All indices closed lower.....

Market is trying to digest European debt crisis, which has resulted in lower Euro = Higher US$..

This is the reverse of what was happening before when US$ was heading lower & lower......

Considering the above chaos in currencies,S&P 500 seems to be holding its own.S&P 500 closed @ 1180.55,low @ 1174.14 while 50 DMA is @ 1178.07........

So far the technical picture is intact,while declines were in the lead in all indices by a ratio of over 2 to 1 on the downside.....

Wed close should end the debate IF this correction is over.....

Chinese PMI came in better than consensus.....actual 55.2 vs expectations of 54.7......

Chinese input cost were hotter @ 73.5 vs 69.9 previous month.....this is like PPI...which puts inflation hotter & MAY result in further tightening.

In my portfolio :

Sold NFLX

Portfolio is AUY,BIDU,FFIV,JKS,AAPL,AMZN,LVS...

Stocks which were UP 2% or more included AUY,NFLX,SLW,ISRG,TCK,
RIMM.....

Solar stocks were in deep trouble thanks to Euro weakness..some were down from 7% to 9%...

AH Futures Mixed

AH Asian markets Down

AH Oil UP

AH Gold UP

BLOG does NOT give buy or sell.

Saleem

Higher lows in S&P 500.....Technically strong picture !!!!

S&P 500 is making higher lows two days in a row,now making a run for green...

Bull market TAPE is always like this ,weak in AM then getting stronger by close.

Gold UP $22.70

Oil Down 46 cents

Canadian $ Down 57 tick @ 97.52 due to weak Canadian GDP....

Portfolio is AUY,BIDU,FFIV,JKS,AAPL,AMZN,LVS,NFLX

VIX 22.48 UP 4.41%

@ 1.29 following are green :

NFLX,AUY,LVS,WYNN,SLW,POT,TCK,
ISRG,M,X,GG,MA,LEN,CTRN,LULU,
AEM,ABX,RIMM.....

BLOG does NOT give buy or sell.

PS..was tied up in phone calls,thus delay in posting.

Saleem

Only .14% to .37% pullback @ close...NICE !!!!

This bull market showed its resiliency again by erasing most of the losses by close.How we close is absolutely critical in any market.

S&P 500 found support above previous low of 1173......we closed @ 1187.76..RSI @ 49.17.
S&P 500 also closed above 50 DMA of 1177.31.....we have NOT closed below 50 DMA since end of August......

Today had the feel of selling getting exhausted.Buying on weakness is a strategy which i have followed & stocks that are NOT working out as planned should be sold.

In my portfolio :

Bought LVS @ $49.50

Portfolio is AUY,BIDU,FFIV,JKS,AAPL,AMZN,LVS,NFLX......

As you can clearly see, that i have high comfort level with this market.Sometimes i get sloppy with some weak stocks then wake up on a day like today to prune them out.Another strategy which i have been very successful is to trade in & out of many strong stocks which has high volatility like AAPL......

SO IF you are tracking my portfolio, please keep in mind that i may sell into strength or IF i find a better trading idea.It is never a reflection about how i feel about that particular stock,I may buy the same stock next day IF price is right based on charts.

This market is like dot.com days of 1998-2000,thus trading extremely high beta stocks are highly desirable...that is what i am getting into.High RSI are not necessarily bad in this type of market.

Strong stocks which were UP 1% or more included AMZN,NFLX,SLW,IBN,X,CREE,TCK,BAC,
NVTL.....

Before open TSL reports,expecting a beat & upbeat commentary about upcoming Q & higher guidance......

AH Futures Down

AH Asian markets Down

AH Gold,Oil Down

AH Silver UP

BLOG does NOT give buy or sell.

Saleem

S&P 500 made double bottom ?

S&P 500 went down to 1173.64 higher than previous low of 1173......maybe we have a double bottom....

YES..it is all about European Debt.......

Gold UP $3.40

Oil UP $1.37

Canadian $ Down 12 tick @ 97.72

In my portfolio :

Sold AGU

Sold WYNN

Bought AMZN @ $179.80

Bought AAPL @ $313.59

Doubled my position in JKS @ $25.83

Portfolio is AUY,BIDU,FFIV,JKS,AAPL,AMZN,NFLX....

Most stocks are down

VIX @ 22.95 UP 3.29%

@ 12.16 following are Green :

NFLX,AMZN,AUY,SLW,FMCN,SINA,
CTRN,AEM,SNE,GS,IBN...

BLOG does NOT give buy or sell.

Saleem

Will Europe & Korea put pressure on Wall Street?

Wall Street is bracing for European debt crisis to boil over & Korean peninsula to light another fire......

I personally believe that Wall Street last week showed tremendous resiliency even in thin trading.....

Wall Street lost about 1% for the week when faced with news from China,Europe & Korea.....that is saying a lot about the strength of this market.....

Retail sales picture will play a larger role in how we trade next week......

Even when we are facing slight downward pressure in market, many strong stocks are making new highs.....

As this IS a strong bull market,buying strong stocks on down days are proving to be a smart move.....so any weakness should be bought.

IF we look @ S&P 500 i expect it to find strong support in 1170 area..RSI @ 49.90 is quite compelling.S&P 500 closed @ 1189.40

Retail traders have remained negative on the market & has pulled cash out for 28 straight week..latest week they pulled $2.8 billion in cash......it is hard to interpret why retail are so negative for 7 months while markets have gone straight UP from May low of 1010.91.Retail are a real contrary indicator...???

Hedge funds have been marking time also & MAY jump in when they feel markets is not going lower...could be a very strong finish to end of the year...i am expecting new highs in S&P 500 & Dow by end of December......

IF you are trying to analyze this market & draw a comparable...look to 1998 to 2000 chart of Nasdaq when Nasdaq went from 1500 to 5000 area in a span of two years......no markets are identical but can give you some idea.......

Technology stocks are making all time highs on a daily basis & should continue to do so......

SO..either you can worry all about Europe & Korea or use any weakness to position in better stocks.......

December will be a very strong month on a historical basis.

Ensure that your portfolio is positioned for strong gains.....

Good luck with your OWN strategy & homework.

BLOG does NOT give buy or sell.

Saleem

Buy rated stocks.....

Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.

JDSU,MELI,DAL,UAL,KNOT,MIPS,
DNN,NCTY,RMBS,SIMO,HST,KKD,
NUAN,SNDK,NM,RBY,LTXC,USU,
AAU......

Next post by noon Sunday.

BLOG does NOT give buy or sell.

Saleem

Europe & Korea caused negative close....

Indices closed down .34% to .85% based on renewed fear about Debt in Euro Zone,Korea also played a role in downward pressure.....

Gold Down $10.00

Oil Down 8 cents

Canadian $ Down 99 tick @ 98.06

VIX UP 13.6% @ 22.22

In my portfolio :

Sold AAPL

Sold LVS

Sold 50% AGU

Bought JKS @ $27.00

Bought NFLX @ $188.60

Portfolio is AGU,AUY,BIDU,FFIV,JKS,NFLX,WYNN

Most stocks were Down

@ close following were UP :

NFLX,BIDU,CRM,AKAM,FFIV,AAPL,
JDSU,FNSR,ARUN,MGA,JRCC...

BLOG does NOT give buy or sell.

PS...Next post by noon Saturday.

Saleem

Strong close in all indices...NICE !!!!

Many strong stocks closed @ new 52 wk highs today.

Internals of the market was "super strong"

In my portfolio :

Sold JKS

Doubled my position in AUY @ $11.36

As Canadian & World markets are open on Thursday..the switch was done for trading in Canada.I have AGU & AUY which will trade in Toronto.

Portfolio is AAPL,AUY,AGU,BIDU,FFIV,LVS,WYNN.......

AH Futures are Down

AH Asian Markets UP

AH Oil,Gold & Silver Down

Markets have given one more reason to be thankful for this Thanksgiving holiday.

Enjoy your Thanksgiving with family & friends.

There will be no post on Thursday.

BLOG does NOT give buy or sell.

Saleem

Market back on track..UP 1.86%...NICE !!!!

Market gave a great buying opportunity again yesterday.

Nasdaq is leading the charge UP 1.86%.

Gold Down $6.10

Oil UP $1.90

Canadian $ UP 1.22 cent @ 98.96

In my portfolio :

Bought AUY @ $11.42

Portfolio is AAPL,AGU,AUY,BIDU,FFIV,JKS,LVS,WYNN.....

Most stocks are UP

VIX Down 8.34% @ 18.91

@ 12.24 following are RED :

NFLX,IBN,CRUS,IAG,BRCD,OPEN,CBRL....

BLOG does NOT give buy or sell.

Saleem

S&P 500 held support AGAIN...NICE !!!!

I know ...the above headline may disturb some as "overly optimistic"...BUT S&P 500 low today was 1176.91..well above previous low of 1173.00 reached 6 trading days ago...50 DMA is 1173.30....

SO..with artillery being exchanged in Korean Peninsula,we held support.This is what a "strong bull market does"

RSI in S&P 500 is @ 45.89,what is not to like about this market...

YES..internals of the market today was negative,but that was more of panic reaction to Korea.

VIX UP 12.3% to 20.63...

Did you notice that Gold had an anaemic reaction to Korea & Gold stocks refuse to go UP,that was a tell tale of "no real conflict"...North Korea said that their reaction was in response to joint military exercise near their shore......

In my portfolio :

Bought LVS @ $49.00

Portfolio is AGU,AAPL,BIDU,FFIV,JKS,LVS,WYNN.....

AH Futures UP

AH Oil UP & Silver UP

AH Gold Down

AH Asian Markets Mixed

BLOG does NOT give buy or sell.

Saleem

Korea tension taking a toll...indices Down up to 1.69%

North & South Korea are @ it again,old enemies looking for another fight......

Indices are down up to 1.69%.....

Gold UP $16.80

Oil Down 77 cents

Canadian $ Down 62 tick @ 97.52

In my portfolio :

Sold KGC

Sold EGO

Bought AAPL @ $309.30

Bought JKS @ $25.77

Portfolio is AGU,FFIV,JKS,AAPL,WYNN,BIDU....

Most stocks are down.....

@ 12.26 following are green :

JKS,CRM,NFLX,M,SNDK,JASO,CRUS,LULU,
ABX.....

BLOG does NOT give buy or sell.

Saleem

Nasdaq strong while other indices cut losses...NICE !!!

Nasdaq was the "superstar" in today's tape.Nasdaq closed green in a negative news environment.Dow & S&P 500 recovered most of their losses.

Internals of the market was mostly positive.

Strength of this market is evident @ close.

On a humorous note, Doug Kass after many wrong calls about market is predicting shutdown of NYSE for days due to cyber attack.IF this does not pan out, he will predict invasion of this earth by aliens...for sure he sounds desperate to support his top of this market @ 1000 first then again @ 1130 ????

Stocks which were UP 2% or more included WYNN,LVS,FFIV,
AMZN,NFLX,PCLN,AAPL,RVBD,SLW,HL,SOHU,M,CRM,CIEN,
FMSR,SOL,SOLF,FUQI,SNDK,CRUS,ARUN,NVTL......

AH HPQ ER was a beat & guide UP,stock UP 2.68%

AH Futures Down

AH Asian markets Mixed

AH Oil Down

AH Gold & Silver UP

BLOG does NOT give buy or sell.

Saleem

Indices lower by .46% to 1.11%....

Market is backing off after Ireland bailout.

Nasdaq was green, but gave up gains.Many strong stocks are UP sharply...

Gold UP 70 cents

Oil Down 94 cents

Canadian $ Down 41 tick to 97.94

Portfolio is AGU,BIDU,EGO,FFIV,KGC,WYNN....

Stocks are mixed....

VIX UP 11.03% @ 20.03

@ 1.20 following are green :

AGU,FFIV,KGC,WYNN,EGO,NFLX,AAPL,AMZN,
LVS,PCLN,RVBD,SLW,MGA,SOHU,M,CTRN,
SOLF,CRM,LULU,CRUS,FUQI,ISRG,IBN,CIEN,
SOL,SNDK,NVTL.

BLOG does NOT give buy or sell.

Saleem

Market trend is UP......

Since end of August,market has established a strong "bull mode".

Many participant of this market have failed to recognize that bull market TAPE is different from bear market TAPE......

IF you are well diversified in many strong sectors,there is no need to lose sleep over minor corrections....

We just witnessed 4.4% correction in S&P 500 which lasted 7 trading days......

RSI in S&P 500 went from 80 to 48 in a hurry,currently 55.62.

Strong support in a bull market is established around 50 DMA.......we came down to 1173.00 while 50 DMA is 1170.59......

Gold which is in a "mother of all rally" touched 50 DMA also since August...50 DMA 130.53 we went down to 129.83 four days ago......currently @ 132.20......all bull market gives you an entry point if you closely watch it & act quickly......

Gold stocks for the most part have NOT benefited from record gold prices, as many were expecting gold to pull back.

Many gold stocks are trading near 3 years ago prices when gold was less than $1,000.....I expect gold stocks to move stronger than gold prices,as their profitability is much higher than anytime in their history.Lower Natural Gas prices also helps gold mining companies.

Silver also came near 50 DMA of 23.12,currently 26.74, silver TAPE is much stronger than gold.SLV is a good ETF to track silver moves.

The point i am trying to make that :

-It is a major bull market

-Pullbacks to ascending 50DMA is the best buying opportunity.

-Sector rotation is in vogue.....RVBD,FFIV stronger while AAPL,BIDU,AMZN weaker... means later should move NOW......

-Laggards like Gold stocks should move sharply higher....

-Casino stocks also pulled back near 50 DMA & is now on its way to making new highs.....

Bottom line is, IF you see 10% correction in strong stocks ..it is prudent move to buy quickly.

This is a 3.5 day week,closed on Thursday & closing @ 1PM on Friday......history tells us that we should be down this week......BUT "bull market" thesis tells me that we should move UP to challenge HIGHS......

I expect this bull market to take us into new "all time highs in Dow & S&P 500 quickly" & Nasdaq with some struggle as Nasdaq went sky high in Dot.Com euphoria...5000++ will be here but much later than S&P 500 & Dow new all time highs.....

SO, get to know your stocks & get out quickly IF they change direction.We only have to be right 51% of the time to make money.IF you are batting HIGHER than 51% then you are way ahead of the game.

Good luck in your sector & stock selection,you can beat "expectations" by being ahead of the pack.

BLOG does NOT give buy or sell.

Saleem

Buy rated stocks.....

Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.

BRCM,CRUS,LSI,TQNT,PXLW,CY,OVTI,
NUAN,CTXS,N,KONG,CMED,RT,LIZ,BOOM,
PAL,MFN,ACI.....

Next post by noon Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed green AGAIN...NICE !!!!

Indices closed green again despite negative news from China about 5th reserve increase in banking system.

Strength of any market is determined by how we trade in reaction to negative news & how we close.

Internals of the market were positive two days in a row.....

Stocks that were UP 2% or more included WYNN,LVS,CRM,
X,RVBD,NFLX,SOL,JASO,CRUS,SNDK,RIMM....

By noon Saturday,will list some trading ideas.

BLOG does NOT give buy or sell.

Saleem

Nasdaq green on Option Expiry.....

Option expiration is putting negative pressure in markets......

Nasdaq is green,other indices are slightly lower.

Gold Down $6.80

Oil Down 63 cents

Canadian $ UP 4 tick @ 98.16

In my portfolio :

Bought EGO @ $16.93

Portfolio is AGU,BIDU,EGO,FFIV,KGC,WYNN

WYNN is trading ex dividend of $8 per share,still UP $1.62 after adjusting for $8.....

Most stocks are UP

@ 1.33 following are RED :

AGU,EGO,GM,MGA,AAPL,GOOG,AMZN,
PCLN,IBN,SOHU,ISRG,SINA,SNDA,NTES,
GAME,MFC,SPWRA....

BLOG does NOT give buy or sell.

PS..was tied up on phone,thus delay in BLOG.

Saleem

Indices closed UP 1.54% to 1.57%...NICE !!!!

Indices had a strong reversal to the tune of 1.57% on high volume.......indices were deeply oversold based on RSI....

VIX Down 13.83% @ 18.75

Internals of the market were strong......

Strong stocks which were UP 3% or more included WYNN,FFIV,LVS,
AMZN,SLW,POT,MA,TCK,CNQ,RVBD,JDSU,CIEN,ARUN,EBIX,NVTL,
GM......

AH CRM ER was a beat, stock UP 10.39%

AH DELL ER was a beat,stock UP 5.38%

AH Futures UP

AH Asian markets Mixed

AH Oil & Gold UP

BLOG does NOT give buy or sell.

Saleem

Market back on track,UP almost 2%...NICE !!!!

Indices are UP from 1.69% to 2.02%,Nasdaq being the strongest.

Gold UP $14.20

Oil UP $1.28

Canadian $ UP 56 tick @ 98.28

In my portfolio :

Sold SOLF

Bought KGC @ $17.80

Portfolio is AGU,BIDU,FFIV,KGC,WYNN

Most stocks are UP....

BLOG does NOT give buy or sell.

Saleem

Indices lost 4.4% in this "correction"......

S&P 500 lost 4.4% @ low of the day which was 1173......we closed @ 1178.34 which reflected buying support.......

I personally believe that 5% is max for this correction on an intraday basis.......

In any "strong bull market" corrections are sharp & swift......

Internals were "horrible" today as listed below :

Down volume led by 14.32 to 1 in NYSE & 9.66 to 1 in Nasdaq

Declining stocks led by 6.50 to 1 in NYSE & 3.94 to 1 in Nasdaq

Only 19 new highs & 137 new lows in NYSE, 31 new highs & 60 new lows in Nasdaq

Volume was above normal.......

All of the above adds up to "capitulation"......which means "reversal" imminent

I will not be surprised IF we close green on Wednesday.......

AH SINA ER was a beat but guidance soft....AH stock down 4.14%

AH POT announced $2 Billion buyback to end in next 44 days....AH stock UP .82%

AH Futures UP

AH Asian markets Down

AH Oil & Gold UP

BLOG does NOT give buy or sell.

PS.....There will be no post on Wednesday as Muslims all over the world are celebrating "festival of sacrifice".......I will be busy with friends & family.

Saleem

S&P 500 Down 4.3% @ low of the day.....

Market has corrected deeply and is getting close to 50 DMA....we have corrected 4.3% in S&P 500 already..RSI has tumbled to 44.15......

This is a normal correction in a "strong bull market"....

Gold Down $35.30

Oil Down $2.38

Canadian $ taking it on the chin..Down 1.43 cents @ 97.59

Portfolio is AGU,FFIV,BIDU,SOLF,WYNN.....

Most stocks are down....

VIX UP 13.71% @ 22.97

BLOG does NOT give buy or sell.

Saleem

Mixed close in Indices....

Fear of US Credit downgrade took a toll ,indices gave up most of the gains....Dow was the lone green....

Internals were slightly negative......

Stocks that were green included WYNN,SOLF,LVS,GS,TSL,
IBN,YGE,ISRG,BCSI,CRUS,F....

AH Futures Down

AH Asian markets Mixed

Oil & Gold Down

BLOG does NOT give buy or sell.

Saleem

Indices GREEN AGAIN......NICE !!!!

Indices are green AGAIN.....email Guy Adami WHY????

Adami is batting 0-1000..anytime he is sure market is going down,we turn UP immediately..great contrary indicator since 666.....

Some traders are wondering why we are UP ???

Answer....Technical 101..it is a "strong bull market"......

Any pullback or weakness is a buying opportunity....

Many stocks/sectors are rotating on a weekly basis.....again buying on weakness pays !!!!

Gold UP $5.30

Oil UP 36 cents

Canadian $ UP 54 tick to 99.31

Portfolio is AGU,FFIV,BIDU,SOLF,WYNN.....

Stocks are mixed....

@ 12.36 following are green :

WYNN,SOLF,LVS,AAPL,GS,TSL,RCI,TCK,
IBN,ISRG,CCJ,MA,V,CREE,BCSI,FMCN,
SINA,CSIQ,CTRN,ICE,SNE.....

BLOG does NOT give buy or sell.

Saleem

Afraid of this market ????

We have just witnessed 2 days of correction in last few days & everyone is afraid & fears the worst???

IF we take any index,we are down 3.34% in Nasdaq.....

Dow is Down 2.7% & S&P 500 also 2.7%....all these stat is factoring absolute high & low of the day in all indices......

None of the index closed @ low of the day ???

Volume was @ best average in this selling ????

Most traders/investors were used to index going UP everyday since August lows.....nothing goes UP forever & a PAUSE is technically healthy......

Those who follow history, will recall that back in Oct 2007 S&P 500 was @ 1549.38.....then we were greeted by financial meltdown & we went to 666 in a hurry.We lost 883 points or 57%......since March of 2009 we have worked our way to recouping most of that loss in 20 months..so last 36 months we have actually lost 322 points or 20.78%........

SO..the question is .....what is causing all this recovery in financial markets??

Answer lies in worldwide economic recovery which IS gathering steam......

China,Asian,South American economies are in overdrive.....

Europe & US is in slow recovery mode......

Bottom line is ,that there was a reason that we went DOWN & there IS a reason that we are going UP.....Computers & HFT follow the trend very well.....

SO...try to understand the "mechanics" of wall street rationale......

In my opinion,this is a "strong bull market" which is there to take advantage of......

YES..there will be corrections along the way of 5% average,but none of us are smart enough to time these corrections & get back in......

Currently markets are looking attractive based on RSI as listed below :

Dow 53.15

Nasdaq 55.90

S&P 500 56.13

These are definitely better than 80 we were touching few days back??

Can we go lower..sure....

BUT not all stocks go lower with markets......

SO,instead of worrying about depth of correction..try to buy good stocks @ deflated prices......

I am expecting markets to make new highs in next 12 months......

Good luck with your OWN strategy !!!!!

BLOG does NOT give buy or sell.

Saleem

RSI based buys.....

Following stocks are currently attractive based on RSI.They are all currently below their average RSI.Please do your OWN due diligence by checking FA/TA/TAPE.

AGU 40.80
BIDU 58.17
SOLF 35.09
WYNN 59.99
AAPL 52.21
AMZN 52.14
TSL 35.94
ARUN 57.30
EBIX 37.97
POT 41.31
FCX 61.19
GOOG 55.17
NFLX 58.01
SOL 41.16

Please be diversified in your sector & stock picks.

Next post by noon on Sunday.

BLOG does NOT give buy or sell.

Saleem

.80% to 1.46% loss in indices.....

Today was a typical pullback in a "bull market".....

Internals were almost 4 to 1 on the negative side.....

A 3% pullback after a huge run is nothing to sweat about......

I am expecting calm to return by close on Monday....

By noon Saturday,i will list some trading ideas.

BLOG does NOT give buy or sell.

Saleem

1.65% pullback in Nasdaq....

Nasdaq is taking the biggest hit today,thanks to G20 non-agreement & old news of China tightening interest rates.....

Nasdaq has pulled back from 2592.94 to a low of 2506.40,down 86.54 or 3.3%.....3% to 5% pullback is to be expected anytime .......

Gold Down $43

Oil Down $3.06

Canadian $ Down 86 tick @ 98.80

Portfolio is AGU,FFIV,BIDU,SOLF & WYNN.....

Most stocks are down....

BLOG does NOT give buy or sell.

Saleem

.42% to .90% decline in indices.....

I am sure most traders/investors were surprised @ the resiliency of this market given "so-called challenges of CSCO"

Most techs were in green or close to unchanged levels,even JNPR which is eating CSCO lunch & dinner was unfazed by close.....

I am glad that market punished CSCO only to the tune of 16%+ on 10 times volume....

Stocks wehich were UP included AGU,WYNN,BIDU,FFIV,LVS,SLW,
POT,MOS,TCK,CCJ,GS,CNQ,RIMM,DQ......

AH NVDA ER was good UP AH 4.43%

AH FNSR UP 13.39% on raised guidance for two quarters...

In my portfolio :

Sold EBIX

Added 75% WYNN @ $114.34

Portfolio is AGU,BIDU,FFIV,SOLF,WYNN.....

AH Futures Down

AH Asian markets Down

AH Oil & Gold Down

BLOG does NOT give buy or sell.

Saleem

Indices Down.71% to 1.16%....

Indices are staying near opening level thanks to CSCO......

Most stocks have recovered from their low levels..some are going green.....

What most traders/investors fail to see that CSCO is a bad version of MSFT...even MSFT has some new product going and is showing growth,but CSCO every Q talk of non-existing "challenges".....CSCO down 15.48%

Oil UP 4 cents

Gold UP $3.40

Canadian $ Down 44 tick @ 99.42

VIX UP 2.06% @ 18.85...weak move,predicting higher stock prices

In my portfolio :

Bought BIDU @ $110.48

Bought FFIV @ $118.50

Portfolio is AGU,BIDU,EBIX,FFIV,SOLF,WYNN....

Most stocks are down...

@ 12.47 following are green :

WYNN,BIDU,SLW,MCP,REE,MOS,POT,
GS,TCK,PCLN,CCJ,X,LVLT,SNDK,JRCC,
VLO,FWLT,CNQ....

BLOG does NOT give buy or sell.

Saleem

Indices closed green....NICE !!!!

Indices fought back sellers and buyers came in.All indices closed green.

Internals were strong.....

AH CSCO guidance was "horrible"...they are guiding Revenue growth of 3% to 5% vs expectations of 13%..I have not seen too many company which misses guidance by that much.CEO Chambers was giving a laundry list of excuses about their poor performance.I personally believe that Chambers who has no background in technology is NOT up to task for a long time..it is time for him to go....

CSCO stock was down 12.62% in AH volume of 42.07 million shares,it normally trades 56 million during regular hour......

AH China reported CPI & PPI hotter than expectations,which may result in further tightening of lending...Retail sales was slightly below expectations.

I am planning to add position in a weak open,thanks to serial under performer CSCO & its CEO.

AH Futures Down

AH Asian market UP

AH Oil & Gold UP

BLOG does NOT give buy or sell.

Saleem

Nasdaq green others barely down.....

So we have a 1.5 days of down day already,indices are trying for green.

Economic data worldwide are strong which justifies strong markets.....

Gold Down $15.60

Oil UP 98 cents

Canadian $ UP 64 tick @ 99.80

Portfolio is AGU,EBIX,SOLF,WYNN...

Most stocks are down.....

@ 1.11 following are green :

WYNN,RIMM,RVBD,FFIV,SLW,KGC,
AAPL,BIDU,AMZN,REE,MCP,RCI,POT,
GS,TCK,CNQ,IBN,MA,GG,X,CTRN,AEM,
ABX,FSLR,GNK,FWLT...

BLOG does NOT give buy or sell.

Saleem

Indices closed Down .53% to .81%.......

Indices were subjected to serious profit taking,closing down max .81%.S&P 500 was the weakest.

Nobody paid any attention to Nasdaq making another high today to 2592,closing @ 2562.

Internals of the market were decidedly negative,all this on higher volume....

So, Fast Money crowd becoming Panic Money in a flash..loading on Puts.....

Today's TAPE was "not unexpected",we were overdue for a 1.5 day correction & we are getting it......

RSI in Indices have come down in a big way,as listed below :

Dow 66.49

S&P 500 68.15

Nasdaq 73.08

As we are in a strong bull market,pullbacks should be bought.

Stocks which closed green today included PCLN,VMW,POT,
CCJ,ISRG,LDK,DQ,MCP,REE,MOS.....

On a day like today,i do look @ my portfolio & try to better position it; based on changing focus....

Sold AKAM... reason headline risk

Added 30% EBIX @ $25.49 based on their CC

Bought WYNN @ $114.78..has not done much since ER & announcement of $8 dividend payable to stock holders on Nov 19....also RSI much lower than LVS @ 68.87....

Portfolio is AGU,EBIX,SOLF,WYNN

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down....

BLOG does NOT give buy or sell.

Saleem

Indices down .22% to .38%.....

Indices are down slightly in a wait & see mode.....

Gold UP $16

Oil UP 6 cents

Canadian $ UP 28 tick to 99.95

Portfolio is AGU,AKAM,EBIX & SOLF.....

EBIX ER was a beat..CC was good,they do not give guidance..

SOLF doing secondary,dilution about 12%......which was a surprise.....

Stocks are mixed.....

@12.44 following are green :

AGU,LDK,LVS,SLW,KGC,AAPL,MCP,REE,
PCLN,POT,GS,SOL,CCJ,ISRG,GG,ECA,
SNDA,AEM,AUY,ABX,FWLT,JRCC...

BLOG does NOT give buy or sell.

Saleem

SOLF doing secondary 12% dilution...EOM

EBIX beats on EPS & Sales/shares UP...NICE !!!!

EBIX Sales came in @ $33.3 million vs expectations of $32.97 million

EPS came in @ 43 cents vs expectations of 32 cents

Stock in pre-market bid $27.40 ask $28.22.closed @ $26.28

CC..@ 11 AM

So far,my portfolio is Down SOLF & AKAM ,UP EBIX & AGU....

BLOG does NOT give buy or sell.

Saleem

SOLF beats & guides UP...NICE !!!

SOLF EPS came in @ 69 cents vs expectations of 49 cents

Sales came in @ $326.7 million vs expectations of $287.3 million

Guiding 785 MW vs expectations of 750 MW

Some issue with internal cell capacity thus expecting sequentially lower module shipment of 205-215 MW....

Announcing aggressive increase in capacity for 2011....

SOLF pre-market bid $11.11 ask $11.28 ,closed @ $11.47......

BLOG does NOT give buy or sell.

Saleem

Mixed close IS a victory today.....

Indices were mixed with Nasdaq closing @ its highest level .

Internals were negative.

Stocks which were UP 1% or more included AKAM,EBIX,SOLF,
BIDU,VMW,SLW,LVS,TSL,SOHU,CCJ,GG,CREE,KGC,AMCC,
JDSU,FNSR,FUQI,NVTL,BAC,WYNN,MPEL,EXPE,RIMM....

In my portfolio :

Sold KGC

Doubled my position in EBIX @ $25.99

Portfolio is AGU,AKAM,EBIX,SOLF....

AH LDK was a beat & guiding UP, stock UP 5.78%

AH PCLN was a beat & guide UP,stock UP 6.03%

AH Futures Down

AH Asian markets Mixed

AH Oil Down

AH Gold UP

BLOG does NOT give buy or sell.

Saleem

PS..post was delayed due to personal need.

Slight pullback in Indices....

Market is digesting huge gains,indices are slightly lower.....

Gold Down $9.20

Oil Down 46 cents

Canadian $ Down 29 tick to 99.69

Portfolio is AGU,AKAM,EBIX,KGC,SOLF......

AH LDK reports

Before open Tuesday,EBIX,SOLF & JASO reports

@ 11.53 following are green :

AKAM,SOLF,EBIX,KGC,WYNN,LVS,
MPEL,SLW,AAPL,BIDU,AMZN,GOOG,
RVBD,EXPE,VMW,SOHU,CCJ,GG,CREE,
SINA,SNDA,LULU,JRCC,NTES,AEM,FUQI,
MFC,FSLR,GNK,JDSU,FNSR.....

BLOG does NOT give buy or sell.

Saleem

We are in uncharted territory in markets...position accordingly !!!!!

We have entered a phase in market where a "major bull run" is in the works......

Everything which can go right IS going right with markets......

-Economy is getting healthy....

-Jobs are improving & being revised UP.....

-Gridlock in Washington......

-Fed has liquidity pedal to the metal.....

Based on the above "bullish development"..it is PRUDENT to be "super aggressive" in this market.....

Forget about booking profit...it is all systems GO.........

Stay with stocks which you are comfortable with.....be it Gold,Tech,Solar,AG,Base metals or Oil.....

Do not worry about RSI anymore but time it for better entry..like in 50+ area.......but do NOT necessarily sell when it is 70+......when they are 70+ stocks will mark time & come down in RSI...for RSI to come down stocks does not have to go down much maybe $2 down & marking time will bring it to 50++ area.....

This market TAPE has all the trapping of a major bull run...this TAPE may go down in history as the best one to buy & hold.......

All the uncertainty is out of the market & we are on a major run UP.....

Remember Nasdaq 5000......that is where we are heading.....& may take it out once it is all over....

I am expecting Dow,S&P 500 & Nasdaq to make "new HIGHS"..i am talking all time HIGHS and HIGHER.......

Stock market has a history of making serious lows & then shooting to new "all time highs"....we are in just that kind of phase.......

SO relax & enjoy this market for many years to come......

YES..there will be many pullbacks in markets along the way of 5% to 7%..but that will be nothing to worry about, as we are all set to gain 100%+ in Nasdaq from hereon.......

NO..you will NEVER hear these prediction on CNBC/Roubini/Rosenberg/Carter Worth/Doug Kass/Prechter/Adami/Jimmy the Cramer as their "Crystal Ball" is broken for a long time.....they are all stuck in 2008 mud & spinning their wheels & hardly making sense......

YES...you have heard it here FIRST.....

We are moving on UP...Northbound in a big way !!!!!

Do your OWN due diligence/ homework & ensure your OWN comfort level.

There are great stocks which are still languishing in 50+ RSI,60+ is not bad either for current TAPE & IF you are aggressive low 70 RSI can work........

Good luck with your investing/trading.

Time to make serious $$$$

BLOG does NOT give buy or sell.

Saleem

Speculative Buy......

Following stocks are @ best speculation,ensure that they do not represent more than 5% max each position.Please do your OWN due diligence by checking FA/TA/TAPE.

RT,VGZ,APWR,CBAK,DRYS,FTEK,
JASO,JDSU,SPWRA,DSX,NXY,V.....

Next post by noon Sunday.

BLOG does NOT give buy or sell.

Saleem

PS..post was delayed due to last minute needs.

Highest close in all indices...NICE !!!!

Indices fought back profit taking as buyers come in as we go lower intraday,indices are @ record close.....

This bull market is too strong to be ignored by sideline money,which will give another boost to this rally...

Internals were positive.....

VIX Down 1.4% @ 18.26

Stocks which were UP 2% or more included SOLF,PCLN,SLW,YGE,
GS,X,TCK,JDSU,FNSR,C,JASO,STP,SNDK,CRUS.....

By noon Saturday,i will list some trading ideas.

BLOG does NOT give buy or sell.

Saleem

Profit taking taking hold......

Jobs report was well above expectations,151k vs 60k.....

Market is in digestive phase of all the good news this week,we are batting 3-0

Oil Down 23 cents

Gold UP $11

Canadian $ UP 15 tick to 99.95..it was above US$ this AM....

In my portfolio :

Bought EBIX @ $25.04

Portfolio is AGU,AKAM,EBIX,KGC,SOLF

It is a mixed picture in stocks...

@ 12.30 following are green :

AGU,SOLF,EBIX,KGC,LVS,WYNN,AMZN,
FFIV,PCLN,EXPE,TCK,TSL,GS,SLW,
ISRG,X,ATML,MGA,FNSR,BAC,SNDK,
ARUN,CRUS,SINA,ICE,LULU,NTES,
MFC,FSLR,GNK,FWLT.

BLOG does NOT give buy or sell.

Saleem

Stunning rally in Wall Street...NICE !!!

Wall Street threw a party & everybody came.....when the day ended indices were UP 1.46% to 1.96%.....

Internals of the market were strong.......but not extreme to worry about any serious pullback,means more room may be left in this rally....

RSI are creeping UP..Nasdaq is @ 79.80...but these may be mild numbers if you look @ LVS RSI @ 87.37......

So.... it is all about Jobs report,which is expected to show job growth of 60,000

This market has caught most investors/traders off guard,so any weakness will be bought to fuel this rally further.....

VIX stands @ 18.52...i have seen it in single digit based on memory,another indicator that we may have further room to grow.....

Current economic stats are proving many so called "genius" like David Rosenberg who championed that after "cash for clunkers",car sales will tumble to lowest level in history...Not SO....F making series of highs ????

Carter Worth again was almost "negative bound" saying that we will be stuck & turn lower,he called the top in 1130 area alongwith Doug Kass....

Prechter called for 400 in S&P 500.....

Guy Adami did not believe any rallies since 666 in S&P 500.....

Why all these soothsayers quote are important,because you need to do your OWN homework & not follow anyone,only last week Jimmy the Cramer was predicting pullback of up to 10% ????

BUT..remember to keep booking profit and position in new trades.....

AH ER ATML was a beat & guide UP 5.38%

AH ER MGA was a huge beat & guide UP 3.96%

AH Futures Down

AH Asian markets UP

AH Oil & Gold UP

BLOG does NOT give buy or sell.

Saleem

Fed move causing worldwide rally.....

All indices worldwide are in record territory.....

Dow,S&P 500 & Nasdaq are looking in record highs....

This has been a "bull market" for a long time..so trade accordingly $$$$$$

Gold UP $39.30

Oil UP $1.31

Canadian $ UP 57 tick @ 99.74...

VIX Down 5.27% @ 18.53

In my portfolio :

Sold AAPL

Sold BIDU

Bought AKAM @ $53.10

Bought KGC @ $18.41

Added 25% SOLF @ $10.44

Portfolio is AGU,AKAM,KGC,SOLF...

Most stocks are UP

@ 12.55 following are RED :

AGU,SOLF,BIDU,FFIV,EXPE,POT,JKS,
SNDA,NTES,FSLR,JNK,VMW,SOHU,
NVTL.....

BLOG does NOT give buy or sell.

Saleem

Record close in S&P 500 & Nasdaq...NICE !!!!!

All Indices closed in green , Nasdaq & S&P 500 reached the highest level since August......

Fed QE2 was $600 billion,slightly above consensus of $500 billion...

Market was comfortable with this number as not too aggressive or not too cautious......

Strong stocks which were UP 2% or more included SOLF,AMZN,FFIV,
TSL,EGO,MA,AMCC,JDSU,CIEN,JASO,STP,SOL,NVLS,DQ,LDK,JKS.....

AH ER QCOM was a beat & guide UP,AH UP 7.18%

AH POT down 4.95% as Canadian government rejected BHP bid......

AH Futures UP

AH Asian markets UP

AH Oil & Gold UP

BLOG does NOT give buy or sell.

Saleem

Indices slightly down ahead of Fed QE2.....

Indices are slightly down ahead of QE2 verdict...expectations are $500 Billion package......which should be enough to give boost to economy.....

Gold Down $18.50

Oil UP 63 cents

Canadian $ Down 14 tick to 98.97

In my portfolio :

Added 30% SOLF @ $9.90

Portfolio is AAPL,BIDU,AGU & SOLF

AGU CC was extremely upbeat for Q4 & 1st half of 2011......Expect upgrades......

Most stocks are Down.....

VIX UP 1.11% to 21.81

@1.26 following are green :

SOLF,AAPL,BIDU,LVS,GOOG,FFIV,
JKS,SOL,LDK,DQ,CSIQ,MA,ISRG,
GOOG,JASO,SNDK,EBIX.....

BLOG does NOT give buy or sell.

Saleem

AGU Q3 EPS & Sales lower but guidance strong....

AGU reported $2.009 billion in sales vs expectations of $2.1 billion

EPS 70 cents vs expectations of 87 cents

Guiding EPS of $1.15 vs expectations of 97 cents

Extremely upbeat about their nutrient market & predicting strong prices until Spring 2011....

Pre- market AGU Bid $86.40 Ask $86.99..closed @ $87.22

CC is @ 11.30 AM....

Expecting AGU to move higher after CC.....

BLOG does NOT give buy or sell.

Saleem

Green close but Nasdaq @ record high.....NICE !!!

Indices closed green while Nasdaq made it into record close ......

Market internals were strong....

Stocks which were UP 3% or more included LVS,TSL,YGE,
X,RVBD,AMCC,FNSR,JASO,SOL,ARUN,WYNN,MCP.....

AH ER WYNN EPS was in line ,Rev UP... stock Down 3.56%

AH Futures UP

AH Asian markets UP

AH Gold Down

AH Oil UP

BLOG does NOT give buy or sell.

Saleem

All Indices Green....NICE !!!!

All indices are showing healthy gains ahead of election & Fed QE 2......

Indices are UP .73% to .94%

Gold UP $5.60

Oil UP $1.09

Canadian $ UP 51 tick @ 99.01

VIX Down 1.97% to 21.40

In my portfolio :

Bought AGU @ $87.10..it reports before open....expecting a beat & guide UP....

Portfolio is AAPL,BIDU,AGU,SOLF....

Most stocks are UP...

@ 12.59 following are RED :

AGU,POT,RIMM,MOS,MCP,REE,JKS,RCI,
BRCD,ICE,JRCC,MFC,NYX,GAME,VAR....

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

Dow & S&P 500 closed UP while Nasdaq closed down 2 points.....not bad when every pundit was so scared for this weeks event.....

Internals of the market were negative.....

Stocks which closed UP 1% or more included AAPL,LVS,JKS,
EGO,POT,IBN,CCJ,M,X,NVTL,WYNN,GOOG,MPEL....

MPEL reports before open...

WYNN reports AH.....

AH Futures UP

AH Asian markets Mixed

AH Oil & Gold UP

BLOG does NOT give buy or sell.

Saleem

All Indices green & Nasdaq @ new high...NICE !!!!

Nasdaq is leading all indices into record territory.....S&P 500 & Dow slightly below recent high....

Manufacturing is improving as per latest report.......

Oil UP $1.80

Gold Down $6.10

Canadian $ UP 54 tick to 98.63

Portfolio is AAPL,BIDU,SOLF.....

VIX UP .99% @ 21.41 ???

Most stocks are down...

@ 12.29 following are green :

AAPL,JKS,LVS,GOOG,RCI,WYNN,SLW,GS,
CNQ,TCK,AGU,POT,VMW,EGO,IBN,ISRG,
CCJ,X,BAC,NVTL,FMCN,SNDA,BRCD,LULU,
JRCC....

BLOG does NOT give buy or sell.

Saleem