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
6 comments:
Saleem,
It seems that the entire shipping sector was downgraded: GNK, EGLE, and DRYS. Is this MM strategy? I saw you got back in EGLE and would like to follow. I kicked myself when I sold IPI and broke even after GS downgraded at $20 and now looking at it at $27!!! I should follow you and held on at that time. As always, thanks for your guidance.
Michael
Hi Michael,
Nothing wrong in making mistakes...but it is important to learn from it.
I always do my own due diligence but give careful review to what analysts are saying....sometimes they do make good point....most of the time it is all agenda driven.
We all have different temperament so we act differently.....
Yes...EGLE is behaving the-best after getting a sell rating???
Good luck on your decision.
Saleem
Hi Saleem,
The manipulation of NVDA is still going on. Someone has got an axe to grind with that company. Tanked stock.
DRYS announced further sale of shares. Tanked stock.
GNK downgraded to hold by Maxim? Who are they? Tanked stock.
Already the games begin! GRRRRRRR!
Options expire next Friday. GE has past several options levels. I think a sell off is coming after Friday as options players receive called shares and dump them quickly. Next week $15+?
Best Regards
Hi Standards,
I never fight the tape....market verdict was in for NVDA....
If you can believe that today sell rating was given on EGLE & it closed green....
Wall street always has an agenda....but us small fries has to get out of the day quickly...a lesson learned long time ago.....
TAPE "is the final answer"
Saleem
Saleem
Hello look at NVDA posting: first-quarter loss and analysts expressed concerns about the company's margins.
Nvidia (NVDA:
9.25, -1.48, -13.8%) shares fell 13.8% to close at $9.25 after the company reported Thursday a first-quarter loss of $201.3 million, or 37 cents a share, compared with a profit of $176.8 million, or 30 cents a share, for the year-earlier period.
Revenue was $664.2 million, down from $1.15 billion for the same period last year. Adjusted net loss, which includes one-time charges, was 9 cents a share.
Analysts had expected the Santa Clara, Calif.-based chip maker to report a loss of 11 cents a share, on revenue of $514.7 million, according to a consensus survey by Thomson Reuters.
The graphics chip company reported a one-time charge of $140.2 million related to a previously announced cash tender offer to purchase employee stock options.
In a note to clients, Stifel Nicolaus analyst Cody Acree cited the company's 38% sequential revenue jump as Nvidia got a boost from "strong restocking trends on the heels of a deep inventory correction the last few quarters."
However, he also said the company's "margin disappointment throws cold water on [Nvidia's] revenue blowout."
He added: "Gross margin decreased to 28.6% from about 29.4% last quarter on a GAAP basis. Results compared negatively to our estimate of 36.5% and the Street expectation of 35.7%."
Caris & Co. analyst Nicholas Aberle also said in a research note that "while Nvidia appears to have turned the corner from a sales standpoint in the near-term, we struggle to find catalysts to move the stock higher from current levels."
Hi Madmax,
Thanks for posting NVDA ER details.Standards still owns it.
Saleem
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