Thursday, October 9, 2008

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
at

9 comments:

  1. dslnbullOctober 9, 2008 at 9:09 AM

    Hi salim all

    I think it is time to buy solor sector. Bought, MSFT,,BAC LDK. thanxs.

    ReplyDelete
  2. Stocks100October 9, 2008 at 9:12 AM

    Hi Ds,

    Good luck on your trades.....

    Yes...tie to buy is NOW before the HERD !!!

    Saleem

    ReplyDelete
  3. madmaxOctober 9, 2008 at 10:40 AM

    Ds

    Wow good pick on LDK up $1.41

    Stocks re so way over sold here

    I am betting on a green close

    Any one else care to voice an opinion

    M

    ReplyDelete
  4. madmaxOctober 9, 2008 at 10:51 AM

    TO ALL

    Why I like MON:Credit Suisse Rating
    since October 09, 2008
    Click here for recent Credit Suisse equity research reports

    Credit Suisse has been added to our line-up of independent research providers, replacing Goldman Sachs
    Learn More
    Argus 12 Month Rating
    since June 05, 2008
    Standard & Poor's Opinion
    since October 07, 2008
    Reuters Research Average Rating
    since October 06, 2008
    Market Edge Second Opinion ®
    Comments appreciated!

    MON will bring a nice return here!
    M

    ReplyDelete
  5. madmaxOctober 9, 2008 at 10:57 AM

    SORRY

    MON is rated as an outperform

    JMHO it is a buy

    great day trade too

    ReplyDelete
  6. standardshighOctober 9, 2008 at 12:18 PM

    Hi all,

    Looks like capitulation coming up.

    SEC should have extended short rule.

    ReplyDelete
  7. standardshighOctober 9, 2008 at 12:31 PM

    Hi All,

    Bought SOL avg cost $12.25

    Have a great day

    ReplyDelete
  8. Stocks100October 9, 2008 at 1:09 PM

    Hi Standards,

    We think alike.....

    Good luck with SOL !!!

    Saleem

    ReplyDelete
  9. standardshighOctober 9, 2008 at 1:39 PM

    Hi Saleem,

    Thanks, you too.

    Not sure if this is the end. A down spike will trip many margin calls leading to further downside risk. On a normal correction, this would be past the point of oversold. But this is not a normal time period. The elimination of the uptick rule by special interests last year was a very bad decision. Now there are no checks and balances. We could be at 8000 by Friday afternoon.

    Have a great day!

    ReplyDelete