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
7 comments:
SALEEM
I got the feeling tat the bottom is in
J the Cramer is silent that is a good thing
I am following DSX, FRO, MON, AAPL, RIMM
PWE , SWN, PQ good luck all
I say look for fast strong lose in the GREEN
Comments
Hi Madmax,
You & many others including me deserve a BREAK today.....
BREAK from losing money !!!!
Saleem
Saleem,
You might not know me, but I respect you very much. I am not a native English speaker, so my respose will be brief, Your post today is encouraging people to catch the bottom which is very dangerous. You might be right, but let's keep it simple, every sector, except airline industry, just broke down; they are all below the trendline. why do you want to swim against flow? waiting for the rate cut this week for a bounce?
Sincerely,
tx
Hi Tx,
Thanks for your appreciative note & welcome your CONTRARY take on market.
This BLOG reflects my take on day to day tape.....
Everybody has to decide for themselves if they are making the right decision to be IN or OUT of the market.
My last line everyday says "BLOG does NOT give buy or sell"
Saleem
Hi Saleem,
Thank you for your nice comment. Actually, I think buy is the contrary take on the market.
I am not talking about the day trading. Everything looks cheap now, but I have to remind myself, in a bear market, I have to sit tight and wait until a mid-term buy signal appears. Recent decline was shart and quick, unless you expect a V bottom, it's going to take time. But, I know you are a professional investor,whatever you do, I wish you all the best.
Sincerely,
tx
Unfortunately an ironic title given we ended down over 200 points. This market is just brutal. As jeff macke said last week, there are only 2 positions to be in - cash and fetal.
Hi Minaccess,
Nice to see your note.
Hope you are OK.....
Yes this market IS brutal....No question about it.....
I am still stying with 2 stocks only.....
Any long or short position you are carrying?
Saleem
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