Dow & S&P 500 are green despite unemployment claims number which showed slight uptick....there is lot of profit taking going on..BUT market wants to go HIGHER......
Jobs growth on Friday will give optimism for economy..the last barometer Jobs SHOULD tick up & show GROWTH......
Gold Down $4.70
Oil Down 34 cents
Canadian $ Down 20 tick
In my portfolio :
Bought APWR @ $19.33
Portfolio is AMZN(breached 50DMA on high volume?),APWR,AUY,IAG,POT,SLW
SOLF,TSL,TC.....
@ 12.28 following are green:
POT,TC,SLW,SOL,GE,GS,IPI,IBN,PALM,PMCS,M,LVS,
ICE,IGT,WYNN,NYX,VLO,FSLR,FWLT...
BLOG does NOT give buy or sell.
Saleem
8 comments:
Saleem,
I added SOLF after you tripled up before New Year and it performed well. Thanks for the conviction buy. Now, solar stocks seem to take a break. Will they still have a leg up?
Michael
SALEEM
Good day
Any reason that APWR was bought
Interesting buy!
Is Amazon a bust now? I am getting sea sick with it price performance! Yeow
thanks
Hi Michael,
Solar stocks are in major uptrend...Todays minor pullback is healthy & necessary....
Solar will be the sector to stay IN.....
Great conviction in staying in SOLF..it is going much higher.....it is a 2010 play....
Saleem
Hi C,
AMZN selling today is intense & computer driven as it breached 50DMA.....i will see how it close.
APWR is an alternate energy play ..its TURBINE......like plastic in 60's....FA & TA both look good !!!!
Saleem
SALEEM
Some interesting commentary on AMAZON:
Amazon.com (AMZN)
If Tiffany is north to Target's and Wal-Mart's south, then Amazon.com (AMZN) could easily be both east and west. AMZN has been one of the most remarkable stocks since the entire credit crisis took flight about 18 months ago.
The shares had a banner year in 2007. After starting around $39, AMZN rallied some 143 percent, closing December on the high for the year at the $95 level. The next year proved to be the polar opposite. AMZN began 2008 around $95, only to close the year around $50.
For many traders, valuation had finally caught up to AMZN and shorts started betting against the stock in earnest at the start of 2009. With the credit crisis at its zenith and unemployment on the rise, traders bet heavily against the stock. But in similar fashion to 2007, AMZN began 2009 near its depths and made a 52-week low of $47.63 on Jan. 15. Since that day, the stock has never looked back, making not only a 52 week high but alo an all-time high of $145.91 on Dec. 3.
That move from low to high represented an astronomical gain of some 206 percent, leaving the shorts both scratching their heads and licking their wounds. Of course, if one were to look at AMZN on a valuation basis alone, it is easy to see why the shorts piled in. It now trades around 78 times trailing and 51 times forward earnings.
Amazon will report its fourth-quarter earnings at the end of the month. If it comes close to consensus, AMZN will earn about $1.92 per share this year with expectations make about $2.62 per share next year. Granted, 36 percent EPS growth is nothing to sneeze at, but one has to wonder how sustainable that rate is. Yet on Dec. 17 Citigroup upped its price target to $170 from $140 while raising the fourth-quarter EPS estimates to above consensus.
The wild card in all of this is the success, both current and future, of the Kindle. Now for a luddite like me, the e-reader is about as exciting a self adhesive stamp, but I am clearly not the targeted consumer. I only have to attend one of my son's hockey practices to see the power of the Kindle. Seems like every other parent in the stands has one.
The reality is that a sea change is well underway. Consumers have become very comfortable shopping online, and Amazon is the clear winner. Valuation will catch up to AMZN as it does for every stock but, for now, it appears to be bulletproof.
So there you have it--the compass of retail, as it were. Not every stock in the retail universe, but a good place to start. Stay tuned as I turn my attention to specialty retailers in the very near future!
Hi C,
I sold AMZN...
Saleem
Saleem
I am sorry that Amazon did not work out ( Amazon is so shorted)
Perhaps our others will be beter to us in the future,
I sold my GE, it got an upgrade today so the stock went Pop!
Hi C,
I lost $3 per share in AMZN...too much money tied up....doubled up on APWR & bought ASIA.....
Saleem
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