Indices are getting crushed again.....thanks to European issues.....
Dow is trying for a comeback & is the healthier of all indices.....Dow went below 50 DMA again but is trying to work its way to 50 DMA......IF Dow moves above 50 DMA @ close ...then we have completed this correction.....YES this was a correction..nothing more nothing less...ONLY reasons keeps CHANGING.......
RSI currently are as follows :
Nasdaq 38.89..low in Feb 33 area
S&P 500 39.41..low in Feb 32 area
Dow 41.28....low in Feb 32 area
As we all KNOW that market CAN turn around very quickly.....currently it IS a great buying opportunity.....Market is low enough to start buying.....Today is definitely not the day to sell....
It is almost IMPOSSIBLE to know/predict exact low either in markets or stocks.....
Gold UP $11.00
Oil Down $1.30
Canadian $ Down 1.39 cent to 95.69 US for 1 CAD
Portfolio is CRUS,CIEN,RFMD,TER,TSL.......
Solar stocks are taking it on the chin as Euro is @ another low which affects Solar earnings..but it is more than discounted today?????
Most stocks are down
BLOG does NOT give buy or sell.
Saleem
5 comments:
Saleen
I hate to see anyone lose money, especially on a crazy day as today.
For over a month, I have been taking a beating on QID and two shorts. Finally the week has me back in the black.
Do you think I should take a small profit, or stay put for the time being?
Ken
Hi Ken,
Markets are out of control these days.....BUT IF you have profit then take it....VIX are @ sky high @ $32.80...not sure if it can go much higher....it is always about risk/reward ratio.....
Good luck in your decision.
Saleem
Saleen
Thank You again for your advice.
I'm afraid I don't understand the VIX. I know it is a measure of volatility, but it appears to me as if it has two edges. Volative for bullish sentiment, or volative for bearish sentiment.
Can you help me understand this concept.
Thank You in advance.
Ken
Hi Ken,
VIX is a fear index..it is high when fear is high & low when traders are complacent....
Today VIX jumped 31.67% based on fear in the market thus volatility went sky high (VIX)....
When VIX is high option writer want more money for their option premium reflecting fear/vix...
VIX is just an index/ reference point for gauging volatility in markets....
I watch it all the time to make some sense out of it.....
IF Jobs report is perceived good on Friday then VIX will drop....
Hope it helps.....
Saleem
Saleen
Now I got it!!
Oddly enough, I entered my shorts when the VIX was high, and the market subsequently rose until this week. But I guess this proves VIX is just one of many items to consider.
Regards
Ken
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