After making series of new 09 HIGHS market took a breather.....indices are acting very jittery one day UP & next day DOWN......
Most of the ER are out and has given lift to the markets....markets are trying to figure out what is the next catalyst???
There may be a lull in the markets for next few weeks then Q4 excitement will take hold again...
Based on Friday's close @1079.60 in S&P 500..we have given back 22.16 points or 2.01% from 09 high.....we may give back another 3% or so before we get a solid support.......1040 area looks like support zone....RSI is 55.26.....in between buy & sell.....
Individual stocks will continue to outperform based on news while others lag or stay down..so now it will become stock picker's market....
I strongly suggest to keep booking profit as they come as getting greedy may not be a good idea @ this stage in markets.......
It will also be unwise to stay out of the market as we will eventually go much higher......
A reduced exposure is what I have done since AAPL ER....I am only 65% invested.....
Here is my $ allocation as of Friday's close :
RIMM 39.52% Tech/Smartphone
AUY 14.43% Gold producer
GNK 13.20% Bulk Dry shipping
BAC 12.89% Bank/Financial
MRVL 13.00% Tech/Supplier to PC & Smartphone
COMS 6.96% Tech/Networking
As you can see that I am diversified in many sectors which reduces downside risk.....
Your comfort level needs to be HIGH @ this stage as CNBC & other media do capitalize with negative bias...it is all about rating/sales..negative slant grips most people....
Economy is on the mend but lot of good news is priced IN.....new sectors may take the leadership role..so keep an eye when stocks move UP.....
PS....I am using windows 7..which is a super operating system HUGE improvement over Vista..MSFT has a runaway winner on hand......I have adjusted the text a touch bigger for easier reading....
My health is also improving thanks to many well wishers..slowly gaining weight also...hopefully another week should bring me back in good health...just finished my two antibiotics this Friday AM.....
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Glad you are doing better. Keep up the great work!
RIMM looks artificially low. If it hits 63 watch the smart quiet money start eating it up.
Did you see BUCY! on-fire! to 50!
I sold BUCY at 34 after a buy at 27. Think I sold to soon? :)
Best Regards
Hi Standards,
Thanks for your feedback regarding my "improving" health.
We all have & going to miss many big moves..all part of our take on personal targets for different stocks...some workout most do not.
BUCY is on fire.....
Saleem
SALEEM
Wow your appendix is doing great and to think that they wanted to operate! GREAT news keep eating...
the financials took a pounding last week Lets hope that todays earning report propel us higher
Standards
It is always good to take a profit-and I have left money on the table many times,
Cheers
Hi Madmax,
Thanks for your feedback about my health.
Many surgeries are done as patients/doctors are looking for "quick fix"...surgery should always be the last option...in most cases not first.
Yes I am getting better daily & have burst of energy now..all due to treatment of infection....
Even heart attack are due to infection which blocks artery???
MRVL is raising guidance big time above consensus....already UP in pre-market.
Futures looking good $$$$$
Saleem
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