We had 3 days of relentless selling where internals were way weaker than closing numbers...yesterday Down volume led almost 10 to 1.....
Looks like S&P 500 wants to make a stand above 1035...which will be good for bulls...Currently we are down 3.5% from absolute high of 1080.15...RSI is 53.83...a buy zone
Oil Down 30 cents
Gold Down $10.80
Canadian $ Down 30 Tick
Portfolio is GSS,HL,SOL,COMS,MRVL,POT,HOU.TO...
@12.32 following are green :
GSS,LSI,FMCN,CTRN,WYNN,LVS,VLO,
SPWRA,FSLR,ISRG,SNE,SINA,PALM.
RIMM got many downgrades including GS which went from conviction buy to neutral with a target of $73 from $96
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Not sure why the RIMM roast going on. From what I understand, they would have beat except for the one time charges due to the law suit. Were the sales figures out of line? Analysts pumped this company, now they roast!
Best Regards
Hi Standards,
Q2 sales was a miss.....
RIMM guidance for Q3 was also a miss on sales & EPS.....
RIMM cannot have 3 items below consensus & expect to survive in this frothy market.
$65 MAY offer support????
Saleem
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