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
at

5 comments:

  1. dslnbullOctober 27, 2008 at 8:51 PM

    Hi SALIM ,all

    why do you like UYG ??It looks cheap but looks dagerous.It seems like manipulation in the market. I expect V shape recovery. but small ivestors will ot there to make moey. Last 10 minutes ,dow 210 points????Is it normal???I do not think so. Thanxs.

    ReplyDelete
  2. madmaxOctober 28, 2008 at 4:40 AM

    SALEEM

    Good Morning
    Looks like a positive open

    Good luck on positions

    Buying any gold or oils?

    Me got QLD, FRO, DSX, AAPL and RIMM
    Cheers to all
    M

    ReplyDelete
  3. Stocks100October 28, 2008 at 4:54 AM

    Hi Ds,

    I like UYG....because no rally can take hold unless financials participate......this is double play on financials.

    Bottom is formed when shorts are very confident & get trapped...so a huge "short covering"

    Saleem

    ReplyDelete
  4. Stocks100October 28, 2008 at 4:55 AM

    Hi Madmax,

    Huge rally today $$$$$

    Saleem

    ReplyDelete
  5. dslnbullOctober 28, 2008 at 5:10 AM

    Hi salim all
    Just sold big chunk at8.07. I know it will go up but i want piece of mind.Yesterday i was down big but now safe.No positio.I was 100 % mrgin thats the reaso i am out.good luck to all.

    ReplyDelete