All Indices are correcting after uninterrupted gains since August lows.....Nasdaq Down another 1.16%.....
This is nothing but a correction in a strong bull market,froth is gone ......
RSI in Nasdaq currently is 53.93...a strong buy zone....
I personally believe that we have seen the lows in S&P 500 which was 1271.26 & in Nasdaq which was 2686.59.....we MAY test it BUT we are very close to completing this "overdue correction"
China GDP is great news,US economic data was great..but all that got in the way of correction in the market......
Gold Down $25.20
Oil Down $2.36
Canadian $ Down 37 tick @ 100.08
VIX UP 6.41% @ 18.42 ???..signalling a turn UP in markets
Portfolio is FFIV,MGM,PCLN,RVBD....
NO..i have not sold a single share of anything !!!!
Added 33% RVBD @ $34.82....
Most stocks are Down
@ 12.26 following are green :
BAC,IBN,M,X,LEN,C,STP,SOL,FUQI,BZH,
SNDA,NDAQ,NYX,FSLR.....
BLOG does NOT give buy or sell.
Saleem
6 comments:
Saleem,
I got in MGM at $15.2. I think the reversal of this stock is imminent.
Michael
Hi Michael,
YES...MGM remains the best idea in Casino sector.....has acted relatively better than LVS & WYNN.
Good luck with MGM,RVBD,& FFIV...
Saleem
Hello
AG's came back some
I am looking to buy more here!
Also like FGP. thoughts
Best to all
Hi Madmax,
Buy what you know well as we have already hit the lows....
Saleem
Saleem,
Did we see low on FFIV (106.1) yet? Or will we expect another leg down? I hope 106.1 is low that we can see. I am holding all my FFIV for awhile. It was tempted to sell half my position on FFIV at 114 this morning, but I decide to let it ride. I am still saving some dry powder and ready to add more if it do down to 96 area. I think FFIV model is still strong. Thanks.
Michael
Hi Michael,
I strongly believe that $106 area will not be seen again.
FFIV is guiding "sequential gain in sales by 3.19% for this Q...AAPL is guiding 15% less sales sequentially...try to make sense of that.
FFIV will be more than fine..those $130 target from today looks extremely conservative...
Saleem
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