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
2 comments:
Saleem,
This market is for experience traders who can move in and out quickly. It is tough. I am 50% invested now and wait for better tape. Option week will add in more volatile to the market. Thanks for your blog.
What's going on with RIMM? Did it move down because of "SELL" rating from Citi?
Michael
Hi Michael,
Market TAPE is tough for everybody...the only difference is that I MAY have more patience after doing my DD.
Citi & GS had sell on RIMM since last ER....
I have a feeling that GS is accumulating RIMM on this HFT generated weakness for an upgrade later...so i stay put until tide turns.
Saleem
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