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
9 comments:
Saleem,
You are the best analyst that I think Art Cashin, Roubini, Pimco & Robert Prechter should learn. You predicted the market pulling back but if it did not pull back then jumped back in right away to catch the trend up. I followed your guidance, sold 50% of my profile and jumped back in 100% to catch the trend up when you said it was all clear. I lost so much $$$ last year and this year I gained back (not yet to break even point). Thanks to you, Madmax, Standards, and others have contributed the best trading blog.
I used to listen to CNBC and their guidance and kept loosing $$$. Now I stopped listen to them and only check your blog for guidance. Thanks and wish you all the best.
Michael
Hi Michael,
Thank you so much for your thoughtful feedback.
One thing I have learned that it is smart to keep monitoring key indicators...IF they are acting WOBBLY...get out & see if they pan out...IF NOT jump back IN.....
It does NOT take me long to figure out IF technicals are repairing quickly.....
So the bottom line is ..I never try to predict but follow key technical & fundamental reasons...
It is pretty good to get most of the RUNUP...all one have to do is do your OWN due diligence !!!
Saleem
Hi Micheal,
Thanks, just trying to make a buck myself on a consistent basis. With BDI falling, I cannot see GNK moving higher except being dragged up by the general market. We may get a better entry point in the future.
Best Regards
Michael and Standards
It takes us all to make a great blog
Saleem is an amazing guy! yahoo
Look for Citi, FNM , and AAPLE to bust a lot higher $$$$$$
Best regards
Hi Madmax,
BLOG belongs to all visitors & participants...
There are many contributors to this BLOG with varying trading/investing styles....
Each visitor has to find their OWN comfort level with our feedback...which is based on being helpful.....
In the end it is our own hard earned money which we have to watch for.....
Saleem
Hello to all. I read with interest the comendations Saleem received today. I too, am an avid reader of Saleems opines. One thing I have noticed is that he tends to be a cheerleader all the way down the curve as is evident by his own remarks. For example, at several plateaus of the DJIA, here is what the blog headlines were: 12/31/07 "The selloff is almost over!!!" The DJIA was at 13,264. On 5/28/08, the headline read "S&P 500 closed at 1390 today!!! The DJIA had slid to 12,594. On 8/27/09, the headline read "Oil down, Dow up triple digits!!!" The cheerleading and optimism during a sliding market continued into the lowpoint in March 2009. While Saleem is very bullish, my point is that he isn't calling the overall market accurately so you must not get caught up in his overexuberance. What I have noticed and do follow is that Saleem has an uncanny skill for analyzing and picking the individual equities. That said, as Saleem always says- do your own due diligence! Thanks Saleem.. keep up the good work.
Hi David,
Thank you so much for your feedback.
I am an optimist by nature... being a Taurus helps me even in challenging conditions.
Last year was the biggest slump in 70 year history of wall street..after depression nothing came close......
I alongwith everybody in the entire universe could not have anticipated this once in a lifetime phenomenon....
Even though nobody was aware what was happening...I tried to use all my fundamental & technical skills to read the market while it was crashing from 1576 to 666 in S&P 500 a stunning 58% decline from Oct 07 to to March 09......
I do not know of anyone who could have predicted this kind of carnage...this includes World Bank,Fed & all central banks alongwith their super-computers & army of analysts.......even mighty know it all GS suffered enough to ask for bailout from Fed & Warren Buffett...
But I enjoyed trying to give a helping hand to traders/investors who cared for an interpretation in an impossible slump......
Saleem
Saleem,
please don't interpret my message in the wrong way. We always need optimism and intelligence which you have both. My only point was that some of the comments seem to appear that they are avid followers of every move. Im sure you agree that is wrong. Nobody knows all of the answers at any point in time. Avid due diligence, as you put across, regardless of your blog is the right thing to do. That said, With my own due diligence, I thank you again for all you do :-)
Hi David,
Thanks for your further feedback.
Your focus on due diligence is always reinforced in all my buy list & daily blog content.
Yes..one must follow their own comfort level.....
I appreciated your kind words.
Saleem
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