US markets were subjected to profit taking whole day as many traders are getting nervous about losing their profit.......
By close all indices closed near high of the day on heavier volume...which IS a good thing.....
Internals were strong & new 52 week high list expanded today....
This market HAS the feel of another UP move @ hand......
The sign of a bull market IS that new sectors makes new HIGHS..like Gold ,Silver,Copper
Solar came to life today and went UP with major % UP move......
All leading stocks were UP like AAPL,RIMM,POT,GS..which is a sign of strong leadership in market....
AH Futures are mixed...
AH Nikkei is barely RED....
AH Gold is trading above $1000 to $1002..which should lit fire in Gold stocks...
AH Silver is UP .97%..double of Gold
AH CAD is UP......
Market is going UP because too many traders are expecting a pullback...I have a feeling that market will make new HIGHS right into option expiry next week.....because market NEVER follows the same pattern of OE......
BLOG does NOT give buy or sell.
Saleem
6 comments:
SALEEM
Great comment on Blog
thanks
As fro GE it is far from over extended-we had a big volume yesterday and we will see $20, i would think
the spike in volume bodes good for more og an up tick
the action in LVS was awesome--lots of gambling in LV and China--some one knows something --bottom is in?
Regards
Hi Madmax,
Thanks for your appreciative feedback.
GE is looking good...patience will pay off....
LVS has surprised me big time....
Saleem
Hi Saleem,
Heavy PUT options activity in RIMM. September 75's and 70's, big bets on a drop in price by next week. Search on web for article.
Best Regards
Hi Standards,
I saw that in my email from Schaeffersresearch.com closing report.
It makes me more bullish on RIMM as there will be short covering on Sep 24th ER....expecting a BEAT & guide UP from RIMM....
All that put excitement from yesterday and RIMM is down 30 cents today...after being UP 7 days in a row???
Saleem
Hi Saleem,
RIMM is a good swing traders stock. You just have to be right on it's movement because it moves fast. I'm still waiting on a good entry point back towards 70 or 60's. Missed the last entry around 70. SOL is looking GOOOOOD! Go SOL! I would like to see mid teens or higher!
Hi Standards,
RIMM is trending UP....
I follow TAPE and sometimes have to WAIT till it gets higher than my buying price....
RIMM I have traded for 3 years with great success...
Yes SOL is looking good $$$$
CONVICTION is what we all need..as patience IS tested most of the time !!!
Saleem
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