Indices are still under mild selling pressure down another .35% to .61%.....S&P 500 is slightly lower than 50 DMA..we have a very good chance of closing above 50 DMA......Nasdaq is firmly above its 50 DMA of 2227.17..low so far was 2237.25......Nasdaq TAPE is saying that we MAY turn UP today......
Gold Down $14.50 to $1088.20..@ support area..Gold stocks are UP
Oil Down 95 cents to $75.13
Canadian $ Down 40 cents to 94.70 US for 1 CAD
Portfolio is APWR,ASIA,AUY,IAG,PALM,POT,SLW,TC,FUQI call....
@ 12.33 following are green :
ASIA,IAG,AUY,TC,SLW,FUQI,GE,IBN,ISRG,GG,
GNK,M,KGC,ECA,CTRN,IGT,JRCC,WYNN,AEM,
ABX,SNE,VAR.....
BLOG does NOT give buy or sell.
Saleem
Do we sell off at the close or are the buyers going to come in???
ReplyDeleteHi Victor,
ReplyDeleteThere is a very good chance that shorts will cover before the weekend...thus aa UPtick.....
Saleem
Saleem,
ReplyDeleteI hope you're right. I picked up JPM CAAS and MED today. All oversold in my opinion.
Victor
Hi Victor,
ReplyDeleteMost stocks are oversold..so buying with good FA/TA/TAPE should workout......
Good luck with your picks !!!!
Saleem
Saleem,
ReplyDeleteIt seems that MM wants 10% market correction. Will this correction be possible? I just hold all my possitions and let it ride.
Michael
Hi Michael,
ReplyDeleteWe are deeply oversold on Obama remarks about banks control...
Current price is discounting new banking regulation.....
I am staying put with all my position.
Saleem
I think we're in the 5-8 percent correction mode.
ReplyDeleteHi All,
ReplyDeleteWhat happened about 11 am? Was Obama giving a speech? From then on, it was all downhill without a pause. Dang!
It really looked washed out today.
Best Regards