are UP in my portfolio except for VMW..which is slightly down......No change in my portfolio which remains BRCM,JNPR,NVDA,PHM,RIMM,SOL,TRLG & VMW...
Ag is coming back...
Oil & Nat gas are coming back...
Coal is strong.....
Gold is coming back.....
Big techs are strong...
Solar is strong......
Financial are strong except C
BLOG does NOT give buy or sell.
Saleem
Subscribe to:
Posts (Atom)