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 $$$$
Lot of hedge funds who are NOT fully invested love to inject FEAR through their proxies on CNBC....but it is NOT working as there are many buyers buying the dip and putting their parked money to work......
Next 6 trading days for the month & Q2 will produce fireworks on the BUY side.....
899.30 is "golden cross number in S&P 500 "...great technical BUY signal....
RSI is 41.89 in S&P 500...an oversold reading.......
Gold UP $1.70
Oil UP 34 cents
Canadian $ is UP 10 tick so far against US$......
Portfolio is MRVL,PMCS,SOL,TLM.....
@ 12.20 following are strong :
IPI,RIMM,PALM,KGC,SINA,V,POT,BRCD,CCJ,
MA,ABX,GG,SNE,GS,AGU......
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Just got back from D.C.,,,,traffic was horrid,,,no gas shortage or conservation in that city. It was everyman for himself! Drive, Drive, Drive! Makes me wonder if anyone really cares....So what's new in the market? Looks like we need some buying again. Maybe the summer slump is here, best to pick your winner now for the fall rally.
Best Regards
Hi Standards,
Welcome back to ATL.....
DC live in their own world..as they are the-world.....
GNK closed @ $20.55....
EGLE closed @ $4.51....
DRYS closed @ $5.45.....
That tells the story about the change in direction....or oversold...
Solar also corrected big-time..also oversold.....
RIMM AAPL corrected..oversold
Of course it IS a buy buy buy $$$$
Saleem
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