All indices closing in Green.....
Highest close for Dow & S&P 500....
RSI are as follows in Indices :
Dow 72.00
Nasdaq 73.14
S&P 500 72.26
Mad Money is predicting a pullback of only 3% to 5%.....these % do NOT qualify as correction..these % pullback are routine to mark time for another leg UP....Every day there IS a pullback of 3% or more in 1000 of stocks...so where is this UNUSUAL event coming from???
This IS a major bull market in the making...staying out will result in major missed opportunity...stay diversified in many sectors..which normally checks some of the downside on a daily basis..correction or no correction......
As it is a new bull market ....I do NOT know where will be the next correction which is defined as close to 10% pullback.....there is a chance that we MAY get rotating corrections in sectors/stocks..which is happening on a daily basis since March LOWS......
AH TSL announced a shelf offering of 4.6 million shares which is a dilution of 15.56% on a current TOS of 29.58 million shares...stocks normally trades close to pricing of these offerings..like STP & then moves sharply UP....Pricing is not announced yet...but it is normally done @ discount ...
AH Futures are small RED....
AH Nikkei is down .22%
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hello Saleem,
I am more of a reader than a poster....so here goes my first post.
I appreciate you having this blog and the input of your guests.
I noticed, besides IPI, you do not tend to get into basic materials. Is it because you dont follow stocks in this sector or you dont play commodities?
Hi Speed,
Thanks for being a visitor to my BLOG & now a participant.
Shipping,Ag,Gold,Oil,Siver,Techs is what i know & have followed for a long time....
I have to know what I am buying & why.....that takes lot of studying..
Anytime I have not done an in-depth study...I lost money.....
Saleem
Myself, on the other hand studies mostly commodities but I do dabble into financials.
Stocks I like and own include TCK, CLF, TC.
My dividend stocks are MWE and WPZ.
I also own GNK.
My big gamble stock is AIB.
Canadian banks are a main stay in my account.
Cheers,
Speed
Hi Saleem,
Overseas markets slight bullish movement. BDI +64 3407
We're still moving up ever so slightly. Plenty of shorts hanging around.
Best Regards
Hi Standards,
This market is far from overbought...
Low volume buying is going on which should sustain this rally.
BDI should explode UPwards !!!
Saleem
Hi Speed,
Thanks for your listing your current portfolio...
It is always good to be an expert in few sectors....
We are all different type of investor/trader....
I am a swing trader but feeling much more comfortable with market..as there are many bears still out there...once they give up..then time to sell....
Saleem
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