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
7 comments:
Damn, I froze on CMED today... Watched it slipped without selling. I am definitely rusty.
Bought CCJ (uranium play) at 13.25 It was either that or HLX or LDK.
Glad I own GEOY, was green part of the day, even in this market.
This market is not for weak hearts...
Hi Frogvest,
This is a tough market...so do not be hard on yourself.
CCJ is a great company....price of uranium needs to come out of funk.
Saleem
Hi all
It looks like AAPL is good buy .Trade ORCL few times bring down average 17.For to morrow will play AAPL.ORCL,CSCO.BAC. fwlt...but all depends on ist hr .
Thanxs.
Hi Ds,
Good luck with your strategy.
Saleem
hello all
good luck to all
Here is news on AAPL:
Okay, things are getting silly again in the stock market. Stocks are being taken out and shot indiscriminately because of the Giant Hedge Fund Liquidation, regardless of quality. Many, if not most stocks, are now on sale.
Take Apple (AAPL), which reported a great quarter Wednesday but gave conservative guidance (as it usually does).
click to enlarge
Apple closed Wednesday at a shade under $97. It has 887 million shares and a market cap of $86 billion. As of the end of the most recent quarter, the company had $24.5 billion in cash and no debt. Thus, net cash per share is $27. Cash is 28% of the company's market capitalization.
The company earned $5.48 over the past 12 months. On trailing earnings, Apple is trading at 17.7x earnings. Net cash, the stock is trading at $70 per share. Apple is trading at 12.8x trailing earnings net of cash.
Analysts are expecting the company to earn $6.50 next year. At $97, the stock is trading at 14.9x earnings. Net cash, the stock is trading at 10.8x earnings. Let's say analysts' estimates are too high. Instead, Apple earns $6. On that number, the stock is trading at 11.7x earnings.
Right now, Apple is perhaps the greatest consumer company in the world. Well, if not the greatest consumer company, then certainly the greatest consumer technology company. 10x-12x earnings net of cash seems down right cheap to me. Does that matter? No, of course not. Valuation means squat in the short term. The stock could fall to $50 for all I know, especially given the irrational selling that is hammering the market almost every day.
I'm not buying the stock now, nor am I recommending anyone buy anything at the moment (even though I have been buying). But great values are being created all over the market for anyone having a time horizon longer than a week.
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