Indices again proved the skeptics WRONG......by rallying into close erasing modest loss into barely red....
This much talked about correction is going to finish careers of many "so-called experts/know it all" on wall street......It gets very boring being WRONG more than 100 times on "live television"
There was an interesting debate on the health of current market between "political" Carter Worth & "outspoken" Joe Granville......Carter Worth was chewing his bearish take & Joe Granville saying "straight UP for two years"...
AH Credit Suisse Upgraded RIMM to outperform stock UP 97 cents on AH volume of 197,924...
AH SINA reported in-line EPS & guiding LOWER Sales for Q3....AH unchanged on AH volume of 84,913......
AH Futures are GREEN.....
AH Nikkei Down .31%
BLOG does NOT give buy or sell.
Saleem
Monday, August 31, 2009
Shanghai Casino Down 6.7% & S&P 500 Down 1.14%...NICE !!!!
Well Shanghai Casino did it again collapsed 6.74%......as Chinese Banks were told to increase Bank reserves to cut down inflationary effect in economy...thus Bank lending was down.....No news there as it was known that banks were told to cut down on lending.....
Have you noticed lately that European exchange do NOT panic with Shanghai freefall..both DAX & CAC is down 1.07%...FTSE is closed today.....
Japan not only has a new party in power but their Industrial production was UP 1.9%...
Canada June GDP grew by .10%...first positive number in a long long time....
India reported their GDP grew by 6.1%........
All this overnight news does NOT look Bearish to me @ all......
So..be careful when you follow pundits who do NOT know ..."which end is UP"
Gold Down $9.50
Oil Down $3.29 to $69.45...back to support....
Canadian $ Down 41 tick...in sympathy to Oil being Down.....
My portfolio is POT,SOL,RIMM.....
@ 12.13 following are green in my watch list :
NTES,FMCN,NDAQ,VAR,AMTD,V.....
SINA reports AH......
BLOG does NOT give buy or sell.
Saleem
Have you noticed lately that European exchange do NOT panic with Shanghai freefall..both DAX & CAC is down 1.07%...FTSE is closed today.....
Japan not only has a new party in power but their Industrial production was UP 1.9%...
Canada June GDP grew by .10%...first positive number in a long long time....
India reported their GDP grew by 6.1%........
All this overnight news does NOT look Bearish to me @ all......
So..be careful when you follow pundits who do NOT know ..."which end is UP"
Gold Down $9.50
Oil Down $3.29 to $69.45...back to support....
Canadian $ Down 41 tick...in sympathy to Oil being Down.....
My portfolio is POT,SOL,RIMM.....
@ 12.13 following are green in my watch list :
NTES,FMCN,NDAQ,VAR,AMTD,V.....
SINA reports AH......
BLOG does NOT give buy or sell.
Saleem
Sunday, August 30, 2009
Market remains in UPTREND.........
Markets are giving a clear sign that UPTREND is in tact.....no matter how many BEARS are shouting for a "major pullback"
We have witnessed an army of BEARS come on CNBC and declare the "end of this bull run" for months now...I cannot believe that they have the guts to come on CNBC after being 200% WRONG for months......
Why 200% WRONG..because they are saying that we ARE going DOWN..BUT we keep going UP..so you lose on 100% on short & miss 100% on NOT being a bull......a double edge sword IF you Follow Art non-Cashin,Robert Prechter,Doug Kass,Cliggott,Adami and thousands more..who were 100% sure we go down several thousand Dow points AGO......
There is a simple REASON..why we are NOT going Down & keep going UP......when there are so many people BEARISH for so long & old Bulls have sold out based on daily commentary that we go down this week.....so there is horde of traders who have turned bearish on barrage of bearish call.....
Most technicians I follow......are scared of this bull RUN and are trying very hard to "talk this market DOWN"
Most important one is Carter Worth from Oppenheimer..who has been fighting this uptrend since 950 in S&P 500......
Let us look @ RSI in major indices after Friday's close :
S&P 500 66.30
Nasdaq 63.33
Dow 66.92
These numbers are "fair valuation" for any bull market..so we have room to go to high 70 with time...previously we did go to 76+ in all indices...so it is NOT unreasonable to expect to touch 80 in "blowoff" period which MAY be straight ahead from 3rd week of September...
It IS also interesting to note that we HIT 09 HIGHS on Friday in S&P 500 & Nasdaq intraday..Dow also came close to hitting 09 high but missed by fraction.......
Volume on Thursday & Friday was Higher than recent average...which is also a very reliable technical indicator....Volume + new 09 high......means better things to come.....
YES...next 2 weeks MAY be low volume due to holidays..BUT we MAY work HIGHER in Indices to 09 HIGHS......
I have seen these patterns many times in the past...that we keep building this market HIGHER because of too many bearish bets.....
Bears have been too-early.....and will get burned real bad......
NOBODY has the "intelligence or financial muscle to tell markets what to do"...many have tried in the past but all of them have failed......same will happen NOW.....
Some were LUCKY to catch the trend for part of the way..but then they lose it all by getting carried away......Robert Prechter comes to mind who called for crash in 1987 but kept making more bearish calls to Dow 400..we only went to 1700 area..so he missed it by 1300 points which IS a miss of 76.5%.......
Even when i look @ RSI of many stocks, it gives me the impression that this market is "far from frothy"..and I simply fail to see where bears are getting their facts......TA is a science and it is easy to see IF we are in "dangerous territory"...which we are NOT........
Bears & followers of bears must not mistake normal pullbacks of 3% to 5% as any indicator of change in trend.....severe pullback are of 9% magnitude......Since July we have NOT had any pullbacks of more than 2% intraday......so a pullback of 3% CAN be absorbed in this bull run anytime.....
So here is the RSI of leading stocks as of Friday and you be the Judge if BEARS have any leg to stand ON :
AAPL...64.59
RIMM..48.38
GS.....56.59
GE.....58.35
AGU....57.49
POT....42.25
TSL....53.30
SOL....54.99
Above RSI numbers are telling me that all of the above are "great buys"...numbers do not lie...but bears DO.....
Yes...it is important to keep an eye on RSI in both indices & individual stocks...80+ is overbought...but we are far from it.......
Good luck with your OWN analysis & comfort level with "cross current of markets"..nothing goes UP in straight line but RSI is a fairly reliable guide to frothiness.....
BLOG does NOT give buy or sell.
Saleem
We have witnessed an army of BEARS come on CNBC and declare the "end of this bull run" for months now...I cannot believe that they have the guts to come on CNBC after being 200% WRONG for months......
Why 200% WRONG..because they are saying that we ARE going DOWN..BUT we keep going UP..so you lose on 100% on short & miss 100% on NOT being a bull......a double edge sword IF you Follow Art non-Cashin,Robert Prechter,Doug Kass,Cliggott,Adami and thousands more..who were 100% sure we go down several thousand Dow points AGO......
There is a simple REASON..why we are NOT going Down & keep going UP......when there are so many people BEARISH for so long & old Bulls have sold out based on daily commentary that we go down this week.....so there is horde of traders who have turned bearish on barrage of bearish call.....
Most technicians I follow......are scared of this bull RUN and are trying very hard to "talk this market DOWN"
Most important one is Carter Worth from Oppenheimer..who has been fighting this uptrend since 950 in S&P 500......
Let us look @ RSI in major indices after Friday's close :
S&P 500 66.30
Nasdaq 63.33
Dow 66.92
These numbers are "fair valuation" for any bull market..so we have room to go to high 70 with time...previously we did go to 76+ in all indices...so it is NOT unreasonable to expect to touch 80 in "blowoff" period which MAY be straight ahead from 3rd week of September...
It IS also interesting to note that we HIT 09 HIGHS on Friday in S&P 500 & Nasdaq intraday..Dow also came close to hitting 09 high but missed by fraction.......
Volume on Thursday & Friday was Higher than recent average...which is also a very reliable technical indicator....Volume + new 09 high......means better things to come.....
YES...next 2 weeks MAY be low volume due to holidays..BUT we MAY work HIGHER in Indices to 09 HIGHS......
I have seen these patterns many times in the past...that we keep building this market HIGHER because of too many bearish bets.....
Bears have been too-early.....and will get burned real bad......
NOBODY has the "intelligence or financial muscle to tell markets what to do"...many have tried in the past but all of them have failed......same will happen NOW.....
Some were LUCKY to catch the trend for part of the way..but then they lose it all by getting carried away......Robert Prechter comes to mind who called for crash in 1987 but kept making more bearish calls to Dow 400..we only went to 1700 area..so he missed it by 1300 points which IS a miss of 76.5%.......
Even when i look @ RSI of many stocks, it gives me the impression that this market is "far from frothy"..and I simply fail to see where bears are getting their facts......TA is a science and it is easy to see IF we are in "dangerous territory"...which we are NOT........
Bears & followers of bears must not mistake normal pullbacks of 3% to 5% as any indicator of change in trend.....severe pullback are of 9% magnitude......Since July we have NOT had any pullbacks of more than 2% intraday......so a pullback of 3% CAN be absorbed in this bull run anytime.....
So here is the RSI of leading stocks as of Friday and you be the Judge if BEARS have any leg to stand ON :
AAPL...64.59
RIMM..48.38
GS.....56.59
GE.....58.35
AGU....57.49
POT....42.25
TSL....53.30
SOL....54.99
Above RSI numbers are telling me that all of the above are "great buys"...numbers do not lie...but bears DO.....
Yes...it is important to keep an eye on RSI in both indices & individual stocks...80+ is overbought...but we are far from it.......
Good luck with your OWN analysis & comfort level with "cross current of markets"..nothing goes UP in straight line but RSI is a fairly reliable guide to frothiness.....
BLOG does NOT give buy or sell.
Saleem
Saturday, August 29, 2009
Buy rated stocks for low volume week......
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
SOL,ECA,AUY,SLW,SBLK,HL,SNDK,MU,CHU,
AAPL,ALTR,ATML,CIEN,EXPE,NTGR,NVLS,
XLNX,LSI,NSM,TSM,BRCM,FFIV,AMCC,ELX,
FL,IAG,KGC.
Next post Sunday by 10 AM.
BLOG does NOT give buy or sell.
Saleem
SOL,ECA,AUY,SLW,SBLK,HL,SNDK,MU,CHU,
AAPL,ALTR,ATML,CIEN,EXPE,NTGR,NVLS,
XLNX,LSI,NSM,TSM,BRCM,FFIV,AMCC,ELX,
FL,IAG,KGC.
Next post Sunday by 10 AM.
BLOG does NOT give buy or sell.
Saleem
Friday, August 28, 2009
Nasdaq closed @ new 09 HIGH on heavy volume...
Indices were under pressure with release of consumer confidence @ lowest level in 4 months...
Only Nasdaq closed in GREEN & @ new 09 HIGH close......
Volume was heavy in all indices with Nasdaq being heaviest in several weeks......
Oil,Gold,Silver & Nat gas were all GREEN @ close...
VIX closed @ 24.76 UP .32%....remains muted......
Solar stocks were strong today in negative market environment..sign of good things to come???
By 10 AM Saturday..I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Only Nasdaq closed in GREEN & @ new 09 HIGH close......
Volume was heavy in all indices with Nasdaq being heaviest in several weeks......
Oil,Gold,Silver & Nat gas were all GREEN @ close...
VIX closed @ 24.76 UP .32%....remains muted......
Solar stocks were strong today in negative market environment..sign of good things to come???
By 10 AM Saturday..I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Market digesting consumer "sour mood".....
Consumer confidence hit four month low & market is reacting .....
Today & Monday will see end of the month buying.....
Market has buying support.....@ least until Monday close.....
Gold Up $11.50
Oil UP 71 cents
Canadian $ down 13 tick as Canadian account deficit swells to C$11.2 Billion...same as trade deficit.....value of export down due to lower prices on Oil,Commodities....
Portfolio is POT,SOL,RIMM.......
@ 12.11 following are green in my watch list :
SOL,RIMM,AAPL,MRVL,GG,SLW,PALM,NVDA,
RCI,CIT,FNM,C,STP,TSL.
BLOG does NOT give buy or sell.
Saleem
Today & Monday will see end of the month buying.....
Market has buying support.....@ least until Monday close.....
Gold Up $11.50
Oil UP 71 cents
Canadian $ down 13 tick as Canadian account deficit swells to C$11.2 Billion...same as trade deficit.....value of export down due to lower prices on Oil,Commodities....
Portfolio is POT,SOL,RIMM.......
@ 12.11 following are green in my watch list :
SOL,RIMM,AAPL,MRVL,GG,SLW,PALM,NVDA,
RCI,CIT,FNM,C,STP,TSL.
BLOG does NOT give buy or sell.
Saleem
POT Downgraded.....
UBS Downgraded POT from Buy to Neutral.....
POT target cut to $95 from $100...Current bid $91.50 on a volume of 22,125....
I am staying put.....
MRVL upgraded by 3 brokerages so far..stock target increased by all.....average target $19...
MRVL does not fly as much as dictated by ER???Bid $15.75 on a volume 520,464...
AAPL iphone going to China in Q4 (Oct to Dec) BID $171.76 volume 114,264
Good luck to all....
BLOG does NOT give buy or sell.
Saleem
POT target cut to $95 from $100...Current bid $91.50 on a volume of 22,125....
I am staying put.....
MRVL upgraded by 3 brokerages so far..stock target increased by all.....average target $19...
MRVL does not fly as much as dictated by ER???Bid $15.75 on a volume 520,464...
AAPL iphone going to China in Q4 (Oct to Dec) BID $171.76 volume 114,264
Good luck to all....
BLOG does NOT give buy or sell.
Saleem
Thursday, August 27, 2009
Another 09 Highest close.....NICE !!!!
Indices gave a big thumbs down to Doug Kass for his bad thesis....
It is amazing to see seasoned hedge fund managers being so wrong about TAPE of this market...
One of the biggest saying on wall street IS "NEVER fight the TAPE"
Same hedge funds managers/technicians who were all positioned for S&P 400...missed that mark by 40%..this includes Prechter & Louise Yamada ( remember her?)...It IS OK to be WRONG once BUT NOT TWICE....????
So..we have another highest 09 close......on very strong volume.....
We have two more trading days left in this month for window dressing.....which could bring more firework on the UPside.....
Adami NOT making any "way lower S&P prediction "????
Volume will be LOW which is a good thing on down days ......so expect flattish to slightly lower 2 weeks ending 11th Sep...because of Labour day holiday......
What we have to understand is the direction of this market which IS decidedly UP....so think long term bets on any pullback.....
AH MRVL reported a Beat & guide UP..AH stock UP 9.02% on 1.12 million shares....
AH Futures are mixed
AH Nikkei is UP
AH Gold UP
AH Oil UP
Some of you MAY wonder as to why I am NOT speculating in Financials.....As I am fundamentally driven swing trader I must like the fundamentals FIRST..which I do NOT for Financials...secondly I am involved in a serious speculative bet against US$ with Canadian $ which IS extremely volatile on a daily basis...I was fully positioned for this bet when US$ was getting over 30% against Canadian currency...NOW @ today's close it gets 8.35% only..so I have GAINED almost 20% in my entire Equity with this bet...in other words my equity has tripled since the low point of this bet.....my entire equity gets rebalanced DAILY with gains or loss based on CAD/US$ ratio......My belief IS that CAD will surpass US$ AGAIN....last time I switched when CAD went to 10.5% premium against US$...I may do the same switch AGAIN @ some point.
BLOG does NOT give buy or sell.
Saleem
It is amazing to see seasoned hedge fund managers being so wrong about TAPE of this market...
One of the biggest saying on wall street IS "NEVER fight the TAPE"
Same hedge funds managers/technicians who were all positioned for S&P 400...missed that mark by 40%..this includes Prechter & Louise Yamada ( remember her?)...It IS OK to be WRONG once BUT NOT TWICE....????
So..we have another highest 09 close......on very strong volume.....
We have two more trading days left in this month for window dressing.....which could bring more firework on the UPside.....
Adami NOT making any "way lower S&P prediction "????
Volume will be LOW which is a good thing on down days ......so expect flattish to slightly lower 2 weeks ending 11th Sep...because of Labour day holiday......
What we have to understand is the direction of this market which IS decidedly UP....so think long term bets on any pullback.....
AH MRVL reported a Beat & guide UP..AH stock UP 9.02% on 1.12 million shares....
AH Futures are mixed
AH Nikkei is UP
AH Gold UP
AH Oil UP
Some of you MAY wonder as to why I am NOT speculating in Financials.....As I am fundamentally driven swing trader I must like the fundamentals FIRST..which I do NOT for Financials...secondly I am involved in a serious speculative bet against US$ with Canadian $ which IS extremely volatile on a daily basis...I was fully positioned for this bet when US$ was getting over 30% against Canadian currency...NOW @ today's close it gets 8.35% only..so I have GAINED almost 20% in my entire Equity with this bet...in other words my equity has tripled since the low point of this bet.....my entire equity gets rebalanced DAILY with gains or loss based on CAD/US$ ratio......My belief IS that CAD will surpass US$ AGAIN....last time I switched when CAD went to 10.5% premium against US$...I may do the same switch AGAIN @ some point.
BLOG does NOT give buy or sell.
Saleem
Indices Down .77% to 1.38%......
Markets are in the RED today......
Low in the indices so far were as follows:
Dow 9459.40
S&P 500 1016.20
Nasdaq 1993.03
About Doug Kass call yesterday...street.com is running a poll to see how readers view his market TOP thesis 68% agree with his call ......& i voted against I am in minority of 32%.....this very poll negates his biggest thesis that there is too much optimism about markets.....I believe the opposite is true.....
Gold Dowm 80 cents
Oil Down $1.52 to $69.91 near support
Canadian $ Down 6 tick.....
Portfolio is POT,SOL,RIMM.....
@ 10.53 following are green :
SOL,RVBD,FNM,C,AMTD......
MRVL reports AH....expecting a BEAT.....
PS..i have to step out for two hours..so posting early today.....
BLOG does NOT give buy or sell.
Saleem
Low in the indices so far were as follows:
Dow 9459.40
S&P 500 1016.20
Nasdaq 1993.03
About Doug Kass call yesterday...street.com is running a poll to see how readers view his market TOP thesis 68% agree with his call ......& i voted against I am in minority of 32%.....this very poll negates his biggest thesis that there is too much optimism about markets.....I believe the opposite is true.....
Gold Dowm 80 cents
Oil Down $1.52 to $69.91 near support
Canadian $ Down 6 tick.....
Portfolio is POT,SOL,RIMM.....
@ 10.53 following are green :
SOL,RVBD,FNM,C,AMTD......
MRVL reports AH....expecting a BEAT.....
PS..i have to step out for two hours..so posting early today.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, August 26, 2009
Another day & another 09 high close....NICE !!!!
Indices are doing what most traders/technicians were NOT ready for...making new 09 highs DAILY on a closing basis...
Today we have another bear Doug Kass who is "claiming" he KNOWS that we have reached the "top in this market"
So..Now we have Prechter,Roubini,Kass,Art Cashin,Adami plus majority of technicians/traders shorting this market for the last 2 months...result has been new closing HIGH on a daily basis......
Why are we going UP...because CNBC has been giving play on a daily basis to BEARISH/SHORT calls...I have NEVER seen a TOP drum roll of this magnitude EVER.....
I do not see a major pullback based on RSI as listed below :
S&P 500 66.77
Nasdaq 62.61
Dow 68.49
These are NOT "overbought reading based on RSI"
Previous High RSI was above 76 area..which we SHOULD exceed in NEXT runup....
We are coming out of the biggest slump and traders HAVE sold this market either SHORT or are on the sidelines......so more money will be deployed after Labour day week...
Based on Volume pattern...i do NOT see any selling pressure .......
We will probably mark time along these levels for couple of weeks & then another move UP which will be to "clean UP shorts"....once shorts become bull then we will have meaningful correction......of upto 9%
IF.....I have to take a guess...that stage is above 1100 area in S&P 500......
Strong stocks included V,NDN,MRVL,GRMN,GNK,RVBD,BZH,LEN,CIEN......
AH Futures are RED
AH Nikkei is RED
BLOG does NOT give buy or sell.
Saleem
Today we have another bear Doug Kass who is "claiming" he KNOWS that we have reached the "top in this market"
So..Now we have Prechter,Roubini,Kass,Art Cashin,Adami plus majority of technicians/traders shorting this market for the last 2 months...result has been new closing HIGH on a daily basis......
Why are we going UP...because CNBC has been giving play on a daily basis to BEARISH/SHORT calls...I have NEVER seen a TOP drum roll of this magnitude EVER.....
I do not see a major pullback based on RSI as listed below :
S&P 500 66.77
Nasdaq 62.61
Dow 68.49
These are NOT "overbought reading based on RSI"
Previous High RSI was above 76 area..which we SHOULD exceed in NEXT runup....
We are coming out of the biggest slump and traders HAVE sold this market either SHORT or are on the sidelines......so more money will be deployed after Labour day week...
Based on Volume pattern...i do NOT see any selling pressure .......
We will probably mark time along these levels for couple of weeks & then another move UP which will be to "clean UP shorts"....once shorts become bull then we will have meaningful correction......of upto 9%
IF.....I have to take a guess...that stage is above 1100 area in S&P 500......
Strong stocks included V,NDN,MRVL,GRMN,GNK,RVBD,BZH,LEN,CIEN......
AH Futures are RED
AH Nikkei is RED
BLOG does NOT give buy or sell.
Saleem
Indices Down from .14% to .43%......
Market is in flattish mode...going in & out of green.......
Market MAY need to base around current level before making another move UP.....which is good..need to catch its technical breadth......
Oil Down $1.04
Gold Down 90 cents
Canadian $ Down 1.13 cent after Canadian Central Bank voiced serious concern about its strength which MAY derail recovery in Canadian economy.....
My portfolio is POT,SOL,RIMM
@ 12.09 following are green in my watch list :
SOL,STP,RVBD,GNK,MRVL,FMCN,BAC,
LULU,IGT,NYX,GS,PALM,V.....
BLOG does NOT give buy or sell.
Saleem
Market MAY need to base around current level before making another move UP.....which is good..need to catch its technical breadth......
Oil Down $1.04
Gold Down 90 cents
Canadian $ Down 1.13 cent after Canadian Central Bank voiced serious concern about its strength which MAY derail recovery in Canadian economy.....
My portfolio is POT,SOL,RIMM
@ 12.09 following are green in my watch list :
SOL,STP,RVBD,GNK,MRVL,FMCN,BAC,
LULU,IGT,NYX,GS,PALM,V.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 25, 2009
Another day another 09 highest close....NICE !!!!
Market faced another "sell in the news" day...BUT we stayed GREEN @ close......
Fast PANIC Money Adami the magnificent issued another DIRE warning for S&P 500 going way DOWN...his uninterrupted 100th call for S&P 500 to go way down????
Market do NOT listen to any group of traders EVER...it marches on its OWN beat..which has been CONSISTENTLY on an UPTREND since March with brief bout of profit taking along the way....
Can indices close down...yes it has & it will....we will have 3% to 9% pullback when market is ready..NOT when CNBC "happy hour" says so.......
So stay the course with your OWN due diligence & ensure your OWN comfort level.....that IS the important part......
In my portfolio :
Sold RVBD
Bought 80% more POT @ $93.95...brought my average down to $95.55
Portfolio is POT,SOL,RIMM......
Strong stocks were GOOG,BIDU,MA,V,NDN,GRMN,BAC,FNM.......
AH China ,Hang Seng & Nikkei are all UP
AH Crude Down 49 cents
AH futures are RED.....
PS..got tied up with some renovation issues...so post was delayed.
BLOG does NOT give buy or sell.
Saleem
Fast PANIC Money Adami the magnificent issued another DIRE warning for S&P 500 going way DOWN...his uninterrupted 100th call for S&P 500 to go way down????
Market do NOT listen to any group of traders EVER...it marches on its OWN beat..which has been CONSISTENTLY on an UPTREND since March with brief bout of profit taking along the way....
Can indices close down...yes it has & it will....we will have 3% to 9% pullback when market is ready..NOT when CNBC "happy hour" says so.......
So stay the course with your OWN due diligence & ensure your OWN comfort level.....that IS the important part......
In my portfolio :
Sold RVBD
Bought 80% more POT @ $93.95...brought my average down to $95.55
Portfolio is POT,SOL,RIMM......
Strong stocks were GOOG,BIDU,MA,V,NDN,GRMN,BAC,FNM.......
AH China ,Hang Seng & Nikkei are all UP
AH Crude Down 49 cents
AH futures are RED.....
PS..got tied up with some renovation issues...so post was delayed.
BLOG does NOT give buy or sell.
Saleem
Higher 09 Highs AGAIN.....NICE !!!!
Indices are NOT listening to voice of REASON to go DOWN..BUT it keeps going HIGHER & HIGHER.....a curse to few but BLESSING to many......
All indices @ 09 HIGH.....
TAPE has a very clear message...do NOT listen to yahoo's on CNBC who cannot tell a BULL from a BEAR.....
CNBC much talked about VIX is SINKING Down 2.86% @24.42...saying we go HIGHER !!!!
Oil Down 54 cents ..taking a nap
Gold UP $4
Canadian $ turned lower after US data came in better than expected ie Housing/consumer confidence ..Down 12 tick still near 09 highs.....
In my portfolio :
Bought POT @ $96.46
Portfolio is POT,SOL,RIMM,RVBD......
@ 12.08 following are green in my watch list :
AAPL,RIMM,SOL,GG,NTES,FMCN,KGC,FNM,BAC,TKC,CTRN,
LULU,WYNN,MA,BIDU,LVS,SOHU,FSLR,ISRG,
SNE,GS,VAR,IBN,FWLT,AMZN,GOOG,V,NDN.
BLOG does NOT give buy or sell.
Saleem
All indices @ 09 HIGH.....
TAPE has a very clear message...do NOT listen to yahoo's on CNBC who cannot tell a BULL from a BEAR.....
CNBC much talked about VIX is SINKING Down 2.86% @24.42...saying we go HIGHER !!!!
Oil Down 54 cents ..taking a nap
Gold UP $4
Canadian $ turned lower after US data came in better than expected ie Housing/consumer confidence ..Down 12 tick still near 09 highs.....
In my portfolio :
Bought POT @ $96.46
Portfolio is POT,SOL,RIMM,RVBD......
@ 12.08 following are green in my watch list :
AAPL,RIMM,SOL,GG,NTES,FMCN,KGC,FNM,BAC,TKC,CTRN,
LULU,WYNN,MA,BIDU,LVS,SOHU,FSLR,ISRG,
SNE,GS,VAR,IBN,FWLT,AMZN,GOOG,V,NDN.
BLOG does NOT give buy or sell.
Saleem
Monday, August 24, 2009
Flat close today......
Dow was the only Index to close @ new 09 HIGH.....
Nasdaq & S&P 500 went to 09 high but failed to close in 09 record territory.....
Market internals were pretty much in-line with closing picture.....
VIX closed @ 25.14 UP .52%.....this index is telling me that we are NOT ready to roll over...
OIL closed @ new 09 HIGH.....another index saying that world economy is in much better shape than a famous NYU professor CAN predict......
About "speculative froth in the market".....it is always there..so NOT an indicator of ANYTHING negative....
There is an army of option players who enjoy betting on their ideas...I do not see that as a sign of speculative froth ever......
Markets will do what it needs to do...if that means all $1 stock will take off..so be it.....NOT my style BUT it WORKS......
Every trader/investor has to figure out what goes in their portfolio....as long as they are taking a calculated risk...it is FINE.....
Many stocks "rolled over" which is NOT a good sign????
BUT..we go through these type of action whenever we are ELEVATED......I will use further pullback in strong stocks as "buying opportunity"...which MAY come & go QUICKLY.....so have to be QUICK in execution.....
Following stocks were among green @ close :
AGU,GOOG,FNM,AMD,C,VLO,FSLR,VAR.....
AH Futures are RED....
AH Nikkei Down .87%
AH Oil Down 42 cents
BLOG does NOT give buy or sell.
Saleem
Nasdaq & S&P 500 went to 09 high but failed to close in 09 record territory.....
Market internals were pretty much in-line with closing picture.....
VIX closed @ 25.14 UP .52%.....this index is telling me that we are NOT ready to roll over...
OIL closed @ new 09 HIGH.....another index saying that world economy is in much better shape than a famous NYU professor CAN predict......
About "speculative froth in the market".....it is always there..so NOT an indicator of ANYTHING negative....
There is an army of option players who enjoy betting on their ideas...I do not see that as a sign of speculative froth ever......
Markets will do what it needs to do...if that means all $1 stock will take off..so be it.....NOT my style BUT it WORKS......
Every trader/investor has to figure out what goes in their portfolio....as long as they are taking a calculated risk...it is FINE.....
Many stocks "rolled over" which is NOT a good sign????
BUT..we go through these type of action whenever we are ELEVATED......I will use further pullback in strong stocks as "buying opportunity"...which MAY come & go QUICKLY.....so have to be QUICK in execution.....
Following stocks were among green @ close :
AGU,GOOG,FNM,AMD,C,VLO,FSLR,VAR.....
AH Futures are RED....
AH Nikkei Down .87%
AH Oil Down 42 cents
BLOG does NOT give buy or sell.
Saleem
09 HIGHS Again.....NICE !!!
Indices are doing what was obvious in TAPE......
All major indices are making new 09 highs......
Oil UP 78 cents to new 09 high of $74.67
Gold Down $2.30
Canadian $ UP 62 tick against US$.....
In my portfolio :
SOLD POT
Tripled my position in RVBD..paid $19.87
Portfolio is SOL,RIMM,RVBD
@ 12.08 following are green in my watch list :
POT,FNM,AAPL,IPI,GG,AMD,BAC,C,
BIDU,LVS,SOHU,VLO,SPWRA,FSLR,ISRG,
GS,VAR,AGU,SU.
BLOG does NOT give buy or sell.
Saleem
All major indices are making new 09 highs......
Oil UP 78 cents to new 09 high of $74.67
Gold Down $2.30
Canadian $ UP 62 tick against US$.....
In my portfolio :
SOLD POT
Tripled my position in RVBD..paid $19.87
Portfolio is SOL,RIMM,RVBD
@ 12.08 following are green in my watch list :
POT,FNM,AAPL,IPI,GG,AMD,BAC,C,
BIDU,LVS,SOHU,VLO,SPWRA,FSLR,ISRG,
GS,VAR,AGU,SU.
BLOG does NOT give buy or sell.
Saleem
Sunday, August 23, 2009
Focus should be where we are heading in markets....
Indices have just "broken out"of their recent trading range...which was considered a "breakdown point by many".....
When "technicals defies logic"...pay attention.....
Many traders/investors are trying to "rewrite history"...by WAITING for a serious pullback...chances of that happening immediately ahead is not very high.......
Effort/Energy/Due Diligence..should be on what to BUY than an "endless WAIT for a major pullback"
Too many "smart traders are shaking their head in DISBELIEF"...so do NOT join that army of disbelievers..as its list IS growing LONGER & LONGER.....means MAJOR chase the rally phenomenon will take place.......
Too many traders/investors/mutual funds/hedge funds/pundits are looking "way behind the curve"..when it comes to their performance compared to peers & ordinary investors who followed $ cost averaging and kept investing for future......
Can you IMAGINE..how under-invested traders/hedge funds will look when their statements are released ending September.....Market is UP 54% and they are UP 5%...NOT a pretty picture for any social gathering or for their business/self esteem/COMPETENCY....
The most famous line which is being used for last 3 months IS..."we have come too far too fast"...I beg to differ completely......we ARE barely REPAIRING the damage in markets in a very "orderly manner"......
Most mutual funds/hedge funds have lost 35% to 40% equity for their clients ....even with this latest 54% rally...your latest statements will prove that......
So ....you WANT to FIGHT this TAPE & be a NAYSAYER......????
Which will only mean that NOT only you lost horrendous amount of EQUITY from Oct of 07 & became defensive near LOWS..BUT are stubborn to accept the verdict of this TAPE..so you are NOT positioned to RECOUP your lost equity...does NOT sound like a good plan to me????
Markets go UP & markets go DOWN.....a fact of last 80 years....
SO..are we positioned for a market which IS going UP...cycle generally last for 3 years...based on history......
YES,YES & YES..there will be correction of 3% to 9% periodically...but the UPTREND will take us way way HIGHER than those manageable risk......
I personally do NOT know when the next correction will be..BUT i DO know based on current TAPE that risk/reward ratio is/has been pretty GOOD......
BUT...the most important thing to consider IS ..your OWN comfort level.....IF you CANNOT sleep well @ night......then it is NOT worth being in the market...HEALTH comes BEFORE WEALTH for sure........
Here is the current prediction for the market by www.stockcharts.com
DOW 10,200 closed @ 9506
S&P 500 1295 closed @1026
Nasdaq 2210 closed @2020
These are targets by a technical outfit.......
My BULLISH thesis is based on fundamental CHANGES taking place in worldwide economy....those are MACRO views.....
Yes ..you CAN be fixated on MICRO views about opinions of bears OR where Shanghai closed last night OR how high unemployment will go ......BUT in the end MACRO picture is what IS propelling this market HIGHER.....
BUT...it is your hard earned money..so you have a responsibility to make it work for you..however you want to position it.......
No matter what you decide to do.....good luck with your OWN strategy.
BLOG does NOT give buy or sell.
Saleem
When "technicals defies logic"...pay attention.....
Many traders/investors are trying to "rewrite history"...by WAITING for a serious pullback...chances of that happening immediately ahead is not very high.......
Effort/Energy/Due Diligence..should be on what to BUY than an "endless WAIT for a major pullback"
Too many "smart traders are shaking their head in DISBELIEF"...so do NOT join that army of disbelievers..as its list IS growing LONGER & LONGER.....means MAJOR chase the rally phenomenon will take place.......
Too many traders/investors/mutual funds/hedge funds/pundits are looking "way behind the curve"..when it comes to their performance compared to peers & ordinary investors who followed $ cost averaging and kept investing for future......
Can you IMAGINE..how under-invested traders/hedge funds will look when their statements are released ending September.....Market is UP 54% and they are UP 5%...NOT a pretty picture for any social gathering or for their business/self esteem/COMPETENCY....
The most famous line which is being used for last 3 months IS..."we have come too far too fast"...I beg to differ completely......we ARE barely REPAIRING the damage in markets in a very "orderly manner"......
Most mutual funds/hedge funds have lost 35% to 40% equity for their clients ....even with this latest 54% rally...your latest statements will prove that......
So ....you WANT to FIGHT this TAPE & be a NAYSAYER......????
Which will only mean that NOT only you lost horrendous amount of EQUITY from Oct of 07 & became defensive near LOWS..BUT are stubborn to accept the verdict of this TAPE..so you are NOT positioned to RECOUP your lost equity...does NOT sound like a good plan to me????
Markets go UP & markets go DOWN.....a fact of last 80 years....
SO..are we positioned for a market which IS going UP...cycle generally last for 3 years...based on history......
YES,YES & YES..there will be correction of 3% to 9% periodically...but the UPTREND will take us way way HIGHER than those manageable risk......
I personally do NOT know when the next correction will be..BUT i DO know based on current TAPE that risk/reward ratio is/has been pretty GOOD......
BUT...the most important thing to consider IS ..your OWN comfort level.....IF you CANNOT sleep well @ night......then it is NOT worth being in the market...HEALTH comes BEFORE WEALTH for sure........
Here is the current prediction for the market by www.stockcharts.com
DOW 10,200 closed @ 9506
S&P 500 1295 closed @1026
Nasdaq 2210 closed @2020
These are targets by a technical outfit.......
My BULLISH thesis is based on fundamental CHANGES taking place in worldwide economy....those are MACRO views.....
Yes ..you CAN be fixated on MICRO views about opinions of bears OR where Shanghai closed last night OR how high unemployment will go ......BUT in the end MACRO picture is what IS propelling this market HIGHER.....
BUT...it is your hard earned money..so you have a responsibility to make it work for you..however you want to position it.......
No matter what you decide to do.....good luck with your OWN strategy.
BLOG does NOT give buy or sell.
Saleem
Saturday, August 22, 2009
BUY rated stocks for " higher HIGHS" !!!
Following stocks are flashing BUY signal.Please do your OWN due diligence by checking FA/TA/TAPE.
RIMM,TLM,TCK,RBY,CEL,JOSB,SBLK,SCHN,
GES,ATI,WTSLA,PLFE,TDY,VM,CKR,DSX,IPI,
TIE,AAPL,ARAY,ATHN,BOOM,DENN,FITB,
GOOG,HA,JBLU,NVDA,SHFL,SEED,SOHU,
TQNT,BKC,CLS,HIG,ICE,LM,SKX,TKC,TSO,
WAG,WX,EGO,BEBE,CSCO,CYOU,HLIT,LRCX,
NVLS,ECA,FRO,HMY,HST,MOS.
Next post by 10 AM Sunday.
BLOG does NOT give buy or sell.
Saleem
RIMM,TLM,TCK,RBY,CEL,JOSB,SBLK,SCHN,
GES,ATI,WTSLA,PLFE,TDY,VM,CKR,DSX,IPI,
TIE,AAPL,ARAY,ATHN,BOOM,DENN,FITB,
GOOG,HA,JBLU,NVDA,SHFL,SEED,SOHU,
TQNT,BKC,CLS,HIG,ICE,LM,SKX,TKC,TSO,
WAG,WX,EGO,BEBE,CSCO,CYOU,HLIT,LRCX,
NVLS,ECA,FRO,HMY,HST,MOS.
Next post by 10 AM Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, August 21, 2009
New 09 HIGH in all Indices.....
Market is certainly predicting better economic picture.....
Oil went to new 09 high......
All major indices went to new 09 high.....
Oil & markets are giving a major signal......
Market internals were strong...
Volume was high due to OE.....
Solar stocks were under pressure due to downgrade.....
By 10 AM Saturday..I will post a list of buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Oil went to new 09 high......
All major indices went to new 09 high.....
Oil & markets are giving a major signal......
Market internals were strong...
Volume was high due to OE.....
Solar stocks were under pressure due to downgrade.....
By 10 AM Saturday..I will post a list of buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Breakout in all indices.....NICE !!!!
All indices were basing for 3 weeks and then KABOOM !!!!
Guy Adami of Fast PANIC Money promised yesterday that something BAD will happen in markets ..that is why he is SHORT for a long time...love this BAD happening of breakout...he is so RIGHT....will WAIT anxiously for his NEW BAD prediction today????
Message of the market is very CLEAR.....follow the TAPE....how tough can that be?
CN Bearish Channel gives "quality time" daily to perma bear like Art non-Cashin,Roubini,Pimco & Robert Prechter...which gives non-quality reason to sell sell sell to those who treat CN Bearish Channel their cue how to trade....which should be how NOT to trade.....
In case IF you are still wondering WHY this market is going HIGHER.....it is the reverse of last year...Market IS telling you that economy IS on the MEND & RECOVERY is on the way..FASTER than most PUNDITS can think.....
Higher HIGHS begets new HIGHS...an old proven technical indicator.....
I am AMAZED that so many experienced traders are scared of this market????
Never fight the TAPE.....it will be over WHEN it is OVER.....can we say 1100 in S&P 500..sure we CAN !!!!
OIL @ new 09 HIGH
GOLD UP $13
Canadian $ UP 54 tick near 09 high.....
VIX Down to 24.48 ..Down 2.43%
Portfolio is POT,SOL,RIMM,RVBD
@ 12.02 following are Green in my watch list :
RIMM,EBAY,AAPL,GG,GNK,TLM,SLW,NTES,
YGE,IAG,KGC,C,IGT,LULU,MA,BIDU,LVS,
SOHU,ABX,ISRG,GG,GS,VAR,IBN,FWLT,SU.
BLOG does NOT give buy or sell.
Saleem
Guy Adami of Fast PANIC Money promised yesterday that something BAD will happen in markets ..that is why he is SHORT for a long time...love this BAD happening of breakout...he is so RIGHT....will WAIT anxiously for his NEW BAD prediction today????
Message of the market is very CLEAR.....follow the TAPE....how tough can that be?
CN Bearish Channel gives "quality time" daily to perma bear like Art non-Cashin,Roubini,Pimco & Robert Prechter...which gives non-quality reason to sell sell sell to those who treat CN Bearish Channel their cue how to trade....which should be how NOT to trade.....
In case IF you are still wondering WHY this market is going HIGHER.....it is the reverse of last year...Market IS telling you that economy IS on the MEND & RECOVERY is on the way..FASTER than most PUNDITS can think.....
Higher HIGHS begets new HIGHS...an old proven technical indicator.....
I am AMAZED that so many experienced traders are scared of this market????
Never fight the TAPE.....it will be over WHEN it is OVER.....can we say 1100 in S&P 500..sure we CAN !!!!
OIL @ new 09 HIGH
GOLD UP $13
Canadian $ UP 54 tick near 09 high.....
VIX Down to 24.48 ..Down 2.43%
Portfolio is POT,SOL,RIMM,RVBD
@ 12.02 following are Green in my watch list :
RIMM,EBAY,AAPL,GG,GNK,TLM,SLW,NTES,
YGE,IAG,KGC,C,IGT,LULU,MA,BIDU,LVS,
SOHU,ABX,ISRG,GG,GS,VAR,IBN,FWLT,SU.
BLOG does NOT give buy or sell.
Saleem
Thursday, August 20, 2009
Indices closed near high of the day on high volume...NICE !!!
Markets are showing renewed strength on higher volume.....
Indices closed near high of the day.....
Stars are aligned with many sectors participating in this rally..including financials.....
Friday should be very "interesting" S&P 500 very close to 1010......once it crosses over expect "firework".......
AH Futures are RED...
AH Nikkei is Down .63%
Once Shanghai opens then it will give cue to all open markets.....
OE is here...should make Friday very very "interesting"
On a personal note...extremely gratified that today was my "best 09 gain for single day by far"
BLOG does NOT give buy or sell.
Saleem
Indices closed near high of the day.....
Stars are aligned with many sectors participating in this rally..including financials.....
Friday should be very "interesting" S&P 500 very close to 1010......once it crosses over expect "firework".......
AH Futures are RED...
AH Nikkei is Down .63%
Once Shanghai opens then it will give cue to all open markets.....
OE is here...should make Friday very very "interesting"
On a personal note...extremely gratified that today was my "best 09 gain for single day by far"
BLOG does NOT give buy or sell.
Saleem
Indices GREEN 3 days in a row...NICE !!!
Indices are giving "clear" message to Bears & so-called technicians to get it RIGHT or lose further credibility/equity......
Indices are GREEN 3rd day thanks to all the bearish calls & PANIC selling by Fast PANIC Money "devotees"
CN Bearish Channel gets full credit to promote SHORTS & BEARS agenda on a daily basis ...this gives them "shock value ratings"......
IF S&P 500 goes ABOVE 1010...watch a "major short SQUEEZE"
GOLD Down $1.90
Oil UP 46 cents
Canadian $ UP 45 tick
VIX @ 25 Down 4.8%
Portfolio is POT,SOL,RIMM,RVBD
SOL was rated a "BUY" and added to "conviction BUY list" by Goldman Sachs....citing low cost and best positioned Solar play..... UP 18%
SOL also signed a HUGE $700 million contract with a Chinese Province.....
STP ER was a BEAT on EPS but a miss on Sales..also guiding LOWER Sales for 09......
@ 12.10 following are green in my watch list :
SOL,POT,RIMM,RVBD,GNK,GG,AAPL,SINA,GOOG,
BAC,C,ICE,LULU,CCJ,WYNN,MA,BIDU,LVS,SOHU,
GS,AMZN,ISRG,NVDA.
BLOG does NOT give buy or sell.
Saleem
Indices are GREEN 3rd day thanks to all the bearish calls & PANIC selling by Fast PANIC Money "devotees"
CN Bearish Channel gets full credit to promote SHORTS & BEARS agenda on a daily basis ...this gives them "shock value ratings"......
IF S&P 500 goes ABOVE 1010...watch a "major short SQUEEZE"
GOLD Down $1.90
Oil UP 46 cents
Canadian $ UP 45 tick
VIX @ 25 Down 4.8%
Portfolio is POT,SOL,RIMM,RVBD
SOL was rated a "BUY" and added to "conviction BUY list" by Goldman Sachs....citing low cost and best positioned Solar play..... UP 18%
SOL also signed a HUGE $700 million contract with a Chinese Province.....
STP ER was a BEAT on EPS but a miss on Sales..also guiding LOWER Sales for 09......
@ 12.10 following are green in my watch list :
SOL,POT,RIMM,RVBD,GNK,GG,AAPL,SINA,GOOG,
BAC,C,ICE,LULU,CCJ,WYNN,MA,BIDU,LVS,SOHU,
GS,AMZN,ISRG,NVDA.
BLOG does NOT give buy or sell.
Saleem
Wednesday, August 19, 2009
Back to Back Gains in all Indices...NICE !!!!
All Indices had back to back gains..a sure sign of technical strength....Volume was heavy in Nasdaq.....
Many theories are floating around about this market....BUT it keeps changing each day....most pundits are fighting this TAPE and are trying in VAIN to call a top for this run...they have been WRONG most days...i wonder how they are trading...must be a "yo yo style"
This market has a simple message...Follow the TAPE......TAPE has NOT shown any weakness since early July correction.....
Every market has its own pattern which is never duplicated ...we are in the process of creating a history which most of the seasoned & experienced traders are NOT getting it.......
AH CTRN ER was a miss & weak guidance Down 11.62%
AH Futures are green
AH Nikkei is UP .26%
STP reports before open...expecting a beat & good guidance....
BLOG does NOT give buy or sell.
Saleem
Many theories are floating around about this market....BUT it keeps changing each day....most pundits are fighting this TAPE and are trying in VAIN to call a top for this run...they have been WRONG most days...i wonder how they are trading...must be a "yo yo style"
This market has a simple message...Follow the TAPE......TAPE has NOT shown any weakness since early July correction.....
Every market has its own pattern which is never duplicated ...we are in the process of creating a history which most of the seasoned & experienced traders are NOT getting it.......
AH CTRN ER was a miss & weak guidance Down 11.62%
AH Futures are green
AH Nikkei is UP .26%
STP reports before open...expecting a beat & good guidance....
BLOG does NOT give buy or sell.
Saleem
GREEN is the colour......NICE !!!!
S&P 500 defied the bearish calls by many on CN Bearish Channel...by NOT going below 980 even @ low of the day......LOD was 980.62
SO...please bring all the BEARS again & again on CN Bearish Channel..it IS a great CONTRARY indicator....
None of the bears have given either a fundamental reason OR technical reason for markets to go down......they keep using the word "no catalyst" which does NOT give FA/TA reasoning???
Most of the perma bears have been WRONG for last 22 years.....that IS a great track record for "guiness world record of non- genius on wall street"
Today's TAPE is extremely impressive as entire world markets were DOWN & Shanghai has entered 20% Down which IS bear market territory....
Gold UP $2.90
OIL UP $1.79
Canadian $ UP 35 tick......Canadian CPI was the lowest since 1953..down .9% vs expectations of .8%
Portfolio is POT,SOL,RIMM,RVBD
@ 12.30 following are among green :
POT,GG,MRVL,PMCS,TLM,AAPL,SINA,TKC,
CCJ,JRCC,VLO,ABX,ISRG,SU,AGU,AUY.
BLOG does NOT give buy or sell.
Saleem
SO...please bring all the BEARS again & again on CN Bearish Channel..it IS a great CONTRARY indicator....
None of the bears have given either a fundamental reason OR technical reason for markets to go down......they keep using the word "no catalyst" which does NOT give FA/TA reasoning???
Most of the perma bears have been WRONG for last 22 years.....that IS a great track record for "guiness world record of non- genius on wall street"
Today's TAPE is extremely impressive as entire world markets were DOWN & Shanghai has entered 20% Down which IS bear market territory....
Gold UP $2.90
OIL UP $1.79
Canadian $ UP 35 tick......Canadian CPI was the lowest since 1953..down .9% vs expectations of .8%
Portfolio is POT,SOL,RIMM,RVBD
@ 12.30 following are among green :
POT,GG,MRVL,PMCS,TLM,AAPL,SINA,TKC,
CCJ,JRCC,VLO,ABX,ISRG,SU,AGU,AUY.
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 18, 2009
.90% to 1.30% rebound on light volume....
Market staged a worldwide rebound....In US it was on lighter volume...
Internals were much stronger than close.....
Many bears are showing up on CNBC predicting severe correction.....They are listed below in no order :
Mohammad El-Arian of Pimco....has been harping against stock market rally saying "its on sugar high"...so he must have taken a short position.....
Art Cashin of UBS now predicting "historic trading in next 8 weeks" translation expect a major CRASH.....he has been WRONG for 6 months in a row.....
Doug Cliggott a perma bear who has never accepted any stock market rally is saying "stay in all cash"
Robert Prechter of Elliott Wave has been predicting a "retest of low (S&P 500 666 level) and saying that we will NOT hold 666...going to much LOWER than 666.....that came out on Aug 5th.....
Fast PANIC Money gang predicting 905 in S&P 500....
SO...there we have very powerful players from PIMCO,Elliott wave technical analyst giving plenty of time on CNBC for bearish call......
This tells me that as a CONTRARY indicator we SHOULD go HIGHER as too many bearish bets have been placed......
YES...markets are elevated...we MAY get JITTERY TAPE.....so pay attention to your stocks...some ARE extended ..so a downward basing action MAY take place......
NEVER ignore NOISE ...BUT do NOT ignore your OWN investing/trading thesis.....
HPQ ER was good but it is down AH.......
YGE reports before open...expecting a good ER.....
AH Futures are RED
AH OIL is green
AH Nikkei is slightly GREEN
BLOG does NOT give buy or sell.
Saleem
Internals were much stronger than close.....
Many bears are showing up on CNBC predicting severe correction.....They are listed below in no order :
Mohammad El-Arian of Pimco....has been harping against stock market rally saying "its on sugar high"...so he must have taken a short position.....
Art Cashin of UBS now predicting "historic trading in next 8 weeks" translation expect a major CRASH.....he has been WRONG for 6 months in a row.....
Doug Cliggott a perma bear who has never accepted any stock market rally is saying "stay in all cash"
Robert Prechter of Elliott Wave has been predicting a "retest of low (S&P 500 666 level) and saying that we will NOT hold 666...going to much LOWER than 666.....that came out on Aug 5th.....
Fast PANIC Money gang predicting 905 in S&P 500....
SO...there we have very powerful players from PIMCO,Elliott wave technical analyst giving plenty of time on CNBC for bearish call......
This tells me that as a CONTRARY indicator we SHOULD go HIGHER as too many bearish bets have been placed......
YES...markets are elevated...we MAY get JITTERY TAPE.....so pay attention to your stocks...some ARE extended ..so a downward basing action MAY take place......
NEVER ignore NOISE ...BUT do NOT ignore your OWN investing/trading thesis.....
HPQ ER was good but it is down AH.......
YGE reports before open...expecting a good ER.....
AH Futures are RED
AH OIL is green
AH Nikkei is slightly GREEN
BLOG does NOT give buy or sell.
Saleem
Markets rebounding worldwide......NICE !!!!
Indices are staging a "quick rebound" from one day wonder of selling???
WHAT...no follow thru to selling??
Fast Money genius "Adami the magnificent" guaranteed 905 in S&P 500...he has been STARING in camera and saying LOWER LOWER while we keep going HIGHER & HIGHER...it is fun to watch Fast Money traders PANIC on down days...
Gold UP $3.20
Oil UP 73 cents
Canadian $ UP 41 tick against US$....Canadian CPI is out before open..it will be negative....
My portfolio is POT,SOL,RIMM,RVBD.....
Target price increased on all smartphone makers... RIMM target $150 by RBC......
@ 12.07 following are among green:
RIMM,POT,RVBD,AAPL,TLM,GG,MRVL,
SINA,FMCN,BAC,C,ICE,IGT,WYNN,MA,
BIDU,LVS,SOHU,ISRG,SNE,GS,IBN,FWLT.
BLOG does NOT give buy or sell.
Saleem
WHAT...no follow thru to selling??
Fast Money genius "Adami the magnificent" guaranteed 905 in S&P 500...he has been STARING in camera and saying LOWER LOWER while we keep going HIGHER & HIGHER...it is fun to watch Fast Money traders PANIC on down days...
Gold UP $3.20
Oil UP 73 cents
Canadian $ UP 41 tick against US$....Canadian CPI is out before open..it will be negative....
My portfolio is POT,SOL,RIMM,RVBD.....
Target price increased on all smartphone makers... RIMM target $150 by RBC......
@ 12.07 following are among green:
RIMM,POT,RVBD,AAPL,TLM,GG,MRVL,
SINA,FMCN,BAC,C,ICE,IGT,WYNN,MA,
BIDU,LVS,SOHU,ISRG,SNE,GS,IBN,FWLT.
BLOG does NOT give buy or sell.
Saleem
Monday, August 17, 2009
Market closed near low of the day....
All indices closed near low of the day......
Internals of the market were "much weaker"......more like NASDAQ 2.75% slump.....
So..we almost got our much feared 3% correction in a hurry........
S&P 500 closed in support zone of 980 area.......
RSI are as follows in indices after today's pounding :
S&P 500..51.45
Dow.......53.58
Nasdaq..47.85
Sounds like an "oversold condition"
AH futures are green
Nikkei is green
Oil is green
Gold is green
CAD is green
I think all the AH green is saying something.......
VIX reflected today's drubbing it closed UP 14.92% @ 27.89
AH TSL reported a beat which was pre-announced.....UP 50 cents AH
In correction @ elevated levels.....low RSI stock gives you better protection....
BLOG does NOT give buy or sell.
Saleem
Internals of the market were "much weaker"......more like NASDAQ 2.75% slump.....
So..we almost got our much feared 3% correction in a hurry........
S&P 500 closed in support zone of 980 area.......
RSI are as follows in indices after today's pounding :
S&P 500..51.45
Dow.......53.58
Nasdaq..47.85
Sounds like an "oversold condition"
AH futures are green
Nikkei is green
Oil is green
Gold is green
CAD is green
I think all the AH green is saying something.......
VIX reflected today's drubbing it closed UP 14.92% @ 27.89
AH TSL reported a beat which was pre-announced.....UP 50 cents AH
In correction @ elevated levels.....low RSI stock gives you better protection....
BLOG does NOT give buy or sell.
Saleem
Indices Down 1.70% to 2.41%.....NOT bad !!!!!
Markets are taking a cue from Nikkei to Hang Seng to Shanghai where selling was in the range of 3.1% to 5.79%......
European markets are Down from 1.46% to 2.16%
Considering all that.....North American markets are doing relatively better........Down less than 2.5%....
In my portfolio :
Added 30% more POT paid $91.93.....
Portfolio is POT,SOL,RIMM,RVBD......
S&P 500 staying above 980 support area...which IS good.......
I believe there is buying on the dip going on..........
Close will tell the story........
PS...had to step out for some chores so post was delayed.....
BLOG does NOT give buy or sell.
Saleem
European markets are Down from 1.46% to 2.16%
Considering all that.....North American markets are doing relatively better........Down less than 2.5%....
In my portfolio :
Added 30% more POT paid $91.93.....
Portfolio is POT,SOL,RIMM,RVBD......
S&P 500 staying above 980 support area...which IS good.......
I believe there is buying on the dip going on..........
Close will tell the story........
PS...had to step out for some chores so post was delayed.....
BLOG does NOT give buy or sell.
Saleem
Sunday, August 16, 2009
How Option expiry this week will play out......
Option expiry always brings many historical interpretations & FEAR for traders......
FEAR is dictated by MM ability to control strike price......
History tells us that OE is generally POSITIVE......
BUT.....history is always made each week/month/ year...so past MAY not be relevant.......
What is my guess????
I will lean towards positive close for the week.....WHY do I think so????
Because....we had every opportunity to go down substantially...but we recovered nicely on Friday......
Message of the market is .....UP
AGAIN...we have MANY hedge funds positioned for weak OE.....
When we start rallying against the odds...then there will be a PANIC to cover short position AGAIN.....
Thus a STRONG/UP week in my "crystal ball"
As we are ELEVATED..it is PRUDENT to know IF your stocks are positioned to move UP...for that check recent TAPE.....
Some stocks are staying strong throughout this rally......BUT MAY be getting extended..so a basing period MAY be in order.....
Many stocks have stayed near their JUNE prices...so they have based for 75 days and MAY be ready to EXPLODE UP.......so Check charts on your holdings.....there IS such a thing as UNDERVALUED/OVERVALUED on a short time frame......
As market TAPE is very strong..it will be WISE to have a long term view of stocks......so position accordingly.....
YES...market CAN/MAY go down 3% in a hurry..BUT the days of 7% to 9% correction MAY not be in cards this week......
I have a strong feeling that this TAPE will take us into new highs easily & MAY surpass some of the so-called resistance numbers being thrown around..like 1040 in S&P 500......my GUESS is that we MAY come near 1100 before any correction sets in.....then MAYBE pullback of 5%......
SO...how to place your bet on a short term & long term basis????
I will look @ forward PE on *my holdings & other strong stocks as taken from http://www.moneycentralmsn.com/
*SOL..12.81
*POT.10.93
*RIMM15.03
*RVBD78.04
AAPL.24.78
IPI....14.38
TSL...10.97
JNPR. 28.30
GOOG21.26
BIDU38.33
FUQI12.92
GS..10.25
BAC.17.74
BX...15.61
C....26.93
GE...15.82
TLM23.41
CHK10.20
Fundamental analysis is extremely important & keep re-visiting your stocks in terms of FA.....once you are comfortable with FA on an ongoing basis then.... turn to TA like RSI,BB,MACD,STOCHASTICS,50DMA etc......
This market HAS been easy for those who believed in fundamental improvement in world economy.....NOT everything is US centric...there are bigger economies @ play like China,India,Brazil,Russia who MAY be calling the shots NOW........
Good luck in your OWN strategy.....no matter how you play it...make sure your comfort level is high all the time.
BLOG does NOT give buy or sell.
Saleem
FEAR is dictated by MM ability to control strike price......
History tells us that OE is generally POSITIVE......
BUT.....history is always made each week/month/ year...so past MAY not be relevant.......
What is my guess????
I will lean towards positive close for the week.....WHY do I think so????
Because....we had every opportunity to go down substantially...but we recovered nicely on Friday......
Message of the market is .....UP
AGAIN...we have MANY hedge funds positioned for weak OE.....
When we start rallying against the odds...then there will be a PANIC to cover short position AGAIN.....
Thus a STRONG/UP week in my "crystal ball"
As we are ELEVATED..it is PRUDENT to know IF your stocks are positioned to move UP...for that check recent TAPE.....
Some stocks are staying strong throughout this rally......BUT MAY be getting extended..so a basing period MAY be in order.....
Many stocks have stayed near their JUNE prices...so they have based for 75 days and MAY be ready to EXPLODE UP.......so Check charts on your holdings.....there IS such a thing as UNDERVALUED/OVERVALUED on a short time frame......
As market TAPE is very strong..it will be WISE to have a long term view of stocks......so position accordingly.....
YES...market CAN/MAY go down 3% in a hurry..BUT the days of 7% to 9% correction MAY not be in cards this week......
I have a strong feeling that this TAPE will take us into new highs easily & MAY surpass some of the so-called resistance numbers being thrown around..like 1040 in S&P 500......my GUESS is that we MAY come near 1100 before any correction sets in.....then MAYBE pullback of 5%......
SO...how to place your bet on a short term & long term basis????
I will look @ forward PE on *my holdings & other strong stocks as taken from http://www.moneycentralmsn.com/
*SOL..12.81
*POT.10.93
*RIMM15.03
*RVBD78.04
AAPL.24.78
IPI....14.38
TSL...10.97
JNPR. 28.30
GOOG21.26
BIDU38.33
FUQI12.92
GS..10.25
BAC.17.74
BX...15.61
C....26.93
GE...15.82
TLM23.41
CHK10.20
Fundamental analysis is extremely important & keep re-visiting your stocks in terms of FA.....once you are comfortable with FA on an ongoing basis then.... turn to TA like RSI,BB,MACD,STOCHASTICS,50DMA etc......
This market HAS been easy for those who believed in fundamental improvement in world economy.....NOT everything is US centric...there are bigger economies @ play like China,India,Brazil,Russia who MAY be calling the shots NOW........
Good luck in your OWN strategy.....no matter how you play it...make sure your comfort level is high all the time.
BLOG does NOT give buy or sell.
Saleem
Saturday, August 15, 2009
BUY rated stocks for " New 09 HIGHS" !!!
Following stocks are flashing BUY signal.Please do your OWN due diligence by checking FA/TA/TAPE.
OTEX,NEM,RMBS,GRRF,HMY,WIRE,ICO,RUTH,
SNS,DELL,WAG,LOGI,ASX,BAC,CCJ,MGM,TIF,
OXPS,VRSN,OPWV,SWC,ANF.
Next post Sunday by 10AM.
BLOG does NOT give buy or sell.
Saleem
OTEX,NEM,RMBS,GRRF,HMY,WIRE,ICO,RUTH,
SNS,DELL,WAG,LOGI,ASX,BAC,CCJ,MGM,TIF,
OXPS,VRSN,OPWV,SWC,ANF.
Next post Sunday by 10AM.
BLOG does NOT give buy or sell.
Saleem
Friday, August 14, 2009
.82% to 1.19% loss in Indices......
Market were given another day to tumble but fought its way back to a non-event @ close...
Most traders are afraid to be out of this market so they buy on weakness...
VIX closed Down today @ 24.27 Down 1.78%...nobody is looking for downside protection???
Among green stocks were :
RIMM,TSL,STP,CMED,PALM,BAC.......
By 10AM Saturday..I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Most traders are afraid to be out of this market so they buy on weakness...
VIX closed Down today @ 24.27 Down 1.78%...nobody is looking for downside protection???
Among green stocks were :
RIMM,TSL,STP,CMED,PALM,BAC.......
By 10AM Saturday..I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Less than 2% selling from 09 HIGHS.....
Indices are retracing before making another new high for 09......
Indices are falling less than 2% from 09 highs.....
There is a support area just below today's low......990 in S&P 500...IF we break that then 980 area is "strong support"
This IS a market for staying IN.....not PANIC selling near lows....which is sharp & swift....
Consumer confidence number caused the jitter in market.....everything reversed..OIL,GOLD,CAD.....
These pullbacks are necessary for a healthy market....
Oil Down $2.13 to $68.39
Gold Down $1.40
Canadian $ which was UP before turned its tail & is down 67 tick....
Portfolio is POT,SOL,RIMM,RVBD......
@ 12.10 following are green in my watch list :
RIMM,STP,TSL,EGLE,CMED.....
BLOG does NOT give buy or sell.
Saleem
Indices are falling less than 2% from 09 highs.....
There is a support area just below today's low......990 in S&P 500...IF we break that then 980 area is "strong support"
This IS a market for staying IN.....not PANIC selling near lows....which is sharp & swift....
Consumer confidence number caused the jitter in market.....everything reversed..OIL,GOLD,CAD.....
These pullbacks are necessary for a healthy market....
Oil Down $2.13 to $68.39
Gold Down $1.40
Canadian $ which was UP before turned its tail & is down 67 tick....
Portfolio is POT,SOL,RIMM,RVBD......
@ 12.10 following are green in my watch list :
RIMM,STP,TSL,EGLE,CMED.....
BLOG does NOT give buy or sell.
Saleem
Thursday, August 13, 2009
Market internals much stronger than close...NICE !!!
Indices are defying very "confused" pundits who are "mumbling" for words to explain strength in market......Never seen so many people so wrong for so long???
Market internals were stronger than close.....
Market internals were as follows :
UP volume led by NYSE 2.97 to 1..Nasdaq 2.72 to 1
Advancing stocks led by NYSE 1.93 to 1..Nasdaq 1.26 to 1
57 new 52 wk highs in both NYSE & Nasdaq
It feels like as IF we are going to make new 09 highs in indices on Friday....
Strong stocks included POT,SOL,CCJ,IBN,GNK,EGO,RCI,BCE,TLM,
PALM,AAPL,SLW,MRVL,X,CIEN,BAC,BZH,FITB......
AH Futures are GREEN
AH NIKKEI is UP .55%
VIX closed Down 2.91% to 24.71.....staying near lows...means NO fear of market going down....
PS..... Friday is last day of the week when Art Cashin promised a horrible week...I am sure he IS trying very hard to come up with "new excuse" as to why he is wrong AGAIN since March....he MAY not show up for work....????
BLOG does NOT give buy or sell.
Saleem
Market internals were stronger than close.....
Market internals were as follows :
UP volume led by NYSE 2.97 to 1..Nasdaq 2.72 to 1
Advancing stocks led by NYSE 1.93 to 1..Nasdaq 1.26 to 1
57 new 52 wk highs in both NYSE & Nasdaq
It feels like as IF we are going to make new 09 highs in indices on Friday....
Strong stocks included POT,SOL,CCJ,IBN,GNK,EGO,RCI,BCE,TLM,
PALM,AAPL,SLW,MRVL,X,CIEN,BAC,BZH,FITB......
AH Futures are GREEN
AH NIKKEI is UP .55%
VIX closed Down 2.91% to 24.71.....staying near lows...means NO fear of market going down....
PS..... Friday is last day of the week when Art Cashin promised a horrible week...I am sure he IS trying very hard to come up with "new excuse" as to why he is wrong AGAIN since March....he MAY not show up for work....????
BLOG does NOT give buy or sell.
Saleem
Indices GREEN AGAIN.....NICE !!!!
Indices are marching towards..... new 09 highs.......
Jimmy the Cramer ordered the market to go DOWN 3% yesterday....there goes another "market timer" down the drain......
This market is "too strong" to listen to any pundit.......
Even hedge funds are in "big trouble" with their "ongoing new short positions" & taking it on the CHIN daily.....ouch.....
So..why market is going UP.....???
It IS the fundamentals of the economy...which IS improving in a hurry "worldwide"
Roubini & other doomsters cannot read the tea leaf anymore...stuck in 08.....which has been passe for months now......
Gold UP $6.80
Oil UP $1.09 to $71.25
Canadian $ UP 25 tick against US$.....
Portfolio is POT,SOL,RIMM,RVBD......
Most Solar are taking on the chin after downgrade.....SOL seems to be the only exception on an upgrade by Credit Suisse with a target of $7.50..UP 4%++....BUT Jesse Pichel downgrades with a target of $4.....????
Most stocks are UP.
BLOG does NOT give buy or sell.
Saleem
Jimmy the Cramer ordered the market to go DOWN 3% yesterday....there goes another "market timer" down the drain......
This market is "too strong" to listen to any pundit.......
Even hedge funds are in "big trouble" with their "ongoing new short positions" & taking it on the CHIN daily.....ouch.....
So..why market is going UP.....???
It IS the fundamentals of the economy...which IS improving in a hurry "worldwide"
Roubini & other doomsters cannot read the tea leaf anymore...stuck in 08.....which has been passe for months now......
Gold UP $6.80
Oil UP $1.09 to $71.25
Canadian $ UP 25 tick against US$.....
Portfolio is POT,SOL,RIMM,RVBD......
Most Solar are taking on the chin after downgrade.....SOL seems to be the only exception on an upgrade by Credit Suisse with a target of $7.50..UP 4%++....BUT Jesse Pichel downgrades with a target of $4.....????
Most stocks are UP.
BLOG does NOT give buy or sell.
Saleem
Wednesday, August 12, 2009
Nice comeback in indices on higher volume....
All indices made a major run to move UP.....Nasdaq "almost took out the 09 HIGHS"..missed it by 33 tick.......
Indices are showing that they are NOT ready to move lower...wants to go higher by making another series of new highs.......
It is nice to hear the "chorus of naysayers & disbelievers in this rally" & some claiming that there are more bulls?
IF there were more bulls..we will be correcting in a meaningful manner NOT 2% which happened in Nasdaq and it has recouped all of it......
Solar stocks took a pounding after SOL,JASO & LDK reported......strangely SOL was a beat BUT it was shown the door as IF it did NOT guide HIGHER????
AH Futures are GREEN
AH Nikkei is UP .8%
AH Oil is UP 57 cents
BLOG does NOT give buy or sell.
Saleem
Indices are showing that they are NOT ready to move lower...wants to go higher by making another series of new highs.......
It is nice to hear the "chorus of naysayers & disbelievers in this rally" & some claiming that there are more bulls?
IF there were more bulls..we will be correcting in a meaningful manner NOT 2% which happened in Nasdaq and it has recouped all of it......
Solar stocks took a pounding after SOL,JASO & LDK reported......strangely SOL was a beat BUT it was shown the door as IF it did NOT guide HIGHER????
AH Futures are GREEN
AH Nikkei is UP .8%
AH Oil is UP 57 cents
BLOG does NOT give buy or sell.
Saleem
Markets are back in GREEN after 1 day minor selling...NICE !!!!
All indices are UP & ABOVE key round numbers...like 1000 & 2000...after 1 day of minor selling..
It is SMART NOT to listen to Fast Money & Art Cashin.....they guaranteed you a MAJOR selling...Guy Adami has NO clue......
Nasdaq is UP the-most +1.74%.....
Dow & S&P 500 are UP 1.38% area.....
SEC must NOT allow employees of CNBC to OWN any stocks..as they are "front-running" all the time..like Fast Money & Mad Money permanent employees of CNBC ????BUT anything GOES as SEC sleeps @ the switch......
Gold UP 70 cents
Oil UP $1.10 to $70.55
Canadian $ UP 1.29 cents to 92.08 cents US for 1 CAD.....
My portfolio is POT,SOL,RIMM,RVBD.....
SOL reported 5 cents loss vs consensus of 6 cents loss
Sales were $82.6 million vs consensus of $90.23...a miss
Guidance was above consensus Sales to be UP 60% to 70% sequentially...BUT the stock IS down 29 cents or 5.13%......I guess missing Sales number is causing some Hedge funds to get out...so for SOL it is NOT about guidance but looking @ last Q????
JASO ER was a miss Down 65 cents....
LDK ER AH
Most stocks are UP...
@ 2.15 Fed will give its take on US economy.....an expected "non-event"
BLOG does NOT give buy or sell.
Saleem
It is SMART NOT to listen to Fast Money & Art Cashin.....they guaranteed you a MAJOR selling...Guy Adami has NO clue......
Nasdaq is UP the-most +1.74%.....
Dow & S&P 500 are UP 1.38% area.....
SEC must NOT allow employees of CNBC to OWN any stocks..as they are "front-running" all the time..like Fast Money & Mad Money permanent employees of CNBC ????BUT anything GOES as SEC sleeps @ the switch......
Gold UP 70 cents
Oil UP $1.10 to $70.55
Canadian $ UP 1.29 cents to 92.08 cents US for 1 CAD.....
My portfolio is POT,SOL,RIMM,RVBD.....
SOL reported 5 cents loss vs consensus of 6 cents loss
Sales were $82.6 million vs consensus of $90.23...a miss
Guidance was above consensus Sales to be UP 60% to 70% sequentially...BUT the stock IS down 29 cents or 5.13%......I guess missing Sales number is causing some Hedge funds to get out...so for SOL it is NOT about guidance but looking @ last Q????
JASO ER was a miss Down 65 cents....
LDK ER AH
Most stocks are UP...
@ 2.15 Fed will give its take on US economy.....an expected "non-event"
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 11, 2009
Market internals much weaker than close......
Indices @ close were down 1.03% to 1.27%..but internals were much weaker...Declining volume were in the lead by almost 4 to 1.... & Declining stocks leading by almost 2.5 to 1......
S&P is still UP 49.2% from its low back in march..RSI @ 62.78....it is only down 2.55% from its 09 high of 1018......
Nasdaq RSI @ 59.07
Dow RSI @ 64.70
I do NOT view today's decline as anything but normal pullback from 09 high.....Volume today was below average in all indices.....
AH Futures are GREEN
AH Nikkei Down .82%
AH Oil is UP 18 cents
AH AMAT ER was better than expected & guidance was higher stocks UP AH 3.10% on AH volume of 2.37 million shares......Their Solar business is booming....
SOL,JASO reports before open LDK AH.......
PS...post delayed as I had to step out.
BLOG does NOT give buy or sell.
Saleem
S&P is still UP 49.2% from its low back in march..RSI @ 62.78....it is only down 2.55% from its 09 high of 1018......
Nasdaq RSI @ 59.07
Dow RSI @ 64.70
I do NOT view today's decline as anything but normal pullback from 09 high.....Volume today was below average in all indices.....
AH Futures are GREEN
AH Nikkei Down .82%
AH Oil is UP 18 cents
AH AMAT ER was better than expected & guidance was higher stocks UP AH 3.10% on AH volume of 2.37 million shares......Their Solar business is booming....
SOL,JASO reports before open LDK AH.......
PS...post delayed as I had to step out.
BLOG does NOT give buy or sell.
Saleem
Indices Down 1.02% to 1.28%....
Selling is pulling the indices down by max 1.28%......not bad considering how far we have come UP.....
Close should bring buyers back in as RSI on all 3 indices are on either side of 60 now..Nasdaq being the weakest now sporting RSI of 58.37.....a BUY point given the market condition.....
Gold Down 70 cents
Oil Down $1.37
Canadian $ Down 85 tick as Canada construction index came in lower than expected.....
My portfolio is POT,SOL,RIMM,RVBD.....
SOL reports before open on Wed... consensus is Sales $90.23 million EPS loss 6 cents......expecting guidance to be way above consensus......
@ 12.10 following are green in my watch list :
RVBD,PALM,BRCD,LULU,MA,NYX,NDN.....
BLOG does NOT give buy or sell.
Saleem
Close should bring buyers back in as RSI on all 3 indices are on either side of 60 now..Nasdaq being the weakest now sporting RSI of 58.37.....a BUY point given the market condition.....
Gold Down 70 cents
Oil Down $1.37
Canadian $ Down 85 tick as Canada construction index came in lower than expected.....
My portfolio is POT,SOL,RIMM,RVBD.....
SOL reports before open on Wed... consensus is Sales $90.23 million EPS loss 6 cents......expecting guidance to be way above consensus......
@ 12.10 following are green in my watch list :
RVBD,PALM,BRCD,LULU,MA,NYX,NDN.....
BLOG does NOT give buy or sell.
Saleem
Monday, August 10, 2009
Lowest volume .4% selling.....
Today was extremely positive close.....as we lost .4% max on lowest volume in non-holiday trading????
Sellers are not in the mood to miss out future UP move by Indices......
Art Cashin of UBS still praying for this week as the-week for sellers taking control.....I admire him for his stubborn refusal to take part in this 51%+ move in S&P 500...& CNBC still want his WRONG opinion on a daily basis...Art must be providing"morning comical relief"...
In my portfolio :
Bought RVBD back...paid $20.25
Portfolio is POT,SOL,RIMM,RVBD
If I sell any share..I always post here ......
AH Futures are GREEN
AH Gold is UP
AH OIL is UP
AH Canadian $ is UP
AH Nikkei is UP
Must be a sign that we MAY see GREEN on Tuesday......
Strong stocks included FNM,FRE,STP,TSL,ENER,ABK,IPI.....
BLOG does NOT give buy or sell.
Saleem
Sellers are not in the mood to miss out future UP move by Indices......
Art Cashin of UBS still praying for this week as the-week for sellers taking control.....I admire him for his stubborn refusal to take part in this 51%+ move in S&P 500...& CNBC still want his WRONG opinion on a daily basis...Art must be providing"morning comical relief"...
In my portfolio :
Bought RVBD back...paid $20.25
Portfolio is POT,SOL,RIMM,RVBD
If I sell any share..I always post here ......
AH Futures are GREEN
AH Gold is UP
AH OIL is UP
AH Canadian $ is UP
AH Nikkei is UP
Must be a sign that we MAY see GREEN on Tuesday......
Strong stocks included FNM,FRE,STP,TSL,ENER,ABK,IPI.....
BLOG does NOT give buy or sell.
Saleem
Indices barely red..down .34%....NICE !!!!
Indices are fighting profit taking after huge runup.....
Currently indices are down less than .34%....
It seems that we are setting UP for a rally by close.....
Laura Tyson making positive comments about US economy coming out of recession.....
Gold Down $11....
Crude UP 20 cents
Canadian $ down 22 tick against US$
My portfolio is POT,SOL,RIMM ( UBS downgraded to neutral with a target decrease from $90 to $88)
@ 12.07 following are green in my watch list :
TSL( double upgrade & target increase to $38),STP,IPI,RVBD,TLM,
EBAY,CSIQ,FMCN,C,JRCC,WYNN,BIDU,LVS,SNE,VAR,FWLT,AGU.
BLOG does NOT give buy or sell.
Saleem
Currently indices are down less than .34%....
It seems that we are setting UP for a rally by close.....
Laura Tyson making positive comments about US economy coming out of recession.....
Gold Down $11....
Crude UP 20 cents
Canadian $ down 22 tick against US$
My portfolio is POT,SOL,RIMM ( UBS downgraded to neutral with a target decrease from $90 to $88)
@ 12.07 following are green in my watch list :
TSL( double upgrade & target increase to $38),STP,IPI,RVBD,TLM,
EBAY,CSIQ,FMCN,C,JRCC,WYNN,BIDU,LVS,SNE,VAR,FWLT,AGU.
BLOG does NOT give buy or sell.
Saleem
Sunday, August 9, 2009
S&P 500 heading towards 1300 area ?...YES !!!!
Crystal ball gazing is a good thing when it comes to S&P 500.......
S&P 500 is back @ where it was in Oct 08......
In October of 08 we had PLUNGED from 1576.09 in Oct 07...so 12 months of relentless selling gave us a chilling plunge of 565.61 points in S&P 500 or a steep loss of 35.89%...but we proceeded to lose another 343.69 points or another 34.01%.......so peak 1576.09 to trough 666.79 a horrendous drop of 909.30 points or 57.69%.......
BUT all that is history...the biggest bear market since depression.....once in 70+ years phenomenon.......
NOW...we are in reverse mode...
& it will be no less spectacular than anything we have seen since last depression....
1300 area is the only logical resistance ...IF you look @ 1 year chart......
So there is a very good chance that we climb the wall of worry to 1300 against all odds.....
You may ask what are the odds.....a nagging fear that economic recovery MAY fail.....which is prompting MANY to be underweight stock market and are parked in money market/treasury bills......
It is very evident that underweight in stocks are prompting a SUSTAINED UP move in markets......as buyers step IN on any pullback.......
1300 in S&P 500 MAY come by year-end with minor pullbacks along the way.......as we have seen recently range of pullbacks have been in 2% to 9% range...so be READY for that all the time..
The problem with these minor indices pullbacks.... is that there are much larger pullback in individual stocks..sometimes DOUBLE of indices which SHAKES your confidence in staying put.....
I was expecting a pullback of 7% last week BUT we got only 2% on Nasdaq.....which has all been erased......
While Nasdaq pulled back S&P 500 & Dow outperformed & barely budged from their highs...this CONTRARY tape forced me back in a hurry....
It is extremely IMPORTANT to follow TAPE and react quickly to make money......
I have learned over the years to "never fight the TAPE" & do follow its trend...sometimes in a hurry by monitoring resistance/support...
It is OK to be proven WRONG by TAPE...BUT it is NOT OK to resist TAPE...so CHANGE your mind QUICKLY...which I always DO......
Sometimes TAPE CAN mislead you in selling quickly...BUT if you are locking profit in that process nothing is lost..even when you are WRONG for 2 days......
Nobody CAN predict how high market will go in a short time span or how low it will go in a short span.....BUT TREND CAN be spotted based on sentiment in media.....CONTRARY trend is working these days...the more SKEPTIC pundits ARE...HIGHER we go.......
Now the question IS ....how I am positioning in this market?
As you all KNOW that I monitor RSI for most of my trading decision......
I have a phobia of NOT staying when RSI hit 70 in stocks generally speaking...when I have NOT followed this..I have suffered loss..so always REGROUP with RSI in FOCUS......
Here is the RSI on *my holdings & other strong stocks:
*POT...53.77
*SOL...51.46
*RIMM.56.79
AAPL..75.37
AGU...67.43
TSL...56.00
CSIQ..71.72
BIDU..60.97
FUQI..66.34
GS....59.73
GE....76.43
BAC..75.00
C.....72.49
GOOG65.70
MA..78.88
When I do analyze all these RSI numbers..I AM forced to think..That I should revise my formulae & NOT be concerned about high RSI...GIVEN the market condition..which IS in major UPTREND.....
So here IS my new RSI learning based on Market conditions......
So never stop adjusting to the "new realities"
To make money in markets one needs to be flexible.
BLOG does NOT give buy or sell.
Saleem
S&P 500 is back @ where it was in Oct 08......
In October of 08 we had PLUNGED from 1576.09 in Oct 07...so 12 months of relentless selling gave us a chilling plunge of 565.61 points in S&P 500 or a steep loss of 35.89%...but we proceeded to lose another 343.69 points or another 34.01%.......so peak 1576.09 to trough 666.79 a horrendous drop of 909.30 points or 57.69%.......
BUT all that is history...the biggest bear market since depression.....once in 70+ years phenomenon.......
NOW...we are in reverse mode...
& it will be no less spectacular than anything we have seen since last depression....
1300 area is the only logical resistance ...IF you look @ 1 year chart......
So there is a very good chance that we climb the wall of worry to 1300 against all odds.....
You may ask what are the odds.....a nagging fear that economic recovery MAY fail.....which is prompting MANY to be underweight stock market and are parked in money market/treasury bills......
It is very evident that underweight in stocks are prompting a SUSTAINED UP move in markets......as buyers step IN on any pullback.......
1300 in S&P 500 MAY come by year-end with minor pullbacks along the way.......as we have seen recently range of pullbacks have been in 2% to 9% range...so be READY for that all the time..
The problem with these minor indices pullbacks.... is that there are much larger pullback in individual stocks..sometimes DOUBLE of indices which SHAKES your confidence in staying put.....
I was expecting a pullback of 7% last week BUT we got only 2% on Nasdaq.....which has all been erased......
While Nasdaq pulled back S&P 500 & Dow outperformed & barely budged from their highs...this CONTRARY tape forced me back in a hurry....
It is extremely IMPORTANT to follow TAPE and react quickly to make money......
I have learned over the years to "never fight the TAPE" & do follow its trend...sometimes in a hurry by monitoring resistance/support...
It is OK to be proven WRONG by TAPE...BUT it is NOT OK to resist TAPE...so CHANGE your mind QUICKLY...which I always DO......
Sometimes TAPE CAN mislead you in selling quickly...BUT if you are locking profit in that process nothing is lost..even when you are WRONG for 2 days......
Nobody CAN predict how high market will go in a short time span or how low it will go in a short span.....BUT TREND CAN be spotted based on sentiment in media.....CONTRARY trend is working these days...the more SKEPTIC pundits ARE...HIGHER we go.......
Now the question IS ....how I am positioning in this market?
As you all KNOW that I monitor RSI for most of my trading decision......
I have a phobia of NOT staying when RSI hit 70 in stocks generally speaking...when I have NOT followed this..I have suffered loss..so always REGROUP with RSI in FOCUS......
Here is the RSI on *my holdings & other strong stocks:
*POT...53.77
*SOL...51.46
*RIMM.56.79
AAPL..75.37
AGU...67.43
TSL...56.00
CSIQ..71.72
BIDU..60.97
FUQI..66.34
GS....59.73
GE....76.43
BAC..75.00
C.....72.49
GOOG65.70
MA..78.88
When I do analyze all these RSI numbers..I AM forced to think..That I should revise my formulae & NOT be concerned about high RSI...GIVEN the market condition..which IS in major UPTREND.....
So here IS my new RSI learning based on Market conditions......
So never stop adjusting to the "new realities"
To make money in markets one needs to be flexible.
BLOG does NOT give buy or sell.
Saleem
Saturday, August 8, 2009
BUY rated stocks for " New HIGHS" !!!
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
RCL,AEO,NYX,ZBRA,AZK,JEC,PTEN,LTD,FWLT,
BKC,ADSK,BBBY,BUCY,CNTF,CUTR,CWTR,EXTR,
JDSU,KNOT,BID,FL,KTC,LVS,PIR,TMX,TWB,NXY.
Next post Sunday by 10AM.
BLOG does NOT give buy or sell.
Saleem
RCL,AEO,NYX,ZBRA,AZK,JEC,PTEN,LTD,FWLT,
BKC,ADSK,BBBY,BUCY,CNTF,CUTR,CWTR,EXTR,
JDSU,KNOT,BID,FL,KTC,LVS,PIR,TMX,TWB,NXY.
Next post Sunday by 10AM.
BLOG does NOT give buy or sell.
Saleem
Friday, August 7, 2009
Highest close of 09 for S&P 500 & Dow....NICE !!!
Higher highs are the mantra for S&P 500 & Dow...Nasdaq missed it by 3 points......Nasdaq only 15 points away from taking 09 highs......
Volume was heavy in S&P 500 & Dow...Nasdaq was slightly less than yesterday...still above average.....
US$ staged a technical bounce...Gold ,Oil & CAD took a rest......
Some techs took a rest today & were negative @ close?????
VIX closed @ 24.76 Down 3.54%.....
Strong stocks were AAPL,GOOG,NDAQ,ISRG,BIDU,MA,
ICE,BZH,LEN,LULU,CTRN.....
By 10 AM Saturday..I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Volume was heavy in S&P 500 & Dow...Nasdaq was slightly less than yesterday...still above average.....
US$ staged a technical bounce...Gold ,Oil & CAD took a rest......
Some techs took a rest today & were negative @ close?????
VIX closed @ 24.76 Down 3.54%.....
Strong stocks were AAPL,GOOG,NDAQ,ISRG,BIDU,MA,
ICE,BZH,LEN,LULU,CTRN.....
By 10 AM Saturday..I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Dow & S&P 500 making new highs for 09...NICE !!!
Markets are celebrating first drop in unemployment rate since April of 08....to 9.4%..which caught everyone by surprise...Wall St loves surprises like that......as everyone was expecting a jump to 9.7%....
S&P 500 is trading @ new 09 high...so much for double top in S&P 500 @ 1005.....there is a good chance that now we head to 1050 in S&P 500......Dow also jumped to 09 high today !!!!
Gold Down $2.40
Oil UP 16 cents
Canadian $ is taking a hit Down 58 tick as Canadian Job loss was higher than consensus....
In my portfolio :
Sold RVBD
Bought 40% more POT @ $98.43.....
Portfolio is highly concentrated POT,SOL,RIMM......
@ 12.12 following stocks are strong in my watch list :
RIMM,RVBD,AAPL,JNPR,BAC,C,CTRN,LULU,
NDAQ,WYNN,MA,BIDU,LVS,NYX,FSLR,ISRG,
ICE,FWLT,TLM,AMZN,GOOG,GE,NVDA.
BLOG does NOT give buy or sell.
Saleem
S&P 500 is trading @ new 09 high...so much for double top in S&P 500 @ 1005.....there is a good chance that now we head to 1050 in S&P 500......Dow also jumped to 09 high today !!!!
Gold Down $2.40
Oil UP 16 cents
Canadian $ is taking a hit Down 58 tick as Canadian Job loss was higher than consensus....
In my portfolio :
Sold RVBD
Bought 40% more POT @ $98.43.....
Portfolio is highly concentrated POT,SOL,RIMM......
@ 12.12 following stocks are strong in my watch list :
RIMM,RVBD,AAPL,JNPR,BAC,C,CTRN,LULU,
NDAQ,WYNN,MA,BIDU,LVS,NYX,FSLR,ISRG,
ICE,FWLT,TLM,AMZN,GOOG,GE,NVDA.
BLOG does NOT give buy or sell.
Saleem
Thursday, August 6, 2009
Nasdaq closed weak again on heavy volume......
Nasdaq is down 2.1% from its recent high of 2015.59..today we closed @ 1973.16....
Dow & S&P 500 are showing better TAPE relatively speaking......which IS a good contrary indicator...means that all indices are NOT showing equal weakness.....
Nasdaq has been the first to show relative strength..so it is basing for a next move UP.....
Friday is our much awaited Jobs report...consensus is a loss of 300,000 and unemployment uptick to 9.7%.....
I have a feeling that job loss will come with a digit 2.....so it will be less than consensus...GS came out with a number of 250,000.....they MAY be close to the real number.......
Once this Job report is out..market will do what it wants to do.....go UP or go Down slightly as has been the case lately......
This Job report MAY not turn out to be the catalyst which most traders are expecting it to be....almost like a non-event......
In my portfolio :
Sold SU...for a breakeven trade to BUY RIMM which was being sold off..added 42% more RIMM @ $77.37.....I am always looking for a comparatively better trade idea going forward.....
Portfolio is POT,SOL,RIMM,RVBD......
IPI ER was a miss of 4 cent..nothing unusual as POT also missed by a mile in its report...AH IPI Down $1.20 on 13,767 shares....all potash stocks are ready to rebound in Q3 which is current Q....
NVDA ER was a BEAT & is UP $1.18 on 2.10 million shares....
AH Futures are all GREEN.....
AH Nikkei is Down .55%
BLOG does NOT give buy or sell.
Saleem
Dow & S&P 500 are showing better TAPE relatively speaking......which IS a good contrary indicator...means that all indices are NOT showing equal weakness.....
Nasdaq has been the first to show relative strength..so it is basing for a next move UP.....
Friday is our much awaited Jobs report...consensus is a loss of 300,000 and unemployment uptick to 9.7%.....
I have a feeling that job loss will come with a digit 2.....so it will be less than consensus...GS came out with a number of 250,000.....they MAY be close to the real number.......
Once this Job report is out..market will do what it wants to do.....go UP or go Down slightly as has been the case lately......
This Job report MAY not turn out to be the catalyst which most traders are expecting it to be....almost like a non-event......
In my portfolio :
Sold SU...for a breakeven trade to BUY RIMM which was being sold off..added 42% more RIMM @ $77.37.....I am always looking for a comparatively better trade idea going forward.....
Portfolio is POT,SOL,RIMM,RVBD......
IPI ER was a miss of 4 cent..nothing unusual as POT also missed by a mile in its report...AH IPI Down $1.20 on 13,767 shares....all potash stocks are ready to rebound in Q3 which is current Q....
NVDA ER was a BEAT & is UP $1.18 on 2.10 million shares....
AH Futures are all GREEN.....
AH Nikkei is Down .55%
BLOG does NOT give buy or sell.
Saleem
Indices Down .40% to 1%.....
Markets are in a "wait & see mode" for Jobs report on Friday....
My guess is that Jobs report will be "bullish" for market.....
RSI of 63.56 has come down for Nasdaq in a big way.....which is healthy...
Market needed a rest before moving UP again......Last 3 days has been flattish which is healthy after a huge RUNUP...
This pullback will bring buyers again...close should be interesting AGAIN.....
Gold UP $1.10
Oil Down $1.07 to $70.90
Canadian $ Down 62 tick.....to 92.83 US for 1 CAD
Portfolio is POT,SOL,RIMM,RVBD,SU....
CSIQ had a huge BEAT in ER.....49 cents EPS vs consensus of loss of 9 cents...also raising guidance for the full year.....
IPI reports AH.....expecting a BEAT in EPS......
@ 12.26 following are green in my watch list :
SOL,EBAY,EGO,CSIQ,FMCN,C,CTRN,CCJ,
WYNN,LVS,SOHU,SNE,VAR,GE,AMTD,V.
BLOG does NOT give buy or sell.
Saleem
My guess is that Jobs report will be "bullish" for market.....
RSI of 63.56 has come down for Nasdaq in a big way.....which is healthy...
Market needed a rest before moving UP again......Last 3 days has been flattish which is healthy after a huge RUNUP...
This pullback will bring buyers again...close should be interesting AGAIN.....
Gold UP $1.10
Oil Down $1.07 to $70.90
Canadian $ Down 62 tick.....to 92.83 US for 1 CAD
Portfolio is POT,SOL,RIMM,RVBD,SU....
CSIQ had a huge BEAT in ER.....49 cents EPS vs consensus of loss of 9 cents...also raising guidance for the full year.....
IPI reports AH.....expecting a BEAT in EPS......
@ 12.26 following are green in my watch list :
SOL,EBAY,EGO,CSIQ,FMCN,C,CTRN,CCJ,
WYNN,LVS,SOHU,SNE,VAR,GE,AMTD,V.
BLOG does NOT give buy or sell.
Saleem
Wednesday, August 5, 2009
Minor pullback on heavier volume......
Market took a breather on heavier volume.....Nasdaq showed real weakness based on internals where decliners held a convincing lead....Nasdaq Down volume also were in the lead....last 3 days Nasdaq has lagged S&P 500......
AH CSCO had a beat by 2 cents on EPS while Sales were in-line...guidance was in-line also thus a sharp selling in AH where 9.93 million shares were traded and it was down another 3.43%.....
CSCO ER will NOT be a factor in Thursday's trading as it is a stock specific reaction.....
AH Futures are mixed....with Nasdaq Down 6.14..major improvement from down 11+
AH Nikkei is UP .57%....
VIX closed @ 24.90 UP .04%..a sign that this rally is NOT over yet.......
Strong stocks included AIG,BAC,C,POT,AGU,IPI,RIMM,ICE,GRMN....
BLOG does NOT give buy or sell.
Saleem
AH CSCO had a beat by 2 cents on EPS while Sales were in-line...guidance was in-line also thus a sharp selling in AH where 9.93 million shares were traded and it was down another 3.43%.....
CSCO ER will NOT be a factor in Thursday's trading as it is a stock specific reaction.....
AH Futures are mixed....with Nasdaq Down 6.14..major improvement from down 11+
AH Nikkei is UP .57%....
VIX closed @ 24.90 UP .04%..a sign that this rally is NOT over yet.......
Strong stocks included AIG,BAC,C,POT,AGU,IPI,RIMM,ICE,GRMN....
BLOG does NOT give buy or sell.
Saleem
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