Markets were facing selling pressure from open but managed to close near break even point...a sure sign of strength...if you factor this was the result of five weeks of back to back gain.
Anytime there is a minor selling buyers wants IN.....
GS reported AH and beat the expectations handily...doing $5 Billion in stock sale to pay off TARP.....stock down $2 from close....
INTC reports AH Tuesday...expecting a beat & guide UP...which should reignite techs AGAIN...
Many stocks were green today with Financials,Shipping,Solar,Ag & online gaming were big winners.....
Futures are all bright GREEN.....
VIX stayed below 40 three days in a row ...closed @ 37.81...NICE !!!!
BLOG does NOT give buy or sell.
Saleem
6 comments:
Saleem,
I did not see you have any financial stock. Is there any reason behind it? I got C at 1.3 and BAC at 4.5. I don't know if it is the time to cash in or not. Thanks.
Michael
Hi Michael,
No...I do not have any financials yet.....
BAC & C RSI are near 70...close to overbought level....
When you have this good profit....it is WISE to lock profit..imho
Do not fight for the last $....
After few weeks..you can always buy back those stocks..as they need rest & rebuild technical strength.
Saleem
Hi Saleem,
Why would GS put more common on the market, pushing down the stock price?
Another buying opportunity or trap?
Best Regards
Hi Standards,
GS & other financials have moved UP sharply...so the price IS HIGH enough for stock sale....& interest from investors in finacials are HIGH...
I MAY be wrong..but financials are overbought for now..lot of good news is PRICED IN???
GS is an excellent trading house..even in TIMING their own stock sale !!!!
Saleem
Hi Saleem,
A new issue to watch CYOU. Making a big move.
Better watch our profits, guru's pointing to overbought conditions. Not enough good news and a wave of bad news could drive the market back down. FYI
Best Regards
Hi Standards,
All online gaming stocks from China are on FIRE !!!!
This is an IPO of online game division from SOHU ???
I think they are overbought...imho
This is NOT a market to CHASE any stock...always BUY when basing..for next move UP!!!
Saleem
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