Chinese PMI index came @ 53.8 for September vs 51.7 last month....consensus was 52.0...
This will give another lift to markets everywhere......
Great news for those who are long this market!!!!!
BLOG does NOT give buy or sell.
Saleem
Thursday, September 30, 2010
S&P 500 closed @ 1141.20.....
S&P 500 had a wild ride UP to 1157.16 & then slumped to 1136.08 only to close @ 1141.20.....
Today volume was highest in a long time for a Thursday.....which meant that lot of HF were booking profit & selling into opening rally.....
Market has gone UP the most of any September in history...so I along with many were positioned to sell into strong open...except for one sell of CRUS rest were booking gains..I am glad that i sold when everything was green or else i would have looked @ loss in most of my position.....
RSI of S&P 500 is @ 60.68...which is in neutral zone..BUT any dip will be a buying opportunity..
I do not believe that we are going into a "serious loss in October" BUT it could be choppy in next two weeks then good earning reports will give a lift.....
Many stocks are outperforming market averages..so it may not be a bad idea to stay put in strong sectors .....
My current portfolio is LVS,SNDK & VMW......
I am always looking for trading opportunity both long & short......
China PMI which comes tonight will set the tone for markets worldwide......i delayed my post to include those numbers but they are still not out......
AH Futures are Mixed ahead of Chinese PMI numbers...
AH Asian markets are Mixed
AH Gold Down
AH Oil UP
BLOG does NOT give buy or sell.
Saleem
Today volume was highest in a long time for a Thursday.....which meant that lot of HF were booking profit & selling into opening rally.....
Market has gone UP the most of any September in history...so I along with many were positioned to sell into strong open...except for one sell of CRUS rest were booking gains..I am glad that i sold when everything was green or else i would have looked @ loss in most of my position.....
RSI of S&P 500 is @ 60.68...which is in neutral zone..BUT any dip will be a buying opportunity..
I do not believe that we are going into a "serious loss in October" BUT it could be choppy in next two weeks then good earning reports will give a lift.....
Many stocks are outperforming market averages..so it may not be a bad idea to stay put in strong sectors .....
My current portfolio is LVS,SNDK & VMW......
I am always looking for trading opportunity both long & short......
China PMI which comes tonight will set the tone for markets worldwide......i delayed my post to include those numbers but they are still not out......
AH Futures are Mixed ahead of Chinese PMI numbers...
AH Asian markets are Mixed
AH Gold Down
AH Oil UP
BLOG does NOT give buy or sell.
Saleem
S&P 500 jumped to 1157.16 then pulled back...
All economic news was better than expected.....
S&P 500 went to a new recent high of 1157.16 then retraced to to 1136.08..now its fighting back ...
YES..we were oversold BUT current RSI is only 58.53 which is below overbought....
Gold Down $7
Oil UP 79 cents
Canadian $ UP 27 tick to 97.11
In my portfolio :
Sold AAPL
Sold AMZN
Sold BIDU
Sold CRUS
Bought LVS @ $34.51
Portfolio is SNDK,VMW,LVS....
Most stocks are down
BLOG does NOT give buy or sell.
Saleem
S&P 500 went to a new recent high of 1157.16 then retraced to to 1136.08..now its fighting back ...
YES..we were oversold BUT current RSI is only 58.53 which is below overbought....
Gold Down $7
Oil UP 79 cents
Canadian $ UP 27 tick to 97.11
In my portfolio :
Sold AAPL
Sold AMZN
Sold BIDU
Sold CRUS
Bought LVS @ $34.51
Portfolio is SNDK,VMW,LVS....
Most stocks are down
BLOG does NOT give buy or sell.
Saleem
Wednesday, September 29, 2010
Minor pullback @ close....
Indices took a break after reaching new height yesterday....
Internals were mixed...
Thursday is end of the month..I am expecting strong TAPE....
Stocks which were UP 4% or more included SNDK, CRUS,TSL,
YGE,FNSR,JDSU,STP,FUQI......
AH Futures Mixed
AH Asian markets Down
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Internals were mixed...
Thursday is end of the month..I am expecting strong TAPE....
Stocks which were UP 4% or more included SNDK, CRUS,TSL,
YGE,FNSR,JDSU,STP,FUQI......
AH Futures Mixed
AH Asian markets Down
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Market indulging in month-end buying.....
Market is getting month-end buying which MAY continue until Monday......
Gold UP $3.60
Oil UP $1.50
Canadian $ UP 7 tick to 97.10
In my portfolio :
Bought AMZN @ $160.40
Bought CRUS @ $18.86
Portfolio is AAPL,AMZN,BIDU,CRUS,SNDK,VMW......
Most stocks are green.....with solar on fire !!!!
@ 12.45 following are RED :
AMZN,LVS,WYNN,PCLN,KGC,POT,GS,
IBN,SOHU,MA,GG,AGU,ASIA,BRCD,TCK,ICE,
AEM,ISRG.....
BLOG does NOT give buy or sell.
Saleem
Gold UP $3.60
Oil UP $1.50
Canadian $ UP 7 tick to 97.10
In my portfolio :
Bought AMZN @ $160.40
Bought CRUS @ $18.86
Portfolio is AAPL,AMZN,BIDU,CRUS,SNDK,VMW......
Most stocks are green.....with solar on fire !!!!
@ 12.45 following are RED :
AMZN,LVS,WYNN,PCLN,KGC,POT,GS,
IBN,SOHU,MA,GG,AGU,ASIA,BRCD,TCK,ICE,
AEM,ISRG.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, September 28, 2010
S&P 500 went to new high of 1150 today...NICE !!!
S&P 500 went to 1150 which is a new recent high....
S&P 500 closed @ 1147.70 on high volume....
RSI is @ 64.28.....
Stocks that were UP 1% or more included RVBD,TSL,LVS,EGO,KGC,
IBN,AGU,YGE,M,PCLN,GG,X,CREE,CNQ,AMCC,FNSR,JASO,NVLS....
In my portfolio :
Bought VMW @ $87.35
Portfolio is AAPL,BIDU,SNDK,VMW......
AH Futures Mixed
AH Asian markets UP
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1147.70 on high volume....
RSI is @ 64.28.....
Stocks that were UP 1% or more included RVBD,TSL,LVS,EGO,KGC,
IBN,AGU,YGE,M,PCLN,GG,X,CREE,CNQ,AMCC,FNSR,JASO,NVLS....
In my portfolio :
Bought VMW @ $87.35
Portfolio is AAPL,BIDU,SNDK,VMW......
AH Futures Mixed
AH Asian markets UP
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
All Indices GREEN.....NICE !!!!
S&P 500 went down to 1132.09 just above breakout level of 1130 area...this was a very quick test of support...
Market had another mini "flash crash" this morning when all front line stocks tanked on AAPL rumour of their COO leaving for HPQ....
That slump gave me the chance to close my AAPL & BIDU short within 24 hours ......
Gold UP $9.30
Oil UP 12 cents
Canadian $ Down 12 tick to 96.92
Portfolio is long AAPL,BIDU & SNDK......
Stocks are Mixed....
@ 12.32 following are green :
RVBD,TSL,PCLN,VMW,EGO,KGC,
IBN,V,CREE,X,FMCN,CTRN,LULU,
AEM,FSLR,FWLT.....
BLOG does NOT give buy or sell.
Saleem
Market had another mini "flash crash" this morning when all front line stocks tanked on AAPL rumour of their COO leaving for HPQ....
That slump gave me the chance to close my AAPL & BIDU short within 24 hours ......
Gold UP $9.30
Oil UP 12 cents
Canadian $ Down 12 tick to 96.92
Portfolio is long AAPL,BIDU & SNDK......
Stocks are Mixed....
@ 12.32 following are green :
RVBD,TSL,PCLN,VMW,EGO,KGC,
IBN,V,CREE,X,FMCN,CTRN,LULU,
AEM,FSLR,FWLT.....
BLOG does NOT give buy or sell.
Saleem
Covered AAPL & BIDU Short & went long BIDU...
WOW..what a gift from Wall Street on my shorts
Covered AAPL Short
Covered BIDU short
Long BIDU @ $100
BLOG does NOT give buy or sell.
Saleem
Covered AAPL Short
Covered BIDU short
Long BIDU @ $100
BLOG does NOT give buy or sell.
Saleem
Monday, September 27, 2010
All indices closed almost near low of the day......
Indices took a tumble after 3 PM and closed fractions above low of the day.....not a good technical picture....
S&P 500 closed @ 1142.16..RSI stood @ 62.59
Internals of the market were negative....
Stocks which ended UP 1% or more included BIDU,LVS,JKS,CRUS,
TCK,SOLF....
AH Futures UP
AH Asian markets Mixed
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1142.16..RSI stood @ 62.59
Internals of the market were negative....
Stocks which ended UP 1% or more included BIDU,LVS,JKS,CRUS,
TCK,SOLF....
AH Futures UP
AH Asian markets Mixed
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Indices down .23% to .36% after huge run.....
Indices are taking a breather after huge run.....
Gold UP 30 cents
Oil Down 46 cents
Canadian $ Down 19 tick to 97.43
In my portfolio :
Sold TSL
Sold RVBD
Went short on BIDU @ $102.28
Went short on AAPL @ $293.20
These positions are max 2 trading days or daytrade....
Most stocks are green....
@ 1.04 following are showing weakness :
TSL,RVBD,SOL,PCLN,AMZN,YGE,SOHU,
IBN,ISRG,CREE,KGC,SINA,CTRN,BRCD,
NDAQ,NYX,FUQI,ABX,GS,VAR,FWLT....
BLOG does NOT give buy or sell.
Saleem
Gold UP 30 cents
Oil Down 46 cents
Canadian $ Down 19 tick to 97.43
In my portfolio :
Sold TSL
Sold RVBD
Went short on BIDU @ $102.28
Went short on AAPL @ $293.20
These positions are max 2 trading days or daytrade....
Most stocks are green....
@ 1.04 following are showing weakness :
TSL,RVBD,SOL,PCLN,AMZN,YGE,SOHU,
IBN,ISRG,CREE,KGC,SINA,CTRN,BRCD,
NDAQ,NYX,FUQI,ABX,GS,VAR,FWLT....
BLOG does NOT give buy or sell.
Saleem
Sunday, September 26, 2010
S&P 500 has moved UP 10.38% so far in four weeks....
This has been a stunning run in S&P 500...we were @ 1040 end of August but by 24th of Sep we are @ 1148.67 a gain of 108 S&P 500 points or +10.38%.....
Is it too far too fast ?
It all depends on your view of upcoming economic data from US & around the world......
RSI is @ 65.99...which is NOT high when it comes to major rallies.....where we have touched 80 back in April.....
We may still have some more "firepower" left in this rally...like Monday is typically a strong inflow day PLUS we have end of the month window dressing......all in the next four days of trading....
S&P 500 have a very good chance of going to 1166 area before "running out of steam"......
No rally goes straight UP as we know from history...
Until Wednesday of last week S&P 500 had a 19 day streak of without back to back down days..whenever we have this kind of "straight UP"..we generally lose steam ......
Also S&P 500 had the biggest gain in Sep since 1939........
All of the above "superlatives" calls for extreme caution going forward....
It is always wise to book gains than risk of losing some or most of it......
October is known for "volatility"......
In October we will get Q3 earnings reports....some techs have already warned like INTC,AMD,PMCS.....steel companies have also warned.......
SO..October may not be as rosy ...so stay nimble.....
Currently bulls are 45%...which is not a euphoric number but may go higher once we finish September.....BUT we have gone from low of 21% bulls in late August to high of 50% previous week...
Currently, I am only 20% invested as of Friday & may liquidate the rest by Thursday....
My October strategy is to enter short position which i may liquidate same day..as markets may be unpredictable going forward.....
I am expecting "high volatility" in October.......
My current portfolio is TSL & RVBD.....
Good luck in your OWN interpretation of market TAPE, as I am proven wrong by market many times.
BLOG does NOT give buy or sell.
Saleem
Is it too far too fast ?
It all depends on your view of upcoming economic data from US & around the world......
RSI is @ 65.99...which is NOT high when it comes to major rallies.....where we have touched 80 back in April.....
We may still have some more "firepower" left in this rally...like Monday is typically a strong inflow day PLUS we have end of the month window dressing......all in the next four days of trading....
S&P 500 have a very good chance of going to 1166 area before "running out of steam"......
No rally goes straight UP as we know from history...
Until Wednesday of last week S&P 500 had a 19 day streak of without back to back down days..whenever we have this kind of "straight UP"..we generally lose steam ......
Also S&P 500 had the biggest gain in Sep since 1939........
All of the above "superlatives" calls for extreme caution going forward....
It is always wise to book gains than risk of losing some or most of it......
October is known for "volatility"......
In October we will get Q3 earnings reports....some techs have already warned like INTC,AMD,PMCS.....steel companies have also warned.......
SO..October may not be as rosy ...so stay nimble.....
Currently bulls are 45%...which is not a euphoric number but may go higher once we finish September.....BUT we have gone from low of 21% bulls in late August to high of 50% previous week...
Currently, I am only 20% invested as of Friday & may liquidate the rest by Thursday....
My October strategy is to enter short position which i may liquidate same day..as markets may be unpredictable going forward.....
I am expecting "high volatility" in October.......
My current portfolio is TSL & RVBD.....
Good luck in your OWN interpretation of market TAPE, as I am proven wrong by market many times.
BLOG does NOT give buy or sell.
Saleem
Saturday, September 25, 2010
Most undervalued buys.....
Following stocks are "most undervalued" based on stock performance.Please do your OWN due diligence by checking FA/TA/TAPE.
C,BAC,GS,MS,BX,JPM,V,
MRVL,CIEN,CY,CREE,CRUS,
CNQ,ECA,SU,JDSU,STP,SNDK...
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
C,BAC,GS,MS,BX,JPM,V,
MRVL,CIEN,CY,CREE,CRUS,
CNQ,ECA,SU,JDSU,STP,SNDK...
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, September 24, 2010
S&P 500 "highest close" in this rally...NICE !!!!
S&P 500 closed @ 1148.67 which is the highest close since 1040 support .....
All indices closed near high of the day.......
Most sector participated in this rally which is technically significant.....
By Saturday noon i will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
All indices closed near high of the day.......
Most sector participated in this rally which is technically significant.....
By Saturday noon i will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Indices UP almost 2%....NICE !!!!
Indices recouped all the loss from yesterday & then some.....
S&P 500 looking @ previous high of 1148.59 but have not crossed it yet.....
Gold UP $1.30
Oil UP $1.11
Canadian $ UP 69 tick @ 97.35
VIX Down 8.21% @ 21.91
In my portfolio :
Sold AAPL
Sold LVS
Portfolio is TSL & RVBD
Most stocks are UP
BLOG does NOT give buy or sell.
Saleem
S&P 500 looking @ previous high of 1148.59 but have not crossed it yet.....
Gold UP $1.30
Oil UP $1.11
Canadian $ UP 69 tick @ 97.35
VIX Down 8.21% @ 21.91
In my portfolio :
Sold AAPL
Sold LVS
Portfolio is TSL & RVBD
Most stocks are UP
BLOG does NOT give buy or sell.
Saleem
Thursday, September 23, 2010
Indices closed down .32% to .83%......
Indices were under selling pressure again after 2 PM closing near lows of the day....
S&P 500 is down 3 days in a row...
Internals were negative 3 days in a row also...
S&P 500 is down 2.25% from high of 1148.59
S&P 500 still above 200 DMA of 1116.77.....closed today @ 1124.83...
SO..why did we go down today...only reason i can think of that HFT took advantage of low volume today & pressed indices lower.....also we were overbought.....
RSI has come down from 68 area to 58.30..which may bring buyers on Friday......
Many stocks closed green including AAPL,RVBD,TSL,BIDU,AMZN,SOHU,
MA,V,M,CREE,CIEN,STP,NVLS.....
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
S&P 500 is down 3 days in a row...
Internals were negative 3 days in a row also...
S&P 500 is down 2.25% from high of 1148.59
S&P 500 still above 200 DMA of 1116.77.....closed today @ 1124.83...
SO..why did we go down today...only reason i can think of that HFT took advantage of low volume today & pressed indices lower.....also we were overbought.....
RSI has come down from 68 area to 58.30..which may bring buyers on Friday......
Many stocks closed green including AAPL,RVBD,TSL,BIDU,AMZN,SOHU,
MA,V,M,CREE,CIEN,STP,NVLS.....
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Indices are fighting for green.....NICE !!!!
All indices are green fighting weaker jobless claims number.... Dow & Nasdaq green S&P 500 to follow soon...
Indices are poised to "resume" their uptrend.....
Gold UP $3.18
Oil UP 18 cents
Canadian $ Down 3 tick to 97.01
In my portfolio :
Doubled my position in RVBD @ $42.30
Bought TSL @ $26.77
Portfolio is AAPL,RVBD,LVS,TSL......
Most stocks are UP....
@ 12.40 following are RED :
TCK,SOL,EGO, WYNN,POT,JKS,SOLF,
AGU,IBN,ISRG,X,CNQ,FWLT,YGE....
BLOG does NOT give buy or sell.
Saleem
Indices are poised to "resume" their uptrend.....
Gold UP $3.18
Oil UP 18 cents
Canadian $ Down 3 tick to 97.01
In my portfolio :
Doubled my position in RVBD @ $42.30
Bought TSL @ $26.77
Portfolio is AAPL,RVBD,LVS,TSL......
Most stocks are UP....
@ 12.40 following are RED :
TCK,SOL,EGO, WYNN,POT,JKS,SOLF,
AGU,IBN,ISRG,X,CNQ,FWLT,YGE....
BLOG does NOT give buy or sell.
Saleem
Wednesday, September 22, 2010
Some indices had 2nd day of loss......
S&P 500 closed lower two days in a row but still closed above support of 1130 area.....
Internals of market were decidedly negative two days in a row.....
There is a very good chance that we may see green @ close on Thursday...
Stocks which bucked the trend & moved UP 1% or more included AAPL,LVS,
AGU,TSL,SLW,TCK,SOL,STP...
AH Futures Mixed
AH Asian markets Mixed
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Internals of market were decidedly negative two days in a row.....
There is a very good chance that we may see green @ close on Thursday...
Stocks which bucked the trend & moved UP 1% or more included AAPL,LVS,
AGU,TSL,SLW,TCK,SOL,STP...
AH Futures Mixed
AH Asian markets Mixed
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Indices marking time before turning UP again.....
Indices are catching its breath after huge run up......S&P 500 went down to 1131.84 just above previous resistance which may become support.....
Gold UP $16.10
Oil Down 75 cents
Canadian $ Down 68 tick to 96.79..retail sales were weaker than expectations in Canada....
Portfolio is AAPL,LVS,RVBD.....
Most stocks are UP.....
@ 12.29 following are RED :
RVBD,PCLN,VMW,WYNN,GS,POT,
CMQ,JKS,SOLF,CRUS,ISRG,SOHU,
X,CREE,SINA,ECA,LULU,CTRN,IGT,
NTES,MFC,NYX,VLO,FSLR,SNE,FWLT...
BLOG does NOT give buy or sell.
Saleem
Gold UP $16.10
Oil Down 75 cents
Canadian $ Down 68 tick to 96.79..retail sales were weaker than expectations in Canada....
Portfolio is AAPL,LVS,RVBD.....
Most stocks are UP.....
@ 12.29 following are RED :
RVBD,PCLN,VMW,WYNN,GS,POT,
CMQ,JKS,SOLF,CRUS,ISRG,SOHU,
X,CREE,SINA,ECA,LULU,CTRN,IGT,
NTES,MFC,NYX,VLO,FSLR,SNE,FWLT...
BLOG does NOT give buy or sell.
Saleem
Tuesday, September 21, 2010
Higher highs AGAIN.....NICE !!!!
Indices raced to higher highs before profit taking took hold..@ close Dow was green other indices lost barely .28%....this is significant because pullback was pretty mild considering we had a major run in all indices..it was nice to see that S&P 500 went to 1148.59 while closing @ 1139.78....
RSI in S&P 500 is @ 66.87.....
Internals were negative as heavy selling took hold...
AH Futures UP
AH Asian market Mixed
Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
RSI in S&P 500 is @ 66.87.....
Internals were negative as heavy selling took hold...
AH Futures UP
AH Asian market Mixed
Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
Indices on hold till 2.15 Fed decision & statement..
Indices are on hold till 2.15 PM when Fed will make a "non-announcement"...no change in tone is expected by me......
S&P is giving up 3 points of its huge gain from yesterday......
I am expecting this rally to push through into higher highs in this run up.....
Gold Down $3.20
Oil Down $1.92
Canadian $ Down 7 tick to 97.02
Portfolio is AAPL,RVBD,LVS..
Most stocks are down.....
@ 12.32 following are UP :
AAPL,BIDU,GOOG,SOLF,SOL,JKS,
AMZN,YGE,SOHU,ISRG,GS,SINA,
FUQI,FSLR,LDK,VAR....
BLOG does NOT give buy or sell.
Saleem
S&P is giving up 3 points of its huge gain from yesterday......
I am expecting this rally to push through into higher highs in this run up.....
Gold Down $3.20
Oil Down $1.92
Canadian $ Down 7 tick to 97.02
Portfolio is AAPL,RVBD,LVS..
Most stocks are down.....
@ 12.32 following are UP :
AAPL,BIDU,GOOG,SOLF,SOL,JKS,
AMZN,YGE,SOHU,ISRG,GS,SINA,
FUQI,FSLR,LDK,VAR....
BLOG does NOT give buy or sell.
Saleem
Monday, September 20, 2010
S&P 500 closed @ 1142.71...NICE !!!!
Not only S&P 500 went above "much dreaded" resistance of 1130..BUT it closed well above @ 1142.71...please note that normally "major resistance is breached" but by close it falls below in first attempt......so technically this IS "very significant" when we breeze through a major resistance....
I am sure Doug Kass who announced the "top in this market" two trading days ago does not feel good @ today's close......
Guy Adami told all his "loyal bearish followers " that we are @ the top end of the range & he remains "firmly bearish"..well he is used to feeling betrayed by this market since March 09....he was given a "special leave of absence" to deal with this ongoing trauma....
SO..tomorrow Fed will speak..and to the surprise of "bearish camp" he will neither do or say anything new..which should fuel this rally further.....
Internals of the market were strong & new 52 wk highs keeps expanding.....
AH futures Down
AH Asian markets UP
AH oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
I am sure Doug Kass who announced the "top in this market" two trading days ago does not feel good @ today's close......
Guy Adami told all his "loyal bearish followers " that we are @ the top end of the range & he remains "firmly bearish"..well he is used to feeling betrayed by this market since March 09....he was given a "special leave of absence" to deal with this ongoing trauma....
SO..tomorrow Fed will speak..and to the surprise of "bearish camp" he will neither do or say anything new..which should fuel this rally further.....
Internals of the market were strong & new 52 wk highs keeps expanding.....
AH futures Down
AH Asian markets UP
AH oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Indices UP .88% to .92%.....NICE !!!!!
S&P 500 smashed the "insurmountable resistance of 1130" with ease.....S&P 500 went to 1138.54 as high of the day...currently @ 1135 area.....
Next minor resistance is @ 1173.57......
Gold UP $5.30
Oil UP $1.33
Canadian $ UP 48 tick @ 97.22
In my portfolio :
Sold SOLF
Added 50% more RVBD @ $46.24
Portfolio is AAPL,RVBD,LVS......three is company....
Most stocks are UP
@ 12.28 following are RED :
EGO,SNDK,TSL,CREE,RIMM,JKS,X,
BRCD,CTRN,ICE,FUQI,NYX,FSLR....
BLOG does NOT give buy or sell.
Saleem
Next minor resistance is @ 1173.57......
Gold UP $5.30
Oil UP $1.33
Canadian $ UP 48 tick @ 97.22
In my portfolio :
Sold SOLF
Added 50% more RVBD @ $46.24
Portfolio is AAPL,RVBD,LVS......three is company....
Most stocks are UP
@ 12.28 following are RED :
EGO,SNDK,TSL,CREE,RIMM,JKS,X,
BRCD,CTRN,ICE,FUQI,NYX,FSLR....
BLOG does NOT give buy or sell.
Saleem
Sunday, September 19, 2010
S&P 500 getting ready for 1200.....
S&P 500 closed @ the highest level of this rally on option expiry......generally indices do not make highs on option expiry....
The reason indices behaved so strongly or did not pull back was because too many investors/traders are afraid of 1130 area & have sold out......
Investor psychology is critical in determining direction of the market...when they are afraid,it is time to stay invested.....
Currently 30% of advisers are looking for correction...an extremely high number when indices are near recent highs..which only means that support for S&P 500 is very strong due to skepticism about this rally...i do not see S&P 500 going below 1100 in any pullback.....
YES..pullbacks are to be expected due to news event BUT we should march upwards eventually towards 1200 area.....
Many pundits are afraid of this rally and are calling for a correction thus shorting this market...which in turn should fuel another strong rally.....so when pundits are afraid & as long as we have Guy Adami expecting a pullback to below 900 we are/have been fine....
I love when Guy Adami has been "bearish" since March 09 while we keep rallying higher & staying well above any of his much talked about "below 850 in S&P"......
Currently RSI is @ 63.43....in healthy market this number do not go below 50...there is a very good chance that we MAY take out 80 RSI reached in the week of April 12,2010..thus lot of room on the upside.....
As we all know that 70% of trading volume is generated by High Frequency Trading....IF they are confident about future trend of economy...they CAN take this market higher in a hurry...
CMF is getting more positive currently @ +.176...highest since week of Aug 16......
IF we get near 1200 then we will get another "outright buy signal" as this may cause a "bullish crossover".....when 50 DMA moves higher than 200 DMA..then it is an indicator of long term buy signal.....
While there is lot of FEAR about economy...market is noticing improvement in Jobless claims & industrial production worldwide.....
Fundamental of US & worldwide economy is far from anaemic.....it has a PULSE.....which should get better every month.....
I expect Q4 which starts in October to signal a major improvement in worldwide economy which should continue until March of 2011......
When market do not go down "pay attention".....I do & change my strategy in nano-second.....
My portfolio is AAPL,LVS,RVBD,SOLF......
Good luck with your OWN comfort level as markets do change direction without notice.IF you are in market then stay diversified......
BLOG does NOT give buy or sell.
Saleem
The reason indices behaved so strongly or did not pull back was because too many investors/traders are afraid of 1130 area & have sold out......
Investor psychology is critical in determining direction of the market...when they are afraid,it is time to stay invested.....
Currently 30% of advisers are looking for correction...an extremely high number when indices are near recent highs..which only means that support for S&P 500 is very strong due to skepticism about this rally...i do not see S&P 500 going below 1100 in any pullback.....
YES..pullbacks are to be expected due to news event BUT we should march upwards eventually towards 1200 area.....
Many pundits are afraid of this rally and are calling for a correction thus shorting this market...which in turn should fuel another strong rally.....so when pundits are afraid & as long as we have Guy Adami expecting a pullback to below 900 we are/have been fine....
I love when Guy Adami has been "bearish" since March 09 while we keep rallying higher & staying well above any of his much talked about "below 850 in S&P"......
Currently RSI is @ 63.43....in healthy market this number do not go below 50...there is a very good chance that we MAY take out 80 RSI reached in the week of April 12,2010..thus lot of room on the upside.....
As we all know that 70% of trading volume is generated by High Frequency Trading....IF they are confident about future trend of economy...they CAN take this market higher in a hurry...
CMF is getting more positive currently @ +.176...highest since week of Aug 16......
IF we get near 1200 then we will get another "outright buy signal" as this may cause a "bullish crossover".....when 50 DMA moves higher than 200 DMA..then it is an indicator of long term buy signal.....
While there is lot of FEAR about economy...market is noticing improvement in Jobless claims & industrial production worldwide.....
Fundamental of US & worldwide economy is far from anaemic.....it has a PULSE.....which should get better every month.....
I expect Q4 which starts in October to signal a major improvement in worldwide economy which should continue until March of 2011......
When market do not go down "pay attention".....I do & change my strategy in nano-second.....
My portfolio is AAPL,LVS,RVBD,SOLF......
Good luck with your OWN comfort level as markets do change direction without notice.IF you are in market then stay diversified......
BLOG does NOT give buy or sell.
Saleem
Saturday, September 18, 2010
Buy rated stocks.....
Following stocks are showing strength.Please do your OWN due diligence by checking FA/TA/TAPE.
BIDU,VMW,GS,MA,IBN,SOHU,JKS,
JASO,WYNN,SOL,TCK,EXPE......
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
BIDU,VMW,GS,MA,IBN,SOHU,JKS,
JASO,WYNN,SOL,TCK,EXPE......
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, September 17, 2010
Green close on Option Expiry....NICE !!!!
Indices showed resiliency by closing in green.....
Many stocks were strong despite option related selling pressure....
Again many retail & pundits are extremely nervous about this market..Doug Kass is trying to call TOP in this market giving "no rational explanation".....
Internals of the market were strong as listed :
Advancing stocks led by 18 to 12 in NYSE & 16 to 11 in Nasdaq
New 52 wk high 231 in NYSE & 99 in Nasdaq
In my portfolio :
Bought RVBD @ $44.59
Portfolio is AAPL,LVS,RVBD,SOLF
Stocks which gained 1% or more included RVBD,ISRG,GOOG,MA,
FNSR,NVLS.....
By noon Saturday,I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Many stocks were strong despite option related selling pressure....
Again many retail & pundits are extremely nervous about this market..Doug Kass is trying to call TOP in this market giving "no rational explanation".....
Internals of the market were strong as listed :
Advancing stocks led by 18 to 12 in NYSE & 16 to 11 in Nasdaq
New 52 wk high 231 in NYSE & 99 in Nasdaq
In my portfolio :
Bought RVBD @ $44.59
Portfolio is AAPL,LVS,RVBD,SOLF
Stocks which gained 1% or more included RVBD,ISRG,GOOG,MA,
FNSR,NVLS.....
By noon Saturday,I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Higher Highs in S&P 500 ...NICE !!!
S&P 500 went to 1131.47 beating recent high of 1131.23...since then we have pulled back thanks to "triple witching" expiry......
It is extremely rare that we make higher highs on Option Expiry.....speaks of ongoing buying interest....
Gold UP $4.10
Oil Down $1.21
Canadian $ Down 59 tick to 96.83..it touched 97.77 before pulling back after weaker consumer sentiment data came out in US....
Portfolio is AAPL,LVS,SOLF......
Most stocks are Down....
@ 12.27 following are green :
GOOG,RVBD,RIMM,WYNN,IBN,ISRG,
MA,V,ASIA,FMCN,RCI,LULU,ABX.....
RIMM results are being analyzed by Canadian Analysts as positive with
highest price target of up to $90... BUT US analysts are all bringing price target down...lowest being $37 ???
BLOG does NOT give buy or sell.
Saleem
It is extremely rare that we make higher highs on Option Expiry.....speaks of ongoing buying interest....
Gold UP $4.10
Oil Down $1.21
Canadian $ Down 59 tick to 96.83..it touched 97.77 before pulling back after weaker consumer sentiment data came out in US....
Portfolio is AAPL,LVS,SOLF......
Most stocks are Down....
@ 12.27 following are green :
GOOG,RVBD,RIMM,WYNN,IBN,ISRG,
MA,V,ASIA,FMCN,RCI,LULU,ABX.....
RIMM results are being analyzed by Canadian Analysts as positive with
highest price target of up to $90... BUT US analysts are all bringing price target down...lowest being $37 ???
BLOG does NOT give buy or sell.
Saleem
Thursday, September 16, 2010
Highest close in Dow & Nasdaq...NICE !!!!!
Considering Friday is "triple witching", Dow & Nasdaq had the highest close since 1040... S&P 500 missed by fraction....
Friday should be an interesting day as it is Option Expiry & reaction to strong earning from ORCL & RIMM...
RIMM & ORCL beat both top & bottom line expectations & are guiding higher than consensus...RIMM had less than consensus growth in net add-on subscribers & is guiding margin lower..stock UP AH 4.54%
ORCL UP AH 4.61%....
TXN AH announcing buyback UP 3.28%
In my portfolio :
Added 25% LVS @ $32.09
Portfolio is AAPL,LVS,SOLF.....
AH Futures UP
AH Asian markets Mixed
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Friday should be an interesting day as it is Option Expiry & reaction to strong earning from ORCL & RIMM...
RIMM & ORCL beat both top & bottom line expectations & are guiding higher than consensus...RIMM had less than consensus growth in net add-on subscribers & is guiding margin lower..stock UP AH 4.54%
ORCL UP AH 4.61%....
TXN AH announcing buyback UP 3.28%
In my portfolio :
Added 25% LVS @ $32.09
Portfolio is AAPL,LVS,SOLF.....
AH Futures UP
AH Asian markets Mixed
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
.08% to .36% decline in indices.....
Indices are marking time to digest weak philly data.....Option expiry is also holding indices back...
Close should be interesting.....
Gold @ record high Again UP $8.10
Oil Down $1.61
Canadian $ Down 20 tick to 97.29
My portfolio is AAPL,LVS,SOLF...
Most stocks are Down
@ 12.54 following stocks are green :
AAPL,JKS,AMZN,RIMM,GOOG,SLW,
KGC,POT,AGU,CRUS,MA,X,CREE,
RCI,SINA,AEM,FUQI,AUY,ABX,
FSLR,SNE.....
BLOG does NOT give buy or sell.
Saleem
Close should be interesting.....
Gold @ record high Again UP $8.10
Oil Down $1.61
Canadian $ Down 20 tick to 97.29
My portfolio is AAPL,LVS,SOLF...
Most stocks are Down
@ 12.54 following stocks are green :
AAPL,JKS,AMZN,RIMM,GOOG,SLW,
KGC,POT,AGU,CRUS,MA,X,CREE,
RCI,SINA,AEM,FUQI,AUY,ABX,
FSLR,SNE.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, September 15, 2010
S&P 500 "highest close" in this rally...NICE !!!!
S&P 500 closed @ the highest level since 1040 reversal......1125.07 near high of the day...
Nasdaq volume was higher than average......
Internals were positive in all indices.....
Wed close COULD be pointing to a "melt UP" which MAY last until Monday
Thursday RIMM reports AH which MAY point to "further" market share & margin pressure...guidance could be lackluster also......
AAPL is the direct beneficiary of RIMM malaise on hardware & software side.....
AAPL looks "poised" to taking out previous 52 wk high of $279.01 which happened wk of June 21,2010..
This Option Expiry is looking "extremely bullish"...a rare event !!!!!
Stocks which gained 2% or more included RVBD,KGC,MA,V,
SOHU,ISRG,FUQI.....
AH Futures Mixed
AH Asian markets UP
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Nasdaq volume was higher than average......
Internals were positive in all indices.....
Wed close COULD be pointing to a "melt UP" which MAY last until Monday
Thursday RIMM reports AH which MAY point to "further" market share & margin pressure...guidance could be lackluster also......
AAPL is the direct beneficiary of RIMM malaise on hardware & software side.....
AAPL looks "poised" to taking out previous 52 wk high of $279.01 which happened wk of June 21,2010..
This Option Expiry is looking "extremely bullish"...a rare event !!!!!
Stocks which gained 2% or more included RVBD,KGC,MA,V,
SOHU,ISRG,FUQI.....
AH Futures Mixed
AH Asian markets UP
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
All Indices GREEN.....NICE !!!!
With Option Expiry looming,Indices are showing green.....looks like "triple witching" was taken care of this morning....
S&P 500 went down to 1114.63 just below 200 DMA of 1115.92..currently S&P 500 is @ 1121.63......
SO..from high of 1127.36 to low of 1114.63 we had a pullback of only 1.13% so far...technically we are showing tremendous strength by staying above 200 DMA......
We all must have our opinion of where markets are headed BUT it is CRITICAL to MONITOR TAPE which is MIGHTIER than our "humble opinions"..SO we must CHANGE accordingly especially for swing & daytraders......
Gold Down $5.00
Oil Down $1.12 to $75.68..lower end of trading range
Canadian $ UP 2 tick @ 97.33
Portfolio is AAPL,SOLF,LVS......
VIX UP 4.41% @ 22.51 ????
@ 12.54 following are among green :
AAPL,LVS,RVBD,KGC,JKS,NOVL,
IBN,SOHU,ISRG,MA,V,SINA,FUQI,
SNE,GNK....
BLOG does NOT give buy or sell.
Saleem
S&P 500 went down to 1114.63 just below 200 DMA of 1115.92..currently S&P 500 is @ 1121.63......
SO..from high of 1127.36 to low of 1114.63 we had a pullback of only 1.13% so far...technically we are showing tremendous strength by staying above 200 DMA......
We all must have our opinion of where markets are headed BUT it is CRITICAL to MONITOR TAPE which is MIGHTIER than our "humble opinions"..SO we must CHANGE accordingly especially for swing & daytraders......
Gold Down $5.00
Oil Down $1.12 to $75.68..lower end of trading range
Canadian $ UP 2 tick @ 97.33
Portfolio is AAPL,SOLF,LVS......
VIX UP 4.41% @ 22.51 ????
@ 12.54 following are among green :
AAPL,LVS,RVBD,KGC,JKS,NOVL,
IBN,SOHU,ISRG,MA,V,SINA,FUQI,
SNE,GNK....
BLOG does NOT give buy or sell.
Saleem
Tuesday, September 14, 2010
Mixed close......
Indices ran out of steam by close.....
Nasdaq was the sole index in green....
BUT..all indices made higher highs.....
Option Expiry plays some role before Friday as many stocks are pinned down @ certain price level......
Stocks which were UP 3% or more included EGO,KGC,MA,GG,SLW,
CREE,SOL.....
AH Futures Mixed
AH Asian markets Mixed
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Nasdaq was the sole index in green....
BUT..all indices made higher highs.....
Option Expiry plays some role before Friday as many stocks are pinned down @ certain price level......
Stocks which were UP 3% or more included EGO,KGC,MA,GG,SLW,
CREE,SOL.....
AH Futures Mixed
AH Asian markets Mixed
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
S&P 500 NOT afraid of height anymore.....NICE !!!
S&P 500 is giving a "strong technical picture" by making new highs everyday..9 out of 10 days it has been UP.......
There is a very good chance that 1131 could be taken out.....
RSI is @ 63.74.....
Market TAPE is "very strong".....
Gold @ record high UP $27.10
Oil UP 69 cents
Canadain $ @ new recent high @ 97.83 UP 54 tick
In my portfolio :
Bought back covered write on LVS @ .54 cents
Bought AAPL @ $266.90
Bought SOLF @ $12.02
Added 35% more LVS @ $32.13
Portfolio is SOLF(new 52 wk high),AAPL,LVS..all long & clear.....
I am @ 50% exposure......
Most stocks are UP
@ 12.28 following are RED :
AGU,X,IBN,CNQ,RVBD,ASIA,ECA,
BRCD,IGT,NTES,FUQI,SNE,GS,GNK.....
BLOG does NOT give buy or sell.
Saleem
There is a very good chance that 1131 could be taken out.....
RSI is @ 63.74.....
Market TAPE is "very strong".....
Gold @ record high UP $27.10
Oil UP 69 cents
Canadain $ @ new recent high @ 97.83 UP 54 tick
In my portfolio :
Bought back covered write on LVS @ .54 cents
Bought AAPL @ $266.90
Bought SOLF @ $12.02
Added 35% more LVS @ $32.13
Portfolio is SOLF(new 52 wk high),AAPL,LVS..all long & clear.....
I am @ 50% exposure......
Most stocks are UP
@ 12.28 following are RED :
AGU,X,IBN,CNQ,RVBD,ASIA,ECA,
BRCD,IGT,NTES,FUQI,SNE,GS,GNK.....
BLOG does NOT give buy or sell.
Saleem
Monday, September 13, 2010
Very impressive close...NICE !!!!
Indices closed near upper end of trading range.
S&P 500 closed @ 1121.90 best close since 1040 reversal....
RSI in S&P 500 @ close 62.53
Internals of the market were extremely impressive as listed below :
UP volume led by 6.20 to 1 in NYSE & 9.56 to 1 in Nasdaq
Advancing stocks led by 3.49 to 1 in NYSE & 3.92 to 1 in Nasdaq
New 52 wk high was 226 in NYSE & 96 in Nasdaq
Overall a very healthy TAPE....thanks to agreement in Basel about banking liquidity & Chinese industrial production...
VIX closed Down 3.55% @ 21.21
In my portfolio :
Closed my short in AAPL.....
Portfolio LVS with covered call Sep $32
AH Futures Down
AH Oil Down
AH Asian markets Mixed
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1121.90 best close since 1040 reversal....
RSI in S&P 500 @ close 62.53
Internals of the market were extremely impressive as listed below :
UP volume led by 6.20 to 1 in NYSE & 9.56 to 1 in Nasdaq
Advancing stocks led by 3.49 to 1 in NYSE & 3.92 to 1 in Nasdaq
New 52 wk high was 226 in NYSE & 96 in Nasdaq
Overall a very healthy TAPE....thanks to agreement in Basel about banking liquidity & Chinese industrial production...
VIX closed Down 3.55% @ 21.21
In my portfolio :
Closed my short in AAPL.....
Portfolio LVS with covered call Sep $32
AH Futures Down
AH Oil Down
AH Asian markets Mixed
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
All Indices above 200 DMA....NICE !!!!
Indices opened strong on Chinese economic news & Basil agreement to improve balance sheet of all banks....
All indices are above 200 DMA......
S&P 500 went to 1123.87 which makes it higher highs in current session BUT it is lower than previous peak of 1129 & 1131.....
RSI in S&P 500 went to almost 63..which IS in overbought zone.....
Gold UP $1.50
Oil UP 57 cents
Canadian $ UP 71 tick to 97.11..went near high of the year this AM.....
In my portfolio :
Sold covered call on my LVS position Sep 32 call @ $1.02
Shorted AAPL @ $268.08.....my first venture into shorting..hoping to close my short before close.
My portfolio is LVS,Short AAPL......
Most stocks are UP.....
@ 12.54 following are RED :
VMW,KGC,POT,YGE,MA,V,ASIA,
SNDA,JRCC,GAME,BRCD,ABX,
SPWRA,SNE,FWLT....
BLOG does NOT give buy or sell.
Saleem
All indices are above 200 DMA......
S&P 500 went to 1123.87 which makes it higher highs in current session BUT it is lower than previous peak of 1129 & 1131.....
RSI in S&P 500 went to almost 63..which IS in overbought zone.....
Gold UP $1.50
Oil UP 57 cents
Canadian $ UP 71 tick to 97.11..went near high of the year this AM.....
In my portfolio :
Sold covered call on my LVS position Sep 32 call @ $1.02
Shorted AAPL @ $268.08.....my first venture into shorting..hoping to close my short before close.
My portfolio is LVS,Short AAPL......
Most stocks are UP.....
@ 12.54 following are RED :
VMW,KGC,POT,YGE,MA,V,ASIA,
SNDA,JRCC,GAME,BRCD,ABX,
SPWRA,SNE,FWLT....
BLOG does NOT give buy or sell.
Saleem
Sunday, September 12, 2010
Will "triple witching" put downside pressure ????
This week Indices will face potential threat from "triple witching".....
This week there is a "possibility" that China MAY raise interest rates to contain inflation which came in hotter....
Latest reading from investor intelligence points out that 40% of retail investors are bullish compared to 20% only two weeks ago....this has worked as a reliable "contrary" indicator ???
S&P 500 has moved up 6.6% from 1040 low..which MAY put downside pressure....
RSI in S&P 500 is 58.98..which is close to 60 in overbought zone.....
S&P 500 has been UP 7 out of last 8 trading days.......& closed @ its highest level of 1109.55....
Based on all of the above.....it will be PRUDENT to take a "wait & see" attitude......
YES..buying on weakness has paid off.....BUT buying on EUPHORIA has been a losing strategy...
Looking beyond Option Expiry week looks very good...there is a very good chance that we will take out 1131 easily.......
So a "defensive approach" this week is highly recommended........
A 3% pullback in OE week is not out of question....which MAY take S&P 500 to 1076 area....
Based on history of Option Expiry week Wed & Thursday are normally down days......
News from China was extremely positive on Saturday....Industrial production & Inflation is UP which MAY result in strong open on Monday...& MAY put S&P 500 & Nasdaq above 200 DMA..Dow is already above 200 DMA......
My strategy is to trade out "quickly" IF there is a gain......
I will be "under invested" this week........
Good luck in your OWN due diligence & understanding of market TAPE.....
BLOG does NOT give buy or sell.
Saleem
This week there is a "possibility" that China MAY raise interest rates to contain inflation which came in hotter....
Latest reading from investor intelligence points out that 40% of retail investors are bullish compared to 20% only two weeks ago....this has worked as a reliable "contrary" indicator ???
S&P 500 has moved up 6.6% from 1040 low..which MAY put downside pressure....
RSI in S&P 500 is 58.98..which is close to 60 in overbought zone.....
S&P 500 has been UP 7 out of last 8 trading days.......& closed @ its highest level of 1109.55....
Based on all of the above.....it will be PRUDENT to take a "wait & see" attitude......
YES..buying on weakness has paid off.....BUT buying on EUPHORIA has been a losing strategy...
Looking beyond Option Expiry week looks very good...there is a very good chance that we will take out 1131 easily.......
So a "defensive approach" this week is highly recommended........
A 3% pullback in OE week is not out of question....which MAY take S&P 500 to 1076 area....
Based on history of Option Expiry week Wed & Thursday are normally down days......
News from China was extremely positive on Saturday....Industrial production & Inflation is UP which MAY result in strong open on Monday...& MAY put S&P 500 & Nasdaq above 200 DMA..Dow is already above 200 DMA......
My strategy is to trade out "quickly" IF there is a gain......
I will be "under invested" this week........
Good luck in your OWN due diligence & understanding of market TAPE.....
BLOG does NOT give buy or sell.
Saleem
Saturday, September 11, 2010
Buy rated stocks.....
Following stocks are technically strong.Please do your OWN due diligence by checking FA/TA/TAPE.
JDSU,CIEN,LULU,KGC,LEN,SOLF,
RVBD,AAPL,BIDU,XRX,COT,TSL,
RY,BNS,SLW,AMZN....
Next post by noon Sunday.
Thanks to Michael & Param for their "Eid messages".
BLOG does NOT give buy or sell.
Saleem
JDSU,CIEN,LULU,KGC,LEN,SOLF,
RVBD,AAPL,BIDU,XRX,COT,TSL,
RY,BNS,SLW,AMZN....
Next post by noon Sunday.
Thanks to Michael & Param for their "Eid messages".
BLOG does NOT give buy or sell.
Saleem
Thursday, September 9, 2010
Another positive close....NICE !!!!
Indices closed positive despite selling pressure.....
Internals were positive in all indices....
Stocks which were UP 1% or more included RVBD,TSL,IBN,SOHU,
GOOG,GS,M,SNDK,JDSU,C.....
AH Futures Mixed
AH Asian markets UP
AH Gold Down
AH Oil UP
PS......There will be NO post in the BLOG on Friday...as all Muslims are celebrating end of Ramadan....I will be visiting friends whole day....
By noon Saturday..I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Internals were positive in all indices....
Stocks which were UP 1% or more included RVBD,TSL,IBN,SOHU,
GOOG,GS,M,SNDK,JDSU,C.....
AH Futures Mixed
AH Asian markets UP
AH Gold Down
AH Oil UP
PS......There will be NO post in the BLOG on Friday...as all Muslims are celebrating end of Ramadan....I will be visiting friends whole day....
By noon Saturday..I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Higher high in S&P 500....NICE !!!!
S&P 500 went to 1110.27 making a higher high which is a good thing.....
Market TAPE is kind of lethargic which COULD be a reflection of low volume..next week will be a better indicator of market trend...incidentally next week is also Option Expiry which could trigger extreme market move......
I have a feeling that market IS getting overbought based on current buyers....BUT you never know.....
Gold Down $11.70
Oil UP 30 cents
Canadian $ UP 40 tick to 96.84
In my portfolio :
Sold AAPL
Sold RVBD
Bought LVS @ $32.36
Portfolio is LVS.....
I may not add any stock until Monday TAPE.....just a gut feeling....
VIX Down 4.6% to 22.18
@ 12.29 following are green :
AAPL,VMW,RVBD,LVS,GOOG,AMZN,IBN,
SOHU,ISRG,GS,SNDK,CNQ,FMCN,SINA,
WYNN,MFC,NYX,FSLR,VAR.....
BLOG does NOT give buy or sell.
Saleem
Market TAPE is kind of lethargic which COULD be a reflection of low volume..next week will be a better indicator of market trend...incidentally next week is also Option Expiry which could trigger extreme market move......
I have a feeling that market IS getting overbought based on current buyers....BUT you never know.....
Gold Down $11.70
Oil UP 30 cents
Canadian $ UP 40 tick to 96.84
In my portfolio :
Sold AAPL
Sold RVBD
Bought LVS @ $32.36
Portfolio is LVS.....
I may not add any stock until Monday TAPE.....just a gut feeling....
VIX Down 4.6% to 22.18
@ 12.29 following are green :
AAPL,VMW,RVBD,LVS,GOOG,AMZN,IBN,
SOHU,ISRG,GS,SNDK,CNQ,FMCN,SINA,
WYNN,MFC,NYX,FSLR,VAR.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, September 8, 2010
Indices closed green....NICE !!!!
So far we have one Down & one Up day this week.....not bad considering we have moved UP from 1040 level....closing today @ 1098.87 level.....
Stocks which were UP 2% or more included BIDU,AGU,YGE,IBN,
PCLN,SNDK,TCK,JDSU,CIEN,JASO,STP.....
In my portfolio :
Bought AAPL @ $262.50
Portfolio is RVBD,AAPL.....
I may add one more stock on Thursday.....
AH futures UP
AH Asian market UP
AH Gold Down
AH Oil UP
BLOG does NOT give buy or sell.
Saleem
Stocks which were UP 2% or more included BIDU,AGU,YGE,IBN,
PCLN,SNDK,TCK,JDSU,CIEN,JASO,STP.....
In my portfolio :
Bought AAPL @ $262.50
Portfolio is RVBD,AAPL.....
I may add one more stock on Thursday.....
AH futures UP
AH Asian market UP
AH Gold Down
AH Oil UP
BLOG does NOT give buy or sell.
Saleem
Indices back on "northbound track" after profit taking...
Nasdaq is leading the charge by being UP the most 1.17%....
This is a market where traders can buy on DOWN days & sell on UP days..has worked like a charm for most of the time.....nothing is 100% in wall street...
Gold Down 30 cents
Oil UP 47 cents
Canadian $ UP 1 cent to 96.56..Bank Of Canada hiked its interest rate to 1%
VIX Down 3.53% to 22.96
In my portfolio :
Sold SOLF
Sold LVS
Sold VMW
Portfolio is RVBD......
Most stocks are UP !!!!
@ 12.40 following stocks are RED :
TSL,CRUS,MA,V,CREE,GG,ASIA,
FMCN,SNDA,CTRN,AUY,SNE.....
BLOG does NOT give buy or sell.
Saleem
This is a market where traders can buy on DOWN days & sell on UP days..has worked like a charm for most of the time.....nothing is 100% in wall street...
Gold Down 30 cents
Oil UP 47 cents
Canadian $ UP 1 cent to 96.56..Bank Of Canada hiked its interest rate to 1%
VIX Down 3.53% to 22.96
In my portfolio :
Sold SOLF
Sold LVS
Sold VMW
Portfolio is RVBD......
Most stocks are UP !!!!
@ 12.40 following stocks are RED :
TSL,CRUS,MA,V,CREE,GG,ASIA,
FMCN,SNDA,CTRN,AUY,SNE.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, September 7, 2010
Indices closed down 1.10% to 1.15%......
Indices faced negative news out of European banks & overbought condition resulting in 1.15% pullback....this is healthy & is NOT a reflection of rally being over.....there is a very good chance that we close green on Wednesday.....
Stocks which closed green included LVS,EGO,POT,
IBN,X,SLW,CIEN,FNSR,JASO.....
VIX closed UP 11.68% to closed @ 23.80
AH Futures are Mixed
AH Asian markets Down
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Stocks which closed green included LVS,EGO,POT,
IBN,X,SLW,CIEN,FNSR,JASO.....
VIX closed UP 11.68% to closed @ 23.80
AH Futures are Mixed
AH Asian markets Down
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Indices Down .80% to .88%......
Indices are pulling back due to a new round of European banking fear...OR is it just a profit taking after a 6%+ run...i tend to think it is simply ongoing nervousness about profit being eroded.....so selling starts.....
Gold UP $7.80
Oil Down $1.03
Canadian $ Down 24 tick to 95.87
VIX UP 10.56% to 23.56
In my portfolio :
Doubled by position in RVBD @ $40.55
Portfolio is LVS,SOLF,RVBD,VMW
Most stocks are down.....
@ 12.43 following are green :
LVS,SOL,SLW,PCLN,POT,YGE,IBN,
X,GG,SNDK,BRCD,LULU,ICE,AEM,GAME,ABX..
BLOG does NOT give buy or sell.
Saleem
Gold UP $7.80
Oil Down $1.03
Canadian $ Down 24 tick to 95.87
VIX UP 10.56% to 23.56
In my portfolio :
Doubled by position in RVBD @ $40.55
Portfolio is LVS,SOLF,RVBD,VMW
Most stocks are down.....
@ 12.43 following are green :
LVS,SOL,SLW,PCLN,POT,YGE,IBN,
X,GG,SNDK,BRCD,LULU,ICE,AEM,GAME,ABX..
BLOG does NOT give buy or sell.
Saleem
Sunday, September 5, 2010
We are all set to take out 1130 area in S&P 500....
Currently S&P 500 has moved UP from 1040 to 1105 .....a +6.25% move already......it all happened in a flash in 72 hours.....not much time was given to regroup or position aggressively....
Most retail & traders were out of the market fearing Chinese PMI & Jobs report as a downer...BUT surprisingly everything turned out to be roses.......
Technicians are looking @ 1130 area a "top end of this range"...IF you believe this then there is not much juice left in the rally..we are only 25 points away from "mother of all resistance"....BUT wait a minute..there is this 1115 resistance also which is 200 DMA....some are predicting we fail @ that level......SO we MAY be only 10 points away from another resistance......
I do pay attention to technicals & also closely monitor RSI which is currently @ 58.34..recently 60 has been a sell zone repeatedly......
I firmly believe that we are "headed HIGHER"..higher than 1115 & 1130.....this IS based on my interpretation of market "psychology" not a science BUT an ART......
SO..you may ask..what i am looking @......to justify my "exuberance"
First...everyone & their brother-in-law told CNBC audience that market will NOT move UP unless we see a real shift in job creation......guess what....we have seen not only a first better than consensus job creation BUT a revision UP of previous months.....so this not only proves that one month is not a trend but several month IS......
Second....Chinese PMI is telling the whole world that China is now back to growth mode after tapping the brakes for few months to cool its hyper-growth economy.....saying is as goes China so goes world stock market....
Third....after a long time of parking cash in bonds..we saw a decided shift & bond yield move higher....which means that cash is being deployed from bonds to equity...we are talking several hundreds trillions of dollars which could be moved to equity....
Fourth....market is all psychology...whenever there is a shift in sentiment...it feeds on itself....which resulted in higher volume before long weekend.
Based on the above CHANGE which traders should capitalize on......the only resistance i see is 1173.57 in S&P 500 which is 68 points away or +6.15%......@ that point we may be overbought & retrace some of the gains & mark time for another push through 1200.....
SO...it seems that we MAY have more juice left in this run than what technicians would like to commit ....technicians are funny...they see resistance @ every 10 points because they are NOT analyzing the fundamentals of worldwide economy.......
In any market analysis you MUST start with Fundamentals then look @ technicals......fundamentals were telling me strongly that 1040 support will hold
..while SCARED technicians were looking @ 1010 , 980 , 950 & all the way down to 850 in S&P 500..which SCARED away lot of retail....
SO..do yourself a big favour...monitor worldwide economy closely in terms of conceptual issues vs real growth in key economies......this way you COULD have easily concluded that "double dip" exists only in the mind of Roubini/Rosenberg/CNBC......there is real GROWTH everywhere..even in US.....
BUT...always remember to book profit based on potential of each stock......i will continue to book profit and move funds around to improve "immediate relative performance"......there is such a thing of "better returns" on a relative basis.....
You can always monitor strong stocks & will see that some are performing better than others in terms of % moves.....I do this on a daily basis.......
When I am booking profit ...I already know that I am putting that funds in other stocks with better return as a strategy.....
My portfolio is LVS,SOLF,RVBD,VMW.....
I may be adding to my exposure on Tuesday....
Good luck with your OWN analysis of current economic environment & trading strategy...I am a Taurus which forces me to see the forest from the trees..BUT sometimes it CAN be pre-mature.
Stock market is SMARTER than us mortals..so be on guard all the time.
BLOG does NOT give buy or sell.
Saleem
Most retail & traders were out of the market fearing Chinese PMI & Jobs report as a downer...BUT surprisingly everything turned out to be roses.......
Technicians are looking @ 1130 area a "top end of this range"...IF you believe this then there is not much juice left in the rally..we are only 25 points away from "mother of all resistance"....BUT wait a minute..there is this 1115 resistance also which is 200 DMA....some are predicting we fail @ that level......SO we MAY be only 10 points away from another resistance......
I do pay attention to technicals & also closely monitor RSI which is currently @ 58.34..recently 60 has been a sell zone repeatedly......
I firmly believe that we are "headed HIGHER"..higher than 1115 & 1130.....this IS based on my interpretation of market "psychology" not a science BUT an ART......
SO..you may ask..what i am looking @......to justify my "exuberance"
First...everyone & their brother-in-law told CNBC audience that market will NOT move UP unless we see a real shift in job creation......guess what....we have seen not only a first better than consensus job creation BUT a revision UP of previous months.....so this not only proves that one month is not a trend but several month IS......
Second....Chinese PMI is telling the whole world that China is now back to growth mode after tapping the brakes for few months to cool its hyper-growth economy.....saying is as goes China so goes world stock market....
Third....after a long time of parking cash in bonds..we saw a decided shift & bond yield move higher....which means that cash is being deployed from bonds to equity...we are talking several hundreds trillions of dollars which could be moved to equity....
Fourth....market is all psychology...whenever there is a shift in sentiment...it feeds on itself....which resulted in higher volume before long weekend.
Based on the above CHANGE which traders should capitalize on......the only resistance i see is 1173.57 in S&P 500 which is 68 points away or +6.15%......@ that point we may be overbought & retrace some of the gains & mark time for another push through 1200.....
SO...it seems that we MAY have more juice left in this run than what technicians would like to commit ....technicians are funny...they see resistance @ every 10 points because they are NOT analyzing the fundamentals of worldwide economy.......
In any market analysis you MUST start with Fundamentals then look @ technicals......fundamentals were telling me strongly that 1040 support will hold
..while SCARED technicians were looking @ 1010 , 980 , 950 & all the way down to 850 in S&P 500..which SCARED away lot of retail....
SO..do yourself a big favour...monitor worldwide economy closely in terms of conceptual issues vs real growth in key economies......this way you COULD have easily concluded that "double dip" exists only in the mind of Roubini/Rosenberg/CNBC......there is real GROWTH everywhere..even in US.....
BUT...always remember to book profit based on potential of each stock......i will continue to book profit and move funds around to improve "immediate relative performance"......there is such a thing of "better returns" on a relative basis.....
You can always monitor strong stocks & will see that some are performing better than others in terms of % moves.....I do this on a daily basis.......
When I am booking profit ...I already know that I am putting that funds in other stocks with better return as a strategy.....
My portfolio is LVS,SOLF,RVBD,VMW.....
I may be adding to my exposure on Tuesday....
Good luck with your OWN analysis of current economic environment & trading strategy...I am a Taurus which forces me to see the forest from the trees..BUT sometimes it CAN be pre-mature.
Stock market is SMARTER than us mortals..so be on guard all the time.
BLOG does NOT give buy or sell.
Saleem
Saturday, September 4, 2010
Buy rated stocks.....
Following stocks are showing relative strength lately.Please do your OWN due diligence by checking FA/TA/TAPE.
AAPL,SLW,TCK,AMZN,GS,SOL,SNDK,RY,
AGU,SOHU,CREE,SNDK,AMCC,CIEN,FNSR,
JDSU,STP,BZH,LSCC,ATML,MRVL,KGC......
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
AAPL,SLW,TCK,AMZN,GS,SOL,SNDK,RY,
AGU,SOHU,CREE,SNDK,AMCC,CIEN,FNSR,
JDSU,STP,BZH,LSCC,ATML,MRVL,KGC......
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, September 3, 2010
Nice finish to a strong week......
Indices were racing towards 200 DMA..Dow almost made it..S&P 500 is close & Nasdaq a bit behind....
All in all a very strong technical picture.....
Most stocks closed in green with many stocks making new 52 wk high list.....
Stocks which were UP 3% or more included LVS,RVBD,GS,SLW,
TCK,CREE,AMCC,CIEN,FNSR,SOL,STP,MFC.....
By noon Saturday I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
All in all a very strong technical picture.....
Most stocks closed in green with many stocks making new 52 wk high list.....
Stocks which were UP 3% or more included LVS,RVBD,GS,SLW,
TCK,CREE,AMCC,CIEN,FNSR,SOL,STP,MFC.....
By noon Saturday I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Finally Jobs report "better" than expected....NICE !!!!
Market is in buying mood after Jobs report came in better than expected.....
HFT panicked when service sector showed less than robust growth.....BUT we have "real buyers" in the market who were too happy to buy lower......
Currently indices are UP .69% to .90%.....IF we close in green..it will be third straight UP day for all indices....
Technically indices are looking healthy as all of them are trading above 50 DMA....
Gold Down $10.70
Oil Down $1.47
Canadian $ UP 1.08 cents to 96.06
In my portfolio :
Bought RVBD @ $40.99
Portfolio is LVS,SOLF,VMW,RVBD..
LVS,VMW,RVBD all @ new 52 wk high....
Most stocks are UP....
VIX Down 5.35% @ 21.95
@ 12.36 following are RED :
EGO,POT,YGE,ASIA,EXPE,GG,
FUQI,GAME...
BLOG does NOT give buy or sell.
Saleem
HFT panicked when service sector showed less than robust growth.....BUT we have "real buyers" in the market who were too happy to buy lower......
Currently indices are UP .69% to .90%.....IF we close in green..it will be third straight UP day for all indices....
Technically indices are looking healthy as all of them are trading above 50 DMA....
Gold Down $10.70
Oil Down $1.47
Canadian $ UP 1.08 cents to 96.06
In my portfolio :
Bought RVBD @ $40.99
Portfolio is LVS,SOLF,VMW,RVBD..
LVS,VMW,RVBD all @ new 52 wk high....
Most stocks are UP....
VIX Down 5.35% @ 21.95
@ 12.36 following are RED :
EGO,POT,YGE,ASIA,EXPE,GG,
FUQI,GAME...
BLOG does NOT give buy or sell.
Saleem
Thursday, September 2, 2010
Indices closed UP Again...NICE !!!!
Nice to see back to back gains in all indices......Nasdaq only 4 points away from 50 DMA.....
SO..its all about jobs report tomorrow...or IS IT ???
The way market behaved today by closing @ high of the day.....market is discounting jobs report already.....there is a very good chance that this rally continues on Friday.....then it is time to celebrate Labour day in North America....
About Jobs report ...consensus is headline job loss of 105k....but private sector job creation of 25k..
AH Futures Down
AH Asian Markets UP
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
SO..its all about jobs report tomorrow...or IS IT ???
The way market behaved today by closing @ high of the day.....market is discounting jobs report already.....there is a very good chance that this rally continues on Friday.....then it is time to celebrate Labour day in North America....
About Jobs report ...consensus is headline job loss of 105k....but private sector job creation of 25k..
AH Futures Down
AH Asian Markets UP
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
S&P 500 above 50 DMA....NICE !!!!
Indices are moving UP again currently UP from .07% to .68%..Nasdaq is the strongest...
Gold UP $5.20
Oil UP 30 cents
Canadian $ Down 11 tick to 95.06
In my portfolio :
Doubled my position in VMW @ $81.10
Portfolio is LVS,SOLF,VMW......
All three stocks were set up for breakout @ $30.39,$11.52 & $83.00 as per stockconsultant.com which gives free updated technical reading on 5 stocks daily after 5PM......
Most stocks are UP
VIX Down 2.05% to 23.40
BLOG does NOT give buy or sell.
Saleem
Gold UP $5.20
Oil UP 30 cents
Canadian $ Down 11 tick to 95.06
In my portfolio :
Doubled my position in VMW @ $81.10
Portfolio is LVS,SOLF,VMW......
All three stocks were set up for breakout @ $30.39,$11.52 & $83.00 as per stockconsultant.com which gives free updated technical reading on 5 stocks daily after 5PM......
Most stocks are UP
VIX Down 2.05% to 23.40
BLOG does NOT give buy or sell.
Saleem
Wednesday, September 1, 2010
Dow closed above 50 DMA...NICE !!!!
Dow is firmly above 50 DMA @ close....
S&P 500 missed closing above 1081.31 by 1.02 point....
Nasdaq is about 30 points below 50 DMA @ close...
All of the above is a "stunning reversal" of TAPE....
Stocks which closed higher by 3% or more included LVS,SOLF,VMW,
BIDU,PCLN,AMZN,TCK,YGE,TSL,SOL,SNDK,CRUS,IBN,SOHU,M,
EXPE,X,JDSU,FNSR,FUQI,STP,BZH,BAC.....
VIX closed Down 8.29% to 23.89
AH Futures Down
AH Asian Markets UP
AH OIL & Gold Down
BLOG does NOT give buy or sell.
Saleem
S&P 500 missed closing above 1081.31 by 1.02 point....
Nasdaq is about 30 points below 50 DMA @ close...
All of the above is a "stunning reversal" of TAPE....
Stocks which closed higher by 3% or more included LVS,SOLF,VMW,
BIDU,PCLN,AMZN,TCK,YGE,TSL,SOL,SNDK,CRUS,IBN,SOHU,M,
EXPE,X,JDSU,FNSR,FUQI,STP,BZH,BAC.....
VIX closed Down 8.29% to 23.89
AH Futures Down
AH Asian Markets UP
AH OIL & Gold Down
BLOG does NOT give buy or sell.
Saleem
2.28% to 2.63% jump in indices...NICE !!!!
Like always China gave the kick start to world stock markets by showing that growth remains "above trend"......
All the doomsters like Roubini & Rosenberg cannot be more wrong about their whole thesis of "doom & doom 24/7"
Gold Down $4.70
Oil UP $1.91
Canadian $ UP 1.35 cents to 95.24....
In my portfolio :
Sold AAPL
Sold BIDU
Bought SOLF @ $10.88
Portfolio is LVS,SOLF,VMW......
Most stocks are UP
@ 12.59 following are RED :
EGO,POT,GG,KGC,TKC,AEM,ABX....
VIX Down 5.76% @ 24.55
BLOG does NOT give buy or sell.
Saleem
All the doomsters like Roubini & Rosenberg cannot be more wrong about their whole thesis of "doom & doom 24/7"
Gold Down $4.70
Oil UP $1.91
Canadian $ UP 1.35 cents to 95.24....
In my portfolio :
Sold AAPL
Sold BIDU
Bought SOLF @ $10.88
Portfolio is LVS,SOLF,VMW......
Most stocks are UP
@ 12.59 following are RED :
EGO,POT,GG,KGC,TKC,AEM,ABX....
VIX Down 5.76% @ 24.55
BLOG does NOT give buy or sell.
Saleem
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