Market surprised everyone including ME by giving up almost half of its gains from last week in one trading day.....
What caused this major SLUMP.....???
-Overbought conditions from last week..
-Short selling got momentum on weakness...
-News of recession started a year ago...
-PMI weakness in China was played up in media...
Add all this up and you have a very NERVOUS tape...SELL first ASK questions later was the MANTRA.....
OR
Was it just the TAPE we should be used to by NOW.....the answer is probably later...It IS just the type of TAPE these day's.......
In my portfolio :
Sold HXU.TO & HJU.TO
Portfolio is HOU.TO,HSU.TO & HQU.TO
I should be trading lot MORE than what I am doing...hard to get going on this...BUT shall TRY NOW.....
BLOG does NOT give buy or sell.
Saleem
6 comments:
SALEMM
My friend
Good MOrning Sun is out and BRIGHT
I love your emails and Blog!
What do you mean by thisI should be trading lot MORE than what I am doing...hard to get going on this...BUT shall TRY NOW....
Trade hard?? Confused
I got some POTASH and it is still dropping SHould I sell it or hold it??
Thanks
God bless all
Hi Carlton,
Thanks for your appreciative note.
It is snowing in Toronto area...winter started real early snowing since Nov..unusual!!!!
All I mean... is to lock profit immediately before it goes away in this UP & DOWN tape.
POT is a tough one...it is a laggard even when market is rallying & other fertilizer stocks are UP....need more basing.
Saleem
Hi Saleem,
Thanks for your continued perspective. Any thoughts on aapl and goog these days? both are hit hard. Aapl is getting a little positive press but the stock isn't showing much strength.
Thanks,
AD
Hi Ad,
AAPL is a much better buy & hold...based on current price of around $90...it is holding much better than RIMM....
GOOG can be a good trade also.
Saleem
Hi Saleem,
I believe Mr. Buffett is even surprized by this market. He paid $115 for GS. Now it's 63! Big loss short term, but in the long run he will make money. People are rallying around AAPL as last hope. Watch out if it cracks! Don't see much downside here, just a bunch of churning of old money.
Best Regards
Hi Standards,
This market has SHOCKED anybody who is directly or indirectly has participated.....
We are facing an unusual set of events worldwide..which has NOT converged in this manner with such SPEED.....
Being diversified now will help us wade through the remaining uncertainty.
AAPL will be a survivor in its space.....
Saleem
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