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
6 comments:
SALEEM
Good Call on LVS
Las Vegas Sands (LVS), Wynn Resorts (WYNN): "My gosh! That's the best stock in the bunch! I was going through the charts. LVS is one of the best stocks in the book. Why? Because it is levered to China, it is levered to Asian gambling. That means you can hold onto it. However, I think that, if you sell it and buy Wynn Resorts, you're even standing up to the best of breed. But congratulations. LVS... literally when I was going through the charts... I could not believe how great it was."
The very best to all
M
Hi Madmax,
Thanks for your note.
LVS is all set for breakout @ $29.53 with a target of $32.49 as per www.stockconsultant.com
Saleem
Saleem,
I want to start a position in RIMM. It is unbelievable cheap. Is it a good buy from here or it is still on the way down? Thanks.
Michael
Hi Michael,
I added 80% more RIMM today....
Yes..it looks washed out already.
Go for it.
Saleem
Saleem,
Thanks for your comment. In at $49.9. Good news from India will push RIMM at least $3.
Michael
Looks like you know nothing about reading charts. Basic Basic is markets trend and always zig-zag, always. One counter trend bounce does not change the trend.
A dead cat bounce is not a new bull market.
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