Wednesday, June 30, 2010

Low Volume technical breakdown......

Technically market is not looking good......

Indices closed below support level & Nasdaq is the weakest of all....

Internals were weak as listed below :

Down volume led by 2.71 to 1 in NYSE & 4.91 to 1 in Nasdaq

Declining stocks led by 1.72 to 1 in NYSE & 1.79 to 1 in Nasdaq

New 52 wk lows were 95 in NYSE & 141 in Nasdaq

Japanese business survey was stronger than expectations of +1 vs expectations of -4...

Chinese PMI just released was lower than expectations...came in @ 52.1 vs expectation of 53.1 due to govt move to cool down property market through lending curbs....exports are also slowing.

AH Futures are Down

AH Nikkei Down

AH Shanghai UP

AH Oil & Gold Down

BLOG does NOT give buy or sell.

Saleem

TAPE looking good in 3 hr of trading...NICE !!!!

Indices are showing green after 3 hours of trading......

S&P 500 made a higher low by going to 1038.19 vs 1035.18 yesterday....

RSI @ 35.54 is in strong buy zone .....

Gold UP $2.80

Oil Down 4 cents

Canadian $ Down 46 tick to 94.30 on below consensus flat GDP growth on poor retail sales.

Portfolio is BIDU,CREE,SNDK,POT.....

Most stocks are UP.....

@ 12.37 following are RED :

VMW,GS,GOOG,RVBD,MRVL,WDC,TCK,
RCI,ECA,TKC,FUQI,GAME,LDK,SOLF,MON...

BLOG does NOT give buy or sell.

Saleem

Tuesday, June 29, 2010

Today felt like "capitulation" in market.....

Indices broke below recent lows with Nasdaq leading the downtrend......

Internals of the market were "extremely negative" which is a sign of capitulation...

Volume was also higher in this selling......

Internals are listed below :

Down volume led by 60.5 to 1 in NYSE & 29.75 to 1 in Nasdaq (do NOT recall seeing stat like this)

Declining stocks led by 10.95 to 1 in NYSE & 9 to 1 in Nasdaq

New 52 wk lows were 119 in NYSE & 167 in Nasdaq

Sentiment is also "extremely negative"

In S&P 500...499 stocks were down today ( never seen this before)

I will NOT be surprised IF we close green on Wednesday.

In my portfolio :

Sold CNQ

Added 60% more SNDK @ $42.37

Portfolio is BIDU,CREE,SNDK,POT......

MON reports before open

AH Futures are mixed.

AH Asian markets are taking their turn in being down sharply.

Oil Down

Gold UP

BLOG does NOT give buy or sell.

Saleem

Chinese LEI revision to .3% growth taking a huge toll...

Chinese LEI revision to .3% from previous 1.7% was a shocker......thus worldwide slump & test of support in many markets......

S&P 500 went to 1042.52 still higher than recent lows in 1040 area.....gives some hope of support.....

RSI in S&P 500 is @ 34.57...slightly above previous lows around 30....

Gold Down $1.50

Oil Down $2.70

Canadian $ Down 1.50 cents to 95.04

In my portfolio :

Sold LVS

Sold TCK

Portfolio is BIDU,CNQ,CREE,SNDK,POT......

Most stocks are Down......

BLOG does NOT give buy or sell.

Saleem

Monday, June 28, 2010

Another negative close on lowest volume.....

Lowest volume is the story today......

When volume is lowest in a long long time..it is hard to evaluate TAPE.....

S&P 500 closed @ 1074.57..yesterday's low was 1067.89.....which could be support or else we go towards 1040 area.....

RSI in S&P 500 is @ 41.69...which is still healthy...

Internals of the market was more negative than closing numbers.....

There is end of the month buying which MAY happen Tuesday & Wednesday.......

Stocks which were UP 2% or more included CRUS,RVBD,ASIA,GNK,OVTI...

AH MU ER was taken as negative although it was a Beat in EPS..Down 5.99% on AH volume of 7.32 million shares....

POT filed shelf offering of upto $2 billion in future Debt Securities with SEC.....

AH Futures Mixed

AH Nikkei,Shanghai & Singapore UP

AH Oil & Gold UP

BLOG does NOT give buy or sell.

Saleem

Indices are in green after hitting trading low ......

Indices are showing green after hitting trading low in S&P 500 @ 1071.45.......

Gold Down $17.80

Oil Down 83 cents

Canadian $ UP 15 tick to 96.70

In my portfolio :

Bought POT @ $93.63

Portfolio is BIDU,CNQ,CREE,LVS,POT,SNDK,TCK.....

Back to 105% of my normal exposure.....

@ 12.33 following are green :

SNDK,LRCX,AAPL,RIMM,GOOG,RVBD,CRUS,
TSL,JASO,ASIA,SNDA,CCJ,NYX,GNK,FSLR,LDK.

BLOG does NOT give buy or sell.

Saleem

Sunday, June 27, 2010

"TRIPLE BOTTOM" in S&P 500 ?

Looking @ recent chart of S&P 500 gives a very interesting picture...as they say "a picture is better than thousand words".....

SO...what is this interesting picture ?

First...S&P 500 @ start of Feb was @ 1044.50...zoomed UP to 1219.80 by April 19th..a GAIN of 175.80 or 16.78% in a short 11 week......this when all Gurus were saying we go to 850 in S&P 500.....

Second....from 1219.80 S&P 500 went down to 1040.78 by 3rd week of May ..a loss of 179.02 or down 14.68% from high.......

Third.....S&P made series of higher lows since.....1040.78 first,1042.17 second then on Friday 1067.89...a typical "triple bottom" scenario ?

BUT our CNBC gurus always insists that we are going down to 900 area...everytime ?.......history has told us that Adami,Rosenberg,Prechter & Carter Worth...have NOT been close to being accurate in last 10 years......factually they all miss the mark by overwhelming %....BUT many sell everything when these Guru's come up with their wild predictions ?

SO..it IS important to develop your OWN "feel of market direction".....you may be MORE accurate than CNBC Guru's.....& it MAY be better for your finacial health

YOU MAY ask..... why is market testing 1040 area so many times ?

Answer could be that US markets are controlled by "supercomputers" which are pre-programmed to buy or sell to certain data points in S&P 500.......back & forth ?

SO..IF we are to believe that.... then we can be very aggressive near bottom of the range (currently) & start booking profit near top of the range (1130 to 1219 in S&P 500)
...

Many stocks which are technically strong do NOT tank when market goes to test lows....like AAPL,BIDU,SNDK,LRCX,CRUS.....to name a few..... BUT on any UPTURN make higher highs......

SO...it is important to stick to strong stocks IF you do NOT want to trade like yoyo.....

It COULD be.... that market is ALSO trying to discount recent "weakness" in US data....once it finishes doing that ...then we MAY find a "new higher trading range"......& supercomputers & their algos will find a higher trading point.....

It is NEVER easy to DECIPHER market trend BUT it is IMPORTANT to have your OWN feel of economic trendlines.....

As we have observed.... that Guru's & economists are always missing numbers,estimates,targets...then it is PRUDENT not to base your investment or trading decisions on their negativism or euphoria .......

Here is my $/sector allocation as of Friday :

SNDK 23.49% Tech Flash memory
BIDU 22.57% Internet search
CNQ 16.44% Oil & gas producer
CREE 16.44% Tech LED
LVS 13.30% Casino operator
TCK 10.84% Copper,coal mining

As you can see that i am well diversified which is the best way to be in an uncertain market environment.

Good luck with your OWN due diligence & comfort level.

Stay diversified.

BLOG does NOT give buy or sell.

Saleem

Saturday, June 26, 2010

Buy rated stocks.....

Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.

BIDU,CNQ,CREE,LVS,SNDK,TCK,
AAPL,GOOG,LRCX,ISRG,RVBD,CTSH,
VMW,GS,AMZN,SINA,TSL,CRUS,SINA,
ASIA,CCJ,MA,NDN,M.

Next post by noon on Sunday.

BLOG does NOT give buy or sell.

Saleem

Friday, June 25, 2010

Close does NOT tell the whole story....

Indices closed almost flat BUT internals were extremely positive.....as listed below :

UP volume led by 2.26 to 1 in NYSE & 1.68 to 1 in Nasdaq

Advancing stocks led by 2.73 to 1 in NYSE & 2.15 to 1 in Nasdaq

Next post by noon on Saturday when I will list buy rated stocks.

BLOG does NOT give buy or sell.

Saleem

Support @ 1067.89 in S&P 500 ????

With all the negativity being talked about S&P 500 is holding up "reasonably well"...

Guy Adami predicted 900 in S&P 500 yesterday..... but he is claiming NOT an alarmist by predicting another 16% plunge...Carter Worth is @ 980

S&P 500 low so far today is 1067.89 which is 5.6% correction from 1131.23.........

Market is trying to figure out where the US economy is heading....

It IS a stock pickers market...keep your focus on stocks NOT where market is heading......strong stocks turns UP faster when market turns.......

Gold UP $9.00

Oil UP $2.18

Canadian $ UP 50 tick to 96.40

Portfolio is BIDU,CNQ,CREE,LVS,SNDK,TCK......

@ 12.14 following are green :

BIDU,CNQ,CREE,TCK,SNDK,LRCX,AMZN,RVBD,GS,EGO,SLW,
ASIA,WDC,ISRG,IAG,GG,ABX,AEM,SINA,ICE,CCJ,JRCC,
WYNN,FSLR,VAR.

BLOG does NOT give buy or sell.

Saleem

Thursday, June 24, 2010

Selling intensified today......

Selling was more pronounced today..volume picked up & internals were BAD......

All indices closed near low of the day.....

All Indices are well below 200 DMA...

RSI in S&P 500 is 41.20.....pretty close to 30++ area where technical buyers may step in.....

AH RIMM ER was a miss on Sales ..Stock recovered nicely after CEO announced two new "significant product in coming months"...an iphone type & an ipad type.....Down 4.16%

AH ORCL ER was a beat stock UP 4.01%

AH Futures UP

AH Asian market down

AH Oil & Gold Down

BLOG does NOT give buy or sell.

Saleem

Indices Down 1%+- on Fed view of US economy.....

Indices are Down about 1% on Fed cautious statement about US growth..European slowdown is the reason for gradual pickup in US economy....Fed statement was hopeful for a sustained growth...which is what BEARS do not want you to focus on......

S&P 500 low so far is 1074.63...there is a very good chance that we should hold this level @ close..

S&P gained 89.06 points from low & have given up 56.60 points @ low today......a correction of 5%...which is normal considering many economic data is showing slowdown in growth......

Gold UP $14.00

Oil Down 14 cents

Canadian $ Down 39 tick to 95.94

Portfolio is BIDU,CNQ,CREE,LVS,SNDK,TCK.....

Most stocks are down.....

BLOG does NOT give buy or sell.

Saleem

Wednesday, June 23, 2010

Constructive close despite negative Data .......

Today's close must have "surprised" jumping shorts like Adami,Carter Worth & Brian Kelly who were salivating that S&P 500 will tank through support...surprise surprise we closed slightly negative while Dow showed green.......S&P 500 closed @ 1092.04..far far away from Carter Worth's dream number of 980.....

Internals of the market were slightly negative.....

AH Futures Mixed

AH Asian market Mixed

AH Oil Down

AH Gold UP

BLOG does NOT give buy or sell.

Saleem

New Home Sales data affecting market again.....

US new home Sales data was expected to be bad after resale data yesterday...BUT the severity of decline (33%) took the market by surprise......

S&P 500 went to 1085.31.......

Indices will be tested again @ 2.15 PM when Fed policy statement is released...no interest rate increase is expected BUT "language" will be deciphered 1000 ways.....

Gold Down $6.50

Oil Down $2.07

Canadian $ Down 1.45 cents to 95.82....retail sales slumped in Canada...

Portfolio is BIDU,CNQ,CREE,LVS,SNDK,TCK.....

Most stocks are Down....

@ 12.23 following are green :

SNDK,LVS,VMW,RIMM,IBN,ASIA,WDC,NDN,
GS,GNK,GG......

BLOG does NOT give buy or sell.

Saleem

Tuesday, June 22, 2010

S&P 500 & Dow closed below 200 DMA....

Housing numbers further eroded confidence in economic health of US......

All indices sold off & closed near lows of the day.....NOT a healthy technical picture....

Only Nasdaq closed above 200 DMA......which is a good thing......

Nasdaq was UP 7 days in a row & now is Down 2 day's in a row.....

RSI in S&P 500 is 46.94...still healthy...

Lot of pessimism has crept up in last two day's..which is healthy for the market...

When market is jittery make sure your stocks are relatively better performers....weed out weak ones ASAP....

In my portfolio :

Sold SOLF

Portfolio is BIDU,CNQ,CREE,LVS,SNDK,TCK.....

Exposure in market came down to 91% from 105%....

VIX closed UP 8.72% to 27.05

AH Futures mixed

AH Asian markets Down

AH Oil & Gold Down

BLOG does NOT give buy or sell.

Saleem

Mixed market so far....

Nasdaq is the only index which is showing green....

S&P 500 & Dow are slightly negative....

Resale housing Sales were well below consensus...BUT market is taking this negative news in stride.....

Gold Down $1

Oil UP 3 cents

Canadian $ UP 44 tick to 97.97

VIX Down .8% to 24.68

Portfolio is BIDU,CNQ,CREE,LVS,SNDK,SOLF,TCK...

@ 12.48 following are green :

BIDU,CREE,SNDK,LVS,POT,CRUS,AMZN,
AAPL,RIMM,GOOG,EGO,SLW,ISRG,MA,
AGU,SNDA,SINA,ICE,WYNN,VAR....

BLOG does NOT give buy or sell.

Saleem

Monday, June 21, 2010

.08% to .90% decline in Indices.....

Indices gave up all their gains & lost a bit more by close......Nasdaq could not close UP "lucky 8 in a row"..a slight overbought condition.... was ripe for a minor pullback......

Why the slump in Indices......???

It was claimed by media that Chinese statement was vague & had no clarity....I guess media has never read US Fed statement ever...they are always vague ..but is always indicative of future action or inaction.....

Guess what???

Around 930 PM Chinese have announced a new "lower Yuan trading range of Dollar parity rate of 6.7980 Yuan vs Monday rate of 6.8275"....how is that for clarity & fast action by Chinese.....

Strong stocks which were UP 2% or more @ close included BIDU,TCK,
IBN,MA,V,X,TSL....

AH Futures are mixed

AH Asian market slightly lower

AH Oil ,Gold slightly lower

BLOG does NOT give buy or sell.

Saleem

China currency news giving boost to world markets...NICE !!!!

China announced yesterday that they will "gradually increase the value of their Yuan"..they are stating it will be minimum upward adjustment......

Markets worldwide took this as positive move.....

US markets are giving a lackluster endorsement as hedge funds controls the movement of market.....maybe they had net short position so need to cover before taking this market UP like the rest of the world ????

Indices are UP .18% to.56%...

In the euphoria of open Dow went above 50 DMA..but has pulled below since.....

Gold Down $7.10

Oil UP 67 cents

Canadian $ unchanged @ 97.83

In my portfolio :

Added 80% CREE @ $ 70.66

Portfolio is BIDU,CNQ,CREE,LVS,SNDK,SOLF,TCK....

Most stocks are green.....

@ 1.08 following are RED :

EGO,SLW,POT,MRVL,RIMM,GOOG,WDC,
CCJ,M,IPI,AUY,IAG,GG,ABX,AEM,PIR,KGC,CTRN...

BLOG does NOT give buy or sell.

Saleem

Sunday, June 20, 2010

S&P 500 Ready to take out 50 DMA.......

May has turned out to be the-best time to accumulate stocks...in 3rd week of May S&P 500 was @ 1040.78...four weeks later S&P 500 closed @ 1117.51...UP 76.73 points or +7.37% in a month...

IF...you followed CNBC Guru's..you were told to sell near May lows & they told you they will let you know when to buy......In May Europe was dubbed as "basket case"......& Euro was going below par......

Last Friday Euro closed @ 1.2381......from a low of 1.1919 .....

Also CNBC Guru's told you to keep buying protection when VIX was @ 48.20 on May 21st.....four weeks later VIX closed @ 23.95......

SO..what is the moral of this story......do NOT look for investment/trading strategy from CNBC...they are all well paid to say something which may NOT be good for your "financial health"...editorial check is almost non-existent........remember Jimmy the Cramer saying "i do NOT like this market" few days back ??????

After all is said & done....Market is healthy......

S&P 500 SHOULD take out out 50 DMA of 1139.15..which is only 21.64 points away.......

Strong stocks are making new highs or about to...so stay away from BARGAINS......

Here is my $/sector allocation as of Friday :

SNDK 22.31% Tech/Flash memory
BIDU 19.63% Tech/Internet search
CNQ. 15.47% Canadian Oil & Gas producer
SOLF 13.61 Solar fully integrated
LVS. 12.00 Casino operator
TCK. 9.92 Copper/Coal/Zinc mining
CREE 7.06% Tech/LED

Good luck with your OWN due diligence.Ensure your OWN comfort level & stay diversified.

BLOG does NOT give buy or sell.

Saleem

Saturday, June 19, 2010

Buy rated stocks.....

Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.

BIDU,CNQ,CREE,LVS,SNDK,SOLF,TCK,CRUS,
VMW,LRCX,MRVL,AMZN,RVBD,AAPL,POT,
GOOG,GS,MS,PAL,ASIA,IBN,AMCC,FNSR,
CYMI,LSCC,LDK....

Next post by noon on Sunday.

BLOG does NOT give buy or sell.

Saleem

Friday, June 18, 2010

Nasdaq "lucky seven" UP close in a row...NICE !!!!

SO...Nasdaq closed UP seven day's in a row.....those who do NOT like this market are missing "huge opportunity".....numbers do speak "louder than words"

Nasdaq RSI @ close is 53.84......

VIX closed Down 4.39% to 23.95......

Strong stocks which were UP 1% or more on Option Expiry day included :

BIDU,CNQ,SOLF,CRUS,MS,RVBD,EGO,SLW,ASIA,CCJ,ISRG,
AUY,GG,GNK,AMCC,C....

Next post by noon on Saturday.

BLOG does NOT give buy or sell.

Saleem

Option expiry keeping Indices mixed.....

Indices are mixed due to option expiry.....

Many stocks are being traded @ or below certain strike price.......

Gold UP $13 in new record high of $1260.50....

Oil UP 19 cents

Canadian $ UP 18 tick to 97.55

VIX Down 3.91% to 24.07

Portfolio is BIDU,CNQ,CREE,LVS,SNDK,SOLF,TCK

@ 12.52 following are green :

BIDU,CNQ,TCK,SOLF,CREE,CRUS,RVBD,ASIA,
AAPL,ISRG,GS,GG,SLW,GNK,CTRN,ICE,CCJ,
JRCC,AEM,ABX,VAR.....

BLOG does NOT give buy or sell.

Saleem

Thursday, June 17, 2010

Nasdaq closed UP six day's in a row....NICE !!!!

All Indices closed UP despite challenging economic data...

Nasdaq has rallied six day's in a row despite skepticism & disbelief by many Gurus.....

Nasdaq is only 49 points away from 50 DMA......which I will not rule out in this run.....

RSI in Nasdaq is 53.52 far far away from 80+we saw back in April......

Strong stocks which were UP 2% or more included CRUS,SLW,EGO,PIR,IAG,GG,
AMCC,SOL,FSLR,OVTI......

In my portfolio :

Sold PIR

Bought CREE @ $68.60

Portfolio is BIDU,CNQ,CREE,LVS,SNDK,SOLF,TCK....

AH Futures Down

AH Nikkei & Singapore UP

AH Gold & Oil Down

Friday is Option Expiry....could be an interesting day.

BLOG does NOT give buy or sell.

Saleem

Minor pullback on negative Data....

Jobless claims & LEI were slightly negative for the market...BUT indices are holding pretty good considering they have moved sharply UP lately......

Gold UP $16.90

Oil Down 94 cents

Canadian $ Down 22 tick to 97.20

In my portfolio :

Sold CRUS

Bought BIDU @ $73.00

Portfolio is BIDU,CNQ,LVS,PIR,SNDK,SOLF,TCK.....

PIR ER was a major beat... Sales Higher than consensus ,EPS beat by 9 cents..all business metrics are improving..management upbeat about future......

@ 12.42 following are green :

PIR,CRUS,VMW,AAPL,RIMM,EGO,SLW,
ASIA,ISRG,MA,V,IAG,GG,AEM,ABX,SPWRA,
FSLR....

BLOG does NOT give buy or sell.

Saleem

Wednesday, June 16, 2010

Nasdaq UP five day's in a row.....NICE !!!!!

Nasdaq is the first index to turn green today...S&P 500 & Dow erased most of the early loss.....

This market is giving opportunity to buy on weakness......

Gold UP 20 cents

Oil Down 20 cents

Canadian $ UP 25 tick to 97.76

In my portfolio :

Added 35% SOLF @ $8.13

Portfolio is CNQ,CRUS ( new 52 wk high),LVS ( new 52 wk high),
PIR,SNDK (new 52 wk high),SOLF,TCK......

Portfolio expanded to 103% of normal allocation......

@ 11.50 following are green :

SNDK,CRUS,LVS,CNQ,TCK,BIDU,AAPL,CREE,LRCX,
RVBD,GS,GOOG,ISRG,GG,IAG,EGO,MRVL,POT......

PS...There will be no post after close today.

BLOG does NOT give buy or sell.

Saleem

Tuesday, June 15, 2010

All Indices closed above 200 DMA....NICE !!!!

Now that we have closed above 200 DMA in all Indices CNBC TV showman Jimmy the Cramer "does not like this uptrend "...MAYBE he went short yesterday..so not much to like it today....

It is amazing that CNBC has no editorial check on all the "nonsense which is spewed upon"

VIX closed Down 9.48% @ 25.87

In my portfolio :

Added 84% PIR @ $8.08 ..ER is this Thursday...

Portfolio is CNQ,CRUS,LVS,PIR,SNDK,SOLF,TCK....

I have gone above my normal MAX exposure of 100% to 102%....

Strong stocks which were UP 4% or more included TCK,SOLF,CRUS,CREE,
MRVL,RIMM,TSL,RVBD,LRCX,ASIA,V,PMCS,GNK,SOL,JASO,STP,STX...

AH BP news is negative from BAC...BP stock down AH by $1 in AH volume of 3.17 million..getting close to its 52 wk low of $29.....

AH futures Down

AH Asian markets UP

AH Gold Down

AH Oil UP

BLOG does NOT give buy or sell.

Saleem

Nasdaq Higher highs & UP 4 day's in a row...NICE !!!!

Indices are surprising 5 mts traders who all jumped out yesterday......

Nasdaq made higher highs today & is UP 4 day's in a row......

Dow came close to yesterday's high but have not made higher highs yet ....

S&P 500 is green also.....

Gold UP $4.80

Oil UP $1.38

Canadian $ UP 38 tick to 97.16

VIX Down 8.05% to 26.28..lowest level in a month.....

Portfolio is CNQ,CRUS,LVS,PIR,SNDK,SOLF,TCK....

Most stocks are UP

BLOG does NOT give buy or sell.

Saleem

Monday, June 14, 2010

Nasdaq UP three day's in a row....NICE !!!!

IF you are looking for an answer about today's tape from media ala CNBC, you will think we are going downhill because we did not finished above 200 DMA in all Indices......????

The reality IS that today's TAPE was very constructive....because we went to higher HIGHS & actually crossed 200 DMA in Dow & Nasdaq closed ABOVE 200 DMA again.....

Opinions & FACTS are contradictory when it comes to CNBC reporting......

Generally indices do not close 200 DMA in first attempt......

Internals of the market were more than OK as listed below :

UP volume led by 1.13 to 1 in NYSE & 1.23 to 1 in Nasdaq

Advancing stocks led by 1.62 to 1 in NYSE & 1.27 to 1 in Nasdaq

New 52 wk highs led in both NYSE & Nasdaq

Stocks which were up by 3% or more included SNDK,PIR,CREE,
ASIA,LSCC......

AH Futures are UP

AH Nikkei Down

AH Oil UP

AH Gold Down

BLOG does NOT give buy or sell.

Saleem

Indices UP .85% to 1.39%....NICE !!!!

All major indices are UP three days in a row.....Nasdaq is the strongest....

Reason given today for the rise in worldwide markets is that Euro zone is actually "growing better than consensus"...BUT Guru Brian Kelly & Gary Kaminsky are short Euro & stock markets.....I am sure their tune will change now......

Euro UP 1.71 to 1.2284......Guru's predicting euro to par ?????

Dow went above 200 DMA but has pulled back below...

S&P 500 came close to 200 DMA.....

Gold Down $9.60

Oil UP $1.79

Canadian $ UP 96 tick to 97.64

In my portfolio :

Added 60% SOLF @ $8.20

Portfolio is CNQ,CRUS,LVS (new 52 wk high),PIR,SNDK (new 52 wk high),SOLF,TCK.....

100% invested......

Most stocks are UP

@ 12.28 following stocks are RED :

GS,MS,EGO,SLW,GG,KGC,SINA,SNDA,TKC,
AEM,AUY,ABX,ISRG,SNE,IAG.....

BLOG does NOT give buy or sell.

Saleem

Sunday, June 13, 2010

Market looking FIRM in option expiry week....

Worldwide markets are trying to overcome "European challenges" & looking beyond abyss.....

Fear was injected "big time" by media overplaying Europe issues......

European debt is no different than many countries around the world faces every year....

Hedge funds have benefited by shorting the market in a relentless manner "wiping out" many retail traders especially those who rely in "option trading".......

Institutions are waiting for "dust to settle" before putting money to work.....

We had two months of straight selling..wiping out margin investors/traders/institutions as daily margin calls played havoc into all portfolio.......

By Wed of past week ..we finally had all the sellers out of the game.....some sitting in 100% cash or having "high cash position in their account"

Markets were so oversold that it attracted "strategic buyers" in the past week....these are the traders & institutions who could buy with conviction....

Conviction is very important in this stage of the market...headlines will continue to be negative & will be played up by CNBC......

CNBC is becoming a mouthpiece for shorts & negative commentary.....

CNBC thinks that everyone is a daytrader & pushes this agenda.....

Serious money is always made when news is terrible & sentiments are @ its worst.....

Currently, contrary indicators are giving the biggest "buy signal".....Put premium are @ its peak as everyone is hedged...sure sign of market bottom when Fear/protection is in vogue.....

Many stocks are showing "relative strength" by moving UP fast or are "near 52 wk HIGH"

@ this stage "buying strength" will be rewarding NOT "bargain hunting".....buy fewer stocks but buy stronger stocks based on TAPE......

I am @ my highest exposure since March of 09...95% invested.....

"Action speaks LOUDER than words"

Here is my $/sector allocation as of Friday's close :

SNDK 26.67% Tech/Flash & Nand memory
CNQ. 19.67% Oil & Gas producer
LVS. 15.15% Casino operator
CRUS 14.60% Tech/Chip maker
TCK. 12.68% Copper,Coal mining
SOLF 8.18% Solar fully integrated
PIR. 3.07% Retail

As you can see that, I am highly diversified ...which is the best way when markets are coming off bottom.....I see "relative strength" in my entire portfolio & is positioned to "optimize $ invested" means biggest bang for the buck is the focus......some sexy names "may NOT go UP in % terms"

Hopefully, you are positioned to take advantage of "rampant fear"which brings better prices in strong stocks......even in this option expiry week.....

BLOG does NOT give buy or sell.

Saleem

Saturday, June 12, 2010

Buy rated stocks....

Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.

SNDK,CNQ,LVS,CRUS,TCK,SOLF,PIR,
ALTR,LRCX,VIMC,NVLS,CTSH,V,YGE,
MOT,UXG,ATML,NYX,X,BIDU,CREE,
VMW,TSL.GOOG,GS.

Next post by noon Sunday.

BLOG does NOT give buy or sell.

Saleem

Friday, June 11, 2010

Nasdaq closed above 200 DMA.....NICE !!!!

Indices staged a rare two days back to back gain by closing @ High of the day.....

Nasdaq closed above 200 DMA....Dow & S&P 500 are next in line !!!!

This is extremely "significant" because we had below expectations data from China & US...BUT market "ignored" the shortfall..sign of a strong buying momentum.....

Internals of the markets were extremely impressive as listed below :

UP volume led by 2.08 to 1 in NYSE & 7.25 to 1 in Nasdaq

Advancing stocks led by 2.79 to 1 in NYSE & 2.76 to 1 in Nasdaq

New 52 wk highs were in the lead in both NYSE & Nasdaq

SO....what skeptics will focus on NOT the above stat.... BUT lowest volume of the week today.......

By noon Saturday, I will list buy rated stocks.

BLOG does NOT give buy or sell.

Saleem

Indices mixed after huge gain yesterday......

Indices are mixed after recording huge gains yesterday..economic data this morning were mixed in US with retail sales below expectations.....China CPI was hotter & industrial production was a touch softer....

Gold UP $5.60

Oil Down $1.63

Canadian $ Down 25 tick to 96.67

In my portfolio :

Bought SOLF @ $7.47

Portfolio is CNQ,CRUS,LVS,PIR,SNDK,SOLF,TCK.....

@ 12.33 following are green :

SOLF,LVS,CRUS,TCK,CREE,EGO,MRVL,GS,
RVBD,ASIA,X,IAG,SLW,TSL,SINA,CTRN,ICE,
LULU,JRCC,AEM,NYX....

BLOG does NOT give buy or sell.

Saleem

Thursday, June 10, 2010

Indices Jumped 2.76%+ by close..NICE !!!!

Indices were strong till close.....2.76%+ jump.....

Catalyst was extreme oversold conditions.....

Volume was slightly lower than yesterday....

Internals of the market was super-strong which is to be expected in extreme oversold bounce...

This market will remain jittery as NOT all is well especially in Europe...

So ..stay alert after today's huge UP move....

This market remains a "trading market"......

In my portfolio :

Sold SOLF

Doubled my position in SNDK @ $44.41

Portfolio is CNQ,CRUS,LVS,PIR,SNDK,TCK......

AH Futures Down

AH Asian markets UP

AH Gold Down

VIX closed Down 9.37% to 30.57

BLOG does NOT give buy or sell.

Saleem

1.52% to 1.85% gain in indices ...NICE !!!!

Indices are UP thanks to ongoing positive economic news from around the world...

Even Euro found its footing trading @ 1.2081...

Gold Down $6.00

Oil UP $1.04

Canadian $ UP 1.10 cents to 96.86

In my portfolio :

Bought PIR @ $7.28

Portfolio is CNQ,CRUS,LVS,PIR,SNDK,SOLF,TCK.....

94% Invested....

Most stocks are UP

VIX Down 5.9% to 31.74

BLOG does NOT give buy or sell.

Saleem

Wednesday, June 9, 2010

Indices pulled back @ close......

All indices gave up their gains & closed lower.....

S&P 500 high was 1077.74...low 1052.25....close 1055.69

RSI 38.00 in S&P 500

Internals were neutral in indices......

VIX closed @ 33.73 +.09%

Near lows markets are very sloppy & takes time to move higher..good place to build long term position....which I have done.....

LULU reports before open..expecting a beat & guide higher....

AH futures Down

AH Oil Down

AH Gold UP

AH Nikkei & Singapore UP

BLOG does NOT give buy or sell.

Saleem

Indices UP 1.13% to 1.53%....2nd day of gain....NICE !!!

Indices are showing second day of renewed strength....Nasdaq which was laggard yesterday is UP the-most today......

Fed chief had upbeat assessment of US economy and said no chance of double dip....mantra of Roubini,Rosenberg & shorts.....

Gold down $19.70

Oil UP $2.70

Canadian $ UP 73 tick to 96.19

In my portfolio :

Doubled my position in CNQ @ $35.18

Portfolio is CNQ,CRUS,LVS,SNDK,SOLF,TCK.....

90% invested.....

Majority of stocks are UP

VIX Down 9.61%

BLOG does NOT give buy or sell.

Saleem

Tuesday, June 8, 2010

Strong close after testing support...NICE !!!!

Indices were again put to test & went lower or near lows before turning UP & closing @ high of the day......

Dow & S&P 500 closed green but Nasdaq closed in red....

This market is difficult & weak....so do not expect too much in short term.....we MAY grind from hereon & slowly crawl back UP......This will remain stock pickers market as some leadership stocks are falling apart......so pay attention to TAPE & pick relatively stronger performers.....

Strong stocks which were UP 2% or more included CNQ,LVS,TCK,BCSI,
V,NDN,RIMM,X,SLW,C,BAC,FUQI....

AH Futures Down

AH Nikkei Down

AH Gold Down

AH Oil UP

BLOG does NOT give buy or sell.

Saleem

S&P 500 low today 1042.17 then turned UP...NICE !!!

S&P 500 much talked about low of 1040 did NOT happen....Algos had to settle for 1042.17...then it was cover the short position......

Euro also found footing ..currently @ 1.1963

Gold UP $6.70

Oil UP 56 cents

Canadian $ UP 55 tick to 95.03

VIX down 5.11%

In my portfolio :

Added 50% SOLF @ $7.00

Portfolio is CNQ,CRUS,LVS,SNDK,SOLF,TCK.....

I am 80% invested......

@ 12.48 following are green :

CNQ,LVS,TCK,SOLF,CREE,BIDU,EGO,BAC,
GG,KGC,SNDA,JRCC,WYNN,AEM,ASIA,AUY,
FWLT,X,SLW.....

BLOG does NOT give buy or sell.

Saleem

Monday, June 7, 2010

S&p 500 closed @ 1050.47....RSI 35.93 ????

S&P 500 had the lowest close of 2010.....BUT RSI is @ 35.93 NOT near lows of 30 which came three times in 2010.......?

VIX closed @ 36.57 UP 3.07%...AGAIN NOT near highs of 2010 which was 48.20 on May 21st ......?

Are the ABOVE stat telling us that selling is just about DONE ?

There is 1040 in S&P 500 which every technical trader is looking for...BUT IF we do NOT get there..THEN expect a "huge rally"......

Euro closed @ 1.1917 AH 1.1945.....IF Euro is stable to firm...then there is one more catalyst for a strong rally......

Near bottom....markets are very painful & FEAR takes over....BUT it is perfect time to RETHINK strategy.....

I am 75% invested...because IF we rally from here..it will be fast & furious......

Sentiment could not be more downbeat..almost like March of 09 ????

Extreme bearishness IS a very reliable "contrary indicator"........

AH Futures UP

AH Nikkei & Singapore UP

AH Oil,Gold down

BLOG does NOT give buy or sell.

Saleem

Mixed market so far....

Indices are trying to find support....S&P 500 went to 1058.78 where buying comes in.....

Nasdaq is the weakest so far ..down .59%

Selling is looking exhausted......

Euro @ 1.1952...looks like 1.18 has some support....

Gold UP $21

Oil UP 24 cents

Canadian $ UP 95 tick to 95.03

In my portfolio :

Added 50% SOLF @ $7.41

Portfolio is CNQ,CRUS,LVS,SNDK,SOLF,TCK....

@ 12.38 following are green :

CNQ,EGO,AMZN,MA,V,M,EXPE,POT,AUY,
GG,SLW,IAG,RVBD,RCI,ECA,CTRN,ICE,
JRCC,AEM,NYX,ABX....

BLOG does NOT give buy or sell.

Saleem

Sunday, June 6, 2010

S&P 500 RSI @ 38.24...Near lows !!!!

S&P 500 RSI closed @ 38.24.....NOT @ lows of 30 area reached in early May..since then RSI has touched total of 3 times in 30 area ..all in May......

The question is WHY RSI is ABOVE those lows?

Also interestingly, VIX is also NOT as high as its recent peak?

SO..all those gloom & doom in CNBC & other media NOT causing "extreme panic"???

BECAUSE...MAYBE.....market HAS discounted all the "potential & known" issues....

Market is a discounting mechanism.......

Lot of pundits are "salivating over the possibility of S&P 500 going below 1040"...BUT it MAY turn around in a hurry...MAYBE same day & close ABOVE 1040 level.......

SO...everybody WAITS for a RETEST of 1040.....which MAY or MAY NOT come......

There is an obsession to PREDICT LOWS in market & wanting to buy @ "absolute low in stock prices"......

Ironically...market lows does NOT necessarily brings the lowest prices in many stocks...most stocks "turn UP" before lows.......

It is impossible to buy @ the lowest price.....unless one is extremely lucky.....

Most traders KNOW that markets are deeply OVERSOLD now......it may not be a bad idea to increase the exposure in this market..I have increased my market exposure to 70% as of Friday...my highest $ allocation in many months.....

CMF in markets are approaching green....NOT a sign of slumping market..smart money is on the buy side.....programmed selling are controlled by Algorithm...BUT there ARE buyers WAITING.... who are too happy to buy @ low low prices....

When we look back in few months..we MAY realize that this was the "buying opportunity"

Job Growth in US is "on track" contrary to market reaction on Friday....

Europe is NOT a basket case...only few minor economies are "challenged" which is nothing close to what we faced in banking crisis of 08.....

IF we can come out of "financial mess of 08" then Europe will be a piece of cake........

Here is my $ / sector allocation as of Friday :

CRUS 21.14% Tech/Chip
LVS.. 20.53% Casino Operator
SNDK 20.15% Tech/Flash/Nand memory maker
TCK.. 16.65% Copper/Coal/Zinc miner
CNQ..13.28% Oil & Gas Eploration
SOLF 8.25% Solar fully integrated

I have accumulated stronger stocks which are being sold off in this slump,they are holding "better than weaker stocks"

Good luck in dealing with this "emotional & IRRATIONAL market"

BLOG does NOT give buy or sell.

Saleem

Saturday, June 5, 2010

Buy rated stocks....

Following stocks have displayed "relative strength" in this relentless selling.Strong stocks will recover fast in any upturn.Please do your OWN due diligence by checking FA/TA/TAPE.

SNDK,CRUS,LVS,SOLF,CNQ,TCK,AAPL,GOOG,CREE,
BIDU,CTSH,VMW,EGO,LRCX,.....

Next post by Sunday noon.

BLOG does NOT give buy or sell.

Saleem

Friday, June 4, 2010

3.15% to 3.64% slump in higher volume.....

SO...the shorts, skeptics & machines were in total control of markets today...thanks to overhyped numbers from administration & economists.....you would believe that we had serious negative numbers in job....like job loss of 300k...to justify today's slump of 3.15% to 3.64%...

SO..Euro went below 1.20..where it has struggled for days.....

SO..Hungary is feeling debt issues..so is US & California & every other state in US.....

Markets are programmed to sell..reasons are NOT convincing.....

Technical picture is NOT cause for ALARM yet.....as all Indices are above recent lows...

S&P 500 closed @ 1064.88... previous low is 1040.78...can machines knock this number..YES...BUT what does it proves in the bigger picture.....it just gives anyone a better buying opportunity....

Nasdaq closed @ 2219.17...its recent low is 2140.53..YES machines can knock it lower......
Factually speaking Nasdaq is only 14.99 points away from its 200 DMA......healthiest of all !!!

I am personally NOT looking/worrying @ indices..BUT buying stocks which I should be having in my portfolio...whenever machines are re-programmed to go UP..hopefully I should benefit from uptick...

Some food for thought......for this IRRATIONAL market.......

By Saturday noon..i will list buy rated stocks.

BLOG does NOT give buy or sell.

Saleem

Job creation of 431K does not cut it ......

Job creation of 431,000 is being taken as bad news...41,000 real full time job was created....BUT indices are taking it on the chin as consensus for Job growth was 520,000+...they are down from 2.07% to 2.27%...Nasdaq being down the least.....

BUT..it is NOT the end of the world....technicals are NOT damaged so far....Nasdaq is actually staying above 200 DMA.....

Gold UP $4.80 after being down before

Oil Down $2.54

Canadian $ down 1.06 cents to 94.99..even though Canadian economy created double the expectations in Job growth..24,700 Jobs vs expectations of 12,500.....

Euro is @ 1.1985..lowest level in four years

In my portfolio :

Sold NVDA

Bought CNQ @ $35.52

Portfolio is CNQ,CRUS,LVS,SNDK,SOLF,TCK.....

Most stocks are down....

@ 12.36 following are green :

SOLF,EGO,GS,KGC,SNDA,SPWRA....

BLOG does NOT give buy or sell.

Saleem

Thursday, June 3, 2010

Indices closed UP two day's in a row...NICE !!!

Indices showed resiliency by closing green two days in a row..a rare event since April....

Nasdaq was the strongest......

Strong stocks UP 2% or more included SOLF,CRUS,LVS,BCSI,RVBD,
ASIA,WDC,SOHU,GOOG,V,CNQ,TSL,TER,JDSU,NVLS,LRCX,LULU,
PIR.....

NOW...it is all about Jobs report on Friday.....Pundits are all worried about Friday's report....predicting a market selling no matter what the report is.....SO 400,000+ job growth has no meaning to shorts & their proxies?

Friday's closing is more important than how we trade @ 9.31 AM......

AH Futures UP

AH Nikkei UP

AH OIL & Gold Down

BLOG does NOT give buy or sell.

Saleem

Minor pullback ahead of jobs report.....

Indices are mixed ahead of jobs report......Nasdaq is trying for green 2 days in a row....Dow went above 200 DMA while S&P 500 missed it by a hair.....

CMF in Indices going green....

Jobs report is expected to be "superb" which should propel this market higher.....

Gold Down $17.20

Oil Down 27 cents

Canadian $ Down 32 tick to 95.73

In my portfolio :

Bought SOLF @ $7.08

Portfolio is CRUS,LVS,NVDA,SNDK,SOLF,TCK.....

@ 12.49 following are green:

CRUS,LVS,SOLF,RVBD,CNQ,ASIA,GOOG,JDSU,
BCSI,WDC,SOHU,ISRG,MA,V,TSL,TER,PIR,FMCN,
SINA,SNDA,CTRN,LULU,IGT,FSLR,VAR,FWLT.

BLOG does NOT give buy or sell.

Saleem

Wednesday, June 2, 2010

Indices closed @ high of the day....NICE !!!

All indices closed @ high of the day with Nasdaq closing well above 200 DMA..DOW & S&P 500 are all set to go through 200 DMA.....

Internals of the markets were strong as listed below :

UP volume led by 20.67 to 1 in NYSE & 14.83 to 1 in Nasdaq

Advancing stocks led by 5.72 to 1 in NYSE & 4.14 to 1 in Nasdaq

New 52 wk highs were in the lead in NYSE..Nasdaq still lagged behind with more 52 wk lows....

The above stat has the feel of a solid bottom being in place.....

Many pundits on CNBC are NOT sure of this one day rally..BUT i beg to differ......

Stocks which were up 5% or more included TCK,LVS,BCSI,WDC,PMCS,CNQ,
GNK,SOL......

AH Futures UP

Asian markets UP

Gold,Oil UP

BLOG does NOT give buy or sell.

Saleem

Nasdaq above 200 DMA...NICE !!!!!

Nasdaq is showing technical strength by leaping well above 200 DMA.....while Dow & S&P 500 still below 200 DMA......

Gold Down $1.50

Oil UP $1.05

Canadian $ UP 1.36 cents to 96.31 US for 1 CAD....have been long CAD for almost 14 months & short USD in relationship with CAD..SO IF CAD goes UP against USD ..I make money.....

Portfolio is CRUS,LVS,NVDA,SNDK,TCK.....

Most stocks are UP.....

VIX down 10.58% @ 31.78

BLOG does NOT give buy or sell.

Saleem

Tuesday, June 1, 2010

Another jittery close in Indices......

Close was weak as indices closed near lows of the day......BUT... no real technical damage was done...near lows markets are jittery & backtracks frequently.....

Internals of the market were weak as listed below :

Down volume led by 12.25 to 1 in NYSE & 5.73 to 1 in Nasdaq

Declining stocks led by 3.74 to 1 in NYSE & 4.53 to 1 in Nasdaq

New 52 wk low were in the lead 33 in NYSE & 59 in Nasdaq

After everything is said & done Dow is still above 10,0024 & S&P 500 is @ 1070

Nasdaq is only 7 points below 200 DMA......

All Indices are trying to maintain higher lows....

AH CSIQ reported that it is being investigated by SEC on accounting issues...Stock down 17.79% in AH volume of 349,510

AH Futures are mixed

AH Nikkei & Hang Seng UP

AH Singapore UP

AH Gold Down

AH Oil UP

BLOG does NOT give buy or sell.

Saleem

Dow & Nasdaq green.....NICE !!!!

Dow & Nasdaq are green ignoring many overnight news of China Manufacturing slowing to 53.9 in May vs 55.7 in April....due to European economy slowing down......

On Monday Canadian GDP grew by a stunning 6.1% prompting a rate increase of .25 basis by Canadian Central Bank today....

Also on Monday Indian GDP grew by 8.6%......

SO..we have a mixed picture of economic growth with Europe slowing & a further European banking loss of $239 billion as per ECB......BUT Canada & India growing above trend.....

Gold UP $12.30

Oil Down 72 cents

Canadian $ Down 29 tick to 95.46..as CAD was UP yesterday in anticipation of today's Central Bank hike in interest rate

In my portfolio :

Sold JDSU

Bought SNDK @ $ 46.00

Portfolio is CRUS,LVS,NVDA,SNDK,TCK.......

Most stocks are Down...

@ 12.45 following are green :

AAPL,BIDU,BAC,EGO,ISRG,GOOG,MA,V,
M,AUY,GG,SLW,MRVL,CREE,RCI,ECA,
SNDA,CTRN,AEM,ABX,VAR....

BLOG does NOT give buy or sell.

Saleem