S&P 500 went down to 912 area but improved by close.....
Dow went down to 8393 area also improved by close.....
Volume was much higher than yesterday on a down day..NOT a good thing....
Internals were weak also with Down volume & declining stocks were in the lead in Both NYSE & Nasdaq.....
Nasdaq leaders behaved well..which is a good thing....
Lot of technicians are also predicting a sideways market with range trending lower...pretty much in line with my Sunday blog...
What I am doing is positioning my trade in MRVL,SOL,TLM..idea is to sell @ profit & then look for other trading ideas..going to stay with what I know & NOT extended/popular.....I expect July & August to be a quick trading market......
AH Futures are mini green in Dow & S&P 500 but mini red in Nasdaq....
AH Gold ,Oil are UP...
VIX closed @ 26.35 UP 3.94%...showing little FEAR on a down day...which confirms narrow trading range scenario in Indices...
AH Nikkei is Down .36% so far.....
Strong stocks included RIMM,AAPL,PALM,TSL,AMZN,BIDU,YGE,GERN....
BLOG does NOT give buy or sell.
Saleem
Tuesday, June 30, 2009
1.5% decline in Dow....
Dow is down about 1.5% followed by S&P 500 then Nasdaq....
Nasdaq is down the least...which is a good thing....as Nasdaq has led this market higher...
Markets will be in a narrower trading range...let us see where we find support in S&P 500 this time last time it was 888......
Most buying by institutions were done in many months of this rally...whole June we were going nowhere....
Gold Down $12.60
Oil Down $2.36
Canadian $ is Down 35 tick against US$.....
Portfolio is MRVL,SOL,TLM....
@ 12.10 following are green :
TSL,YGE,GERN,RIMM,PALM,AAPL,AMZN,STP,V,
BRCD,CTRN,SPWRA,FSLR....
BLOG does NOT give buy or sell.
Saleem
Nasdaq is down the least...which is a good thing....as Nasdaq has led this market higher...
Markets will be in a narrower trading range...let us see where we find support in S&P 500 this time last time it was 888......
Most buying by institutions were done in many months of this rally...whole June we were going nowhere....
Gold Down $12.60
Oil Down $2.36
Canadian $ is Down 35 tick against US$.....
Portfolio is MRVL,SOL,TLM....
@ 12.10 following are green :
TSL,YGE,GERN,RIMM,PALM,AAPL,AMZN,STP,V,
BRCD,CTRN,SPWRA,FSLR....
BLOG does NOT give buy or sell.
Saleem
Monday, June 29, 2009
S&P 500 closed near high of the day...NICE !!!!
Indices were all green @ close......
S&P 500 was the-strongest @ close.....followed by Dow....Nasdaq was relatively weaker @ close.
Nasdaq internals were also weak with declining stocks were in the lead by 14 to 11....
Volume was below average.....in all indices....
Canadian markets are closed on Wed July 1st as it is our Canada Day.....so volume MAY be lighter still on Tuesday....lighter on Wed..Thursday will be low low volume day.....
As the markets have gained substantially since we hit lows in March...most institutions are already invested....so the volume is really trailing off...so there MAY not be a "real buying surge by close on Tuesday"...although we MAY see continued strength going into close....
VIX closed @ the lowest level since LEH....closing @ 25.35 Down 2.24%.....
AH futures are mini RED....
AH Nikkei is UP 1.45% so far !!!!
Among strong stocks were IPI,POT,AGU,FUQI,GS,ISRG,ICE,HPQ,LEN,BAC.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 was the-strongest @ close.....followed by Dow....Nasdaq was relatively weaker @ close.
Nasdaq internals were also weak with declining stocks were in the lead by 14 to 11....
Volume was below average.....in all indices....
Canadian markets are closed on Wed July 1st as it is our Canada Day.....so volume MAY be lighter still on Tuesday....lighter on Wed..Thursday will be low low volume day.....
As the markets have gained substantially since we hit lows in March...most institutions are already invested....so the volume is really trailing off...so there MAY not be a "real buying surge by close on Tuesday"...although we MAY see continued strength going into close....
VIX closed @ the lowest level since LEH....closing @ 25.35 Down 2.24%.....
AH futures are mini RED....
AH Nikkei is UP 1.45% so far !!!!
Among strong stocks were IPI,POT,AGU,FUQI,GS,ISRG,ICE,HPQ,LEN,BAC.....
BLOG does NOT give buy or sell.
Saleem
Indices UP around 1%...so far !!!!
Markets are steady so far.....
Close should be very interesting...
Today is the last 2 days of this month & Q2.....
Gold Down $3.10
Oil UP $1.87 to $71.03
Canadian $ Down 33 tick against US$..Canadian GDP figures are out on Tuesday AM..expected decline of .1%....
In my portfolio :
Added 40% more SOL
Doubled my position in MRVL
Portfolio is MRVL,SOL,TLM....
@ 12.05 following are green :
TLM,TSL,SOL,STP,CSIQ,IPI,AGU,AAPL,PMCS,
POT,ICE,BIDU,FSLR,ISRG,GS,GOOG,FWLT.
BLOG does NOT give buy or sell.
Saleem
Close should be very interesting...
Today is the last 2 days of this month & Q2.....
Gold Down $3.10
Oil UP $1.87 to $71.03
Canadian $ Down 33 tick against US$..Canadian GDP figures are out on Tuesday AM..expected decline of .1%....
In my portfolio :
Added 40% more SOL
Doubled my position in MRVL
Portfolio is MRVL,SOL,TLM....
@ 12.05 following are green :
TLM,TSL,SOL,STP,CSIQ,IPI,AGU,AAPL,PMCS,
POT,ICE,BIDU,FSLR,ISRG,GS,GOOG,FWLT.
BLOG does NOT give buy or sell.
Saleem
Sunday, June 28, 2009
Are we stuck in "rangebound trading"??? YES.....
Indices are trying to digest "huge gains of 37.99% in S&P 500".....
We are basing in a range of 875 to 956 in S&P 500.......
We have 2 more days left to end the month & Q2..which MAY propel US either to high end of the range or MAY even exceed......
The question is what happens after Q2 ends???
I have a "feeling" that we are going to stay in the trading range & MAY go lower than 875 to 850 in S&P 500....
IF... we go to S&P 500 to 850 then high end of the range will come down to 925...thus a new trading range will come into play.....
WHY there is a possibility of lower trading range......???
I have a feeling that guidance for Q3 MAY not be "as expected"......
I also did NOT see the high volume lately which is NEVER a good sign.....
I am also looking @ RSI for many stocks & they are staying @ or LOWER than their recent trading range...this goes for indices & stocks...again NOT a good sign.....
So....
How to trade this market?
IF you are an investor then buy near 850 in S&P 500....
IF you are a daytrader then lock smaller gains...
IF you are a swing trader like me..then locking gains @ the end of the day MAY be desirable...
SO ...by the close of Tuesday....I have to figure out how to position going into July......
I WANT to reduce my exposure to techs in July as they are most "vulnerable" to any rangebound trading...
I still believe that all commodities trade SHOULD work out from July to Sep...this includes Oil stocks,Solar,Gold,Infrastructure,Steel,Copper,Aluminium...
As to AG stocks..they are NOT going to show any life till a new contract is signed by POT with China & India...market then have to evaluate the profit picture based on contract....so AG MAY also test its support & may go into LOWER trading range.....
SO...the bottom line is.... Q3 MAY be challenging to BULLS......
I also see "complacency" as too many "bullish commentary" on CNBC...as IF we have NOTHING to worry & keep BUYING???
My conclusions are based on "weak TAPE" & " euphoric sentiment"......
WEAK tape has certainly surprised me as we seems to be struggling even on UP days..also UP days are NOT very strong and there is NO strong follow thru....
I monitor RSI closely which also has given me PAUSE in my bullish thesis "going forward".....
Here is the RSI for many stocks including my holdings*:
*MRVL..51.97
*SOL...54.23
*TLM...45.85
RIMM..40.94
AAPL..62.25
POT...37.94
AGU...37.64
IPI...46.94
BIDU..61.85
GOOG..58.13
BRCM..48.64
JNPR..48.50
FSLR..39.71
TSL...53.44
ABX...53.20
GG....54.13
X....55.89
GS....57.82
V.....49.15
MA....53.23
S&P 500..52.18
Dow.....47.63
Nasdaq..58.47
I have colour coded all the RSI based on the "current TAPE"
GREEN is healthy tape
BLUE is neutral
RED is WEAK
SOMETIMES buying "NEUTRAL/WEAK" MAY be the safest strategy in a downsloping market???
It is extremely important to get the DIRECTION of market first.....then select stocks accordingly.....
EASY money has been made which even covered up for lot of trading mistakes.....BUT NOW there is very little room for error going forward.....
Making money has been tough lately & it WILL get TOUGHER......
SO..think...before you hit "buy" or "sell" button.....
As we seems to be rangebound "within 9.25%".....ONE bad stock can hurt your returns....
Good luck with your OWN homework because..I have been WRONG about the direction of market for 2nd half of 2008 & early part of 2009.....
BLOG does NOT give buy or sell.
Saleem
We are basing in a range of 875 to 956 in S&P 500.......
We have 2 more days left to end the month & Q2..which MAY propel US either to high end of the range or MAY even exceed......
The question is what happens after Q2 ends???
I have a "feeling" that we are going to stay in the trading range & MAY go lower than 875 to 850 in S&P 500....
IF... we go to S&P 500 to 850 then high end of the range will come down to 925...thus a new trading range will come into play.....
WHY there is a possibility of lower trading range......???
I have a feeling that guidance for Q3 MAY not be "as expected"......
I also did NOT see the high volume lately which is NEVER a good sign.....
I am also looking @ RSI for many stocks & they are staying @ or LOWER than their recent trading range...this goes for indices & stocks...again NOT a good sign.....
So....
How to trade this market?
IF you are an investor then buy near 850 in S&P 500....
IF you are a daytrader then lock smaller gains...
IF you are a swing trader like me..then locking gains @ the end of the day MAY be desirable...
SO ...by the close of Tuesday....I have to figure out how to position going into July......
I WANT to reduce my exposure to techs in July as they are most "vulnerable" to any rangebound trading...
I still believe that all commodities trade SHOULD work out from July to Sep...this includes Oil stocks,Solar,Gold,Infrastructure,Steel,Copper,Aluminium...
As to AG stocks..they are NOT going to show any life till a new contract is signed by POT with China & India...market then have to evaluate the profit picture based on contract....so AG MAY also test its support & may go into LOWER trading range.....
SO...the bottom line is.... Q3 MAY be challenging to BULLS......
I also see "complacency" as too many "bullish commentary" on CNBC...as IF we have NOTHING to worry & keep BUYING???
My conclusions are based on "weak TAPE" & " euphoric sentiment"......
WEAK tape has certainly surprised me as we seems to be struggling even on UP days..also UP days are NOT very strong and there is NO strong follow thru....
I monitor RSI closely which also has given me PAUSE in my bullish thesis "going forward".....
Here is the RSI for many stocks including my holdings*:
*MRVL..51.97
*SOL...54.23
*TLM...45.85
RIMM..40.94
AAPL..62.25
POT...37.94
AGU...37.64
IPI...46.94
BIDU..61.85
GOOG..58.13
BRCM..48.64
JNPR..48.50
FSLR..39.71
TSL...53.44
ABX...53.20
GG....54.13
X....55.89
GS....57.82
V.....49.15
MA....53.23
S&P 500..52.18
Dow.....47.63
Nasdaq..58.47
I have colour coded all the RSI based on the "current TAPE"
GREEN is healthy tape
BLUE is neutral
RED is WEAK
SOMETIMES buying "NEUTRAL/WEAK" MAY be the safest strategy in a downsloping market???
It is extremely important to get the DIRECTION of market first.....then select stocks accordingly.....
EASY money has been made which even covered up for lot of trading mistakes.....BUT NOW there is very little room for error going forward.....
Making money has been tough lately & it WILL get TOUGHER......
SO..think...before you hit "buy" or "sell" button.....
As we seems to be rangebound "within 9.25%".....ONE bad stock can hurt your returns....
Good luck with your OWN homework because..I have been WRONG about the direction of market for 2nd half of 2008 & early part of 2009.....
BLOG does NOT give buy or sell.
Saleem
Saturday, June 27, 2009
BUY rated stocks for "Quick Trade" !!!
Following stocks are flashing buy signal for trading.Please do your OWN due diligence by checking FA/TA/TAPE.
AMZN,AAPL,BIDU,FFIV,GERN,GRMN,GROW,INFY,
JNPR,KONG,LIHR,PAAS,PALM,SOHU,TRLG,WYNN,
CY,GLD,GS,NYX,UXG,RDEN,RT.
Next post by 10 AM Sunday.
BLOG does NOT give buy or sell.
Saleem
AMZN,AAPL,BIDU,FFIV,GERN,GRMN,GROW,INFY,
JNPR,KONG,LIHR,PAAS,PALM,SOHU,TRLG,WYNN,
CY,GLD,GS,NYX,UXG,RDEN,RT.
Next post by 10 AM Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, June 26, 2009
Nasdaq closed Green......
Nasdaq closed in green..while Dow & S&P 500 were small red....
Volume was much higher today..due to re balancing of small cap .....
VIX closed @ 25.93 Down 1.63%..lowest close since LEH collapse
In my portfolio :
SOLD PMCS
Portfolio is MRVL,SOL,TLM.....
POT tape action was pretty impressive after guiding lower..all AG stocks rebounded nicely ..some actually went green & closed green.....
By 10 AM Saturday...I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Volume was much higher today..due to re balancing of small cap .....
VIX closed @ 25.93 Down 1.63%..lowest close since LEH collapse
In my portfolio :
SOLD PMCS
Portfolio is MRVL,SOL,TLM.....
POT tape action was pretty impressive after guiding lower..all AG stocks rebounded nicely ..some actually went green & closed green.....
By 10 AM Saturday...I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Nasdaq Green.....NICE !!!
Nasdaq green.........
Dow & S&P 500 Down less than 1%..so far
Gold UP $1.90
Oil Down $1.25
Canadian $ UP 33 tick against US$.....finally found support....
In my portfolio :
Added 60% more PMCS
Portfolio is MRVL,PMCS,SOL,TLM.....
@ 12.32 following are strong :
PALM,RIMM,AAPL,AMZN,V,ICE,LULU,
MA,BIDU,SOHU,NYX,CMED,SOL,SPWRA,
FSLR,GS,IBN,GOOG.
BLOG does NOT give buy or sell.
Saleem
Dow & S&P 500 Down less than 1%..so far
Gold UP $1.90
Oil Down $1.25
Canadian $ UP 33 tick against US$.....finally found support....
In my portfolio :
Added 60% more PMCS
Portfolio is MRVL,PMCS,SOL,TLM.....
@ 12.32 following are strong :
PALM,RIMM,AAPL,AMZN,V,ICE,LULU,
MA,BIDU,SOHU,NYX,CMED,SOL,SPWRA,
FSLR,GS,IBN,GOOG.
BLOG does NOT give buy or sell.
Saleem
Thursday, June 25, 2009
Indices closed near High of the day...NICE !!!!
Market staged a powerful move UP after finding support.....
Market internals were super strong.....How strong...Here is the today's stat :
UP volume led by 8.17 to 1 NYSE,.....8.19 to 1 in Nasdaq
Advancing stocks led by 4.32 to 1 in NYSE...4.27 to 1 in Nasdaq
New 52 wk highs were 14 in NYSE & 35 in Nasdaq
VIX closed @ lowest level since FEAR days of 09....closing @ 26.36 Down 9.26%
AH PALM ER beat handily UP 13.41% on AH 4.53 million shares.....it is @ new 52 wk High....
AH POT guiding way lower to 70 cents EPS.... vs $1.10-$1.50 which was revised down to begin with earlier...so it is 2nd guide down..Down AH $6.66...taking MOS,AGU,IPI,CF..down also....
Futures are RED...not unexpected considering strong close.....
BLOG does NOT give buy or sell.
Saleem
Market internals were super strong.....How strong...Here is the today's stat :
UP volume led by 8.17 to 1 NYSE,.....8.19 to 1 in Nasdaq
Advancing stocks led by 4.32 to 1 in NYSE...4.27 to 1 in Nasdaq
New 52 wk highs were 14 in NYSE & 35 in Nasdaq
VIX closed @ lowest level since FEAR days of 09....closing @ 26.36 Down 9.26%
AH PALM ER beat handily UP 13.41% on AH 4.53 million shares.....it is @ new 52 wk High....
AH POT guiding way lower to 70 cents EPS.... vs $1.10-$1.50 which was revised down to begin with earlier...so it is 2nd guide down..Down AH $6.66...taking MOS,AGU,IPI,CF..down also....
Futures are RED...not unexpected considering strong close.....
BLOG does NOT give buy or sell.
Saleem
Indices UP about 2%...NICE !!!!!
Markets ignored jobless claim data as it is a lagging indicator.....
Indices found support and wants to head towards HIGHS......
Gold UP $2.90
Oil UP $1.56 to $70.23
Canadian $ Down 44 tick against US$
Portfolio is MRVL,PMCS,SOL,TLM.....
@ 12.55 following are RED...
RIMM,PALM,POT,RCI,SPWRA,STX,
BAC,C,ENER,BRCD,JRCC,EGLE,FSLR.....
BLOG does NOT give buy or sell.
Saleem
Indices found support and wants to head towards HIGHS......
Gold UP $2.90
Oil UP $1.56 to $70.23
Canadian $ Down 44 tick against US$
Portfolio is MRVL,PMCS,SOL,TLM.....
@ 12.55 following are RED...
RIMM,PALM,POT,RCI,SPWRA,STX,
BAC,C,ENER,BRCD,JRCC,EGLE,FSLR.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, June 24, 2009
S&P 500 closed above "golden cross"...NICE !!!!
Market internals were much stronger than indices close....
UP volume,Advancing stocks,New 52 wk highs were all in the lead...real reversal from recent days.....
Fed statement did not give what traders were hoping for" a clear statement of time that interest rate will remain low... say for 6 months"..which MAY be a good thing.......???
Fed MAY believe that economy is coming along fine..so no need to expand their buying of mortgages to keep interest lower.....
Nasdaq,S&P 500 closed green...which is a confidence booster..while Dow was barely down @ close.....
VIX closed @ 29.05 Down 5%...so no real fear about market direction......
Why do I keep monitoring internals of the markets...because it shows me real strength or weakness ahead of the crowd.....also helps me plan my trades...FA is good but one needs to continuously monitor technicals also.....these days markets are becoming trading markets more so than I have ever seen before......I accept TAPE the way it IS......
BLOG does NOT give buy or sell.
Saleem
UP volume,Advancing stocks,New 52 wk highs were all in the lead...real reversal from recent days.....
Fed statement did not give what traders were hoping for" a clear statement of time that interest rate will remain low... say for 6 months"..which MAY be a good thing.......???
Fed MAY believe that economy is coming along fine..so no need to expand their buying of mortgages to keep interest lower.....
Nasdaq,S&P 500 closed green...which is a confidence booster..while Dow was barely down @ close.....
VIX closed @ 29.05 Down 5%...so no real fear about market direction......
Why do I keep monitoring internals of the markets...because it shows me real strength or weakness ahead of the crowd.....also helps me plan my trades...FA is good but one needs to continuously monitor technicals also.....these days markets are becoming trading markets more so than I have ever seen before......I accept TAPE the way it IS......
BLOG does NOT give buy or sell.
Saleem
S&P 500 higher than golden cross..first time NICE !!!!
S&P 500 has achieved golden cross for the first time since this rally started back in March.....this is an important development as to the direction of the market...S&P 500 golden cross is an important step towards confirming an end to the bear market.....S&P 500 reflects the broader equity sentiment......Golden cross is 50 DMA is higher than 200 DMA .... its trading HIGHER than 50DMA today for the first time !!!!
Golden cross generally results in a rebound lasting 49 months and returning 149%...not bad for next 4 years scenario.......only 17% of the gain come before golden cross..this is from "trough to peak gains" as per 14 previous historical sequence.....
In my portfolio :
Added 40% more PMCS ..it is rated for a "breakout @ $8.48 with a target of $9.82" by www.stockconsultant.com
Portfolio is MRVL,PMCS,SOL,TLM
Market got a boost from OECD which is predicting end of recession & moderate growth going forward.....
Durable goods came in better than expected......
Plus markets were oversold to support level.....Nasdaq maintained healthy technical picture even in this selling.....maintained golden cross....
GOLD,OIL & Canadian $ all are UP......
Fed will show its card @ 2.15 PM..so expect volatility going into & coming out...then UPTREND !!!
BLOG does NOT give buy or sell.
Saleem
Golden cross generally results in a rebound lasting 49 months and returning 149%...not bad for next 4 years scenario.......only 17% of the gain come before golden cross..this is from "trough to peak gains" as per 14 previous historical sequence.....
S&P 500 50DMA 900.69
S&P 500 200 DMA 897.23
S&P 500 last trade 906.50..high today is 910.85
In my portfolio :
Added 40% more PMCS ..it is rated for a "breakout @ $8.48 with a target of $9.82" by www.stockconsultant.com
Portfolio is MRVL,PMCS,SOL,TLM
Market got a boost from OECD which is predicting end of recession & moderate growth going forward.....
Durable goods came in better than expected......
Plus markets were oversold to support level.....Nasdaq maintained healthy technical picture even in this selling.....maintained golden cross....
GOLD,OIL & Canadian $ all are UP......
All sectors are participating in this rally...no matter what you have....generally it is UP....
Fed will show its card @ 2.15 PM..so expect volatility going into & coming out...then UPTREND !!!
BLOG does NOT give buy or sell.
Saleem
Tuesday, June 23, 2009
An OK close on wall street......
Markets tried to regain its footing by closing near unchanged levels....UP Volume was in the lead...
BUT..declining stocks still maintained their lead and new 52 wk high list was tilting towards lows.....
Best thing about today's trading was.... that the old leaders were showing renewed strength..RIMM,POT,GS,IPI,CCJ,AGU,MA,V,AMTD were among rebounding stocks....
All sectors have been beaten down.....to support levels which only proves that profit needs to be booked as markets are trying to build a base within a range before moving on UP......
Nasdaq still maintaining golden cross and has come to its support also...this should give us a "healthy RUNUP to the top end of its recent range which is 114 Nasdaq points away or another 6.5%"......
AH ORCL came in with better than expected ER and is UP 3.07% on a volume of 4.29 million shares......
AH Futures are mini red ..but I expect a strong close on Wed...thanks to Fed statement @ 2.15 PM......
BLOG does NOT give buy or sell.
Saleem
BUT..declining stocks still maintained their lead and new 52 wk high list was tilting towards lows.....
Best thing about today's trading was.... that the old leaders were showing renewed strength..RIMM,POT,GS,IPI,CCJ,AGU,MA,V,AMTD were among rebounding stocks....
All sectors have been beaten down.....to support levels which only proves that profit needs to be booked as markets are trying to build a base within a range before moving on UP......
Nasdaq still maintaining golden cross and has come to its support also...this should give us a "healthy RUNUP to the top end of its recent range which is 114 Nasdaq points away or another 6.5%"......
AH ORCL came in with better than expected ER and is UP 3.07% on a volume of 4.29 million shares......
AH Futures are mini red ..but I expect a strong close on Wed...thanks to Fed statement @ 2.15 PM......
BLOG does NOT give buy or sell.
Saleem
Strong support for S&P500 in 888 area....NICE !!!!
S&P 500 is proving many so called technicians WRONG again by making a double bottom in 888 area....a lucky number for Chinese culture $$$$
Lot of hedge funds who are NOT fully invested love to inject FEAR through their proxies on CNBC....but it is NOT working as there are many buyers buying the dip and putting their parked money to work......
Next 6 trading days for the month & Q2 will produce fireworks on the BUY side.....
899.30 is "golden cross number in S&P 500 "...great technical BUY signal....
RSI is 41.89 in S&P 500...an oversold reading.......
Gold UP $1.70
Oil UP 34 cents
Canadian $ is UP 10 tick so far against US$......
Portfolio is MRVL,PMCS,SOL,TLM.....
@ 12.20 following are strong :
IPI,RIMM,PALM,KGC,SINA,V,POT,BRCD,CCJ,
MA,ABX,GG,SNE,GS,AGU......
BLOG does NOT give buy or sell.
Saleem
Lot of hedge funds who are NOT fully invested love to inject FEAR through their proxies on CNBC....but it is NOT working as there are many buyers buying the dip and putting their parked money to work......
Next 6 trading days for the month & Q2 will produce fireworks on the BUY side.....
899.30 is "golden cross number in S&P 500 "...great technical BUY signal....
RSI is 41.89 in S&P 500...an oversold reading.......
Gold UP $1.70
Oil UP 34 cents
Canadian $ is UP 10 tick so far against US$......
Portfolio is MRVL,PMCS,SOL,TLM.....
@ 12.20 following are strong :
IPI,RIMM,PALM,KGC,SINA,V,POT,BRCD,CCJ,
MA,ABX,GG,SNE,GS,AGU......
BLOG does NOT give buy or sell.
Saleem
Monday, June 22, 2009
Tape was "ugly" today.....
Market internals were "horrible" @ close.....
Today's selling was across the board...no sector was spared.....
VIX shot UP 11.36% to close @ 31.17.....
OIL,GOLD & CAD all took it on the chin.....
Today's close had the feeling of "complete washout" as S&P 500 closed @ absolute low of the day......
NOW..for the good news.....
Volume was "average"
S&P 500 closed @ 893.04
S&P 500 50 DMA is 898.63
S&P 500 200 DMA is 900.76
SO...we closed only 7.72 points away from 200 DMA.....
WAIT...there IS more good news.....Golden cross in S&P 500 is only 2.14 points away.....
So..you think that market IS capable of doing mini technical repair????
I would like to think so.....being an optimistic Taurus....
AH futures are as follows :
Dow UP 10.99
S&P 500 UP .86
Nasdaq UP 2.54
NOT bad after a day like today.....when every pundit & their brother-in-law is predicting S&P 500 in 870 area????
SO..cheer UP....
Sky is NOT falling !!!!
I kept all my position as is.....
BLOG does NOT give buy or sell.
Saleem
Today's selling was across the board...no sector was spared.....
VIX shot UP 11.36% to close @ 31.17.....
OIL,GOLD & CAD all took it on the chin.....
Today's close had the feeling of "complete washout" as S&P 500 closed @ absolute low of the day......
NOW..for the good news.....
Volume was "average"
S&P 500 closed @ 893.04
S&P 500 50 DMA is 898.63
S&P 500 200 DMA is 900.76
SO...we closed only 7.72 points away from 200 DMA.....
WAIT...there IS more good news.....Golden cross in S&P 500 is only 2.14 points away.....
So..you think that market IS capable of doing mini technical repair????
I would like to think so.....being an optimistic Taurus....
AH futures are as follows :
Dow UP 10.99
S&P 500 UP .86
Nasdaq UP 2.54
NOT bad after a day like today.....when every pundit & their brother-in-law is predicting S&P 500 in 870 area????
SO..cheer UP....
Sky is NOT falling !!!!
I kept all my position as is.....
BLOG does NOT give buy or sell.
Saleem
2% to 2.9% pullback on World Bank's gloomy prediction....
Markets are pulling back about 3%..thanks to World Bank's gloomy prediction of <2.9%> growth vs previous prediction of <1.7%> given in March......
Gold Down $15.50
Oil Down to $66.81 Down $2.74
Canadian $ is taking it on the chin also Down 1.5 cents against US$
Portfolio is MRVL,PMCS,SOL,TLM.....
Even good news of 1 million sales of iphone did not cheer the markets or AAPL stock?
MRVL upped its guidance BUT stock is down?
So today everything IS being sold down.....even with great fundamental news???
I personally believe that this IS an "over-reaction" to World Bank report and we will find footing near lows of the day.....
BLOG does NOT give buy or sell.
Saleem
Gold Down $15.50
Oil Down to $66.81 Down $2.74
Canadian $ is taking it on the chin also Down 1.5 cents against US$
Portfolio is MRVL,PMCS,SOL,TLM.....
Even good news of 1 million sales of iphone did not cheer the markets or AAPL stock?
MRVL upped its guidance BUT stock is down?
So today everything IS being sold down.....even with great fundamental news???
I personally believe that this IS an "over-reaction" to World Bank report and we will find footing near lows of the day.....
BLOG does NOT give buy or sell.
Saleem
Sunday, June 21, 2009
S&P 500 all set to make "golden cross"....$$$$
S&P 500 200 DMA is 902.48
S&P 500 50 DMA is 897.90
S&P 500 closed @ 921.23
S&P 500 High this year is 956.23
S&P 500 high set back in Oct 2007 was 1576.09
S&P 500 CMF is positive & rising @ +.131
What all the above stat means that if S&P 500 goes UP by 4.58 on Monday ...we will make a golden cross..which is highly likely & will be extremely bullish ......
Next 7 trading days MAY see feverish buying activity by mutual/hedge funds to be invested in this ascending market......next seven trading days will end the month of June & end of 2nd quarter window dressing.....a bullish configuration to say the least.
Many institutions are under invested as they were NOT sure if markets are "healthy or NOT" ???as we have finished one of the worst bear market in history...caution was prudent & necessary.......
Now that the markets ARE giving clear signal that not only markets are healthy but "economy is also on the mend worldwide"......a good mix to be aggressive in market.........
As trillions are still parked in money market earning around 3%......markets are beating those returns handily as S&P 500 is UP 38.16% since lows...
Technology has outperformed by being UP 44.40%......Nasdaq is well above golden cross & is looking the healthiest......
Nasdaq will "lead all indices to higher highs"
Nasdaq high in October 07 was 2861.51.....which is another 1034.04 points away or 56.6% further move UP......
So the bottom line is..... that indices are far far from recent highs which was set in Oct 07..before this financial meltdown took hold......
As financial meltdown has been dealt with for the most part...it is "reasonable to EXPECT" that we will be higher than Oct 2007 in due course.......
There is a need to make some sector bet which will outperform.......
Techs,Oil,Solar with a focus on small cap will outperform......
Are you surprised about OIL???...as economy starts growing which will be evident to everyone by Q4...Oil will be the leading indicator...so pay attention to oil which is "outperforming already"
It is also important to look for "laggards" in those sectors based on historical trends......% move UP in laggards will be "stunning" as we go forward.......
Yes...there will be 5% correction along the way on a periodic basis......but trend is UP !!!!!
Tape is very healthy...
Do your OWN homework & buy "oversold stocks with good fundamentals"......
RSI 50 area remains a buy & 70 area remains a sell......
Please follow fundamentals closely as some popular sectors MAY see "margin erosion" which will cap any serious move UP.....
Stay diversified in many sectors.
My strategy IS to trade resistance & buy @ near support.....has served me well $$$$
BLOG does NOT give buy or sell.
Saleem
S&P 500 50 DMA is 897.90
S&P 500 closed @ 921.23
S&P 500 High this year is 956.23
S&P 500 high set back in Oct 2007 was 1576.09
S&P 500 CMF is positive & rising @ +.131
What all the above stat means that if S&P 500 goes UP by 4.58 on Monday ...we will make a golden cross..which is highly likely & will be extremely bullish ......
Next 7 trading days MAY see feverish buying activity by mutual/hedge funds to be invested in this ascending market......next seven trading days will end the month of June & end of 2nd quarter window dressing.....a bullish configuration to say the least.
Many institutions are under invested as they were NOT sure if markets are "healthy or NOT" ???as we have finished one of the worst bear market in history...caution was prudent & necessary.......
Now that the markets ARE giving clear signal that not only markets are healthy but "economy is also on the mend worldwide"......a good mix to be aggressive in market.........
As trillions are still parked in money market earning around 3%......markets are beating those returns handily as S&P 500 is UP 38.16% since lows...
Technology has outperformed by being UP 44.40%......Nasdaq is well above golden cross & is looking the healthiest......
Nasdaq will "lead all indices to higher highs"
Nasdaq high in October 07 was 2861.51.....which is another 1034.04 points away or 56.6% further move UP......
So the bottom line is..... that indices are far far from recent highs which was set in Oct 07..before this financial meltdown took hold......
As financial meltdown has been dealt with for the most part...it is "reasonable to EXPECT" that we will be higher than Oct 2007 in due course.......
There is a need to make some sector bet which will outperform.......
Techs,Oil,Solar with a focus on small cap will outperform......
Are you surprised about OIL???...as economy starts growing which will be evident to everyone by Q4...Oil will be the leading indicator...so pay attention to oil which is "outperforming already"
It is also important to look for "laggards" in those sectors based on historical trends......% move UP in laggards will be "stunning" as we go forward.......
Yes...there will be 5% correction along the way on a periodic basis......but trend is UP !!!!!
Tape is very healthy...
Do your OWN homework & buy "oversold stocks with good fundamentals"......
RSI 50 area remains a buy & 70 area remains a sell......
Please follow fundamentals closely as some popular sectors MAY see "margin erosion" which will cap any serious move UP.....
Stay diversified in many sectors.
My strategy IS to trade resistance & buy @ near support.....has served me well $$$$
BLOG does NOT give buy or sell.
Saleem
Saturday, June 20, 2009
BUY rated stocks for " another UPLEG" !!!
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
BWLD,SKX,MGA,ISIS,VFC,OSTK,COCO,HS,STE,
ZOLL,CAKE,HOLX,MSTR,NVEC,FUQI,KEY,KG,
ELX,OFI,RBY,RDI,BAM,CMED,NOVL,ANN.
Next post by 10AM Sunday.
Happy Fathers Day !!!!
BLOG does NOT give buy or sell.
Saleem
BWLD,SKX,MGA,ISIS,VFC,OSTK,COCO,HS,STE,
ZOLL,CAKE,HOLX,MSTR,NVEC,FUQI,KEY,KG,
ELX,OFI,RBY,RDI,BAM,CMED,NOVL,ANN.
Next post by 10AM Sunday.
Happy Fathers Day !!!!
BLOG does NOT give buy or sell.
Saleem
Friday, June 19, 2009
Market internals back to "bullish mode" @ close...NICE !!!
Market internals were decidedly in bullish camp which some indices were not showing @ close...
UP volume were leading by 1.76 to 1 in NYSE
UP volume were leading by 1.77 to 1 in Nasdaq
Advancing stocks were leading by 19 to 11 in NYSE
Advancing stocks were leading by 17 to 10 in Nasdaq
New 52 wk highs also expanded to 17 in NYSE & 33 in Nasdaq...
VIX closed @ 27.99 Down 6.79%
10 yr yield closed @ 3.785% Down .81%...
All in all..all stat pointing to resumption of "bull tape"...
By 10AM Saturday i will post a list of buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
UP volume were leading by 1.76 to 1 in NYSE
UP volume were leading by 1.77 to 1 in Nasdaq
Advancing stocks were leading by 19 to 11 in NYSE
Advancing stocks were leading by 17 to 10 in Nasdaq
New 52 wk highs also expanded to 17 in NYSE & 33 in Nasdaq...
VIX closed @ 27.99 Down 6.79%
10 yr yield closed @ 3.785% Down .81%...
All in all..all stat pointing to resumption of "bull tape"...
By 10AM Saturday i will post a list of buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Nasdaq strong today.....
Markets are giving up majority of gains all due to Quad-witching Option expiry...Option market entails Billions in profit or loss depending on strike price......
Traders/Investors are comfortable with what they see in economic picture...future is bright going forward.....China economy forecast was upgraded by World Bank as GDP growing to 7.2%..good for all markets !!!!
Gold UP 50 cents
Oil UP 50 cents
Canadian $ UP 19 tick against US$...yesterday it closed down 18 tick.....in a basing mode....
Portfolio is MRVL,PMCS,SOL,TLM......
@ 12.44 following are strong :
MRVL,SOL,PMCS,STP,AAPL,KGC,AMZN,PALM,
SINA,FMCN,ICE,TKC,LULU,CCJ,IGT,JRCC,WYNN,
BIDU,LVS,CMED(ER BEAT),SPWR,FSLR,ISRG,
GG,VAR,IBN,GOOG,TLM,GRMN.....
RIMM is being sold off despite target increase by many analysts???
BLOG does NOT give buy or sell.
Saleem
Traders/Investors are comfortable with what they see in economic picture...future is bright going forward.....China economy forecast was upgraded by World Bank as GDP growing to 7.2%..good for all markets !!!!
Gold UP 50 cents
Oil UP 50 cents
Canadian $ UP 19 tick against US$...yesterday it closed down 18 tick.....in a basing mode....
Portfolio is MRVL,PMCS,SOL,TLM......
@ 12.44 following are strong :
MRVL,SOL,PMCS,STP,AAPL,KGC,AMZN,PALM,
SINA,FMCN,ICE,TKC,LULU,CCJ,IGT,JRCC,WYNN,
BIDU,LVS,CMED(ER BEAT),SPWR,FSLR,ISRG,
GG,VAR,IBN,GOOG,TLM,GRMN.....
RIMM is being sold off despite target increase by many analysts???
BLOG does NOT give buy or sell.
Saleem
Thursday, June 18, 2009
Research IS in Motion....
RIMM AH reported reported as predicted by me 98 cents EPS... Sales of $3.42 Billion were in line also.....
Q2 Guidance was pretty good in terms of Sales & EPS of 99 cents compared to consensus of 97 cents...
Reaction to RIMM ER was a quick dump to about $5 down? BUT made it almost all back with in 5.08 million shares traded AH.... because it did not exceed Sales in Q1 or guidance in Q2 for Sales is $100 million less than consensus of $3.61 Billion vs $3.58 billion guidance.....Their high end of guidance IS way higher than consensus in both EPS & Sales...which IS where I believe that RIMM will end up in Q2......
Remember how AAPL guides "way lower than consensus" and everybody is happy & then AAPL beats by several cents to where the "original consensus was to begin with"...
RIMM in its CC is "not concerned about competition or $99 pricing"
Indices were mostly green with fractional loss for Nasdaq......
Rest of the June is setting UP for a major move UP for Q2 buying.....
AH futures are all green......
BLOG does NOT give buy or sell.
Saleem
Q2 Guidance was pretty good in terms of Sales & EPS of 99 cents compared to consensus of 97 cents...
Reaction to RIMM ER was a quick dump to about $5 down? BUT made it almost all back with in 5.08 million shares traded AH.... because it did not exceed Sales in Q1 or guidance in Q2 for Sales is $100 million less than consensus of $3.61 Billion vs $3.58 billion guidance.....Their high end of guidance IS way higher than consensus in both EPS & Sales...which IS where I believe that RIMM will end up in Q2......
Remember how AAPL guides "way lower than consensus" and everybody is happy & then AAPL beats by several cents to where the "original consensus was to begin with"...
RIMM in its CC is "not concerned about competition or $99 pricing"
Indices were mostly green with fractional loss for Nasdaq......
Rest of the June is setting UP for a major move UP for Q2 buying.....
AH futures are all green......
BLOG does NOT give buy or sell.
Saleem
S&P 500 & Dow Green......
Markets are in a stable mode....
Nasdaq is lagging so far.....
Gold UP $5.10
Oil Down 9 cents to $70.94
Canadian $ UP 22 tick after closing UP yesterday also against US$...
Portfolio is MRVL,PMCS,SOL,TLM....
@ 11.21 following are green :
AAPL,KGC,TLM,IPI,TKC,CTRN,ICE,NDAQ,
NYX,CMED,VLO,ABX,FSLR,GG,GS.
RIMM reports AH ..expecting a beat & guide UP...consensus is 94 cents EPS & Sales of $3.43 Billion..whisper number is 96 cents...expecting EPS of 98 cents +++
BLOG does NOT give buy or sell.
PS...posting early as I have to step out.
Saleem
Nasdaq is lagging so far.....
Gold UP $5.10
Oil Down 9 cents to $70.94
Canadian $ UP 22 tick after closing UP yesterday also against US$...
Portfolio is MRVL,PMCS,SOL,TLM....
@ 11.21 following are green :
AAPL,KGC,TLM,IPI,TKC,CTRN,ICE,NDAQ,
NYX,CMED,VLO,ABX,FSLR,GG,GS.
RIMM reports AH ..expecting a beat & guide UP...consensus is 94 cents EPS & Sales of $3.43 Billion..whisper number is 96 cents...expecting EPS of 98 cents +++
BLOG does NOT give buy or sell.
PS...posting early as I have to step out.
Saleem
Wednesday, June 17, 2009
Constructive close in Indices.....
Markets were quite "vulnerable" to a major downdraft...but that never happened.....
That shows that the "market trend remains healthy"
S&P 500 dipped below 200 DMA but came UP quickly & closed @ 910.71..200 DMA is 906.05...We have always closed above 200 DMA ever since we crossed it @ the start of June....so why Guy Adami keeps repeating that S&P 500 have failed twice @ 200 DMA..may be he does not know what 200 DMA is for S&P 500????
Fast Money has "eliminated Jeff Macke"......
Melissa Lee is doing good job of information flow both in Halftime report & Fast Money...now only if she can stop Adami from pushing INTC every day & get him training for 200 DMA????
About market...there is a need to figure out.... what MAY work in next few months...based on my thesis.... small caps, Techs,Oil ,Solar will be the-group......
AH futures are Green in Dow & S&P 500 small red in Nasdaq...
AH...OIL,GOLD are UP..which bodes well for markets on Thursday......
Among green stocks were PMCS,AMZN,BIDU,FXI,NVDA,LRCX,CTRN,GRMN,HPQ,SNDK,VAR...
BLOG does NOT give buy or sell.
Saleem
That shows that the "market trend remains healthy"
S&P 500 dipped below 200 DMA but came UP quickly & closed @ 910.71..200 DMA is 906.05...We have always closed above 200 DMA ever since we crossed it @ the start of June....so why Guy Adami keeps repeating that S&P 500 have failed twice @ 200 DMA..may be he does not know what 200 DMA is for S&P 500????
Fast Money has "eliminated Jeff Macke"......
Melissa Lee is doing good job of information flow both in Halftime report & Fast Money...now only if she can stop Adami from pushing INTC every day & get him training for 200 DMA????
About market...there is a need to figure out.... what MAY work in next few months...based on my thesis.... small caps, Techs,Oil ,Solar will be the-group......
AH futures are Green in Dow & S&P 500 small red in Nasdaq...
AH...OIL,GOLD are UP..which bodes well for markets on Thursday......
Among green stocks were PMCS,AMZN,BIDU,FXI,NVDA,LRCX,CTRN,GRMN,HPQ,SNDK,VAR...
BLOG does NOT give buy or sell.
Saleem
Nice turnaround in indices.."green IS good"
We just completed a "classic" testing of support in market....
S&P 500 went below 200 DMA & came back UP......
Market needed this pullback to "reset UPTREND"
Gold UP 10 cents
Oil Down 58 cents
Canadian $ down 42 tick..expecting a turn UP by close....
In my portfolio :
Added 50% more TLM
Bought MRVL...
Bought PMCS...
Portfolio is MRVL,PMCS,SOL,TLM......
Ag stocks are taking a huge hit thanks to warning by a German potash company & POT cutting production AGAIN also giving "bearish outlook"
@ 12.09 following are strong :
PMCS,NDN,AMZN,BRCD,TKC,CTRN,MA,BIDU,
IBN,GOOG,ISRG,VAR,SNE....
BLOG does NOT give buy or sell.
Saleem
S&P 500 went below 200 DMA & came back UP......
Market needed this pullback to "reset UPTREND"
Gold UP 10 cents
Oil Down 58 cents
Canadian $ down 42 tick..expecting a turn UP by close....
In my portfolio :
Added 50% more TLM
Bought MRVL...
Bought PMCS...
Portfolio is MRVL,PMCS,SOL,TLM......
Ag stocks are taking a huge hit thanks to warning by a German potash company & POT cutting production AGAIN also giving "bearish outlook"
@ 12.09 following are strong :
PMCS,NDN,AMZN,BRCD,TKC,CTRN,MA,BIDU,
IBN,GOOG,ISRG,VAR,SNE....
BLOG does NOT give buy or sell.
Saleem
Tuesday, June 16, 2009
Another down day @ close.....
Markets are going through corrective process.....
S&P 500 is ready to test 200 DMA @ 907.91....it closed @ 911.97......
Internals were decidedly "bearish" with declining stocks & down volume in lead by far....
New high /low list is tilting lower.....
President Obama will announce financial oversight rules...which IS also a negative in last two days......
AH futures are green.....which may give false start in AM...then another wave of selling.....
Indices MAY try to stage a rebound by close... as 3rd day of selling MAY create oversold conditions......
In my portfolio :
Sold MRVL
Sold PMCS
Portfolio is SOL & TLM......
Strong stocks today included PMCS,GS,SINA,SOL,CSIQ,PALM,FMCN....
BLOG does NOT give buy or sell.
PS...post was delayed... to analyze market health.....
Saleem
S&P 500 is ready to test 200 DMA @ 907.91....it closed @ 911.97......
Internals were decidedly "bearish" with declining stocks & down volume in lead by far....
New high /low list is tilting lower.....
President Obama will announce financial oversight rules...which IS also a negative in last two days......
AH futures are green.....which may give false start in AM...then another wave of selling.....
Indices MAY try to stage a rebound by close... as 3rd day of selling MAY create oversold conditions......
In my portfolio :
Sold MRVL
Sold PMCS
Portfolio is SOL & TLM......
Strong stocks today included PMCS,GS,SINA,SOL,CSIQ,PALM,FMCN....
BLOG does NOT give buy or sell.
PS...post was delayed... to analyze market health.....
Saleem
Nasdaq Green.....
Indices are mixed with Nasdaq in green.....
Option Expiry is playing a bigger rule in tape action today......
Economic data was mostly positive......but Market Makers need to control stock prices until they are all covered with their strategy....
Industrial production fell more than expected which MAY account for some weak tape also...
Many stocks are pinned down to certain strike price...which MAY continue till Thursday....
Gold UP $10.40 was oversold....
Oil UP $1.44
Canadian $ UP 15 tick against US$ .....
Portfolio is MRVL,PMCS,SOL,TLM.....
@ 12.06 following are green in my watch list :
SOL,PMCS,TSL,STP,YGE,PALM,RIMM,AAPL,KGC,
IAG,SINA,FMCN,CTRN,IGT,WYNN,LVS,ABX,ISRG,
GG,GS,IBN,GOOG....
BLOG does NOT give buy or sell.
Saleem
Option Expiry is playing a bigger rule in tape action today......
Economic data was mostly positive......but Market Makers need to control stock prices until they are all covered with their strategy....
Industrial production fell more than expected which MAY account for some weak tape also...
Many stocks are pinned down to certain strike price...which MAY continue till Thursday....
Gold UP $10.40 was oversold....
Oil UP $1.44
Canadian $ UP 15 tick against US$ .....
Portfolio is MRVL,PMCS,SOL,TLM.....
@ 12.06 following are green in my watch list :
SOL,PMCS,TSL,STP,YGE,PALM,RIMM,AAPL,KGC,
IAG,SINA,FMCN,CTRN,IGT,WYNN,LVS,ABX,ISRG,
GG,GS,IBN,GOOG....
BLOG does NOT give buy or sell.
Saleem
Monday, June 15, 2009
2%+ decline @ close.....
Indices corrected after making series of higher highs......
Volume was below average in this selling.....
Tape was bearish ....
Internals were led by decliners & down volume by a wide margin.....
www.stockcharts.com has turned bearish in all indices with a downside target as listed below :
S&P 500 880
Dow 8300
Nasdaq 1740
All of the above target implies 2 more days of selling......
As we have Option Expiry this Friday a triple witching.....indices may be "pinned down by market makers to square off their position with their own objective/prices"
Now those of you who are well diversified in many sectors with good FA/TA ...have nothing to worry.....
Most vulnerable are those "sexy names/high fliers" who always corrects sharply in any selling...OE also brings many stocks to "certain strike levels".....
I am expecting that by Thursday mid-day..OE will finish its "game playing"...
Following stocks were among green today :
MRVL,SOL,CTRN,NDN,AMTD,BIDU,V,WFR....
AH YGE doing a secondary offering 15.5 million shares ..proceed estimated @ $163.1 million...
AH Futures mini red...
AH Nikkei Down 1.45% .....
BLOG does NOT give buy or sell.
Saleem
Volume was below average in this selling.....
Tape was bearish ....
Internals were led by decliners & down volume by a wide margin.....
www.stockcharts.com has turned bearish in all indices with a downside target as listed below :
S&P 500 880
Dow 8300
Nasdaq 1740
All of the above target implies 2 more days of selling......
As we have Option Expiry this Friday a triple witching.....indices may be "pinned down by market makers to square off their position with their own objective/prices"
Now those of you who are well diversified in many sectors with good FA/TA ...have nothing to worry.....
Most vulnerable are those "sexy names/high fliers" who always corrects sharply in any selling...OE also brings many stocks to "certain strike levels".....
I am expecting that by Thursday mid-day..OE will finish its "game playing"...
Following stocks were among green today :
MRVL,SOL,CTRN,NDN,AMTD,BIDU,V,WFR....
AH YGE doing a secondary offering 15.5 million shares ..proceed estimated @ $163.1 million...
AH Futures mini red...
AH Nikkei Down 1.45% .....
BLOG does NOT give buy or sell.
Saleem
2.3% to 2.74% pullback......
Markets are correcting after making higher highs for many days.....
US$ is strong based on Russian support....
OIL down $2.28
Gold Down $11.70
Canadian $ Down 1.31 cent against US$.....
Portfolio is MRVL,PMCS,SOL,TLM....
@ 12.25 following are green in my watch list :
NDN,V,CTRN,MA,AMTD.....
BLOG does NOT give buy or sell.
Saleem
US$ is strong based on Russian support....
OIL down $2.28
Gold Down $11.70
Canadian $ Down 1.31 cent against US$.....
Portfolio is MRVL,PMCS,SOL,TLM....
@ 12.25 following are green in my watch list :
NDN,V,CTRN,MA,AMTD.....
BLOG does NOT give buy or sell.
Saleem
Sunday, June 14, 2009
What is wrong with this picture ?
There IS a famous saying that "a picture is worth thousand words"
This IS the picture as of Friday's close :
Dow UP 2,329.31 points or 36%
S&P 500 UP 279.42 points or 41.9%
Nasdaq UP 593.28 points or 46.88%
Oil UP $38 per barrel or 112%
VIX DOWN 61.38 points or <68.6%>
All of above happened in 96 calender days...OR on an annualized basis we ARE looking @ minimum 135%.....
FACTS do NOT lie but media & individual DO... to push their OWN agenda....????
All of the above is ONLY possible IF there "is a material change in the economic picture of this universe"
Most world economy is "back on track"....GROWTH is happening right NOW.....
G8 finance ministers over the weekend even discussed how to "remove the stimulative programs in future" as economy seems to showing its PULSE now?
In US media is always engaged with "disinformation to affect hour to hour trading strategies"CNBC is the-biggest agent of varying agendas to get the desired result on a daily basis"...
Just imagine..... IF there is NO CNBC ?
Then all investors & traders will do their OWN homework instead of "PANIC trading by the minute as fed to them by CNBC"
In Toronto housing has lost only 6% from absolute top.....
In Toronto million $ plus home are selling @ record breaking pace UP YOY
In China retail sales are UP 14%+++
In India all the economic numbers are showing "healthy rebound"
In short there is PULSE in the economic picture......
Can you imagine where we will be in markets ..IF we show real GROWTH in US.....which is only few months away......
Even doomsters like Roubini is changing their tune RELUCTANTLY?
Most fed officials are comfortable with the emerging economic picture & are actually predicting growth by Q4....
If you look @ US bond picture from 3 months to 30 year yield.... it IS giving a sign of solid growth to come.....NO more losing money to keep money in treasury......+ yields are there even for 3 months.....
So the thesis IS.... "picture is telling you MORE than what you are led to believe"
Stock market & money market always predict future economic activity.....
So believe what you see in all markets.....
Russian markets have gone UP the-most worldwide......
OH...how about those prediction of major collapse in markets as championed by Art Cashin & Fast Money on daily basis.....???....i will just leave @ that...let them talk & make a fool of themselves on a daily basis..they love to hang themselves in front of millions of TV viewers???
YES....there is always a "routine/required correction in markets which takes many forms....like sector rotations" OR like stocks taking a required 10% pullbacks which IS happening on a daily basis.....
TREND is UP.....
SERIOUS money is being made.....
BUY strong stocks with growth potential one year out.....
Sometimes biggest % move UP is in small cap....on a daily basis....
So.....do your OWN homework & always look @ the big picture...which IS extremely bright..market knows it...
FOLLOW the TAPE !!!!!
BLOG does NOT give buy or sell.
Saleem
This IS the picture as of Friday's close :
Dow UP 2,329.31 points or 36%
S&P 500 UP 279.42 points or 41.9%
Nasdaq UP 593.28 points or 46.88%
Oil UP $38 per barrel or 112%
VIX DOWN 61.38 points or <68.6%>
All of above happened in 96 calender days...OR on an annualized basis we ARE looking @ minimum 135%.....
FACTS do NOT lie but media & individual DO... to push their OWN agenda....????
All of the above is ONLY possible IF there "is a material change in the economic picture of this universe"
Most world economy is "back on track"....GROWTH is happening right NOW.....
G8 finance ministers over the weekend even discussed how to "remove the stimulative programs in future" as economy seems to showing its PULSE now?
In US media is always engaged with "disinformation to affect hour to hour trading strategies"CNBC is the-biggest agent of varying agendas to get the desired result on a daily basis"...
Just imagine..... IF there is NO CNBC ?
Then all investors & traders will do their OWN homework instead of "PANIC trading by the minute as fed to them by CNBC"
In Toronto housing has lost only 6% from absolute top.....
In Toronto million $ plus home are selling @ record breaking pace UP YOY
In China retail sales are UP 14%+++
In India all the economic numbers are showing "healthy rebound"
In short there is PULSE in the economic picture......
Can you imagine where we will be in markets ..IF we show real GROWTH in US.....which is only few months away......
Even doomsters like Roubini is changing their tune RELUCTANTLY?
Most fed officials are comfortable with the emerging economic picture & are actually predicting growth by Q4....
If you look @ US bond picture from 3 months to 30 year yield.... it IS giving a sign of solid growth to come.....NO more losing money to keep money in treasury......+ yields are there even for 3 months.....
So the thesis IS.... "picture is telling you MORE than what you are led to believe"
Stock market & money market always predict future economic activity.....
So believe what you see in all markets.....
Russian markets have gone UP the-most worldwide......
OH...how about those prediction of major collapse in markets as championed by Art Cashin & Fast Money on daily basis.....???....i will just leave @ that...let them talk & make a fool of themselves on a daily basis..they love to hang themselves in front of millions of TV viewers???
YES....there is always a "routine/required correction in markets which takes many forms....like sector rotations" OR like stocks taking a required 10% pullbacks which IS happening on a daily basis.....
TREND is UP.....
SERIOUS money is being made.....
BUY strong stocks with growth potential one year out.....
Sometimes biggest % move UP is in small cap....on a daily basis....
So.....do your OWN homework & always look @ the big picture...which IS extremely bright..market knows it...
FOLLOW the TAPE !!!!!
BLOG does NOT give buy or sell.
Saleem
Saturday, June 13, 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.
SDTH,OTEX,KMX,HSY,GTE,T,ELOS,AMLN,
PHI,EE,RX,ALSK,DXCM,ELX,ELN,REV,RHT,
TKC,UEC,BAC,IPI,VAR,MRK,NVS,S.
Next post by 10AM Sunday.
BLOG does NOT give buy or sell.
Saleem
SDTH,OTEX,KMX,HSY,GTE,T,ELOS,AMLN,
PHI,EE,RX,ALSK,DXCM,ELX,ELN,REV,RHT,
TKC,UEC,BAC,IPI,VAR,MRK,NVS,S.
Next post by 10AM Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, June 12, 2009
Highest close in Dow & S&P 500...NICE !!!!
Markets are on a roll still...much to the delight of fundamentally driven traders/investors.
Rest of the technical traders & "wait till we are sure crowd" are waiting for a correction which is "not meant to be"....
Everyday there is a NEW & IMPROVED concern about markets "health".....well stay concerned & MISS out on the biggest "bull run in a long long time".....
Dow & S&P 500 had the highest close since March lows.....sign of technical "strength".....
Some of the strong stocks were PALM,CMED,NDN,BAC,HPQ,FITB......
By 10 AM Saturday...I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Rest of the technical traders & "wait till we are sure crowd" are waiting for a correction which is "not meant to be"....
Everyday there is a NEW & IMPROVED concern about markets "health".....well stay concerned & MISS out on the biggest "bull run in a long long time".....
Dow & S&P 500 had the highest close since March lows.....sign of technical "strength".....
Some of the strong stocks were PALM,CMED,NDN,BAC,HPQ,FITB......
By 10 AM Saturday...I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Minor giveback in all indices.....NICE !!!!
Consumers are most confident in 9 months.....
Investors are comfortable with this market.....
Only CNBC full of depressing characters.....who only see negatives in this 40+% runup...
S&P 500 is getting "ready" to make a golden cross......but technicians are acting like "chicken..with their head cutoff".....
Shorting in a "bull tape can BLUR your capabilities"..technicians are living 2008 market...they keep shorting @ every higher highs ..BUT we keep going HIGHER......?????
Gold Down $17.10 to $944.20....it is in support zone TODAY !!!!
Oil Down 86 cents to $71.82
Canadian $ is down 1.27 cent against US$ which is showing technical rebound......
VIX 28.27 UP only .57%...FEAR what FEAR...
Portfolio is MRVL,PMCS,SOL,TLM....
@ 12.21 following are green :
PALM,NDN,TKC,CTRN,LULU,WYNN,CMED,
ISRG,VAR,FWLT,BAC.....
BLOG does NOT give buy or sell.
Saleem
Investors are comfortable with this market.....
Only CNBC full of depressing characters.....who only see negatives in this 40+% runup...
S&P 500 is getting "ready" to make a golden cross......but technicians are acting like "chicken..with their head cutoff".....
Shorting in a "bull tape can BLUR your capabilities"..technicians are living 2008 market...they keep shorting @ every higher highs ..BUT we keep going HIGHER......?????
Gold Down $17.10 to $944.20....it is in support zone TODAY !!!!
Oil Down 86 cents to $71.82
Canadian $ is down 1.27 cent against US$ which is showing technical rebound......
VIX 28.27 UP only .57%...FEAR what FEAR...
Portfolio is MRVL,PMCS,SOL,TLM....
@ 12.21 following are green :
PALM,NDN,TKC,CTRN,LULU,WYNN,CMED,
ISRG,VAR,FWLT,BAC.....
BLOG does NOT give buy or sell.
Saleem
Thursday, June 11, 2009
Higher HIGHS in major indices...NICE !!!!
Stock market is in an ascending mode...against the wishes of many "vocal experts".....as long as they keep saying "fetal position" and "selling everything" on a daily basis we should do "mighty fine"....
Currently Market,interest rates are adjusting to an "improving economy".....
Oil is "the biggest indicator" of where the economy is heading.......
Asia is almost back to "normal growth"
Europe is "turning the page"
US picture is "muddied thanks to negative media"who will do many negative stories to get the ratings UP......
Any green close is a "sign of strength"
Downside in indices have been "muted" & will continue to be so......
Media IS giving you the impression as if we are "testing the lows on a daily basis"?????
In my portfolio :
Sold MPEL....
Added 50% more SOL.....today was a "pullback after a HUGE runup"
Portfolio is MRVL,PMCS,SOL,TLM......
AH NSM ER was a "beat & guide UP"...semis were perking UP in sympathy.....
For the most part Solar took a well deserved "breather"
Strong stocks were PALM,RIMM,TLM,ESLR,IPI,AGU,FXI,ISRG,BAC,X,ACH,FITB.....
AH Futures are RED.....
AH Gold ,OIL are mini red...
NIKKEI is UP.....
BLOG does NOT give buy or sell.
Saleem
Currently Market,interest rates are adjusting to an "improving economy".....
Oil is "the biggest indicator" of where the economy is heading.......
Asia is almost back to "normal growth"
Europe is "turning the page"
US picture is "muddied thanks to negative media"who will do many negative stories to get the ratings UP......
Any green close is a "sign of strength"
Downside in indices have been "muted" & will continue to be so......
Media IS giving you the impression as if we are "testing the lows on a daily basis"?????
In my portfolio :
Sold MPEL....
Added 50% more SOL.....today was a "pullback after a HUGE runup"
Portfolio is MRVL,PMCS,SOL,TLM......
AH NSM ER was a "beat & guide UP"...semis were perking UP in sympathy.....
For the most part Solar took a well deserved "breather"
Strong stocks were PALM,RIMM,TLM,ESLR,IPI,AGU,FXI,ISRG,BAC,X,ACH,FITB.....
AH Futures are RED.....
AH Gold ,OIL are mini red...
NIKKEI is UP.....
BLOG does NOT give buy or sell.
Saleem
Indices are Green....AGAIN....NICE !!!!
Markets are responding to improving economy worldwide.....Jobs situation in US has hit low point already.....
Green is the colour......
VIX @ 27.44 Down 3.58%
Gold Unchanged
OIL UP $1.01 @ $72.34
Canadian $ UP 77 tick against US$....
Portfolio MRVL,MPEL,PMCS,SOL,TLM......
Solar stocks are down repairing overbought technicals.....trend remains UP......
@ 11.51 following are green :
TLM,PALM,AAPL,RIMM,AGU,IPI,ESLR,
KGC,POT,CTRN,ICE,CCJ,IGT,NYX,ISRG,
GG,VAR,IBN,FXI,X,BAC....
BLOG does NOT give buy or sell.
Saleem
Green is the colour......
VIX @ 27.44 Down 3.58%
Gold Unchanged
OIL UP $1.01 @ $72.34
Canadian $ UP 77 tick against US$....
Portfolio MRVL,MPEL,PMCS,SOL,TLM......
Solar stocks are down repairing overbought technicals.....trend remains UP......
@ 11.51 following are green :
TLM,PALM,AAPL,RIMM,AGU,IPI,ESLR,
KGC,POT,CTRN,ICE,CCJ,IGT,NYX,ISRG,
GG,VAR,IBN,FXI,X,BAC....
BLOG does NOT give buy or sell.
Saleem
Wednesday, June 10, 2009
10 yr Treasury auction stalled rally today.....
Markets were rallying @ open then turned south on 10 yr rate jitters......Auction bid ratio was better than expected but rate had to be moved up to 3.99%.....10 yr rate closed @ 3.9360%..lower than auction.....which is a good thing.....
Oil is giving a clear signal that Asian economies are moving in the right direction......good for US & Europe recovery......
Media is in a frenzy that there is a horrendous issue with 10 yr & Thursday's 30 yr auction.....rates are already reflected the reality of coming recovery in US...so it is moving UP...which is a good sign....4.758% is the last bid..so if the auction is done @ 4.79% media will scream......
Market knows all these "concerns"...so why all the indices came back to less than .38% loss ????
All indices closed above 200 DMA AGAIN......
AH futures are all small green..not bad again ...considering media frenzy.....
VIX closed @ 28.46....UP only .67%......
Solar stocks are taking turns and going "skywards"...again sign of credit availability....
Strong stocks today were ESLR,STP,CSUN,SOL,STP,RIMM,POT,AGU,
FXI,ISRG,MA,X,NDN,ACH,FRO.....
BLOG does NOT give buy or sell.
Saleem
Oil is giving a clear signal that Asian economies are moving in the right direction......good for US & Europe recovery......
Media is in a frenzy that there is a horrendous issue with 10 yr & Thursday's 30 yr auction.....rates are already reflected the reality of coming recovery in US...so it is moving UP...which is a good sign....4.758% is the last bid..so if the auction is done @ 4.79% media will scream......
Market knows all these "concerns"...so why all the indices came back to less than .38% loss ????
All indices closed above 200 DMA AGAIN......
AH futures are all small green..not bad again ...considering media frenzy.....
VIX closed @ 28.46....UP only .67%......
Solar stocks are taking turns and going "skywards"...again sign of credit availability....
Strong stocks today were ESLR,STP,CSUN,SOL,STP,RIMM,POT,AGU,
FXI,ISRG,MA,X,NDN,ACH,FRO.....
BLOG does NOT give buy or sell.
Saleem
Market waiting for Fed report & 10 yr auction....
Markets are holding above 200 DMA for several days now....a major requirement for "text book technicians" who have been "very busy poking holes about this rally"
Oil is strong again...another"real time evidence"...that economy is perking along fine worldwide...
Markets are waiting for Fed report on economic activity & 10 yr bond auction...both expected to be taken as "positive"......
Gold Down $1.50
OIL UP $1.05 @ $71.06
Canadian $ Down 58 tick against US$..as export fell more than expected....
In my portfolio :
Tripled my position in SOL.....
Portfolio is MRVL,MPEL,PMCS,SOL,TLM....
@ 12.17 following are among green :
SOL,TLM,ESLR,STP,RIMM ( 2 upgrades & target increased),
POT,C,LULU,CCJ,MA,CMED,VLO,SPWRA,FSLR,ISRG,VAR,
IBN,AGU,FXI,NDN.
BLOG does NOT give buy or sell.
Saleem
Oil is strong again...another"real time evidence"...that economy is perking along fine worldwide...
Markets are waiting for Fed report on economic activity & 10 yr bond auction...both expected to be taken as "positive"......
Gold Down $1.50
OIL UP $1.05 @ $71.06
Canadian $ Down 58 tick against US$..as export fell more than expected....
In my portfolio :
Tripled my position in SOL.....
Portfolio is MRVL,MPEL,PMCS,SOL,TLM....
@ 12.17 following are among green :
SOL,TLM,ESLR,STP,RIMM ( 2 upgrades & target increased),
POT,C,LULU,CCJ,MA,CMED,VLO,SPWRA,FSLR,ISRG,VAR,
IBN,AGU,FXI,NDN.
BLOG does NOT give buy or sell.
Saleem
Tuesday, June 9, 2009
Nasdaq all set to march into higher grounds....NICE $$$
Nasdaq close today was another technical show of strength....it is ready to march into uncharted recent highs....
S&P clocked another green AGAIN.....
Dow gave a measly single point....but internals were strong with both advancing stocks in clear lead & UP volume led the way also....
New 52 wk highs were in lead AGAIN.....
VIX closed @ 28.27 Down 5.04% on a flattish day...NICE
AH Futures are in mini RED.....Open could be another story !!!!
AH SINA reported 1 cents beat..but guided lower in Sales ..Stock down $1.90....
Strong stocks included MRVL,PMCS,SOL,JASO,CSUN,AGU,POT,ISRG,
BIDU,MA,NVDA,PALM,WFR,LRCX,GRMN,X,AKS,STP....
Wednesday we have 10 yr bond auction....which will go well....should give a boost to the market..results announced in PM.....
BLOG does NOT give buy or sell.
Saleem
S&P clocked another green AGAIN.....
Dow gave a measly single point....but internals were strong with both advancing stocks in clear lead & UP volume led the way also....
New 52 wk highs were in lead AGAIN.....
VIX closed @ 28.27 Down 5.04% on a flattish day...NICE
AH Futures are in mini RED.....Open could be another story !!!!
AH SINA reported 1 cents beat..but guided lower in Sales ..Stock down $1.90....
Strong stocks included MRVL,PMCS,SOL,JASO,CSUN,AGU,POT,ISRG,
BIDU,MA,NVDA,PALM,WFR,LRCX,GRMN,X,AKS,STP....
Wednesday we have 10 yr bond auction....which will go well....should give a boost to the market..results announced in PM.....
BLOG does NOT give buy or sell.
Saleem
Nasdaq GREEN.....NICE $$$$
Markets are in a holding pattern with Nasdaq staying GREEN.....
As usual close will decide the day...trend is UP......
GS is telling client to "sell US$ and buy Euro" putting further pressure in US$ on the downside.....
Gold UP $2.70
OIL UP $1.22
Canadian $ UP 1.01 cent against US$......getting closer to its recent high...NICE $$$$
Portfolio is MRVL ( upgraded with a target of $15),MPEL,PMCS,SOL,TLM.....
@ 12.12 following stocks are among green :
MRVL,SOL,PMCS,TLM,AGU,STP,JASO,CSUN,POT,
CTRN,ICE,LULU,CCJ,JRCC,EGLE,NYX,SPWRA,ISRG,
VAR,FWLT,NVDA.
BLOG does NOT give buy or sell.
Saleem
As usual close will decide the day...trend is UP......
GS is telling client to "sell US$ and buy Euro" putting further pressure in US$ on the downside.....
Gold UP $2.70
OIL UP $1.22
Canadian $ UP 1.01 cent against US$......getting closer to its recent high...NICE $$$$
Portfolio is MRVL ( upgraded with a target of $15),MPEL,PMCS,SOL,TLM.....
@ 12.12 following stocks are among green :
MRVL,SOL,PMCS,TLM,AGU,STP,JASO,CSUN,POT,
CTRN,ICE,LULU,CCJ,JRCC,EGLE,NYX,SPWRA,ISRG,
VAR,FWLT,NVDA.
BLOG does NOT give buy or sell.
Saleem
Monday, June 8, 2009
Buyers stepped in AGAIN.....NICE !!!!
Markets were reacting to 10 yr bond related issues...including upcoming auction....which will be a non-event.....
Media needs to bring new villain out to predict pullbacks on a daily basis...BUT...there is NO pullback by close.....
Markets are staying near recent highs .....all indices are staying ABOVE 200 DMA.....
Technical strength is stunning...BUT traders are SCARED???
Traders are anxiously waiting for pullback to "reload"...it MAY be a long wait.....
The only corrective situation which MAY develop COULD be in early JULY...after we have RUNUP quite a bit by end of June ......
AH TXN guided UP so all the semis are perking UP....
AH Futures are lit UP green.....
AH Oil,Gold & Canadian $ are UP.....
There were 5 to 9 times more new 52 wk highs than lows.....
Volume was low today.......
BLOG does NOT give buy or sell.
Saleem
Media needs to bring new villain out to predict pullbacks on a daily basis...BUT...there is NO pullback by close.....
Markets are staying near recent highs .....all indices are staying ABOVE 200 DMA.....
Technical strength is stunning...BUT traders are SCARED???
Traders are anxiously waiting for pullback to "reload"...it MAY be a long wait.....
The only corrective situation which MAY develop COULD be in early JULY...after we have RUNUP quite a bit by end of June ......
AH TXN guided UP so all the semis are perking UP....
AH Futures are lit UP green.....
AH Oil,Gold & Canadian $ are UP.....
There were 5 to 9 times more new 52 wk highs than lows.....
Volume was low today.......
BLOG does NOT give buy or sell.
Saleem
Fear of 10yr bond yield putting pressure on markets....
Markets are under pressure as 10 year bond yield are hovering near 4%.....higher interest rates will hamper housing recovery and may give competition to stock market as an investment choice.
Markets will digest this bond yield pressure also..as long term stocks will beat treasury yields....smart money knows that......
Gold Down $11.80 to $949.90 near support area...
Oil Down 6 cents @ $68.41..near highs....
Canadian $ Down 35 tick against US$.....
Portfolio is MRVL,MPEL,PMCS,SOL,TLM.
@ 12.15 following are green :
SOL,V,C,ICE,NDN.....
BLOG does NOT give buy or sell.
Saleem
Markets will digest this bond yield pressure also..as long term stocks will beat treasury yields....smart money knows that......
Gold Down $11.80 to $949.90 near support area...
Oil Down 6 cents @ $68.41..near highs....
Canadian $ Down 35 tick against US$.....
Portfolio is MRVL,MPEL,PMCS,SOL,TLM.
@ 12.15 following are green :
SOL,V,C,ICE,NDN.....
BLOG does NOT give buy or sell.
Saleem
Sunday, June 7, 2009
Are we all set for S&P 500 @ 1000.....YES !!!!
Markets are following a perfect "bull mode" pattern......3 step UP 1 step DOWN since March lows......
Sector rotation are in full force......
Laggards in each sector also getting "pulse" as part of rotation.....
S&P 500,Dow & Nasdaq all are above 200 DMA......
Nasdaq has just made a "golden cross"....a technical blowout scenario......
All of the above will easily take us into 1000 in S&P 500......
June has a chance of being the strongest June "on record".....
2nd Q window dressing will start NOW and will NOT end until June is over......
Fundamentals of economy is improving in a hurry..more data in coming weeks will further solidify that "economy IS turning UP"
Nasdaq 2000 will be here in June also.....
Dow 9500 also in the cards for end of June ....
So we are looking @ POTENTIAL gain of 6.4% in S&P 500,8.2% gain in Nasdaq & maybe gain of 8.4% in Dow......not bad % gain for next 17 trading days..it surely beats .25% annual interest rate in Money Market funds......where trillions are parked still???
While indices MAY average 7.4% POTENTIAL gain by end of June...many stocks will go "ballistic" on this move UP.......
Most stocks are rated for "breakout" by www.stockconsultant.com .....a sure sign of strong tape $$$
RSI also will ascend upwards with higher markets.....so it will be OK to play high beta/high RSI stocks till end of June.......
Many old momentum stocks are leading the charge now...BIDU,GOOG,AAPL,RIMM,GS are on the move......this proves that there is tremendous momentum in the market......
Many technicians have "eaten crow lately" as they under estimated the power of markets moving UP with improving fundamentals as we have firmly passed the low point in economy....
Fundamental driven analysts & traders have done well in this market since March...because they can see clearly why markets should be much higher as we go forward......as they have conviction in the power of worldwide "stimulus"......
Fast Money & Art Cashin has been the "disaster" in predicting stock prices or market movement....as they were locking 10 cents gains with protection factored IN.....
Jim Cramer certainly has proven this time that he is a "good fundamental trader" and NOT changing his mind every 10 minutes.......he has shown "conviction"in this market TAPE....good for him & his NEW & IMPROVED FA based analysis...YES..it is profitable to follow his ideas......we certainly needed somebody on CNBC to read this market accurately & JC is the lonely one on CNBC......
So get your pen/pencil/pc/smartphones working for you to show gains in your portfolio in June 09........homework has done it for me and hopefully will do it for you.....Here is some ideas based on my portfolio & other stocks...all based on RSI :
MRVL...53.86
MPEL...54.15
PMCS...55.54
SOL....76.25
TLM...57.37
AAPL..74.66
RIMM.66.67
BIDU..79.01
GOOG.78.55
GS....65.37
V.....63.64
SPWRA63.11
FSLR..51.76
You can come up with the same analysis for stocks of your interest & knowledge......
Know your stocks well about its fundamentals & technical pattern.....once you do that ..it will give you conviction & high comfort level.
Please ensure diversification in many sectors & be comfortable with your exposure as markets DO go DOWN on a frequent basis.....
TREND is UP $$$$
BLOG does NOT give buy or sell.
Saleem
Sector rotation are in full force......
Laggards in each sector also getting "pulse" as part of rotation.....
S&P 500,Dow & Nasdaq all are above 200 DMA......
Nasdaq has just made a "golden cross"....a technical blowout scenario......
All of the above will easily take us into 1000 in S&P 500......
June has a chance of being the strongest June "on record".....
2nd Q window dressing will start NOW and will NOT end until June is over......
Fundamentals of economy is improving in a hurry..more data in coming weeks will further solidify that "economy IS turning UP"
Nasdaq 2000 will be here in June also.....
Dow 9500 also in the cards for end of June ....
So we are looking @ POTENTIAL gain of 6.4% in S&P 500,8.2% gain in Nasdaq & maybe gain of 8.4% in Dow......not bad % gain for next 17 trading days..it surely beats .25% annual interest rate in Money Market funds......where trillions are parked still???
While indices MAY average 7.4% POTENTIAL gain by end of June...many stocks will go "ballistic" on this move UP.......
Most stocks are rated for "breakout" by www.stockconsultant.com .....a sure sign of strong tape $$$
RSI also will ascend upwards with higher markets.....so it will be OK to play high beta/high RSI stocks till end of June.......
Many old momentum stocks are leading the charge now...BIDU,GOOG,AAPL,RIMM,GS are on the move......this proves that there is tremendous momentum in the market......
Many technicians have "eaten crow lately" as they under estimated the power of markets moving UP with improving fundamentals as we have firmly passed the low point in economy....
Fundamental driven analysts & traders have done well in this market since March...because they can see clearly why markets should be much higher as we go forward......as they have conviction in the power of worldwide "stimulus"......
Fast Money & Art Cashin has been the "disaster" in predicting stock prices or market movement....as they were locking 10 cents gains with protection factored IN.....
Jim Cramer certainly has proven this time that he is a "good fundamental trader" and NOT changing his mind every 10 minutes.......he has shown "conviction"in this market TAPE....good for him & his NEW & IMPROVED FA based analysis...YES..it is profitable to follow his ideas......we certainly needed somebody on CNBC to read this market accurately & JC is the lonely one on CNBC......
So get your pen/pencil/pc/smartphones working for you to show gains in your portfolio in June 09........homework has done it for me and hopefully will do it for you.....Here is some ideas based on my portfolio & other stocks...all based on RSI :
MRVL...53.86
MPEL...54.15
PMCS...55.54
SOL....76.25
TLM...57.37
AAPL..74.66
RIMM.66.67
BIDU..79.01
GOOG.78.55
GS....65.37
V.....63.64
SPWRA63.11
FSLR..51.76
You can come up with the same analysis for stocks of your interest & knowledge......
Know your stocks well about its fundamentals & technical pattern.....once you do that ..it will give you conviction & high comfort level.
Please ensure diversification in many sectors & be comfortable with your exposure as markets DO go DOWN on a frequent basis.....
TREND is UP $$$$
BLOG does NOT give buy or sell.
Saleem
Saturday, June 6, 2009
BUY rated stocks for "an ascending markets"!!!
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
SOL,AMTD,CSUN,ARAY,ICOC,DXPE,SCS,JOSB,NVDA,
OSTK,SOLF,TRMB,BID,CHN,LFT,MAR,NCR,STP,WYN,
COT,CLS,FLIR,SYMC,BZH,PHM,SY.
Next post by 10AM Sunday.
BLOG does NOT give buy or sell.
Saleem
SOL,AMTD,CSUN,ARAY,ICOC,DXPE,SCS,JOSB,NVDA,
OSTK,SOLF,TRMB,BID,CHN,LFT,MAR,NCR,STP,WYN,
COT,CLS,FLIR,SYMC,BZH,PHM,SY.
Next post by 10AM Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, June 5, 2009
Constructive close in Indices.....
Market has rallied for a long time & are trading @ their highs......so profit taking was in vogue today ahead of the weekend......
Despite profit taking..which IS wise to do...market did NOT budge..closing near where it opened...
Pay attention to the tape..which is strong......
US$ gave a beating to Gold down $19.60 & Canadian $ which was down 1.80 cent ......Oil was Down 43 cents...
There is rotation going on within the sector so go for stocks which have not moved.....in a diversified mode.....
Strong stocks included BIDU,GOOG,SOL,SPWRA,AMZN,AAPL,SOHU,X....
By 10AM Saturday ..I will list buy rated stocks.
BLOG does NOT give buy or sell.
PS...Post was delayed due to visitors.
Saleem
Despite profit taking..which IS wise to do...market did NOT budge..closing near where it opened...
Pay attention to the tape..which is strong......
US$ gave a beating to Gold down $19.60 & Canadian $ which was down 1.80 cent ......Oil was Down 43 cents...
There is rotation going on within the sector so go for stocks which have not moved.....in a diversified mode.....
Strong stocks included BIDU,GOOG,SOL,SPWRA,AMZN,AAPL,SOHU,X....
By 10AM Saturday ..I will list buy rated stocks.
BLOG does NOT give buy or sell.
PS...Post was delayed due to visitors.
Saleem
Indices are green......
Markets are fighting profit taking by staying in green.....
All indices went into new recent highs today..with Dow showing strength....
Jobs report came better than expected but GS yesterday gave an advanced peek into it..so it was already priced in......
Markets will work its way higher......
Gold Down $23
Oil UP 12 cents
Canadian $ is down 1.26 against US$....as US$ is strong after better than expected jobs report.
In my portfolio :
Bought SOL...as part of my speculative play.....
Portfolio is MRVL,MPEL,PMCS,SOL,TLM......
@ 12.20 following are strong :
PMCS,SOL,AMZN,AMTD,BIDU,RIMM,V,TKC,
SOHU,SPWRA,IBN,FWLT.
BLOG does NOT give buy or sell.
Saleem
All indices went into new recent highs today..with Dow showing strength....
Jobs report came better than expected but GS yesterday gave an advanced peek into it..so it was already priced in......
Markets will work its way higher......
Gold Down $23
Oil UP 12 cents
Canadian $ is down 1.26 against US$....as US$ is strong after better than expected jobs report.
In my portfolio :
Bought SOL...as part of my speculative play.....
Portfolio is MRVL,MPEL,PMCS,SOL,TLM......
@ 12.20 following are strong :
PMCS,SOL,AMZN,AMTD,BIDU,RIMM,V,TKC,
SOHU,SPWRA,IBN,FWLT.
BLOG does NOT give buy or sell.
Saleem
Thursday, June 4, 2009
Dow,S&P 500 & Nasdaq all well above 200 DMA...NICE !!
Dow joined Nasdaq & S&P 500 by closing well above 200 DMA.....this is extremely bullish for more UP move in Markets......
Nasdaq is ready to make a golden cross( 50DMA above 200 DMA) which is only 5.92 points away...Friday is the day???
Oil bullish move to new high today is great for commodities......
Today was a complete reversal of commodities.....
Since March lows the ONLY consistent skeptic of any data or market moves remains no other than Art Cashin of UBS..who has been calling DAILY for retest of lows or imminent selling based on his unique talent for finding negative in every report/market tape...yesterday he claimed that we had more new 52 weeks lows..as his new & improved thesis???
Can someone please tell Art Cashin that we have rallied 46.2% since March...& he is counting 3 new 52 wk lows????
Market has given a new confirmation today that "indulging in some speculation is OK now"...
AH Futures are green.....
Oil is green...
PS...Canadian $ gained 1 full cent against US$ today...NICE $$$$
Markets will make jobs report a non-event......as there is tremendous momentum in market tape.....
GS made a bold call on Oil going to $85 by the end of this year $90 in next 12 months & $95 by the end of 2010.....this will fuel fire in commodities laden stocks......
BLOG does NOT give buy or sell.
Saleem
Nasdaq is ready to make a golden cross( 50DMA above 200 DMA) which is only 5.92 points away...Friday is the day???
Oil bullish move to new high today is great for commodities......
Today was a complete reversal of commodities.....
Since March lows the ONLY consistent skeptic of any data or market moves remains no other than Art Cashin of UBS..who has been calling DAILY for retest of lows or imminent selling based on his unique talent for finding negative in every report/market tape...yesterday he claimed that we had more new 52 weeks lows..as his new & improved thesis???
Can someone please tell Art Cashin that we have rallied 46.2% since March...& he is counting 3 new 52 wk lows????
Market has given a new confirmation today that "indulging in some speculation is OK now"...
AH Futures are green.....
Oil is green...
PS...Canadian $ gained 1 full cent against US$ today...NICE $$$$
Markets will make jobs report a non-event......as there is tremendous momentum in market tape.....
GS made a bold call on Oil going to $85 by the end of this year $90 in next 12 months & $95 by the end of 2010.....this will fuel fire in commodities laden stocks......
BLOG does NOT give buy or sell.
Saleem
All Indices are green......
Markets are in green..despite many traders are bearish which includes Doug Kass and majority of Fast "lose" Money experts......
Gold UP $12.90
Oil UP $2.37..Fast "lose" Money expert Joe Terranova is predicting $60 oil & is Short..Last trade $68.49.....
Canadian $ UP 44 tick against US$ after being down over 2 cent yesterday.....
My portfolio is MRVL,MPEL,PMCS,TLM.....
@ 12.10 following stocks are strong :
TLM,MRVL,MPEL,PALM,STP,IPI,AGU,AAPL,
CCJ,IBN,POT,CMED,GS,MA,V,BIDU,GOOG,
SINA,ICE,ABX,SPWRA,FSLR,FWLT.
BLOG does NOT give buy or sell.
Saleem
Gold UP $12.90
Oil UP $2.37..Fast "lose" Money expert Joe Terranova is predicting $60 oil & is Short..Last trade $68.49.....
Canadian $ UP 44 tick against US$ after being down over 2 cent yesterday.....
My portfolio is MRVL,MPEL,PMCS,TLM.....
@ 12.10 following stocks are strong :
TLM,MRVL,MPEL,PALM,STP,IPI,AGU,AAPL,
CCJ,IBN,POT,CMED,GS,MA,V,BIDU,GOOG,
SINA,ICE,ABX,SPWRA,FSLR,FWLT.
BLOG does NOT give buy or sell.
Saleem
Wednesday, June 3, 2009
Indices gave up .59% to 1.37%....
So we had a pullback today after making recent highs......
Again there were buyers waiting to buy on any dip...so we pared back most of the loss....
Today US$ staged an oversold bounce..so all commodities sold off...
We are staying above 200 DMA in Nasdaq & S&P 500......Dow is only 61.05 points away.... after opening above 200DMA.....
Please do NOT buy the LIES on CNBC that S&P 500 went way below 200 DMA today..S&P 500 200 DMA is 923.31..we did not went there even @ low of the day which was 923.85 and we closed @ 931.76.....I wish SEC prosecute those who spread lies on national TV & are allowed to say anything on CNBC with impunity...CNBC lacks credibility.....
AH Futures S&P 500 & Nasdaq are small green......
Volume was average on this mini correction.....
Markets are ready to resume its green close......so position accordingly !!!!
BLOG does NOT give buy or sell.
Saleem
Again there were buyers waiting to buy on any dip...so we pared back most of the loss....
Today US$ staged an oversold bounce..so all commodities sold off...
We are staying above 200 DMA in Nasdaq & S&P 500......Dow is only 61.05 points away.... after opening above 200DMA.....
Please do NOT buy the LIES on CNBC that S&P 500 went way below 200 DMA today..S&P 500 200 DMA is 923.31..we did not went there even @ low of the day which was 923.85 and we closed @ 931.76.....I wish SEC prosecute those who spread lies on national TV & are allowed to say anything on CNBC with impunity...CNBC lacks credibility.....
AH Futures S&P 500 & Nasdaq are small green......
Volume was average on this mini correction.....
Markets are ready to resume its green close......so position accordingly !!!!
BLOG does NOT give buy or sell.
Saleem
1.52% giveback in S&P 500......
Markets are going through digestive phase of huge gain in Indices.....
S&P 500 is the weakest while Nasdaq is behaving the-best with loss of around .85%.....
Jobs data & factory numbers were the EXCUSE for this pullback.....
Pullbacks are not only necessary but very healthy..as we move towards higher highs.....
Pullback gives you to add or buy stocks on sale...these corrections are extremely short lived.....
Gold Down $7.00
Oil down $2.13
Canadian $ down 1.3 cents against US$.....
In my portfolio :
Added 50% more TLM.....
Portfolio is MRVL,MPEL,PMCS,TLM.....
@ 12.10 following are GREEN :
AAPL,AMZN,SINA,V,BIDU,SNDA,GOOG,AMTD.
BLOG does NOT give buy or sell.
Saleem
S&P 500 is the weakest while Nasdaq is behaving the-best with loss of around .85%.....
Jobs data & factory numbers were the EXCUSE for this pullback.....
Pullbacks are not only necessary but very healthy..as we move towards higher highs.....
Pullback gives you to add or buy stocks on sale...these corrections are extremely short lived.....
Gold Down $7.00
Oil down $2.13
Canadian $ down 1.3 cents against US$.....
In my portfolio :
Added 50% more TLM.....
Portfolio is MRVL,MPEL,PMCS,TLM.....
@ 12.10 following are GREEN :
AAPL,AMZN,SINA,V,BIDU,SNDA,GOOG,AMTD.
BLOG does NOT give buy or sell.
Saleem
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