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
4 comments:
Saleem,
Is RIMM a "BUY" at this price? Thanks.
Michael
Hi Michael,
RIMM business model is under "severe pressure"..see analyst note today from Bernstein..his target about $40 US.
In this market you should stay with "strong stocks".....
Saleem
Saleem,
Thanks for your input. It is unpredictable market, so one day a "strong stock" may be next day "weak stock." It is tough to invest. I have VMW at $79, FCX at $70, and BIDU at $78. However, I am looking for some bargain stocks to build my portfolio for a longer term.
Michael
Hi Michael,
Bargain stocks are differenr from weak stocks......
SOLF,SOL,TSL are bargain stocks..good fundamental excellent earnings BUT selling @ low PE....
Weak stocks are like RIMM,SNDK whose business model are shaky "going forward"
Good luck with your selection.
Saleem
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