Thursday, February 4, 2010

Retest of support as "fear mounts".......

Fear of European sovereign bonds & higher than expected jobless claims taking a "major hit in all indices"....

S&P 500 went below recent lows as we hit 1069.71 low so far...previous low was 1071.59...currently we are trading @ 1072.21......

RSI in S&P 500 is currently @ 37.17...higher than Friday's low......

Gold Down sharply $44.40 to 1067..still in support zone

Oil Down $3.87 to $73.11

Canadian $ down 1.31 cents to 93.19 US for 1 CAD......

Portfolio is APWR,AUY,IAG,PALM,SLW,SOLF,TC,TSL....

Most stocks are down......

BLOG does NOT give buy or sell.

Saleem

3 comments:

Michael said...

Saleem,

It is really a brutal attack today by MM. As I commented earlier about Networking industry. Cisco has been standing firm today. I still think we are heading higher from this level. Will you reshuffle your position or will stay as they are? Thanks.

Michael

Stocks100 said...

Hi Michael,

I have sold SOLF & AUY today....I am keeping the rest unless we break down further....

Internals are telling me that today was a "real PANIC selling"

Saleem

standardshigh said...

Hi All,

Baltic Dry Index (BDI) +12 2685

BDI took a major beating the last few days.

Asian markets following S&P pattern.

More professional distribution.

Best Regards