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
4 comments:
Saleem,
Thanks for the information on IAG. I followed you on EGO and got a decent profit. I picked up some IAG before ER and will hold it as well.
Hope market will hold.
Michael
Hi Michael,
Gold should be the biggest beneficiary based on "seasonality" & "economic uncertainty"
I am overweight gold now !!!!
Saleem
Saleem,
Cisco ER did not help the market. We may have the bloodbath tomorrow.
Michael
Hi Michael,
CSCO is known for reporting a penny beat @ best & lackluster Sales growth....
CSCO weakness should be overcome by close Thursday.....
Today was nothing but a correction in overbought market....
Saleem
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