Indices were all set to decline right after close last night as IBM & TXN did not excite anybody with their ER......
S&P 500 went to 1056.88 & came back UP above support area ....currently around 1065..Bears dream of major slump are NOT happening..maybe they should try harder on CNBC....
Gold UP $9.90
Oil UP 44 cents
Canadian $ UP 31 tick to 95.05...Canadian Central Bank raised interest rate by .25%..BUT downgraded growth rate for Canada slightly till 2011.....
Portfolio is AAPL,CREE,EGO,LVS......
AAPL reports tonight...guidance should be strong....ihope
@ 12.44 following are Green :
AAPL,EGO,LVS,ABX,GOOG,POT,GS,CSIQ,
MA,V,X,IPI,GNK,TCK,ICE,WYNN,AEM,FUQI,
FSLR,FWLT....
BLOG does NOT give buy or sell.
Saleem
6 comments:
Saleem,
You had a good call on SNDK. I am still holding it. Would you buy SNDK at this level? Thanks.
Michael
Hi Michael,
TAPE of SNDK has been weaker than stronger stocks since UBS upgrade.
I will look @ many other stocks before i buy SNDK....
I pay close attention to relative TAPE action.....
@ this level..you should hold SNDK as it CAN turn around in a hurry.
Saleem
Saleem,
Thanks for your guidance. I agree with you that SNDK has been weak, so it is better to buy stronger stock. I learned a lot by reading your blog. You booked profit when people was buying and bought when people was selling. It is tough to control the sentiment. Thanks again.
Michael
Hi Michael,
Thanks for your feedback.
The reason i generally do the opposite of most traders....I keep monitoring technical levels in market & stocks.....it is a difficult analysis....but i take my chances based on risk/reward ratio.....
I generally get very bullish when markets are going down for days & get worried when markets have been up for many days.....
Saleem
SALEEM
Hurray you called the market
APPLE will rule--no worry
As for a pop--if market goes up so goes APPLE
VOD is still doing fine, GE and CIEN are poor performance stocks
Hi Madmax,
Thanks for your feedback.
AAPL ER is generally a huge beat...which should propel the stock into new 52 wk high...
Many past strong stocks are laggards now like MU,CIEN,JDSU...
VOD..i have never followed..but you are making $$$$$
Saleem
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