Indices are making new highs in S&P 500 & Nasdaq...Dow slightly below......
Manufacturing data was higher than expectation......
Gold UP $25
Oil UP $1.97
Canadian $ UP 1.11 cent against US$ @ 96.30 cents US for 1 CAD.....
Portfolio is AMZN,AUY,IAG,POT,SLW,SOLF,TSL,TC....
@ 12.35 following are RED.....
AMZN,APWR,RCI,RIMM,BIDU,NVDA,CTRN,
FSLR.
BLOG does NOT give buy or sell.
Saleem
5 comments:
SALEEM
For what it is worth GE has gotten legs:
New Upleg for GE
59 minutes ago - Advicetrade
Related Companies
Symbol Last %Chg
GE 15.64 3.34%
As of 12:47 PM ET 1/4/10
New Upleg for GE By Mike Paulenoff, www.MPTrader.com an AdviceTrade.com publication
My work continues to indicate that all of the action in General Electric (GE) off of its 12/04 high at 16.49 into Thursday’s low at 15.09 represents a correction of the prior advance from 14.15 (11/4) to 16.49 (12/4). Today’s powerful advance argues strongly that the corrective period is over and that GE has pivoted into a new upleg, which if accurate means that 1) the stock should head for a retest of 16.49 on the way to 18.00 and 2) that prices should NOT break below 15.09 again anytime soon.
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Hi C,
Thanks for your post on GE !!!
Saleem
Saleem,
Happy New Year! Thanks for your fantastic works last year. Your analysis of market trend was outperformed most famous analysts. It has been fortunate for me to find your blog. I lost a lot previous years but not any more and hope under your guidance, I will recover soon.
Michael
I second to Mike. The information in the blog is very informative. I I like the cautious approach, stock selection, diversification, TAPE info, thought process etc. that is put forward in the blog and also the comments from various subscribers.
I am glad that I found this blog while researcing CMED message board in yahoo a few years back and congratulate Saleem for the great work.
Paramjeet
Hi Michael & Paramjeet,
Thank you so much for your feedback.
It has been a great journey through the minefield of wall street.
So much changes on a daily basis but RSI & TAPE tells me more than any gurus.
Hopefully we will have a very productive 2010 together.
Saleem
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