Markets were going through TYPICAL fed day downdraft and then find reasons to go green.....expect MAJOR volatility @ 2.15 PM which MAY continue till 330PM.....
Gold Down $5.50
OIL Down $2.75
Canadian $ Down 24 tick as Deputy Governor of Canadian Central Bank is talking Canadian $ Down AGAIN.......
In My portfolio :
Bought back POT covered write @ $2.70...net profit of $2.30 per share.....
Bought HOU.TO..a double bull in Nymex crude..paid $8.08
Portfolio is GSS,HL,SOL,POT,HOU.TO,COMS......
@ 12.19 following are green :
RIMM(short covering by Cramer cronies & BREAKOUT),AAPL,
SOL,COMS,MRVL,SINA,FMCN,NTES,CTRN,BIDU,SOHU,CMED,
ISRG,GS,GOOG,RVBD.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hi SAleem
Nice move on POT
I think POT's price is a good entry here
I still like BMY, GE and GS and my APPLE is defining all reality go apple
I like HAL, UPL, XTO and RRC here..
regards
Hi C,
POT has built a nice base & has stayed ABOVE 200 DMA on warning day..which is technically significant.
I am glad that your stocks are making you money.
Saleem
Hi Saleem
Market fly now:
WASHINGTON (AP) -- With the economy on the mend, the Federal Reserve on Wednesday said it is slowing the pace of a program to lower mortgage rates and prop up the housing market.
The Fed says it will stretch out its goal of buying $1.45 trillion in mortgage-backed securities and debt issued by Fannie Mae, Freddie Mac and Ginnie Mae until the end of the first quarter of 2010. Originally, the central bank intended to complete buying those securities by the end of this year.
In a more upbeat assessment, the Fed says: "Economic activity has picked up following its severe downturn."
The Fed also decided to hold a key bank lending rate at a record low near zero, and again pledged to keep rates there "for an extended period." Economists predict that means through the rest of this year, and perhaps into part of next year.
Hi C,
YES...market liking what fed is saying.....
Saleem
Hi Saleem
Sold my AAPL shares
the market sell off got me
I am hoping to get back in on a drop in share price
Slow Money said APPL was good to $200-so I sold do the opposite of the idiots.
COMS held strong today
C
Hey All,
What was that sell off at 2 pm? Any cause? It looked fast on the futures chart......BDI down.
Best Regards
Hi C,
None of us can time the market or sell stocks @ highest point....but booking profit NEVER hurts.
Saleem
Hi Standards,
Sell on the news is an old wall street tradition.....
RSI hit FROTHY level mid-day..so selling came into vogue....
Saleem
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