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
4 comments:
Hi All,
BDI - 66 2623 going down.
Best Regards
Hi Standards,
I hear BDI down 9 days in a row....overdone on the downside???
Saleem
Hi Saleem,
No, its an indication of demand. The only demand came from the Chinese stimulus package. The media is pumping a recovering economy. Without consumer buying, the economy is really stalled and slanted downward. Are we at the bottom or end of recession? We need to see the GDP numbers going up. Consumers tight fisted, can you blame them?
Best Regards
Hi Standards,
Thanks for your rationale for BDI declining.....
Saleem
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