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
6 comments:
SALEEM
Good day sir
Hello to all Bloggers!
Market is looking to go up today Europe is up and green!
GS and GE and RIMM took a good hit the past week, time for some payback
Regards
SHIPPER DISCUSSION BOARD:
DSX earned 47 cents and sells for $13.40; DRYS earned 35 cents and sells at $6.43; NM earned 12 cents and sells for $4.94; SBLK earned 13 cents and sells for $3.57; GMR earned 34 cents and sells for $8.77; EXM earned -18 cents and sells for $7.69; EGLE earned 37 cents and sells for $5.43; FREE earned 29 cents and sells for $1.75
Q2 results are not all in, but FREE seems undervalued. If FREE earns 20 cents or more, FREE is a $4 stock. FREE results to be announced on August 26. FREE at $1.75 is a steal.
Hi Madmax,
Thanks for your optimistic take on today.....
Great analysis of shippers ER....
Saleem
Hi Saleem,
SOL results look promising. As the cost to produce declines the revenues will rise. Next year is the year.
Best Regards
Hi Standards,
For SOL Q3 is a major turning point...
Guidance was very good....BUT MM playing for some hedge funds who were short SOL???
Saleem
SALEEM
Good evening to all: GS is going up Please read:
bought 2 million shares of GS in Q2, giddy up!
By Saijel Kishan
Aug. 12 (Bloomberg) -- Paulson & Co., the hedge-fund firm run by billionaire John Paulson, bought Goldman Sachs Group Inc. and Bank of America Corp. stock in the second quarter, while adding to stakes in gold companies.
Paulson bought 168 million shares of Charlotte, North Carolina-based Bank of America valued at $2.2 billion as of June 30, according to a filing today with the U.S. Securities and Exchange Commission. It was his biggest new purchase in the second quarter and made him the bank’s fourth-largest owner. Paulson also bought 2 million shares of Goldman Sachs in the period.
Paulson became the largest holder of Johannesburg-based gold producer AngloGold Ashanti Ltd. after buying 40 million shares to end the quarter with a 12 percent stake. He also increased his stake in Johannesburg-based Gold Fields Ltd., becoming the third-largest owner of its U.S.-listed shares.
Stefan Prelog, a spokesman for Paulson, declined to comment on the filing.
Paulson reduced his stake in Market Vectors Gold Miners ETF, a fund that mirrors moves in the Amex Gold Miners Index, after selling 11 million shares. He owned a 5.3 percent stake in the fund in the second quarter valued at $227 million, down from 15 percent in the first three months of the year.
Paulson left unchanged his 9 percent stake in the SPDR Gold Trust, an investment fund that buys gold bullion, and a 4.4 percent stake in mining firm Kinross Gold Corp., according to the filing.
Money managers who oversee more than $100 million in equities must file a Form 13F within 45 days of each quarter’s end to list their U.S.-traded stocks, options and convertible bonds. The filings don’t show non-U.S. securities or how much cash the firms hold.
To contact the reporter on this story: Saijel Kishan in New York at skishan@bloomberg.net;
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