Markets are doing RETEST of lows......S&P 500 went down to 1122.04...15+ from 52wk low.....
Market is also waiting for house vote on Friday.....
There is a general understanding that economy has slowed down worldwide & it will be a slow climb up to normal level.....
In my portfolio :
Bought TRLG cost $24.25.....
Portfolio is BRCM,JNPR,NVDA,PHM,PMCS,SOL,TRLG,VMW......
JNPR was downgraded again and it hit 52 wk low on concern of macro issues of growth going forward.....
Ag sector got a jolt after MOS ER last night with inventory build up.......
Semis are down as there is report of weak demand......which IS factored in semi stock prices???
Solar are also in a "waiting for news mode"...are down with market selling.......
Today market is trying to give message to House to get it together or else.....
BLOG does NOT give buy or sell.
PS...sorry for delay as my friends & relatives were on the phone for holiday greeting.
Saleem
7 comments:
hi saleem
welcome back.
the market is so bad. i dont undestand the sell off. it seems people see recession all over the world. the congress is bit late in passing the bail out. i just cant believe that so many stocks are sold off. i still hold rimm. i have added 100 shares of mos too. i am just waiting for a bounce to make some money.
we all have to be little careful. i hope us economy will overcome with help of 700 billion bail out.
good luck to you
steve
Hi Steve,
This IS a very difficult market ...I have faced ever....
It is hard to make money with any strategy.....
So ...I wait and stay in many stocks...because I am not sure which ones will move anymore.
Good luck with MOS & RIMM.
Saleem
STEVE
Way to go---make some money on MON and congratulations that will earn some money
C
Hi All,
News - Accounting rule changes for financials. Sec has changed rules from mark to market to mark to cash flow. Instead of discounting all holdings (mark to market), they will mark to the cash flow (the amount of mortgages being paid on time). This is a BIG change. Earnings will improve rapidly as I see it.
Best Regards
Hi Standards,
Thanks for the info for the mark to cash flow...that make sense.
Saleem
standards
Could you say that again
I do not understand
Thanks
My FRO and AAPL got creamed today
Crapper
Gas in DC was $3.50 a gallon
Hi C,
As I understand how it works now. A bank has 1000 homes, if it sells one below market, then all property must be marked down to match the one sold property even though the rest are up to date in mortgage payments. Duh? The change will allow the banks to mark to cash flow (the actual mortgage payments coming in). Just a slight change, but a big change on results on paper.
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