HFT tried their best to derail this market but FAILED...thanks to higher volume & real long-term buyers stepping IN.....
Only Nasdaq closed Down
Chinese PMI is expected to show growth...anything higher than 51.2 of last month will set a rally in markets....
India's Q2 GDP was +8.8%..they are predicting minimum +8.75% GDP for 2010.....I guess Roubini & David Rosenberg have NOT heard of China & India's GDP growth rate in their "doomsday scenario"
Internals of the markets were OK.....
Many stocks closed green including AAPL,BIDU,TSL,IBN,SOHU,X,GG,
JASO,SOL.....
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 31, 2010
S&P 500 retested support @ 1040 area & held...NICE !!!!
S&P 500 has a nasty habit of going to 1040 area to scare everybody BUT..does NOT break that support line.....SO we had "triple testing" & we are ABOVE now.....
HFT must be "relaxed" today & NOT in PANIC sell mode......
Gold UP $11.20
Oil Down $1.08
Canadian $ Down .36 tick to 94.00....Canada Q2 GDP came in @ 2.00% vs 5.8% in Q1....
Portfolio is AAPL,BIDU,VMW & LVS.....
Most stocks are UP
@ 12.26 following are RED :
RIMM,SNDK,CREE,CRUS,ASIA,CCJ,MA,V,
CNQ,RCI,CTRN,NDAQ,WYNN,NTES,FUQI,
VLO,LDK,SNE,APWR,BCSI....
BLOG does NOT give buy or sell.
Saleem
HFT must be "relaxed" today & NOT in PANIC sell mode......
Gold UP $11.20
Oil Down $1.08
Canadian $ Down .36 tick to 94.00....Canada Q2 GDP came in @ 2.00% vs 5.8% in Q1....
Portfolio is AAPL,BIDU,VMW & LVS.....
Most stocks are UP
@ 12.26 following are RED :
RIMM,SNDK,CREE,CRUS,ASIA,CCJ,MA,V,
CNQ,RCI,CTRN,NDAQ,WYNN,NTES,FUQI,
VLO,LDK,SNE,APWR,BCSI....
BLOG does NOT give buy or sell.
Saleem
Monday, August 30, 2010
HFT closed indices @ lows of the day.....
HFT agenda was evident whole day as indices were sold off on "lowest volume of the year"...
There was no news to warrant this selling @ all..BUT HFT wanted it down ,down & down....so we closed @ low of the day.....
SO..do NOT be surprised IF we go UP tomorrow on HFT agenda of UP,Down,UP,Down.....
Internals of the market were decidedly negative.....
There were few stocks which ended green..they included AAPL,SNDK,
SLW,AUY,FNSR,SOL......
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
There was no news to warrant this selling @ all..BUT HFT wanted it down ,down & down....so we closed @ low of the day.....
SO..do NOT be surprised IF we go UP tomorrow on HFT agenda of UP,Down,UP,Down.....
Internals of the market were decidedly negative.....
There were few stocks which ended green..they included AAPL,SNDK,
SLW,AUY,FNSR,SOL......
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
IS Wall Sreet pressuring Obama on Bush cut extension....????
It looks like Wall Street is putting "political pressure" on Obama to extend Bush Tax cut..thus ongoing negative TAPE on Wall Street.....
Currently Indices are down about .5% stuck in lower end of the trading range.....
Gold UP 40 cents
Oil Down 70 cents
Canadian $ Down 13 tick to 94.68
In my portfolio :
Bought VMW @ $79.51
Portfolio is AAPL,BIDU,LVS,VMW.....
Most stocks are Down....
@ 12.53 following are green :
AAPL,VMW,SOL,RIMM,AGU,SLW,SNDK,
AUY,FMCN,ECA,SNDA,BRCD,AEM,VLO...
BLOG does NOT give buy or sell.
Saleem
Currently Indices are down about .5% stuck in lower end of the trading range.....
Gold UP 40 cents
Oil Down 70 cents
Canadian $ Down 13 tick to 94.68
In my portfolio :
Bought VMW @ $79.51
Portfolio is AAPL,BIDU,LVS,VMW.....
Most stocks are Down....
@ 12.53 following are green :
AAPL,VMW,SOL,RIMM,AGU,SLW,SNDK,
AUY,FMCN,ECA,SNDA,BRCD,AEM,VLO...
BLOG does NOT give buy or sell.
Saleem
Sunday, August 29, 2010
Are we on the verge of another bull run like March 09 ???
Back in March 09.....some 18 months ago....."doom & gloom" was @ sky high level..individual investors polled on March 5th were only 19% bullish... that was one day before low of 666 in S&P 500 & we went UP 300 S&P 500 points in a hurry in a fast 60 days which was 45% UP move.....
Now individual investors are only 21% bullish.......????
Can history repeat itself ????
The chance of a "fast move UP" is overwhelming.....
Reasons for this "unusually bullish set up are many"
-There has been 15 weeks of "outflow from equity"
-Bond has seen "unbelievable inflow" & is @ its peak.....
-There is an "inverse head & shoulder pattern in S&P 500"
Sentiment plus fear plus technicals are a perfect "trifecta" for a sustained rally.....
I know..I know.....I am an optimist by nature...BUT there is MORE reasons to be "even more optimistic"
Rally gets underway when most traders/investors have given up as evidenced by individual investors sentiment........
Since mid June TAPE has been volatile & currently we are near lower end of the range...thus a good staging point for a strong rally.....
BUT it is important to be comfortable with your exposure & strategy as market can be "unpredictable" in best of times......
Many stocks are trading near lower end of trading range...so it is possible that all boats will be lifted this time around......
My preference will be to keep trading & book profit as it comes......
My current portfolio remains AAPL,BIDU & LVS....I am planning to add another stock on Monday.
Good luck with your OWN interpretation of this market & in your OWN strategy.
BLOG does NOT give buy or sell.
Saleem
Now individual investors are only 21% bullish.......????
Can history repeat itself ????
The chance of a "fast move UP" is overwhelming.....
Reasons for this "unusually bullish set up are many"
-There has been 15 weeks of "outflow from equity"
-Bond has seen "unbelievable inflow" & is @ its peak.....
-There is an "inverse head & shoulder pattern in S&P 500"
Sentiment plus fear plus technicals are a perfect "trifecta" for a sustained rally.....
I know..I know.....I am an optimist by nature...BUT there is MORE reasons to be "even more optimistic"
Rally gets underway when most traders/investors have given up as evidenced by individual investors sentiment........
Since mid June TAPE has been volatile & currently we are near lower end of the range...thus a good staging point for a strong rally.....
BUT it is important to be comfortable with your exposure & strategy as market can be "unpredictable" in best of times......
Many stocks are trading near lower end of trading range...so it is possible that all boats will be lifted this time around......
My preference will be to keep trading & book profit as it comes......
My current portfolio remains AAPL,BIDU & LVS....I am planning to add another stock on Monday.
Good luck with your OWN interpretation of this market & in your OWN strategy.
BLOG does NOT give buy or sell.
Saleem
Saturday, August 28, 2010
Buy rated stocks.....
Following stocks have the "potential" of rising in a hurry.Please do your OWN due diligence by checking FA/TA/TAPE.
LVS,BIDU,AAPL,VMW,TSL,SOL,SOHU,
FMCN,GOOG,CREE,RVBD,TCK,CNQ,
RY,X,NVTL,SWIR,CIEN,TZOO.
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
LVS,BIDU,AAPL,VMW,TSL,SOL,SOHU,
FMCN,GOOG,CREE,RVBD,TCK,CNQ,
RY,X,NVTL,SWIR,CIEN,TZOO.
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, August 27, 2010
1.66% gain @ close .....NICE !!!!
Doom & Gloom were on overdrive going into GDP & Fed speak.....even after Fed Chief reassuring words..indices were taken to "red".....then HFT after scooping all cheap shares..rocketing market UP to close @ high of the day.....
Internals of the market were "super strong"...as listed below :
UP volume led by 12.72 to 1 in NYSE & 10.13 to 1 in Nasdaq
Advancing stocks led by 6.59 to 1 in NYSE & 4.82 to 1 in Nasdaq
VIX Down 10.67% @ 24.45
In my portfolio :
Sold SOLF
Bought AAPL @ $241.06
Portfolio is AAPL,BIDU,LVS......
Stocks which were UP 3% or more included BIDU,LVS,SOLF,
AGU,CRUS,RVBD,X,TCK,CREE,CNQ,JASO,SOL,FUQI,BZH.....
By noon Saturday..i will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Internals of the market were "super strong"...as listed below :
UP volume led by 12.72 to 1 in NYSE & 10.13 to 1 in Nasdaq
Advancing stocks led by 6.59 to 1 in NYSE & 4.82 to 1 in Nasdaq
VIX Down 10.67% @ 24.45
In my portfolio :
Sold SOLF
Bought AAPL @ $241.06
Portfolio is AAPL,BIDU,LVS......
Stocks which were UP 3% or more included BIDU,LVS,SOLF,
AGU,CRUS,RVBD,X,TCK,CREE,CNQ,JASO,SOL,FUQI,BZH.....
By noon Saturday..i will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Indices UP .90% to .1.06%...NICE !!!!
Indices are UP almost 1% on better than forecasted GDP growth of 1.6%.....Ben Bernanke also assured Wall Street that Fed is NOT sleeping @ the switch...ready to ACT IF necessary..also predicting growth in 2011.....
Gold UP $5.90
Oil UP 70 cents
Canadian $ UP 19 tick to 94.75
Portfolio is BIDU,LVS,SOLF.....
VIX Down 6.25% @ 25.66
Most stocks are UP
@1.08 following are RED :
EGO,AUY,GS,ASIA,IBN,SNDK,
RIMM,VXX,QID,CTRN,LULU,IGT,
GAME....
BLOG does NOT give buy or sell.
Saleem
Gold UP $5.90
Oil UP 70 cents
Canadian $ UP 19 tick to 94.75
Portfolio is BIDU,LVS,SOLF.....
VIX Down 6.25% @ 25.66
Most stocks are UP
@1.08 following are RED :
EGO,AUY,GS,ASIA,IBN,SNDK,
RIMM,VXX,QID,CTRN,LULU,IGT,
GAME....
BLOG does NOT give buy or sell.
Saleem
Thursday, August 26, 2010
Another disappointing close......
Market opened higher & then went lower from 130 PM closing near lows......Market internals were extremely weak as listed below :
Down volume led by 3.36 to 1 in NYSE & 4.89 to 1 in Nasdaq
Declining stocks led by 1.81 to 1 in NYSE & 2.01 to 1 in Nasdaq
Market is in total control of HFT ......
There was too much fear about GDP number @ 830 AM & Fed speak @ 10AM.....so lot of selling into close.
VIX UP 2.57% @ 27.37
Following stocks were green @ close EGO,VMW,TSL,AGU,SOHU,EXPE,GG,
AUY,SLW,CIEN,FNSR,JASO,YGE.....
AH Futures are Mixed
AH Asian market Mixed
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Down volume led by 3.36 to 1 in NYSE & 4.89 to 1 in Nasdaq
Declining stocks led by 1.81 to 1 in NYSE & 2.01 to 1 in Nasdaq
Market is in total control of HFT ......
There was too much fear about GDP number @ 830 AM & Fed speak @ 10AM.....so lot of selling into close.
VIX UP 2.57% @ 27.37
Following stocks were green @ close EGO,VMW,TSL,AGU,SOHU,EXPE,GG,
AUY,SLW,CIEN,FNSR,JASO,YGE.....
AH Futures are Mixed
AH Asian market Mixed
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Indices slightly lower after reversing yesterday.....
Market opened higher after jobless claims were better than consensus......
Currently indices are lower with S&P 500 trying to get in green.....
Gold Down $1.30
Oil UP 97 cents
Canadian $ UP 33 tick @ 94.76
In my portfolio :
Sold AUY
Added 40% more LVS @ $ 28.99
Portfolio is BIDU,LVS,SOLF....
Most stocks are UP
@ 12.35 following are RED :
BIDU,RIMM,PCLN,GOOG,POT,RY,SNDK,
SOL,ASIA,LULU,CCJ,MA,NYX,NDAQ,
ISRG,GS,GNK,AMZN,CRUS,V,M,X.....
BLOG does NOT give buy or sell.
Saleem
Currently indices are lower with S&P 500 trying to get in green.....
Gold Down $1.30
Oil UP 97 cents
Canadian $ UP 33 tick @ 94.76
In my portfolio :
Sold AUY
Added 40% more LVS @ $ 28.99
Portfolio is BIDU,LVS,SOLF....
Most stocks are UP
@ 12.35 following are RED :
BIDU,RIMM,PCLN,GOOG,POT,RY,SNDK,
SOL,ASIA,LULU,CCJ,MA,NYX,NDAQ,
ISRG,GS,GNK,AMZN,CRUS,V,M,X.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, August 25, 2010
All Indices rebounded & closed green....NICE !!!!
Indices reversed from technical breakdown & closed green.....quite a feat when sentiment was extremely negative......reversal was so swift that most experienced traders were in disbelief...
This is what is known as "contrary indicator"...when everyone believes we are going down...then selling is almost complete & we turn UP from nowhere.....
Internals of the market were much stronger than close as listed below :
UP volume led by 1.34 to 1 in NYSE & 2.98 to 1 in Nasdaq
Advancing stocks led by 1.56 to 1 in NYSE & 1.76 to 1 in Nasdaq
There were 78 new 52 week highs in NYSE & 11 in Nasdaq
Above stat is much stronger for day 1 of rally when indices were barely green......
Stocks which were UP 4% or more included LVS,SOLF,EGO,CRUS,
SLW,JASO,SOL......
AH Futures UP
AH Asian markets UP
AH OIL & Gold UP
BLOG does NOT give buy or sell.
Saleem
This is what is known as "contrary indicator"...when everyone believes we are going down...then selling is almost complete & we turn UP from nowhere.....
Internals of the market were much stronger than close as listed below :
UP volume led by 1.34 to 1 in NYSE & 2.98 to 1 in Nasdaq
Advancing stocks led by 1.56 to 1 in NYSE & 1.76 to 1 in Nasdaq
There were 78 new 52 week highs in NYSE & 11 in Nasdaq
Above stat is much stronger for day 1 of rally when indices were barely green......
Stocks which were UP 4% or more included LVS,SOLF,EGO,CRUS,
SLW,JASO,SOL......
AH Futures UP
AH Asian markets UP
AH OIL & Gold UP
BLOG does NOT give buy or sell.
Saleem
S&P 500 undercuts May low by .95.....
S&P 500 went to 1039.83 @ its low point today which barely undercuts May low by .95......in technical terms this undercutting of previous support sets the stage for a major rally...which MAY be underway now......
Most stocks have been cut to levels NOT seen since beginning of this year...thus a retracement of almost 8 months.....IF this is NOT being washed out....then i do not know what deeply OVERSOLD conditions looks like.....
Many good stocks are trading sharply lower today which gives a COMPELLING entry point.....
Gold UP $6.30
Oil Down 8 cents
Canadian $ down 44 tick to 93.98..lower end of trading range
In my portfolio :
Bought BIDU @ $76.20
Portfolio is AUY,BIDU,LVS,SOLF.......
Most stocks are Down
VIX UP .47% to 27.59.....
@ 12.29 following are green :
LVS,AUY,SOLF,RIMM,EGO,SLW,
GOOG,AMZN,CRUS,ISRG,GS,MA,V,
EXPE,GG,SOL,CTRN,ICE,AEM,NYX,
ABX...
Many stocks like above giving "green" to traders even today.......
BLOG does NOT give buy or sell.
Saleem
Most stocks have been cut to levels NOT seen since beginning of this year...thus a retracement of almost 8 months.....IF this is NOT being washed out....then i do not know what deeply OVERSOLD conditions looks like.....
Many good stocks are trading sharply lower today which gives a COMPELLING entry point.....
Gold UP $6.30
Oil Down 8 cents
Canadian $ down 44 tick to 93.98..lower end of trading range
In my portfolio :
Bought BIDU @ $76.20
Portfolio is AUY,BIDU,LVS,SOLF.......
Most stocks are Down
VIX UP .47% to 27.59.....
@ 12.29 following are green :
LVS,AUY,SOLF,RIMM,EGO,SLW,
GOOG,AMZN,CRUS,ISRG,GS,MA,V,
EXPE,GG,SOL,CTRN,ICE,AEM,NYX,
ABX...
Many stocks like above giving "green" to traders even today.......
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 24, 2010
Was 1046.68 in S&P 500 low for this slump...
We saw 1046.68 as low for the day which is higher than 1040.78 May low & 1042.17 June low...this gives me great hope that this low should hold for now......
Sentiment is "lousy" for stocks as IF this is the new 6 letter bad word.....this gives me a very reliable "contrary indicator"....
RSI of 34.43 is "screaming buy"......
Most technicians on CNBC calling for 800+ in S&P 500 & 80% cash...another good reason to be bullish......
Stock market "current slump" has discounted many issues which investors/traders are "sweating about"....
AH Euro UP..after S&P downgrade of Ireland
AH Oil UP
AH Gold Down
AH Futures UP
AH Asian markets Down
In my portfolio :
Doubled my position in SOLF @ $9.93..now my largest stake
Portfolio is LVS,AUY & SOLF....
BLOG does NOT give buy or sell.
Saleem
Sentiment is "lousy" for stocks as IF this is the new 6 letter bad word.....this gives me a very reliable "contrary indicator"....
RSI of 34.43 is "screaming buy"......
Most technicians on CNBC calling for 800+ in S&P 500 & 80% cash...another good reason to be bullish......
Stock market "current slump" has discounted many issues which investors/traders are "sweating about"....
AH Euro UP..after S&P downgrade of Ireland
AH Oil UP
AH Gold Down
AH Futures UP
AH Asian markets Down
In my portfolio :
Doubled my position in SOLF @ $9.93..now my largest stake
Portfolio is LVS,AUY & SOLF....
BLOG does NOT give buy or sell.
Saleem
Indices Down 1.10% to 1.35%......
Indices took a tumble right @ open ...currently down max 1.35%......
S&P 500 went down to 1046.68 still above 1040-1042 area & well above much feared 1010..RSI @ 35.31 strong buy zone.....
VIX @ 26.79 UP 4.4%...some technicians were expecting a much bigger jump???
Gold UP $3.50
Oil Down $1.24
Canadian $ Down 73 tick to 94.46..retail sales in Canada was weaker than consensus.
In my portfolio :
Sold CNQ
Portfolio is LVS,AUY,SOLF.....
Most stocks are down..
TSL ER was a beat & guide UP,stocks UP 6.87%
@ 1.00 PM following are green :
RVBD,V,FMCN,KGC,AEM,FSLR,VXX,QID....
BLOG does NOT give buy or sell.
Saleem
S&P 500 went down to 1046.68 still above 1040-1042 area & well above much feared 1010..RSI @ 35.31 strong buy zone.....
VIX @ 26.79 UP 4.4%...some technicians were expecting a much bigger jump???
Gold UP $3.50
Oil Down $1.24
Canadian $ Down 73 tick to 94.46..retail sales in Canada was weaker than consensus.
In my portfolio :
Sold CNQ
Portfolio is LVS,AUY,SOLF.....
Most stocks are down..
TSL ER was a beat & guide UP,stocks UP 6.87%
@ 1.00 PM following are green :
RVBD,V,FMCN,KGC,AEM,FSLR,VXX,QID....
BLOG does NOT give buy or sell.
Saleem
Monday, August 23, 2010
Disappointing close in all indices......
Today's close is giving an F grade for the health of this market......closing near lows of the day is never good especially when we had a strong open.....
We closed barely above "flash crash" level of 1065.70 in 1st wk of May 2010.....our close today 1067.36....
RSI in S&P 500 is 39.11 in Nasdaq it is 38.58
Internals were weak.....
Indices were positive until 2 PM...then it went down to the lows of the day
@ best this market is weak......
CMF is geting close to break even from extremely positive.....
VIX closed UP .67% to 25.66......
Among the few green stocks included AUY,POT,AGU,MOS,
STP,JASO,GOOG,CCJ,IBN,BCSI,LDK....
AH Asian markets Down
AH Futures Down
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
We closed barely above "flash crash" level of 1065.70 in 1st wk of May 2010.....our close today 1067.36....
RSI in S&P 500 is 39.11 in Nasdaq it is 38.58
Internals were weak.....
Indices were positive until 2 PM...then it went down to the lows of the day
@ best this market is weak......
CMF is geting close to break even from extremely positive.....
VIX closed UP .67% to 25.66......
Among the few green stocks included AUY,POT,AGU,MOS,
STP,JASO,GOOG,CCJ,IBN,BCSI,LDK....
AH Asian markets Down
AH Futures Down
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
S&P 500 green signalling a "turn UP" in markets.....
S&P 500 made a higher low today & is trying hard for a green.....Nasdaq is the laggard today despite HPQ substantially higher bid for PAR.....
Indices should work its way higher today as selling was met with conviction buying......
VIX Down .94% @ 25.25
Gold Down $2.70
Oil Down 92 cents
Canadian $ Down 21 tick to 95.13
In my portfolio :
Added 50% SOLF @ $10.43
Portfolio is AUY,CNQ,LVS,SOLF....
BIDU was Downgraded with an increased target from $80 to $86 .....
Most stocks are down...
@ 12.57 following are green :
CNQ,GOOG,POT,RY,LDK,CAGC,
AGU,RVBD,IBN,CCJ,MA,V,FMCN,
RCI,CTRN,LULU,NYX,FSLR,GNK,
FWLT....
TSL to report before open Tuesday..expecting a Beat & guide Higher....
BLOG does NOT give buy or sell.
Saleem
Indices should work its way higher today as selling was met with conviction buying......
VIX Down .94% @ 25.25
Gold Down $2.70
Oil Down 92 cents
Canadian $ Down 21 tick to 95.13
In my portfolio :
Added 50% SOLF @ $10.43
Portfolio is AUY,CNQ,LVS,SOLF....
BIDU was Downgraded with an increased target from $80 to $86 .....
Most stocks are down...
@ 12.57 following are green :
CNQ,GOOG,POT,RY,LDK,CAGC,
AGU,RVBD,IBN,CCJ,MA,V,FMCN,
RCI,CTRN,LULU,NYX,FSLR,GNK,
FWLT....
TSL to report before open Tuesday..expecting a Beat & guide Higher....
BLOG does NOT give buy or sell.
Saleem
Sunday, August 22, 2010
Are we all set to rally in a narrow range from here ???
Sentiment is so poor on Wall Street ..that the thought of rally is farthest from the mind of traders/investors......
This market's narrow trading range of 6% has crushed portfolio to its lowest level in terms of equity.....
Unless you had AG stock previous week...you are very discouraged......
To be honest with you...there is not much to like about this narrow range bound market.....
BUT..IF you are daring enough....you CAN quickly trade in or out...it is like MAX 24 hour trade..
Also..IF you have a bad stock which is going south...better get out quickly..as loss will mount in this "nervous" market....
SO..let us see how major index have fared as of Friday :
S&P 500 is Down 5.79%....RSI 40.55%
Nasdaq is Down 6.49%......RSI 41.36%
As we are hitting lower & lower range on the downside...it is safe to conclude that we MAY not go up to the upper trading range....meaning indices MAY trade within 3% from low to high.....
Based on the close of 1071.69..we MAY be looking @ S&P 500 going to 1099 area.....
As this market trading is dominated by High Frequency Traders...3% UP move may come very quickly in matter of two trading days.......
So...the reality of this market for a long long time is a trading range which IS getting narrower & narrower.......
I am TRYING to trade within this range with most of my trading ideas......IF they don't pan out I still get out before its too late.....
Here is my $/sector allocation as of Friday's close :
LVS 37.36% Casino Operator
AUY 33.46% Gold Mining
CNQ 16.24% Oil & Gas producer
SOLF 12.94% Solar
As you can see.....I have no Tech exposure as they ARE under performing for a while...although there are some good ideas i trade like BIDU from time to time...
Good luck with your OWN survival guide in this negative trading environment.
BLOG does NOT give buy or sell.
Saleem
This market's narrow trading range of 6% has crushed portfolio to its lowest level in terms of equity.....
Unless you had AG stock previous week...you are very discouraged......
To be honest with you...there is not much to like about this narrow range bound market.....
BUT..IF you are daring enough....you CAN quickly trade in or out...it is like MAX 24 hour trade..
Also..IF you have a bad stock which is going south...better get out quickly..as loss will mount in this "nervous" market....
SO..let us see how major index have fared as of Friday :
S&P 500 is Down 5.79%....RSI 40.55%
Nasdaq is Down 6.49%......RSI 41.36%
As we are hitting lower & lower range on the downside...it is safe to conclude that we MAY not go up to the upper trading range....meaning indices MAY trade within 3% from low to high.....
Based on the close of 1071.69..we MAY be looking @ S&P 500 going to 1099 area.....
As this market trading is dominated by High Frequency Traders...3% UP move may come very quickly in matter of two trading days.......
So...the reality of this market for a long long time is a trading range which IS getting narrower & narrower.......
I am TRYING to trade within this range with most of my trading ideas......IF they don't pan out I still get out before its too late.....
Here is my $/sector allocation as of Friday's close :
LVS 37.36% Casino Operator
AUY 33.46% Gold Mining
CNQ 16.24% Oil & Gas producer
SOLF 12.94% Solar
As you can see.....I have no Tech exposure as they ARE under performing for a while...although there are some good ideas i trade like BIDU from time to time...
Good luck with your OWN survival guide in this negative trading environment.
BLOG does NOT give buy or sell.
Saleem
Saturday, August 21, 2010
Buy rated stocks.....
Following stocks are showing "technical strength" as they are all above 50 DMA.Please do your OWN due diligence by checking FA/TA/TAPE.
AUY,SOLF,LVS,BIDU,CAGC,EGO,TSL,
PCLN,EXPE,VMW,M,GS,AMZN,POT,CCJ,
AGU,RVBD,IBN,SOHU,NTES....
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
AUY,SOLF,LVS,BIDU,CAGC,EGO,TSL,
PCLN,EXPE,VMW,M,GS,AMZN,POT,CCJ,
AGU,RVBD,IBN,SOHU,NTES....
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, August 20, 2010
Constructive close today.....
Indices fought their way back to recoup most of their loss...Nasdaq actually made it into green..
Internals in Nasdaq were positive.....
Stocks which were UP 1% or more included BIDU,VMW,RVBD,
M,AMCC,CIEN,SOL.....
By noon Saturday..I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Internals in Nasdaq were positive.....
Stocks which were UP 1% or more included BIDU,VMW,RVBD,
M,AMCC,CIEN,SOL.....
By noon Saturday..I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Indices down from .64% to 1.03%......
S&P 500 took out recent support and went down to 1063.91.....still ABOVE next support area of 1056.88 & then mother of all support @ 1010.91.....
Bearishness is @ its peak as retail individual investors are bearish & MAY signal a turn UP....
Gold Down $7.30
Oil Down $1.12
Canadian $ Down 72 tick @ 95.30....
VIX UP .45% @ 26.56
In my portfolio :
Sold RIMM
Bought SOLF @ $10.02
Bought CNQ @ $31.87
Portfolio is AUY,LVS,CNQ,SOLF......
RIMM was downgraded by Morgan Stanley with a $47 target....
Most stocks are down
@ 12.47 following are green :
VMW,GS,RVBD,FMCN,TKC,CTRN,
GAME,FSLR.....
BLOG does NOT give buy or sell.
Saleem
Bearishness is @ its peak as retail individual investors are bearish & MAY signal a turn UP....
Gold Down $7.30
Oil Down $1.12
Canadian $ Down 72 tick @ 95.30....
VIX UP .45% @ 26.56
In my portfolio :
Sold RIMM
Bought SOLF @ $10.02
Bought CNQ @ $31.87
Portfolio is AUY,LVS,CNQ,SOLF......
RIMM was downgraded by Morgan Stanley with a $47 target....
Most stocks are down
@ 12.47 following are green :
VMW,GS,RVBD,FMCN,TKC,CTRN,
GAME,FSLR.....
BLOG does NOT give buy or sell.
Saleem
Thursday, August 19, 2010
Indices took a tumble..down almost 1.7%...
Indices were in a retreat towards its support area......reason for tumble was jobless claims shot up to 500,000....a 9 month high......
Job picture will remain weak till 2011 as articulated by Fed Chief Ben Bernanke & many other economist.....last week numbers were also revised up to 488,000......
Market is certainly putting a brave fight to deal with economic data which are less than rosy in US......
S&P 500 went to 1070.66 which is higher than recent low of 1069.46....Closing @ 1075.63.....
Retail traders/investors are getting very discouraged with one day UP & next day Down market ...BUT there is encouraging sign......we are NOT making lower lows @ all...remember 1010 in S&P 500 which was reached end of June ....we ARE holding ABOVE ...
Every time there is a "heartbreaking day like today"...we normally reach a new bottom & then move UP for few day's......that IS the pattern of this market......so profit needs to be booked ASAP or else you will lose it......I AM following this rule @ every chance i get......
Market internals were weak almost 4 to 1 on the downside ...Nasdaq new 52 wk low were 121 while new 52 wk high were only 14...an extreme reading..
AH ER from DELL,CSIQ & HPQ were greeted with selling.....
AH Futures Mixed
AH Asian markets Down
AH Gold Down
AH Oil UP
BLOG does NOT give buy or sell.
Saleem
Job picture will remain weak till 2011 as articulated by Fed Chief Ben Bernanke & many other economist.....last week numbers were also revised up to 488,000......
Market is certainly putting a brave fight to deal with economic data which are less than rosy in US......
S&P 500 went to 1070.66 which is higher than recent low of 1069.46....Closing @ 1075.63.....
Retail traders/investors are getting very discouraged with one day UP & next day Down market ...BUT there is encouraging sign......we are NOT making lower lows @ all...remember 1010 in S&P 500 which was reached end of June ....we ARE holding ABOVE ...
Every time there is a "heartbreaking day like today"...we normally reach a new bottom & then move UP for few day's......that IS the pattern of this market......so profit needs to be booked ASAP or else you will lose it......I AM following this rule @ every chance i get......
Market internals were weak almost 4 to 1 on the downside ...Nasdaq new 52 wk low were 121 while new 52 wk high were only 14...an extreme reading..
AH ER from DELL,CSIQ & HPQ were greeted with selling.....
AH Futures Mixed
AH Asian markets Down
AH Gold Down
AH Oil UP
BLOG does NOT give buy or sell.
Saleem
Indices Down 1.55% to 1.79% on negative jobs picture....
Indices are taking a beating on highest unemployment claims in 9 months.....
S&P 500 went to 1070.66 HIGHER than 1069.49 reached few days back...which IS a good thing ..technically speaking.....
Oil Down $1.06
Gold UP $5.80
Canadian $ Down 98 tick to 96.20
VIX UP 7.6% @ 26.46
Portfolio is AUY,RIMM,LVS.....
Most stocks are down...
BLOG does NOT give buy or sell.
Saleem
S&P 500 went to 1070.66 HIGHER than 1069.49 reached few days back...which IS a good thing ..technically speaking.....
Oil Down $1.06
Gold UP $5.80
Canadian $ Down 98 tick to 96.20
VIX UP 7.6% @ 26.46
Portfolio is AUY,RIMM,LVS.....
Most stocks are down...
BLOG does NOT give buy or sell.
Saleem
Wednesday, August 18, 2010
Another green close...NICE !!!
All major index closed green.....
Internals were strong in NYSE & neutral in Nasdaq....
Stocks which closed higher by 2% or more included EGO,POT,TSL,
CCJ,M,X,GG,SLW,CREE,SNDK,SOL,BZH,ABX....
AH SNDK announced $1 billion convertible..stock down AH 2.63%
AH NTAP ER was a beat BUT guidance in-line ..Stock Down 4.83%
AH Futures Down
AH Asian markets UP
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Internals were strong in NYSE & neutral in Nasdaq....
Stocks which closed higher by 2% or more included EGO,POT,TSL,
CCJ,M,X,GG,SLW,CREE,SNDK,SOL,BZH,ABX....
AH SNDK announced $1 billion convertible..stock down AH 2.63%
AH NTAP ER was a beat BUT guidance in-line ..Stock Down 4.83%
AH Futures Down
AH Asian markets UP
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Market trying for green again.....
Indices are mixed so far with Nasdaq & S&P 500 in green.....
Gold UP $5.00 to $1231.60..above magic $1225 number...NICE !!!
Oil Down $1.07
Canadian $ UP 32 tick to 97.17..getting near recent highest close...NICE $$$$
In my portfolio :
Added 35% AUY @ $10.03
Portfolio is AUY,RIMM,LVS......
Most stocks are UP
@ 12.39 following are Down :
BIDU,CNQ,GOOG,ASIA,ISRG,MA,V,
CTRN,EXPE,TCK,VXX,CNQ,ECA,ICE,
JRCC,NYX,FSLR,SNE,VAR.....
BLOG does NOT give buy or sell.
Saleem
Gold UP $5.00 to $1231.60..above magic $1225 number...NICE !!!
Oil Down $1.07
Canadian $ UP 32 tick to 97.17..getting near recent highest close...NICE $$$$
In my portfolio :
Added 35% AUY @ $10.03
Portfolio is AUY,RIMM,LVS......
Most stocks are UP
@ 12.39 following are Down :
BIDU,CNQ,GOOG,ASIA,ISRG,MA,V,
CTRN,EXPE,TCK,VXX,CNQ,ECA,ICE,
JRCC,NYX,FSLR,SNE,VAR.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 17, 2010
Indices UP 1.01% to 1.26%.....NICE !!!!
Indices had a strong day on high volume thanks to BHP offer to buy POT.....
Internals of the market were strong....
Ag stocks went UP sharply with POT being UP 27.66%
Stocks which were UP 3% or more included AUY,LVS,AGU,CCJ,
TCK,X,CNQ,CREE,CIEN,SOL,STP,BOOM.....
AH Futures Down
AH Asian markets UP
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Internals of the market were strong....
Ag stocks went UP sharply with POT being UP 27.66%
Stocks which were UP 3% or more included AUY,LVS,AGU,CCJ,
TCK,X,CNQ,CREE,CIEN,SOL,STP,BOOM.....
AH Futures Down
AH Asian markets UP
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Be greedy when others are fearful..Market UP...NICE !!!!
Indices are proving once again that it can fool the best of "chart readers"......
Indices are UP from 1.35% to 1.52%......
Dow is above 50 DMA & is ready to take out 200 DMA.....
S&P 500 is above 50 DMA
Nasdaq still below 50 DMA by about 14 points.....
SO..indices are pointing North ????
Headline quote is from best investor Warren Buffett......it pays to listen to sharpest mind on planet Wall Street....
Gold UP $1.40
Oil UP $1.01
Canadian $ UP 1.14 cents to 96.92
VIX Down 7.78% to 24.07
In my portfolio :
Sold BIDU
Added 80% more RIMM @ $50.12
Bought AUY @ $10.13..showing relative strength in gold mining sector....
Portfolio is LVS,RIMM,AUY......
Most stocks are UP
BLOG does NOT give buy or sell.
Saleem
Indices are UP from 1.35% to 1.52%......
Dow is above 50 DMA & is ready to take out 200 DMA.....
S&P 500 is above 50 DMA
Nasdaq still below 50 DMA by about 14 points.....
SO..indices are pointing North ????
Headline quote is from best investor Warren Buffett......it pays to listen to sharpest mind on planet Wall Street....
Gold UP $1.40
Oil UP $1.01
Canadian $ UP 1.14 cents to 96.92
VIX Down 7.78% to 24.07
In my portfolio :
Sold BIDU
Added 80% more RIMM @ $50.12
Bought AUY @ $10.13..showing relative strength in gold mining sector....
Portfolio is LVS,RIMM,AUY......
Most stocks are UP
BLOG does NOT give buy or sell.
Saleem
Monday, August 16, 2010
Impressive close today.....
Market braved barrage of negative news but closed almost positive in all indices.....
S&P 500 was taken down to 1069.49 but fought its way back to close @ 1079.38....UP a respectable .13.....
Elliott Wave theorist Guru..Robert Prechter was again looking @ his detailed chart which told him again that "crash is coming"..so he went on Bloomberg on the weekend to rehash his DIRE prediction.......by close we all knew that Prechter & many other chartist were proven wrong.....
Stocks which were UP 2% or more included SNDK,EGO,TSL,IAG,SLW.....
AH Futures Down
AH Oil Down
AH Gold UP
AH Asian market Down
BLOG does NOT give buy or sell.
Saleem
S&P 500 was taken down to 1069.49 but fought its way back to close @ 1079.38....UP a respectable .13.....
Elliott Wave theorist Guru..Robert Prechter was again looking @ his detailed chart which told him again that "crash is coming"..so he went on Bloomberg on the weekend to rehash his DIRE prediction.......by close we all knew that Prechter & many other chartist were proven wrong.....
Stocks which were UP 2% or more included SNDK,EGO,TSL,IAG,SLW.....
AH Futures Down
AH Oil Down
AH Gold UP
AH Asian market Down
BLOG does NOT give buy or sell.
Saleem
Why indices UP from .20% to .79% ???
Robert Prechter over the weekend in Bloomberg interview made his 1000th crash call...and again he is eating crow like most technicians......
Japan GDP came in much weaker.....
Housing confidence much weaker.....
SO..what market does ...after every retail SOLD on the negative opening....we went UP.....
Moral of the story IS...pay attention to negative sentiment..it IS the biggest CONTRARY indicator.....
Gold UP $7.50
Oil Down 11 cents
Canadian $ Down 11 tick to 95.91
Portfolio is RIMM,BIDU,LVS.....
Most stocks are UP
@ 12.55 following are Down :
RIMM,GS,BAC,SINA,AGU,IBN,ASIA,SOHU,
VXX,QID,RCI,ECA,SNDA,BRCD,IGT,NYX,
SPWRA,ISRG...
BLOG does NOT give buy or sell.
Saleem
Japan GDP came in much weaker.....
Housing confidence much weaker.....
SO..what market does ...after every retail SOLD on the negative opening....we went UP.....
Moral of the story IS...pay attention to negative sentiment..it IS the biggest CONTRARY indicator.....
Gold UP $7.50
Oil Down 11 cents
Canadian $ Down 11 tick to 95.91
Portfolio is RIMM,BIDU,LVS.....
Most stocks are UP
@ 12.55 following are Down :
RIMM,GS,BAC,SINA,AGU,IBN,ASIA,SOHU,
VXX,QID,RCI,ECA,SNDA,BRCD,IGT,NYX,
SPWRA,ISRG...
BLOG does NOT give buy or sell.
Saleem
Sunday, August 15, 2010
Can this market rally from here......????
The big question on wall street is "can we rally from here".....????
Let us examine the technical reading in all major indices before we can come to any conclusion...
Nasdaq is down 5.89%
S&P 500 is down 4.43%
Dow is down 3.89%
RSI is as follows :
Dow 44.22...
S&P 500 42.06..
Nasdaq 38.72
Nasdaq is the-most oversold...RSI hitting strong buy @ 38.72.....last correction we did hit 30 in RSI.....
CAN we rally in the week Option is expiring ??
CAN we rally when retail investor/trader is most scared ????
As sentiment is the-most reliable "contrary indicator"......chance of a rally is extremely high...
HFT generally go in buying mode when retail traders have given up or lost hope....
Another "technical bright spot" is that we did not take out Thursday's low in any indices.....
Also Dow is above 50 DMA...only index showing relative strength......
All these bright spots or my contrary indicator theory is going against technicians who see LOWER number in all indices.....
It is NOT important as to who is right..BUT to buy stocks @ cheaper levels.....
You make money in stock market by buying stocks lower & selling higher.....this MAY work out even though markets are trending lower or are doing nothing.....
That is the reason..i book profit immediately or cut losses quickly...as profits disappear & losses mounts in this unpredictable TAPE....
SO..look @ any weakness as buying opportunity & book gains immediately.....
TAPE has been tough...stocks are in a very narrow range...so buying @ low end & selling @ high end is highly recommended...even 50 cents per share gain can add up...IF you are lucky enough to do many times......
The way i see it......index are stuck in a narrow trading range due to weaker data worldwide..but HFT take full advantage of it by playing the narrow range of this market......
We MAY be looking @ daily UP & DOWN next day market for a while......so position accordingly......
Trade stocks whose pattern are known to you...do NOT go with CNBC fad of the day....because you MAY be buying @ high end of the range.....
YES..TAPE has been discouraging..BUT there is a way to trade IF you are QUICK in execution....
Market character CHANGES all the time..so it is important to adapt QUICKLY .....
When market is range bound...then it is important to trade & book profit......
Good luck with your strategy & in your understanding of current TAPE.
BLOG does NOT give buy or sell.
Saleem
Let us examine the technical reading in all major indices before we can come to any conclusion...
Nasdaq is down 5.89%
S&P 500 is down 4.43%
Dow is down 3.89%
RSI is as follows :
Dow 44.22...
S&P 500 42.06..
Nasdaq 38.72
Nasdaq is the-most oversold...RSI hitting strong buy @ 38.72.....last correction we did hit 30 in RSI.....
CAN we rally in the week Option is expiring ??
CAN we rally when retail investor/trader is most scared ????
As sentiment is the-most reliable "contrary indicator"......chance of a rally is extremely high...
HFT generally go in buying mode when retail traders have given up or lost hope....
Another "technical bright spot" is that we did not take out Thursday's low in any indices.....
Also Dow is above 50 DMA...only index showing relative strength......
All these bright spots or my contrary indicator theory is going against technicians who see LOWER number in all indices.....
It is NOT important as to who is right..BUT to buy stocks @ cheaper levels.....
You make money in stock market by buying stocks lower & selling higher.....this MAY work out even though markets are trending lower or are doing nothing.....
That is the reason..i book profit immediately or cut losses quickly...as profits disappear & losses mounts in this unpredictable TAPE....
SO..look @ any weakness as buying opportunity & book gains immediately.....
TAPE has been tough...stocks are in a very narrow range...so buying @ low end & selling @ high end is highly recommended...even 50 cents per share gain can add up...IF you are lucky enough to do many times......
The way i see it......index are stuck in a narrow trading range due to weaker data worldwide..but HFT take full advantage of it by playing the narrow range of this market......
We MAY be looking @ daily UP & DOWN next day market for a while......so position accordingly......
Trade stocks whose pattern are known to you...do NOT go with CNBC fad of the day....because you MAY be buying @ high end of the range.....
YES..TAPE has been discouraging..BUT there is a way to trade IF you are QUICK in execution....
Market character CHANGES all the time..so it is important to adapt QUICKLY .....
When market is range bound...then it is important to trade & book profit......
Good luck with your strategy & in your understanding of current TAPE.
BLOG does NOT give buy or sell.
Saleem
Saturday, August 14, 2010
Buy rated stocks.....
Following stocks are showing technical strength.Please do your OWN due diligence by checking FA/TA/TAPE.
BIDU,LVS,VMW,AGU,AMZN,SOLF,
SINA,CRUS,EXPE,LDK,PCLN,POT.
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
BIDU,LVS,VMW,AGU,AMZN,SOLF,
SINA,CRUS,EXPE,LDK,PCLN,POT.
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, August 13, 2010
Close was @ lows of the day.....
Today's close is nothing to write home about it...we closed Nasdaq @ absolute low of the day..S&P 500 was .25 above low.....the only good thing about today's close that we did not go below yesterday's close & mangaed to stay until close.....
Stocks which were UP 1% or more included VMW,RVBD,IBN,BAC,
RMBS,NVDA...
By noon Saturday..I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Stocks which were UP 1% or more included VMW,RVBD,IBN,BAC,
RMBS,NVDA...
By noon Saturday..I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
S&P 500 Higher low today.....NICE !!!!
Indices are trying to fight negativity by making higher low.....S&P 500 went to 1079.00 as low today ...which is higher than yesterday's low of 1076.69.....which means that further downside may not be there....
Gold Down $1.80
Oil Down 43 cents
Canadian $ UP 48 tick to 96.22
In my portfolio :
Added 50% more RIMM @ $53.00
Portfolio is BIDU,LVS & RIMM.....
@ 12.45 following are green :
BIDU,LVS,VMW,BAC,SOLF,SLW,HPQ,
AGU,RVBD,IBN,X,EXPE,SNDA,WYNN,
VLO,FSLR,FWLT.....
BLOG does NOT give buy or sell.
Saleem
Gold Down $1.80
Oil Down 43 cents
Canadian $ UP 48 tick to 96.22
In my portfolio :
Added 50% more RIMM @ $53.00
Portfolio is BIDU,LVS & RIMM.....
@ 12.45 following are green :
BIDU,LVS,VMW,BAC,SOLF,SLW,HPQ,
AGU,RVBD,IBN,X,EXPE,SNDA,WYNN,
VLO,FSLR,FWLT.....
BLOG does NOT give buy or sell.
Saleem
Thursday, August 12, 2010
.54% to .83% decline in Indices.....
Indices fought all the doom & gloom generated by CSCO & Jobless claims hitting higher than expectations.....By close many stocks found a firm footing & actually closed higher....based on panic generated by CNBC last night & this AM..this certainly was NOT the expected outcome.
Today's TAPE was another display of ongoing strength of this market...we are NOT hitting 1010 or any other crazy lower number put out by perma bears......
Gold was the leading sector today with a solid gain...BUT CNBC is playing the gold card too much daily in every show..so we MAY be getting overbought ......
In my portfolio :
Sold EGO
Sold IAG
Bought RIMM @ $54.23
Portfolio is BIDU,LVS,RIMM.....
Stocks which gained 3% or more included LVS,EGO,AGU,SOL,
POT,SOLF,AUY,JASO.....
AH Futures UP
AH Asian markets mixed
AH Oil UP
AH Gold Down
BLOG does NOT give buy or sell.
Saleem
Today's TAPE was another display of ongoing strength of this market...we are NOT hitting 1010 or any other crazy lower number put out by perma bears......
Gold was the leading sector today with a solid gain...BUT CNBC is playing the gold card too much daily in every show..so we MAY be getting overbought ......
In my portfolio :
Sold EGO
Sold IAG
Bought RIMM @ $54.23
Portfolio is BIDU,LVS,RIMM.....
Stocks which gained 3% or more included LVS,EGO,AGU,SOL,
POT,SOLF,AUY,JASO.....
AH Futures UP
AH Asian markets mixed
AH Oil UP
AH Gold Down
BLOG does NOT give buy or sell.
Saleem
Indices NOT buying "negativity"....NICE !!!!
SO..market were given another bad news @ 830 AM....jobless claims were much higher than consensus.....so S&P 500 was taken down to 1076.69.....then ..few sellers...many buyers..
Currently indices are down from .29% to .53%
Gold UP $15.70
Oil Down $1.44
Canadian $ UP 38 tick to 95.89
Portfolio is BIDU,EGO,IAG,LVS.....
Many stocks are UP
@ 1.07 following are Down :
BIDU,SNDK,RIMM,RVBD,LRCX,ASIA,ASIA,WDC,
VMW,M,CNQ,TCK,MRVL,ECA,SNDA,GAME,VLO..
BLOG does NOT give buy or sell.
Saleem
Currently indices are down from .29% to .53%
Gold UP $15.70
Oil Down $1.44
Canadian $ UP 38 tick to 95.89
Portfolio is BIDU,EGO,IAG,LVS.....
Many stocks are UP
@ 1.07 following are Down :
BIDU,SNDK,RIMM,RVBD,LRCX,ASIA,ASIA,WDC,
VMW,M,CNQ,TCK,MRVL,ECA,SNDA,GAME,VLO..
BLOG does NOT give buy or sell.
Saleem
Wednesday, August 11, 2010
Was today "capitulation in markets".....
Indices were hammered to the tune of almost 3%......
Reason for this "tumble" is @ best very flimsy.....
China has articulated for months that they are clamping down fast to bring their economy from "super hot" almost 12% GDP to more manageable 9%....
BUT..HFT took today's mixed data from China to go "sell,sell,sell...on a "surprise Chinese weakness"
Internals of the market is "screaming capitulation" as listed below :
Down volume led by 37.73 to 1 in NYSE & 21.13 to 1 in Nasdaq..these ARE extremely bearish ratios on a historical basis....
Declining stocks led by 5.94 to 1 in NYSE & 8.93 to 1 in Nasdaq
New 52 wk low were 124 in Nasdaq & 63 in NYSE.....
CSCO commentary was nothing but a " major cover up for a weak Q"..their guidance was also weak....
S&P 500 has declined 3.6% from few day's ago & Nasdaq has declined 4.5% in few day's......
With HFT pushing sell button...most of the correction is done in two day's..as IS the case in the last two full session.....
These HFT led sharp UP & DOWN is the "new game in town".....do the opposite or book profit as you see it......
SO...we MAY open lower then quickly go UP then go down again & then close "green"...that IS the way i see CSCO led Thursday......
I do NOT see too much "punch" left in this HFT led selling.....
AH Futures Down
AH Asian markets Down
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Reason for this "tumble" is @ best very flimsy.....
China has articulated for months that they are clamping down fast to bring their economy from "super hot" almost 12% GDP to more manageable 9%....
BUT..HFT took today's mixed data from China to go "sell,sell,sell...on a "surprise Chinese weakness"
Internals of the market is "screaming capitulation" as listed below :
Down volume led by 37.73 to 1 in NYSE & 21.13 to 1 in Nasdaq..these ARE extremely bearish ratios on a historical basis....
Declining stocks led by 5.94 to 1 in NYSE & 8.93 to 1 in Nasdaq
New 52 wk low were 124 in Nasdaq & 63 in NYSE.....
CSCO commentary was nothing but a " major cover up for a weak Q"..their guidance was also weak....
S&P 500 has declined 3.6% from few day's ago & Nasdaq has declined 4.5% in few day's......
With HFT pushing sell button...most of the correction is done in two day's..as IS the case in the last two full session.....
These HFT led sharp UP & DOWN is the "new game in town".....do the opposite or book profit as you see it......
SO...we MAY open lower then quickly go UP then go down again & then close "green"...that IS the way i see CSCO led Thursday......
I do NOT see too much "punch" left in this HFT led selling.....
AH Futures Down
AH Asian markets Down
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
S&P 500 finding support near 50 DMA.......
S&P 500 went to 1089.63......just above 50 DMA of 1088.03.....IF we hold this level then we MAY build from here.....
Even after Fed brave effort to assure the market yesterday.....sellers took control after Chinese data was weaker.......
Gold UP $2.70
Oil Down $2.01
Canadian $ Down 1.25 cents to 95.51....
In my portfolio :
Sold SNDK
Bought EGO @ $17.30
Bought BIDU @ $84.16
Portfolio is BIDU,EGO,IAG,LVS......
Most stocks are down.....
BLOG does NOT give buy or sell.
Saleem
Even after Fed brave effort to assure the market yesterday.....sellers took control after Chinese data was weaker.......
Gold UP $2.70
Oil Down $2.01
Canadian $ Down 1.25 cents to 95.51....
In my portfolio :
Sold SNDK
Bought EGO @ $17.30
Bought BIDU @ $84.16
Portfolio is BIDU,EGO,IAG,LVS......
Most stocks are down.....
BLOG does NOT give buy or sell.
Saleem
IAG EPS & Sales lower due to production & cost issues..
IAG reported 11 cents EPS vs consensus of 14 on mines shutdown & unforeseen cost issues..
Sales $214 million vs consensus of $226 million
Raising production guidance for 2010 to 980,000 Oz to 1,100,000 million Oz from previous guidance of 940,000 to 1,000,000 Oz....
Also reducing cost per Oz for Gold in 2nd half....
I am keeping IAG based on improved cost & higher production of Gold for 2nd half...
BLOG does NOT give buy or sell.
Saleem
Sales $214 million vs consensus of $226 million
Raising production guidance for 2010 to 980,000 Oz to 1,100,000 million Oz from previous guidance of 940,000 to 1,000,000 Oz....
Also reducing cost per Oz for Gold in 2nd half....
I am keeping IAG based on improved cost & higher production of Gold for 2nd half...
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 10, 2010
Fed decision to lend a hand ...saves the market...NICE !!!
Markets were down 1.5%.......
Then came Fed statement...& it was a change from previous approach.....so they are going to help maintain interest rate lower ..& "buying government debt"...which will bring long term interest rate lower which will help mortgages & corporate borrowing....
This brought US$ down & Gold went UP & whenever US$ goes down market likes it..so we pared most of the loss...
Internals of the market remained much weaker @ close...after long time there were more 52 wk lows in Nasdaq.....
Chinese inflation data just came out & is lower than expected...other economic data were mixed.......
AH Futures Down
AH Asian market UP
AH Oil Down
AH Gold UP
Portfolio is IAG,SNDK,LVS......
BLOG does NOT give buy or sell.
Saleem
Then came Fed statement...& it was a change from previous approach.....so they are going to help maintain interest rate lower ..& "buying government debt"...which will bring long term interest rate lower which will help mortgages & corporate borrowing....
This brought US$ down & Gold went UP & whenever US$ goes down market likes it..so we pared most of the loss...
Internals of the market remained much weaker @ close...after long time there were more 52 wk lows in Nasdaq.....
Chinese inflation data just came out & is lower than expected...other economic data were mixed.......
AH Futures Down
AH Asian market UP
AH Oil Down
AH Gold UP
Portfolio is IAG,SNDK,LVS......
BLOG does NOT give buy or sell.
Saleem
CREE beats by 4 cents on EPS & Sales...Guidance on Sales LOWER..
CREE EPS actual 55 vs consensus of 51 cents..beat by 4 cents
Sales actual $264.6 million vs consensus $264 million..beat by $600K
Guidance $275 million vs consensus of $283.94 million...well short ...by $8.94 million
EPS guidance 56 cents to 59 cents..vs consensus of 54 cents..ahead of consensus...
As CREE is a high BETA stocks ..growth in Sales is necessary to justify stock price...
CREE Down 9.14%....
Sold CREE AH....
BLOG does NOT give buy or sell.
Saleem
Sales actual $264.6 million vs consensus $264 million..beat by $600K
Guidance $275 million vs consensus of $283.94 million...well short ...by $8.94 million
EPS guidance 56 cents to 59 cents..vs consensus of 54 cents..ahead of consensus...
As CREE is a high BETA stocks ..growth in Sales is necessary to justify stock price...
CREE Down 9.14%....
Sold CREE AH....
BLOG does NOT give buy or sell.
Saleem
.87% to 1.51% pullback ahead of fed decision.....
Indices were jolted by weaker import numbers in China.....Fed decision @ 2.15 PM added to selling pressure.
Nasdaq is weaker...
Oil Down $1.30
Gold Down $1.90
Canadian $ Down 90 tick @ 96.52 on weaker housing data
In my portfolio :
Sold JASO
Sold RIMM
Bought CREE @ $70.07..reports AH ..expecting strong numbers
Bought IAG @ $17.56..reports before open Wed..expecting better than consensus
Portfolio is CREE,SNDK,IAG,LVS.....
Most stocks are down.....
@ 12.46 following are green :
RIMM,HPQ,AMZN,V,EXPE,SNDA....
BLOG does NOT give buy or sell.
Saleem
Nasdaq is weaker...
Oil Down $1.30
Gold Down $1.90
Canadian $ Down 90 tick @ 96.52 on weaker housing data
In my portfolio :
Sold JASO
Sold RIMM
Bought CREE @ $70.07..reports AH ..expecting strong numbers
Bought IAG @ $17.56..reports before open Wed..expecting better than consensus
Portfolio is CREE,SNDK,IAG,LVS.....
Most stocks are down.....
@ 12.46 following are green :
RIMM,HPQ,AMZN,V,EXPE,SNDA....
BLOG does NOT give buy or sell.
Saleem
JASO misses by 6 cents on EPS.....guiding 35% higher for 2010..
JASO misses by 6 cents on EPS due to charges....Forex loss & derivative loss
Sales actual $351 million consensus was $303.81 million..so a major beat on Sales
Guiding 1.35 GW vs prior guidance of 1.0 GW for 2010
Forecasting strong solar demand right through 2011....
Stock trading in pre-market @ bid of $6.51 ask $6.64..closed @ $6.57
BLOG does NOT give buy or sell.
Saleem
Sales actual $351 million consensus was $303.81 million..so a major beat on Sales
Guiding 1.35 GW vs prior guidance of 1.0 GW for 2010
Forecasting strong solar demand right through 2011....
Stock trading in pre-market @ bid of $6.51 ask $6.64..closed @ $6.57
BLOG does NOT give buy or sell.
Saleem
Monday, August 9, 2010
.42% to .75% gain in indices...NICE !!!!
Indices closed UP .42% to .75% @ close......
Internals were much stronger than closing %..better than 2 to 1 positive reading....
Stocks that were UP 2% or more included SNDK,RIMM,CRUS,
IBN,SOHU,MA,V,TCK,SOLF,AMCC,CIEN,SOL,FUQI.....
Fed is all set to articulate their decision on interest rate which will
remain unchanged.... BUT may announce either their INTENTION
or IMPLEMENT some new measure to give a BOOST to economy.
Market reaction should be positive IF there is a new policy CHANGE language.
AH Futures Down
AH Asian markets mixed
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Internals were much stronger than closing %..better than 2 to 1 positive reading....
Stocks that were UP 2% or more included SNDK,RIMM,CRUS,
IBN,SOHU,MA,V,TCK,SOLF,AMCC,CIEN,SOL,FUQI.....
Fed is all set to articulate their decision on interest rate which will
remain unchanged.... BUT may announce either their INTENTION
or IMPLEMENT some new measure to give a BOOST to economy.
Market reaction should be positive IF there is a new policy CHANGE language.
AH Futures Down
AH Asian markets mixed
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
All Indices GREEN.....NICE !!!!
Indices are all UP .34% to .53%......
Fed policy statement Tues @ 2.15 should be investor friendly...thus equities are showing strength.
Gold Down $2.60
Oil UP 41 cents
Canadian $ UP 35 tick to 97.39
Portfolio is JASO,LVS,RIMM,SNDK.....
JASO reports before open Tuesday..expecting a beat & guide UP....
LDK reports AH Tuesday
CREE reports AH Tuesday....expecting a beat.
Most stocks are UP
BLOG does NOT give buy or sell.
Saleem
Fed policy statement Tues @ 2.15 should be investor friendly...thus equities are showing strength.
Gold Down $2.60
Oil UP 41 cents
Canadian $ UP 35 tick to 97.39
Portfolio is JASO,LVS,RIMM,SNDK.....
JASO reports before open Tuesday..expecting a beat & guide UP....
LDK reports AH Tuesday
CREE reports AH Tuesday....expecting a beat.
Most stocks are UP
BLOG does NOT give buy or sell.
Saleem
Sunday, August 8, 2010
S&P 500 going to 1180 in this run.....
S&P 500 is defying many bears from Doug Kass,Robert Prechter,Guy Adami,David Rosenberg..they are all "proven wrong" many times..BUT they pretend to know more than anybody on planet Wall Street....
All of them could "clearly see 400 to 850" in S&P 500 since March of 08...after 28 months of being "proven wrong" they still show up on CNBC & rehash their "failed thesis"...& some traders actually "sell" on their deep bearish thesis........
Jimmy the Cramer sold stocks in his charitable trust on Thursday.."fearing ominous slump in indices".....many retail also bailed out last week fearing "retest of 1010"......
Most retail investors are bearish as of last Thursday .....only 30% are bullish..lowest level of bullish sentiment since July 11 when S&P 500 was 100 points lower..
VIX is clearly giving signal that it is heading lower to 19 area...which means indices are moving HIGHER.....
Many are "scratching their head in disbelief" as to why market is not going down..when most economic reports are below expectations......
The reason MAY be as simple as "market has discounted slowing growth already" and is looking forward to better growth "six months out"........
Current slow growth MAY be a reflection of many "stimulus being phased out" worldwide & there is "interest rate being jacked UP" to contain inflation & hyper growth........
When markets do NOT go down on "bad news"...pay attention........
Market TAPE is giving a clear indication that it wants to go HIGHER.......
How HIGH is another debate.......
Based on the current TAPE.....i do see 1180 in the cards......
RSI is @ 59.08.....I can "visualize close to 80" in the current environment......
Many stocks are hitting 52 wk highs repeatedly...a sure sign of "growth in profit"
I also see PE expanding in this low inflationary environment..which means stock prices will be moving HIGHER.....
There are many ways to profit in this environment which are listed below :
-Buy only "momentum stocks"
-Buy a mix of "mostly momentum & few low PE stocks"
-Trade "different momentum stocks alternately"
I have a tendency to "concentrate/monitor max 20 stocks @ a time" and keep "rotating" in the above listed trading approach.......
I am "motivated by a simple philosophy of booking profit as we go along"
I am also highly concentrated in few stocks..works for me !!!!
In hindsight... this rapid trading style.....sometimes limit my profit.... BUT overall..it is a wise approach......
Here is my sector/$ allocation as of Friday's close :
RIMM 38.03% Tech/Smartphone
SNDK 33.39% Tech/Flash Memory
LVS 20.50% Casino Operator
JASO 8.08% Solar cell manufacturer
I try to stay diversified all the time even when theme may be technology...BUT there are many sub-sectors in techs....
Good luck in your OWN due diligence....your trading style is a reflection of your OWN comfort level & knowledge level...if it works to your satisfaction..no need to change.
BLOG does NOT give buy or sell.
Saleem
All of them could "clearly see 400 to 850" in S&P 500 since March of 08...after 28 months of being "proven wrong" they still show up on CNBC & rehash their "failed thesis"...& some traders actually "sell" on their deep bearish thesis........
Jimmy the Cramer sold stocks in his charitable trust on Thursday.."fearing ominous slump in indices".....many retail also bailed out last week fearing "retest of 1010"......
Most retail investors are bearish as of last Thursday .....only 30% are bullish..lowest level of bullish sentiment since July 11 when S&P 500 was 100 points lower..
VIX is clearly giving signal that it is heading lower to 19 area...which means indices are moving HIGHER.....
Many are "scratching their head in disbelief" as to why market is not going down..when most economic reports are below expectations......
The reason MAY be as simple as "market has discounted slowing growth already" and is looking forward to better growth "six months out"........
Current slow growth MAY be a reflection of many "stimulus being phased out" worldwide & there is "interest rate being jacked UP" to contain inflation & hyper growth........
When markets do NOT go down on "bad news"...pay attention........
Market TAPE is giving a clear indication that it wants to go HIGHER.......
How HIGH is another debate.......
Based on the current TAPE.....i do see 1180 in the cards......
RSI is @ 59.08.....I can "visualize close to 80" in the current environment......
Many stocks are hitting 52 wk highs repeatedly...a sure sign of "growth in profit"
I also see PE expanding in this low inflationary environment..which means stock prices will be moving HIGHER.....
There are many ways to profit in this environment which are listed below :
-Buy only "momentum stocks"
-Buy a mix of "mostly momentum & few low PE stocks"
-Trade "different momentum stocks alternately"
I have a tendency to "concentrate/monitor max 20 stocks @ a time" and keep "rotating" in the above listed trading approach.......
I am "motivated by a simple philosophy of booking profit as we go along"
I am also highly concentrated in few stocks..works for me !!!!
In hindsight... this rapid trading style.....sometimes limit my profit.... BUT overall..it is a wise approach......
Here is my sector/$ allocation as of Friday's close :
RIMM 38.03% Tech/Smartphone
SNDK 33.39% Tech/Flash Memory
LVS 20.50% Casino Operator
JASO 8.08% Solar cell manufacturer
I try to stay diversified all the time even when theme may be technology...BUT there are many sub-sectors in techs....
Good luck in your OWN due diligence....your trading style is a reflection of your OWN comfort level & knowledge level...if it works to your satisfaction..no need to change.
BLOG does NOT give buy or sell.
Saleem
Saturday, August 7, 2010
Buy rated stocks.....
Following stocks are technically strong.Please do your OWN due diligence by checking FA/TA/TAPE.
JASO,FMCN,SDTH,WATG,MELI,CROX,
ABX,AUY,JOF,TSL,X,TC,PWRD,SEED,USU.
NANO,MGA,FWLT,ONNN,AKAM.
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
JASO,FMCN,SDTH,WATG,MELI,CROX,
ABX,AUY,JOF,TSL,X,TC,PWRD,SEED,USU.
NANO,MGA,FWLT,ONNN,AKAM.
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, August 6, 2010
Impressive turnaround after 1.30 PM in market....
Indices were sporting better than 1.50% loss...BUT buyers conviction brought a major turnaround from 1.30 PM right into close.......when the closing bell rang indices were down .20% to .37%......
This market is showing "unusual resiliency" even when many economic reports are coming in "below expectations"...Jobs report could have killed this rally as "articulated by many bears"..BUT market ignored this "major bad news" & turned around.....
VIX down 1.63% to close @ 21.74..lowest close in a while....
Stocks which were UP 2% or more included RIMM,MA,TSL,AUY,IAG,
CSIQ,LDK....
BY noon Saturday, i will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
This market is showing "unusual resiliency" even when many economic reports are coming in "below expectations"...Jobs report could have killed this rally as "articulated by many bears"..BUT market ignored this "major bad news" & turned around.....
VIX down 1.63% to close @ 21.74..lowest close in a while....
Stocks which were UP 2% or more included RIMM,MA,TSL,AUY,IAG,
CSIQ,LDK....
BY noon Saturday, i will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
1.38% to 1.48% decline in indices so far....
After Open dive....Indices were recovering nicely towards break even level... then HFT hit the sell button.....so down we went to 1.50% loss across the board........
So far low of the day in S&P 500 is 1107.17....as long as we hold 1100...then we are technically OK.....
Gold UP $9.80
Oil down $1.02
Canadian $ Down 1.12 cents to 97.30 as Canadian jobs report also was well below expectations ..lost 131K jobs
VIX UP 4.71% to 23.14
Portfolio is JASO,RIMM,LVS,SNDK......
Most stocks are down...
@ 12.40 following are green :
RIMM,JASO,TSL,BIDU,EGO,IAG,ABX,
SLW,CRUS,ASIA,SOHU,MA,V,PMCS,
X,GG,CSIQ,FMCN,JRCC,AEM,LDK,
SNE,FWLT.....
BLOG does NOT give buy or sell.
Saleem
So far low of the day in S&P 500 is 1107.17....as long as we hold 1100...then we are technically OK.....
Gold UP $9.80
Oil down $1.02
Canadian $ Down 1.12 cents to 97.30 as Canadian jobs report also was well below expectations ..lost 131K jobs
VIX UP 4.71% to 23.14
Portfolio is JASO,RIMM,LVS,SNDK......
Most stocks are down...
@ 12.40 following are green :
RIMM,JASO,TSL,BIDU,EGO,IAG,ABX,
SLW,CRUS,ASIA,SOHU,MA,V,PMCS,
X,GG,CSIQ,FMCN,JRCC,AEM,LDK,
SNE,FWLT.....
BLOG does NOT give buy or sell.
Saleem
Private Job growth of 71K vs expectations of 100K
Jobs report is below expectations but NOT a disaster.....
Headline expectations job loss of 65K ....actual job loss of 131K
Headline expectations of private job growth 100K...actual job growth of 71K
Unemployment rate expectations 9.6%...actual 9.5%
Overall below ..BUT market will focus on 71K job growth which is sequentially much better...
By close we should be more than OK......
BLOG does NOT give buy or sell.
Saleem
Headline expectations job loss of 65K ....actual job loss of 131K
Headline expectations of private job growth 100K...actual job growth of 71K
Unemployment rate expectations 9.6%...actual 9.5%
Overall below ..BUT market will focus on 71K job growth which is sequentially much better...
By close we should be more than OK......
BLOG does NOT give buy or sell.
Saleem
Thursday, August 5, 2010
Indices closed down less than .5% ahead of jobs report.....
Indices were down less than .5%.....
Internals were much weaker than close....
VIX Down .5% to 22.10
SO..it is all about..."mother of all reports...jobs report"
My guess is.... that jobs report will be better than consensus.....which should give market another "decisive leg UP"
Doug Kass is also "freaking out about US economy"......the trouble with many gurus are "they start to take themselves too seriously"..Doug Kass is trying to tell market what to do...has NOT worked for any pundit..from Joe Granville to Robert Prechter..all have failed miserably most of the time.....
US & World economy are all chugging along nicely @ slower pace ...market TAPE likes that pace....thus a worldwide strength in equities....which is not changing anytime soon......
I see a major short squeeze which will propel this market higher.....
AH Futures are mixed
AH Asian markets Down
AH Oil UP
AH Gold Down
BLOG does NOT give buy or sell.
Saleem
Internals were much weaker than close....
VIX Down .5% to 22.10
SO..it is all about..."mother of all reports...jobs report"
My guess is.... that jobs report will be better than consensus.....which should give market another "decisive leg UP"
Doug Kass is also "freaking out about US economy"......the trouble with many gurus are "they start to take themselves too seriously"..Doug Kass is trying to tell market what to do...has NOT worked for any pundit..from Joe Granville to Robert Prechter..all have failed miserably most of the time.....
US & World economy are all chugging along nicely @ slower pace ...market TAPE likes that pace....thus a worldwide strength in equities....which is not changing anytime soon......
I see a major short squeeze which will propel this market higher.....
AH Futures are mixed
AH Asian markets Down
AH Oil UP
AH Gold Down
BLOG does NOT give buy or sell.
Saleem
Indices pulling back ahead of Jobs report.....
Indices are pulling back ahead of Jobs report on Friday...
Today's jobless claims inched up against expectations of lower number....
Gold UP $3.30
Oil Down 60 cents
Canadian $ UP 23 tick @ 98.41 another high for 2010
In my portfolio :
Tripled my position in JASO @ $6.19
Portfolio is JASO,RIMM,LVS,SNDK.....
Most stocks are down.....
@ 1.09 following are green :
JASO,POT,YGE,TSL,LRCX,SOHU,CCJ,
M,IPI,AGU,IAG,CSIQ,CNQ,GNK,FMCN,
SINA,NDAQ,GAME,VLO,LDK....
BLOG does NOT give buy or sell.
Saleem
Today's jobless claims inched up against expectations of lower number....
Gold UP $3.30
Oil Down 60 cents
Canadian $ UP 23 tick @ 98.41 another high for 2010
In my portfolio :
Tripled my position in JASO @ $6.19
Portfolio is JASO,RIMM,LVS,SNDK.....
Most stocks are down.....
@ 1.09 following are green :
JASO,POT,YGE,TSL,LRCX,SOHU,CCJ,
M,IPI,AGU,IAG,CSIQ,CNQ,GNK,FMCN,
SINA,NDAQ,GAME,VLO,LDK....
BLOG does NOT give buy or sell.
Saleem
Wednesday, August 4, 2010
Higher highs for Dow & S&P 500...NICE !!!
Indices were UP .41% to .88%...Nasdaq being the strongest.....
Internals of the market were much stronger than closing numbers as listed below :
UP volume led by 2.24 to 1 in NYSE & 2.35 to 1 in Nasdaq
Advancing stocks led by 2.89 to 1 in NYSE & 1.99 to 1 in Nasdaq
New 52 wk highs expanded to 264 in NYSE & 48 in Nasdaq
RSI @ close were as follows :
Dow 64.45
S&P 500 61.70
Nasdaq 59.36
We MAY be looking @ minimum 70 RSI in this bull run......
VIX Down 1.86 to 22.21
Stocks which were UP 2% or more included SNDK,LVS,BIDU,EGO,
CRUS,VMW,GOOG,GS,MA,NDN,X,EXPE,M,IPI,POT,AGU,AMZN,
IAG,GG,JDSU,CIEN,FUQI......
In my portfolio :
Bought JASO @ $6.19
Portfolio is JASO,LVS,RIMM,SNDK......
AH Futures Down
AH Asia UP
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Internals of the market were much stronger than closing numbers as listed below :
UP volume led by 2.24 to 1 in NYSE & 2.35 to 1 in Nasdaq
Advancing stocks led by 2.89 to 1 in NYSE & 1.99 to 1 in Nasdaq
New 52 wk highs expanded to 264 in NYSE & 48 in Nasdaq
RSI @ close were as follows :
Dow 64.45
S&P 500 61.70
Nasdaq 59.36
We MAY be looking @ minimum 70 RSI in this bull run......
VIX Down 1.86 to 22.21
Stocks which were UP 2% or more included SNDK,LVS,BIDU,EGO,
CRUS,VMW,GOOG,GS,MA,NDN,X,EXPE,M,IPI,POT,AGU,AMZN,
IAG,GG,JDSU,CIEN,FUQI......
In my portfolio :
Bought JASO @ $6.19
Portfolio is JASO,LVS,RIMM,SNDK......
AH Futures Down
AH Asia UP
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Indices GREEN Again......NICE !!!!
Strong open then pullback & now uptrend is in tact...
All indices showing green..Nasdaq ready to take out recent highs @ 2307....
Gold UP $13.60
Oil UP 15 cents
Canadian $ UP 60 tick to 98.16..highest level in almost two years....
VIX down .71% @ 22.47..may hit 19 in this rally ???
In my portfolio :
Bought RIMM @ $53.61
Bought LVS @ $28.70
Added 50% more SNDK @ $45.66
Portfolio is RIMM,SNDK,LVS.....
Still more than 100% of normal invested....
Most stocks are UP
@ 12.31 following are down :
RIMM,CREE,TSL,YGE,BCSI,RVBD,
MRVL,BAC,LRCX,V,PMCS,GNK,
CSIQ,FMCN,CTRN,IGT,JRCC,
NYX,LDK,SNE,FWLT.....
BLOG does NOT give buy or sell.
Saleem
All indices showing green..Nasdaq ready to take out recent highs @ 2307....
Gold UP $13.60
Oil UP 15 cents
Canadian $ UP 60 tick to 98.16..highest level in almost two years....
VIX down .71% @ 22.47..may hit 19 in this rally ???
In my portfolio :
Bought RIMM @ $53.61
Bought LVS @ $28.70
Added 50% more SNDK @ $45.66
Portfolio is RIMM,SNDK,LVS.....
Still more than 100% of normal invested....
Most stocks are UP
@ 12.31 following are down :
RIMM,CREE,TSL,YGE,BCSI,RVBD,
MRVL,BAC,LRCX,V,PMCS,GNK,
CSIQ,FMCN,CTRN,IGT,JRCC,
NYX,LDK,SNE,FWLT.....
BLOG does NOT give buy or sell.
Saleem
Sold AAPL,BIDU & EGO...
I sold AAPL,BIDU,EGO...
Portfolio SNDK.....
BLOG does NOT give buy or sell.
Saleem
Portfolio SNDK.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 3, 2010
.36% to .52% loss @ close.....
Headline closing numbers for indices are misleading as internals were way weaker than close as listed below :
Down volume led by 2.40 to 1 in NYSE & 2.66 to 1 in Nasdaq
Declining stocks led by 1.54 to 1 in NYSE & 1.82 to 1 in Nasdaq
Today's decline is part of a bull run which MAY have more room to run.....
VIX moved UP 2.82% to 22.63
In my portfolio :
Sold BCSI
Sold LRCX
Bought SNDK @ $44.97
Portfolio is AAPL,BIDU,EGO,SNDK......
Strong stocks which were UP 2% or more included EGO,ASIA,CSIQ,SOLF,
IAG,FNSR.....
AH PCLN ER was strong stock UP $36.93 in AH volume of 1.09 million shares....
AH Futures UP
AH Asian market Down
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Down volume led by 2.40 to 1 in NYSE & 2.66 to 1 in Nasdaq
Declining stocks led by 1.54 to 1 in NYSE & 1.82 to 1 in Nasdaq
Today's decline is part of a bull run which MAY have more room to run.....
VIX moved UP 2.82% to 22.63
In my portfolio :
Sold BCSI
Sold LRCX
Bought SNDK @ $44.97
Portfolio is AAPL,BIDU,EGO,SNDK......
Strong stocks which were UP 2% or more included EGO,ASIA,CSIQ,SOLF,
IAG,FNSR.....
AH PCLN ER was strong stock UP $36.93 in AH volume of 1.09 million shares....
AH Futures UP
AH Asian market Down
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
.28% to .44% pullback after huge gain........
Indices are digesting gains from yesterday.....this is a normal TAPE....
Gold UP $5.10
Oil UP 98 cents
Canadian $ Unchanged @ 97.71...highest level in 2010
In my portfolio :
Sold SOLF
Added 40% BCSI @ $21.95
Portfolio is AAPL,BIDU,BCSI,EGO,LRCX.....
@ 12.36 following are green :
EGO,BCSI,SLW,ABX,AMZN,SOLF,
TSL,CSIQ,ASIA,IBN,V,X,IAG,AUY,
SINA,SNDA,WYNN,AEM,VLO,
FSLR,LDK,VAR.....
BLOG does NOT give buy or sell.
Saleem
Gold UP $5.10
Oil UP 98 cents
Canadian $ Unchanged @ 97.71...highest level in 2010
In my portfolio :
Sold SOLF
Added 40% BCSI @ $21.95
Portfolio is AAPL,BIDU,BCSI,EGO,LRCX.....
@ 12.36 following are green :
EGO,BCSI,SLW,ABX,AMZN,SOLF,
TSL,CSIQ,ASIA,IBN,V,X,IAG,AUY,
SINA,SNDA,WYNN,AEM,VLO,
FSLR,LDK,VAR.....
BLOG does NOT give buy or sell.
Saleem
SOLF beats & guides UP...NICE !!!
SOLF Q2 ER was a beat on Sales & EPS ..also guiding higher than consensus for the year....
Sales actual $258.5 million consensus was $212.80 million
EPS actual 69 cents consensus was 25 cents a beat by 44 cents or 176%
Guidance raised to 750 MW from 650 MW
SOLF UP $1.42 in pre-market or 13.85%
BLOG does NOT give buy or sell.
Saleem
Sales actual $258.5 million consensus was $212.80 million
EPS actual 69 cents consensus was 25 cents a beat by 44 cents or 176%
Guidance raised to 750 MW from 650 MW
SOLF UP $1.42 in pre-market or 13.85%
BLOG does NOT give buy or sell.
Saleem
Monday, August 2, 2010
1.80% to 2.2% gain in Indices....NICE !!!
Indices staged a very impressive technical run into recent highs.....S&P 500 & DOW are in new "recent" highs..Nasdaq only 13 points away from recent high of 2307.60.....
Internals were strong in NYSE but not as strong in Nasdaq.....
Technical Guru of Oppenheimer Carter Braxton Worth does not see any further gains in indices based on his analysis of 150 day MA......
RSI in indices are as follows :
Nasdaq 58.83
S&P 500 62.07
Dow 65.10
Based on the tape today...we MAY hit 70 this time around before profit taking .....
VIX Down 6.34% to 22.01....we MAY hit 19+ this time....
Strong stocks which were UP 3% or more included BIDU,SOLF,SNDK,CREE,
LVS,ASIA,IBN,CCJ,X,GNK,TCK,SOL......
AH Futures Down
AH Asian market UP
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
Internals were strong in NYSE but not as strong in Nasdaq.....
Technical Guru of Oppenheimer Carter Braxton Worth does not see any further gains in indices based on his analysis of 150 day MA......
RSI in indices are as follows :
Nasdaq 58.83
S&P 500 62.07
Dow 65.10
Based on the tape today...we MAY hit 70 this time around before profit taking .....
VIX Down 6.34% to 22.01....we MAY hit 19+ this time....
Strong stocks which were UP 3% or more included BIDU,SOLF,SNDK,CREE,
LVS,ASIA,IBN,CCJ,X,GNK,TCK,SOL......
AH Futures Down
AH Asian market UP
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
Higher highs in S&P 500 & Dow......NICE !!!!
Indices are breaking out with "higher highs" in Dow & S&P 500..Nasdaq to follow.....
Gold Down 90 cents
Oil UP $2.36
Canadian $ UP 31 tick to 97.68...highest level this year
VIX Down 4.3% @ 22.49
In my portfolio :
Bought AAPL @ $260.10
Portfolio is AAPL,BIDU(New all time HIGH),BCSI,EGO,LRCX,SOLF.....
I am way more than 100% of my normal exposure in market......
SOLF reports before open Tuesday CC @ 8.00 AM..expect a beat & guide UP.
Most stocks are UP...
@ 12.52 following are Down :
EGO,ABX,RIMM,MA,V,GG,IAG,
AEM,FUQI,VAR.....
BLOG does NOT give buy or sell.
Saleem
Gold Down 90 cents
Oil UP $2.36
Canadian $ UP 31 tick to 97.68...highest level this year
VIX Down 4.3% @ 22.49
In my portfolio :
Bought AAPL @ $260.10
Portfolio is AAPL,BIDU(New all time HIGH),BCSI,EGO,LRCX,SOLF.....
I am way more than 100% of my normal exposure in market......
SOLF reports before open Tuesday CC @ 8.00 AM..expect a beat & guide UP.
Most stocks are UP...
@ 12.52 following are Down :
EGO,ABX,RIMM,MA,V,GG,IAG,
AEM,FUQI,VAR.....
BLOG does NOT give buy or sell.
Saleem
Sunday, August 1, 2010
Why S&P 500 is making higher lows ????
If you look @ S&P 500 chart since March 2010 an interesting picture is developing.....
-First we hit 1219.80 in 2nd week in April....then flash crash LOW of 1065.79 in 1st week May
-Then we went UP to 1173.67 in 2nd week of May....then went DOWN to 1040.78 in 3rd week of May...
-Then went UP to 1105.67 in 1st week of June....then went DOWN to 1142.17 in 2nd week of June
-Then we went UP to 1131.23 in 3rd week of June....then Down again to 1010.91 in 1st week of July
-Then we went UP to 1099.46 in 2nd week of July....then Down again to 1056.88 in 3rd week of July
-Then we went UP to 1120.95 in 4th week of July....then Down again to 1088.01 by Friday the 30th of July......
IF...we look @ the chart it becomes clear that there was a well defined "downtrend" since 2nd week of April HIGH of 1219.80 which culminated @ 1010.91 in 1st week of July.....this downtrend lasted 14 weeks......We lost 208.89 points or 17.12%...a very steep decline....
Since 1st week of July Low of 1010.91...we have made "higher lows" of 1056.88 & 1088.01.....this "ascending" higher lows in last 4 weeks is extremely encouraging......
Last Friday...as you all recall...I was NOT sure about the near term direction of market.....So...I sold 60% of my position by locking profit in all my trades & had VXX in my portfolio.....
Logic for that "anticipatory" move was that we have come a long way to 1102.66 from 1010 low only 3 weeks ago ...a hefty gain of 92 S&P points or 9.1% gain in 3 short weeks.......
It is important @ certain stage of market to lock all the gains when we are getting "frothy".....as we can lose all the profit in a hurry IF market turns.......which it does repeatedly..as illustrated in the above example....
Too many traders are fixated on "euphoria" instead of locking gains......
Markets go UP & markets go DOWN.........IF you are constantly riding it UP & DOWN & not locking profit......then you are not getting ahead... a lesson I have learned "repeatedly"....
SO.....the bottom line is ....purpose of being in the market is to make money...you do not have profit unless you sell....
Now that we have found another support around 1088 area....there is a very good chance that S&P 500 will go higher than recent high of 1131.23 in 3rd week of June......
The question IS...how high can we go in S&P 500.......????
Based on the quality of earnings & guidance given by strong companies...it MAY not be far fetched to expect 1160 to 1170 in S&P 500 in this run......this scenario has a potential of +69 points or +6.27%...pretty good in short term.....
It is important to buy stocks which are strong in their sector based on recent TAPE action....bargains/weaker stocks must be avoided......being diversified in strong sectors is highly prudent......
Yes.....markets remains choppy BUT trend is UP.
Currently I am 90% invested & may add more on Monday.
My portfolio is BIDU,BCSI,EGO,LRCX,SOLF......
Good luck in your OWN due diligence & comfort level.
BLOG does NOT give buy or sell.
Saleem
-First we hit 1219.80 in 2nd week in April....then flash crash LOW of 1065.79 in 1st week May
-Then we went UP to 1173.67 in 2nd week of May....then went DOWN to 1040.78 in 3rd week of May...
-Then went UP to 1105.67 in 1st week of June....then went DOWN to 1142.17 in 2nd week of June
-Then we went UP to 1131.23 in 3rd week of June....then Down again to 1010.91 in 1st week of July
-Then we went UP to 1099.46 in 2nd week of July....then Down again to 1056.88 in 3rd week of July
-Then we went UP to 1120.95 in 4th week of July....then Down again to 1088.01 by Friday the 30th of July......
IF...we look @ the chart it becomes clear that there was a well defined "downtrend" since 2nd week of April HIGH of 1219.80 which culminated @ 1010.91 in 1st week of July.....this downtrend lasted 14 weeks......We lost 208.89 points or 17.12%...a very steep decline....
Since 1st week of July Low of 1010.91...we have made "higher lows" of 1056.88 & 1088.01.....this "ascending" higher lows in last 4 weeks is extremely encouraging......
Last Friday...as you all recall...I was NOT sure about the near term direction of market.....So...I sold 60% of my position by locking profit in all my trades & had VXX in my portfolio.....
Logic for that "anticipatory" move was that we have come a long way to 1102.66 from 1010 low only 3 weeks ago ...a hefty gain of 92 S&P points or 9.1% gain in 3 short weeks.......
It is important @ certain stage of market to lock all the gains when we are getting "frothy".....as we can lose all the profit in a hurry IF market turns.......which it does repeatedly..as illustrated in the above example....
Too many traders are fixated on "euphoria" instead of locking gains......
Markets go UP & markets go DOWN.........IF you are constantly riding it UP & DOWN & not locking profit......then you are not getting ahead... a lesson I have learned "repeatedly"....
SO.....the bottom line is ....purpose of being in the market is to make money...you do not have profit unless you sell....
Now that we have found another support around 1088 area....there is a very good chance that S&P 500 will go higher than recent high of 1131.23 in 3rd week of June......
The question IS...how high can we go in S&P 500.......????
Based on the quality of earnings & guidance given by strong companies...it MAY not be far fetched to expect 1160 to 1170 in S&P 500 in this run......this scenario has a potential of +69 points or +6.27%...pretty good in short term.....
It is important to buy stocks which are strong in their sector based on recent TAPE action....bargains/weaker stocks must be avoided......being diversified in strong sectors is highly prudent......
Yes.....markets remains choppy BUT trend is UP.
Currently I am 90% invested & may add more on Monday.
My portfolio is BIDU,BCSI,EGO,LRCX,SOLF......
Good luck in your OWN due diligence & comfort level.
BLOG does NOT give buy or sell.
Saleem
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