Nasdaq closed @ the highest point of 09.......
Internals of Nasdaq are forcing me to RETHINK my strategy......
Here is the stat on the day of highest close :
UP volume 400 vs Down volume of 332
Advancing stocks led by 1506 to Declining volume of 1148
Nasdaq was UP the least of major indices.....
New 52 wk high 146.....
NOT a very convincing TAPE on Nasdaq.....which has led this market recovery.....
So i have REDUCED my exposure to market by 35% in AH...
Sold RIMM AH to book a GAIN of $5++++per share
This is just for my comfort level and my personal take of the TAPE.....
Who knows..we MAY still go in overdrive for month end..BUT it MAY be DICEY in the meantime......
I intentionally posted after AH closed..because I do NOT want to influence anyone with my reduced exposure......
AH Futures are RED
AH OIL is RED....
AH Gold UP
AH Silver UP
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
Nice play on RIMM!
Best Regards
Hi Saleem,
BDI -72 trending lower
For those following shipping, BDI is important.
Best Regards
HELLO
Saleem
Market is GREEN!
Congratulations on RIMM--WOW! How many shares did you sell
Slow money says do not fight the tape we are going higher from here---yes they switched positions....
GE is up pre market , GS, BMY, APPL and SOL.
FRO is up a buck I think the shippers are up on anticipation of recovery?
Best to all
Standards still own Visa?
Hello again
Tanker newsGrowth in oil production to spark rates rebound...
http://www.lloydslist.com/ll/news/growth...
Suezmax rates poised for upswing...
http://www.lloydslist.com/ll/news/suezma...
China tops Asia's crude importer list...boosts tonne-mile demand...
http://www.lloydslist.com/ll/news/china-...
Hi Standards/C,
Thanks for your feedback re RIMM...RIMM was 35% of my portfolio so had to lock profit instead of risking it.
Saleem
Hi C,
Fast Panic Money traders have NO game plan...they change it every 5 minutes....generally they dont get it right..so use them as contrary indicator....
Saleem
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