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
8 comments:
Saleem,
I hope you're right, but I'm afraid we hit the 50 day on the S&P and we're in for a re-test of the lows.
Hi Victor,
Yes..pullback after a huge runup is always in the cards....
Retest of lows....NO
A classic pullback is 50% retracement....which will give us another solid base and staging point...all imho
Saleem
Hi Saleem,
Yes, GE is a keeper at this price. Their financial unit will make a profit in 09. Bought for the IRA.
Next!
Best Regards
Saleem,
A 50% retracement puts us where on the S&P according to your calculations?
Hi Victor,
S&P 500 has strong support from 743 to 753 area.....
I worry much more about individual stocks than the direction of indices....
Rotation in different sectors will negate any pullback in S&P 500.
Stocks are improving..against market sentiment....
Saleem
Hello ALL
The market are showing improvement
When we all no longer worry the market will have corrected over 50% --it is starting already.
This market is steady as she goes. Baring any BIG news coming out we will continue to rotate and the market will climb higher.
Look at my DSX and FRO huge POP, yesterday
GS and MON went way down
Look for the tech sector to enjoy more up side
My APPLE 100 shares are up from $88 to a whopping $105 and going to $120 as more funds continue to buy it.
Even DELL is showing some strength--It has a new lap top that has shown lots of buzz ---look for DEll to romp--IMHO
Cheers
Hi Madmax,
Nice recap of market & individual stock.
We are GREEN $$$$
Saleem
Some news on DRYS
this may be the reason for the drop in share price:
Dry bulk shipping stocks are slipping today as investors eye the slumping Baltic Dry Index, which tracks shipping rates.
After running up sharply to start the year, the Baltic Dry Index has retreated in recent days. A brief uptick in iron ore demand by China's steelmakers had been driving the shipping rebound, but according to the Shanghai Daily, the China Iron and Steel Association said this week that China's steel exports may plummet by 80% this year, a decline that would significantly dampen demand for dry bulk shippers.
Good Luck
Post a Comment