Wednesday, August 19, 2009

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

4 comments:

standardshigh said...

Hi Saleem,

BDI down -90 2619 weakness

Best Regards

Stocks100 said...

Hi Standards,

Thanks for BDI info.....EGLE & GNK are green???

Saleem

standardshigh said...

Hi Saleem,

GNK heading much lower. Maybe we can pick it up in the low teen's for the next round. BUCY got upgraded, target 41, may not make it for awhile. Better to get it on pullback into 20's. I'm still covered at 32 for Friday.

Best Regards

Stocks100 said...

Hi Standards,

Thanks for your take on GNK & BUCY..

Great strategy for covered write on your portfolio...

Hve not done any FA/chart analysis on BUCY....will do soon !!!

Saleem