Indices are following a "predictable pattern of sideways movement for being @ nine month HIGH"
We needed to stay @ nine month high level for 3 days in a holding pattern....this allowed naysayers to get out while "smart money was buying in every weak open"
I am extremely impressed with market TAPE.....9 month high & NO pullback by close for 3 days......
SO...it pays to "listen to the message of the market"
Never fight the TAPE......
Oil is getting clobbered down $3.84 to $63.39
Gold Down $12.....
Canadian $ Down 44 tick..in sympathy with Oil.....
All European markets closed UP today DAX UP 1.87%...while "super-computers were on a sell mode in US..FLASH trading is LEGAL"
Portfolio is GNK(reports @ 4.00 CC Thursday AM),IPI,SOL,RIMM,TLM(reported 6 cents EPS vs consensus of 7 cents)
@ 12.15 following are green in my watch list :
EGO,C,ICE,NDAQ,FSLR,ISRG,SNE,VAR.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Saleem and all!
A fond hello.!!
Market seems to want ot bust out! J. the Cramer says look out below as we are dropping a leat 5%. Well wrong Mr. Cramer!
Good luck -- to all
Hi Madmax,
It IS alway's about close.....no different today.....
Cramer has been saying sell PALM & avoid RIMM but ...they are not listening to him on this REPEATED call on a daily basis....i guess him & his buddies must be short to try this hard????
Saleem
Hi All,
I am skeptical, I believe the traders have bought up a lot of puts and are going to sell off the market to collect.
Best Regards
Hi Standards,
Market "sometimes does NOT accomodate bearish bets"
Actually "bearish sentiments & put buying propels the market much HIGHER"
I have seen this kind of "loud...market will go down many times before & has NOT worked"
So what is keeping the market from 5% drop????
Saleem
Hi Saleem,
yes I saw the European markets looked tame last night, but the Asian markets sold off quickly. Real quick.
Hopefully we won't see a continuance here.
Best Regards
Hi Standards,
I always look @ TAPE closely...IF it weakens then...I will accept the verdict.....currently it is staying strong ...9000 area is a solid support.....
Cramer told markets to go DOWN 5% ...2 days ago BUT market IS ignoring him..he has an audience of several millions traders who WORSHIP him & follow his daily "evangelical SERMONS"
IF market CAN ignore the "biggest pundit who ever lived"...then we must follow the TAPE $$$$
Saleem
Saleem
In this market the last few days you really gotta have cconviction.
As is is so hard to take all the negative talk and then hold your stock accordingly
wow a tough thing to do
Standards the swings in GE could make you some covered call money$$$
Regards to all
Hi Madmax,
In investing or trading...one has to RELY on basic RULES.....
Some take a long term view....
Some look @ short term indicators...
Some simply daytrade.....
SO.. IF you are a "long term investor" then you should turn CNBC off and do other interesting things...this way your confidence is not affected by "manipulators"
CNBC is NOISE...which does NO GOOD to anyones "investing/trading Psyche"
Just my 2 cents...
Saleem
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