Contrary to historical interpretation of markets in May & June...we are on the verge of a major rally which will be the-best for the month of June.....
Remember.... Sell in May & go away.....what happened to that market mantra....
Now June is being touted as the month when we lose .54% on average......
Why am I so optimistic for June.......????
Reasons are many :
-Close to $3 trillion still sitting on the sidelines..... itching to jump in....
-Economy worldwide actually has a pulse......
-Fear & uncertainty is fading away from the psyche of investors/traders/consumers....
-Many institutions/retail/hedge funds have completely missed this rally....
-BDI has moved above 200 DMA....a major index for economic turnaround.....
-June is end of 2nd Q...MAJOR window dressing HAS to be done on the BUY side...thus an explosive move UP..... well beyond 200 DMA.....
On the technical side.....let us look @ RSI in major indices :
S&P 500 RSI 59.04
Dow Jones RSI 57.51
Nasdaq RSI 61.54
As per my analysis..FAIR value is 70 for indices based on the history of last four months where we last touched @ start of May.....In June we have a very good chance of hitting 80 in RSI !!!!
RSI will reflects improving trendline in sentiments.....
Nasdaq is the only indices which is @ the highest level above 200 DMA since this rally started....Nasdaq is also getting close to golden cross...when that happens ...watch out $$$$$
Nasdaq fair value is being revised UP to 1950......I have a strong feeling that we MAY cross 2000 in June "meltUP"
I was getting worried with low volume...which changed completely on Friday with last 20 minute buying binge for May month-end.......
I always monitor market tape closely which includes breadth & volume.....which is an advance indicator of the health of the entire market......
So what looks good......
Nasdaq based stocks are the place to be....
Strong stocks will become stronger.......
AAPL,RIMM,AMZN,GOOG,GS,MA,V,ISRG,SEA,IPI,POT,BIDU,ICE,FSLR,
FXI.....are some of the many ideas which may work......
It is better to do homework continuously..than just be lucky !!!!!
This is going to be a bull market for many years ...so it is important to become a better investor / trader...
Good luck in your OWN homework......
Stay DIVERSIFIED in many sectors......
Always monitor your OWN comfort level with your exposure.....as markets WILL correct along the way......
BLOG does NOT give buy or sell.
Saleem
Sunday, May 31, 2009
Saturday, May 30, 2009
BUY rated stocks for " higher HIGHS" !!!
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
BIIB,TBSI,PTIE,GLF,TU,ZN,NJ,SVU,ILMN,MU,
ATVI,CEDU,CTRP,GROW,HMIN,INFY,MSFT,
NVTL,ORCL,PALM,SBUX,YHOO,XLNX,COH,
DSX,FCS,HST,JCG,STM,VLO,ZNH,PAL,UXG,SLW,
AUY,CCJ,SPWRA,STP,TKC.
Next post by 10 AM Sunday.
BLOG does NOT give buy or sell.
Saleem
BIIB,TBSI,PTIE,GLF,TU,ZN,NJ,SVU,ILMN,MU,
ATVI,CEDU,CTRP,GROW,HMIN,INFY,MSFT,
NVTL,ORCL,PALM,SBUX,YHOO,XLNX,COH,
DSX,FCS,HST,JCG,STM,VLO,ZNH,PAL,UXG,SLW,
AUY,CCJ,SPWRA,STP,TKC.
Next post by 10 AM Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, May 29, 2009
Last minute high volume buying frenzy took hold !!!
Markets were drifting in flattish mode until last 30 minutes...when high volume buying frenzy took hold....that took Indices from 1.15% to 1.36% higher.....
Nasdaq is the-superstar again by closing @ new recent high...highs begets new highs....as the saying goes.....
VIX promptly closed @ 28.92 down 8.68%......
Canadian $ had the-best close UP 1.90 cents today ....since march lows against US$.....this prompted angry reaction from Canadian finance minister who is making no bones about being unhappy with rise in Canadian currency as it hurts exports..which is needed in weak economic environment.....
Major move today by following stocks :
ISRG,GOOG,BIDU,MA,V,FXI,PALM,POT,CCJ,STP,CSIQ,GNK.....
By 10AM Saturday..i will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Nasdaq is the-superstar again by closing @ new recent high...highs begets new highs....as the saying goes.....
VIX promptly closed @ 28.92 down 8.68%......
Canadian $ had the-best close UP 1.90 cents today ....since march lows against US$.....this prompted angry reaction from Canadian finance minister who is making no bones about being unhappy with rise in Canadian currency as it hurts exports..which is needed in weak economic environment.....
Major move today by following stocks :
ISRG,GOOG,BIDU,MA,V,FXI,PALM,POT,CCJ,STP,CSIQ,GNK.....
By 10AM Saturday..i will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Indices are flat......
Markets got many good economic news..but tape has been flattish..so far....
Consumer sentiment highest since September.....
The issue today is ..as to how much good news is priced in ????
So...we MAY go through sideways tape......
Also there is lot of OPTIMISM baked in the market....
GOLD UP $17.10 @ $978.60
Oil UP $1.01 @ $66.09
Canadian $ Up another 1.72 cents against US$.....@91.42 cents against US$....
In my portfolio :
Sold PALM
Added 40% more MPEL
Bought AMZN
Bought IPI
Portfolio is AMZN,IPI,MRVL,MPEL,PMCS....
@ 12.32 following are among green :
STP,PALM,RCI,CCJ,POT,FXI,ISRG,GOOG,BIDU,MA,V,
CSIQ,GNK.
BLOG does NOT give buy or sell.
Saleem
Consumer sentiment highest since September.....
The issue today is ..as to how much good news is priced in ????
So...we MAY go through sideways tape......
Also there is lot of OPTIMISM baked in the market....
GOLD UP $17.10 @ $978.60
Oil UP $1.01 @ $66.09
Canadian $ Up another 1.72 cents against US$.....@91.42 cents against US$....
In my portfolio :
Sold PALM
Added 40% more MPEL
Bought AMZN
Bought IPI
Portfolio is AMZN,IPI,MRVL,MPEL,PMCS....
@ 12.32 following are among green :
STP,PALM,RCI,CCJ,POT,FXI,ISRG,GOOG,BIDU,MA,V,
CSIQ,GNK.
BLOG does NOT give buy or sell.
Saleem
Thursday, May 28, 2009
About 1.5% UP move in Indices......
Markets moved UP again not pleasing those who are praying for it to go down......
Internals were much more stronger than the close.....
Advancing stocks leading decliners by 2 to 1 in NYSE & 14 to 11 in Nasdaq
UP volume were leading by 3 to 1 in NYSE & Nasdaq.....
12 & 29 new highs.......
AH Dell reported which was a miss on revenue but beat on EPS...UP 16 cents AH on 2.63 million shares...they do not give guidance and are predicting tough IT environment.....
AH MRVL reported in-line EPS of 5 cents and beat in Sales....
Guiding much higher in EPS 10 cents vs 7 cents consensus and Sales of $560 million vs consensus of $532.2 million.....reward for all this Down 41 cents on 1.48 million shares....i do expect many upgrades.....CEO made cautionary comments re euphoria about a rebound in economy...they are much more cautious about 2nd half......my guess they are playing UPOD for coming Q......
AH Futures are mini RED...
Nikkei is mini GREEN.....
Many strong stocks participated in today's rally..Techs,Financials,Oil,Bulk Dry shippers,Ag & select Solars......
BLOG does NOT give buy or sell.
Saleem
Internals were much more stronger than the close.....
Advancing stocks leading decliners by 2 to 1 in NYSE & 14 to 11 in Nasdaq
UP volume were leading by 3 to 1 in NYSE & Nasdaq.....
12 & 29 new highs.......
AH Dell reported which was a miss on revenue but beat on EPS...UP 16 cents AH on 2.63 million shares...they do not give guidance and are predicting tough IT environment.....
AH MRVL reported in-line EPS of 5 cents and beat in Sales....
Guiding much higher in EPS 10 cents vs 7 cents consensus and Sales of $560 million vs consensus of $532.2 million.....reward for all this Down 41 cents on 1.48 million shares....i do expect many upgrades.....CEO made cautionary comments re euphoria about a rebound in economy...they are much more cautious about 2nd half......my guess they are playing UPOD for coming Q......
AH Futures are mini RED...
Nikkei is mini GREEN.....
Many strong stocks participated in today's rally..Techs,Financials,Oil,Bulk Dry shippers,Ag & select Solars......
BLOG does NOT give buy or sell.
Saleem
Markets are back on GREEN track....NICE !!!!
Durable goods orders were higher than expected.....
Even new home sales were UP...not as much as experts... but they were UP .3%....
GM is going to become Government Motors (US owns 72%) when they file for chapter 11 on June 1.....
Jobless claims better than expected.....
All in all an improving trend....
Gold UP $10.20
Oil UP $1.01
Canadian $ UP another 42 tick against US$... close to highest level since March......
Portfolio is MRVL ( reports AH..expecting a beat and guide higher),MPEL,PMCS,PALM.
@ 11.36 AM following are green :
PALM,RIMM,IPI,RCI,RIMM,CCJ,IBN,POT,
GOOG,BIDU,GS,MA,TSL,FSLR.
BLOG does NOT give buy or sell.
Saleem
Even new home sales were UP...not as much as experts... but they were UP .3%....
GM is going to become Government Motors (US owns 72%) when they file for chapter 11 on June 1.....
Jobless claims better than expected.....
All in all an improving trend....
Gold UP $10.20
Oil UP $1.01
Canadian $ UP another 42 tick against US$... close to highest level since March......
Portfolio is MRVL ( reports AH..expecting a beat and guide higher),MPEL,PMCS,PALM.
@ 11.36 AM following are green :
PALM,RIMM,IPI,RCI,RIMM,CCJ,IBN,POT,
GOOG,BIDU,GS,MA,TSL,FSLR.
BLOG does NOT give buy or sell.
Saleem
Wednesday, May 27, 2009
1.11% to 2.05% loss in Indices...thanks to Bond Yield....
After 5 year treasury auction ..10 year Bond yield went UP....Higher interest rate which was unexpected did not sit well with stock market.....so we went down in a hurry......
Nothing got derailed in terms of future trend of the market...which is still UP.....
Market internals were weak as expected with declining stocks & Down volume in clear lead.....
Even VIX did a U turn & closed higher @ 32.36 UP 5.68%...
Futures are mini RED...it will be a different story before open......
Solar,Techs survived the downdraft for the most part.....
Keep an eye on overbought sectors..Oil,Solar comes to mind......always have a selling strategy & never fight for the last $$......
Also have a buying strategy...days like today gives you good entry point ......
BLOG does NOT give buy or sell.
Saleem
Nothing got derailed in terms of future trend of the market...which is still UP.....
Market internals were weak as expected with declining stocks & Down volume in clear lead.....
Even VIX did a U turn & closed higher @ 32.36 UP 5.68%...
Futures are mini RED...it will be a different story before open......
Solar,Techs survived the downdraft for the most part.....
Keep an eye on overbought sectors..Oil,Solar comes to mind......always have a selling strategy & never fight for the last $$......
Also have a buying strategy...days like today gives you good entry point ......
BLOG does NOT give buy or sell.
Saleem
Nasdaq UP again....NICE !!!!
Nasdaq is showing relentless leadership with another green day......
Nasdaq is giving clear indication that recession is coming to an end and we are in a bull market....techs are heading much much HIGHER.....
Gold is UP $1.40
Oil is UP .50 cents to $62.95
Canadian $ is UP again against US$ Up another 51 tick and challenging 90 cents US....
VIX @ 29.73 down 2.91%...going in the right direction...
In my portfolio :
Added 50% more MRVL (reports AH Thursday)....
Added 50% MORE MPEL City Of Dreams Opens June 1....
Both stocks are rated for breakout by www.stockconsultants.com
Portfolio remains MRVL,MPEL,PMCS,PALM.....
Mr Roubini after bashing US & World economy that world economy is in total collapse?? is now PREDICTING recession ending in US by end of the year...also predicting robust growth of 6% in China ......saying Asia will lead in growth..I guess we knew all that for a long time now...PHD's makes you a "slow learner".....us "street smart traders" sensed all that back in March......
@12.12 following stocks are strong:
PMCS,MPEL,MRVL,SNDK,STP,TSL,AAPL,RIMM,
AMZN,IBN,FXI,GOOG,BIDU,GS,MA,V,ICE,X,CSIQ.
BLOG does NOT give buy or sell.
Saleem
Nasdaq is giving clear indication that recession is coming to an end and we are in a bull market....techs are heading much much HIGHER.....
Gold is UP $1.40
Oil is UP .50 cents to $62.95
Canadian $ is UP again against US$ Up another 51 tick and challenging 90 cents US....
VIX @ 29.73 down 2.91%...going in the right direction...
In my portfolio :
Added 50% more MRVL (reports AH Thursday)....
Added 50% MORE MPEL City Of Dreams Opens June 1....
Both stocks are rated for breakout by www.stockconsultants.com
Portfolio remains MRVL,MPEL,PMCS,PALM.....
Mr Roubini after bashing US & World economy that world economy is in total collapse?? is now PREDICTING recession ending in US by end of the year...also predicting robust growth of 6% in China ......saying Asia will lead in growth..I guess we knew all that for a long time now...PHD's makes you a "slow learner".....us "street smart traders" sensed all that back in March......
@12.12 following stocks are strong:
PMCS,MPEL,MRVL,SNDK,STP,TSL,AAPL,RIMM,
AMZN,IBN,FXI,GOOG,BIDU,GS,MA,V,ICE,X,CSIQ.
BLOG does NOT give buy or sell.
Saleem
Tuesday, May 26, 2009
Nasdaq strongest Again UP 3.45%...NICE !!!!
Nasdaq led the charge UP as the-leader ...other indices followed.....
S&P 500 went down to 881.46...not even close to much dreaded 875.....and made a U turn to close @ 910.33 near high of the day......there is a very good chance that we MAY take the recent high and go much HIGHER.....
Most of the techs were oversold as documented with RSI numbers.....so a rally was imminent...again around 70 RSI....keep a watchful eye....
AH Futures are as follows :
Dow <25.49>
S&P500 <2.63>
Nasdaq <3.06>
Market internals were strong......
Volume is typical of summer...so NOT an issue......
Many stocks are slated for breakout as per www.stockconsultant.com know about it & benefit from it....they give 6 free consult every 24 hours after 5PM......
There ARE many skeptics of market rally from 660 level...which is great for making higher highs...
Buying on weakness and selling near resistance is extremely profitable.
BLOG does NOT give buy or sell.
Saleem
S&P 500 went down to 881.46...not even close to much dreaded 875.....and made a U turn to close @ 910.33 near high of the day......there is a very good chance that we MAY take the recent high and go much HIGHER.....
Most of the techs were oversold as documented with RSI numbers.....so a rally was imminent...again around 70 RSI....keep a watchful eye....
AH Futures are as follows :
Dow <25.49>
S&P500 <2.63>
Nasdaq <3.06>
Market internals were strong......
Volume is typical of summer...so NOT an issue......
Many stocks are slated for breakout as per www.stockconsultant.com know about it & benefit from it....they give 6 free consult every 24 hours after 5PM......
There ARE many skeptics of market rally from 660 level...which is great for making higher highs...
Buying on weakness and selling near resistance is extremely profitable.
BLOG does NOT give buy or sell.
Saleem
Indices UP 2% to 3%.....NICE !!!!
Just about every technician on this planet was predicting market correcting to much lower level...based on simple logic that "we have gone too far too fast"......
Guess what.....we are going farther than .....what many technicians are ready for......
Today we are witnessing "short squeeze".......
Markets have done their consolidation already......
New bull market always displays strength which "most technicians will miss".....
Consumers are NOT buying doom & gloom from our favourite business channel...as they are smarter than most "talkers on doom TV"
Many stocks are showing great strength.....
Almost 4 to 1 lead by advancing stocks.....
UP volume crushing down volume.....+67% to +87%.....
VIX down to 30.67..down 6.01%......
Gold Down $7.70
Oil Down 2 cents
Portfolio is MRVL,MPEL,PMCS,PALM......
Canadian $ UP 25 tick against US$.......
Most stocks are UP nicely......$$$$$
BLOG does NOT give buy or sell.
Saleem
Guess what.....we are going farther than .....what many technicians are ready for......
Today we are witnessing "short squeeze".......
Markets have done their consolidation already......
New bull market always displays strength which "most technicians will miss".....
Consumers are NOT buying doom & gloom from our favourite business channel...as they are smarter than most "talkers on doom TV"
Many stocks are showing great strength.....
Almost 4 to 1 lead by advancing stocks.....
UP volume crushing down volume.....+67% to +87%.....
VIX down to 30.67..down 6.01%......
Gold Down $7.70
Oil Down 2 cents
Portfolio is MRVL,MPEL,PMCS,PALM......
Canadian $ UP 25 tick against US$.......
Most stocks are UP nicely......$$$$$
BLOG does NOT give buy or sell.
Saleem
Sunday, May 24, 2009
Last 5 weeks S&P 500 gone nowhere???
On April 17th S&P 500 was @ 875......
Friday May 22nd S&P 500 low was 883.....
So...in the last 5 weeks..it was a market to "nowhere"....
S&P 500 is showing interesting pattern....
May 13 883.92,
May 15 882.88,
May 22 883.75..
so in the last 8 trading days we are basing in 883 area?
S&P500 needed to consolidate after a major move from 666 on March 6th to 929 on May 8th..
8 week of 263 points gain or a move UP of 39.49%.......
Looking @ another way S&P 500 is @ same level as it was back in October of 2008.....
IN 8 months S&P 500 Drop of 263 points and regained 221 points as of Fridays close of 883.75.....
So...S&P 500 have given back 42 points from May 8th High or a 4.5% pullback.......
Somehow 4.5% pullback seems more painful than it should???
Lot of stocks have given up major part of their gains in that small pullback??
So...the question is???
Are we ready to move back UP higher than before???
RSI on S&P 500 is @ 51.86...which IS @ same level as back in March 9th???
March 9th was near market bottom???
So..@ least RSI is looking very promising for a major move UP......
I have found RSI more reliable in picking market trend & stocks.....
In this selling many stocks have gone below their recent trading range in RSI.....
I use www.stockcharts.com for a read of their 4 month RSI trend under "default sharpcharts" in the heading of gallery view.....
RSI range of 50 to BUY & 70 to SELL works most of the time....but 4 month trend must be analyzed for decision making on both BUY & SELL decision...each stock has their own trend in RSI.....
Here is a sample of RSI of stocks which I own & other very compelling names :
MRVL...54.45
MPEL...56.45
PMCS...43.28
PALM...46.22
AAPL...48.69
RIMM...55.63
GOOG...53.52
AMZN...46.09
BIDU...58.98
GS....57.17
GE....53.28
MA....46.79
V.....57.09
IPI....66.37
POT..71.50
AGU..65.32
NVDA..47.21
ISRG...49.60
FSLR...60.08
As you can clearly see that some stocks are holding better than others.....
Also..you can see that their is a sector trend .....some sector are holding better than other sector.
This type of monitoring CAN help you in your OWN buying decision......
It is always useful to see where is the "Relative Strength Indicator"
RSI is a useful tool BUT it is important to mix it with Fundamental analysis...which I always do FIRST ......
So for me 70% FA & then only 30% TA......
So...are you READY for the next major leg UP which may take us very close to 1000 in S&P 500...
Good luck in your OWN homework.
Do NOT forget to DIVERSIFY in many sectors or sub-sectors.
BLOG does NOT give buy or sell.
Saleem
Friday May 22nd S&P 500 low was 883.....
So...in the last 5 weeks..it was a market to "nowhere"....
S&P 500 is showing interesting pattern....
May 13 883.92,
May 15 882.88,
May 22 883.75..
so in the last 8 trading days we are basing in 883 area?
S&P500 needed to consolidate after a major move from 666 on March 6th to 929 on May 8th..
8 week of 263 points gain or a move UP of 39.49%.......
Looking @ another way S&P 500 is @ same level as it was back in October of 2008.....
IN 8 months S&P 500 Drop of 263 points and regained 221 points as of Fridays close of 883.75.....
So...S&P 500 have given back 42 points from May 8th High or a 4.5% pullback.......
Somehow 4.5% pullback seems more painful than it should???
Lot of stocks have given up major part of their gains in that small pullback??
So...the question is???
Are we ready to move back UP higher than before???
RSI on S&P 500 is @ 51.86...which IS @ same level as back in March 9th???
March 9th was near market bottom???
So..@ least RSI is looking very promising for a major move UP......
I have found RSI more reliable in picking market trend & stocks.....
In this selling many stocks have gone below their recent trading range in RSI.....
I use www.stockcharts.com for a read of their 4 month RSI trend under "default sharpcharts" in the heading of gallery view.....
RSI range of 50 to BUY & 70 to SELL works most of the time....but 4 month trend must be analyzed for decision making on both BUY & SELL decision...each stock has their own trend in RSI.....
Here is a sample of RSI of stocks which I own & other very compelling names :
MRVL...54.45
MPEL...56.45
PMCS...43.28
PALM...46.22
AAPL...48.69
RIMM...55.63
GOOG...53.52
AMZN...46.09
BIDU...58.98
GS....57.17
GE....53.28
MA....46.79
V.....57.09
IPI....66.37
POT..71.50
AGU..65.32
NVDA..47.21
ISRG...49.60
FSLR...60.08
As you can clearly see that some stocks are holding better than others.....
Also..you can see that their is a sector trend .....some sector are holding better than other sector.
This type of monitoring CAN help you in your OWN buying decision......
It is always useful to see where is the "Relative Strength Indicator"
RSI is a useful tool BUT it is important to mix it with Fundamental analysis...which I always do FIRST ......
So for me 70% FA & then only 30% TA......
So...are you READY for the next major leg UP which may take us very close to 1000 in S&P 500...
Good luck in your OWN homework.
Do NOT forget to DIVERSIFY in many sectors or sub-sectors.
BLOG does NOT give buy or sell.
Saleem
Saturday, May 23, 2009
BUY rated stocks for " another UPLEG" !!!
Following stocks are flashing a buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
RVBD,LIHR,AEM,ABX,MCD,NYX,CSIQ,WIND,
ADM,XIN,ADSK,SWIR,YTEC,MIPS,ARO,MBT,PCZ,
HL,RCI,AMCC,CME,GMKT,NTES,SABA,ZBRA,ELX,
IAG,SAY,STD.
Next post by 10 AM Sunday.
BLOG does NOT give buy or sell.
Saleem
RVBD,LIHR,AEM,ABX,MCD,NYX,CSIQ,WIND,
ADM,XIN,ADSK,SWIR,YTEC,MIPS,ARO,MBT,PCZ,
HL,RCI,AMCC,CME,GMKT,NTES,SABA,ZBRA,ELX,
IAG,SAY,STD.
Next post by 10 AM Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, May 22, 2009
Indices ended in RED......on Low,LOW volume....
Markets were in mini RED on extremely low volume...which is a good thing.....
Down volume were in the lead.....
VIX taking a move UP closing @ 32.63 UP 4.08%...NOT a good sign ???
Gold,Crude & CAD UP to recent HIGHS......
In my portfolio :
Sold EGLE...
Bought MRVL....
Added PALM & PMCS.....
Portfolio is MPEL,MRVL,PMCS & PALM....
Strong stocks were IPI,RCI,IBN,AGU,POT,SOHU,NTES,MPEL,TLM,IAG,SHLD.....
Saturday by 10AM....I will post list of buy rated stocks.
Enjoy Memorial day long weekend...with friends & family !!!!
BLOG does NOT give buy or sell.
Saleem
Down volume were in the lead.....
VIX taking a move UP closing @ 32.63 UP 4.08%...NOT a good sign ???
Gold,Crude & CAD UP to recent HIGHS......
In my portfolio :
Sold EGLE...
Bought MRVL....
Added PALM & PMCS.....
Portfolio is MPEL,MRVL,PMCS & PALM....
Strong stocks were IPI,RCI,IBN,AGU,POT,SOHU,NTES,MPEL,TLM,IAG,SHLD.....
Saturday by 10AM....I will post list of buy rated stocks.
Enjoy Memorial day long weekend...with friends & family !!!!
BLOG does NOT give buy or sell.
Saleem
.50% move UP in Indices.....
Markets are trying to regain its footing after three days of selling ....
Selling was triggered by concern about economy and debt rating of US which is rumoured to be downgraded along with UK.....
Memorial day long weekend is also impacting trading as next Monday stocks trades all over the world except US......
Gold UP $7.20
Oil Down 17 cents
Canadian $ is UP 1.25 cent against US$ another new high since March...very NICE $$$$
In my portfolio :
Sold TLM.....
Portfolio is EGLE,MPEL,PMCS,PALM.....
@ 12.28 following stocks are strong:
IBN,AGU,POT,ISRG,GS,IPI,TSL,RCI,KGC,
CTRN,ICE,SOHU,NDAQ,NYX,ABX,GG.
BLOG does NOT give buy or sell.
Saleem
Selling was triggered by concern about economy and debt rating of US which is rumoured to be downgraded along with UK.....
Memorial day long weekend is also impacting trading as next Monday stocks trades all over the world except US......
Gold UP $7.20
Oil Down 17 cents
Canadian $ is UP 1.25 cent against US$ another new high since March...very NICE $$$$
In my portfolio :
Sold TLM.....
Portfolio is EGLE,MPEL,PMCS,PALM.....
@ 12.28 following stocks are strong:
IBN,AGU,POT,ISRG,GS,IPI,TSL,RCI,KGC,
CTRN,ICE,SOHU,NDAQ,NYX,ABX,GG.
BLOG does NOT give buy or sell.
Saleem
Thursday, May 21, 2009
Market Down less than 2% on lower volume......
Markets were deluged with many comments as to how economy is not as good as previously articulated by people who should know better......
Markets tried to digest this change of tune on low volume...which is a good thing......
I do not believe that there is a change in markets perception of how economy will unfold...everything seems to be going as it should.......
Everybody is over-analyzing as to "how the economy is doing TODAY"...economy is going through a "change for the better & markets knows this fact"
Day to day stats are NOT important...it is being exploited towards a "certain strategy"...nothing wrong with that if HERD is going to fall for it.......
If you believe "all the noise as to how bad economy & markets are going to get" then we should have been down 400 points????
AH futures are all lit UP green.....
OIL,GOLD,Nat Gas,Silver & Canadian $...are all UP AH ......sign of a strong market....
Inflation is NOT coming back anytime soon.....GOLD/OIL/CAD are all accounting for a collapse in US$...nothing more !!!!
AH EXM had good ER...UP 12.71%..most Shipping stocks were UP in sympathy......
NTES,NDAQ,MA,V,NYX,CSIQ were among strong stocks.....
PS..I am posting later than my usual time .....because of need to do extensive research AH to cut through all the noise & hysteria.....especially when markets are gyrating the way it is.....
BLOG does NOT give buy or sell.
Saleem
Markets tried to digest this change of tune on low volume...which is a good thing......
I do not believe that there is a change in markets perception of how economy will unfold...everything seems to be going as it should.......
Everybody is over-analyzing as to "how the economy is doing TODAY"...economy is going through a "change for the better & markets knows this fact"
Day to day stats are NOT important...it is being exploited towards a "certain strategy"...nothing wrong with that if HERD is going to fall for it.......
If you believe "all the noise as to how bad economy & markets are going to get" then we should have been down 400 points????
AH futures are all lit UP green.....
OIL,GOLD,Nat Gas,Silver & Canadian $...are all UP AH ......sign of a strong market....
Inflation is NOT coming back anytime soon.....GOLD/OIL/CAD are all accounting for a collapse in US$...nothing more !!!!
AH EXM had good ER...UP 12.71%..most Shipping stocks were UP in sympathy......
NTES,NDAQ,MA,V,NYX,CSIQ were among strong stocks.....
PS..I am posting later than my usual time .....because of need to do extensive research AH to cut through all the noise & hysteria.....especially when markets are gyrating the way it is.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 884 area holding so far......
Markets are going through reactive mode to many commentary which was negative and ignoring a key economic report which was positive LEI was better than expected....
I expect markets to zero in on LEI before the day is over......
These corrections which is sharp & swift is very good for the market & clear the way for UP move AGAIN.....
It is a very good day to buy strong stocks on sale...they needed a pullback and we got it.....indices will be led by the same group which has been strong and new sectors will join in when more clarity is there for the economic picture....
GOLD UP $3.00
OIL Down $ 1.67 to $60.37
Canadian $ is UP another 3 tick against US$ after closing yesterday @ highest level since March....
Portfolio is EGLE,MPEL,PMCS,PALM,TLM....
@ 12.10 following are Green :
V,FMCN,KGC,C,BRCD,ICE,IGT,NDAQ,
MA,NYX,ABX,GG,GS,GOOG,BAC,CSIQ......
BLOG does NOT give buy or sell.
Saleem
I expect markets to zero in on LEI before the day is over......
These corrections which is sharp & swift is very good for the market & clear the way for UP move AGAIN.....
It is a very good day to buy strong stocks on sale...they needed a pullback and we got it.....indices will be led by the same group which has been strong and new sectors will join in when more clarity is there for the economic picture....
GOLD UP $3.00
OIL Down $ 1.67 to $60.37
Canadian $ is UP another 3 tick against US$ after closing yesterday @ highest level since March....
Portfolio is EGLE,MPEL,PMCS,PALM,TLM....
@ 12.10 following are Green :
V,FMCN,KGC,C,BRCD,ICE,IGT,NDAQ,
MA,NYX,ABX,GG,GS,GOOG,BAC,CSIQ......
BLOG does NOT give buy or sell.
Saleem
Wednesday, May 20, 2009
Fed downward tweaking for economy gave minor negative close....
Today's tape was not bad considering Fed came in with downward adjustment to the economic picture....
As markets are elevated so there is quick reaction to any negative adjustment about economic picture...
Trading this market is extremely "critical" as we move forward.....some sectors are extremely overbought....Solar,Ag,Financials comes to mind immediately.....some leading techs are looking "tired".....
One needs to do serious homework to monitor RSI & TAPE on an hourly basis......as per www.stockcharts.com
70 RSI is a serious resistance.....
OIL,GOLD,Shipping, Commodities are safer as we meander through May & June.....
It IS a stock pickers market...so need to follow FA/TA/TAPE daily to rotate out & rotate IN.....
So..... KNOW your stocks with a trading perspective...IF you are a trader........
Futures are all small RED.....
Nikkei is Down 113.....
Please recognize that "easy money has been made"......
Diversification in neutral to oversold stocks "is the way to go"
PS....EGLE has Annual General Meeting @ 10AM Thursday....
BLOG does NOT give buy or sell.
Saleem
As markets are elevated so there is quick reaction to any negative adjustment about economic picture...
Trading this market is extremely "critical" as we move forward.....some sectors are extremely overbought....Solar,Ag,Financials comes to mind immediately.....some leading techs are looking "tired".....
One needs to do serious homework to monitor RSI & TAPE on an hourly basis......as per www.stockcharts.com
70 RSI is a serious resistance.....
OIL,GOLD,Shipping, Commodities are safer as we meander through May & June.....
It IS a stock pickers market...so need to follow FA/TA/TAPE daily to rotate out & rotate IN.....
So..... KNOW your stocks with a trading perspective...IF you are a trader........
Futures are all small RED.....
Nikkei is Down 113.....
Please recognize that "easy money has been made"......
Diversification in neutral to oversold stocks "is the way to go"
PS....EGLE has Annual General Meeting @ 10AM Thursday....
BLOG does NOT give buy or sell.
Saleem
Nasdaq stronger..... UP .73%
Markets are staying green with Nasdaq leading other indices....
BAC share sale became a catalyst for the market..."shoring up capital is good for confidence"
GOLD UP $11.70
OIL UP $1.70
Canadian $ is @ new high against US$ UP 1.10 cent.....
VIX @ 28.11.....another low.....
In my portfolio :
Added 50% more PALM on a downgrade....
Portfolio is EGLE,MPEL,PMCS,PALM,TLM.....
I am fully invested in my trading account....
MPEL reported in-line EPS but sales missed estimates...City Of Dreams opening in two weeks..which should help with Sales.....
@ 12.21 following are among strong stocks :
TLM,GNK,EGLE,RCI,CCJ,RIMM,AGU,POT,TSL,
GOOG,BIDU,AMZN,MA,X.....
BLOG does NOT give buy or sell.
Saleem
BAC share sale became a catalyst for the market..."shoring up capital is good for confidence"
GOLD UP $11.70
OIL UP $1.70
Canadian $ is @ new high against US$ UP 1.10 cent.....
VIX @ 28.11.....another low.....
In my portfolio :
Added 50% more PALM on a downgrade....
Portfolio is EGLE,MPEL,PMCS,PALM,TLM.....
I am fully invested in my trading account....
MPEL reported in-line EPS but sales missed estimates...City Of Dreams opening in two weeks..which should help with Sales.....
@ 12.21 following are among strong stocks :
TLM,GNK,EGLE,RCI,CCJ,RIMM,AGU,POT,TSL,
GOOG,BIDU,AMZN,MA,X.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, May 19, 2009
Flat day by close.....
Markets were trading in a narrow range resulting in minor loss in Dow & S&P 500...Nasdaq was UP by two point......
UP volume led down volume.......
AH..BAC issuing 825 million more shares @ $10.....
AH HPQ gave a lower Sales guidance than consensus....
Both stocks Down AH.....
Futures are small RED..which is a very good sign considering AH news.....
Nikkei is UP.....
VIX closed @ 28.80...which is telling me that as VIX goes in downtrend...Indices are going in uptrend.....sign of good things to come.....
Many stocks are getting stronger...so it is good to be "an expert in few stocks instead of master of none" I can only follow closely about 50 stocks in terms of FA/TA/TAPE on a daily basis..... .....as markets goes through ascending mode....
This is a great trading market based on "relative valuation"......
Solar,Ag,Chinese gaming/software & techs were strong......nice broad based uptrend.....
BLOG does NOT give buy or sell.
Saleem
UP volume led down volume.......
AH..BAC issuing 825 million more shares @ $10.....
AH HPQ gave a lower Sales guidance than consensus....
Both stocks Down AH.....
Futures are small RED..which is a very good sign considering AH news.....
Nikkei is UP.....
VIX closed @ 28.80...which is telling me that as VIX goes in downtrend...Indices are going in uptrend.....sign of good things to come.....
Many stocks are getting stronger...so it is good to be "an expert in few stocks instead of master of none" I can only follow closely about 50 stocks in terms of FA/TA/TAPE on a daily basis..... .....as markets goes through ascending mode....
This is a great trading market based on "relative valuation"......
Solar,Ag,Chinese gaming/software & techs were strong......nice broad based uptrend.....
BLOG does NOT give buy or sell.
Saleem
Markets are GREEN......
Indices are fighting bad housing data and trying to maintain green.....
Worldwide index are GREEN for 2nd day.....which is saying something has changed for better !!!!
Gold is UP $4.60
Crude UP 18 cents @ $59.77
Canadian $ UP 45 tick against US$...near recent highs.....
VIX @ 29.20...lowest point since hitting 80+++..how low can it go...16 maybe???
In my portfolio :
Doubled my position in TLM....
Portfolio is EGLE,MPEL,PMCS,PALM,TLM.....
I am 90% invested......
MPEL reports before open Wed....
PALM announced PRE sales starting June 6th @ $199.....sell in the news is the story right now???
@12.17 following are RED :
PALM,NDAQ,RIMM,IBN,CMED,GOOG,BIDU,
MA,V,PHM,CTX,RCI,WYNN,LVS,VAR.....
Shipping stocks got upgraded today....they are all UP 9%.....
Most stocks are UP !!!!
BLOG does NOT give buy or sell.
Saleem
Worldwide index are GREEN for 2nd day.....which is saying something has changed for better !!!!
Gold is UP $4.60
Crude UP 18 cents @ $59.77
Canadian $ UP 45 tick against US$...near recent highs.....
VIX @ 29.20...lowest point since hitting 80+++..how low can it go...16 maybe???
In my portfolio :
Doubled my position in TLM....
Portfolio is EGLE,MPEL,PMCS,PALM,TLM.....
I am 90% invested......
MPEL reports before open Wed....
PALM announced PRE sales starting June 6th @ $199.....sell in the news is the story right now???
@12.17 following are RED :
PALM,NDAQ,RIMM,IBN,CMED,GOOG,BIDU,
MA,V,PHM,CTX,RCI,WYNN,LVS,VAR.....
Shipping stocks got upgraded today....they are all UP 9%.....
Most stocks are UP !!!!
BLOG does NOT give buy or sell.
Saleem
Monday, May 18, 2009
3% Rally ...Nasdaq above 200 DMA....NICE !!!!
Markets are back in groove after India gave a "wake UP call to shorts"......rest as the say was the TAPE !!!!
VIX closed @ 30.24..Down 8.7% today.....
Internals were strong with advancing stocks in big lead.....UP volume was leading big time....new highs were again in the lead.....
So...what was wrong with today's rally????
It is low volume ...which is very unsettling......
There MAY be an explanation for low volume as Canadian markets were closed for a National holiday...is that the reason????
We will know the answer for low volume on Tuesday when Canadian Markets are back in action.....
Crude is further UP AH it is now trading @ $59.76.....
Futures are small RED......It could be another story in the morning !!!!
Oil related stocks are looking very good with crude touching $60.......
Many happy face in bull camp.....Shorts must be very squeamish tonight ????
BLOG does NOT give buy or sell.
Saleem
VIX closed @ 30.24..Down 8.7% today.....
Internals were strong with advancing stocks in big lead.....UP volume was leading big time....new highs were again in the lead.....
So...what was wrong with today's rally????
It is low volume ...which is very unsettling......
There MAY be an explanation for low volume as Canadian markets were closed for a National holiday...is that the reason????
We will know the answer for low volume on Tuesday when Canadian Markets are back in action.....
Crude is further UP AH it is now trading @ $59.76.....
Futures are small RED......It could be another story in the morning !!!!
Oil related stocks are looking very good with crude touching $60.......
Many happy face in bull camp.....Shorts must be very squeamish tonight ????
BLOG does NOT give buy or sell.
Saleem
Bombay Sensex UP 17% in a day..giving kick-start to a new BULL run !!!!
Pundits were NOT ready for a jump start...BUT India's premier exchange Bombay Sensex shot UP into stratosphere by jumping UP 17% in a day......to celebrate election of Congress party....
Most Indian stocks are UP 20%+++ including ETF......
Most world markets were down 2%++ until Sensex opened then everything turned UP from down which were open for trading...Nikkei missed the run because they were already closed.
Gold Down $10.50
Oil Up $1.70
Canadian $ UP 1 cent against US$....after being down for couple of trading days....
In my portfolio :
Added 15% more PMCS on a downgrade......
Portfolio is EGLE,MPEL,PMCS,PALM,TLM.......
PALM is @ new 52 wk high ... while leaders AAPL & RIMM are far far from their 52 wk highs..."thanks to many negative commentary on PALM product/valuation ... by those who cannot see the forest from the trees"...as once a wise man said......TAPE action speaks LOUDER than negative words...PALM UP only 948% from its 52 wk low????
TLM had a new Oil discovery in North Sea.......
Most stocks are UP......
BLOG does NOT give buy or sell.
Saleem
Most Indian stocks are UP 20%+++ including ETF......
Most world markets were down 2%++ until Sensex opened then everything turned UP from down which were open for trading...Nikkei missed the run because they were already closed.
Gold Down $10.50
Oil Up $1.70
Canadian $ UP 1 cent against US$....after being down for couple of trading days....
In my portfolio :
Added 15% more PMCS on a downgrade......
Portfolio is EGLE,MPEL,PMCS,PALM,TLM.......
PALM is @ new 52 wk high ... while leaders AAPL & RIMM are far far from their 52 wk highs..."thanks to many negative commentary on PALM product/valuation ... by those who cannot see the forest from the trees"...as once a wise man said......TAPE action speaks LOUDER than negative words...PALM UP only 948% from its 52 wk low????
TLM had a new Oil discovery in North Sea.......
Most stocks are UP......
BLOG does NOT give buy or sell.
Saleem
Sunday, May 17, 2009
IS the pullback OVER ??????
Markets have completed first week of pullback in ten weeks.......
Some traders ARE surprised @ this pullback.....which was expected by majority of traders......
When markets moved UP 40% from lows in a 9 consecutive week......it was inevitable that we pull back in a hurry......
As this market IS an ascending market..these corrections will be sharp & swift.......
I personally feel that we are very close to moving back UP.......
RSI analysis is telling me that 50 to 70 RSI will be the range in all indices...currently we are in 50+ area......
I am focused in 4 month RSI as my guide.....here is the latest reading from 4 month trend line :
S&P 500 52.72
Nasdaq 51.29
Dow 53.49
Based on the above Nasdaq IS the-most oversold and is likely to turn UP first.......
This correction in market is necessary & healthy.......
Most technicians/traders are expecting S&P500 to go to 1000 to 1050 by the end of this rally...which they think will end sometimes by fall...then a pullback of bigger magnitude......
So if we take the expected view of 1050 in S&P 500 then we have another 167 points or 18.9% further to go.....not bad considering we have already moved UP 217 points or 32.58% as of Friday's close of 883.......
For traders this is a stock pickers dream as we are rotating back & forth between different sectors......
IF you do NOT trade your position then there IS a CHANCE that you will be losing all your gains with market correction.......
Sometimes market corrects & other times stocks corrects based on their fundamentals or analyst agenda.....so be on guard......
Once you take profit...nobody can take it away.....an old reliable formulae which works 100% of the time......
Easy money has been made.......I hope you all have analyzed your total $ or % returns to cross check against market gains...if you have exceeded market gains then you are doing well...BUT do NOT be complacent as the returns CAN evaporate if you are not watching your position closely.
Those who have lagged the market returns.....then it is advisable to "rethink" your strategy and make changes.....
BUT ..if you have actually lost money by Friday's close........then it is time to do a major overhaul of your strategy & SUITABILITY of your trading style.....?????
Going forward...my strategy will remain "to book profit when it is there"...as I expect markets to be "more volatile" than recently observed.....like more UP & DOWN days than what we have experienced....OR loss trimmed or GAINS not lasting......
FEAR will be more pronounced based on conflicting Data.....
So...it is time to be nimble & quick IF you are a trader......
I have preached & implemented DIVERSIFICATION in many sectors & NOT being
over-exposed financially..especially NOW.......
Here is my portfolio weighting & sectors as of Friday's close :
EGLE 17.2% Bulk Dry Shipping
MPEL 14.13% Casino operator in Macau
PMCS 24.93% Communication chip/Tech
PALM 29.51% Smartphone/Tech
TLM 14.23% Oil producer
It is important to know the fundamentals & technical picture of your entire portfolio...do NOT buy just because someone or me are fond of some name...it IS important to do your OWN homework & KNOW what you are buying & WHY you are buying NOW.......
There is nothing WRONG in REDUCING exposure in market or INCREASING exposure in market if we KNOW where we are in the trading cycle.....this approach keeps me "ahead of the pitfalls which is always there in the TAPE"
We are all expected to learn from each experience in the market & adjust accordingly.....
BLOG does NOT give buy or sell.
Saleem
Some traders ARE surprised @ this pullback.....which was expected by majority of traders......
When markets moved UP 40% from lows in a 9 consecutive week......it was inevitable that we pull back in a hurry......
As this market IS an ascending market..these corrections will be sharp & swift.......
I personally feel that we are very close to moving back UP.......
RSI analysis is telling me that 50 to 70 RSI will be the range in all indices...currently we are in 50+ area......
I am focused in 4 month RSI as my guide.....here is the latest reading from 4 month trend line :
S&P 500 52.72
Nasdaq 51.29
Dow 53.49
Based on the above Nasdaq IS the-most oversold and is likely to turn UP first.......
This correction in market is necessary & healthy.......
Most technicians/traders are expecting S&P500 to go to 1000 to 1050 by the end of this rally...which they think will end sometimes by fall...then a pullback of bigger magnitude......
So if we take the expected view of 1050 in S&P 500 then we have another 167 points or 18.9% further to go.....not bad considering we have already moved UP 217 points or 32.58% as of Friday's close of 883.......
For traders this is a stock pickers dream as we are rotating back & forth between different sectors......
IF you do NOT trade your position then there IS a CHANCE that you will be losing all your gains with market correction.......
Sometimes market corrects & other times stocks corrects based on their fundamentals or analyst agenda.....so be on guard......
Once you take profit...nobody can take it away.....an old reliable formulae which works 100% of the time......
Easy money has been made.......I hope you all have analyzed your total $ or % returns to cross check against market gains...if you have exceeded market gains then you are doing well...BUT do NOT be complacent as the returns CAN evaporate if you are not watching your position closely.
Those who have lagged the market returns.....then it is advisable to "rethink" your strategy and make changes.....
BUT ..if you have actually lost money by Friday's close........then it is time to do a major overhaul of your strategy & SUITABILITY of your trading style.....?????
Going forward...my strategy will remain "to book profit when it is there"...as I expect markets to be "more volatile" than recently observed.....like more UP & DOWN days than what we have experienced....OR loss trimmed or GAINS not lasting......
FEAR will be more pronounced based on conflicting Data.....
So...it is time to be nimble & quick IF you are a trader......
I have preached & implemented DIVERSIFICATION in many sectors & NOT being
over-exposed financially..especially NOW.......
Here is my portfolio weighting & sectors as of Friday's close :
EGLE 17.2% Bulk Dry Shipping
MPEL 14.13% Casino operator in Macau
PMCS 24.93% Communication chip/Tech
PALM 29.51% Smartphone/Tech
TLM 14.23% Oil producer
It is important to know the fundamentals & technical picture of your entire portfolio...do NOT buy just because someone or me are fond of some name...it IS important to do your OWN homework & KNOW what you are buying & WHY you are buying NOW.......
There is nothing WRONG in REDUCING exposure in market or INCREASING exposure in market if we KNOW where we are in the trading cycle.....this approach keeps me "ahead of the pitfalls which is always there in the TAPE"
We are all expected to learn from each experience in the market & adjust accordingly.....
BLOG does NOT give buy or sell.
Saleem
Saturday, May 16, 2009
BUY rated stocks for " another UPLEG" !!!
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
PALM,SLW,MOS,COMV,PEP,WYE,NTT,DCM,KO,QXM,
PHI,DV,HWCC,CHDN,COCO,SFLY,VTAL,ZRAN,SMSI,
AGU,ANN,EXM,IPI,JEQ,RHT,WX,NMR,WIT,IBN.
Next post by 10AM Sunday.
BLOG does NOT give buy or sell.
Saleem
PALM,SLW,MOS,COMV,PEP,WYE,NTT,DCM,KO,QXM,
PHI,DV,HWCC,CHDN,COCO,SFLY,VTAL,ZRAN,SMSI,
AGU,ANN,EXM,IPI,JEQ,RHT,WX,NMR,WIT,IBN.
Next post by 10AM Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, May 15, 2009
Option expiry on lower volume.....
Markets were down .5% to 1.14% on average volume......
Volume was considerably lower because it was option expiry when volume normally zooms UP...
Market internals were much weaker than indices.....Decliners & Down volume were in lead....
Markets are taking a well deserved breather in the 10th week......
Among the winners were RIMM,GOOG,GNK,DRYS,EGLE,PALM,DSX,V,GS,IBN,AGU......
By 10AM Saturday..I will post a list of buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Volume was considerably lower because it was option expiry when volume normally zooms UP...
Market internals were much weaker than indices.....Decliners & Down volume were in lead....
Markets are taking a well deserved breather in the 10th week......
Among the winners were RIMM,GOOG,GNK,DRYS,EGLE,PALM,DSX,V,GS,IBN,AGU......
By 10AM Saturday..I will post a list of buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Indices Down less than 1%......
Option expiry & Friday is forcing a cautious mood in Wall Street....
Markets are in RED with less than 1% loss......
Volume is certainly dropping these days......
Buying interest is neutral for today ..so far......
GOLD is UP $2....
OIL is Down 87 cents
Canadian S is Down 13 tick against US$.....
In my portfolio :
Added 50% more PMCS....
Portfolio is EGLE,MPEL,PMCS,PALM,TLM...
I am 70% invested in my trading account....
@ 12.08 following are green :
DRYS,DSX,GNK,EGLE,RIMM,IPI,PALM,
V,NDAQ,BIDU,LVS,NYX,GS,SNE,GG,VAR,
IBN,GOOG,AAPL,AGU.
BLOG does NOT give buy or sell.
Saleem
Markets are in RED with less than 1% loss......
Volume is certainly dropping these days......
Buying interest is neutral for today ..so far......
GOLD is UP $2....
OIL is Down 87 cents
Canadian S is Down 13 tick against US$.....
In my portfolio :
Added 50% more PMCS....
Portfolio is EGLE,MPEL,PMCS,PALM,TLM...
I am 70% invested in my trading account....
@ 12.08 following are green :
DRYS,DSX,GNK,EGLE,RIMM,IPI,PALM,
V,NDAQ,BIDU,LVS,NYX,GS,SNE,GG,VAR,
IBN,GOOG,AAPL,AGU.
BLOG does NOT give buy or sell.
Saleem
Thursday, May 14, 2009
Nice snapback in indices.....
Market had a nice uptick in all indices which was broad based which is considered very healthy....when all sectors participate including financials......
SO...it was NOT a feeble comeback as many were pretending on our favourite network.....
Internals were very strong......Advancing stocks and UP volume had a convincing lead....much stronger than the closing indices...
IF we go through 900 in S&P 500......there will be another round of short covering by those who are still "chewing their words"......
It IS important to KNOW that we are extended in this rally & MAY form a double top around 930 area in S&P...so....IF you are a trader be AWARE of this.......
I MAY also lighten up further around 930 area & reduce my trading exposure to 25% only.....as market MAY need time to digest all the gains since March lows......which will be healthy for the markets.......
BUT.... there is always other sectors which MAY shine while indices go flat.....I am thinking of Oil,Gold ,Mining as the next sector to go to while we mark time in market......
Futures are mixed with S&P UP 9.08......Dow Down 3.32 & Nasdaq Down 3.72.....
BLOG does NOT give buy or sell.
Saleem
SO...it was NOT a feeble comeback as many were pretending on our favourite network.....
Internals were very strong......Advancing stocks and UP volume had a convincing lead....much stronger than the closing indices...
IF we go through 900 in S&P 500......there will be another round of short covering by those who are still "chewing their words"......
It IS important to KNOW that we are extended in this rally & MAY form a double top around 930 area in S&P...so....IF you are a trader be AWARE of this.......
I MAY also lighten up further around 930 area & reduce my trading exposure to 25% only.....as market MAY need time to digest all the gains since March lows......which will be healthy for the markets.......
BUT.... there is always other sectors which MAY shine while indices go flat.....I am thinking of Oil,Gold ,Mining as the next sector to go to while we mark time in market......
Futures are mixed with S&P UP 9.08......Dow Down 3.32 & Nasdaq Down 3.72.....
BLOG does NOT give buy or sell.
Saleem
Sky is NOT falling,Economy is NOT falling & guess what Markets are NOT falling...YES !!!!
Something STRANGE happened on the "road to doomsville"......there is NO such place.....
BUT according to CNBC "doomsville"not only exist but we were living in it?????
So what happened about the 100% short thesis & 0% long @ yesterdays close......it shows HOW to LOSE your hard earned $$$ .."sell everything @ low of the day & then go short @ low of the day...so you lose TWICE with CNBC thesis????
That is why we have pundits,experts,fast traders...who mumbles words which makes "no sense"
Gold Down $2.90
Oil Down 90 cents
Canadian $ UP 13 tick against US$......
Despite poor jobless claim data which came in worse than consensus & PPI "hotter" than expected...guess what markets are doing they are @ HIGH of the day.....
As I have been "repeating" this IS a trending UP market with sharp & quick corrections along the way......this thesis is NOT changing ......
Always understand market fundamentals FIRST...then stocks.....with a focus on RSI....it works all the time.......
Portfolio is EGLE,MPEL,PMCS,PALM,TLM.....
Most stocks are UP.......
BLOG does NOT give buy or sell.
Saleem
BUT according to CNBC "doomsville"not only exist but we were living in it?????
So what happened about the 100% short thesis & 0% long @ yesterdays close......it shows HOW to LOSE your hard earned $$$ .."sell everything @ low of the day & then go short @ low of the day...so you lose TWICE with CNBC thesis????
That is why we have pundits,experts,fast traders...who mumbles words which makes "no sense"
Gold Down $2.90
Oil Down 90 cents
Canadian $ UP 13 tick against US$......
Despite poor jobless claim data which came in worse than consensus & PPI "hotter" than expected...guess what markets are doing they are @ HIGH of the day.....
As I have been "repeating" this IS a trending UP market with sharp & quick corrections along the way......this thesis is NOT changing ......
Always understand market fundamentals FIRST...then stocks.....with a focus on RSI....it works all the time.......
Portfolio is EGLE,MPEL,PMCS,PALM,TLM.....
Most stocks are UP.......
BLOG does NOT give buy or sell.
Saleem
Wednesday, May 13, 2009
Market Down 2% to 3% on average volume....
Market retraced for three days in a row.....
The reaction from so called experts are that "it is the end of the rally" and we are going "way down"...
Some are claiming to have sold all their long position and they are short short & more short all the way......starting today???
WOW.....
That is the-most undesirable approach in investing world......NO long position???
One should "never be out of the market completely" as championed by Peter Lynch..who was the-most successful investor in the 80's & early 90's.....BUT he was a fundamental investor who KNEW WHY he bought his position in many stocks.....
SO...
We have "fear monger screaming again & think they are making sense"...i beg to disagree completely with their strategy & their hysteria that this rally is over?????
I personally believe it IS one of the-best environment for stock-picking as the price gets CHEAPER....I can assure you that price has retraced completely in some & mostly in others....thus a perfect time to feel CONFIDENT in keeping your position if you have any or to add if you CAN......
In my portfolio :
Sold OTEX.....
Bought TLM.....
Portfolio is EGLE,MPEL,PMCS,PALM,TLM......
VIX closed @ 33.65....still close to the recent LOW level......
AH Futures are as follows :
Dow UP 39.11
S&P 500 UP 3.68
Nasdaq UP 4.57
I guess futures must not know that it is suppose to be deep RED as per CNBC pundits????
Thanks to Madmax,Michael & Victor for their messages on my big day !!!!
BLOG does NOT give buy or sell.
Saleem
The reaction from so called experts are that "it is the end of the rally" and we are going "way down"...
Some are claiming to have sold all their long position and they are short short & more short all the way......starting today???
WOW.....
That is the-most undesirable approach in investing world......NO long position???
One should "never be out of the market completely" as championed by Peter Lynch..who was the-most successful investor in the 80's & early 90's.....BUT he was a fundamental investor who KNEW WHY he bought his position in many stocks.....
SO...
We have "fear monger screaming again & think they are making sense"...i beg to disagree completely with their strategy & their hysteria that this rally is over?????
I personally believe it IS one of the-best environment for stock-picking as the price gets CHEAPER....I can assure you that price has retraced completely in some & mostly in others....thus a perfect time to feel CONFIDENT in keeping your position if you have any or to add if you CAN......
In my portfolio :
Sold OTEX.....
Bought TLM.....
Portfolio is EGLE,MPEL,PMCS,PALM,TLM......
VIX closed @ 33.65....still close to the recent LOW level......
AH Futures are as follows :
Dow UP 39.11
S&P 500 UP 3.68
Nasdaq UP 4.57
I guess futures must not know that it is suppose to be deep RED as per CNBC pundits????
Thanks to Madmax,Michael & Victor for their messages on my big day !!!!
BLOG does NOT give buy or sell.
Saleem
S&P 500 888 was the support ????
Markets are doing what they normally do...retrace after HUGE runup.....
We MAY have run our course in this pullback.....close will confirm that ???
GOLD UP $6.20
OIL Down 13 cents
Canadian $ Down 58 tick against US$.....although car sales in Canada was higher by 5%....
In my portfolio :
Sold CTX
Added 150% more MPEL......
I am 60% invested in my trading funds....
Portfolio is EGLE,MPEL,OTEX,PMCS,PALM......
@ 12.11 following are green :
IPI,POT,MON,KGC,NYX,AUY,ABX,GG,AEM,
QID,DUG,SDS,DXD.
PS...Celebrating my 64th birthday today & feeling very good about everything in life !!!!
BLOG does NOT give buy or sell.
Saleem
We MAY have run our course in this pullback.....close will confirm that ???
GOLD UP $6.20
OIL Down 13 cents
Canadian $ Down 58 tick against US$.....although car sales in Canada was higher by 5%....
In my portfolio :
Sold CTX
Added 150% more MPEL......
I am 60% invested in my trading funds....
Portfolio is EGLE,MPEL,OTEX,PMCS,PALM......
@ 12.11 following are green :
IPI,POT,MON,KGC,NYX,AUY,ABX,GG,AEM,
QID,DUG,SDS,DXD.
PS...Celebrating my 64th birthday today & feeling very good about everything in life !!!!
BLOG does NOT give buy or sell.
Saleem
Tuesday, May 12, 2009
Mixed close on wall street.....
Nasdaq was the laggard today while Dow was in green......
S&P was mini red.....
VIX closed @ 31.80......which means that fear is out of the market.....
INTC CEO had positive comment about its business which should help Techs for Wed......
AH Futures are as follows :
Dow <10.11>
S&P 500 +.10
Nasdaq +7.75
Hang Seng,Nikkei both small green...
AH Gold,Oil,Silver,Nat gas all Higher......
Markets will be difficult for those who are NOT watching FA & Charts closely......easy money has been made....some leaders are having strange tape action......????
PS....post was delayed due to personal needs..had to step out.
BLOG does NOT give buy or sell.
Saleem
S&P was mini red.....
VIX closed @ 31.80......which means that fear is out of the market.....
INTC CEO had positive comment about its business which should help Techs for Wed......
AH Futures are as follows :
Dow <10.11>
S&P 500 +.10
Nasdaq +7.75
Hang Seng,Nikkei both small green...
AH Gold,Oil,Silver,Nat gas all Higher......
Markets will be difficult for those who are NOT watching FA & Charts closely......easy money has been made....some leaders are having strange tape action......????
PS....post was delayed due to personal needs..had to step out.
BLOG does NOT give buy or sell.
Saleem
Nasdaq Down 1.83%....weak today.....
Markets are in RED ......
No real buying catalyst today.....
There is an overhang of post stress test fatigue......
Gold UP $6
Oil Down 35 cents
Canadian $ Down 8 tick against US$......
Portfolio is CTX,EGLE,MPEL,OTEX,PMCS,PALM......
@ 12.42 following are green :
TSL,KGC,POT,MON,TKC,ICE,JRCC,ABX,GG,IBN,
SDS,DXD,QID.
BLOG does NOT give buy or sell.
Saleem
No real buying catalyst today.....
There is an overhang of post stress test fatigue......
Gold UP $6
Oil Down 35 cents
Canadian $ Down 8 tick against US$......
Portfolio is CTX,EGLE,MPEL,OTEX,PMCS,PALM......
@ 12.42 following are green :
TSL,KGC,POT,MON,TKC,ICE,JRCC,ABX,GG,IBN,
SDS,DXD,QID.
BLOG does NOT give buy or sell.
Saleem
Monday, May 11, 2009
Indices loss ranged from .45% to 2.15% on low volume ???
Markets were in red after 9 weeks of positive action......
Selling was contained as they were done on low volume...this is a great indicator for positive things to come.....
VIX closed @ 32.87...another indicator giving positive UP signal.....
Futures are mini Red..so far...AM could be a different story !!!!
In my portfolio :
Bought MPEL....
Portfolio is CTX,EGLE,MPEL,OTEX,PMCS,PALM.....
Technology were trying to start week TEN on positive grounds...BUT it went into small red @ close.....again showing relative strength....
Markets do NOT have the feel of overbought TAPE...thanks to many traders who are extremely negative for short term.....& have sold out ???
FEAR & CAUTION is very good for more UP move in the markets....immediately ahead $$$$
Negative sentiment plays a major role in contrary action.....I get worried & SELL when I see too much enthusiasm...which IS currently missing as EVERYBODY is waiting for a pullback......????
BLOG does NOT give buy or sell.
Saleem
Selling was contained as they were done on low volume...this is a great indicator for positive things to come.....
VIX closed @ 32.87...another indicator giving positive UP signal.....
Futures are mini Red..so far...AM could be a different story !!!!
In my portfolio :
Bought MPEL....
Portfolio is CTX,EGLE,MPEL,OTEX,PMCS,PALM.....
Technology were trying to start week TEN on positive grounds...BUT it went into small red @ close.....again showing relative strength....
Markets do NOT have the feel of overbought TAPE...thanks to many traders who are extremely negative for short term.....& have sold out ???
FEAR & CAUTION is very good for more UP move in the markets....immediately ahead $$$$
Negative sentiment plays a major role in contrary action.....I get worried & SELL when I see too much enthusiasm...which IS currently missing as EVERYBODY is waiting for a pullback......????
BLOG does NOT give buy or sell.
Saleem
Minor pullback ......
Markets are trying to digest big gains in indices....small pullback so far with Nasdaq barely red...
There IS tremendous buying whenever indices pulls back....so the downside is extremely limited..
Gold Down $1.40
OIL Down $1.04
Canadian $ Down 74 tick against US$.....
VIX 32.71
Portfolio is CTX,EGLE,OTEX,PMCS,PALM....
@ 12.31 following are among green :
PALM,OTEX,MRVL,NVDA,CF,WYNN,LVS,
SOHU,FSLR,GOOG,AAPL,AMZN....
BLOG does NOT give buy or sell.
Saleem
There IS tremendous buying whenever indices pulls back....so the downside is extremely limited..
Gold Down $1.40
OIL Down $1.04
Canadian $ Down 74 tick against US$.....
VIX 32.71
Portfolio is CTX,EGLE,OTEX,PMCS,PALM....
@ 12.31 following are among green :
PALM,OTEX,MRVL,NVDA,CF,WYNN,LVS,
SOHU,FSLR,GOOG,AAPL,AMZN....
BLOG does NOT give buy or sell.
Saleem
Sunday, May 10, 2009
Markets going Down or Flat or UP ????
There is a heated debate in media where the markets are headed NOW.....
Loud media are predicting 50% retracement.....
Loud media is also predicting CRASH in financials.....
Louder media is saying "dont worry be happy".....
Before we analyze the above ...it is important to get a snapshot again as to where we have been and how it stands as of Friday the 8th...here are real stat since march Lows :
Dow 8574.65 UP 2104.70 or 32.53% in 44 days or 47.83 points every trading day.....
Nasdaq 1739 UP 473.48 or 37.41% in 44 days or 10.76 points every trading day......
S&P 500 929.23 UP 262.44 or 39.36% in 44 days or 5.96 points every trading day......
The above returns compares with .25% in money market funds where over $3+++ trillions are parked......
Now...tell me... how do you feel after looking @ stock market returns ...IF you are parked SAFELY in Money Market....because you were convinced by Fast Money/Mad Money who told you to take every cent out IF you need any money for next FIVE years???
I bet you feel like throwing UP.......
That is the REALITY of seeking financial wisdom from so-called commentators who keep CHANGING their tune every 5 minutes with no accountability......
So.... always try to come up with your OWN conclusions about matter of finance.....based on your OWN comfort level......
Comfort level varies from person to person based on your risk tolerance & age.....
So...if you feel that you need exposure to world of equity..few facts needs to be understood for all times :
Stocks do not go UP in straight line......there will be severe jolts along the way...which IS normal...
Stock prices always reflect economic reality for that industry or that particular stock....Do NOT bank on all boats being lifted...some boats do sink to lower values...a reality which cannot be escaped....
It is important to focus on stocks fundamentals first... then on technical health......
Knowing which sectors will be the first group to recover from current economic picture is CRITICAL to your making money......
Chasing speculative stocks without understanding them will hurt you in the long run.....remember trading/investing should be based on where you will finish a year from now NOT for next 5 days......
So... pick your strategy wisely & be comfortable with your focus.....
Now.....
About markets & where we MAY be in next 12 months.....???
I am of personal belief that next 12 months ...markets will be substantially higher??
WHY.....
Because in next 12 months world economic picture will be substantially better than current economic data.....Stock market acts as the leading indicator !!!!
So what is my GUESS..where each indices will be in next 12 months???
DOW 13,000
Nasdaq 2,500
S&P 500 1400
If you compare my GUESS to current closing numbers we are looking @ POTENTIAL GAIN of :
Dow + 4,425 points or another GAIN of 51.6%.......
Similar gains are expected of the other major indices.....
Now.... the more important point is.....are you going to capture those 52% gains or LAG the market or better yet...are you going to BEAT the market averages????
It all depends on your "homework"
Few suggestions which MAY keep you in the safe arena :
Do NOT chase speculative stocks......
Get rid of losing stocks quickly......
Stay diversified in many sectors.....
Stay with winners.....
Pay attention to RSI in your buying or selling decision....
Biggest % gains will be in leading stocks which have been beaten down due to economic environment.....
Some ETF MAY give you the returns without the headache of individual stock buying...some country ETF are a great way to keep your sanity while growing your money..like China,Brazil,India,even good old USA centric ETF.....
Please DO NOT indulge in 2X or 3X ETF...they are DISASTER for your financial health...they all should be "banned by SEC"...BUT as usual SEC is sleeping @ switch....
So...
Here we are as to all the pitfalls & HOW market really works.....
YES...there will be sharp & swift corrections along the way...BUT the TREND is UP if you look @ 12 months from now.....
Doing homework IS critical and ENSURE your OWN comfort level... as PUNDITS on CNBC change their mind or mislead you with a rosy picture all the time.....it is never an UP UP & AWAY market...it needs rest quite OFTEN......
Good luck with your OWN stock selection but remember..... stay DIVERSIFIED !!!!
BLOG does NOT give buy or sell.
Saleem
Loud media are predicting 50% retracement.....
Loud media is also predicting CRASH in financials.....
Louder media is saying "dont worry be happy".....
Before we analyze the above ...it is important to get a snapshot again as to where we have been and how it stands as of Friday the 8th...here are real stat since march Lows :
Dow 8574.65 UP 2104.70 or 32.53% in 44 days or 47.83 points every trading day.....
Nasdaq 1739 UP 473.48 or 37.41% in 44 days or 10.76 points every trading day......
S&P 500 929.23 UP 262.44 or 39.36% in 44 days or 5.96 points every trading day......
The above returns compares with .25% in money market funds where over $3+++ trillions are parked......
Now...tell me... how do you feel after looking @ stock market returns ...IF you are parked SAFELY in Money Market....because you were convinced by Fast Money/Mad Money who told you to take every cent out IF you need any money for next FIVE years???
I bet you feel like throwing UP.......
That is the REALITY of seeking financial wisdom from so-called commentators who keep CHANGING their tune every 5 minutes with no accountability......
So.... always try to come up with your OWN conclusions about matter of finance.....based on your OWN comfort level......
Comfort level varies from person to person based on your risk tolerance & age.....
So...if you feel that you need exposure to world of equity..few facts needs to be understood for all times :
Stocks do not go UP in straight line......there will be severe jolts along the way...which IS normal...
Stock prices always reflect economic reality for that industry or that particular stock....Do NOT bank on all boats being lifted...some boats do sink to lower values...a reality which cannot be escaped....
It is important to focus on stocks fundamentals first... then on technical health......
Knowing which sectors will be the first group to recover from current economic picture is CRITICAL to your making money......
Chasing speculative stocks without understanding them will hurt you in the long run.....remember trading/investing should be based on where you will finish a year from now NOT for next 5 days......
So... pick your strategy wisely & be comfortable with your focus.....
Now.....
About markets & where we MAY be in next 12 months.....???
I am of personal belief that next 12 months ...markets will be substantially higher??
WHY.....
Because in next 12 months world economic picture will be substantially better than current economic data.....Stock market acts as the leading indicator !!!!
So what is my GUESS..where each indices will be in next 12 months???
DOW 13,000
Nasdaq 2,500
S&P 500 1400
If you compare my GUESS to current closing numbers we are looking @ POTENTIAL GAIN of :
Dow + 4,425 points or another GAIN of 51.6%.......
Similar gains are expected of the other major indices.....
Now.... the more important point is.....are you going to capture those 52% gains or LAG the market or better yet...are you going to BEAT the market averages????
It all depends on your "homework"
Few suggestions which MAY keep you in the safe arena :
Do NOT chase speculative stocks......
Get rid of losing stocks quickly......
Stay diversified in many sectors.....
Stay with winners.....
Pay attention to RSI in your buying or selling decision....
Biggest % gains will be in leading stocks which have been beaten down due to economic environment.....
Some ETF MAY give you the returns without the headache of individual stock buying...some country ETF are a great way to keep your sanity while growing your money..like China,Brazil,India,even good old USA centric ETF.....
Please DO NOT indulge in 2X or 3X ETF...they are DISASTER for your financial health...they all should be "banned by SEC"...BUT as usual SEC is sleeping @ switch....
So...
Here we are as to all the pitfalls & HOW market really works.....
YES...there will be sharp & swift corrections along the way...BUT the TREND is UP if you look @ 12 months from now.....
Doing homework IS critical and ENSURE your OWN comfort level... as PUNDITS on CNBC change their mind or mislead you with a rosy picture all the time.....it is never an UP UP & AWAY market...it needs rest quite OFTEN......
Good luck with your OWN stock selection but remember..... stay DIVERSIFIED !!!!
BLOG does NOT give buy or sell.
Saleem
Saturday, May 9, 2009
BUY rated stocks for sector rotation in markets.....
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
AMTD,CADX,CAAS,CRA,HANS,ROSE,VIVI,
MR,TTM,IMO,BEBE,KOPN,WGO,BVF,JEF,
IAG,MIR,GORO,CCIX,CYNO,LDSH,PTR.
Next post by 10 AM Sunday.
BLOG does NOT give buy or sell.
Saleem
AMTD,CADX,CAAS,CRA,HANS,ROSE,VIVI,
MR,TTM,IMO,BEBE,KOPN,WGO,BVF,JEF,
IAG,MIR,GORO,CCIX,CYNO,LDSH,PTR.
Next post by 10 AM Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, May 8, 2009
Nasdaq UP 9 weeks in a row......
Markets have certainly move UP beyond anybodies prediction in short 9 straight weeks....
Many fast movers are taking rest while market keeps moving UP with changing stock focus.....
Leadership is becoming undefined @ this stage.....
Semiconductors got a brutal drubbing...excuse was NVDA...which was subjected to....I will find something bad in your report...even though NVDA exceeded Sales/EPS/exceeded consensus in guidance...funny how wall street can MANUFACTURE problems in a good ER....NVDA volume was 73+ million shares vs average of 23 million..Down 13.79%....
OIL closed @ $58.63
Gold closed @ $914.40
Canadian $ had a "mother of a rally" UP 1.69 cent against US$..highest close in many months...
VIX closed @ 32.05
By 10AM Saturday..I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Many fast movers are taking rest while market keeps moving UP with changing stock focus.....
Leadership is becoming undefined @ this stage.....
Semiconductors got a brutal drubbing...excuse was NVDA...which was subjected to....I will find something bad in your report...even though NVDA exceeded Sales/EPS/exceeded consensus in guidance...funny how wall street can MANUFACTURE problems in a good ER....NVDA volume was 73+ million shares vs average of 23 million..Down 13.79%....
OIL closed @ $58.63
Gold closed @ $914.40
Canadian $ had a "mother of a rally" UP 1.69 cent against US$..highest close in many months...
VIX closed @ 32.05
By 10AM Saturday..I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Markets back on GREEN track...NICE !!!!
Markets came back to green after one day of sharp selling......on high volume.....as most froth was taken out in a hurry....
GOLD Down $6.80
OIL UP $1.02
Canadian $ sharply higher against US$ on Job growth in Canada instead of job loss..UP 1 full cents..highest level since March low.....
In my portfolio :
Sold NVDA...
Bought EGLE
Portfolio is CTX,EGLE,OTEX,PMCS,PALM...
VIX 31.59...lowest level so far since hitting 80+
@ 12.41 following are green :
OTEX,PALM,CTX,IPI,TLM,RIMM,SINA,FMCN,
V,C,ICE,CCJ,WYNN,MA,LVS,SOHU,NYX,CMED,
VLO,ABX,GG,SNE,VAR,IBN,GS,GOOG,FWLT,
FXI,EBAY,X,ACH,GRMN.
BLOG does NOT give buy or sell.
Saleem
GOLD Down $6.80
OIL UP $1.02
Canadian $ sharply higher against US$ on Job growth in Canada instead of job loss..UP 1 full cents..highest level since March low.....
In my portfolio :
Sold NVDA...
Bought EGLE
Portfolio is CTX,EGLE,OTEX,PMCS,PALM...
VIX 31.59...lowest level so far since hitting 80+
@ 12.41 following are green :
OTEX,PALM,CTX,IPI,TLM,RIMM,SINA,FMCN,
V,C,ICE,CCJ,WYNN,MA,LVS,SOHU,NYX,CMED,
VLO,ABX,GG,SNE,VAR,IBN,GS,GOOG,FWLT,
FXI,EBAY,X,ACH,GRMN.
BLOG does NOT give buy or sell.
Saleem
Thursday, May 7, 2009
1.2% to 2.44% loss in averages in heavy volume....
Markets were stretched so a bout of profit taking took hold.....
Surprisingly indices did not fall too far and loss were contained to a reasonable level.....
High volume was an indication of large profit accumulated by many......
Many reasons were given for today's fall...from poor bond sale to Bank stress report...but the real reason was that markets had a nice run and a rest was required.....
I do not see any damage to the positive sentiment @ all....it is intact as we go forward......
AH ER..IPI was a beat CC before open...where guidance will be given..stock UP 86 cents AH on 45,000 volume.....
NVDA for Q1 had a beat on EPS by 2 cents & large beat on Sales $664.2 Million vs consensus of $514.7 Million..Q2 guidance is very strong as expected Sales guidance $697 million vs consensus of $536 Million..margins improving big time to 33% vs Q1 @ 28.6%.....reward for all this improvement going forward... AH NVDA Down 15 cents from close????
AH Futures are all GREEN.....
All banks are being pro-active who need to shore up their capital..WFC,BAC,C,MS all announced after close shares sale or conversion of preferred to common stocks.....
BLOG does NOT give buy or sell.
Saleem
Surprisingly indices did not fall too far and loss were contained to a reasonable level.....
High volume was an indication of large profit accumulated by many......
Many reasons were given for today's fall...from poor bond sale to Bank stress report...but the real reason was that markets had a nice run and a rest was required.....
I do not see any damage to the positive sentiment @ all....it is intact as we go forward......
AH ER..IPI was a beat CC before open...where guidance will be given..stock UP 86 cents AH on 45,000 volume.....
NVDA for Q1 had a beat on EPS by 2 cents & large beat on Sales $664.2 Million vs consensus of $514.7 Million..Q2 guidance is very strong as expected Sales guidance $697 million vs consensus of $536 Million..margins improving big time to 33% vs Q1 @ 28.6%.....reward for all this improvement going forward... AH NVDA Down 15 cents from close????
AH Futures are all GREEN.....
All banks are being pro-active who need to shore up their capital..WFC,BAC,C,MS all announced after close shares sale or conversion of preferred to common stocks.....
BLOG does NOT give buy or sell.
Saleem
Nasdaq taking a "pit stop" of <2.02%>
Markets are doing something which some traders are never ready for....Yes markets do go down and it is very healthy......
It is "highly recommended" to have a well defined sell strategy IF you are a trader.
Nasdaq is the weakest as it was the strongest in its RUNUP.....
S&P 500 & Dow down less than 1%...thanks to financials AGAIN....
Jobless claims as expected is getting better......
Gold Down 10 cents
Oil UP $1.09
Canadian $ is down 34 tick after closing @ record HIGH yesterday against US$......
In my portfolio :
Bought OTEX
Bought PALM
Bought PMCS
Portfolio is CTX,NVDA,OTEX,PMCS,PALM.....
I have pulled out 50% of my trading funds & placed in money market...so have 50% exposure to market only...a very comfortable exposure @ this juncture.....I will increase my exposure if there is meaningful correction as we go forward....IF we keep going UP...then I will reduce my exposure to only 40%..."my way" of managing risk......
@ 12.16 following are green :
OTEX,C,BAC,CTRN,ABX,ISRG,GG,VAR,FWLT,
RCI,GRMN.....
NVDA reports AH...expecting a very good guidance !!!!
IPI,WEN also reporting AH....both will be WEAK for the reporting period..but optimistic spin for 2nd half.....
BLOG does NOT give buy or sell.
Saleem
It is "highly recommended" to have a well defined sell strategy IF you are a trader.
Nasdaq is the weakest as it was the strongest in its RUNUP.....
S&P 500 & Dow down less than 1%...thanks to financials AGAIN....
Jobless claims as expected is getting better......
Gold Down 10 cents
Oil UP $1.09
Canadian $ is down 34 tick after closing @ record HIGH yesterday against US$......
In my portfolio :
Bought OTEX
Bought PALM
Bought PMCS
Portfolio is CTX,NVDA,OTEX,PMCS,PALM.....
I have pulled out 50% of my trading funds & placed in money market...so have 50% exposure to market only...a very comfortable exposure @ this juncture.....I will increase my exposure if there is meaningful correction as we go forward....IF we keep going UP...then I will reduce my exposure to only 40%..."my way" of managing risk......
@ 12.16 following are green :
OTEX,C,BAC,CTRN,ABX,ISRG,GG,VAR,FWLT,
RCI,GRMN.....
NVDA reports AH...expecting a very good guidance !!!!
IPI,WEN also reporting AH....both will be WEAK for the reporting period..but optimistic spin for 2nd half.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, May 6, 2009
Higher Highs on higher volume !!!!
Volume came in a big way in all indices.......
All indices racing towards new highs AGAIN.....
Bank stress test results being leaked out daily......
Bank stress test results are managed skilfully by Treasury to eliminate any surprise to the markets.....
CSCO ER was a beat...stock UP 42 cents AH....
EGLE ER was a beat in Sales & in-line EPS.....CC before open.....
Please keep in mind following targets by stockcharts.com :
S&P 500 closed @ 919.....target 935
Dow closed @ 8512.28...target 8650
Nasdaq closed @ 1759.10..target 1970
As you can see that some target are very close to current levels...so manage your risk as per your OWN comfort level......Nobody including stockcharts can predict accurately market levels but it is a fact that we have come a long way UP from March lows in one stretch...nothing goes UP in a straight line as per history of wall street...so i strongly suggest being aware of this historical trend.....
We may overshoot on the UPside also......so it will be wise to take advantage of that probable scenario.....especially for traders.....
VIX closed @ 32.45...28 level MAY suggest strong resistance for the market...FWIW
Financials ignored all the noise about 10 Banks being told to shore up capital...it is amazing how quickly news are being digested these days......
IPI,NVDA,WEN reports Thursday.....
BLOG does NOT give buy or sell.
Saleem
All indices racing towards new highs AGAIN.....
Bank stress test results being leaked out daily......
Bank stress test results are managed skilfully by Treasury to eliminate any surprise to the markets.....
CSCO ER was a beat...stock UP 42 cents AH....
EGLE ER was a beat in Sales & in-line EPS.....CC before open.....
Please keep in mind following targets by stockcharts.com :
S&P 500 closed @ 919.....target 935
Dow closed @ 8512.28...target 8650
Nasdaq closed @ 1759.10..target 1970
As you can see that some target are very close to current levels...so manage your risk as per your OWN comfort level......Nobody including stockcharts can predict accurately market levels but it is a fact that we have come a long way UP from March lows in one stretch...nothing goes UP in a straight line as per history of wall street...so i strongly suggest being aware of this historical trend.....
We may overshoot on the UPside also......so it will be wise to take advantage of that probable scenario.....especially for traders.....
VIX closed @ 32.45...28 level MAY suggest strong resistance for the market...FWIW
Financials ignored all the noise about 10 Banks being told to shore up capital...it is amazing how quickly news are being digested these days......
IPI,NVDA,WEN reports Thursday.....
BLOG does NOT give buy or sell.
Saleem
Sold TLM & PMCS....
Sold PMCS & TLM to lock profit.
Portfolio is CTX & NVDA.
BLOG does NOT give buy or sell.
Saleem
Portfolio is CTX & NVDA.
BLOG does NOT give buy or sell.
Saleem
Nasdaq tested support & IS above 200 DMA again !!!!
Markets were subjected to profit taking .....so pulled back on positive ADP Job data news.......
Again on this AM pullback many buyers stepped in & markets are fighting their way into positive.....
Nasdaq IS trading above 200 DMA after dipping below on profit taking
Gold UP $4.90
Oil UP $2.03
Canadian $ is UP 25 tick against US$.....
Portfolio is CTX,NVDA,PMCS,TLM......
CTX reported AH on narrower loss and increase in cash position...but market is selling CTX & PHM on news down 9%...PHM is not ready to call a bottom in housing...CTX was more confident about their position in marketplace.....PHM & CTX are merging in Q3....
@ 12.25 following are among green:
RIMM,GNK,EGLE,MRVL,TLM,STP,TSL,KGC,POT,
CCJ,IGT,JRCC,NDAQ,MA,BIDU,NYX,VLO,ABX,SPWRA,FSLR,
ISRG,GG,GS,GOOG,DSX.
EGLE reports AH.
BLOG does NOT give buy or sell.
Saleem
Again on this AM pullback many buyers stepped in & markets are fighting their way into positive.....
Nasdaq IS trading above 200 DMA after dipping below on profit taking
Gold UP $4.90
Oil UP $2.03
Canadian $ is UP 25 tick against US$.....
Portfolio is CTX,NVDA,PMCS,TLM......
CTX reported AH on narrower loss and increase in cash position...but market is selling CTX & PHM on news down 9%...PHM is not ready to call a bottom in housing...CTX was more confident about their position in marketplace.....PHM & CTX are merging in Q3....
@ 12.25 following are among green:
RIMM,GNK,EGLE,MRVL,TLM,STP,TSL,KGC,POT,
CCJ,IGT,JRCC,NDAQ,MA,BIDU,NYX,VLO,ABX,SPWRA,FSLR,
ISRG,GG,GS,GOOG,DSX.
EGLE reports AH.
BLOG does NOT give buy or sell.
Saleem
Sold IPI,PALM,MRVL,EGLE....
I sold IPI,MRVL,PALM,EGLE to book profit...
Portfolio is NVDA,CTX,PMCS,TLM....
BLOG does NOT give buy or sell.
Saleem
Portfolio is NVDA,CTX,PMCS,TLM....
BLOG does NOT give buy or sell.
Saleem
Tuesday, May 5, 2009
Almost flat close in all indices......
Markets showed resiliency again by erasing most of the loss by close......loss ranged from .19% to .54%.....
Nasdaq still managed to close above 200 DMA......real show of strength.....
More new 52 wk highs in both NYSE & Nasdaq today......
VIX closed @ 33.36 a further drop of 3.39% on a mini red day in markets.....VIX close today is indicating great things to come in all indices !!!!!
Ben Bernanke confirmed what markets have been predicting since March lows....that things are getting better & will improve further in world economies.....
Futures are in small green in all indices.....
Strong close included MA,GS,AMZN,BIDU,CMED,GOOG,ISRG,ICE,RIMM,FMCN,IPI.....
BLOG does NOT give buy or sell.
Saleem
Nasdaq still managed to close above 200 DMA......real show of strength.....
More new 52 wk highs in both NYSE & Nasdaq today......
VIX closed @ 33.36 a further drop of 3.39% on a mini red day in markets.....VIX close today is indicating great things to come in all indices !!!!!
Ben Bernanke confirmed what markets have been predicting since March lows....that things are getting better & will improve further in world economies.....
Futures are in small green in all indices.....
Strong close included MA,GS,AMZN,BIDU,CMED,GOOG,ISRG,ICE,RIMM,FMCN,IPI.....
BLOG does NOT give buy or sell.
Saleem
1.23% pullback in Nasdaq after huge RUNUP.....
Markets are in minor RED after being UP since March lows.......
Nasdaq is down 1.23%
S&P 500 down .78%
Dow down .4%
Gold UP $1.90
Oil Down .62
Canadian $ Down 14 tick after huge RUNUP since March lows also.....
In my portfolio :
Bought TLM
Portfolio is CTX,EGLE,IPI,MRVL,NVDA,PMCS,PALM,TLM.....
@12.46 following are green in my watch list :
IPI,PALM,RIMM,FMCN,KGC,SOL,C,CTRN,ICE,
IGT,WYNN,LVS,CMED,ABX,ISRG,GS,VAR,IBN,FWLT,
STP,AMZN.
BLOG does NOT give buy or sell.
Saleem
Nasdaq is down 1.23%
S&P 500 down .78%
Dow down .4%
Gold UP $1.90
Oil Down .62
Canadian $ Down 14 tick after huge RUNUP since March lows also.....
In my portfolio :
Bought TLM
Portfolio is CTX,EGLE,IPI,MRVL,NVDA,PMCS,PALM,TLM.....
@12.46 following are green in my watch list :
IPI,PALM,RIMM,FMCN,KGC,SOL,C,CTRN,ICE,
IGT,WYNN,LVS,CMED,ABX,ISRG,GS,VAR,IBN,FWLT,
STP,AMZN.
BLOG does NOT give buy or sell.
Saleem
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