Fed statement was much more "optimistic" about US economy than expected...this gave a shot of confidence to battered investors/traders......
Volume was much heavier in all indices well above average..a very positive sign.....volume is KEY to any TURNAROUND......
Our much beloved bears were out in full force since yesterday....Adami was full of confidence that we go down to "hell zone " in a hurry,Jimmy the Cramer told everyone NOT to buy a single stock until he gives clearance????...Today Robert Prechter again chewing his words and NOT giving any downside target to his famous bearish call since July...he is implying a two year bear market.....
When Bears are confident..then you KNOW that TURN is around the corner......for the record we were down only 67.34 points from record high close in S&P 500 to low of the day today which is down 5.85%...which does NOT even qualify for correction which requires 10% down move...I think enough said on behalf of Wall Street "book pushers"......
AH QCOM ER was a bust Down 10.17% on AH volume of 5.99 million shares
AH CTRX guidance was in-line ...stock down 4.19%..AH volume 318K
AMZN,MSFT reports AH Thursday......
AH futures are mixed
AH Nikkei is UP 1.49%
AH Oil UP
Posting a touch early to listen to "State of Union" speech...
PS...my color fonts were messed up by Google system...got those corrected...
BLOG does NOT give buy or sell.
Saleem
6 comments:
SALEEM
I loved the chages in colors or the fonts--wow I thought that it was Eclectic!!!!!!!!!!!!!!!
I was hoping for financials to pop or GNK to start sailing up.
My APPLE got lots of action but not the huge move that I expected ...
Good luck to all with J the Cramer pumping sell sell sell it is a wonder that he says on TV--wow
Hi C,
It is so much better with color in text....i am able to inject "feelings" in my text.
Market should be OK now.....it goes UP then goes DOWN...then back UP..where we are today....
All sector should move except AG ..POT guidance is much WEAKER than consensus.....had reduced my exposure in POT by 53% two days ago...now will just sit & wait how it closes.....
Saleem
Saleem
Smart move on POT
wow-you are samrt
I too am out of AG
I got gold AUY and IAG.
and you know my other buys
AAPL APWR ASIA BAC BMY C CHU GE GNK GS FRO IAG MO SEP SOL
good luck again this market was scary
Hi C,
POT has seen its low today..will leave my position as is.
Bought SOLF @ $7.43..TAPE looks very impressive.....
Good luck with your portfolio !!!!
Saleem
Hi All,
Watching the market shoot back and forth reminds me of a computer program trying to track a standard deviation. It always appears to be in catch up mode. It over shoots on both the up side and the downside. And in the middle it looks like a oscillating wave.
Best Regards
Hi Standards,
This is how a strong bottom is formed in market....today is a retest of support....
Saleem
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