Indices pulled back @ close with internals being much weaker than close.....
Down volume & declining stocks were in the lead by about 50%
New 52 wk high list is shrinking 156 in NYSE & 107 in Nasdaq
AH RIMM ER had a miss in Sales & EPS Down 4.62% in AH volume of 1.09 million..Forward guidance of Sales & EPS are better than consensus.....
AH MU had a beat in sales & huge beat in EPS by 15 cents UP 2.89% in AH volume of 393,650...CC was upbeat & business conditions for DRAM & NAND are strong...they do not give exact guidance.....much like GOOG....
AH Futures are UP
AH Nikkei,Singapore & China UP..Japan economic survey numbers were better than expected..giving boost to Asian markets.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, March 31, 2010
Indices are mixed......
Indices are close to unchanged levels... Nasdaq & S&P 500 showing color green......
Economic data points were weaker than expected......Indices are NOT reacting badly @ all....
Gold UP $8.60
Oil UP 59 cents
Canadian $ UP 34 tick to $98.43 as Canadian GDP was stronger than expected..UP 5 months in a row.....Growth for the month was .6%.... fastest in 3 years
In my portfolio :
Sold VXX...after studying its tape & doing research..i found that this stocks does NOT give better play on downside... VXZ tracks VIX more closely...but its thinly traded...
Bought MU @ $10.65...it reports AH expectations is 24 cents & next Q is 27 cents..expecting it to beat & guide higher than consensus.....
APWR reported ..it was a beat on EPS.. BUT a MISS on sales & guidance.....I am keeping APWR as they have ratcheted down expectations and may be Under Promising ..a better strategy than Over Promising.....Guiding $380 million in Sales & $1.00 in EPS...so it is trading @ 10 PE.....have seen support in $10.35 area......
Portfolio is QID,APWR,MU......
@ 12.14 following are green :
QID,SOLF,SLW,EGO,GOOG,TCK,VXZ,
CREE,SINA,RCI,IPI,MA,V,GG,SU,LVS,
EXPE,FMCN,ECA,ICE,NDAQ,AEM,ABX,
NYX,LDK.....
BLOG does NOT give buy or sell.
Saleem
Economic data points were weaker than expected......Indices are NOT reacting badly @ all....
Gold UP $8.60
Oil UP 59 cents
Canadian $ UP 34 tick to $98.43 as Canadian GDP was stronger than expected..UP 5 months in a row.....Growth for the month was .6%.... fastest in 3 years
In my portfolio :
Sold VXX...after studying its tape & doing research..i found that this stocks does NOT give better play on downside... VXZ tracks VIX more closely...but its thinly traded...
Bought MU @ $10.65...it reports AH expectations is 24 cents & next Q is 27 cents..expecting it to beat & guide higher than consensus.....
APWR reported ..it was a beat on EPS.. BUT a MISS on sales & guidance.....I am keeping APWR as they have ratcheted down expectations and may be Under Promising ..a better strategy than Over Promising.....Guiding $380 million in Sales & $1.00 in EPS...so it is trading @ 10 PE.....have seen support in $10.35 area......
Portfolio is QID,APWR,MU......
@ 12.14 following are green :
QID,SOLF,SLW,EGO,GOOG,TCK,VXZ,
CREE,SINA,RCI,IPI,MA,V,GG,SU,LVS,
EXPE,FMCN,ECA,ICE,NDAQ,AEM,ABX,
NYX,LDK.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, March 30, 2010
Flattish close in indices....
Market is looking tired as it is having trouble keeping its gains....
Internals are mixed.....
52 wk high is tapering off as listed below :
201 in NYSE & 112 in Nasdaq
Strong stocks were GOOG,SOHU,SOL,ISRG,PWRD,
SU,MA,CSIQ,M,SOLF,GNK,FNSR,JASO,FMCN.
AH Futures are Down
AH Nikkei UP
AH Gold,Silver UP
BLOG does NOT give buy or sell.
Saleem
Internals are mixed.....
52 wk high is tapering off as listed below :
201 in NYSE & 112 in Nasdaq
Strong stocks were GOOG,SOHU,SOL,ISRG,PWRD,
SU,MA,CSIQ,M,SOLF,GNK,FNSR,JASO,FMCN.
AH Futures are Down
AH Nikkei UP
AH Gold,Silver UP
BLOG does NOT give buy or sell.
Saleem
Indices struggling today...
TAPE is looking "very tired".....
Indices gave up all the gain & are trying hard to go to green......
Close will be the-key IF reversal has taken place already........
Gold Down $7.80
Oil UP 11 cents
Canadian $ UP 34 tick to 98.17
In my portfolio :
Tripled my position in QID @ $16.52
Portfolio is APWR,VXX,QID......
APWR reports before open consensus is 39 cents Q1 expectations is 17 cents.....not sure how their results will be Sales should be OK as per consensus BUT EPS may not...guidance is expected to be above.....which should help the stock.....
Most stocks are up.....
@ 12.14 following stocks are red.....
APWR,X, SLW,IAG,EGO,PALM,ASIA,POT,
LVS,GG,NDN,BIDU,GS,ISRG,RIMM,
CMED,CREE,SINA....
BLOG does NOT give buy or sell.
Saleem
Indices gave up all the gain & are trying hard to go to green......
Close will be the-key IF reversal has taken place already........
Gold Down $7.80
Oil UP 11 cents
Canadian $ UP 34 tick to 98.17
In my portfolio :
Tripled my position in QID @ $16.52
Portfolio is APWR,VXX,QID......
APWR reports before open consensus is 39 cents Q1 expectations is 17 cents.....not sure how their results will be Sales should be OK as per consensus BUT EPS may not...guidance is expected to be above.....which should help the stock.....
Most stocks are up.....
@ 12.14 following stocks are red.....
APWR,X, SLW,IAG,EGO,PALM,ASIA,POT,
LVS,GG,NDN,BIDU,GS,ISRG,RIMM,
CMED,CREE,SINA....
BLOG does NOT give buy or sell.
Saleem
Monday, March 29, 2010
Indices closed GREEN....NICE !!!!
Indices closed green although volume remains low.....
Oil & Gold gained
Canadian $ closed UP 75 tick to 97.83 cents US.....
Strong stocks included APWR,SLW,SOLF,TSL,CSIQ,
EXPE,CCJ,IBN,PMCS,SU,TLM,GNK,MRVL,JASO,TC,
TCK,NXY....
VIX closed @ 17.59 Down 1.01% while VXX down 1.86%
AH Futures are mixed
AH Nikkei UP
AH Gold Down
AH AAPL was UP another 83 cents while RIMM was Down AH $1.20 on rumour that iphone is coming to Verizon in June.....
BLOG does NOT give buy or sell.
Saleem
Oil & Gold gained
Canadian $ closed UP 75 tick to 97.83 cents US.....
Strong stocks included APWR,SLW,SOLF,TSL,CSIQ,
EXPE,CCJ,IBN,PMCS,SU,TLM,GNK,MRVL,JASO,TC,
TCK,NXY....
VIX closed @ 17.59 Down 1.01% while VXX down 1.86%
AH Futures are mixed
AH Nikkei UP
AH Gold Down
AH AAPL was UP another 83 cents while RIMM was Down AH $1.20 on rumour that iphone is coming to Verizon in June.....
BLOG does NOT give buy or sell.
Saleem
Consumer spending giving boost to Indices......
Indices are all green in .5% area after consumer spending matched analysts consensus.
Gold UP $5.20
Oil UP $2.37
Canadian $ UP 92 tick to 98.02 cents US for 1 CAD
In my portfolio :
Sold SLW
Doubled my position in VXX @ $21.57
Portfolio is APWR,VXX,QID.....
Most stocks are green...
@ 12.20 following are RED :
VXX,QID,PWRD,CMED,CTRN,FUQI,ASIA,
GAME....
BLOG does NOT give buy or sell.
Saleem
Gold UP $5.20
Oil UP $2.37
Canadian $ UP 92 tick to 98.02 cents US for 1 CAD
In my portfolio :
Sold SLW
Doubled my position in VXX @ $21.57
Portfolio is APWR,VXX,QID.....
Most stocks are green...
@ 12.20 following are RED :
VXX,QID,PWRD,CMED,CTRN,FUQI,ASIA,
GAME....
BLOG does NOT give buy or sell.
Saleem
Sunday, March 28, 2010
Market climbing wall of worry ???
Markets have defied RSI readings for 3 weeks ?
Currently RSI in S&P 500 is @ 67.36...this is @ 3 week low ???
Most traders like me were extremely cautious when RSI came close to 70...BUT RSI went UP to 76 area......
Investors bull bear ratio is giving a different take on TAPE......currently Bulls are in 38 area & bears are in 32 area.....this is a very bullish reading for market..as it is taken as contrary indicator....
To get to any extreme we need a reading in 60 area..bull or bear......
SO..what this is telling us that most traders have taken defensive or short position in market....means selling has been done or shorts need to close their position to make money on the long side......
SO..how do i intend to deal with my bearish stand ?
I am giving until Option Expiry on 19th April for market to show any weakness...this weakness should end by April 19th...when I will change my strategy to clearing my short position via VXX & QID.......
In the meantime I have 2 long position in SLW & APWR.......
In terms of support..based on RSI it is in 50 area..may dip below 50 but do not see going too much lower based on CURRENT investors bull/bear ratio.....
SO..it is "extremely important" to monitor investors sentiment....
It is also important to accept the verdict of TAPE...which negates any personal takes based on one factor like RSI.....as market is quite capable of proving many technical indicators wrong for days,weeks,& even months.....if 1999/2000 market is any gauge of extremes...so be aware !!!
Based on RSI since 1950....we are around 56 area as of Friday, while highs several times touched 80 & once in 1995 we even touched 84 RSI.....
In 10 year RSI chart last peak was @ 80 May 2007..then we plunged to below 20 in march 2009....in this chart we are also @ 56 RSI as of Friday......
I know..these are lot of stat to look @ ..BUT it is important to look @ short term RSI which is 67.36 & long term RSI which is 56.......
For S&P 500 first support is @ 1150 area...then 1120 then 1100 then 1080 area where there is strong support......
Jobs report will be released on Friday which is a market holiday..expected to show Job growth of 200,000..which will bring joy to the market on following Monday...
@ best this market will remain for daytrading & booking profit as it comes......
I still suggest less exposure & quick trades.......as lot of good news is being priced IN......market KNOWS about upcoming improvement in job picture......market needs to digest lot of good news & RSI need to come to 50 area......as short term goals.....
Good luck with your OWN strategy.
BLOG does NOT give buy or sell.
Saleem
Currently RSI in S&P 500 is @ 67.36...this is @ 3 week low ???
Most traders like me were extremely cautious when RSI came close to 70...BUT RSI went UP to 76 area......
Investors bull bear ratio is giving a different take on TAPE......currently Bulls are in 38 area & bears are in 32 area.....this is a very bullish reading for market..as it is taken as contrary indicator....
To get to any extreme we need a reading in 60 area..bull or bear......
SO..what this is telling us that most traders have taken defensive or short position in market....means selling has been done or shorts need to close their position to make money on the long side......
SO..how do i intend to deal with my bearish stand ?
I am giving until Option Expiry on 19th April for market to show any weakness...this weakness should end by April 19th...when I will change my strategy to clearing my short position via VXX & QID.......
In the meantime I have 2 long position in SLW & APWR.......
In terms of support..based on RSI it is in 50 area..may dip below 50 but do not see going too much lower based on CURRENT investors bull/bear ratio.....
SO..it is "extremely important" to monitor investors sentiment....
It is also important to accept the verdict of TAPE...which negates any personal takes based on one factor like RSI.....as market is quite capable of proving many technical indicators wrong for days,weeks,& even months.....if 1999/2000 market is any gauge of extremes...so be aware !!!
Based on RSI since 1950....we are around 56 area as of Friday, while highs several times touched 80 & once in 1995 we even touched 84 RSI.....
In 10 year RSI chart last peak was @ 80 May 2007..then we plunged to below 20 in march 2009....in this chart we are also @ 56 RSI as of Friday......
I know..these are lot of stat to look @ ..BUT it is important to look @ short term RSI which is 67.36 & long term RSI which is 56.......
For S&P 500 first support is @ 1150 area...then 1120 then 1100 then 1080 area where there is strong support......
Jobs report will be released on Friday which is a market holiday..expected to show Job growth of 200,000..which will bring joy to the market on following Monday...
@ best this market will remain for daytrading & booking profit as it comes......
I still suggest less exposure & quick trades.......as lot of good news is being priced IN......market KNOWS about upcoming improvement in job picture......market needs to digest lot of good news & RSI need to come to 50 area......as short term goals.....
Good luck with your OWN strategy.
BLOG does NOT give buy or sell.
Saleem
Saturday, March 27, 2010
Technically weak stocks.....
Following stocks are flashing "technical weakness".Please do your OWN due diligence by checking FA/TA/TAPE & other short term technical indicators.
SOHU,AUY,IAG,JEF,PAAS,HL,CRUS,
COMV,HK,STV,JJG,POT,KGC,CNXT,
PMCS,ZOLL,JAG,PIR,SU,UIS,PAL,
BRCM,CMED,CTSH,AGU,CM,TD,VLO.
Next post by noon on Sunday.
BLOG does NOT give buy or sell.
Saleem
SOHU,AUY,IAG,JEF,PAAS,HL,CRUS,
COMV,HK,STV,JJG,POT,KGC,CNXT,
PMCS,ZOLL,JAG,PIR,SU,UIS,PAL,
BRCM,CMED,CTSH,AGU,CM,TD,VLO.
Next post by noon on Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, March 26, 2010
Indices giving up gains for second day......
Technically speaking today was day two of reversal in indices......
Internals are showing clear sign of weakness.....
New 52 wk highs are fading faster than indices as listed below for today :
New 52 wk High NYSE 148 & Nasdaq 70 .....this is extremely bearish....a rollover scenario of market strength.......
CMF is also fading from its recent strength......recent peak around .45 to today @ .215 in S&P 500...
By Saturday noon....I will list overbought stocks...
BLOG does NOT give buy or sell.
Saleem
Internals are showing clear sign of weakness.....
New 52 wk highs are fading faster than indices as listed below for today :
New 52 wk High NYSE 148 & Nasdaq 70 .....this is extremely bearish....a rollover scenario of market strength.......
CMF is also fading from its recent strength......recent peak around .45 to today @ .215 in S&P 500...
By Saturday noon....I will list overbought stocks...
BLOG does NOT give buy or sell.
Saleem
Indices UP .05% to .19%.....NICE !!!!
Indices are UP around .20% thanks to resolution of Greece Debt......
Gold UP $11.40 to $1104.30
Silver UP 18.40 cents to $16.93
Oil Down 35 cents to $80.18
Canadian $ Down 47 tick to 97.26
Portfolio is APWR,SLW,VXX,QID
Most stocks are UP
@ 12.17 following are RED :
VXX,QID,SINA,RCI,BCE,GS,PMCS,
MRVL,GOOG,ECA,BRCD,VLO,ISRG,
VAR,FWLT.....
BLOG does NOT give buy or sell.
Saleem
Gold UP $11.40 to $1104.30
Silver UP 18.40 cents to $16.93
Oil Down 35 cents to $80.18
Canadian $ Down 47 tick to 97.26
Portfolio is APWR,SLW,VXX,QID
Most stocks are UP
@ 12.17 following are RED :
VXX,QID,SINA,RCI,BCE,GS,PMCS,
MRVL,GOOG,ECA,BRCD,VLO,ISRG,
VAR,FWLT.....
BLOG does NOT give buy or sell.
Saleem
Thursday, March 25, 2010
TAPE reversed in late trading.......
Today was the first time that tape was "technically weak"...reversing an earlier solid gain into flattish close.....
Internals were weaker than closing number.......
Lot of reason were given for this downturn....BUT it was because of being overbought & FEAR of stretched market finally setting in......
Lot of potential good news is baked in......
Green stocks included VXX,QID,GOOG,SOL,SOLF,
LRCX,FNSR,SOHU,RCI,IBN,MA,V,AMZN,ASIA,
BAC,C,YHOO.....
VIX closed @ 18.40 + 4.84% ..VXX UP 1.09%
AH Futures are Down
AH Nikkei UP
AH Oil,Gold,Silver Down
AH ORCL reported Down 1.69% on AH volume of 1.12 million shares
BLOG does NOT give buy or sell.
Saleem
Internals were weaker than closing number.......
Lot of reason were given for this downturn....BUT it was because of being overbought & FEAR of stretched market finally setting in......
Lot of potential good news is baked in......
Green stocks included VXX,QID,GOOG,SOL,SOLF,
LRCX,FNSR,SOHU,RCI,IBN,MA,V,AMZN,ASIA,
BAC,C,YHOO.....
VIX closed @ 18.40 + 4.84% ..VXX UP 1.09%
AH Futures are Down
AH Nikkei UP
AH Oil,Gold,Silver Down
AH ORCL reported Down 1.69% on AH volume of 1.12 million shares
BLOG does NOT give buy or sell.
Saleem
All Indices in record territory.....NICE !!!
Markets are taking all the good news & moving to "new HIGHER grounds"
Ben Bernanke comments added "fuel" to this bull market.......
Gold UP $1.80
Oil UP 64 cents
Canadian $ UP 57 tick to 98.08
In my portfolio :
Bought SLW @ $15.29
Portfolio is APWR,SLW,VXX,QID.....
Most stocks are UP
Following stocks are RED :
VXX,QID,TC,EGO,RIMM,TSL,PWRD,NTES,
IPI,ISRG,BIDU,PALM,FMCN,GG,BRCD,CTRN,
VLO,LDK,SNE.....
BLOG does NOT give buy or sell.
Saleem
Ben Bernanke comments added "fuel" to this bull market.......
Gold UP $1.80
Oil UP 64 cents
Canadian $ UP 57 tick to 98.08
In my portfolio :
Bought SLW @ $15.29
Portfolio is APWR,SLW,VXX,QID.....
Most stocks are UP
Following stocks are RED :
VXX,QID,TC,EGO,RIMM,TSL,PWRD,NTES,
IPI,ISRG,BIDU,PALM,FMCN,GG,BRCD,CTRN,
VLO,LDK,SNE.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, March 23, 2010
All Indices @ new HIGHS for the year...NICE !!!!
Indices are in a new UPTREND after showing internal weakness for two days...BUT last TWO days internals are very strong......
All indices closed near high of the day which bodes well for near term.......
This RENEWED rally has surprised many including me.......this proves that sometimes technical INDICATORS can be IGNORED by market.....how long will this continue..nobody knows......
CMF is HIGHER all of a sudden after tapering for few days.....so money is flowing in the market...
I will stay with my thesis of being extremely CAUTIOUS as RSI is in nose-bleed zone & will NOT venture into chasing this TAPE......
RSI @ close are as follows :
Dow 75.18
S&P 500 74.52
Nasdaq 75.67
VIX closed @ 16.35 Down 3.08% NOT a new low... 19th March low still stand ? VXX closed Down 1.87%
Strong stocks were CSIQ,X,TSL,SOLF,CNXT,NVLS,LRCX,CYMI,
BZH,FUQI,SNDK,MRVL,BIDU,RIMM,NVDA,SLW,MU,FNSR,
JASO,TCK....
AH Futures Mixed
AH Nikkei & Singapore UP
AH Oil,Gold,Silver Down
PS.....There will be NO posting in my BLOG on Wed ..as I am tied up with visitors.
BLOG does NOT give buy or sell.
Saleem
All indices closed near high of the day which bodes well for near term.......
This RENEWED rally has surprised many including me.......this proves that sometimes technical INDICATORS can be IGNORED by market.....how long will this continue..nobody knows......
CMF is HIGHER all of a sudden after tapering for few days.....so money is flowing in the market...
I will stay with my thesis of being extremely CAUTIOUS as RSI is in nose-bleed zone & will NOT venture into chasing this TAPE......
RSI @ close are as follows :
Dow 75.18
S&P 500 74.52
Nasdaq 75.67
VIX closed @ 16.35 Down 3.08% NOT a new low... 19th March low still stand ? VXX closed Down 1.87%
Strong stocks were CSIQ,X,TSL,SOLF,CNXT,NVLS,LRCX,CYMI,
BZH,FUQI,SNDK,MRVL,BIDU,RIMM,NVDA,SLW,MU,FNSR,
JASO,TCK....
AH Futures Mixed
AH Nikkei & Singapore UP
AH Oil,Gold,Silver Down
PS.....There will be NO posting in my BLOG on Wed ..as I am tied up with visitors.
BLOG does NOT give buy or sell.
Saleem
Indices GREEN Again......NICE !!!!
Nasdaq,Dow made another high today & S&P 500 came within fractions so far......
Gold UP $5.40
Oil UP 32 cents
Canadian $ UP 25 tick to 88.29
Portfolio is APWR,VXX,QID.....
Most of the stocks are UP
@ 1.03 following are green :
APWR,MRVL,TSL,CSIQ,SOLF,AAPL,RIMM,CREE,
BIDU,X,V,TC,TCK,LULU,FSLR,ISRG,SNE,VAR.
BLOG does NOT give buy or sell.
Saleem
Gold UP $5.40
Oil UP 32 cents
Canadian $ UP 25 tick to 88.29
Portfolio is APWR,VXX,QID.....
Most of the stocks are UP
@ 1.03 following are green :
APWR,MRVL,TSL,CSIQ,SOLF,AAPL,RIMM,CREE,
BIDU,X,V,TC,TCK,LULU,FSLR,ISRG,SNE,VAR.
BLOG does NOT give buy or sell.
Saleem
Monday, March 22, 2010
All Indices closed GREEN...NICE !!!!
Indices fought back negativity which started overnight in Asia & continued in Europe.
Indices were in red @ open BUT fought its way to green close.
Nasdaq closed @ new high for the year...other indices are very close to old highs......
Internals of the market were strong also as listed below :
UP volume led by 2.72 to 1 in NYSE & 2.67 to 1 in Nasdaq
Advancing stocks led by 1.97 to 1 in NYSE & 1.71 to 1 in Nasdaq
SO...the TAPE was definitely strong for today......
RSI @ close were as follows :
Dow 71.00
S&P 500 71.63
Nasdaq 72.96
RSI remains in "deeply overbought area"......
Strong stocks included BIDU,AAPL,LVS,WYNN,LRCX,
MU,NDN,M,EXPE,MRVL,CIEN,CNXT,SNDK,FMCN,
NVLS,CYMI.....
VIX closed @ 16.87 down .59% BUT VXX was down 1.84%
AH Futures UP
AH Nikkei Down
AH Gold,Silver UP
BLOG does NOT give buy or sell.
Saleem
Indices were in red @ open BUT fought its way to green close.
Nasdaq closed @ new high for the year...other indices are very close to old highs......
Internals of the market were strong also as listed below :
UP volume led by 2.72 to 1 in NYSE & 2.67 to 1 in Nasdaq
Advancing stocks led by 1.97 to 1 in NYSE & 1.71 to 1 in Nasdaq
SO...the TAPE was definitely strong for today......
RSI @ close were as follows :
Dow 71.00
S&P 500 71.63
Nasdaq 72.96
RSI remains in "deeply overbought area"......
Strong stocks included BIDU,AAPL,LVS,WYNN,LRCX,
MU,NDN,M,EXPE,MRVL,CIEN,CNXT,SNDK,FMCN,
NVLS,CYMI.....
VIX closed @ 16.87 down .59% BUT VXX was down 1.84%
AH Futures UP
AH Nikkei Down
AH Gold,Silver UP
BLOG does NOT give buy or sell.
Saleem
Indices UP .25% to .50%.....NICE !!!!
Indices are still in uptrend and are all green.......
Close will give us the real picture......
Gold Down $9.90 to $1097.50
Oil Down .06 cents to $80.91
Canadian $ Down 39 tick to 98.08
Portfolio is APWR,VXX,QID.....
Majority of stocks are Down.....
@ 12.21 following are green :
MU,MRVL,AAPL,RIMM,BIDU,MA,V,
NDN,NVDA,RVBD,M,LVS,POT,FUQI,
PALM,FMCN,CTRN,LULU,IGT,WYNN,
VAR,IBN.
BLOG does NOT give buy or sell.
Saleem
Close will give us the real picture......
Gold Down $9.90 to $1097.50
Oil Down .06 cents to $80.91
Canadian $ Down 39 tick to 98.08
Portfolio is APWR,VXX,QID.....
Majority of stocks are Down.....
@ 12.21 following are green :
MU,MRVL,AAPL,RIMM,BIDU,MA,V,
NDN,NVDA,RVBD,M,LVS,POT,FUQI,
PALM,FMCN,CTRN,LULU,IGT,WYNN,
VAR,IBN.
BLOG does NOT give buy or sell.
Saleem
Sunday, March 21, 2010
RSI & VIX @ historic levels....WHY ????
RSI in S&P 500 is @ historic level in 75 area only reached in July 09......In July we were coming out of historic downtrend in markets seen in march 09.....it was predicting then that "all is NOT wrong with economy" with stimulus kicking in worldwide......
NOW...we are 8 months into massive stimulus propping economies worldwide ..with relative gain in GDP......
As was back in March of 09...stock markets were looking ahead so RSI of 26 in March was reflecting "too much pessimism"...so we vaulted from 26 RSI to 75 RSI in 6 short months.....
Then again over optimistic scenario by investors resulted in RSI from Aug 09 to make lower highs & lower lows .....resulting in Feb 10 lows of RSI 30 area.......
THEN...from Feb to March 19th in short 5 weeks we shot UP from low 30 to 75 RSI...fastest jump in any 5 week span.......
SO...S&P 500 went from 1044.50 to 1169.84 a jump of 125.34 points or 12% in last 5 weeks......
Any jump like this anytime in the last 15 months has brought a quick correction...sometimes it is a "rolling correction" means lower highs & lower lows for several months until pessimism is entrenched.......
Based on seasonality & sharp RUNUP we had since March lows when we were @ 666 to current high of 1169.......that IS a gain of 503 S&P points or a gain of 75.53% in a year.......
S&P 500 has moved to a normal valuation based on historical averages......
SO.....from here we WAIT for "above average GROWTH in worldwide GDP"
There are MANY POTENTIAL headwinds for the short term for markets to digest...namely :
-Stimulus will come out by end of the year....
-Interest rates will be hiked worldwide...Australia,India, has already done it..to be followed by China,US,Canada......
-VIX is @ series of record LOW...never a good sign for markets.....sign of TOP.....
-US healthcare fallout will affect policies in future..so less focus on economic issues BUT more on politics & compromise......
-Inflation is a major concern in China,India & rest of the world...means pressure on interest rates....
-Rising interest rates means stock market will be UNSURE of economic growth...so another long digestive process for the markets.....discounting mechanism will trigger.......
Based on the above REALITIES......it is important for traders NOT be "over confident" with their trading abilities......
I CAN...very easily see that markets will be under pressure till mid September.......a long 6 months of basing period for the indices.........
Range of the market will depend IF rising interest rates will IMPACT GDP numbers......
Some of the ROSY GDP growth will be TEMPERED.....
SO......it is PRUDENT to be extremely DEFENSIVE & actually position to GAIN from Market DECLINE...
Nobody can predict the EXACT lows or highs of the market in any time frame..BUT I have done a reasonable job in predicting turns & sometimes even short term tops & bottom.......
Based on my PERSONAL interpretations of RSI & VIX......I have CHANGED my strategy to stay "extremely BEARISH" for short term.......
I will let the TAPE tell me when I should CHANGE my strategy.......
SO...I stay with APWR,VXX,QID........
What you should do is based on your OWN interpretation of TAPE......
LUCK will NOT help too much in this stage of market....no more lifting of all boats......
Even strong stocks are showing sign of quick pullback......
As we all have learned the hard way that ONCE the tide changes...it CAN become very painful for our portfolio......
I am 25% exposed to the market..with 50% bearish bet with VXX & QID & 50% bullish bet with APWR which has been beaten down to RSI of 41.17 trading @ Sep 07 level.....a 29 month low ???
Good luck with your OWN strategy & comfort level.....but remember do not fight for the last $$$.
BLOG does NOT give buy or sell.
Saleem
NOW...we are 8 months into massive stimulus propping economies worldwide ..with relative gain in GDP......
As was back in March of 09...stock markets were looking ahead so RSI of 26 in March was reflecting "too much pessimism"...so we vaulted from 26 RSI to 75 RSI in 6 short months.....
Then again over optimistic scenario by investors resulted in RSI from Aug 09 to make lower highs & lower lows .....resulting in Feb 10 lows of RSI 30 area.......
THEN...from Feb to March 19th in short 5 weeks we shot UP from low 30 to 75 RSI...fastest jump in any 5 week span.......
SO...S&P 500 went from 1044.50 to 1169.84 a jump of 125.34 points or 12% in last 5 weeks......
Any jump like this anytime in the last 15 months has brought a quick correction...sometimes it is a "rolling correction" means lower highs & lower lows for several months until pessimism is entrenched.......
Based on seasonality & sharp RUNUP we had since March lows when we were @ 666 to current high of 1169.......that IS a gain of 503 S&P points or a gain of 75.53% in a year.......
S&P 500 has moved to a normal valuation based on historical averages......
SO.....from here we WAIT for "above average GROWTH in worldwide GDP"
There are MANY POTENTIAL headwinds for the short term for markets to digest...namely :
-Stimulus will come out by end of the year....
-Interest rates will be hiked worldwide...Australia,India, has already done it..to be followed by China,US,Canada......
-VIX is @ series of record LOW...never a good sign for markets.....sign of TOP.....
-US healthcare fallout will affect policies in future..so less focus on economic issues BUT more on politics & compromise......
-Inflation is a major concern in China,India & rest of the world...means pressure on interest rates....
-Rising interest rates means stock market will be UNSURE of economic growth...so another long digestive process for the markets.....discounting mechanism will trigger.......
Based on the above REALITIES......it is important for traders NOT be "over confident" with their trading abilities......
I CAN...very easily see that markets will be under pressure till mid September.......a long 6 months of basing period for the indices.........
Range of the market will depend IF rising interest rates will IMPACT GDP numbers......
Some of the ROSY GDP growth will be TEMPERED.....
SO......it is PRUDENT to be extremely DEFENSIVE & actually position to GAIN from Market DECLINE...
Nobody can predict the EXACT lows or highs of the market in any time frame..BUT I have done a reasonable job in predicting turns & sometimes even short term tops & bottom.......
Based on my PERSONAL interpretations of RSI & VIX......I have CHANGED my strategy to stay "extremely BEARISH" for short term.......
I will let the TAPE tell me when I should CHANGE my strategy.......
SO...I stay with APWR,VXX,QID........
What you should do is based on your OWN interpretation of TAPE......
LUCK will NOT help too much in this stage of market....no more lifting of all boats......
Even strong stocks are showing sign of quick pullback......
As we all have learned the hard way that ONCE the tide changes...it CAN become very painful for our portfolio......
I am 25% exposed to the market..with 50% bearish bet with VXX & QID & 50% bullish bet with APWR which has been beaten down to RSI of 41.17 trading @ Sep 07 level.....a 29 month low ???
Good luck with your OWN strategy & comfort level.....but remember do not fight for the last $$$.
BLOG does NOT give buy or sell.
Saleem
Saturday, March 20, 2010
Overbought stocks.....
Following stocks are "overbought" with RSI of 65 or higher.Please do your OWN due diligence by checking FA/TA/TAPE or other short term technical indicators.
ADSK,CSCO,CTRN,TLAB,DLM,M,NOK,
WMT,BIDU,CWTR,IACI,MCRL,SIMO,
LSI,CRM,JOF,......
Next post by noon on Sunday.
BLOG does NOT give buy or sell.
Saleem
ADSK,CSCO,CTRN,TLAB,DLM,M,NOK,
WMT,BIDU,CWTR,IACI,MCRL,SIMO,
LSI,CRM,JOF,......
Next post by noon on Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, March 19, 2010
Indices closed Down .35% to .71%......
Indices closing % loss was pretty mild when you look @ headline closing numbers...BUT internals were much weaker as listed below :
Down volume led by 3 to 1 in NYSE & 3.70 to 1 in Nasdaq
Declining stocks led by 2.38 to 1 in NYSE & 1.45 to 1 in Nasdaq
India raised its overnight lending rates & reserve requirement by .25%..2nd country to do so after Australia.....
PALM plunged 29.16% today after missing estimates & guidance.....
FUQI plunged another 13.66%......
By noon on Saturday a list of most extended stocks based on RSI....
BLOG does NOT give buy or sell.
Saleem
Down volume led by 3 to 1 in NYSE & 3.70 to 1 in Nasdaq
Declining stocks led by 2.38 to 1 in NYSE & 1.45 to 1 in Nasdaq
India raised its overnight lending rates & reserve requirement by .25%..2nd country to do so after Australia.....
PALM plunged 29.16% today after missing estimates & guidance.....
FUQI plunged another 13.66%......
By noon on Saturday a list of most extended stocks based on RSI....
BLOG does NOT give buy or sell.
Saleem
Indices retreating from SEVERE overbought conditions....
Indices are RED ...thanks to severe overbought conditions since March 09 slump.....
Gold Down $21.60
Oil Down $1.92
Canadian $ Down 25 tick to 98.47 US for 1 CAD
Portfolio is APWR,QID,VXX....
Most stocks are Down.....
@ 12.18 following are green :
QID,VXX,NXY,BIDU,RCI,CSIQ,TSL,
LVS,NDAQ......
BLOG does NOT give buy or sell.
Saleem
Gold Down $21.60
Oil Down $1.92
Canadian $ Down 25 tick to 98.47 US for 1 CAD
Portfolio is APWR,QID,VXX....
Most stocks are Down.....
@ 12.18 following are green :
QID,VXX,NXY,BIDU,RCI,CSIQ,TSL,
LVS,NDAQ......
BLOG does NOT give buy or sell.
Saleem
Thursday, March 18, 2010
Market internals were negative @ close ????
Indices mostly closed higher with S&P 500 barely in red.....BUT internals were decidedly negative in most category as listed below :
Declining stocks were in the lead by 17 to 12 in NYSE & 15 to 11 in Nasdaq
Down volume led by 58 to 32 in NYSE & 28 to 27 in Nasdaq...
Yes...volume still below average for most days in this rally ???
Many optimistic bulls are turning scared by this rally ....saying IF we were UP 15 days in a row..we will be down 15 days in a row also......
Many traders are announcing their short position...a rarity in hiding most of their trades from public???
All in all..... Internals, RSI are all pointing to a major hit in the markets.....
RSI @ close were :
Dow 73.03
S&P 500 74.97
Nasdaq 76.67
In the last 4 months...NEVER..we reached these levels in any Indices?????
Friday is our famous Triple expirations for Options...should be a "very interesting day"
VIX closed @ 16.62 Down 1.71% above its low of the day of 16.31..while VXX down 1.38%...
AH PALM ER & guidance was a major miss..Down AH 14.51% in AH volume of 2.27 million
TSL was down 11.01% on huge volume of 9.28 million on its secondary offering being priced @ $20.25 ????
AH Futures are mixed
AH Nikkei , Singapore UP
AH Oil,Gold,Silver Down
BLOG does NOT give buy or sell.
Saleem
Declining stocks were in the lead by 17 to 12 in NYSE & 15 to 11 in Nasdaq
Down volume led by 58 to 32 in NYSE & 28 to 27 in Nasdaq...
Yes...volume still below average for most days in this rally ???
Many optimistic bulls are turning scared by this rally ....saying IF we were UP 15 days in a row..we will be down 15 days in a row also......
Many traders are announcing their short position...a rarity in hiding most of their trades from public???
All in all..... Internals, RSI are all pointing to a major hit in the markets.....
RSI @ close were :
Dow 73.03
S&P 500 74.97
Nasdaq 76.67
In the last 4 months...NEVER..we reached these levels in any Indices?????
Friday is our famous Triple expirations for Options...should be a "very interesting day"
VIX closed @ 16.62 Down 1.71% above its low of the day of 16.31..while VXX down 1.38%...
AH PALM ER & guidance was a major miss..Down AH 14.51% in AH volume of 2.27 million
TSL was down 11.01% on huge volume of 9.28 million on its secondary offering being priced @ $20.25 ????
AH Futures are mixed
AH Nikkei , Singapore UP
AH Oil,Gold,Silver Down
BLOG does NOT give buy or sell.
Saleem
S&P 500 & Nasdaq RED......
Indices are struggling with severe overbought conditions.......S&P 500 & Nasdaq are in RED.....
Gold Down $4.40
Oil Down 88 cents
Canadian $ Down 33 tick to 98.66
In my portfolio :
Added 50% more VXX @ $22.06
Added 20% more APWR @ $12.47
Portfolio is APWR,VXX,QID....
@ 12.15 following are Green :
PWRD,FDX,TQNT,SOHU,NTES,AMZN,GAME,
PALM,FMCN,SNDA,NDAQ,FUQI,ASIA,SNE,VAR....
BLOG does NOT give buy or sell.
Saleem
Gold Down $4.40
Oil Down 88 cents
Canadian $ Down 33 tick to 98.66
In my portfolio :
Added 50% more VXX @ $22.06
Added 20% more APWR @ $12.47
Portfolio is APWR,VXX,QID....
@ 12.15 following are Green :
PWRD,FDX,TQNT,SOHU,NTES,AMZN,GAME,
PALM,FMCN,SNDA,NDAQ,FUQI,ASIA,SNE,VAR....
BLOG does NOT give buy or sell.
Saleem
Wednesday, March 17, 2010
Highest close in all Indices...NICE !!!!
All Indices has the same thing going now...a new high @ close...Dow was the last Index to make the grade.....
Today's TAPE was different from other close ? we closed well below high of the day.....many stocks actually were in RED ? a definite sign of market getting "very tired"....
Stocks which closed RED included VXX,AGU,IPI,SINA,RIMM,BIDU,MA,V,
AAPL,LVS,TLM,AMZN,POT,X,GNK,IAG,CIEN,SNDK,FMCN,CYOU,CSIQ....
RSI is "screaming sell"...as per close today as listed below :
Dow 71.07
S&P 500 75.33
Nasdaq 76.39
These are extremely high numbers not matched anytime in last 4 months????
I have seen markets "being pushed higher & higher ONLY to collapse later big time"
I will NOT recommend anything but "daytrading" for traders......
Market has taken away much very quickly in the past......preserving equity has to be high priority NOW......
I have minimum exposure in this market.... lowest since March crash.......
In my portfolio :
Sold GNK
Bought QID @ $ 17.16..Double short on Nasdaq......
Portfolio is APWR,VXX,QID
SO... I have one long APWR & two short VXX & QID....with 20% exposure in this market.....
Canadian $ reached 17 months high trading @ above 99 cents US.....a very bright spot in my portfolio as I have remained short US$......
FUQI was a disaster on accounting issues & lowered guidance Down 37.37% on volume which was 20 times higher than average.......
VIX went to new 52wk low of 16.52... but closed above @ 16.91 Down 4.41%..VXX was down 3.37%
AH Futures are mixed
AH Nikkei & Singapore Down
AH Oil,Gold,Silver Down
AH TSL announced another secondary Down 4.68%...
PS...was tied up with visitors, was unable to post noon BLOG....my apology !!!
BLOG does NOT give buy or sell.
Saleem
Today's TAPE was different from other close ? we closed well below high of the day.....many stocks actually were in RED ? a definite sign of market getting "very tired"....
Stocks which closed RED included VXX,AGU,IPI,SINA,RIMM,BIDU,MA,V,
AAPL,LVS,TLM,AMZN,POT,X,GNK,IAG,CIEN,SNDK,FMCN,CYOU,CSIQ....
RSI is "screaming sell"...as per close today as listed below :
Dow 71.07
S&P 500 75.33
Nasdaq 76.39
These are extremely high numbers not matched anytime in last 4 months????
I have seen markets "being pushed higher & higher ONLY to collapse later big time"
I will NOT recommend anything but "daytrading" for traders......
Market has taken away much very quickly in the past......preserving equity has to be high priority NOW......
I have minimum exposure in this market.... lowest since March crash.......
In my portfolio :
Sold GNK
Bought QID @ $ 17.16..Double short on Nasdaq......
Portfolio is APWR,VXX,QID
SO... I have one long APWR & two short VXX & QID....with 20% exposure in this market.....
Canadian $ reached 17 months high trading @ above 99 cents US.....a very bright spot in my portfolio as I have remained short US$......
FUQI was a disaster on accounting issues & lowered guidance Down 37.37% on volume which was 20 times higher than average.......
VIX went to new 52wk low of 16.52... but closed above @ 16.91 Down 4.41%..VXX was down 3.37%
AH Futures are mixed
AH Nikkei & Singapore Down
AH Oil,Gold,Silver Down
AH TSL announced another secondary Down 4.68%...
PS...was tied up with visitors, was unable to post noon BLOG....my apology !!!
BLOG does NOT give buy or sell.
Saleem
Tuesday, March 16, 2010
Record close for S&P 500 & Nasdaq......NICE !!!!
Fed statement was taken as positive by markets.....
S&P 500 & Nasdaq closed @ new highs...which IS extremely positive....
Dow is 43.91 points away from making a new high.....
Internals were positive with advancing stocks leading by 22 to 8 in NYSE & 16 to 10 in Nasdaq
New 52 wk highs were 378 in NYSE & 198 in Nasdaq....
ONLY weakness has been & remains IS volume..which was still below average in all Indices.....
In my portfolio :
Sold SOL
Sold IAG
Added 36% more APWR @ $12.59
Bought VXX @ $23.06
Portfolio is APWR,GNK,VXX.....25% exposure in this market?
RSI is pushing ABOVE 4 months average in all Indices as listed below :
Dow 68.87
S&P 500 73.19
Nasdaq 74.93
VIX closed @ 17.69 Down 1.72%...while VXX was down 3.05%....which peaked my interest...VXX traded 6.74 million shares......
AH futures are mixed
AH Nikkei,Shanghai & Singapore UP
AHOil, Gold & Silver UP
AH FMCN ER was a beat UP 7.75% on AH volume of 120,034
BLOG does NOT give buy or sell.
Saleem
S&P 500 & Nasdaq closed @ new highs...which IS extremely positive....
Dow is 43.91 points away from making a new high.....
Internals were positive with advancing stocks leading by 22 to 8 in NYSE & 16 to 10 in Nasdaq
New 52 wk highs were 378 in NYSE & 198 in Nasdaq....
ONLY weakness has been & remains IS volume..which was still below average in all Indices.....
In my portfolio :
Sold SOL
Sold IAG
Added 36% more APWR @ $12.59
Bought VXX @ $23.06
Portfolio is APWR,GNK,VXX.....25% exposure in this market?
RSI is pushing ABOVE 4 months average in all Indices as listed below :
Dow 68.87
S&P 500 73.19
Nasdaq 74.93
VIX closed @ 17.69 Down 1.72%...while VXX was down 3.05%....which peaked my interest...VXX traded 6.74 million shares......
AH futures are mixed
AH Nikkei,Shanghai & Singapore UP
AHOil, Gold & Silver UP
AH FMCN ER was a beat UP 7.75% on AH volume of 120,034
BLOG does NOT give buy or sell.
Saleem
Greece & Fed lifting markets......
Greece has been taken off credit watch list & optimism from Fed statement keeping markets in record territory......Indices UP .18% to .43%......
S&P 500 making another High of the year...Nasdaq almost touched recent high......
Gold UP $19.30 to $1124.40
Oil UP $2.14 to $82.22
Canadian $ UP 54 tick to record high 98.57 cents US for 1 CAD..Canadian Finance Minister seems happy that Canadian $ is strong for many reasons......
In my portfolio :
SOLD SLW..Booked profit
SOLD MU..Booked profit
Portfolio is APWR,GNK,IAG,SOL......
Most stocks are UP.....
@ 12.40 following are RED....
APWR,GNK,SOL,VXX,QID,SOHU,RIMM,
NTES,CMED,BIDU,MA,V,NDN,PALM,M,
RVBD,TC,EXPE,TSL,CSIQ,GAME,FMCN,
ECA,SNDA,SNE,VAR.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 making another High of the year...Nasdaq almost touched recent high......
Gold UP $19.30 to $1124.40
Oil UP $2.14 to $82.22
Canadian $ UP 54 tick to record high 98.57 cents US for 1 CAD..Canadian Finance Minister seems happy that Canadian $ is strong for many reasons......
In my portfolio :
SOLD SLW..Booked profit
SOLD MU..Booked profit
Portfolio is APWR,GNK,IAG,SOL......
Most stocks are UP.....
@ 12.40 following are RED....
APWR,GNK,SOL,VXX,QID,SOHU,RIMM,
NTES,CMED,BIDU,MA,V,NDN,PALM,M,
RVBD,TC,EXPE,TSL,CSIQ,GAME,FMCN,
ECA,SNDA,SNE,VAR.....
BLOG does NOT give buy or sell.
Saleem
Monday, March 15, 2010
Green close for S&P 500 & Dow...NICE !!!!
Dow & S&P 500 closed green while Nasdaq gave up 5 points.
Internals were negative for all indices......
It is "extremely uncomfortable" for me to be long in this market ..so my focus has been to lock any gains very quickly.....
Volume was well below average AGAIN ????
RSI has been in "nosebleed territory" as listed below @ today's close :
Dow 66.71
S&P 500 69.99
Nasdaq 72.71
Fed will come out with their statement @2.15 PM, which will get the usual reaction from "supercomputers" UP,DOWN,UP,DOWN......
Strong stocks included BIDU,EXPE,FMCN,FNSR......
VIX closed @ 18 UP 2.39% ???
AH Futures are mixed
AH Gold,Silver UP
BLOG does NOT give buy or sell.
Saleem
Internals were negative for all indices......
It is "extremely uncomfortable" for me to be long in this market ..so my focus has been to lock any gains very quickly.....
Volume was well below average AGAIN ????
RSI has been in "nosebleed territory" as listed below @ today's close :
Dow 66.71
S&P 500 69.99
Nasdaq 72.71
Fed will come out with their statement @2.15 PM, which will get the usual reaction from "supercomputers" UP,DOWN,UP,DOWN......
Strong stocks included BIDU,EXPE,FMCN,FNSR......
VIX closed @ 18 UP 2.39% ???
AH Futures are mixed
AH Gold,Silver UP
BLOG does NOT give buy or sell.
Saleem
.38% to .90% pullback in Indices.......
Indices are in negative as expected BUT in a much milder mode......
Reason for this pullback keeps changing but it is because of overbought conditions.....
Gold UP $3.70 BUT Gold stocks are Down
Oil Down $1.70
Canadian $ Down 40 tick to 97.91
In my portfolio :
Sold VXX to book profit
Bought MU @ $9.61
Bought GNK @ $21.60
Bought SOL @ $5.09
Portfolio is APWR,AUY,GNK,MU,SOL,SLW......
I am in a daytrading mode booking profit as they come......
Following are green @ 12.09 :
VXX,QID,BIDU,RIMM,PALM,GE,RCI,
SNDA,CTRN,TKC,LULU,VAR.....
BLOG does NOT give buy or sell.
Saleem
Reason for this pullback keeps changing but it is because of overbought conditions.....
Gold UP $3.70 BUT Gold stocks are Down
Oil Down $1.70
Canadian $ Down 40 tick to 97.91
In my portfolio :
Sold VXX to book profit
Bought MU @ $9.61
Bought GNK @ $21.60
Bought SOL @ $5.09
Portfolio is APWR,AUY,GNK,MU,SOL,SLW......
I am in a daytrading mode booking profit as they come......
Following are green @ 12.09 :
VXX,QID,BIDU,RIMM,PALM,GE,RCI,
SNDA,CTRN,TKC,LULU,VAR.....
BLOG does NOT give buy or sell.
Saleem
Sunday, March 14, 2010
Dont fight for the last dollar....RSI spells trouble ahead....
Markets have gone from 1044.50 to 1153.41in S&P 500..a gain of 108.91 points or +10.43% in a short span of five weeks...this is the steepest gain since March lows.......
Investors bullish reading shot up to 45% from 35% last week.....
Triple witching is this Friday......
RSI reading in all indices are @ or above previous 4 month highs...which has resulted in "major downtrend" each time from those levels.......
Nasdaq RSI in 4 month 14 day table shows a reading of 74.84.....which is the HIGHEST level in 4 months.....each time when Nasdaq RSI was this high we went down in a hurry to test support...RSI in each instance went to either 42 area or as low as 32 area......which was the low point @ 1044.50........
For traders....it is an ongoing evaluation of risk/reward ratio.....currently it IS a very high risk scenario.....so make sure you are ready to ride it down to support wherever it may exist.....
Most of the catalysts for an uptrend is already priced in......thus a pullback is imminent......
Next catalyst for the market will come in first week of April...when Jobs report should be above expectations......till then there is three weeks of doldrums which may not be pleasant for uber-optimistic crowd.....
WHY..am I NOT optimistic @ this stage ???
Because...market is a discounting mechanism & currently it has a lag time based on SEASONALITY & CATALYST.....
Q2 generally is a slow period for Techs & markets in general........so a CAUTIONARY approach is PRUDENT.....
After Q2 ER is out..guidance generally will be better as Tech & Retails are preparing for busy Fall orders..which is back to school time....it will be a back-end loaded Q for most......
Markets will remain in a trading range as US markets are known for......
Selling @ Highest RSI & Buying near low RSI is a "no brainer"......
I am expecting next 3 weeks to be PAINFUL as market digest all the euphoria which is priced IN......
I am closely looking @ adding more BEARISH bets on Monday.....
Also....I am looking @ exiting some long position or doing covered write IF they are not profitable......
Covered write will Lower my cost base.......
It will be wise to LOCK what market is giving you & change STRATEGY @ the same time......
Some easy bearish bets can be done through QID,DXD,SKF...they are all Double short which is meant to catch short term declines....NOT a buy or Hold ideas.....
Puts in overbought stocks is another strategy which can be implemented......
Writing covered call is a safe strategy to recoup some of lost equity in any decline......
I am sure you all have different take on markets & trading strategy.....I have just listed what I am looking @ near term......
You have to feel comfortable in your OWN interpretations of all the analysis which you read or heard.....In the end it is your hard earned $ which is @ stake......
Here is my $ allocation/sectors/RSI
APWR 35.16% AE/Wind Turbine 51.61
IAG 25.56% Gold Mining 47.25
SLW 22.17% Silver Reseller 52.72
VXX 17.11% Long VIX (Bearish Bet) 27.27
So..currently I have long position of 82.89% & Short 17.11%...this ratio will change further on Monday towards defensive bets.......
Good luck with your portfolio...remember none of us is capable of predicting the direction of markets BUT it is good to do a serious review near major TOPS & BOTTOMS........
BLOG does NOT give buy or sell.
Saleem
Investors bullish reading shot up to 45% from 35% last week.....
Triple witching is this Friday......
RSI reading in all indices are @ or above previous 4 month highs...which has resulted in "major downtrend" each time from those levels.......
Nasdaq RSI in 4 month 14 day table shows a reading of 74.84.....which is the HIGHEST level in 4 months.....each time when Nasdaq RSI was this high we went down in a hurry to test support...RSI in each instance went to either 42 area or as low as 32 area......which was the low point @ 1044.50........
For traders....it is an ongoing evaluation of risk/reward ratio.....currently it IS a very high risk scenario.....so make sure you are ready to ride it down to support wherever it may exist.....
Most of the catalysts for an uptrend is already priced in......thus a pullback is imminent......
Next catalyst for the market will come in first week of April...when Jobs report should be above expectations......till then there is three weeks of doldrums which may not be pleasant for uber-optimistic crowd.....
WHY..am I NOT optimistic @ this stage ???
Because...market is a discounting mechanism & currently it has a lag time based on SEASONALITY & CATALYST.....
Q2 generally is a slow period for Techs & markets in general........so a CAUTIONARY approach is PRUDENT.....
After Q2 ER is out..guidance generally will be better as Tech & Retails are preparing for busy Fall orders..which is back to school time....it will be a back-end loaded Q for most......
Markets will remain in a trading range as US markets are known for......
Selling @ Highest RSI & Buying near low RSI is a "no brainer"......
I am expecting next 3 weeks to be PAINFUL as market digest all the euphoria which is priced IN......
I am closely looking @ adding more BEARISH bets on Monday.....
Also....I am looking @ exiting some long position or doing covered write IF they are not profitable......
Covered write will Lower my cost base.......
It will be wise to LOCK what market is giving you & change STRATEGY @ the same time......
Some easy bearish bets can be done through QID,DXD,SKF...they are all Double short which is meant to catch short term declines....NOT a buy or Hold ideas.....
Puts in overbought stocks is another strategy which can be implemented......
Writing covered call is a safe strategy to recoup some of lost equity in any decline......
I am sure you all have different take on markets & trading strategy.....I have just listed what I am looking @ near term......
You have to feel comfortable in your OWN interpretations of all the analysis which you read or heard.....In the end it is your hard earned $ which is @ stake......
Here is my $ allocation/sectors/RSI
APWR 35.16% AE/Wind Turbine 51.61
IAG 25.56% Gold Mining 47.25
SLW 22.17% Silver Reseller 52.72
VXX 17.11% Long VIX (Bearish Bet) 27.27
So..currently I have long position of 82.89% & Short 17.11%...this ratio will change further on Monday towards defensive bets.......
Good luck with your portfolio...remember none of us is capable of predicting the direction of markets BUT it is good to do a serious review near major TOPS & BOTTOMS........
BLOG does NOT give buy or sell.
Saleem
Saturday, March 13, 2010
SELL rated stocks based on RSI........
Following stocks are flashing sell signal based on overbought conditions as reflected in RSI of 65 or more.Please do your OWN due diligence by checking FA/TA/TAPE & other short term technical indicators.
AAPL,POT,BIDU,RIMM,ISRG,CREE,
MA,V,GOOG,QQQQ,XLF,M,WYNN,LVS,
VMW,EMC,AGU,IPI,CAGC,GS,C,IBN,
X,LULU.....
Next post by noon on Sunday.
BLOG does NOT give buy or sell.
Saleem
AAPL,POT,BIDU,RIMM,ISRG,CREE,
MA,V,GOOG,QQQQ,XLF,M,WYNN,LVS,
VMW,EMC,AGU,IPI,CAGC,GS,C,IBN,
X,LULU.....
Next post by noon on Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, March 12, 2010
Flat day @ close in markets......
Markets stayed in a narrow range & closed mostly unchanged.....volume stayed below average.
S&P 500 broke above to 1153.41 higher than previous high of 1150.45 but closed @ 1149.99
Internals were weak in Nasdaq where declining stocks held the lead......
VIX was Down 2.66% BUT VXX Down only .96%......VXX has "outperformed" VIX two days in a row....which negates some of the conclusions being posted on VXX MB.....little knowledge is always dangerous to financial health of followers of poorly written research.....
VXX started trading from Jan 2009 based on short term futures contract of VIX......based on past factual data factoring all expenses & daily rebalancing of VXX...it was Down 75% while VIX without daily rebalancing & expenses it was Down 55%......so pretty close tracking once you figure out some expenses & rebalancing......all data reflects stat from Jan 09 to Feb 10... 14 months of tracking.....
VIX is based on Spot prices while VXX is based on near months futures prices of VIX.....there is an ongoing difference of 5% to 10% higher prices for futures.....generally speaking.....
I will keep VXX till market finds footing & will report daily on its performance compared to VIX...the best way to learn is to track daily & see how it really works......
By noon Saturday ..I will list "sell candidates" based on RSI......
BLOG does NOT give buy or sell.
Saleem
S&P 500 broke above to 1153.41 higher than previous high of 1150.45 but closed @ 1149.99
Internals were weak in Nasdaq where declining stocks held the lead......
VIX was Down 2.66% BUT VXX Down only .96%......VXX has "outperformed" VIX two days in a row....which negates some of the conclusions being posted on VXX MB.....little knowledge is always dangerous to financial health of followers of poorly written research.....
VXX started trading from Jan 2009 based on short term futures contract of VIX......based on past factual data factoring all expenses & daily rebalancing of VXX...it was Down 75% while VIX without daily rebalancing & expenses it was Down 55%......so pretty close tracking once you figure out some expenses & rebalancing......all data reflects stat from Jan 09 to Feb 10... 14 months of tracking.....
VIX is based on Spot prices while VXX is based on near months futures prices of VIX.....there is an ongoing difference of 5% to 10% higher prices for futures.....generally speaking.....
I will keep VXX till market finds footing & will report daily on its performance compared to VIX...the best way to learn is to track daily & see how it really works......
By noon Saturday ..I will list "sell candidates" based on RSI......
BLOG does NOT give buy or sell.
Saleem
Indices mixed........
Indices are mixed after reports.....retail better BUT consumer sentiments still below consensus......
Canadian job growth is exceeding expectations which has taken Canadian $ into record of 98.22 cents US for 1 CAD......UP 50 tick
Gold Down $6.40
Oil Down $1.13
In my portfolio :
Sold MU
Bought VXX which is long VIX based on S&P 500.....a defensive move....goes UP when VIX goes UP....
Portfolio is APWR,IAG,SLW,VXX......
@ 1.14 following are green :
APWR,SINA,SOHU,PWRD,NTES,CMED,
POT,IPI,AGU,BIDU,GOOG,GS,MA,GNK,
M,LVS,AAPL,X,TSL,MU......
BLOG does NOT give buy or sell.
Saleem
Canadian job growth is exceeding expectations which has taken Canadian $ into record of 98.22 cents US for 1 CAD......UP 50 tick
Gold Down $6.40
Oil Down $1.13
In my portfolio :
Sold MU
Bought VXX which is long VIX based on S&P 500.....a defensive move....goes UP when VIX goes UP....
Portfolio is APWR,IAG,SLW,VXX......
@ 1.14 following are green :
APWR,SINA,SOHU,PWRD,NTES,CMED,
POT,IPI,AGU,BIDU,GOOG,GS,MA,GNK,
M,LVS,AAPL,X,TSL,MU......
BLOG does NOT give buy or sell.
Saleem
Sold MU $10.25 & bought VXX $23.90
Sold my entire position in MU @ $10.25 HOD so far to book quick profit...
Bought VXX @ $23.90... a bearish bet in market......
Portfolio is APWR,IAG,SLW,VXX.....
BLOG does NOT give buy or sell.
Saleem
Bought VXX @ $23.90... a bearish bet in market......
Portfolio is APWR,IAG,SLW,VXX.....
BLOG does NOT give buy or sell.
Saleem
Thursday, March 11, 2010
All Indices @ or near record levels..RSI too HIGH...
Indices are @ or near record levels as expected.....
IS Friday the-day to lock profit & start defensive strategy...I believe YES......
Nasdaq @ series of record close.....
S&P 500 to cross 1150.....
Dow could touch its old high....
RSI flashing Sell signal based on 4 month trend......
Here is the RSI read @ close :
Dow 65.21
S&P 500 69.99
Nasdaq 75.13
Volume today was below average....sign of TIRED market......?????
VIX closed @ 18.06 down <2.75%>....BUT VXX closed UP.80% on huge volume of 6.47 million shares...which IS a contradiction....?????
No matter what you decide to do ....make sure you ARE comfortable with your OWN risk tolerance.....currently in my analysis RISK to REWARD ratio is NOT good @ all.......
AH POT raised EPS guidance stock UP AH $8.79 or 7.52%...other AG stocks also UP in sympathy....
AH Futures are small RED
AH Asian markets are UP
AH Gold,Silver,Oil UP.....
BLOG does NOT give buy or sell.
Saleem
IS Friday the-day to lock profit & start defensive strategy...I believe YES......
Nasdaq @ series of record close.....
S&P 500 to cross 1150.....
Dow could touch its old high....
RSI flashing Sell signal based on 4 month trend......
Here is the RSI read @ close :
Dow 65.21
S&P 500 69.99
Nasdaq 75.13
Volume today was below average....sign of TIRED market......?????
VIX closed @ 18.06 down <2.75%>....BUT VXX closed UP.80% on huge volume of 6.47 million shares...which IS a contradiction....?????
No matter what you decide to do ....make sure you ARE comfortable with your OWN risk tolerance.....currently in my analysis RISK to REWARD ratio is NOT good @ all.......
AH POT raised EPS guidance stock UP AH $8.79 or 7.52%...other AG stocks also UP in sympathy....
AH Futures are small RED
AH Asian markets are UP
AH Gold,Silver,Oil UP.....
BLOG does NOT give buy or sell.
Saleem
Indices slightly lower on Chinese Inflation fear....
Chinese Inflation fear is causing Indices to trade slightly lower......this IS an indication of the strength of this uptrend...this should have caused triple digit loss easily...BUT we are down .19% max ..so far.....
Gold Down $2.50
Oil Down 26 cents
Canadian $ @ 97.35 unchanged level , as our housing activity exceeding consensus estimate AGAIN.....
In my portfolio :
SOLD PALM...booked loss
Bought MU @ $9.69
Portfolio is APWR,IAG,MU,SLW......
@ 12.50 following are green :
APWR,SLW,IAG,PWRD,RIMM,CSIQ,TSL,
CREE,GOOG,BIDU,V,AMZN,GG,SNDA,
CTRN,AEM,ABX,FSLR,GS,IBN......
BLOG does NOT give buy or sell.
Saleem
Gold Down $2.50
Oil Down 26 cents
Canadian $ @ 97.35 unchanged level , as our housing activity exceeding consensus estimate AGAIN.....
In my portfolio :
SOLD PALM...booked loss
Bought MU @ $9.69
Portfolio is APWR,IAG,MU,SLW......
@ 12.50 following are green :
APWR,SLW,IAG,PWRD,RIMM,CSIQ,TSL,
CREE,GOOG,BIDU,V,AMZN,GG,SNDA,
CTRN,AEM,ABX,FSLR,GS,IBN......
BLOG does NOT give buy or sell.
Saleem
Wednesday, March 10, 2010
Nasdaq closed @ new high on high volume...NICE !!!!
Volume has picked up & its running above average.....
Nasdaq making new highs ......
DOW & S&P 500 are ready to make new highs.....
Internals staying strong.....almost 2 to 1 led by advancing stocks
New 52 wk highs were 393 in NYSE & 229 in Nasdaq....
Many stocks were UP 3% or more included SOLF,MU,CSIQ,
LVS,ABK,C,FUQI,BZH......
AH Futures are mixed
AH Nikkei is UP
AH Hang Seng Down
AH Shanghai is UP...China CPI came in HOTTER than expected...
AH Gold is UP
BLOG does NOT give buy or sell.
Saleem
Nasdaq making new highs ......
DOW & S&P 500 are ready to make new highs.....
Internals staying strong.....almost 2 to 1 led by advancing stocks
New 52 wk highs were 393 in NYSE & 229 in Nasdaq....
Many stocks were UP 3% or more included SOLF,MU,CSIQ,
LVS,ABK,C,FUQI,BZH......
AH Futures are mixed
AH Nikkei is UP
AH Hang Seng Down
AH Shanghai is UP...China CPI came in HOTTER than expected...
AH Gold is UP
BLOG does NOT give buy or sell.
Saleem
Nasdaq making higher HIGHS....NICE !!!!
Nasdaq marched into new 52 wk high AGAIN......
S&P 500 came within 2 points of 1150.45 by hitting 1148.06 high so far...
Dow also hit 10,601.79 as high today.......
It feels ..that Indices wants to make new highs as Nasdaq keeps doing it......
Here is the RSI for Indices :
Dow 61.66
S&P 500 67.21
Nasdaq 73.08
Taking profit above 1160 in S&P 500 is PRUDENT.......
Gold Down $9.90 to $1112.10
Oil Down 26 cents to $81.23
Canadian $ UP 4 tick to $97.40
Portfolio is APWR,IAG,PALM,SLW.....
@ 12.54 following are green :
CREE,PWRD,RCI,ISRG,RIMM,GOOG,BIDU,
MA,V,LVS,AAPL,POT,MRVL,MU,PWRD,GNK,
TCK,CTRN,WYNN,FUQI,VLO,FSLR,SPWRA,
GS,VAR,SNE.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 came within 2 points of 1150.45 by hitting 1148.06 high so far...
Dow also hit 10,601.79 as high today.......
It feels ..that Indices wants to make new highs as Nasdaq keeps doing it......
Here is the RSI for Indices :
Dow 61.66
S&P 500 67.21
Nasdaq 73.08
Taking profit above 1160 in S&P 500 is PRUDENT.......
Gold Down $9.90 to $1112.10
Oil Down 26 cents to $81.23
Canadian $ UP 4 tick to $97.40
Portfolio is APWR,IAG,PALM,SLW.....
@ 12.54 following are green :
CREE,PWRD,RCI,ISRG,RIMM,GOOG,BIDU,
MA,V,LVS,AAPL,POT,MRVL,MU,PWRD,GNK,
TCK,CTRN,WYNN,FUQI,VLO,FSLR,SPWRA,
GS,VAR,SNE.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, March 9, 2010
Green close in Indices....NICE !!!!
Nasdaq closed @ highest level since March crash & IS near Sep 08 level....highest point in almost 19 months.....
Dow & S&P 500 are getting close to taking their Jan 10 highs........
RSI closed @ these levels :
Dow 62.89
S&P 500 66.60
Nasdaq 71.65
There is a sense of euphoria setting IN & everybody IS getting very comfortable with this UPtrend....so CAUTION is necessary by booking profit IF you have ANY.....a reduced exposure MAY not be a bad idea as we cross 1160 in S&P 500......
VIX closed @ 17.92 UP .73%...it is possible that VIX MAY go to new 52 wk lows.....
AH Futures are mixed
AH Oil,Gold,Silver Down
AH Nikkei & Singapore UP
BLOG does NOT give buy or sell.
Saleem
Dow & S&P 500 are getting close to taking their Jan 10 highs........
RSI closed @ these levels :
Dow 62.89
S&P 500 66.60
Nasdaq 71.65
There is a sense of euphoria setting IN & everybody IS getting very comfortable with this UPtrend....so CAUTION is necessary by booking profit IF you have ANY.....a reduced exposure MAY not be a bad idea as we cross 1160 in S&P 500......
VIX closed @ 17.92 UP .73%...it is possible that VIX MAY go to new 52 wk lows.....
AH Futures are mixed
AH Oil,Gold,Silver Down
AH Nikkei & Singapore UP
BLOG does NOT give buy or sell.
Saleem
Higher highs in all Indices...NICE !!!!
All Indices are making higher highs.....
When Fast Money crowd is talking about imaginary resistance @ every 5 points higher...then you know we are going higher.....the only resistance is near 1200 area in S&P 500......
RSI are as follows :
Dow 64.13
S&P 500 67.58
Nasdaq 72.71
Booking profit in 70 area never hurts...then daytrade for quick profit.....
Gold Down $4.00
Oil Down 12 cents
Canadian $ UP @ new 52 wk high @ 97.54
Portfolio is APWR,IAG,PALM,SLW.....
@ 12.50 following are green :
APWR,PALM,SLW,AAPL,RIMM,GS,MRVL,
SOHU,CREE,BIDU,MA,V,NVDA,POT,AGU....
BLOG does NOT give buy or sell.
Saleem
When Fast Money crowd is talking about imaginary resistance @ every 5 points higher...then you know we are going higher.....the only resistance is near 1200 area in S&P 500......
RSI are as follows :
Dow 64.13
S&P 500 67.58
Nasdaq 72.71
Booking profit in 70 area never hurts...then daytrade for quick profit.....
Gold Down $4.00
Oil Down 12 cents
Canadian $ UP @ new 52 wk high @ 97.54
Portfolio is APWR,IAG,PALM,SLW.....
@ 12.50 following are green :
APWR,PALM,SLW,AAPL,RIMM,GS,MRVL,
SOHU,CREE,BIDU,MA,V,NVDA,POT,AGU....
BLOG does NOT give buy or sell.
Saleem
Monday, March 8, 2010
Nasdaq closed @ another high...NICE !!!
Nasdaq was the lone index making another high....
Dow & S&P 500 closed slightly red......
Gold closed @ $1123.60
Oil closed @ $81.47
Canadian $ closed @ 52 wk high @ 97.36 US for 1 CAD......
Strong stocks UP 3% or more included :
RIMM,RVBD,LVS,X......
AH TXN updated its Q1 outlook to in-line with consensus..AH stock down 23 cents in AH volume of 1.76 million.....
AH futures are RED......
AH Nikkei & Shanghai Down
AH Gold ,Silver & Oil down....
BLOG does NOT give buy or sell.
Saleem
Dow & S&P 500 closed slightly red......
Gold closed @ $1123.60
Oil closed @ $81.47
Canadian $ closed @ 52 wk high @ 97.36 US for 1 CAD......
Strong stocks UP 3% or more included :
RIMM,RVBD,LVS,X......
AH TXN updated its Q1 outlook to in-line with consensus..AH stock down 23 cents in AH volume of 1.76 million.....
AH futures are RED......
AH Nikkei & Shanghai Down
AH Gold ,Silver & Oil down....
BLOG does NOT give buy or sell.
Saleem
Nasdaq continues its "higher HIGHS"...NICE !!!!
Nasdaq is leading other indices this morning..its UP into higher grounds ...S&P & Dow are digesting gains are currently in negative......
Gold Down $13.60
Oil Down 71 cents
Canadian $ near unchanged level
Portfolio is APWR,IAG,PALM,SLW......
APWR went below 200 DMA of $12.22 on heavy volume.....technical selling triggered .....Capitulation finally????
@ 12.19 following are green :
RIMM,SOHU,PWRD,SINA,NTES,BIDU,GS,MA,V,
NDN,M,LVS,X,AMZN,POT,ASIA,RVBD,FMCN,SNDA,
WYNN.....
BLOG does NOT give buy or sell.
Saleem
Gold Down $13.60
Oil Down 71 cents
Canadian $ near unchanged level
Portfolio is APWR,IAG,PALM,SLW......
APWR went below 200 DMA of $12.22 on heavy volume.....technical selling triggered .....Capitulation finally????
@ 12.19 following are green :
RIMM,SOHU,PWRD,SINA,NTES,BIDU,GS,MA,V,
NDN,M,LVS,X,AMZN,POT,ASIA,RVBD,FMCN,SNDA,
WYNN.....
BLOG does NOT give buy or sell.
Saleem
Sunday, March 7, 2010
Is market going in an "overdrive mode" ?????
Friday's close near high of the day & Nasdaq high of the year close...is giving a "technical breakout"......
Momentum traders will run this market towards new highs in all Indices......
1200 area in S&P 500..looks like a "real possibility"
Markets will get "overbought" in this RUNUP.......
Currently RSI are as follows :
Dow 63.34
S&P 500 66.04
Nasdaq 69.72
In last four months Nasdaq RSI has runup to 75 area...then a major pullback......so traders should keep this in their trading strategy......other Indices barely touched 70 then pulled back.....
VIX also getting close to 52 week low which is 16.86..currently we are @ 17.42......YES..VIX could go below 16.86 ...but again monitor this closely for locking profits....
SO.....what is a good strategy now......
Consider locking profit.......
IF you are a long-term investor...then there is nothing to do.....stay in stronger stocks in diversified sectors.....some speculative stock may not be a bad idea........
It will be PRUDENT to REDUCE exposure once we cross 1160 in S&P 500.......
After every euphoric move......there is a long digestive process...could be until next "oversold" conditions arrive.....
Oversold conditions are defined as when RSI is between 35 to 45 area based on last 4 months RSI stat....
Locking profit when RSI in your stocks are @ 70 area is a "very safe strategy".....sometimes stocks do hit RSI 80 on momentum alone????
Here is my $ allocation/sector/RSI current/RSI high
APWR 31.26% AE/Wind Turbines 43.29 82.00
IAG 25.53% Gold Mining 57.47 72.00
PALM 22.42% Tech/Smartphone 20.79 68.00
SLW 20.79% Silver reseller 54.00 68.00
My portfolio has underperformed lately due to many losing position.....APWR,PALM has been subjected to major "bear attack"......it is NOT good to have 53% of portfolio going South..while market is going North.....so..i wait till they "turnaround"..Patience has become a strategy......
Please do analyze your portfolio based on any technical indicators you have expertise in......markets CAN go in the wrong direction very quickly.....there IS such a thing as overbought & oversold........
BLOG does NOT give buy or sell.
Saleem
Momentum traders will run this market towards new highs in all Indices......
1200 area in S&P 500..looks like a "real possibility"
Markets will get "overbought" in this RUNUP.......
Currently RSI are as follows :
Dow 63.34
S&P 500 66.04
Nasdaq 69.72
In last four months Nasdaq RSI has runup to 75 area...then a major pullback......so traders should keep this in their trading strategy......other Indices barely touched 70 then pulled back.....
VIX also getting close to 52 week low which is 16.86..currently we are @ 17.42......YES..VIX could go below 16.86 ...but again monitor this closely for locking profits....
SO.....what is a good strategy now......
Consider locking profit.......
IF you are a long-term investor...then there is nothing to do.....stay in stronger stocks in diversified sectors.....some speculative stock may not be a bad idea........
It will be PRUDENT to REDUCE exposure once we cross 1160 in S&P 500.......
After every euphoric move......there is a long digestive process...could be until next "oversold" conditions arrive.....
Oversold conditions are defined as when RSI is between 35 to 45 area based on last 4 months RSI stat....
Locking profit when RSI in your stocks are @ 70 area is a "very safe strategy".....sometimes stocks do hit RSI 80 on momentum alone????
Here is my $ allocation/sector/RSI current/RSI high
APWR 31.26% AE/Wind Turbines 43.29 82.00
IAG 25.53% Gold Mining 57.47 72.00
PALM 22.42% Tech/Smartphone 20.79 68.00
SLW 20.79% Silver reseller 54.00 68.00
My portfolio has underperformed lately due to many losing position.....APWR,PALM has been subjected to major "bear attack"......it is NOT good to have 53% of portfolio going South..while market is going North.....so..i wait till they "turnaround"..Patience has become a strategy......
Please do analyze your portfolio based on any technical indicators you have expertise in......markets CAN go in the wrong direction very quickly.....there IS such a thing as overbought & oversold........
BLOG does NOT give buy or sell.
Saleem
Saturday, March 6, 2010
Buy rated stocks.....
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
SLW,IAG,PRGN,CETV,LVS,PLA,FWLT,AMTD,
NXY,SAY,CSR,AMKR,CIEN,CTRP,SOHU,ZRAN,
HMC,WFR,TSM,KBH,PWRD.
Next post by noon on Sunday.
BLOG does NOT give buy or sell.
Saleem
SLW,IAG,PRGN,CETV,LVS,PLA,FWLT,AMTD,
NXY,SAY,CSR,AMKR,CIEN,CTRP,SOHU,ZRAN,
HMC,WFR,TSM,KBH,PWRD.
Next post by noon on Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, March 5, 2010
Nasdaq closed @ new HIGH on high volume....NICE !!!
Nasdaq is the first index not only made new post crash high BUT it closed @ new high....on high volume.....
S&P 500 & Dow closed near high of the day on higher volume..BUT not @ new highs YET.....
Gold gained $2.20 @ $1134.80
Oil closed @ $81.50 UP $1.58
Canadian $ had its highest close in a year 97.23 US for 1 CAD
Stocks closing UP 3% or more included IAG,SLW,STP,SINA,NTES,
IBN,NVDA,AA,CSIQ,AAPL,X,LVS,CIEN,SNDK,FMCN,PHM......
By noon on Saturday...I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
S&P 500 & Dow closed near high of the day on higher volume..BUT not @ new highs YET.....
Gold gained $2.20 @ $1134.80
Oil closed @ $81.50 UP $1.58
Canadian $ had its highest close in a year 97.23 US for 1 CAD
Stocks closing UP 3% or more included IAG,SLW,STP,SINA,NTES,
IBN,NVDA,AA,CSIQ,AAPL,X,LVS,CIEN,SNDK,FMCN,PHM......
By noon on Saturday...I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Indices making higher HIGHS.....NICE !!!!
Indices are @ the highest level since last correction......
S&P 500 is only 18 points away from 52 wk high.....
Gold UP $6.60
Oil UP $1.35
Canadian $ @ 52 wk HIGH @ 97.26
Portfolio is APWR,IAG,PALM,SLW.....
Majority of stocks are UP....
@ 12.14 following are RED :
APWR,PALM,SOLF,MRVL,EGLE,RIMM,BIDU,
AMZN,AUY,QCOM,BRCD,ICE,IGT,ASIA....
BLOG does NOT give buy or sell.
Saleem
S&P 500 is only 18 points away from 52 wk high.....
Gold UP $6.60
Oil UP $1.35
Canadian $ @ 52 wk HIGH @ 97.26
Portfolio is APWR,IAG,PALM,SLW.....
Majority of stocks are UP....
@ 12.14 following are RED :
APWR,PALM,SOLF,MRVL,EGLE,RIMM,BIDU,
AMZN,AUY,QCOM,BRCD,ICE,IGT,ASIA....
BLOG does NOT give buy or sell.
Saleem
Thursday, March 4, 2010
S&P closed 1122.97... above so-called resistance...NICE !!!
All Indices closed green ahead of jobs report.....TAPE is saying that "Jobs Data is a non-issue" due to weather impact......
So on Friday we MAY have a strong day......
All indices closed @ the HIGHEST point since last correction........time to celebrate?
I like to REINFORCE that it IS a trading market & we MAY get NEAR top of this trading range POSSIBLY by Monday...so be NIMBLE IF you are a trader....DO NOT chase the last $.....EUPHORIA will be set in by Monday...so review your trading goals......
Here is the RSI for major Indices...so you can see my CONCERN going into Monday.....
Dow 57.75
S&P 500 60.35
Nasdaq 64.66
70 RSI is a "sell Zone' based on last 4 month pattern.......
AH MRVL ER was a beat & guide UP...BUT traders were NOT happy with the result...they wanted more.....MRVL down <6.61%> on AH volume of 3.98 million shares in ...
As I have repeated many times...... that Q2 will be weak for Techs based on history....could be a weak Q2 for market also.....
AH SLW ER was in-line stock UP 1.19% on AH volume of 16.4K..cc is @ 11 AM Friday......
AH Futures are UP
AH all Asian markets are UP nicely.....
BLOG does NOT give buy or sell.
Saleem
So on Friday we MAY have a strong day......
All indices closed @ the HIGHEST point since last correction........time to celebrate?
I like to REINFORCE that it IS a trading market & we MAY get NEAR top of this trading range POSSIBLY by Monday...so be NIMBLE IF you are a trader....DO NOT chase the last $.....EUPHORIA will be set in by Monday...so review your trading goals......
Here is the RSI for major Indices...so you can see my CONCERN going into Monday.....
Dow 57.75
S&P 500 60.35
Nasdaq 64.66
70 RSI is a "sell Zone' based on last 4 month pattern.......
AH MRVL ER was a beat & guide UP...BUT traders were NOT happy with the result...they wanted more.....MRVL down <6.61%> on AH volume of 3.98 million shares in ...
As I have repeated many times...... that Q2 will be weak for Techs based on history....could be a weak Q2 for market also.....
AH SLW ER was in-line stock UP 1.19% on AH volume of 16.4K..cc is @ 11 AM Friday......
AH Futures are UP
AH all Asian markets are UP nicely.....
BLOG does NOT give buy or sell.
Saleem
Indices barely green on mixed data......
Resale house sales were lower than expected while Jobless claims were better than expected......reason for each are contradictory...bad weather good for jobless & bad for resale???
BUT...indices are trying to stay in green after dipping into red....
Gold Down $11.70
Oil Down 67 cents
Canadian $ in unchanged area @ 96.97
In my portfolio :
Added 15% more PALM @ $6.18..trying to bring my average cost down still @ $10.22...another reason...www.stockconsultant.com predicting "breakout" @ $6.41 with a target price of $7.60
Portfolio is APWR,IAG,PALM,SLW(reports AH)....
Many stocks are Down......
@ 12.22 following are green :
PWRD,NTES,GS,AAPL,STP,SINA,GOOG,
AMZN,SOLF,ICE,LULU,NDAQ,NYX,
SPWRA,FSLR,VAR,QCOM....
BLOG does NOT give buy or sell.
Saleem
BUT...indices are trying to stay in green after dipping into red....
Gold Down $11.70
Oil Down 67 cents
Canadian $ in unchanged area @ 96.97
In my portfolio :
Added 15% more PALM @ $6.18..trying to bring my average cost down still @ $10.22...another reason...www.stockconsultant.com predicting "breakout" @ $6.41 with a target price of $7.60
Portfolio is APWR,IAG,PALM,SLW(reports AH)....
Many stocks are Down......
@ 12.22 following are green :
PWRD,NTES,GS,AAPL,STP,SINA,GOOG,
AMZN,SOLF,ICE,LULU,NDAQ,NYX,
SPWRA,FSLR,VAR,QCOM....
BLOG does NOT give buy or sell.
Saleem
Wednesday, March 3, 2010
S&P 500 closed green.....NICE !!!!
Indices were subjected to late selling on low volume.....
All Indices closed near flatline.....
Economic news will take centre stage from jobless claims to Jobs report....they are expected to be weak due to extreme weather in East Coast.....
Strong stocks included IAG,PALM,SOL,PWRD,IBN,
GG,SU,GNK,GAME,ASIA,SOLF,TSL.....
AH SINA ER was a miss Down 4.37%
AH Futures are mixed
AH Hang Seng UP
AH Nikkei ,Shanghai Down
AH Gold & Silver Down
BLOG does NOT give buy or sell.
Saleem
All Indices closed near flatline.....
Economic news will take centre stage from jobless claims to Jobs report....they are expected to be weak due to extreme weather in East Coast.....
Strong stocks included IAG,PALM,SOL,PWRD,IBN,
GG,SU,GNK,GAME,ASIA,SOLF,TSL.....
AH SINA ER was a miss Down 4.37%
AH Futures are mixed
AH Hang Seng UP
AH Nikkei ,Shanghai Down
AH Gold & Silver Down
BLOG does NOT give buy or sell.
Saleem
All Indices green 4 days in a row...NICE !!!!
For fourth day we are Green.......
S&P 500 is doing higher HIGHS like other Indices.....
VIX is trading @ 18.52 Down 2.83%
OIL GOLD,SILVER...all hitting higher highs....
Canadian $ UP 73 tick to near high 97.21....we have NOT closed @ this level in a year.....
In my portfolio :
Added 25% more PALM @ $6.29.....reason is...www.stockconsultant.com is predicting "breakout" @ $6.44 for a target of $7.64...RSI still @ 24.10 & ascending......
Portfolio is APWR,IAG,PALM,SLW.......
Most stocks are UP.....
@ 12.11 following are RED :
APWR,SOHU,SINA,NTES,CCJ,CMED,
BIDU,GS,NDN,MRVL (reports Thursday),
EXPE,FMCN,SNDA,TKC,CTRN,VAR....
BLOG does NOT give buy or sell.
Saleem
S&P 500 is doing higher HIGHS like other Indices.....
VIX is trading @ 18.52 Down 2.83%
OIL GOLD,SILVER...all hitting higher highs....
Canadian $ UP 73 tick to near high 97.21....we have NOT closed @ this level in a year.....
In my portfolio :
Added 25% more PALM @ $6.29.....reason is...www.stockconsultant.com is predicting "breakout" @ $6.44 for a target of $7.64...RSI still @ 24.10 & ascending......
Portfolio is APWR,IAG,PALM,SLW.......
Most stocks are UP.....
@ 12.11 following are RED :
APWR,SOHU,SINA,NTES,CCJ,CMED,
BIDU,GS,NDN,MRVL (reports Thursday),
EXPE,FMCN,SNDA,TKC,CTRN,VAR....
BLOG does NOT give buy or sell.
Saleem
Tuesday, March 2, 2010
Another GREEN close for Indices...NICE !!!!!
All Indices braved late selling but.... managed to close in green...
S&P 500 went to 1123.46 as high of the day.....closed @ 1118.31...well above 50 DMA of 1108.99
Gold was strong closing @ $1137.40
Canadian $ was strong closing @ 96.60
Strong stocks included PALM,IAG,SINA,IPI,CMED,
GG,SU,CSIQ,GNK,POT,SOLF,QCOM....
AH Futures are Green
AH Nikkei,Shanghai,Singapore Green
BLOG does NOT give buy or sell.
Saleem
S&P 500 went to 1123.46 as high of the day.....closed @ 1118.31...well above 50 DMA of 1108.99
Gold was strong closing @ $1137.40
Canadian $ was strong closing @ 96.60
Strong stocks included PALM,IAG,SINA,IPI,CMED,
GG,SU,CSIQ,GNK,POT,SOLF,QCOM....
AH Futures are Green
AH Nikkei,Shanghai,Singapore Green
BLOG does NOT give buy or sell.
Saleem
S&P 500 above much dreaded 1120 ????
S&P 500 is giving all technicians & bears "big headache & loss" by trading @ 1122......so what happened to Adami bearish game....or 1120???
All Indices are green......
VIX @ 18.83 Down 2.23%..getting close to 52 wk low....
Gold UP $16 to 1133.80
Oil UP $1.67 to $80.02
Canadian $ UP 85 tick to 96.78 US for 1 CAD..near recent HIGHS.....
In my portfolio :
Added 25% more APWR @ $13.85...I added because...www.stockconsultant.com is predicting "breakout" @ $13.99 with a target of $16.48.....
Portfolio is APWR,IAG,PALM,SLW.....
Most stocks are UP
@ 12.09 following are RED :
NTES,SOHU,BIDU,MA,V,NDN,RVBD,GAME,ASIA,
SNDA,BRCD,IGT,NYX....
BLOG does NOT give buy or sell.
Saleem
All Indices are green......
VIX @ 18.83 Down 2.23%..getting close to 52 wk low....
Gold UP $16 to 1133.80
Oil UP $1.67 to $80.02
Canadian $ UP 85 tick to 96.78 US for 1 CAD..near recent HIGHS.....
In my portfolio :
Added 25% more APWR @ $13.85...I added because...www.stockconsultant.com is predicting "breakout" @ $13.99 with a target of $16.48.....
Portfolio is APWR,IAG,PALM,SLW.....
Most stocks are UP
@ 12.09 following are RED :
NTES,SOHU,BIDU,MA,V,NDN,RVBD,GAME,ASIA,
SNDA,BRCD,IGT,NYX....
BLOG does NOT give buy or sell.
Saleem
Monday, March 1, 2010
Indices closed near HIGHS...NICE !!!!
Major Indices are resting above 50 DMA @ close.
Nasdaq had high volume....
S&P 500 & Dow had below average volume.
RSI in Nasdaq is @ 61.55.....
Major movers today included SNDK,MU,MA,AAPL,CREE,
IPI,ISRG,RVBD,NVDA,ASIA,M,LVS,EXPE,AMZN......
AH Futures are lower
AH Hang Seng Down .82%
VIX closed @ 19.26 down 1.23%
BLOG does NOT give buy or sell.
Saleem
Nasdaq had high volume....
S&P 500 & Dow had below average volume.
RSI in Nasdaq is @ 61.55.....
Major movers today included SNDK,MU,MA,AAPL,CREE,
IPI,ISRG,RVBD,NVDA,ASIA,M,LVS,EXPE,AMZN......
AH Futures are lower
AH Hang Seng Down .82%
VIX closed @ 19.26 down 1.23%
BLOG does NOT give buy or sell.
Saleem
Higher HIGHS & above 50 DMA in S&P & Nasdaq...NICE !!!!
All Indices are above 50 DMA BUT....S&P 500 & Nasdaq have made a higher highs since last pullback...a very strong technical indicator......
Looks like.... we are all set to challenge 1150 in S&P 500......
Most stocks are UP......
Gold Down 10 cents to $1118.20
Oil UP 18 cents to $79.84
Canadian $ UP 1.05 cent to 95.95 on very strong Q4 GDP report of +5% Growth..above consensus
Portfolio is APWR,IAG,PALM,SLW......
@ 12.13 following are RED :
PALM(trying to stabilize on 10th day of selling..off lows),
PWRD(earning miss),SNDA( earning miss),GAME (earning miss),
NTES,GE,SINA,ICE,FSLR,SOHU.....
BLOG does NOT give buy or sell.
Saleem
Looks like.... we are all set to challenge 1150 in S&P 500......
Most stocks are UP......
Gold Down 10 cents to $1118.20
Oil UP 18 cents to $79.84
Canadian $ UP 1.05 cent to 95.95 on very strong Q4 GDP report of +5% Growth..above consensus
Portfolio is APWR,IAG,PALM,SLW......
@ 12.13 following are RED :
PALM(trying to stabilize on 10th day of selling..off lows),
PWRD(earning miss),SNDA( earning miss),GAME (earning miss),
NTES,GE,SINA,ICE,FSLR,SOHU.....
BLOG does NOT give buy or sell.
Saleem
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