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
4 comments:
SALEEM
A very good wrap up for todays action!
I can not wait to see how CNBC spins it.
Also j the Cramer should also be good
Oil dropped a lot they are saying we got a double top in oil! More drop to come ???
Any way this is so much fun compared to last year when we tumbled every day almost.
I hope health care does not pass--by he way how do you perceive Canadian Health care?
The very best week end to all
Hi Madmax,
TAPE never lies...pundits DO....
Oil is rangebound...$60 to $73...so you have to position accordingly....
Canada is very different than US...i have the chance to live in both society....
US is Capitalistic society & Canada is a more into taking care of its citizen society...so we pay more in taxes to pay for social benefits..our gasoline is double of US as it is heavily taxed....
Every democracy decides how they want to live & what they will accept in terms of CHANGE !!!!
Saleem
Hello everyone,
I am fully in the market at the end of today.....traded all cash for stocks.
I am hoping for atleast a solid week ahead....lets see what happens.
Cheers,
Hi Speed,
Fully invested MAY not be a bad idea @ low point today...
Good luck in your strategy !!!!
Saleem
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