Here we are.....worrying about many events which is taking place this week.....
Jimmy the Cramer shouting about 3% to 10% correction this week..but as usual hedging his call..so he is right no matter what happens..typical CNBC approach..talk a lot BUT say nothing ???
Market have displayed tremendous strength in the last 9 weeks...S&P 500 is UP 13.78% while Nasdaq is UP 19.44% in last 60+ days......
SO.... IF we are down 1.5 day due to HFT being nervous..is that such an unusual event?
One must be ready for 1.5 day of selling @ any time......this gives believers another chance to buy some stocks on the cheap.......buying the dips have been extremely profitable since late August...
Lets look @ each of the issues for this week :
-Fed QE2 ...Fed is likely to announce a "moderate" infusion to boost US economy...moderate is a reflection of economy "improving"...economy is out of "intensive care" and is in "recovery room"..how can this be bad for stocks IF things are moving in the right direction....
-Election....US legislators are interested in status quo..no matter which party is in power in house or senate or white house......IF Republicans win in house as expected..then it will be good for the stock market...because Obama has to compromise more...means more "right Wing agenda" which is good for the stock market...
-Jobs report...this job report on Friday is expected to show another job growth.....how can this be bad for stock market......
BUT..all of the above positive may still create selling /weakness in anticipation of each event...Tuesday is election,Wednesday is Fed & Friday is Jobs report.......
SO..IF i have to "guess" Tuesday may be a down day...which will be a good buying opportunity....
I am sure CNBC will go all out to put "scare" in retail about all of the three events BUT we should be more than fine by Friday's close.......
Why ....do i have such a "casual" take on above 3 do or die events.....because stock market is predicting better things to come in a sustained manner......HFT can & do capitalize on any event by putting a day scare..but they are the ones buying @ low of the day.....
NO..i am not worried about coming week......BUT it is up to you to assess your OWN risk tolerance as market can react differently than my take.....so be on guard !!!!
Market has been good for many traders/investors so far..so a 1.5 day of pullback is not such a bad thing.......
Good luck with your OWN strategy but ensure your OWN comfort level @ all times.
BLOG does NOT give buy or sell.
Saleem
Sunday, October 31, 2010
Saturday, October 30, 2010
Buy & Sell based on RSI...it works
RSI is the most valuable tool to take a buying position or initiate selling.Those who do not factor RSI need to understand that they are risking upto "10%" of their gain.For long term holders risking upto 10% of gain may not matter as stocks in uptrend goes much higher.....BUT never in straight line.
As a rule i am extremely nervous when RSI hits 80..so i sell or do not buy & optimistic when RSI are in 50..so i take a position or stay put.....
Like any technical indicator RSI is not 100% accurate as stocks do overshoot in UP or DOWN mode..means sometimes it CAN go to 90 or to 30.....
SO...make your decision factoring fundamentals & your comfort level ....
After knowing all of the above..here is the list of stocks with their RSI for decision making to buy or to sell or do nothing :
LVS 80.46
CSTR 80.11
RIMM 74.11
RVBD 71.76
FFIV 70.61
PCLN 67.02
BIDU 65.66
SLW 65.01
MA 63.50
NFLX 62.65
QCOM 62.34
AMZN 59.94
LDK 56.47
AAPL 54.80
LULU 50.97
SOL 48.46
KGC 47.89
TSL 45.37
YGE 42.70
FSLR 41.61
EGO 40.41
SOLF 40.31
ISRG 38.78
I have grouped the above list to highlight many stocks which are trying to say something for short term.....
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
As a rule i am extremely nervous when RSI hits 80..so i sell or do not buy & optimistic when RSI are in 50..so i take a position or stay put.....
Like any technical indicator RSI is not 100% accurate as stocks do overshoot in UP or DOWN mode..means sometimes it CAN go to 90 or to 30.....
SO...make your decision factoring fundamentals & your comfort level ....
After knowing all of the above..here is the list of stocks with their RSI for decision making to buy or to sell or do nothing :
LVS 80.46
CSTR 80.11
RIMM 74.11
RVBD 71.76
FFIV 70.61
PCLN 67.02
BIDU 65.66
SLW 65.01
MA 63.50
NFLX 62.65
QCOM 62.34
AMZN 59.94
LDK 56.47
AAPL 54.80
LULU 50.97
SOL 48.46
KGC 47.89
TSL 45.37
YGE 42.70
FSLR 41.61
EGO 40.41
SOLF 40.31
ISRG 38.78
I have grouped the above list to highlight many stocks which are trying to say something for short term.....
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, October 29, 2010
Another record close for Nasdaq...NICE !!!
October trading has ended and it finished in the same manner..UP for the month and close was strong again.....
Stocks which ended UP 2% or more included LVS,PCLN,SLW,
AGU,IBN,SOHU,V,X,CNQ,AMCC,CIEN,NVLS & ARUN.....
By noon Saturday I will list some trading ideas.
BLOG does NOT give buy or sell.
Saleem
Stocks which ended UP 2% or more included LVS,PCLN,SLW,
AGU,IBN,SOHU,V,X,CNQ,AMCC,CIEN,NVLS & ARUN.....
By noon Saturday I will list some trading ideas.
BLOG does NOT give buy or sell.
Saleem
Indices mixed so far.....
Nasdaq is UP while Dow/ S&P 500 is down slightly.....
GDP showed healthy growth of 2%......while consumer sentiment dipped to lowest level in 11 months.....
Oil Down 92 cents
Gold UP $15.60
Canadian $ UP 29 tick to 98.28
In my portfolio :
Sold LVS
Bought SOLF @ $10.20..looks oversold based on RSI
Portfolio is AAPL,SOLF,BIDU
Majority of stocks are UP...
@ 1 PM following are RED :
AAPL,SOLF,BIDU,GOOG,REE,EXPE,GS,
DQ,SOL,LDK,TSL,FSLR,YGE,BCSI,JASO,
STP,FUQI,EBIX,NVTL,CSIQ,CTRN,JKS,
SPWRA,VLO...
BLOG does NOT give buy or sell.
Saleem
GDP showed healthy growth of 2%......while consumer sentiment dipped to lowest level in 11 months.....
Oil Down 92 cents
Gold UP $15.60
Canadian $ UP 29 tick to 98.28
In my portfolio :
Sold LVS
Bought SOLF @ $10.20..looks oversold based on RSI
Portfolio is AAPL,SOLF,BIDU
Majority of stocks are UP...
@ 1 PM following are RED :
AAPL,SOLF,BIDU,GOOG,REE,EXPE,GS,
DQ,SOL,LDK,TSL,FSLR,YGE,BCSI,JASO,
STP,FUQI,EBIX,NVTL,CSIQ,CTRN,JKS,
SPWRA,VLO...
BLOG does NOT give buy or sell.
Saleem
Thursday, October 28, 2010
Another record close in Nasdaq...NICE !!!!
This market is amazing...when everyone is sure that we will go down fast..it finds its footing & turns around....today was no exception..Nasdaq & S&P 500 made it into green while Dow lost 12 points.....
I do not recall any market which displayed so much strength after being UP for seven straight weeks.....it bodes well for future direction of this market.....
Stocks which were UP 1% or more included LVS,AKAM,SLW,EGO,KGC,GS,
M,GG,BCSI,EBIX,IGTE,SOL,LDK,CNQ......
In my portfolio :
Added 25% AAPL @ $303.50
Portfolio is AAPL,BIDU,LVS.....
AH MSFT ER was a beat..UP 3.42%
AH EXPE ER was a beat..UP 3.29%
AH Futures Down
AH Asian markets Mixed
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
I do not recall any market which displayed so much strength after being UP for seven straight weeks.....it bodes well for future direction of this market.....
Stocks which were UP 1% or more included LVS,AKAM,SLW,EGO,KGC,GS,
M,GG,BCSI,EBIX,IGTE,SOL,LDK,CNQ......
In my portfolio :
Added 25% AAPL @ $303.50
Portfolio is AAPL,BIDU,LVS.....
AH MSFT ER was a beat..UP 3.42%
AH EXPE ER was a beat..UP 3.29%
AH Futures Down
AH Asian markets Mixed
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Indices down from .29% to .47%......
Indices were UP initially but went down on profit taking.....
Economic data keep improving.....
Gold UP $21
Oil UP 9 cents
Canadian $ UP 85 tick to 98.14
Portfolio is AAPL,BIDU & LVS...
Most stocks are down
@ 12.59 following are green :
LVS,AKAM,SLW,EGO,KGC,IBN,ISRG,
GS,M,GG,BCSI,CNQ,TCK,SOL,SNDK,
EBIX,IGTE,WYNN,LDK,TSL,ASIA,RCI,
IGT,JRCC,AEM,MFC,AUY...
BLOG does NOT give buy or sell.
Saleem
Economic data keep improving.....
Gold UP $21
Oil UP 9 cents
Canadian $ UP 85 tick to 98.14
Portfolio is AAPL,BIDU & LVS...
Most stocks are down
@ 12.59 following are green :
LVS,AKAM,SLW,EGO,KGC,IBN,ISRG,
GS,M,GG,BCSI,CNQ,TCK,SOL,SNDK,
EBIX,IGTE,WYNN,LDK,TSL,ASIA,RCI,
IGT,JRCC,AEM,MFC,AUY...
BLOG does NOT give buy or sell.
Saleem
Wednesday, October 27, 2010
Another record high close for Nasdaq..NICE !!!!
Indices were under pressure from open as Fed may not be as aggressive in QE 2..BUT again buyers came in around 230 PM to scoop up the bargain......Nasdaq ended UP while Dow & S&P 500 were down less than .40%....
How we close shows the real strength of any market......today's close was very constructive as we have been going UP in a straight line...
Stocks which were UP 2% or more included RVBD,JKS,SOLF,MCP,REE,
AKAM,FFIV,EXPE,VMW,YGE,BCSI,AMCC,NVLS,CRUS,ARUN,BAC,EBIX....
AH ER LVS was a beat & upbeat CC about future of their business..UP $4.38 or 10.67% in AH volume of 4.47 million
AH AKAM ER was a beat & guiding UP..UP $1.91 or 3.79% in AH volume of 1.85 million
AH V ER was in line..Down $1.84 or down 2.3% in AH volume of 399,694
AH Futures Down
AH Asian markets Mixed
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
How we close shows the real strength of any market......today's close was very constructive as we have been going UP in a straight line...
Stocks which were UP 2% or more included RVBD,JKS,SOLF,MCP,REE,
AKAM,FFIV,EXPE,VMW,YGE,BCSI,AMCC,NVLS,CRUS,ARUN,BAC,EBIX....
AH ER LVS was a beat & upbeat CC about future of their business..UP $4.38 or 10.67% in AH volume of 4.47 million
AH AKAM ER was a beat & guiding UP..UP $1.91 or 3.79% in AH volume of 1.85 million
AH V ER was in line..Down $1.84 or down 2.3% in AH volume of 399,694
AH Futures Down
AH Asian markets Mixed
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
Fed plan for QE 2 causing uncertainty in market....
Wall Street Journal in its story today is dimming hope for a large QE 2 infusion..thus market is pulling back to adjust for this new uncertainty....
Indices are down from .45% to 1.09%..Dow being the weakest & Nasdaq doing relatively well....
Oil Down $1.32
Gold Down $15.30
Canadian $ Down 91 tick to 96.78
Portfolio is LVS,AAPL,BIDU....
LVS reports tonight..expect a beat & upbeat CC
V & AKAM also reporting AH....
Most stocks are down
VIX UP 8.56% @ 21.95
@ 1.10 following are Green :
FFIV,RVBD,AKAM,PCLN,VMW,POT,SOLF,
GS,MA,BCSI,AMCC,ARUN,SNDK,BAC,NVLS,
FUQI,EBIX.....
BLOG does NOT give buy or sell.
Saleem
Indices are down from .45% to 1.09%..Dow being the weakest & Nasdaq doing relatively well....
Oil Down $1.32
Gold Down $15.30
Canadian $ Down 91 tick to 96.78
Portfolio is LVS,AAPL,BIDU....
LVS reports tonight..expect a beat & upbeat CC
V & AKAM also reporting AH....
Most stocks are down
VIX UP 8.56% @ 21.95
@ 1.10 following are Green :
FFIV,RVBD,AKAM,PCLN,VMW,POT,SOLF,
GS,MA,BCSI,AMCC,ARUN,SNDK,BAC,NVLS,
FUQI,EBIX.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 26, 2010
Highest close again in Indices....NICE !!!!
Indices closed @ highest level...Nasdaq highest close on high volume...
AH ER was a beat & guide UP by FFIV & BRCM..stocks UP 6.74% & 11.50% in heavy volume...
Strong stocks today which were UP 2% or more included LVS,BIDU,M,RVBD,
JASO,NFLX,IGTE......
AH Futures UP
AH Asian markets UP
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
AH ER was a beat & guide UP by FFIV & BRCM..stocks UP 6.74% & 11.50% in heavy volume...
Strong stocks today which were UP 2% or more included LVS,BIDU,M,RVBD,
JASO,NFLX,IGTE......
AH Futures UP
AH Asian markets UP
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
Indices mixed after half day of trading.....
Indices are mixed after 3 hours of trading ......
Gold UP 70 cents
Oil Down 1 cent
Canadian $ Down 24 tick to 97.80
VIX UP 2.57% @ 20.36 ?
Portfolio is AAPL,BIDU,LVS....
Majority of stocks are UP....
FFIV reports AH..expecting a beat & guide UP......
@ 12.38 following stocks are RED :
PCLN,AKAM,EXPE,CNQ,TCK,DQ,TSL,
FMCN,RCI,ECA,BRCD,ICE,NDAQ,MA,
FUQI,NYX,ISRG,IBN,GNK,VMW,SOHU,
V,CREE,X,NVLS,NVTL....
BLOG does NOT give buy or sell.
Saleem
Gold UP 70 cents
Oil Down 1 cent
Canadian $ Down 24 tick to 97.80
VIX UP 2.57% @ 20.36 ?
Portfolio is AAPL,BIDU,LVS....
Majority of stocks are UP....
FFIV reports AH..expecting a beat & guide UP......
@ 12.38 following stocks are RED :
PCLN,AKAM,EXPE,CNQ,TCK,DQ,TSL,
FMCN,RCI,ECA,BRCD,ICE,NDAQ,MA,
FUQI,NYX,ISRG,IBN,GNK,VMW,SOHU,
V,CREE,X,NVLS,NVTL....
BLOG does NOT give buy or sell.
Saleem
Monday, October 25, 2010
Green close in all Indices...NICE !!!!
All Indices closed green but Nasdaq closed @ 2490.85 the highest level since Aug...RSI in Nasdaq @ 69.58....
Internals of the market were positive....
VIX closed UP 5.7% @ 19.85 ????
Strong stocks which were UP 4% or more included SOHU,SLW,RIMM,
TSL,CCJ,NVTL,SINA,CYOU....
AH VECO ER was lower guidance Down 7.49%
AH TXN guidance was weak Down 1.28%
AH Futures Mixed
AH Asian markets Mixed
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Internals of the market were positive....
VIX closed UP 5.7% @ 19.85 ????
Strong stocks which were UP 4% or more included SOHU,SLW,RIMM,
TSL,CCJ,NVTL,SINA,CYOU....
AH VECO ER was lower guidance Down 7.49%
AH TXN guidance was weak Down 1.28%
AH Futures Mixed
AH Asian markets Mixed
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
All Indices @ new highs....NICE !!!!
Indices went to new recent highs.....Nasdaq @ 2507.03 & S&P 500 @ 1196.14..Dow also @ new highs....
RSI In Nasdaq is currently @ 69.66.....previous high was 73+ area....
Gold UP $13.90
Oil UP 53 cents
Canadian $ UP 55 tick to 98.02
In my portfolio :
Bought AAPL @ $308.80
Portfolio is LVS,BIDU & AAPL.....
Most stocks are UP....
VIX UP 4.85% @ 19.69...????
BLOG does NOT give buy or sell.
Saleem
RSI In Nasdaq is currently @ 69.66.....previous high was 73+ area....
Gold UP $13.90
Oil UP 53 cents
Canadian $ UP 55 tick to 98.02
In my portfolio :
Bought AAPL @ $308.80
Portfolio is LVS,BIDU & AAPL.....
Most stocks are UP....
VIX UP 4.85% @ 19.69...????
BLOG does NOT give buy or sell.
Saleem
Sunday, October 24, 2010
We have "golden cross" in S&P 500....very bullish !!!!
Finally we have "golden cross" in S&P 500....50 DMA is @ 1122.47 & 200 DMA @ 1121.56...this is considered an "extremely bullish" development.....means stock market will be substantially higher in months to come......
I am sure this is "no news" to the readers of this BLOG as I hinted only few days back that we are all set to do this "bullish cross".......
NOW...the big question is "how to position" to OPTIMIZE gains ????
What has worked will continue to work...like hot stocks which are making new 52 wks high....
It may not be a bad idea to buy from new high list after waiting for few days......
This market had a feel of "bull market" since August low of 1040......currently we are @ 1183.08 with an RSI of 64.78......
There is tremendous amount of money waiting on the sidelines......there is a very good chance that we may see those horde of "trillions" make their way into this market.......
Lot of investors are in "safe mode" by being parked in Money market/Bond funds...they may be feeling that "now" is the time to "relax" a bit and try stock market again......
World economy is stable in "low interest" environment...which is very healthy for home owners/business/corporation......
SO..it is OK to be little more aggressive in high growth stocks which has "stable earnings"
RSI this time can easily exceed 73 area which we went to recently......BUT there is no need to book profit in high growth stocks..as they have found footing & keep going higher & higher....
Nature of this market is changing...it is an "ascending" market NOT YOYO which was the case until August....
SO..it is OK to be invested AGAIN.......traders may lose out and may miss huge gains...
BUT IF you want to trade because you are NOT sold on this bullish scenario...it is your comfort level which matters....
It will be extremely "profitable" IF you can be expert in few stocks and stick with it...there is no need to jump from one stock to another..keep building a good portfolio.....
Good luck with your OWN selection of stocks & trading/investing style.
BLOG does NOT give buy or sell.
Saleem
I am sure this is "no news" to the readers of this BLOG as I hinted only few days back that we are all set to do this "bullish cross".......
NOW...the big question is "how to position" to OPTIMIZE gains ????
What has worked will continue to work...like hot stocks which are making new 52 wks high....
It may not be a bad idea to buy from new high list after waiting for few days......
This market had a feel of "bull market" since August low of 1040......currently we are @ 1183.08 with an RSI of 64.78......
There is tremendous amount of money waiting on the sidelines......there is a very good chance that we may see those horde of "trillions" make their way into this market.......
Lot of investors are in "safe mode" by being parked in Money market/Bond funds...they may be feeling that "now" is the time to "relax" a bit and try stock market again......
World economy is stable in "low interest" environment...which is very healthy for home owners/business/corporation......
SO..it is OK to be little more aggressive in high growth stocks which has "stable earnings"
RSI this time can easily exceed 73 area which we went to recently......BUT there is no need to book profit in high growth stocks..as they have found footing & keep going higher & higher....
Nature of this market is changing...it is an "ascending" market NOT YOYO which was the case until August....
SO..it is OK to be invested AGAIN.......traders may lose out and may miss huge gains...
BUT IF you want to trade because you are NOT sold on this bullish scenario...it is your comfort level which matters....
It will be extremely "profitable" IF you can be expert in few stocks and stick with it...there is no need to jump from one stock to another..keep building a good portfolio.....
Good luck with your OWN selection of stocks & trading/investing style.
BLOG does NOT give buy or sell.
Saleem
Saturday, October 23, 2010
Buy rated stocks.....
Following stocks are showing strong TAPE.Please do your OWN due diligence by checking FA/TA/TAPE.
PCLN,BIDU,BCSI,CY,NVLS,
SINA,WYN,COH,EAT,RT.
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
PCLN,BIDU,BCSI,CY,NVLS,
SINA,WYN,COH,EAT,RT.
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, October 22, 2010
Indices staying near top of the trading range...NICE !!!!
Another week & another strong close...
Earnings are coming better than expected...
Many stocks making 52 wk highs...
Internals of the market were positive today....
By noon Saturday..i will list trading ideas.
BLOG does NOT give buy or sell.
Saleem
Earnings are coming better than expected...
Many stocks making 52 wk highs...
Internals of the market were positive today....
By noon Saturday..i will list trading ideas.
BLOG does NOT give buy or sell.
Saleem
Nasdaq & S&P 500 green...NICE !!!!
Indices are mixed with Dow being down slightly....
Oil UP 39 cents
Gold UP 60 cents
Canadian $ UP 4 tick @ 97.48
Portfolio is BIDU & LVS.....
Most stocks are UP....
@ 12.41 following are RED :
AAPL,VMW,JKS,LDK,POT,AGU,IBN,
MA,GS,M,VAR,FWLT....
BLOG does NOT give buy or sell.
Saleem
Oil UP 39 cents
Gold UP 60 cents
Canadian $ UP 4 tick @ 97.48
Portfolio is BIDU & LVS.....
Most stocks are UP....
@ 12.41 following are RED :
AAPL,VMW,JKS,LDK,POT,AGU,IBN,
MA,GS,M,VAR,FWLT....
BLOG does NOT give buy or sell.
Saleem
Thursday, October 21, 2010
Green close in major indices...NICE !!!!
Indices for the most part zoomed into new highs then pulled back..then raced up to close in green......
Internals were negative....
AH ER were impressive for the most part.....
BIDU beat Top & Bottom line & guiding much higher than consensus..UP .53% AH..cc was very impressive.....expecting upgrades & price target increase....
AMZN Margins were under pressure Down 3.86% AH
SNDK was a beat in EPS with improving margin..UP 5.06% AH
RVBD beat & guide UP... 2 for 1 stock split..UP 10.79% AH
AH Futures Down
AH Asia Mixed
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
Internals were negative....
AH ER were impressive for the most part.....
BIDU beat Top & Bottom line & guiding much higher than consensus..UP .53% AH..cc was very impressive.....expecting upgrades & price target increase....
AMZN Margins were under pressure Down 3.86% AH
SNDK was a beat in EPS with improving margin..UP 5.06% AH
RVBD beat & guide UP... 2 for 1 stock split..UP 10.79% AH
AH Futures Down
AH Asia Mixed
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
New High in S&P 500 & Dow...NICE !!!!
Indices vaulted to new high in S&P 500 & Dow ...Nasdaq missed it so far.....
S&P 500 high today is 1189.43..RSI @ 64.56
Gold Down $13.30
Oil Down $1.44
Canadian $ Down 21 tick @ 97.67
In my portfolio :
Doubled by position in BIDU @ $101.20..expecting strong guidance tonight.....
Portfolio is LVS & BIDU.....
Most stocks are UP...
@ 12.22 following are RED :
LVS,CRUS,SNDK,TSL,SOLF,RVBD,SLW,
AAPL,PCLN,JKS,YGE,STP,LDK,EGO,KGC,
ISRG,X,CREE,BAC,GG,ECA,CTRN,CSIQ,
ABX...
BLOG does NOT give buy or sell.
Saleem
S&P 500 high today is 1189.43..RSI @ 64.56
Gold Down $13.30
Oil Down $1.44
Canadian $ Down 21 tick @ 97.67
In my portfolio :
Doubled by position in BIDU @ $101.20..expecting strong guidance tonight.....
Portfolio is LVS & BIDU.....
Most stocks are UP...
@ 12.22 following are RED :
LVS,CRUS,SNDK,TSL,SOLF,RVBD,SLW,
AAPL,PCLN,JKS,YGE,STP,LDK,EGO,KGC,
ISRG,X,CREE,BAC,GG,ECA,CTRN,CSIQ,
ABX...
BLOG does NOT give buy or sell.
Saleem
Wednesday, October 20, 2010
Nice snapback in Indices.....
Indices almost took out recent highs..as they came within few points.....extremely bullish TAPE..
It almost feels that we will get sharp pullback which needs to be bought.....
TAPE is telling us that economy is holding up much better than what bears have made it to be...
Roubini needs to update his doomsday scenario..we also need Prechter to come on CNBC & explain why his Elliott Wave theory has gone so horribly wrong...then retail will get more confident that sky is not falling after all......
AH EBAY & NFLX are jumping UP by 7.13% & 9.26%......even Adami is "talking a different game "reluctantly"
Thursday AH is very busy with many ER..here is a list of few with RSI :
SNDK 50.30
RVBD 53.93
BIDU 57.22
AMZN 57.94
AH Futures are Mixed
AH Asian Markets Down
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
It almost feels that we will get sharp pullback which needs to be bought.....
TAPE is telling us that economy is holding up much better than what bears have made it to be...
Roubini needs to update his doomsday scenario..we also need Prechter to come on CNBC & explain why his Elliott Wave theory has gone so horribly wrong...then retail will get more confident that sky is not falling after all......
AH EBAY & NFLX are jumping UP by 7.13% & 9.26%......even Adami is "talking a different game "reluctantly"
Thursday AH is very busy with many ER..here is a list of few with RSI :
SNDK 50.30
RVBD 53.93
BIDU 57.22
AMZN 57.94
AH Futures are Mixed
AH Asian Markets Down
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
Indices firing on all cylinder......NICE !!!!
Indices are roaring back UP 1.15% to 1.36%...
S&P 500 came within 3 points of its recent high..a stunning reversal in TAPE....
Gold UP $7.70
Oil UP $1.81
Canadian $ UP 82 tick @ 97.65
Portfolio is LVS & BIDU...
Most stocks are UP
@ 12.56 following are RED :
AMZN,BIDU,SNDK,ISRG,POT,CREE,LEN,
LDK,STP,BAC,ASIA,CTRN,FUQI,FSLR.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 came within 3 points of its recent high..a stunning reversal in TAPE....
Gold UP $7.70
Oil UP $1.81
Canadian $ UP 82 tick @ 97.65
Portfolio is LVS & BIDU...
Most stocks are UP
@ 12.56 following are RED :
AMZN,BIDU,SNDK,ISRG,POT,CREE,LEN,
LDK,STP,BAC,ASIA,CTRN,FUQI,FSLR.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 19, 2010
Indices pulled back 1.48% to 1.76% on high volume......
Indices went through high volume drubbing thanks to mostly AAPL & China...
After close we were looking @ loss of 1.48% to 1.76%....Nasdaq being the weakest & Dow being down less in % terms...S&P 500 was in between...
S&P 500 went down to 1159.71 near strong support in 1160 area but closed @ 1165.90....
S&P 500 is all set to make a golden cross soon with 50 DMA @ 1117.52 & 200 DMA @ 1120.93..50 DMA should be above 200 DMA...
RSI in S&P 500 @ 58.51..which should attract buyers.....we have been @ RSI 70 for several trading days.....
Sharp down day on high volume is very healthy for this market as we were in "froth land" before...
Green stocks included GS,POT,MA,PMI,EBIX....
AH CREE ER was below & guidance also below Down $4.06
AH JNPR guidance also below Down 94 cents
AH Futures Mixed
AH Asian markets Down
AH Gold & Oil UP
BLOG does NOT give buy or sell.
Saleem
After close we were looking @ loss of 1.48% to 1.76%....Nasdaq being the weakest & Dow being down less in % terms...S&P 500 was in between...
S&P 500 went down to 1159.71 near strong support in 1160 area but closed @ 1165.90....
S&P 500 is all set to make a golden cross soon with 50 DMA @ 1117.52 & 200 DMA @ 1120.93..50 DMA should be above 200 DMA...
RSI in S&P 500 @ 58.51..which should attract buyers.....we have been @ RSI 70 for several trading days.....
Sharp down day on high volume is very healthy for this market as we were in "froth land" before...
Green stocks included GS,POT,MA,PMI,EBIX....
AH CREE ER was below & guidance also below Down $4.06
AH JNPR guidance also below Down 94 cents
AH Futures Mixed
AH Asian markets Down
AH Gold & Oil UP
BLOG does NOT give buy or sell.
Saleem
Market fighting "wall of worries".....
Market was given many "suckers punch" to test its strength...
First it was weak earning reports from AAPL,IBM,VMW & BAC.....
Second China raised interest rates by .25% to check borrowing....lending rate now is 5.56% & savings rate is 2.5%....
All commodities are taking it on the chin......
S&P 500 went down to only 1166.92 and now is fighting back to current level of 1176.45 in 2.5 hrs..
Market definitely is giving a clear signal that these slumps are a "buying opportunity"
Gold Down $29.80
Oil Down $1.83
Canadian $ Down 1.18 cent to 97.12..Canadian Central Bank left interest rate unchanged & is citing weakness in growth.....
VIX UP 2.72% @ 19.61......
In my portfolio :
Bought BIDU @ $100.84..BIDU reports AH Thursday..expecting beat & guide UP....
Portfolio is LVS & BIDU....
Most stocks are Down....
@ 12.10 following are Green :
POT,JKS,MA,V,GS,PMI,SNDK,BAC,
CTRN,ICE,NTES....
AAPL price target was raised by many analyst this AM......
BLOG does NOT give buy or sell.
Saleem
First it was weak earning reports from AAPL,IBM,VMW & BAC.....
Second China raised interest rates by .25% to check borrowing....lending rate now is 5.56% & savings rate is 2.5%....
All commodities are taking it on the chin......
S&P 500 went down to only 1166.92 and now is fighting back to current level of 1176.45 in 2.5 hrs..
Market definitely is giving a clear signal that these slumps are a "buying opportunity"
Gold Down $29.80
Oil Down $1.83
Canadian $ Down 1.18 cent to 97.12..Canadian Central Bank left interest rate unchanged & is citing weakness in growth.....
VIX UP 2.72% @ 19.61......
In my portfolio :
Bought BIDU @ $100.84..BIDU reports AH Thursday..expecting beat & guide UP....
Portfolio is LVS & BIDU....
Most stocks are Down....
@ 12.10 following are Green :
POT,JKS,MA,V,GS,PMI,SNDK,BAC,
CTRN,ICE,NTES....
AAPL price target was raised by many analyst this AM......
BLOG does NOT give buy or sell.
Saleem
Monday, October 18, 2010
S&P 500 & Nasdaq closed @ new high...NICE !!!!
S&P 500 high today was 1185.53
Nasdaq high today was 2480.95
These numbers will be taken as "major resistance"
AH was a bloodbath for major reporting companies...
AH AAPL down 6.13%...margin,ipod,ipad miss
AH VMW down 5.68% miss with deferred revenue & cash flow
AH IBM down 3.31% miss on guidance & service revenue
AH is proving once again not to be too giddy with any stock..profit needs to be booked & losses must be contained...
Markets seems like have reached a near term top which was getting very clear based on RSI readings for indices & some stocks.....
Traders do forget that we cannot go UP in straight line for too long......
AH futures Down sharply in Nasdaq ..Down 33.30
AH Asian markets mixed
Gold ,Silver Down
BLOG does NOT give buy or sell.
Saleem
Nasdaq high today was 2480.95
These numbers will be taken as "major resistance"
AH was a bloodbath for major reporting companies...
AH AAPL down 6.13%...margin,ipod,ipad miss
AH VMW down 5.68% miss with deferred revenue & cash flow
AH IBM down 3.31% miss on guidance & service revenue
AH is proving once again not to be too giddy with any stock..profit needs to be booked & losses must be contained...
Markets seems like have reached a near term top which was getting very clear based on RSI readings for indices & some stocks.....
Traders do forget that we cannot go UP in straight line for too long......
AH futures Down sharply in Nasdaq ..Down 33.30
AH Asian markets mixed
Gold ,Silver Down
BLOG does NOT give buy or sell.
Saleem
Nasdaq RED..waiting for AAPL ER....
Indices are mixed with Dow & S&P 500 green while Nasdaq is slightly down.....AAPL ER will be a catalyst in AH.....most analyst are uber bullish into AAPL prospect going forward....Mac world on Wed will bring out Lion....their new OS.....maybe an update on "white iphone".....plus an updated OS for iphone...
Gold Down $6.60
Oil UP $1.65
Canadian $ Down 46 tick to 98.52
Portfolio Short AAPL,Long LVS
Stocks are mixed...
@ 1.04 following are green :
BIDU,GOOG,VMW,AAPL,SOHU,ISRG,MA,
GS,TSL,LDK,ASIA,RCI,CSIQ,SOL,ICE,NYX,
VLO,FSLR,SNE....
BLOG does NOT give buy or sell.
Saleem
Gold Down $6.60
Oil UP $1.65
Canadian $ Down 46 tick to 98.52
Portfolio Short AAPL,Long LVS
Stocks are mixed...
@ 1.04 following are green :
BIDU,GOOG,VMW,AAPL,SOHU,ISRG,MA,
GS,TSL,LDK,ASIA,RCI,CSIQ,SOL,ICE,NYX,
VLO,FSLR,SNE....
BLOG does NOT give buy or sell.
Saleem
Sunday, October 17, 2010
How high Nasdaq can go in this run ????
Nasdaq is leading all indices in current UP move.....
Nasdaq has gone from 2099.29 only seven weeks ago to 2468.77 a straight UP run of 369.48 points or 17.6%.....based on long term gains of major indices of 5% to 7% in a year..this is a stunning move on an annualized basis..a whopping 130.7% annualized.....
RSI in Nasdaq is @ 72.94
Next question IS...can we move further UP.....???
The answer is YES...we CAN......
Next move UP is resting on the shoulder of AAPL ER....
IF ER is way above expectations/whisper number..then Nasdaq can easily go to 2525 area..which is another 2.5% move UP......
BUT ...IF AAPL ER is slightly above expectations ...watch out below..a quick pullback of 7% in a hurry...
Talking of AAPL..there is official guidance by AAPL....plus there is consensus estimate..then there is "high number".....let us look @ all those numbers :
Sales by AAPL $18.00 Billion/ Consensus $18.76/High estimate $21.49 Billion
EPS by AAPL $3.44/Consensus $4.03/High estimate $4.73
Gross Margin by AAPL 35%/Consensus 39.2%/High estimate 41.2%
AAPL is priced for perfection which means that AAPL needs to report $21 Billion in Sales & $5.25 in EPS...anything less we MAY be looking @ a quick ride Down to $290-$280 area
Looking ahead AAPL Q1 which starts in Oct will be a very strong Q.....which means any selling in AAPL shares should be a "great buying opportunity"
SO..you can see predicting AAPL ER for Q4 may not be as easy as some traders think.....
There were some challenges in this Q4..Like "antennae problem which affected Sales momentum"...plus there was a cost of Bumpers for Iphone4..plus there was shortage of parts.....all these MAY impact Sales & Margins...by how much??? nobody knows !!!!!
Back to markets...they ARE giving mixed message already....internals are not strong.....which is a first sign of overbought condition.....
I personally do not fight for the last $......
@ this stage in market it is PRUDENT to reduce exposure & book profit....
I have set aside only 40% exposure which is not fully allocated on most days..currently 30%...
SO..you have to decide..how much RISK you want to take when markets have moved UP so much.....
I have learned by mistakes to REDUCE exposure @ higher level.....
NO.. i am NOT right sometimes BUT my view of Allocation & market is mostly close to being PRUDENT....
Many market Gurus got this market 100% wrong like Prechter,Rosenberg,Adami & lately Carter Worth & Doug Kass who both predicted TOP near 1130.....
When professionals get it WRONG most of the time what makes anyone think they can be more right????
Good Luck with your OWN exposure & market RISK......
BLOG does NOT give buy or sell.
Saleem
Nasdaq has gone from 2099.29 only seven weeks ago to 2468.77 a straight UP run of 369.48 points or 17.6%.....based on long term gains of major indices of 5% to 7% in a year..this is a stunning move on an annualized basis..a whopping 130.7% annualized.....
RSI in Nasdaq is @ 72.94
Next question IS...can we move further UP.....???
The answer is YES...we CAN......
Next move UP is resting on the shoulder of AAPL ER....
IF ER is way above expectations/whisper number..then Nasdaq can easily go to 2525 area..which is another 2.5% move UP......
BUT ...IF AAPL ER is slightly above expectations ...watch out below..a quick pullback of 7% in a hurry...
Talking of AAPL..there is official guidance by AAPL....plus there is consensus estimate..then there is "high number".....let us look @ all those numbers :
Sales by AAPL $18.00 Billion/ Consensus $18.76/High estimate $21.49 Billion
EPS by AAPL $3.44/Consensus $4.03/High estimate $4.73
Gross Margin by AAPL 35%/Consensus 39.2%/High estimate 41.2%
AAPL is priced for perfection which means that AAPL needs to report $21 Billion in Sales & $5.25 in EPS...anything less we MAY be looking @ a quick ride Down to $290-$280 area
Looking ahead AAPL Q1 which starts in Oct will be a very strong Q.....which means any selling in AAPL shares should be a "great buying opportunity"
SO..you can see predicting AAPL ER for Q4 may not be as easy as some traders think.....
There were some challenges in this Q4..Like "antennae problem which affected Sales momentum"...plus there was a cost of Bumpers for Iphone4..plus there was shortage of parts.....all these MAY impact Sales & Margins...by how much??? nobody knows !!!!!
Back to markets...they ARE giving mixed message already....internals are not strong.....which is a first sign of overbought condition.....
I personally do not fight for the last $......
@ this stage in market it is PRUDENT to reduce exposure & book profit....
I have set aside only 40% exposure which is not fully allocated on most days..currently 30%...
SO..you have to decide..how much RISK you want to take when markets have moved UP so much.....
I have learned by mistakes to REDUCE exposure @ higher level.....
NO.. i am NOT right sometimes BUT my view of Allocation & market is mostly close to being PRUDENT....
Many market Gurus got this market 100% wrong like Prechter,Rosenberg,Adami & lately Carter Worth & Doug Kass who both predicted TOP near 1130.....
When professionals get it WRONG most of the time what makes anyone think they can be more right????
Good Luck with your OWN exposure & market RISK......
BLOG does NOT give buy or sell.
Saleem
Saturday, October 16, 2010
Overbought & Oversold stocks ?????
Following stocks are giving totally different technical picture.Please do your OWN due diligence when you take any position in these stocks.Some are UP for a good reason & some MAY be DOWN for no reason...part of Wall Street game?
GOOG RSI 84.91
AAPL RSI 82.18
LVS RSI 70.18
AMZN RSI 68.70
SOHU RSI 67.91
BIDU RSI 57.67
TSL RSI 48.82
MGM RSI 46.80
C RSI 45.53
ISRG RSI 43.07
SOLF RSI 42.46
VMW RSI 42.04
JPM RSI 38.05
BAC RSI 31.94
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
GOOG RSI 84.91
AAPL RSI 82.18
LVS RSI 70.18
AMZN RSI 68.70
SOHU RSI 67.91
BIDU RSI 57.67
TSL RSI 48.82
MGM RSI 46.80
C RSI 45.53
ISRG RSI 43.07
SOLF RSI 42.46
VMW RSI 42.04
JPM RSI 38.05
BAC RSI 31.94
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, October 15, 2010
Nasdaq closed @ absolute high of the day...NICE !!!
Nasdaq closed @ absolute high point of the day @ 2468.77...RSI @ 72.94..
While Nasdaq went UP 1.37%.....declining stocks were in the lead....decliners 1322 vs advancing stocks of 1225..I have never seen internals this contradictory???
VIX closed down 4.28% @ 19.03
In my portfolio :
Went short on AAPL @ $314.45 reasons RSI @ 82.18.....too much "euphoria" about its earnings..hoping for "sell in the news"....YES..will keep my position after ER on Monday.....
Portfolio is Long LVS..Short AAPL....
By noon Saturday will come up with some trading opportunities.
BLOG does NOT give buy or sell.
Saleem
While Nasdaq went UP 1.37%.....declining stocks were in the lead....decliners 1322 vs advancing stocks of 1225..I have never seen internals this contradictory???
VIX closed down 4.28% @ 19.03
In my portfolio :
Went short on AAPL @ $314.45 reasons RSI @ 82.18.....too much "euphoria" about its earnings..hoping for "sell in the news"....YES..will keep my position after ER on Monday.....
Portfolio is Long LVS..Short AAPL....
By noon Saturday will come up with some trading opportunities.
BLOG does NOT give buy or sell.
Saleem
Nasdaq @ new high AGAIN....NICE !!!!
Nasdaq is running away to another high of 2463.90....RSI @ 71.82
AAPL @ another all time high of $310.47..RSI @ 80.18
Market is factoring lot of good news.like QE2 & great earnings.....The question IS....IF there is more room to RUN ?????
I am looking @ extremely short term trades with "small exposure"......
Only advice @ this stage "book profit"......
Gold Down $9.00
Oil Down $1.14
Canadian $ Down 56 tick to 99.02
VIX UP 1.26% @ 20.13
In my portfolio :
Sold AAPL
Sold ARUN
Portfolio is LVS.....
Solar stocks are correcting....
@ 12.41 following are green :
AAPL,AMZN,GOOG,AKAM,BIDU,
PCLN,SNDK,SINA,ICE,MA,NTES,
ISRG,SOHU....
BLOG does NOT give buy or sell.
Saleem
AAPL @ another all time high of $310.47..RSI @ 80.18
Market is factoring lot of good news.like QE2 & great earnings.....The question IS....IF there is more room to RUN ?????
I am looking @ extremely short term trades with "small exposure"......
Only advice @ this stage "book profit"......
Gold Down $9.00
Oil Down $1.14
Canadian $ Down 56 tick to 99.02
VIX UP 1.26% @ 20.13
In my portfolio :
Sold AAPL
Sold ARUN
Portfolio is LVS.....
Solar stocks are correcting....
@ 12.41 following are green :
AAPL,AMZN,GOOG,AKAM,BIDU,
PCLN,SNDK,SINA,ICE,MA,NTES,
ISRG,SOHU....
BLOG does NOT give buy or sell.
Saleem
Thursday, October 14, 2010
Mild pullback in indices.....
Indices pulled back slightly after major gains....
Internals were negative....
Strong stocks included AAPL,PCLN,LDK,DQ,
MA,CREE,STP.....
AH GOOG blew past analysts estimate in Sales & EPS....GOOG AH closed UP $49.07 on AH volume of 1.49 million shares..our resident guru of CNBC Jimmy the Cramer bashed GOOG in stop trading saying it is NOT in the category of AAPL or has any growth profile .....BUT ER proved him & all Fast Money gang wrong....
AH futures UP
AH Asian markets Mixed
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Internals were negative....
Strong stocks included AAPL,PCLN,LDK,DQ,
MA,CREE,STP.....
AH GOOG blew past analysts estimate in Sales & EPS....GOOG AH closed UP $49.07 on AH volume of 1.49 million shares..our resident guru of CNBC Jimmy the Cramer bashed GOOG in stop trading saying it is NOT in the category of AAPL or has any growth profile .....BUT ER proved him & all Fast Money gang wrong....
AH futures UP
AH Asian markets Mixed
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Options controlling markets so far.......
Market makers have a problem on hand.....most options are in the money..so they are trying to contain rising value by either buying back or inducing selling in key equities.....I believe that by end of the day bulls should be in control....
Oil Down 6 cents
Gold UP $5.30
Canadian $ Down 13 tick to 99.51...@ one point this AM it was above US$ by 11 tick......
In my portfolio :
Bought AAPL @ $301.40 long...
Portfolio is AAPL,LVS,ARUN......
Stocks are Mixed...
VIX UP 7.03% @ 20.41
@ 12.43 following are RED :
RVBD,GOOG,BIDU,POT,AGU,IBN,SOHU,
ISRG,GS,X,CNQ,AMCC,BAC,C,SNDK,FMCN,
RCI,SINA,AEM,ABX,FWLT...
BLOG does NOT give buy or sell.
Saleem
Oil Down 6 cents
Gold UP $5.30
Canadian $ Down 13 tick to 99.51...@ one point this AM it was above US$ by 11 tick......
In my portfolio :
Bought AAPL @ $301.40 long...
Portfolio is AAPL,LVS,ARUN......
Stocks are Mixed...
VIX UP 7.03% @ 20.41
@ 12.43 following are RED :
RVBD,GOOG,BIDU,POT,AGU,IBN,SOHU,
ISRG,GS,X,CNQ,AMCC,BAC,C,SNDK,FMCN,
RCI,SINA,AEM,ABX,FWLT...
BLOG does NOT give buy or sell.
Saleem
Wednesday, October 13, 2010
Another closing high for all indices on high volume....
All indices ran to new high in this run.....
S&P 500 went to 1184.38 , closing @ 1178.10
RSI @ 70.29...
Friday is Option Expiry which may affect trading in next two days.....
Strong stocks included AAPL,PCLN,SLW,TSL,LDK,SOL,TLEO,
KGC,POT,AGU,MA,V,CREE,TCK,RVBD,EBIX.....
AH Futures UP
AH Oil Gold UP
AH Asian Markets UP
BLOG does NOT give buy or sell.
Saleem
S&P 500 went to 1184.38 , closing @ 1178.10
RSI @ 70.29...
Friday is Option Expiry which may affect trading in next two days.....
Strong stocks included AAPL,PCLN,SLW,TSL,LDK,SOL,TLEO,
KGC,POT,AGU,MA,V,CREE,TCK,RVBD,EBIX.....
AH Futures UP
AH Oil Gold UP
AH Asian Markets UP
BLOG does NOT give buy or sell.
Saleem
All Indices new high AGAIN.....NICE !!!!
All Indices are breaking higher ground in this "incredible runup"
S&P 500 went above 1182....RSI above 71.48....
Gold UP $25.90
Oil UP $1.62
Canadian $ UP 71 tick @ 99.71..highest level in two years....
VIX Down 1.11% @ 18.72
In my portfolio :
Sold AAPL
Sold AMZN
Added 50% more LVS @ $38.71
Portfolio is LVS & ARUN.....
Most stocks are UP.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 went above 1182....RSI above 71.48....
Gold UP $25.90
Oil UP $1.62
Canadian $ UP 71 tick @ 99.71..highest level in two years....
VIX Down 1.11% @ 18.72
In my portfolio :
Sold AAPL
Sold AMZN
Added 50% more LVS @ $38.71
Portfolio is LVS & ARUN.....
Most stocks are UP.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 12, 2010
Higher highs & highest close in all indices...NICE !!!
All indices are making higher highs & had the highest close since this rally.....
S&P 500 high today was 1172.58 which technicians never saw it coming ????
RSI in S&P 500 is @ 67.64.....
VIX closed @ 18.93 Down .16%
AH INTC had a beat from lowered guidance.....AAPL eating away @ its netbook sales ????
Stocks which were UP included LVS,AAPL,AMZN,ARUN,
DQ,SATC,N,AGU,GS,PCLN,RVBD,AMCC,BZH,BAC....
JPM reports before open......
AH Futures Down
AH Asian markets mixed
AH OIL & Gold UP
BLOG does NOT give buy or sell.
Saleem
S&P 500 high today was 1172.58 which technicians never saw it coming ????
RSI in S&P 500 is @ 67.64.....
VIX closed @ 18.93 Down .16%
AH INTC had a beat from lowered guidance.....AAPL eating away @ its netbook sales ????
Stocks which were UP included LVS,AAPL,AMZN,ARUN,
DQ,SATC,N,AGU,GS,PCLN,RVBD,AMCC,BZH,BAC....
JPM reports before open......
AH Futures Down
AH Asian markets mixed
AH OIL & Gold UP
BLOG does NOT give buy or sell.
Saleem
Nasdaq green..others to follow...NICE !!!!
Nasdaq is "the superstar" today by being green.....
S&P 500 went to 1155.71 .... is recovering nicely.....
Gold Down $6.90
Oil Down 51 cents
Canadian $ UP 28 tick @ 98.92
In my portfolio :
Covered AAPL short
Went long AAPL @ $293.40
Went long AMZN @ $154.50
Portfolio is all long AAPL,AMZN,ARUN,LVS......
Most stocks are UP...
VIX UP 1.42% @ 19.23
BLOG does NOT give buy or sell.
Saleem
S&P 500 went to 1155.71 .... is recovering nicely.....
Gold Down $6.90
Oil Down 51 cents
Canadian $ UP 28 tick @ 98.92
In my portfolio :
Covered AAPL short
Went long AAPL @ $293.40
Went long AMZN @ $154.50
Portfolio is all long AAPL,AMZN,ARUN,LVS......
Most stocks are UP...
VIX UP 1.42% @ 19.23
BLOG does NOT give buy or sell.
Saleem
Monday, October 11, 2010
Highest close in slow volume......
Indices are showing sign of fatigue.....as they barely closed in green......
TAPE is giving sign of downward pressure building......
Solar stocks were on fire thanks to many upbeat guidance by companies like LDK & CSIQ...
Stocks that were UP 3% or more included LVS,WYNN,TSL,SOLF,
JKS,LDK,DQ,YGE,JASO,STP,
In my portfolio :
Covered my short in LVS..first 22 cents per share loss in my short strategy....
Went long on LVS @ $38.55
Why did i go long in LVS..first TAPE was strong for a flat day... plus WYNN was flying UP 8.45%...
Portfolio is Long ARUN & LVS..Short AAPL....
May add more short....
INTC reports AH..expecting lackluster ER..which MAY put further pressure on Nasdaq...
AH Futures UP
AH OIL & Gold Down
AH Asian markets UP
In case you watched Mad Money....he was wrong about KLIC warning & no reaction story..KLIC warned AH Thursday & all Chip Equipment maker tanked on Friday.....?????
BLOG does NOT give buy or sell.
Saleem
TAPE is giving sign of downward pressure building......
Solar stocks were on fire thanks to many upbeat guidance by companies like LDK & CSIQ...
Stocks that were UP 3% or more included LVS,WYNN,TSL,SOLF,
JKS,LDK,DQ,YGE,JASO,STP,
In my portfolio :
Covered my short in LVS..first 22 cents per share loss in my short strategy....
Went long on LVS @ $38.55
Why did i go long in LVS..first TAPE was strong for a flat day... plus WYNN was flying UP 8.45%...
Portfolio is Long ARUN & LVS..Short AAPL....
May add more short....
INTC reports AH..expecting lackluster ER..which MAY put further pressure on Nasdaq...
AH Futures UP
AH OIL & Gold Down
AH Asian markets UP
In case you watched Mad Money....he was wrong about KLIC warning & no reaction story..KLIC warned AH Thursday & all Chip Equipment maker tanked on Friday.....?????
BLOG does NOT give buy or sell.
Saleem
Higher high in all indices....NICE !!!!
All indices are making higher highs.....
S&P 500 went to 1168.68 as high of the day.....
RSI in S&P 500 is 66.68.....
Gold UP $5.00
Oil Down 29 cents
Canadian $ Down 27 tick @ 98.66
In my portfolio :
Sold LVS
Short AAPL @ $296.88
Short LVS @ $38.30
Portfolio is Long ARUN,Short AAPL & LVS....
Most stocks are UP...
VIX Down 7.82% @ 19.09
@ 12.38 following are RED :
AMZN,N,PCLN,GG,ASIA,TCK,
NTES,AEM,GS,VAR,FWLT....
BLOG does NOT give buy or sell.
Saleem
S&P 500 went to 1168.68 as high of the day.....
RSI in S&P 500 is 66.68.....
Gold UP $5.00
Oil Down 29 cents
Canadian $ Down 27 tick @ 98.66
In my portfolio :
Sold LVS
Short AAPL @ $296.88
Short LVS @ $38.30
Portfolio is Long ARUN,Short AAPL & LVS....
Most stocks are UP...
VIX Down 7.82% @ 19.09
@ 12.38 following are RED :
AMZN,N,PCLN,GG,ASIA,TCK,
NTES,AEM,GS,VAR,FWLT....
BLOG does NOT give buy or sell.
Saleem
Sunday, October 10, 2010
Option Expiry this week MAY put downward pressure....
Indices have come up nicely & are @ its highest level since rallying from 1040 area.....so far we are UP 127 S&P 500 points or 12.2% in a span of less than six weeks......
Option expiry may put downward pressure this week or may force indices in a sideways move....market needs a rest this week before resuming its uptrend.....
Technically internals of the market are in "overbought" area......86% of stocks are above 50 DMA which HAS triggered correction in recent past....
71% of stocks are above 200 DMA.....in recent past 90% has triggered a correction in recent past......
Mutual fund investors are only 30% bullish vs 37% in May of 08...means this sentiment is "too bearish" which is extremely bullish...
Individual investors are bullish now but are NOT @ its extreme level before correction....
Market has been UP 5 out of last 6 weeks......
SO..what does it all adds up to......
That markets are near overbought level in the short term......RSI of 66.08 in S&P 500 is approaching 69 area where we have pulled back to 51 area.....
For long term investors ..these indicators means nothing..BUT for swing traders buying @ lower level means better chance of profitability........
Over the weekend Finance ministers of G20 could not agree on currency issues..which is also a negative for Monday......
For traders especially daytraders..it may be a very challenging week.....Option expiry troubles the best of traders.....as MM can & do play serious price manipulation......
My strategy is to lie low for this week & WAIT for next week......
I have LVS,ARUN & MAY exit those two position also.....
It will be a very good idea to monitor strong stocks for buying next week.....
This week earning report MAY NOT provide the "juice" for UP momentum in the market.....
BUT next week AAPL ER on Monday MAY spark buying frenzy.......
It is a good idea to know the price swing of each stock you have and may be profitable to play that swing...sometimes $2 swing CAN add up to serious money....I have narrowed my trading to few stocks like LVS,AAPL,BIDU,AMZN...which has displayed "predictable pattern"
We cannot be master of all BUT can be of few stocks...reading & monitoring few TAPE is extremely critical in this market.....
On a more bullish note...DOW has a "bullish crossover" which is 50 DMA higher than 200 DMA...which bodes well for the future of this market......
BLOG does NOT give buy or sell.
Saleem
Option expiry may put downward pressure this week or may force indices in a sideways move....market needs a rest this week before resuming its uptrend.....
Technically internals of the market are in "overbought" area......86% of stocks are above 50 DMA which HAS triggered correction in recent past....
71% of stocks are above 200 DMA.....in recent past 90% has triggered a correction in recent past......
Mutual fund investors are only 30% bullish vs 37% in May of 08...means this sentiment is "too bearish" which is extremely bullish...
Individual investors are bullish now but are NOT @ its extreme level before correction....
Market has been UP 5 out of last 6 weeks......
SO..what does it all adds up to......
That markets are near overbought level in the short term......RSI of 66.08 in S&P 500 is approaching 69 area where we have pulled back to 51 area.....
For long term investors ..these indicators means nothing..BUT for swing traders buying @ lower level means better chance of profitability........
Over the weekend Finance ministers of G20 could not agree on currency issues..which is also a negative for Monday......
For traders especially daytraders..it may be a very challenging week.....Option expiry troubles the best of traders.....as MM can & do play serious price manipulation......
My strategy is to lie low for this week & WAIT for next week......
I have LVS,ARUN & MAY exit those two position also.....
It will be a very good idea to monitor strong stocks for buying next week.....
This week earning report MAY NOT provide the "juice" for UP momentum in the market.....
BUT next week AAPL ER on Monday MAY spark buying frenzy.......
It is a good idea to know the price swing of each stock you have and may be profitable to play that swing...sometimes $2 swing CAN add up to serious money....I have narrowed my trading to few stocks like LVS,AAPL,BIDU,AMZN...which has displayed "predictable pattern"
We cannot be master of all BUT can be of few stocks...reading & monitoring few TAPE is extremely critical in this market.....
On a more bullish note...DOW has a "bullish crossover" which is 50 DMA higher than 200 DMA...which bodes well for the future of this market......
BLOG does NOT give buy or sell.
Saleem
Saturday, October 9, 2010
Buy rated stocks.....
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
ASIA,CAGC,LULU,MU,SEED,ZOLT,
ALU,IPI,LEN,MOS,MR,SYT,WYN,
WYNN,TQNT,AKS....
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
ASIA,CAGC,LULU,MU,SEED,ZOLT,
ALU,IPI,LEN,MOS,MR,SYT,WYN,
WYNN,TQNT,AKS....
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, October 8, 2010
S&P 500 closed @ 1165.15...NICE !!!!
Indices closed near record level on high volume.....
S&P 500 went to 1167.73 closing @ 1165.15....
Dow @ 11006.48
Nasdaq @ 2401.91
All of the above close are NICE.....
In my portfolio :
Sold AAPL
Sold BIDU
Sold AMZN
Portfolio is LVS & ARUN....
Risk/Reward MAY not be as attractive as before.....as a rule i get very confident on any pullback BUT get "very nervous" when sentiment is "very euphoric"...which MAY be the case right now..
By noon Saturday I will list some trading opportunities.
BLOG does NOT give buy or sell.
Saleem
S&P 500 went to 1167.73 closing @ 1165.15....
Dow @ 11006.48
Nasdaq @ 2401.91
All of the above close are NICE.....
In my portfolio :
Sold AAPL
Sold BIDU
Sold AMZN
Portfolio is LVS & ARUN....
Risk/Reward MAY not be as attractive as before.....as a rule i get very confident on any pullback BUT get "very nervous" when sentiment is "very euphoric"...which MAY be the case right now..
By noon Saturday I will list some trading opportunities.
BLOG does NOT give buy or sell.
Saleem
Job growth +64K..good enough !!!!!
Much awaited jobs growth did not stir any bearish scenario...+64k was not hot but not cold either....perfect environment for Fed to give a helping hand to accelerate growth in Jobs.....
Indices are getting a Buy from HFT after retail sold out after open.....
It pays to stay in this market.....
S&P 500 went to 1165.24 a new recent high again.....
Higher highs are not to be taken lightly..this is technical buy signal...also very soon S&P 500 will have a "bullish crossover" when 50 DMA will move higher than 200 DMA......
Gold UP $14.50
Oil UP $1.01
Canadian $ UP 50 tick @ 98.71
VIX Down 5.33% @ 20.41
Portfolio is AAPL,AMZN,BIDU,ARUN,LVS....
Most stocks are UP
@ 12.27 following are RED :
AMZN,TSL,JKS,LDK,LRCX,KLAC,KLIC,
YGE,SOHU,SOLF,CREE,CIEN,JASO,NVLS,
SNDA,FSLR,VAR.....
BLOG does NOT give buy or sell.
Saleem
Indices are getting a Buy from HFT after retail sold out after open.....
It pays to stay in this market.....
S&P 500 went to 1165.24 a new recent high again.....
Higher highs are not to be taken lightly..this is technical buy signal...also very soon S&P 500 will have a "bullish crossover" when 50 DMA will move higher than 200 DMA......
Gold UP $14.50
Oil UP $1.01
Canadian $ UP 50 tick @ 98.71
VIX Down 5.33% @ 20.41
Portfolio is AAPL,AMZN,BIDU,ARUN,LVS....
Most stocks are UP
@ 12.27 following are RED :
AMZN,TSL,JKS,LDK,LRCX,KLAC,KLIC,
YGE,SOHU,SOLF,CREE,CIEN,JASO,NVLS,
SNDA,FSLR,VAR.....
BLOG does NOT give buy or sell.
Saleem
Thursday, October 7, 2010
Market on hold for Jobs report.....
Indices by close went nowhere.....
Volume was low in all indices....
Market was on hold for Friday's all important Jobs report.....
All Indices are near recent high...Jobs report which is expecting 75K private job growth & unemployment ticking up to 9.7%....MAY provide a catalyst for market to break "higher ground"
AH Futures UP
AH Asian markets Down
AH Oil down
AH Gold UP..
BLOG does NOT give buy or sell.
Saleem
Volume was low in all indices....
Market was on hold for Friday's all important Jobs report.....
All Indices are near recent high...Jobs report which is expecting 75K private job growth & unemployment ticking up to 9.7%....MAY provide a catalyst for market to break "higher ground"
AH Futures UP
AH Asian markets Down
AH Oil down
AH Gold UP..
BLOG does NOT give buy or sell.
Saleem
S&P 500 makes higher high ..then pulls back....
S&P 500 went to 1163.87 as new high of this run..a strong technical signal...setting up for further upside......
S&P 500 low today 1151.41...RSI @ 61.80 lower end of trading range....
We may be setting up for a strong finish today !!!!
Gold Down $14.40
Oil down $1.66
Canadian $ Down 66 tick @ 98.24
In my portfolio :
Doubled my position in LVS @ $35.54
Portfolio is AAPL,AMZN,ARUN,BIDU,LVS.....
Most stocks are down.....
@ 1.19 following are green :
AMZN,SOL,TSL,YGE,SOLF,RCI,
CTRN,LULU,NTES,VLO,SPWRA,FSLR.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 low today 1151.41...RSI @ 61.80 lower end of trading range....
We may be setting up for a strong finish today !!!!
Gold Down $14.40
Oil down $1.66
Canadian $ Down 66 tick @ 98.24
In my portfolio :
Doubled my position in LVS @ $35.54
Portfolio is AAPL,AMZN,ARUN,BIDU,LVS.....
Most stocks are down.....
@ 1.19 following are green :
AMZN,SOL,TSL,YGE,SOLF,RCI,
CTRN,LULU,NTES,VLO,SPWRA,FSLR.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, October 6, 2010
Nasdaq Down .80% @ close .......
Nasdaq was the big story today.... when many stocks were shot down.....excuse was that it was all about "cloud computing" warning by an unknown company......BUT AAPL,BIDU,PCLN,LVS,WYNN & many stocks are NOT in cloud computing or AMZN has a tiny % in cloud storage..but they were all taken down by HFT..who decided to hit the sell button ......
Dow was green @ close & S&P 500 was down less than 1 point.....
Volume was way low in NYSE BUT high in Nasdaq ????
Internals were almost neutral to slightly positive in NYSE
Internals in Nasdaq was negative as listed below :
Down volume led by 2.18 to 1
Declining stocks led by 1.50 to 1
Nasdaq had 121 new 52 wk high today....
So overall Nasdaq TAPE was not that negative for today.....
VIX was actually Down 1.24% to 21.29..which tells me that HFT were shooting @ Nasdaq high fliers cloud or NOT.......
Many stocks were green which included AAPL,JASO,CSIQ,TCK,CNQ,
GS,KGC,AGU,EGO,YGE,CCJ,M,X,GG,SOLF....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
BLOG does NOT give buy or sell.
Saleem
Dow was green @ close & S&P 500 was down less than 1 point.....
Volume was way low in NYSE BUT high in Nasdaq ????
Internals were almost neutral to slightly positive in NYSE
Internals in Nasdaq was negative as listed below :
Down volume led by 2.18 to 1
Declining stocks led by 1.50 to 1
Nasdaq had 121 new 52 wk high today....
So overall Nasdaq TAPE was not that negative for today.....
VIX was actually Down 1.24% to 21.29..which tells me that HFT were shooting @ Nasdaq high fliers cloud or NOT.......
Many stocks were green which included AAPL,JASO,CSIQ,TCK,CNQ,
GS,KGC,AGU,EGO,YGE,CCJ,M,X,GG,SOLF....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
BLOG does NOT give buy or sell.
Saleem
Nasdaq hit by HFT sell button......
Nasdaq is taking on the chin by being down the most almost 20 points or .82%.....HFT in full control of Nasdaq....
S&P 500 went down to 1157.72..currently testing that support.....RSI is @ 64.14....
Gold UP $8.40 a new high
Oil UP 67 cents
Canadian $ UP 65 tick to 99.10..another high
In my portfolio :
Covered my short in LVS.....
Went long LVS @ $36.50
Portfolio is AAPL,AMZN,ARUN,BIDU,LVS..all long
@ 12.56 most stocks are Down.....
VIX UP .32% @ 21.83 ????giving hope for a turnaround.....
@ 1.00 following are green :
JASO,CSIQ,YGE,KGC,EGO,AGU,GS,CNQ,TCK,
CCJ,X,GG,CNQ,TCK,SOLF.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 went down to 1157.72..currently testing that support.....RSI is @ 64.14....
Gold UP $8.40 a new high
Oil UP 67 cents
Canadian $ UP 65 tick to 99.10..another high
In my portfolio :
Covered my short in LVS.....
Went long LVS @ $36.50
Portfolio is AAPL,AMZN,ARUN,BIDU,LVS..all long
@ 12.56 most stocks are Down.....
VIX UP .32% @ 21.83 ????giving hope for a turnaround.....
@ 1.00 following are green :
JASO,CSIQ,YGE,KGC,EGO,AGU,GS,CNQ,TCK,
CCJ,X,GG,CNQ,TCK,SOLF.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 5, 2010
S&P 500 "crushes" 1150 resistance......NICE !!!!!
According to the sage of CNBC Guy Adami.... last Thursday was "suppose" to be the day when S&P 500 "reversed" & went sharply down.......another Adami strategy went down the drain....he holds an uncanny record in CNBC for "never seen any rally".....
NOW...back to business @ hand..S&P 500 went to 1162.76 & closed @ 1160.75.....far far above much talked about 1150 "top of the trading range".....Doug Kass call for TOP @ 1130 also stand crushed.....
RSI in S&P 500 stand @ 65.30..room for further jump.....
Internals of the markets were "smoking"
Volume was the heaviest in all Indices......
SO...we have a "breakout" on heavy volume...a recipe for "higher highs"
In my portfolio :
Sold RIMM
Sold VMW
Sold LVS
Portfolio is long AAPL,BIDU,AMZN,ARUN
Short LVS @ $37.35....I know its daring but will be out with some profit..hopefully
VIX Down 7.52% @ 21.76
AH Futures UP
AH Asian markets UP
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
NOW...back to business @ hand..S&P 500 went to 1162.76 & closed @ 1160.75.....far far above much talked about 1150 "top of the trading range".....Doug Kass call for TOP @ 1130 also stand crushed.....
RSI in S&P 500 stand @ 65.30..room for further jump.....
Internals of the markets were "smoking"
Volume was the heaviest in all Indices......
SO...we have a "breakout" on heavy volume...a recipe for "higher highs"
In my portfolio :
Sold RIMM
Sold VMW
Sold LVS
Portfolio is long AAPL,BIDU,AMZN,ARUN
Short LVS @ $37.35....I know its daring but will be out with some profit..hopefully
VIX Down 7.52% @ 21.76
AH Futures UP
AH Asian markets UP
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Indices UP 1.58% to 2.10%...NICE !!!!
Stocks are surging @ a fast clip.....
Bank Of Japan & service sector stat gave a huge boost....
Indices UP close to 2%....
S&P 500 went to 1158.82 ..higher high..RSI @ 64.60
Gold UP $21.80...new high
Oil UP $1.19
Canadian $ UP 55 tick 98.28..highest level in more than one year...
VIX Down 6.97% @ 21.89
In my portfolio :
Bought ARUN @ $20.75
Sold SNDK
Portfolio is ARUN,AAPL,AMZN,BIDU,VMW,RIMM,LVS.....
Most stocks are UP
BLOG does NOT give buy or sell.
Saleem
Bank Of Japan & service sector stat gave a huge boost....
Indices UP close to 2%....
S&P 500 went to 1158.82 ..higher high..RSI @ 64.60
Gold UP $21.80...new high
Oil UP $1.19
Canadian $ UP 55 tick 98.28..highest level in more than one year...
VIX Down 6.97% @ 21.89
In my portfolio :
Bought ARUN @ $20.75
Sold SNDK
Portfolio is ARUN,AAPL,AMZN,BIDU,VMW,RIMM,LVS.....
Most stocks are UP
BLOG does NOT give buy or sell.
Saleem
Monday, October 4, 2010
All Indices closed down.....
Indices were under pressure with high profile downgrade of MSFT & AXP issue with DOJ....
By close indices gave up from .72% to 1.11%.....Nasdaq being the weakest....
Internals were weak as listed below :
Down volume led by 3.66 to 1 in NYSE & 3.45 to 1 in Nasdaq
Declining stocks led by 2.63 to 1 in NYSE & 2.72 to 1 in Nasdaq
New 52 wk high shrank to 124 in NYSE & 54 in Nasdaq
In terms of technicals.... support in S&P is in 1120 to 1130 range.....
Strong stocks which closed green included LVS,AMZN,POT,IBN,
SOHU,RVBD,FUQI......
AH Futures UP
AH Asian markets Down
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
By close indices gave up from .72% to 1.11%.....Nasdaq being the weakest....
Internals were weak as listed below :
Down volume led by 3.66 to 1 in NYSE & 3.45 to 1 in Nasdaq
Declining stocks led by 2.63 to 1 in NYSE & 2.72 to 1 in Nasdaq
New 52 wk high shrank to 124 in NYSE & 54 in Nasdaq
In terms of technicals.... support in S&P is in 1120 to 1130 range.....
Strong stocks which closed green included LVS,AMZN,POT,IBN,
SOHU,RVBD,FUQI......
AH Futures UP
AH Asian markets Down
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Indices Down from .92% to 1.40%......
Indices are down up to 1.4%..Nasdaq being the weakest......
S&P 500 went down to 1131.87 near support & is turning higher....RSI is @ 55.67..attractive buy zone.....
Today's trading is very typical of HFT playing "support & resistance".....
Buying on weakness works.......
Gold Down $3.10
Oil UP 23 cents
Canadian $ Down 39 tick to 97.67
In my portfolio :
Bought RIMM @ $50.00
Portfolio is AAPL,AMZN,BIDU,VMW,RIMM,LVS,SNDK.....
Most stocks are down.....
VIX UP 7.96% @ 24.29....
@ 12.35 following are Green :
LVS,AMZN,WYNN,RVBD,POT,IBN,SOHU,V,
RCI,FUQI,GAME...
BLOG does NOT give buy or sell.
Saleem
S&P 500 went down to 1131.87 near support & is turning higher....RSI is @ 55.67..attractive buy zone.....
Today's trading is very typical of HFT playing "support & resistance".....
Buying on weakness works.......
Gold Down $3.10
Oil UP 23 cents
Canadian $ Down 39 tick to 97.67
In my portfolio :
Bought RIMM @ $50.00
Portfolio is AAPL,AMZN,BIDU,VMW,RIMM,LVS,SNDK.....
Most stocks are down.....
VIX UP 7.96% @ 24.29....
@ 12.35 following are Green :
LVS,AMZN,WYNN,RVBD,POT,IBN,SOHU,V,
RCI,FUQI,GAME...
BLOG does NOT give buy or sell.
Saleem
Sunday, October 3, 2010
WHY S&P 500 is staying above 50/200 DMA in Sep ???
IF you look @ S&P 500 chart since May of this year......you will observe that S&P 500 is staying above 50 & 200 DMA in the month of Sep 2010 with solid certainty & we are continuing this chart pattern in Oct also.....
SO..the logical question IS...why charts are becoming stable & strong......????
Charts are telling us that there is lot more conviction in this market from strong hands like institutions & hedge funds that is NOT obvious to many chartists.....
Many chartists are still fearful of this market & are pointing to imminent fall because of lower volume compared to previous rally in early part of the year....
When markets are "stable & pointing upwards" one should pay attention......
When markets do not fall on weak economic data..one should pay attention.......
Carter Worth famed chartist from Oppenheimer did not see S&P 500 going above 1140...facts are we touched 1157.16 well above Carter prediction.....also we are firmly above his target of 1140..we closed @ 1146.24 ????
SO..the question is...why these TV Gurus get it so wrong most of the time...talking of Gurus Doug Kass called the top @ 1130....????Doug Kass has a history of calling TOP which never materializes..his previous rant for TOP was @ 1000 in S&P....???
SO..if you are planning your trading/investing decision based on CNBC Gurus...you MAY be leaving lot of money on the table....
NOW..you may ask why we keep making "higher highs" ?????
Answer most of the time lies in sentiment of retail ...which has been pulling money out for straight 21 weeks..outflow in September alone was $12.2 billion..all data is from Trim Tab.....
Buying when Retail is fearful & selling has proven to be a very good strategy.....conversely selling when retail is euphoric is also a good strategy...works most of the time except in "bubble era"...
OK..so what do we expect going forward......????
Q4 is generally a positive Q..based on history where 5% gain is to be expected..beats money market by several %.....
I personally see us working towards 1200 to 1220 area by the end of Q4....
YES..there will be pullbacks of 3% along the way with minor resistance around 1170..BUT it will pay to be "in the market"
Many stocks are out-performing the market......
It will be wise to stay in stronger stocks than weaker ones....do not hunt for bargain..wait may be lot longer before you see decent return......
SO..stay in this market in a diversified format & IGNORE all the NOISE about S&P 500 going down to 1060 then 950 area.....
Good luck in your OWN due diligence.
Do NOT forget to book profit which is CRITICAL in this HFT trading environment.
BLOG does NOT give buy or sell.
Saleem
SO..the logical question IS...why charts are becoming stable & strong......????
Charts are telling us that there is lot more conviction in this market from strong hands like institutions & hedge funds that is NOT obvious to many chartists.....
Many chartists are still fearful of this market & are pointing to imminent fall because of lower volume compared to previous rally in early part of the year....
When markets are "stable & pointing upwards" one should pay attention......
When markets do not fall on weak economic data..one should pay attention.......
Carter Worth famed chartist from Oppenheimer did not see S&P 500 going above 1140...facts are we touched 1157.16 well above Carter prediction.....also we are firmly above his target of 1140..we closed @ 1146.24 ????
SO..the question is...why these TV Gurus get it so wrong most of the time...talking of Gurus Doug Kass called the top @ 1130....????Doug Kass has a history of calling TOP which never materializes..his previous rant for TOP was @ 1000 in S&P....???
SO..if you are planning your trading/investing decision based on CNBC Gurus...you MAY be leaving lot of money on the table....
NOW..you may ask why we keep making "higher highs" ?????
Answer most of the time lies in sentiment of retail ...which has been pulling money out for straight 21 weeks..outflow in September alone was $12.2 billion..all data is from Trim Tab.....
Buying when Retail is fearful & selling has proven to be a very good strategy.....conversely selling when retail is euphoric is also a good strategy...works most of the time except in "bubble era"...
OK..so what do we expect going forward......????
Q4 is generally a positive Q..based on history where 5% gain is to be expected..beats money market by several %.....
I personally see us working towards 1200 to 1220 area by the end of Q4....
YES..there will be pullbacks of 3% along the way with minor resistance around 1170..BUT it will pay to be "in the market"
Many stocks are out-performing the market......
It will be wise to stay in stronger stocks than weaker ones....do not hunt for bargain..wait may be lot longer before you see decent return......
SO..stay in this market in a diversified format & IGNORE all the NOISE about S&P 500 going down to 1060 then 950 area.....
Good luck in your OWN due diligence.
Do NOT forget to book profit which is CRITICAL in this HFT trading environment.
BLOG does NOT give buy or sell.
Saleem
Saturday, October 2, 2010
Buy rated stocks.....
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
WIT,IBN,HDB,INFY,CNTF,CSKI,
CGA,CAAS,NTES,PWRD,SU,SNCR,
IVAN,CSTR,HLIT,PAAS,C,MT....
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
WIT,IBN,HDB,INFY,CNTF,CSKI,
CGA,CAAS,NTES,PWRD,SU,SNCR,
IVAN,CSTR,HLIT,PAAS,C,MT....
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, October 1, 2010
All Indices closed green.....NICE !!!!
Indices are showing very good TAPE action which quickly defied my pre-open scenario....SO i adjust in nano-second to benefit from next week TAPE......
Internals of the market were positive....
After UP DOWN UP... in S&P 500.... it closed @ 1146.24...RSI @ 62.49
I will list buy rated stocks by noon Saturday.
BLOG does NOT give buy or sell.
Saleem
Internals of the market were positive....
After UP DOWN UP... in S&P 500.... it closed @ 1146.24...RSI @ 62.49
I will list buy rated stocks by noon Saturday.
BLOG does NOT give buy or sell.
Saleem
Nasdaq struggling while S&P 500 & Dow green....
Market behaved in a predictable manner first UP to 1150.30 then Down to 1139.42...BUT found support there..currently S&P 500 is @ 1143.38.....
It is important to have a feel of the TAPE & react accordingly.....sometimes i do daytrade so I play the direction or anticipate the direction......
I had a sell order in all of my position but missed all by few cents......i was expecting a bigger jump @ open to 1155 area.....
Market is being supported by buying.....
Gold UP $9.00
Oil UP $1.05
Canadian $ UP 74 tick @ 97.86..highest level in a year....
Portfolio is AAPL,BIDU,AMZN,LVS,VMW,SNDK.....
@ 12.30 following are among green :
LVS,VMW,SNDK,GOOG,RVBD,AGU,IBN,
ISRG,GS,CNQ,TCK,FMCN,ICE,CCJ,NTES,
ABX....
BLOG does NOT give buy or sell.
Saleem
It is important to have a feel of the TAPE & react accordingly.....sometimes i do daytrade so I play the direction or anticipate the direction......
I had a sell order in all of my position but missed all by few cents......i was expecting a bigger jump @ open to 1155 area.....
Market is being supported by buying.....
Gold UP $9.00
Oil UP $1.05
Canadian $ UP 74 tick @ 97.86..highest level in a year....
Portfolio is AAPL,BIDU,AMZN,LVS,VMW,SNDK.....
@ 12.30 following are among green :
LVS,VMW,SNDK,GOOG,RVBD,AGU,IBN,
ISRG,GS,CNQ,TCK,FMCN,ICE,CCJ,NTES,
ABX....
BLOG does NOT give buy or sell.
Saleem
Went long AMZN,BIDU & AAPL......
I am long AAPL @ $281.50,AMZN @ $153.50 & BIDU @ $99.50
Current portfolio is Long.... AAPL,BIDU,AMZN,LVS,VMW & SNDK......
BLOG does NOT give buy or sell.
Saleem
Current portfolio is Long.... AAPL,BIDU,AMZN,LVS,VMW & SNDK......
BLOG does NOT give buy or sell.
Saleem
My trading plan after open.....
I will be selling into any strength @ open......
Also I am planning to go short on some high fliers.....
In my book high fliers are BIDU,AAPL & AMZN.....
Markets are lofty & need a rest ...pressure will be to the downside....
BLOG does NOT give buy or sell.
Saleem
Also I am planning to go short on some high fliers.....
In my book high fliers are BIDU,AAPL & AMZN.....
Markets are lofty & need a rest ...pressure will be to the downside....
BLOG does NOT give buy or sell.
Saleem
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