Tuesday, March 31, 2009

Indices ends Q1 in with impressive gain !!!!

Markets ended Q1 with impressive gains......

Now what ???

AH futures are in RED...indicating another weak open...

Despite poor economic numbers... markets ended the session on an UP note.....

Nasdaq was the biggest % gainer today AGAIN !!!!

Solar stocks were big % gainer on PJ Jesse Pichel note detailing potential subsidy numbers from Chinese Govt.....

Financials were strong AGAIN.....

Oil stocks were strong while Oil was weak???

VIX closed @ 44.14 Down 3.07%....Not a number you want to see when markets are rising???

Rotation is going on on a daily basis......AG & Bulk Dry Shipping stocks were laggard....

Internals were healthy with advancing stocks & UP volume clearly in lead....

BLOG does NOT give buy or sell.

Saleem

Auto/Bank related pessimism gone from market......

Within 24 hours all the concern about Banks,Autos & Economy is taking a back seat..while institutions picks up bargain......

It is NOT end of the Q window dressing...it is positioning for future gains in markets.....which means "it is NOT ONE day bargain hunting"

Every time market sells for profit taking...technicians are out with their "pointers" telling all of us how LOW we can go..or we are going to stay in this "narrow range".....i wonder what their wisdom is saying today.......

Nasdaq again is leading the charge on the UP mode.....Down the least & UP the most????

VIX @ 43.59 Down 4.28%.....still waiting for digit "3"......

Gold UP $1.90

Oil UP 9 cent

Canadian $ UP measly 30 tick..after holy drubbing of almost 2 cents yesterday.......Canadian GDP shrank .7%....in-line with estimate from negative 1% previous report.....bad.. BUT rate of decline is less.......

Portfolio is RIMM,GNK,IPI,PMCS,MRVL,PALM.....subject to sale !!!!!

Most stocks are GREEN......

BLOG does NOT give buy or sell.

Saleem

Monday, March 30, 2009

Market Down 2.81% to 3.48% @ close....

Auto woes spooked the market with many surprise...First CEO of GM was let go @ the request of White House then their submitted proposal was rejected as inadequate to turn things around.

Market closed well above lows of the day which is very encouraging......

VIX spiked UP 10.96% to 45.54

There is some good news that there were 2 new highs on NYSE & 6 on Nasdaq.....

AH Futures are green after factoring fair value......

Solar,Autos,Financials,Ag & Bulk Dry shipping stocks were weaker......

Technology held up well.....a good relative strength indicator....as Nasdaq was down the least in % terms.

BLOG does NOT give buy or sell.

Saleem

Almost 4% slump..thanks to Autos !!!!

Markets are slumping from open....thanks to half baked proposal submitted by auto makers...I do not blame White House for rejecting their soft approach to dealing with deep rooted problems in Auto Industry.....

Gold UP $5.30

Oil Down $2.86

Canadian $ down again ..lower against US$ by 1.11 cent....huge move down.....

Most stocks are down including my portfolio...RED is the colour....

Hopefully we should see a recovery into close... !!!!

BLOG does NOT give buy or sell.

Saleem

Sunday, March 29, 2009

Economy IS poised to improve ...what will that do to markets ??

To the surprise of many...economic news has been improving all of a sudden.....

The reason of a sudden improvement in factory orders & new home sales ..because if you cancel all the orders & purchasing for months...then there is an erosion in prices so much that demands picks up for replenishing the inventory & there are real consumers who need things to consume or BUY on a frequent basis.....

Based on last stat from US...about 92 % are employed and they NEED things & place to live....their buying power has increased with low interest rates & lower prices of everything from House to Electronics....so they are actually better off buying NOW than WAIT for things to pick up when prices will start going UP...

Most consumers have a very good handle on their finance as they have saved in recent months & feel that their job is secure after all the reactionary layoffs.....

Pretty soon we will get good news on hiring once factory orders start coming in .......

Markets are ANTICIPATING improvement in economy going forward......

Technology will be the biggest beneficiary of a demand pick up......chips are needed everywhere from Autos,smart phone,fridges to Big screen TV...

Once the economy start picking up confidence of consumer & producer will soar...so demand will pick up for heavy machinery,Agriculture,Shipping,Iron Ore,Copper etc

Most of the above sectors are trading near bear market lows ...so it will be prudent to stay DIVERSIFIED in many sectors which has been trashed due to economy contracting to the lowest level since depression......

Current market environment gives a unique opportunity to benefit from lowest stock prices since depression......

In my analysis.... we will continue to make HIGHER HIGHS with usual necessary pullbacks for profit taking & news driven events......

I can clearly see that market IS & WANTS to go HIGHER because analyst short agenda of SELL rating is NOT working anymore for several weeks......

What analysts are failing to see that when stock prices are so LOW....their SELL rating has no impact....as market IS predicting IMPROVING business environment which WILL help most companies in a hurry......with improving margins & higher sales.....

Most companies have cut back their expenses to max & are operating very efficiently ...so economy of scale is @ OPTIMUM level......

So...the question IS...how to spot companies which will improve the-most with pickup in economic activity......

I personally check Sales & EPS trend for q/q & y/y and see if the stock is trading far below their growth %....PE is a very good indicator...IF PE is trading @ HALF their SALES/EPS growth rate...you have a SAFE bet.....

This is not a market to take quick profit...it is a "buy & hold" environment.......I know everyone has told everybody that buy & hold is DEAD.....but that IS a CNBC version of investing "trade for 10 cents"....

It will be "hugely profitable in next 2 years" if you buy good companies in a DIVERSIFIED mode & HOLD ......

Some of the companies which I own & looking @..... which are trading @ reasonable PE based on FY 2010 & looking good for future gains are:

RIMM...12.50
POT.....6.94
GNK.....4.43
IPI.......6.85
AGU.....5.55
TSL.....6.42
AAPL...18.11
GOOG..16.60

There are many OTHER stocks which can be analyzed like this and CAN be bought for long term HOLD......

BLOG does NOT give buy or sell.

Saleem

Saturday, March 28, 2009

BUY rated stocks for "bull mode" market!!!

Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.

ELOS,HA,HOGS,SWIR,TQNT,VPHM,AMGN,ARO,
AMR,HE,USU,VAR,BCE.

Next post by 10AM Sunday.

BLOG does NOT give buy or sell.

Saleem

Technically STRONG stocks for "bull mode" market!!!

Following stocks are showing technical strength based on various formations.Please do your OWN due diligence by checking FA/TA/TAPE.

JDSU,GME,YRCW,SKIL,GM,CHL,MON,SFLY,
ADCT,GRMN,INTC,DAL,MDAS,SAPE,PWR,PAG.

BLOG does NOT give buy or sell.

Saleem

Technically WEAK stocks for "bull mode" market!!!

Following stocks are showing technical weakness based on various formations.Please do your OWN due diligence by checking FA/TA/TAPE.

ABAX,FCL,WLT,WLP,SWKS,HUM,ADI,VRSN,OSIS,SNN,SEPR,TGP.

BLOG does NOT give buy or sell.

Saleem

Friday, March 27, 2009

Normal profit taking on huge gains.....

Market gave up less than 3% today @ close.....

Market internals remains healthy with more 52 wk highs than lows on both NYSE & Nasdaq today !!!!

Volume was lower in all indices..... in this mild selling after huge runup.....

Bank CEO'S were talking about "tough March in their business" which did not help the sentiment of buying into close.

Solar stocks held UP well after barrage of sell calls by 4 analysts...are they caught with big short position???

By 10AM Saturday..I will list technically weak/strong/buy rated stocks.....

BLOG does NOT give buy or sell.

Saleem

Orderly pullback in a bull trend......

Markets are following a classic bull tape pullback.....

Down early and trying to stabilize as the day progress.....

Markets are certainly giving signal that bear tape is all KAPUT !!!!

Gold Down $17.10

Oil Down $2.15

Canadian $ Down 59 tick

Surprise surprise..VIX @ 40.73 UP only .92% on a down morning !!!!

Portfolio RIMM,IPI,GNK,PMCS,PALM......subject to sale !!!!

@ 12.10 following are among green :

RIMM,IPI,GNK,PALM,POT,LULU,EGLE,DSX,
VAR,GERN.

BLOG does NOT give buy or sell.

Saleem

Thursday, March 26, 2009

Strong close...a good indicator of market strength !!!!

All index are participating in this market rally......

Nasdaq was the % leader in gain & in strong volume.....

Internals were stronger today with 4 to 1 lead of advancing stocks.....

New 52 week high /low list is very interesting......

10 new high 0 new low in NYSE......

22 new high & 13 new low in Nasdaq.....

VIX closed @ 40.36 Down 4.47%

BUT.....AH???

Futures are all RED...

Gold Down...

Oil down.....

Silver Down.....

So we MAY have SOFT open...then????

Solar stocks were the-superstars UP almost 40% in some case.....there is new incentive in China in terms of rebate...which is quite aggressive !!!!

BLOG does NOT give buy or sell.

Saleem

Markets doing Higher HIGHS...NICE !!!

Markets are making higher highs.....

VIX @ 40.50 Down 4.14%.....just about READY to go below 40......

Gold UP $4.10

Oil UP 60 cents

Solar stocks have finally made a solid base & is flying NORTH UP 20%......another confirmation of a "BULL mode"...when every sector JOINS the party......

Portfolio is RIMM,IPI,GNK,PMCS...subject to sale !!!!

Most stocks are rallying in this renewed strength in tape !!!!!

BLOG does NOT give buy or sell.

Saleem

Wednesday, March 25, 2009

Market all set for "higher HIGHS".....

Market showed resiliency by recovering nicely from selling triggered by softer reception to bond sale......

Nasdaq volume was heavier on an UP close.

Market internals were decidedly bullish with 2 to 1 lead of gainers & UP volume.....

New 52 wk HIGHS were increasing also......

Following stocks were among many winners @ close :

IPI,EXPE,AMTD,AGU,LDK,FSLR,CMED,
ISRG,GS,MA,TOL,IAG,KGC,GG,UYG,XLF.

BLOG does NOT give buy or sell.

Saleem

Economy turning UP & Markets READY to make higher HIGHS $$$$

Markets are reacting to better than expected news on Durable goods & New home sales...two KEY ingredient for better times ......

VIX down 3% already to 41.65......

Gold UP $5.90

Oil 7 cent..despite higher than expected inventory???

Portfolio is RIMM (added 50% more today),GNK,IPI,LSI.....subject to sale !!!

@ 12.17 following are green :

IPI,EXPE,KGC,POT,SOHU,CMED,VLO,
ABX,FSLR,ISRG,GG,TOL,PHM,AAPL.

BLOG does NOT give buy or sell.

Saleem

Tuesday, March 24, 2009

Low volume pullback is healthy.....

Volume was low on pullback today......

VIX pulled back a touch on a down day???

52 week low & high getting interesting for a down day..here is the breakdown :

7 new highs 5 new lows in NYSE

12 new highs 12 new lows in Nasdaq

Among the green @ close were :

GNK,IPI,PALM,POT,LDK,BIDU,SINA,FMCN,
KGC,EGLE,LVS.

President Obama press conference @ 8 PM should help market sentiment for Wednesday...

Futures are mixed after factoring fair value..DOW & S&P green...Nasdaq RED....

BLOG does NOT give buy or sell.

Saleem

Markets digesting yesterday's HUGE move nicely !!!

Markets are digesting major UP move from Monday....

There IS a very good chance that we MAY resume this UPTREND....

Gold Down $27.70

Oil Down 92 cents

US$ is rebounding today.....Canadian $ only 25 tick lower....

My portfolio is RIMM (added more today),GNK,IPI & LSI...subject to Sale !!!!

@ 12.13 following are green :

GNK,IPI,PALM,EXPE,FMCN,SINA,BIDU,
CTRN,JRCC,EGLE,LVS,GS,AGU,POT.

BLOG des NOT give buy or sell.

Saleem

Monday, March 23, 2009

Who predicted this "mother of all move UP"...Nobody !!!

Market gave a "huge thumbs UP" to details of toxic removal plan for banks.....

Almost 7% move UP in most index...small cap Russell 2000 index UP 8.4%

We have 1 more new 52 wk high than lows on NYSE...after a long long time !!!

On Nasdaq we still have 1 more new 52wk low compared to high..not bad @ all !!!

Internal strength of market were Super Strong which is expected in a move like this.....

Canadian $ had another great move UP against US$...UP 1 full cent +++

BUT......

VIX remains high stuck in the mud @ 43.23 ????

FMCN AH reported a miss on both top & bottom line...down 12 cents AH @ bid.....

Where do we go from here in markets.....AH futures are down after factoring fair value???

BLOG does NOT give buy or sell.

Saleem

Nasdaq / S&P 500 above 50 DMA....Dow closing in $$$

S&P 500 is also above 50DMA alongwith Nasdaq......

Dow is also closing in towards 50DMA....

Much anticipated Toxic relief for banks are in the works.....

Markets are relieved @ this timely announcement below 50DMA.....

Technically today we are looking much healthier as all index are strong......

My portfolio is RIMM,IPI,LSI,GNK...subject to sale !!!!

Most stocks are UP......

BLOG does NOT give buy or sell.

Saleem

Sunday, March 22, 2009

Overbought & Option Expiry @ play.....

50 DMA was clearly identified as resistance level for the markets......

Nasdaq the-strongest index made it over 50 DMA with great ease...while S&P 500 & Dow were scared of the heights......

There is a raging debate about the status of this market.....

History is good & bad when looking @ any market status.......

History is good because...it tells you exactly where we have been & where we are currently in historical perspective......

BUT....

If you bank too much in historical snapshot...it will prevent you from looking @ FUTURE....too much REARVIEW focus??

So history is BAD...because it does NOT tell you where we are heading NEXT......

So where are we heading next?????

First we need to rectify current overbought conditions......by hitting recent highs & pulling back many times.....

Washington will give us SPURT of good news driven buying ....but it will not make any meaningful new HIGHS for the time being.....

We need to mark time...to digest overbought conditions.....

I see sideways/down sloping markets for about two weeks....

I definitely see a very strong April......which MAY be second monthly advance if we end March with first monthly gain..hopefully....

Option Expiry is always questionable @ best..MM along with Hedge Funds in total control down to the last cent???? SEC does NOT look into these things????

So.....

While the market deals with overbought conditions...keep checking RSI range on a 1 year chart..there is sectors of markets which are oversold......like Bulk Dry shipping,Ag,Solar to name a few.....

It will be prudent to stay away from overbought sectors like Semiconductors,Financials as they need time to rebuild strength.....

Please pay attention to PE on FY 2010..as it is more close to reality than 09.....

Here are PE of some sample stocks which I either own or am monitoring:

GNK.......3.83
RIMM.....11.48
AAPL......17.25
IPI.........5.53
AGU.......5.14
TSL.......3.94

If you can buy all of the above in a diversified portfolio..you have a very good CHANCE of creating a positive history for your portfolio going forward......

So.....moral of the story is KNOW what you are buying & when you are buying INSTEAD of worrying about markets 24/7....

Markets will do what it needs to do...but great BARGAIN disappear in no time......

Do NOT allow bargains to slip away?????

BLOG does NOT give buy or sell.

Saleem

Saturday, March 21, 2009

BUY rated stocks for "bull in the air" market!!!

Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.

ALDN,CRA,ELRC,SNPS,ZOLL,AA,JAG,LZR,MVG,
ABX.

Next post by 10AM Sunday.

BLOG does NOT give buy or sell.

Saleem

Technically STRONG stocks for "bull in the air" market!!!

Following stocks are showing technical strength based on various formations.Please do your OWN due diligence by checking FA/TA/TAPE.

LULU,VISN,TTWO,CALM,GG,GLW,PBR,AMSWA,
NDN,LLNW.

BLOG does NOT give buy or sell.

Saleem

Technically WEAK stocks for "bull in the air" market!!!

Following stocks are showing technical weakness based on various formations.Please do your OWN due diligence by checking FA/TA/TAPE.

BCE,DSX,CIEN,FLR,GME,ELN.

BLOG does NOT give buy or sell.

Saleem

Friday, March 20, 2009

Less than 2% pullback on Option Expiry......

Option Expiry or Triple Witching expired with usual pullback to desired levels by MM.....

Markets had two weeks of impressive gain.....

Monday SHOULD bring Green by close......

Most stocks were taken to RED close by design.....

By 10AM Saturday i will list technically weak/strong/buy rated stocks.

BLOG does NOT give buy or sell.

Saleem

Mixed picture in markets ..so far !!!!

Markets are mixed on Option Expiry day......

Dow is Green while S&P 500 & Nasdaq showing small loss.....

Bulk dry shipping stocks are down 7% to 10% on Wachovia downgrade of DSX & EGLE on soft BDI......

Gold Down $4

Oil Down 20 cents

Canadian $ is UP again against US$.....best week of %gain by CAD !!!!

My portfolio is RIMM,IPI,GNK,LSI...subject to sale !!!

@ 12.18 ..following are green in my watch list :

RIMM,AAPL,PALM,EXPE,SINA,FMCN,V,POT,
ICE,CCJ,NDAQ,MA,BIDU,ABX,GG,GOOG.

BLOG does NOT give buy or sell.

Saleem

Thursday, March 19, 2009

Small pullback ahead of Option Expiry....

Indices pulled back slightly ahead of Option Expiry...

MM & professionals were trying to minimize their losses & control the strike price differential to close out their positions......

Markets MAY recover after 3PM ..once Options are squared off......

AH PALM reported worse than expected loss & revenue...Down slightly AH.....Pre is on track for June release.....

Gold,Oil,Ag, Shipping,Solar stocks were big winners today...Rotation is ON towards laggards...

Futures are slightly lower after factoring fair value.

BLOG does NOT give buy or sell.

Saleem

Markets digesting huge RUNUP.....

Markets are backing off to digest 14% RUNUP in a straight line......

US$ is in free fall against world currencies since yesterday......

Canadian $ is UP 64 tick against US$....

Gold UP $70++....

Oil UP $2++

My current portfolio is :

RIMM,LSI,IPI & GNK......always subject to sale!!!!

@ 12.22 following are green in my watch list :

RIMM,GNK,IPI,AGU,TLM,STP,TSL,SLV,POT,
DSX,EGLE,YHOO,CCJ,JRCC,VLO,ABX,GG,IAG,AEM,
SPWRA,FSLR,FWLT,LULU,UYM,TAN.

BLOG does NOT give buy or sell.

Saleem

Wednesday, March 18, 2009

Nasdaq sitting comfortably above 50 DMA @ close...NICE !!!!

Nasdaq is a leading index when it comes to tape action on the UPSIDE...it closed well above 50 DMA...the first one to do so......

S&P 500 is breathing just below 50 DMA....ready to jump ABOVE on Thursday....

Volume was very heavy on Nasdaq followed by NYSE.......

VIX @ 40.06......ready to dip below 40????

OE is on Friday.....which MAY add more fuel to the bull charge.....

Based on current tape we MAY get the highest level on Friday in markets......

Sector rotation will be the "mantra" going forward...so keep adding lagging sectors....Ag & Bulk dry shippers are the most notable ones....they are ready to play catch UP......

Home builders & Gold stocks came to life after Fed minutes were released...which was taken as boosting economy & adding more risk taking.....

Canadian $ was on fire today adding 1.4 cents against US$ after fed minutes were released....C call of bullish action on CAD has added almost 6% since last week...a huge move UP.....

BLOG does NOT give buy or sell.

Saleem

Nasdaq "green" ready to take out 50 DMA....

Nasdaq AGAIN is showing leadership and is poised to take out 50 DMA......

IBM in talks to takeover JAVA...sign of a market bottom......

GOLD down $31.....

Oil Down $2...

@ 12.13 ..Following are green in my watch list :

GNK,MRVL,NVDA,AAPL,C,BAC,JRCC,
SPWRA,FSLR,TSL,LULU,XLF.

BLOG does NOT give buy or sell.

Saleem

Tuesday, March 17, 2009

Solid gain of 2.48% to 4.14% on Wall Street...NICE !!!

Markets staged a solid rally led by Nasdaq which was the biggest % gainer.....

Almost 4 to 1 lead of advancing stocks in NYSE & Nasdaq....

Almost 10 to 1 lead of UP volume on NYSE & 14 to 1 on Nasdaq....

Only 15 new lows in NYSE & 42 new lows in Nasdaq......we are almost ready to make 0 new lows...

We are awfully close to taking out 50 DMA on Nasdaq followed by S&P 500 then Dow....

Many sectors participated in this rally except Gold stocks......

VIX closed @ 40.80..lowest close in a long long time......

Once we take out 50DMA...we will enter overbought condition....so plan your strategy accordingly....check out the RSI range on a one year chart for index or stocks...

This is a major UPTURN.....so select your stocks with good/improving fundamentals !!!!!

BLOG does NOT give buy or sell.

Saleem

Nasdaq pulling all index UP......

Markets are showing renewed buying interest......

Nasdaq is the strongest index with a gain of 1.4% so far......

Gold Down $5...

Oil UP $1++

@ 12.12 PM following are green in my watch list:

IPI,EXPE,AAPL,RIMM,MRVL,V,POT,MON,
CTRN,YHOO,NDAQ,MA,BIDU,SOHU,ISRG,
SNE,GS,GOOG,FWLT,TLM,PHM,TOL,SINA
FMCN.

BLOG does NOT give buy or sell.

Saleem

Monday, March 16, 2009

Nasdaq profit taking sinks indices.....

NASDAQ was the weakest...since open....closed down around 2% on heavy profit taking....more NASDAQ stocks were in RED most of the day with decliners in the lead...a sign of many traders locking in gains......

AH ENER,SINA came with lousy guidance ...ENER down around $5 SINA around $1.50....

VIX @ 43.74...I will feel much more comfortable when it goes below 40 and stays there.....

AH Futures are slightly UP after factoring fair value.

Some of the green close were :

BAC,C,AGU,MON,IPI,GNK,FXI,IBN,ACH,X,XLE.

Congratulations to Brian Williams of NBC for listening to his audience & airing positive contribution story every night on NBC evening news.

BLOG does NOT give buy or sell.

Saleem

Markets looking ABOVE 50DMA......

Markets are stable for five days in a row.....sign of good things to come !!!!!

Fed chief tried to assure doomsters on 60 minutes that US economy is on the "mend" & it is OK to come out of their cave & save those soup cans for another decade.......

Gold Down $9....

Oil UP 50 cents after being Down $2....

@ 12.21 following are green in my watch list:

GNK,IPI,AGU,EXPE,AAPL,RIMM,STP,V,
C,POT,ICE,CCJ,JRCC,EGLE,NYX,VLO,
ISRG,SNE,IBN.

BLOG does NOT give buy or sell.

Saleem

Sunday, March 15, 2009

This rally COULD be a start of something BIG???

Markets have staged an impressive rally after hitting another low in most indices......

On Nasdaq we hit 1268.64 on Monday......a new multi year low to 12 years in past...but by Friday in next 96 hours Nasdaq surged 162.86 points to close @ 1431.50 an impressive 12.84% from Low.....

So.... what was the catalyst for this quick turnaround......

If you ask technicians..they will tell you that it was NOT meant to be.....we were suppose to go to either 5300 or 4000 on Dow if Pundit Jimmy the Cramer or Louise Yamada to be believed....I am glad I do not put much faith in either of their latest call...Louise has been correct for the most part but has been very vague in time sequence...so it was hard to make money on her accurate trend call so far.....

If you ask fundamental types...it was clear that when index makes fresh new lows on a multi year basis...it often signals a "turnaround" ......

Markets have been discounting financial mess for 19 months...and were clearly READY to look AHEAD.....

CEO of BAC,C,JPM gave a clear SIGNAL that worse is behind them.....so market moved on this MAJOR fundamental SHIFT......

GE also was given a notch lower credit rating...much to the relief of GE & its followers..as the fear was that it will be ratcheted down several notch...GE CFO was very confident going forward...another Fundamental shift......

I am sure that Technicals always follows fundamental news......

What technicians will NOTE that index will take out 50 DMA in a HURRY...Nasdaq is only 48.54 points from it 50 DMA of 1480.04...could be 1 day UP move......

I am sure ...we are going to hear endless analysis of this being a bear market rally & soon we will go lower than previous lows.....based on "I SAY SO"......

It is one year of BSC fiasco......it took full year to digest all the implications of BSC collapse & LEH Bankruptcy.......

Markets have come a long way in DEALING with "GREED & CORRUPTION" in worldwide markets.......Bernie Madoff became a poster child of this decade???

Markets will move quickly away from LOWS......

There are several ways to benefit from this UPSWING.....stay in strong stocks for several years for maximum gain instead of trading out with few cents gain......It MAY be beneficial to ADD good business which LAGGED in this UPTURN.....like Ag & Dry shipping.....

Semiconductors are looking very strong and should be positioned in every portfolio......

Chinese ONLINE Gaming stocks are looking good......as they have build a solid long term base...

I was thrilled to see some accountability in main stream media...as Jon Stewart took the holy task of calling the "callous calls " made by CNBC so called pundits/experts on a daily basis without any performance metrics...every day they tell you to BUY or SELL stocks without any analysis & hardly come back to account for their over 70% WRONG calls....

CNBC should work on accountability of 1000 of calls given to viewers to either buy or sell....they OWE this to their audience on a daily basis.....CNBC behaves like a "boiler room" say anything without accountability......where is the integrity in Journalism.....Host/participant of these shows must NOT be pushed as experts as they have NO track record of any repute.....buying puts & calls on the same stock is NOT considered a winning strategy...it IS a losers game......

Coming weeks should take index to respectable levels like above 50DMA & will hold on a long term basis......

Please pay attention to RSI when buying......it MAY hit resistance very soon...& MAY need time to digest GAINS.....

Bollinger Band is also a very good tool to see resistance.......

G20 Finance ministers had a very good understanding of what needs to be done on an ongoing basis & Will make "specific recommendations" for April 2 meeting for Presidents & Prime ministers of G20.....

I expect markets to move HIGHER after April 2nd meeting......

BLOG does NOT give buy or sell.

Saleem

Saturday, March 14, 2009

BUY rated stocks for an improving markets!!!

Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.

AAPL,ADTN,ARBA,DNDN,ITWO,JOSB,KLAC,
LOGI,LULU,MPEL,NTES,NVLS,PALM,SBUX,
ZOLT,GM,LSI,MU.

Next post by 10AM Sunday.

BLOG does NOT give buy or sell.

Saleem

Technically STRONG stocks for an improving markets!!!

Following stocks are showing technical strength based on various formations.Please do your OWN due diligence by checking FA/TA/TAPE.

DLB,BKC,CHU,MS,JCG,GMCR,TSRA,ICE,STMP,
WBMD,ALOG,ISG.

BLOG does NOT give buy or sell.

Saleem

Technically WEAK stocks for an improving markets!!!

Following stocks are showing technical weakness due to various formations.Please do your OWN due diligence by checking FA/TA/TAPE.

NSM,TRI,RGS,KCP,ASR,SWS,SD,RJI,ETP,TYG.

BLOG does NOT give buy or sell.

Saleem

Friday, March 13, 2009

.38% to .77% GAIN on day FOUR.....

Index fought whole day to close green......four day's in a row.....

Internals are looking healthier every day.....

New 52 week low shrank to only 12 in NYSE & 30 on Nasdaq...best reading in 6 months @ least...

PALM,PMCS,SNDK,LDK,JASO,SGP,LVS had huge gain......

By 10AM Saturday..I will list technically weak/strong/buy rated stocks.

BLOG does NOT give buy or sell.

Saleem

Markets digesting gains.....

After three day's of high volume gains...its time for technicals to catch some breadth.....

Lot of positive news about bank's profitability propelled this market higher.....

Gold is UP $4.80

Oil UP 26 cents

@ 12.19 following are showing green in my watch list :

IPI,PMCS,PALM,CMED,KGC,SLV,BIDU,SOHU,
LVS,ABX,SPWRA,FSLR,VAR,FWLT,SNE.

BLOG does NOT give buy or sell.

Saleem

Thursday, March 12, 2009

3.46% to 4.07% Rally on day three....

Markets have enjoyed three days of nice rally.....

We ARE in overbought situation...so need time to digest this gain.....

RSI has moved up in Dow to 46.79 from 26.91 on a 1 year chart.....too far too fast???

It is a good idea to lock-in profit & move into laggards.....I practise what I preach.....

Many stocks moved UP nicely after forming a solid base ..so a pullback to support area MAY be in order.....

Many pundits will try to tell All of us ...what kind of rally it IS......i say "rally is a rally" no need to define it with fear based definition.....this HAS been a horrific bear market & they do end gradually.....

Markets are trying to look ahead to better day's in economy and NEVER goes UP in straight line...

VIX closed @ 41.18.....hopefully it will go below 40 & stay there.....

BLOG does NOT give buy or sell.

Saleem

Day three of rally.....NICE !!!!

When news & predictions for economy & stock market couldn't be worse...guess what happens..a solid 3 day rally.....

GE rating cut was taken as another event which has been discounted by stock price..GE UP sharply !!!!

All indices are equally strong...a very healthy sign for market...

SOL reported Loss with inventory writedown...guidance "not as bad as feared" SOL UP slightly.

Bernie Madoff finally going to 0 star accommodation..

GOLD UP $16..

Oil UP 77 cents

@ 12.11 following are green in my watch list :

NVDA,AAPL,CMED,V,ICE,MA,ABX,FSLR,
ISRG,GS,VAR,GOOG,SGP.

BLOG does NOT give buy or sell.

Saleem

Wednesday, March 11, 2009

Green close again !!!!

Markets fought profit taking & managed to close green..Nasdaq was the strongest index again....

Gold stocks were strong.....

Solar stocks were weak....

Dry shipping stocks were weak due to delayed ER & covenant issues faced by TBSI.

JPM CEO Jamie Dimon expects recovery in 2009 also which helped markets to move UP from RED...he also cautioned politicians to stop slamming economic issues & blaming it all on CEO'S.Cautioned about debate 24/7...as it is causing unwanted confusion & interference.....

Strong stocks @ close included :

AAPL,RIMM,NDAQ,AGU,MON,POT,
GOOG,BIDU,GS,KGC,GG.

BLOG does NOT give buy or sell.

Saleem

Market losing steam.....

Markets are drifting to break even area after being UP.....Nasdaq still the stronger index...

Profit taking & not believing in sustained rally is the culprit....

LDK reported Loss & guiding lower for 2009 ..most solar Down & LDK hitting new 52 week low.

GOLD is UP $9.70 & Gold stocks are UP....

Oil Down 71 cents....

@ 12.32 following are green in my watch list :

IPI,AGU,AAPL,RIMM,PMCS,MRVL,NVDA,
CY,KGC,SLV,POT,CCJ,BIDU,SOHU,ABX,
GS,GOOG,MON,GG.

BLOG does NOT give buy or sell.

Saleem

Tuesday, March 10, 2009

Nasdaq was strongest with 7.07% gain....NICE !!!!

Markets were so oversold & trades were so one-sided on the short side that it became a "very crowded trade"....then contrary trade of long took hold with a vengeance.....

Yes ....there were many catalyst today from deeply oversold conditions to positive comments from Bernanke to Vikram Pandit shocker of profit forecast for C.....

Bernanke is predicting end of recession by end of this year & growth in 2010....these words were NOT in the cards of many technicians as it IS a fundamental story of economic picture....

How powerful was this rally....here are some numbers :

Advancing stocks led by 13.03 to 1 on NYSE

Advancing stocks led by 5.38 to 1 on Nasdaq

UP volume led by 27 to 1 on NYSE

UP volume led by 23.32 to 1 on Nasdaq

VIX ..the famous fear index.... went down to 44.37..Down 10.69%

Even Solar stocks who are reporting "tough times" came to life with 10%++ gain....

Another GREEN close is in the cards for Wednesday......

BLOG does NOT give buy or sell.

Saleem

Strong rally of almost 6%.....so far $$$$$

Markets are celebrating that a bank like C IS making money in this recession ridden environment.....in Jan & Feb.......surprise surprise to depression pundits???

Can you imagine how profitable are techs,Ags & other sectors.....food for thought for those who were reading too much negativity.....

Gold down almost $15...went below $900???

Oil UP 44 cents to $47.51...farewell to low $30's...

C analyst gave a bullish call on Canadian $ saying it is "undervalued against US$" UP $1.17...feeling much better about my conviction for CAD in my long position....

Most stocks are UP some are UP almost 10%...nice ,nice,nice......

BLOG does NOT give buy or sell.

Saleem

Monday, March 9, 2009

Nasdaq made a new low but closed above old low???

Nasdaq went below old 52 week low but managed to close above previous day's low...barely by fraction???

Dow & S&P 500 managed to stay above 52 week low.....it is good to have non-confirmation....of any new lows in all indices.....

Warren Buffett had many things to say about what President Obama should do in terms of policy FOCUS.....

As I have mentioned also previously...President Obama should concentrate on fixing the economy FIRST & then work on many of his personal priorities....

Warren Buffett is clearly agitated that President Obama is doing too many things and CONFUSING everybody including wall street....he also mentioned that WHY pick a fight right now when we need co-operation of everyone to FIX the economy.....

Following were among green stocks today :

GNK,EGLE,DSX,GERN,SGP,MON,AGU,POT,IPI,
NDAQ.

BLOG does NO give buy or sell.

Saleem

"Economy has fallen over a cliff".."Economy in shambles" All sign of a BOTTOM ???

Warren Buffett is coming up every week with the best lines for economy.....

Last week "economy was in shambles"

Today "economy has fallen over a cliff"

SO......

IF one CAN believe the oracle of Omaha.....Economy has nowhere to go but UP.....because you cannot be worse than Shambles or falling over a cliff.....

Warren Buffett like every OPTIMIST IS feeling the pinch from this recession......

With all the exposure & PANIC call on CNBC this AM......Warren Buffett was NOT able to SPREAD the GLOOM anymore?????Answer...you cannot beat a dead horse anymore????

So what did Nasdaq do so far...did NOT make new lows...actually stayed well ABOVE old lows..???

Did S&P 500 went to new lows...NO ????

Did Dow go to new lows...NO????

So the question is ?????

WHY are we NOT tanking??? when every technical newsletter I got over the weekend from stockcharts.com & 2 others said we are going to 4000 to 4500 in DOW......?????

When technicians are so SURE...CONTRARY position is very profitable.....

@ 12.28 following are GREEN in my watch list:

GNK,NVDA,AGU,EGLE,CMED,IPI,POT,
CTRN,ICE,JRCC,NDAQ,MA,NYX,VLO,
FSLR,ISRG,FWLT,MON,SGP.

BLOG does NOT give buy or sell.

Saleem

Sunday, March 8, 2009

Its RIGHT time to follow funamentals NOT technicians!!!!

Technicians are running amok with dire predictions for the markets.......

Louise Yamada is predicting Dow 4,000 & S&P 500 to 400......

So..if you follow & believe in Louise Yamada then Dow is ready to crash another 2626.94 points or further fall of 39.6%.......so buy triple shorts/puts on Dow /S&P......and she will bring you good fortune.....

Jimmy the Cramer is predicting Dow 5320.....a further crash of 1306.94 points or further fall of 19.72% from Friday's close.....another chance of minting money & recouping all your losses from this deep bear market....IF you believe Jimmy the Cramer has any talent for predicting with any ACCURACY market movements.....

It IS becoming a SILLY season on CNBC to come up with numbers without any RATIONALE..."JUST SAY IT".....

Maybe CNBC can run a new segment "CAN YOU TOP THIS" then actually ask them the REASONS for their prediction......which will render most of the pundits SPEECHLESS & mumble words which will make no sense to any listener......

So what do I personally think of these predictions about market crashing down into toilet zone?

I personally do NOT worry about the direction of market..but worry a whole lot about the direction of some stocks which I either personally OWN or FOLLOW closely.....

Some stocks are telling me that they have seen their bottom irrespective of the direction of the market or their level....

Let me make this point very clear.......

Markets closed near LOWS for last 19 months.....Nasdaq actually had the lowest close in last 19 months.....

I personally own the following stocks based on improving FUNDAMENTALS...which NO technicians ever UNDERSTANDS & Jimmy the Cramer PRETENDS to KNOW.......

MRVL last $8.06 low $4.48 Gain of 79.9%

NVDA last $8.39 low $5.75 Gain of 45.9%

PMCS last $5.35 low $2.82 Gain of 89.7%

GNK Last $12.29 low $6.43 gain of 91.14%

So...you tell me WHY these stocks are showing HUGE gains when Nasdaq closed @ LOWEST level in the last 19 monhs?????

& that IS where lies the "real market" NOT CNBC market of DOOM & GLOOM......

Choice IS very clear...do lot of fundamental research & understand which business IS poised to OR ARE improving & position accordingly.....

Most small companies have lot of leverage in an IMPROVING environment & CAN easily QUADRUPLE when everything is said & done.....

I personally believe that we have seen 90% of CARNAGE in US,Canada & Europe's economies....other last 10% of bad news IS & WILL be ignored by markets & most importantly STOCKS which are poised to improve......

Here is PE of many stocks for 2010...which is only 8 months away......remember markets will START to price in 2010 PE shortly...

AAPL....14.46
AGU......4.47
GNK......2.56
GOOG...12.70
RIMM...10.04
POT......5.12
CMED....5.70

I am personally very confident that IF you buy equal share in all of the above stocks...you will be buying LOW.....

IDEA is to take advantage of LOW LOW prices ..& NOT be a market TIMER..BUT a TIMER of stocks with great fundamental research & have 2 year horizon .....

I personally do NOT know of any technician who have accurately PREDICTED a BOTTOM EVER......

Robert Prechter famous Elliott Wave theorist predicted 400 on Dow in 1987..... which NEVER came in close..low was 1833 area...he missed it by only 1433 points or missed it by 358.3%....

Robert Prechter actually had a nice system of 5 stage charts which IS still in use by many...what does Louise created/follows in terms of proprietary charting...I am not so sure....& Jimmy the Cramer who changes his mind every 10 minutes......

So .....

You have a Choice of doing your OWN homework & position for FUTURE or pay attention to PANIC call of the day on a daily basis...which will NOT make you BETTER long term investor...

Know your company in which you are investing IN.....

Invest in FEW with CONVICTION.

CHINA is ready to pump another $600 billion if need be...$1.2 Trillion stimulus can shake this world out of this deep recession.....

Be ready to take advantage of this upcoming CHANGE in direction for world economy.....

How do I know ..that CHANGE is IMMINENT.......

Too much DOOM & GLOOM is the EVIDENCE for me !!!!!

BLOG does NOT give buy or sell.

Saleem

Saturday, March 7, 2009

BUY rated stocks for an improvement in market!!!

Following stocks are flashing buy signal.Plaease do your OWN due diligence by checking FA/TA/TAPE.

MRVL,ARST,IDEV,NCMI,PLCE,WFBC,DNA,RGC,ROH,
AXG,PEX.

Next post 10AM Sunday.

BLOG does NOT give buy or sell.

Saleem

Technically STRONG stocks for an improvement in market!!!

Following stocks are showing technical strength based on various formations.Please do your OWN due diligence by checking FA/TA/TAPE.

ICE,ATVI,IMO,CRMT,BVF,CRM,BIG,ALTR,SMCI,VRSN,ONNN,
TDC,NVDA.

BLOG does NOT give buy or sell.

Saleem

Technically WEAK stocks for an improvement in market!!!

Following stocks are showing technical weakness based on various formations.Please do your OWN due diligence by checking FA/TA/TAPE.

SPLS,PFCB,JAS,KNOT,URBN,DKS,JPM,
SBP,CVD,NILE.

BLOG does NOT give buy or sell.

Saleem

Friday, March 6, 2009

What a day in markets.....Dow & S&P 500 Green...NICE !!!

Markets continued on a wild ride taking all indices to new lows......Nasdaq closed @ new closing low for the year today....

Dow 6469.95 today...PROBABLY will go down in stock market history as a number which was unthinkable few months back...

S&P 500 @ 666.79 today....was also unthinkable only few weeks back.....

Both Dow & S&P 500 closed above yesterday's low...a good thing.....

AH Stem cells stocks are UP huge %...as President Obama is all set to lift Ban on federal funding for Stem cell research on Monday......

By 10 AM Saturday ..I will list technically weak/strong/buy rated stocks.

BLOG does NOT give buy or sell.

Saleem

Nasdaq went to new 52 week low also.....

Nasdaq joined other indices in making new 52 wk low today.......now that technical picture of all indices are in new bear territory...MAYBE we could climb from this deep hole.....

S&P 500 also hit a new low today...Dow is the only exception so far.....

Jobless claims was taken as positive as revision for previous months made it look better.....

GOLD UP $15

Oil UP 77 cents

@12.16 following are green in my watch list :

MRVL,GNK,NVDA,IAG,KGC,GG,ABX,AEM,
CMED,YHOO,CCJ,ISRG,FWLT.

BLOG does NOT give buy or sell.

Saleem

Thursday, March 5, 2009

Nasdaq only 4.11 points from intraday/52wk low....

Bear markets are not kind to any statistics /charts/FA......

We went to series of new lows in many indices...

Internals are extremely bearish @ close......as listed below :

Declines led by 12.28 to 1 in NYSE

Declines led by 5.24 to 1 in Nasdaq

Down volume led by 14.52 to 1 in NYSE

Down volume led by 12.45 to 1 in Nasdaq

New 52 wk lows 708 in NYSE & 562 in Nasdaq

AH ER MRVL beat on top & bottom line and is guiding higher than consensus for Sales & EPS..stock UP 7% AH......

Gold stocks were the strongest sector as Gold shot UP $22.... plus BIDU,GNK,DUG were among gainers...

Future are green after factoring fair value as listed :

Dow UP 31

S&P 500 UP 3

Nasdaq UP 5

GOLD UP another $6.90 to $934.70...

BLOG does NOT give buy or sell.

Saleem

DOW / S&P 500 went to new bear lows.....

S&P 500 is the weakest of all indices as it went below 52 week low today...692.30 is the number to watch @ close....IF we close ABOVE then it was a RETEST of support.....

Dow also went below bear low..the number to watch in Dow is 6661.74..we ARE currently trading above that..so IF we close ABOVE then t was a successful RETEST of support.

Nasdaq also went lower than previous low of bear close...but stayed ABOVE Intraday low AGAIN.....a good NON-CONFORMATION.....which should help the sentiment.....

GOLD & GOLD stocks are strong as GOLD is UP $20.....

Oil is Down AGAIN..down $1.31....

Reason for today's weakness is that China denied any 2nd stimulus package for their economy for NOW......

Saw GE CFO interview on Internet...he was very CANDID about all issues @ GE.....

@ 12.34 following are green in my watch list:

IAG,KGC,MRVL,NVDA,SLV,ICE,JRCC,BIDU,
AUY,GG,ABX,AEM,NDN,DUG.

BLOG does NOT give buy or sell.

Saleem

Wednesday, March 4, 2009

Nice 2%+ rally today !!!!

Markets staged a deeply oversold rally today....

Internals were strong for day 1 of rally.....both advancing stocks & UP volume led by convincing ratio....

New lows also declined by 50% from yesterday...

Give full credit to China for its well defined pro-active approach to stimulating their economy for this rally.....

Today's rally cut the deep gloom which is being perpetuated by in-your face TV interviews about what IS wrong with everything 24/7.....

Most sectors participated in this rally except GOLD stocks & pure Potash plays due to LOWER pricing...

It is ironic that perpetrators of doom CNBC...its parent GE became a $5 stock today..it must be KARMA @ works.....what you do to others will come back @ you also in a strange way????

More economic data @ 830 AM......

AH Futures after factoring fair value Down slightly..

AH GOLD UP $6.20

BLOG does NOT give buy or sell.

Saleem

Have we seen the low in this bear market...probably !!!

Markets are firming UP against bleak data on jobless picture....

Nasdaq as expected IS lifting "most boats".....

Nasdaq remains the strongest index so far UP 2.5%..while other indices are tagging along for the ride with 2% gain......

CHINA IS the reason for confidence building move in markets..they DO KNOW what they are DOING for their economic revival...there is NO CONFUSION about their 8% GDP growth.....

GOLD UP $2.80...

OIL UP HUGE $3.70...I guess we will all start to use Gasoline again....

Most stocks are UP while gold stocks are taking a breather....

If we close "near HIGHS" technicians & shorts will take notice !!!!

BLOG does NOT give buy or sell.

Saleem

Tuesday, March 3, 2009

Nasdaq fighting back by closing above bear low....

Nasdaq briefly dipped below closing bear low but fought its way back to close well above bear low......Nasdaq intraday low was never touched......

Nasdaq index is giving lot of HOPE that this index can give support to the entire market.....only time will tell......

President Obama is TRYING to lift investors/traders spirit by telling them to buy stocks based on current PE ratio & to look long term.....will this "sage of CHANGE can CHANGE investors psychology to the bullish mode"...AGAIN only time will tell.....

Today's tape was not bad considering BB testimony & selling into close.....

Following stocks were among the green @ close :

PMCS,NVDA,RIMM,AAPL,AGU,POT,FSLR,ISRG,BIDU,
KGC,GG,DSX,GERN.

Futures after fair value are Down as follows:

Dow <59>

S&P 500 <8>

Nasdaq <9>

GOLD UP $3.50....

BLOG does NOT give buy or sell.

Saleem

Nasdaq hanging above intraday bear low....

Nasdaq went below closing low of November but not intraday low.

Gold down $27... But gold stocks are UP

Oil up 41 cents...

@ 1.00 PM following are green in my watch list :

PMCS,RIMM,NVDA,IPI,KGC,V,TKC,ICE,CCJ,
ABX,MA,BIDU,VLO,FSLR,ISRG,SNE,AAPL,
AGU,POT,GG,DSX.

BLOG does NOT give buy or sell.

Saleem

Monday, March 2, 2009

Nasdaq Still above intraday or closing bear lows....

Markets have no buying interest as new administration is struggling with clarity about current economic mess.....everything is up in the air in terms of resolution of banking issues or economic challenges.

President Obama needs to boost confidence of consumers & investors..instead of being wrapped up in political fight for changes on day one......based on current economic upheaval Obama should focus on getting the economic job done FIRST and DELAY all the CONTROVERSIAL changes in health care/taxation @ this stage... prudent TIMING is everything ....

Nasdaq is the lone index still hanging above lows????

Advance decline ratio now hitting extremes seen NEAR lows......

In NYSE declining stocks were leading by 15.79 to 1

In Nasdaq declining stocks were leading by 6.53 to 1.....

Down volume on NYSE were leading by 50.27 to 1

Down volume on Nasdaq were leading by 31.83 to 1

Down volume indicator is most extreme which I have observed.....sign of total CAPITULATION...????

BLOG does NOT give buy or sell.

Saleem

Nasdaq less than 20 points from closing bear low...

Nasdaq is getting closer & closer to November bear low......

AIG,Warren Buffett remarks are causing this new wave of selling....

Dow is well below 7000 ..currently @ 6827.81..down 235.12.....

S&P is also hitting new lows again......lower than previous intraday lows back in November....

Gold is fighting back is now near flat.....

Oil is taking a huge hit Down $4.43.....

Most stocks are down .....

Closing numbers will be very significant in terms of where we are......especially on Nasdaq !!!

BLOG does NOT give buy or sell.

Saleem

Sunday, March 1, 2009

This market has humbled all players..short or long???

This IS the-most difficult market for those born after depression.....

It seems that their is NO end in sight for this SHARP/SWIFT downward leaning market......

Every technical indicator HAS failed near any minor resistance point?

Everytime technical outfit like IBD inserts "markets in confirmed rally"...immediately we get an instant correction in markets?

Which means whenever we buy when technicals are showing improvement a new selling wave comes from nowhere......reasons are always a REHASH of what is ailing this economy for almost 8 months...

On June 5th 2008 Nasdaq was @ 2549.94 highest point in last 52 weeks.....today we are @ 1377.84 a drop of 1172.10 points or Down 45.97%...we are only 61.72 points from intraday low of 1316.12 on Nov 20th, 2008.....

Based on the weakness in the markets...there has been some buying near lows which is the reason that new lows are staying around 300 in NYSE & Nasdaq.....

The only LOGICAL approach MAY work is to buy beaten down or corrected stocks which are working...like Gold & Techs......

Small exposure MAY not be a bad idea as we test NEW LOWS in all indices......

Politics & slumping economic Numbers are the real culprit for this RENEWED downtrend......

There IS imminent hope that we are hitting the low point in economic picture as articulated by Ben Bernanke,Jean Claude Trichet as they are predicting recovery in 2010.

China on Friday is still insisting that 8% GDP growth is still on track for 09..in Q4 China hit a low point of 6.8% GDP....

Canada Central bank Governor is even more optimistic that growth will return in 2nd half of 09??....IF US stimulus takes its effect.

Most investors/traders are hurting which includes Warren Buffett..who is also hopeful for 2010.

Those who have 2 years horizon will do well if they buy near lows & WAIT for economy to TURN...

Tech stocks so far are showing sign of life..as they are NOT hitting new lows with indices....so it MAY be the SAFEST place to assign some capital......

This week will be a real test of markets support.....HOPEFULLY it will find support NEAR these levels....as markets are overdue to look beyond current numbers....markets are trying to digest how bad we will get before we get better.

BLOG does NOT give buy or sell.

Saleem