Markets were losing steam again..having lost 10% in 2 days......
Market is very concerned about economy & its implications worldwide......
Jobs data @ 830 AM will be in sharp focus......
Markets are oversold again......
Futures after factoring fair value are :
Dow UP 21.21
S&P 500 UP 4.37
NASDQ UP 5.78
Solar stocks MAY find its footing as SOLR beat expectations and is promising higher margin from cost control going forward......
STP,LDK & CSIQ got downgraded which affected most solar stocks negatively......
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hi, salim ,all
Very tough. Sold SOL with loss. Bought ATVI @ 12.17. If goes below 11 i will buy more. Sol ,UYG,IBN looking good. I am plannig to buy on 100 % margin tomorrow.
Thanxs.
Hi Ds,
Markets are tough.....
Apply any straegy which works for you.
I like your list of buys.
I am staying put with all my positions.
Saleem
GOOD LUCK all
I like the list of buys too! Look at MON way over sold as is QLD. AAPL is up in premarket
and Visa is looking strong today
Gas is $2.25 today in DC and traffic is back to huge volumes, with lots of cars with one person in them, I guess the gas price worry is over!
Take care all
Here is IBS top 10 Comments:Stocks Plunge 2nd Straight Day
Weak retail and jobs data and gloomy corporate news fanned economic fears as the market dived in heavier volume. The S&P 500 tumbled 5% and the Dow 4.9%, erasing all gains since their Oct. 28 follow-through. The Nasdaq fell 4.3% and the NYSE composite 5.7%. Commodity and auto stocks led a broad decline. More
Jobless Claims Hit 25-Year High
The number of people collecting benefits jumped 122,000 in the week ended Oct. 25 to 3.843 mil, the most since Feb. '83. New jobless claims fell 4,000 in the Nov. 1 week to a still-high 481,000. Auto parts firm Dana Corp. will ax 2,000 jobs. Mutual fund giant Fidelity will cut 1,290 jobs this month. Economists expect Fri.'s jobs report to show Oct. payrolls fell by 200,000. More
Retailers' Same-Store Sales Fall
Oct. comps slid 0.5% vs. a year before, the worst non-Easter showing since 2000 and darkening the holiday outlook. Embattled consumers sought bargains for food and other basics — and not much else. Wal-Mart's (WMT) 2.4% gain in same-store sales beat views. But Target (TGT) and Costco (COST) said comps fell. Apparel chains and dept. stores suffered sharp declines. More
Pelosi Favors Stimulus, Tax Cut
House Speaker Nancy Pelosi, D-Calif., wants to pass a $60 bil-$100 bil stimulus bill before Jan. and then a "permanent tax cut" once the new Congress is seated, she said in a published interview. She gave no specifics, but Pres.-elect Obama is expected to disclose some proposals after meeting with his economic advisers Fri. U.S. automakers also met with Pelosi to ask for aid.
Toyota Tumbles On Outlook Cut
The Japanese automaker slashed its '09 profit outlook by more than half to $5.5 bil, the worst in years. Toyota's (TM) Oct. U.S. sales fell 23% despite offering 0% financing. GM (GM) and Ford, (F) seeking emergency gov't aid, are expected to post huge Q3 losses Fri. with more details of job and production cuts. Toyota shares fell 16.5%. GM shed nearly 14%.
Europe's Central Banks Ax Rates
With the U.K. falling into recession, the Bank of England slashed its key lending rate by 1.5 percentage points to 3%, the lowest since '55. Markets had expected a 1-point move. The European Central Bank eased by a more-modest half-point. So did Swiss and Danish policymakers; the Czechs cut by 75 basis points. More
Calif., NYC Call For Big Tax Hikes
Facing an $11.2 bil deficit, Calif. Gov. Schwarzenegger proposed $4.4 bil in taxes and $4.5 bil in spending curbs to "stop the bleeding." The sales tax would rise — to 10.25% in L.A. County. NYC Mayor Bloomberg called for rolling back a property tax cut, raising income taxes and slashing the city work force by 3,000 to help shrink a $4 bil budget gap. At least 21 states face deficits.
Unruly Crude Executes 6% Dive
Oil futures slumped $3.51 to $61.77 a barrel, as the dollar firmed for a 2nd day on a slew of weak economic and corporate news that raised concerns about global growth — and demand for energy and commodities. Oil hit a 21-month low intraday. Heating oil dove 6%. Copper and platinum slumped 5% and silver skidded 4%.
Productivity Gains Slowed In Q3
Nonfarm output per hour rose by a 1.1% annual rate after a 3.6% gain in Q2. Actual Q3 output fell by 1.7%, but hours worked sank 2.7% for a 5th straight quarterly drop. Unit labor costs rose 3.6%. Meantime, manufacturing hours worked fell at a 4.9% pace, but output dived 5.7% — leading to a 1.1% fall in factory productivity. All told, the data signal further job cuts. More
Qualcomm Tops But Guides Low
After hours, the wireless tech giant said Q4 EPS rose 17% to 63 cents ex items, besting views by 3 cents. Sales rose 45% to $3.3 bil, above forecasts. But Qualcomm (QCOM) said demand may drop. It sees Q1 EPS of 46-50 cents on sales of $2.3 bil-$2.5 bil. Analysts see 61 cents and sales of $2.9 bil. Qualcomm guided full-year views lower. Shares fell 1% after dropping 6% earlier. More
Hi Madmax,
Good luck on your enthusiastic note.
Should be a very good day for all of US.....hopefully..
Regular gas is $3.25 US gallon in Toronto area..lowest in 2 years.
Saleem
Hi Saleem,
Future are up but DIA (etf that tracks the DOW is down 4%). Makes no sense to me...
Any thoughts on AAPL these days? I've got a bit and think its got some good upside potential but hope it doesn't tank back town to below 90...
Thanks,
AD
Hi Ad,
Markets will be fine for next few trading days....how many days depends on how slow or how fast we move UP.....
AAPL is @ very attractive price now....it should move UP to its recent high like $111 easy...
Good luck $$$
Saleem
As always, thank you Saleem. your perspective always provides some stability to (unintentionally - ofcourse!) emotional investors like myself! Love the reward - hate the risk! :)
AD
HELLO all
Great open
Can we sustain this GREEN??
I hope so
the jobs report was awful 6 /12 % unemployment
Heres hoping for LVS to pop up
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