Option Expiry activity is in full swing by MM, still Indices are making new highs.
China raised reserve requirement for banks & indices are still high.....this TAPE is the most bullish i have ever seen...negative news don't matter.....even @ lofty level.
Gold UP $3.90
Oil UP $1.30
Canadian $ UP 24 tick @ 101.78..a new 3 yr HIGH
VIX Down 2.77% @ 16.13..getting close to 52 wk low of 14.86
In my portfolio :
Sold BAC
Added 50% FFIV @ $121.45
Portfolio is FFIV,F,MGM,RVBD.....
Most stocks are UP
@ 12.12 following are RED :
FFIV,MGM,F,TCK,PCLN,CMG,NFLX,AAPL,
BIDU,AKAM,MOS,POT,IBN,SOHU,CCJ,X,
LVS,CREE,AMCC,JDSU,CIEN,SNDK,NVLS,
CRUS,FNSR,BAC,SINA,CSIQ,CTRN,ICE,
VLO,TTM....
BLOG does NOT give buy or sell.
Saleem
9 comments:
Saleem,
RVBD shows its strength today. I bought back RVBD at $41. It may go higher high. ARUN got excellent ER. I remembered you played it at around 22-24?
I also added FFIV at $121.40.
Michael
Hi Michael,
ARUN is on fire'''''''
YES..it is FFIV & RVBD turn from Tuesday......
Good luck with FFIV,RVBD...
Saleem
Saleem,
It may be the time to pick up some good stocks. MM has played hard on final OE day. Do you think AG stocks such as MOS, POT, AGU.. still have more down side or they will be based from here? Thanks.
Michael
Hi Michael,
AG stocks are weak & they need to correct more.....
Many stocks are oversold..one name for you TCK....
Saleem
Saleem,
I remembered TCK and played along side with you when it was around 30's. It has been very strong. I will pick up some of it today. Thanks for the tip.
Michael
Saleem,
Dow RSI is at 78.93. Is it a good time to pick up some DXD? Thanks.
Michael
Hi Michael,
WAIT..till Dow close @ low of the day...until then TREND is UP...
I am a firm believer in NEVER fight the TAPE.....follow the TREND until trend CHANGES....
RSI can easily go to high 80....
All i am doing is booking profit to be on the safe side & doing RESET....
Just my 2 cents ....
Saleem
Saleem,
Thanks for your comments. This Bull run is so amazing. A lot of people are getting nervous and don't know when the tide is going to change. So they are either on the sideline or on the short side. I am almost fully invested. I sold and bought back the same stocks with a few dollars/share profit and used your blog as a guide and this strategy has worked really well. Last year was a good year and this year, I am already in +10%, so it is not bad at all. Thank you very much.
Michael
Hi Michael,
Thanks for your appreciative note.
I am monitoring TAPE closely...any change in TREND or in my strategy..I will post immediately.
Till then our strategy is same for NOW.
Saleem
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