Today was the 4th day of rally, But had the "most conviction" as we closed @ high of the day & volume was strong for the first time.
It was nice to see that glamour stocks were in vogue.
Internals were "super strong"
& YES...VIX closed Down 3.32% @ 15.45..52 wk low is 14.27...& YES it closed near lower end of its trading range.....
Stocks which were UP 2% or more included TZOO,
MPEL,AG,NFLX,QCOM,PCLN,ALTR,AAPL,CNQ,
JKS,LDK,JASO,TSL,APKT,SNDK,NVDA....
AH ER PVH UP 2%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold & Silver Down
BLOG does NOT give buy or sell.
Saleem
Tuesday, May 31, 2011
Indices UP .50% to .67%...NICE !!!
Indices are UP as "Greece Paranoia " abated...
Internals are positive by 50%
New 52 wk highs are in the lead by 225 to 27 in NYSE & 114 to 33 in Nasdaq
Gold Down $1.90
Oil UP $ 1.42
Canadian $ UP 91 tick @ 103.27
VIX UP .94% @ 16.13 ?
In my portfolio :
Bought CCJ @ $27.78...worlds biggest Uranium producer, stock Down on German announcement of no more Nuclear Reactor past 2022.....Germany is 5% of uranium usage......
Portfolio is CCJ,LULU & TZOO ( upgraded today to "outperform" by Morgan Keegan...)
Most stocks are UP....
@ 1.13 following are RED :
CCJ,WYNN,SVM,SLW,RVBD,FFIV,VMW,DRI,
CMG,CF,SU,RIMM,PLCM,CRM,LVS,M,CIEN,
EBIX,IGTE,FMCN,PWRD,ABX,GG,AEM,RY,
SNE,FCX......
BLOG does NOT give buy or sell.
Saleem
Internals are positive by 50%
New 52 wk highs are in the lead by 225 to 27 in NYSE & 114 to 33 in Nasdaq
Gold Down $1.90
Oil UP $ 1.42
Canadian $ UP 91 tick @ 103.27
VIX UP .94% @ 16.13 ?
In my portfolio :
Bought CCJ @ $27.78...worlds biggest Uranium producer, stock Down on German announcement of no more Nuclear Reactor past 2022.....Germany is 5% of uranium usage......
Portfolio is CCJ,LULU & TZOO ( upgraded today to "outperform" by Morgan Keegan...)
Most stocks are UP....
@ 1.13 following are RED :
CCJ,WYNN,SVM,SLW,RVBD,FFIV,VMW,DRI,
CMG,CF,SU,RIMM,PLCM,CRM,LVS,M,CIEN,
EBIX,IGTE,FMCN,PWRD,ABX,GG,AEM,RY,
SNE,FCX......
BLOG does NOT give buy or sell.
Saleem
Friday, May 27, 2011
Indices move UP lacks conviction ?
This week saw a muted snapback in indices.
S&P 500 gained 1.47% in three days of gain.
This is the-most anaemic gain i have seen in any snap back ?
CMF in all indices are almost flat to down ?
VIX was down only .68% @ close
VIX closed near upper end of trading range for today ?
All of the above is NOT giving me any confidence in the TAPE.
BUT..one can forget the anaemic TAPE & look for ideas to make money....
There can be two strategy to make quick trades, First is to daytrade for any gain.Second is to short on a daytrade basis.
Many stocks are below 50 DMA from APPL,BIDU,SOHU,SINA,
LULU,APKT,TZOO..to name few
In a WEAK market 50 DMA becomes resistance......that is where "short strategy " can be implemented.....
I personally have not employed shorting as a strategy, but i MAY be inclined to do that under current TAPE.......
So..... this market remains WEAK & difficult to make money.....
Depending on your trading style, implement defensive strategy & SMALL gain as objective.
While US markets are closed on Monday, Europe,Asia & Canada is open.
Enjoy your long weekend with friends & family.
BLOG does NOT give buy or sell.
Saleem
S&P 500 gained 1.47% in three days of gain.
This is the-most anaemic gain i have seen in any snap back ?
CMF in all indices are almost flat to down ?
VIX was down only .68% @ close
VIX closed near upper end of trading range for today ?
All of the above is NOT giving me any confidence in the TAPE.
BUT..one can forget the anaemic TAPE & look for ideas to make money....
There can be two strategy to make quick trades, First is to daytrade for any gain.Second is to short on a daytrade basis.
Many stocks are below 50 DMA from APPL,BIDU,SOHU,SINA,
LULU,APKT,TZOO..to name few
In a WEAK market 50 DMA becomes resistance......that is where "short strategy " can be implemented.....
I personally have not employed shorting as a strategy, but i MAY be inclined to do that under current TAPE.......
So..... this market remains WEAK & difficult to make money.....
Depending on your trading style, implement defensive strategy & SMALL gain as objective.
While US markets are closed on Monday, Europe,Asia & Canada is open.
Enjoy your long weekend with friends & family.
BLOG does NOT give buy or sell.
Saleem
All Indices above 50 DMA.....NICE !!!!
Indices are showing strength 3rd day in a row.
All Indices have climbed above 50 DMA...
Guy Adami is wrong again by predicting "way lower than 1294" only 3 days ago.....????
Internals are strong by more than 2 to 1....
Oil UP 14 cents
Gold UP $15
Canadian $ UP 23 tick @ 102.41
VIX Down 2.18% @ 15.74
In my portfolio :
Sold CCJ
Sold SVM
Doubled my position in TZOO @ $70.84
Portfolio is LULU & TZOO.....
Most stocks are UP
@ 1.20 following are RED :
LULU,PWRD,VMW,APKT,NFLX,
AMZN,CRM,LVS,CRUS,EBIX,TSL,
TTM,SNE,VAR.....
BLOG does NOT give buy or sell.
Saleem
All Indices have climbed above 50 DMA...
Guy Adami is wrong again by predicting "way lower than 1294" only 3 days ago.....????
Internals are strong by more than 2 to 1....
Oil UP 14 cents
Gold UP $15
Canadian $ UP 23 tick @ 102.41
VIX Down 2.18% @ 15.74
In my portfolio :
Sold CCJ
Sold SVM
Doubled my position in TZOO @ $70.84
Portfolio is LULU & TZOO.....
Most stocks are UP
@ 1.20 following are RED :
LULU,PWRD,VMW,APKT,NFLX,
AMZN,CRM,LVS,CRUS,EBIX,TSL,
TTM,SNE,VAR.....
BLOG does NOT give buy or sell.
Saleem
Thursday, May 26, 2011
Second day of gain in indices.....NICE !!!!
Indices closed UP despite many negative economic news.
Internals were super strong....
All indices are poised to take out 50 DMA...
Stocks which were UP 2% or more included CMG,LVS,
IBN,MA,JKS,STP,EBIX,IGTE,ARUN,NVDA,FFIV,
LDK,TSL.....
AH ER were greeted as follows :
MRVL UP 8.86%
BCSI Down 6.80%
OVTI Down 5.85%
AH Futures UP
AH Asian Markets Mixed
AH OIL, Gold & Silver UP
BLOG does NOT give buy or sell.
Saleem
Internals were super strong....
All indices are poised to take out 50 DMA...
Stocks which were UP 2% or more included CMG,LVS,
IBN,MA,JKS,STP,EBIX,IGTE,ARUN,NVDA,FFIV,
LDK,TSL.....
AH ER were greeted as follows :
MRVL UP 8.86%
BCSI Down 6.80%
OVTI Down 5.85%
AH Futures UP
AH Asian Markets Mixed
AH OIL, Gold & Silver UP
BLOG does NOT give buy or sell.
Saleem
Indices UP .16% to .67%....NICE !!!!
Indices fought bad economic reports & are moving UP..
Indices were oversold going into bad economic data.
Internals are positive by over 2 to 1
More new 52 wk highs in NYSE & Nasdaq
Gold Down $7.10
Oil Down 84 cents
Canadian $ Down 15 tick @ 102.11
VIX Down 5.86% @ 16.07..getting close to lower end of the range
Portfolio is LULU,SVM,TZOO,CCJ.....
Most stocks are UP
@ 2.16 following are RED :
LULU ( downgrade), TZOO, SVM,CCJ,( batting 0/4..on UP day)
PWRD,SLW,AG,AAPL,GOOG,EXPE,SOHU,V,CNQ,NVLS,
FMCN,RCI,ECA,NDAQ,MFC,NYX,FSLR,TTM,SNE,GNK...
BLOG does NOT give buy or sell.
PS..had to step out..thus delay in posting.
Saleem
Indices were oversold going into bad economic data.
Internals are positive by over 2 to 1
More new 52 wk highs in NYSE & Nasdaq
Gold Down $7.10
Oil Down 84 cents
Canadian $ Down 15 tick @ 102.11
VIX Down 5.86% @ 16.07..getting close to lower end of the range
Portfolio is LULU,SVM,TZOO,CCJ.....
Most stocks are UP
@ 2.16 following are RED :
LULU ( downgrade), TZOO, SVM,CCJ,( batting 0/4..on UP day)
PWRD,SLW,AG,AAPL,GOOG,EXPE,SOHU,V,CNQ,NVLS,
FMCN,RCI,ECA,NDAQ,MFC,NYX,FSLR,TTM,SNE,GNK...
BLOG does NOT give buy or sell.
PS..had to step out..thus delay in posting.
Saleem
Wednesday, May 25, 2011
All Indices closed green.....NICE !!!!
Indices closed UP after 3 days of selling.
Internals were positive.
VIX closed Down 4.21% @ 17.07...which was more in line with closing TAPE.
Stocks which were UP 3% or more included SVM, CCJ,
NFLX, AG, CF, CIEN, FNSR, ARUN...
AH Futures UP
AH Asian Markets UP
AH Oil, Gold & Silver UP
BLOG does NOT give buy or sell.
On a sad note Mark Haines death is a loss for investor,
as he was always asking "tough questions" to get
a balanced story.
Saleem
Internals were positive.
VIX closed Down 4.21% @ 17.07...which was more in line with closing TAPE.
Stocks which were UP 3% or more included SVM, CCJ,
NFLX, AG, CF, CIEN, FNSR, ARUN...
AH Futures UP
AH Asian Markets UP
AH Oil, Gold & Silver UP
BLOG does NOT give buy or sell.
On a sad note Mark Haines death is a loss for investor,
as he was always asking "tough questions" to get
a balanced story.
Saleem
Indices UP .22% to .47%...NICE !!!!
S&P 500 low today was 1311.80.....
Currently indices are UP.....Nasdaq is stronger.
RSI is finally trending UP, currently @ 43.42 in S&P 500
Internals are positive by 2 to 1....
How we close will determine technical health of this market. It must close @ or near high of the day ?
Gold UP $4.00
Oil UP $1.70
Canadian $ Down 4 tick @ 102.38
VIX Down 2.92% @ 17.30....this is anaemic..NOT a good indicator for bulls....it should have been down much more ?
Portfolio LULU, SVM, TZOO, CCJ
Most stocks are UP
@ 1.27 following are RED :
LULU,PWRD,BWLD,AMZN,IBN,M,
JKS,SOL,STP,LDK,EBIX,IGTE,ASIA,
RCI,TSL,FSLR.....
BLOG does NOT give buy or sell.
Saleem
Currently indices are UP.....Nasdaq is stronger.
RSI is finally trending UP, currently @ 43.42 in S&P 500
Internals are positive by 2 to 1....
How we close will determine technical health of this market. It must close @ or near high of the day ?
Gold UP $4.00
Oil UP $1.70
Canadian $ Down 4 tick @ 102.38
VIX Down 2.92% @ 17.30....this is anaemic..NOT a good indicator for bulls....it should have been down much more ?
Portfolio LULU, SVM, TZOO, CCJ
Most stocks are UP
@ 1.27 following are RED :
LULU,PWRD,BWLD,AMZN,IBN,M,
JKS,SOL,STP,LDK,EBIX,IGTE,ASIA,
RCI,TSL,FSLR.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, May 24, 2011
Indices closed down again......
Indices closed down again......
Indices are weak @ close.
Internals were negative....
RSI @ close are as follows :
Nasdaq 38.83
S&P 500 40.86
Dow 41.11
As you can see from RSI, that there is tremendous weakness in market. It feels like there is a swoon coming which should clear all the negativity. Last time when that happened RSI went to 30 area.
As there is weakness in market & stocks, it MAY be a good time to buy what you wanted to own all along BUT were expensive before.
It is IMPOSSIBLE to predict an exact bottom & buy @ exact low...so you need to scale in. It is also prudent to sell weak stocks. As market bottoms, stronger stocks will move UP FASTER. So keep an eye on technicals like 50 DMA & 200 DMA.
Comfort level needs to be very high in your holdings.
In my portfolio :
Sold APKT as it breached 50 DMA
Portfolio is LULU, SVM, TZOO, CCJ.....
Stocks which ended green included LULU, SVM,
SLW, AG,VMW, SOHU, CRM, MOS, IBN, V,
CNQ, SU, C......
AH Futures Down
AH Asian markets Down
AH Oil Down
AH Gold & Silver UP
BLOG does NOT give buy or sell.
Saleem
Indices are weak @ close.
Internals were negative....
RSI @ close are as follows :
Nasdaq 38.83
S&P 500 40.86
Dow 41.11
As you can see from RSI, that there is tremendous weakness in market. It feels like there is a swoon coming which should clear all the negativity. Last time when that happened RSI went to 30 area.
As there is weakness in market & stocks, it MAY be a good time to buy what you wanted to own all along BUT were expensive before.
It is IMPOSSIBLE to predict an exact bottom & buy @ exact low...so you need to scale in. It is also prudent to sell weak stocks. As market bottoms, stronger stocks will move UP FASTER. So keep an eye on technicals like 50 DMA & 200 DMA.
Comfort level needs to be very high in your holdings.
In my portfolio :
Sold APKT as it breached 50 DMA
Portfolio is LULU, SVM, TZOO, CCJ.....
Stocks which ended green included LULU, SVM,
SLW, AG,VMW, SOHU, CRM, MOS, IBN, V,
CNQ, SU, C......
AH Futures Down
AH Asian markets Down
AH Oil Down
AH Gold & Silver UP
BLOG does NOT give buy or sell.
Saleem
Indices Down .20% to .51%......
Indices are down about .5%.
Internals slightly negative.
European debt is causing latest negativity.
Gold UP $5.80
Oil UP 76 cents
Canadian $ Down 2 tick @ 102.27
VIX Down 1.42% @ 18.01...signalling a green close ?
Portfolio is APKT, CCJ, LULU, SVM, TZOO
There was a technology conference on "cloud computing" today from 9 AM..all cloud stocks were under pressure from open. I will listen to APKT presentation which was @ 10.45 AM...stock was down $2.80 before presentation....?..presentation is replayed after 3 hrs of original time.
Most stocks are down
@ 1.25 following are green :
SCM,NFLX,SLW,AG,CNQ,SU,GOOG,SINA,
VMW,SOHU,CRM,MOS,IBN,FNSR,EBIX,
NVDA,TCK,RCI,GG,ECA,NTES,PWRD,
AEM,ABX,SNE....
BLOG does NOT give buy or sell.
Saleem
Internals slightly negative.
European debt is causing latest negativity.
Gold UP $5.80
Oil UP 76 cents
Canadian $ Down 2 tick @ 102.27
VIX Down 1.42% @ 18.01...signalling a green close ?
Portfolio is APKT, CCJ, LULU, SVM, TZOO
There was a technology conference on "cloud computing" today from 9 AM..all cloud stocks were under pressure from open. I will listen to APKT presentation which was @ 10.45 AM...stock was down $2.80 before presentation....?..presentation is replayed after 3 hrs of original time.
Most stocks are down
@ 1.25 following are green :
SCM,NFLX,SLW,AG,CNQ,SU,GOOG,SINA,
VMW,SOHU,CRM,MOS,IBN,FNSR,EBIX,
NVDA,TCK,RCI,GG,ECA,NTES,PWRD,
AEM,ABX,SNE....
BLOG does NOT give buy or sell.
Saleem
Monday, May 23, 2011
Indices closed Down 1.05% to 1.58%........
US stock market followed world markets to the downside, BUT we performed better than Asia & Europe.
Nasdaq was the weakest being down 1.58% & Dow was down 1.05%.
S&P 500 was down 3.42% @ its low today from its recent high.
Internals were very weak as listed :
Down volume led by 9 to 1 in NYSE & 5.87 to 1 in Nasdaq
Declining stocks led by 3.89 to 1 in NYSE & 4.24 to 1 in Nasdaq
New 52 wk lows were in the lead in Nasdaq by 84 to 29
All of the above internal numbers are showing sign of capitulation.....
RSI in S&P 500 is @ 41.28
It seems that market found its footing by close.
AH ER SOLR was a beat & guide UP, stock UP 13.51%
AH GS is downgrading Chinese GDP Growth for 2011 to 9.4%
from 10%...also raising CPI to 4.7% from 4.3%..this is
putting pressure in futures AH...
AH Futures Down
AH Asian markets Mixed
AH Oil, Gold,Silver UP
BLOG does NOT give buy or sell.
Saleem
Nasdaq was the weakest being down 1.58% & Dow was down 1.05%.
S&P 500 was down 3.42% @ its low today from its recent high.
Internals were very weak as listed :
Down volume led by 9 to 1 in NYSE & 5.87 to 1 in Nasdaq
Declining stocks led by 3.89 to 1 in NYSE & 4.24 to 1 in Nasdaq
New 52 wk lows were in the lead in Nasdaq by 84 to 29
All of the above internal numbers are showing sign of capitulation.....
RSI in S&P 500 is @ 41.28
It seems that market found its footing by close.
AH ER SOLR was a beat & guide UP, stock UP 13.51%
AH GS is downgrading Chinese GDP Growth for 2011 to 9.4%
from 10%...also raising CPI to 4.7% from 4.3%..this is
putting pressure in futures AH...
AH Futures Down
AH Asian markets Mixed
AH Oil, Gold,Silver UP
BLOG does NOT give buy or sell.
Saleem
All Indices below 50 DMA on worldwide pullback....
Indices are under pressure due to worries about strength of worldwide economy. Asia, Europe & US are seeing selling pressure to the tune of 2%+-
US markets are holding relatively better.
Indices are all below 50 DMA......
Internals are 4 to 1 on the downside
More new 52 wk lows both in NYSE & Nasdaq.
Oil Down $2.42
Gold UP $2.00
Canadian $ Down 51 tick @ 102.21..lower end of its trading range.....
VIX UP 5.22% @ 18.34...it was as high as 20.03, so there is hope for a snap back in markets ?
Portfolio is APKT,CCJ,LULU,SVM,TZOO.....
Most stocks are Down
@ 1.15 following are green :
CCJ,NFLX,CMG,CF,EXPE,MOS,GS......
BLOG does NOT give buy or sell.
Saleem
US markets are holding relatively better.
Indices are all below 50 DMA......
Internals are 4 to 1 on the downside
More new 52 wk lows both in NYSE & Nasdaq.
Oil Down $2.42
Gold UP $2.00
Canadian $ Down 51 tick @ 102.21..lower end of its trading range.....
VIX UP 5.22% @ 18.34...it was as high as 20.03, so there is hope for a snap back in markets ?
Portfolio is APKT,CCJ,LULU,SVM,TZOO.....
Most stocks are Down
@ 1.15 following are green :
CCJ,NFLX,CMG,CF,EXPE,MOS,GS......
BLOG does NOT give buy or sell.
Saleem
Friday, May 20, 2011
WHY VIX closed UP 12.31% on a Friday ?
VIX closed UP 12.31% on a Friday, Indices closed near low of the day.
This can be attributed to many factors like political, earnings related & option expiry.
BUT..i am finding it hard to see WHY VIX would jump so much ?
IS VIX telling us more than what we want to know or are ready for ?
Monday MAY give us a clear picture of VIX jump.
Also surprisingly, Gold, oil also moved UP, while markets headed south.
Internals of the market were not as bad as VIX trying to tell us, here are the numbers :
Down volume led by 2.7 to 1 in NYSE & 2.57 to 1 in Nasdaq
Declining stocks led by 1.92 to 1 in NYSE & 2.02 to 1 in Nasdaq
As you can clearly see there is no real damage in market strength, this gives me a CONTRARY picture from VIX ?
S&P 500 is down 2.91% from its high
S&P 500 is still above 50 DMA
RSI in S&P 500 is 48.14
SO..we are sitting just above recent low of 1318.51 ......
Markets are behaving in a very erratic manner, which does NOT give comfort to bull or bear......extremely narrow trading range is being established.
On good days we are trying to move above 50 DMA, BUT on down days we are getting near 50 DMA.
Are we going to break this narrow trading range ?
I have a feeling that, this how we are going to plod along.
Now the question is ?
How to participate in this market ?
AGAIN the answer is the same, follow what is working on a day to day basis...no real trend will emerge until Q4....
Go with today's movers list & get trading ideas.
Also knowing about fundamental & MORE important TECHNICAL picture will always help in stock selection.
Some popular names are behaving poorly, AAPL & GOOG comes to mind as an example.
SO..try not to bank on past winners too much.
I have a feeling that Gold, Silver MAY push higher again. Gold has shown relative strength all along.The best way to play these is through GLD & SLV...stocks tend to defy metal prices. Try to have some exposure in these areas.
Staying nimble is also prudent.
Good luck in your OWN home work.
Markets are tough these days.
BLOG does NOT give buy or sell.
Saleem
This can be attributed to many factors like political, earnings related & option expiry.
BUT..i am finding it hard to see WHY VIX would jump so much ?
IS VIX telling us more than what we want to know or are ready for ?
Monday MAY give us a clear picture of VIX jump.
Also surprisingly, Gold, oil also moved UP, while markets headed south.
Internals of the market were not as bad as VIX trying to tell us, here are the numbers :
Down volume led by 2.7 to 1 in NYSE & 2.57 to 1 in Nasdaq
Declining stocks led by 1.92 to 1 in NYSE & 2.02 to 1 in Nasdaq
As you can clearly see there is no real damage in market strength, this gives me a CONTRARY picture from VIX ?
S&P 500 is down 2.91% from its high
S&P 500 is still above 50 DMA
RSI in S&P 500 is 48.14
SO..we are sitting just above recent low of 1318.51 ......
Markets are behaving in a very erratic manner, which does NOT give comfort to bull or bear......extremely narrow trading range is being established.
On good days we are trying to move above 50 DMA, BUT on down days we are getting near 50 DMA.
Are we going to break this narrow trading range ?
I have a feeling that, this how we are going to plod along.
Now the question is ?
How to participate in this market ?
AGAIN the answer is the same, follow what is working on a day to day basis...no real trend will emerge until Q4....
Go with today's movers list & get trading ideas.
Also knowing about fundamental & MORE important TECHNICAL picture will always help in stock selection.
Some popular names are behaving poorly, AAPL & GOOG comes to mind as an example.
SO..try not to bank on past winners too much.
I have a feeling that Gold, Silver MAY push higher again. Gold has shown relative strength all along.The best way to play these is through GLD & SLV...stocks tend to defy metal prices. Try to have some exposure in these areas.
Staying nimble is also prudent.
Good luck in your OWN home work.
Markets are tough these days.
BLOG does NOT give buy or sell.
Saleem
Indices Down from .30% to .36% on Option Expiry......
Indices are under normal pressure due to weekly / monthly Option Expiry .
Indices are off their lows & most stocks are recovering.
Internals have improved also , now down 1.5 to 1.
Gold UP $19.30
Oil UP 62 cents
Canadian $ Down 40 tick @ 102.94
VIX UP 4.12% @ 16.16
Portfolio APKT,CCJ,LULU,SVM,TZOO
Most stocks are Down
@ 1.22 following are UP :
TZOO,SVM,DLW,AG,SINA,NFLX,NTES,
VMW,FFIV,SU,CNQ,EXPE,PCLN,CRM,
JDSU,CIEN,SNDK,EBIX,NVDA,NVLS,
FMCN,TCK,GG,BRCD,CTRN,AEM,ABX.....
BLOG does NOT give buy or sell.
Saleem
Indices are off their lows & most stocks are recovering.
Internals have improved also , now down 1.5 to 1.
Gold UP $19.30
Oil UP 62 cents
Canadian $ Down 40 tick @ 102.94
VIX UP 4.12% @ 16.16
Portfolio APKT,CCJ,LULU,SVM,TZOO
Most stocks are Down
@ 1.22 following are UP :
TZOO,SVM,DLW,AG,SINA,NFLX,NTES,
VMW,FFIV,SU,CNQ,EXPE,PCLN,CRM,
JDSU,CIEN,SNDK,EBIX,NVDA,NVLS,
FMCN,TCK,GG,BRCD,CTRN,AEM,ABX.....
BLOG does NOT give buy or sell.
Saleem
Thursday, May 19, 2011
Indices closed green AGAIN......NICE !!!
Indices are fighting many negative economic data daily, but market is defiant in overcoming negativity.
All indices closed green.
Internals were positive.
Stocks which were UP 1% or more included TZOO,APKT,
VMW,QCOM,CRM,M,MPEL,CIEN,RVBD,EXPE,SINA,
BIDU,RENN...
AH ER & News were greeted as follows :
CRM +7.5%
ARUN <1.77%>
GPS <14.94%>
INTU <2.52%>
LDK <3.78%>
AH Futures Mixed
AH Asian markets UP
AH Oil,Gold & Silver UP
BLOG does NOT give buy or sell.
Saleem
All indices closed green.
Internals were positive.
Stocks which were UP 1% or more included TZOO,APKT,
VMW,QCOM,CRM,M,MPEL,CIEN,RVBD,EXPE,SINA,
BIDU,RENN...
AH ER & News were greeted as follows :
CRM +7.5%
ARUN <1.77%>
GPS <14.94%>
INTU <2.52%>
LDK <3.78%>
AH Futures Mixed
AH Asian markets UP
AH Oil,Gold & Silver UP
BLOG does NOT give buy or sell.
Saleem
Indices green, despite negative LEI....NICE !!!!
Market is showing real resiliency by ignoring first negative LEI since last June. All indices are green.
Internals are positive.
More new 52 wk highs in NYSE & Nasdaq.
IS MAY curse over ?
Gold Down $4.10
Oil Down $ 1.10
Canadian $ UP 9 tick @ 103.20
VIX Down 2.03% @ 15.90..lowest level in days...pointing to a stronger market !!!!
In my portfolio :
Bought SVM @ $10.10....a profitable silver producer
Portfolio is APKT, CCJ, LULU, SVM, TZOO
Most stocks are UP
@ 1.10 following are RED :
LULU,SVM,CCJ,AG,CNQ,RIMM,LDK,JKS,
TSL,PLCM,ALTR,MOS,IBN,V,JASO,STP,
SOL,BAC,SNDK,NVLS,NVDA,IGTE,ASIA,
TCK,CTRN,FSLR,TTM,GNK,GS,SNE....
BLOG does NOT give buy or sell.
Saleem
Internals are positive.
More new 52 wk highs in NYSE & Nasdaq.
IS MAY curse over ?
Gold Down $4.10
Oil Down $ 1.10
Canadian $ UP 9 tick @ 103.20
VIX Down 2.03% @ 15.90..lowest level in days...pointing to a stronger market !!!!
In my portfolio :
Bought SVM @ $10.10....a profitable silver producer
Portfolio is APKT, CCJ, LULU, SVM, TZOO
Most stocks are UP
@ 1.10 following are RED :
LULU,SVM,CCJ,AG,CNQ,RIMM,LDK,JKS,
TSL,PLCM,ALTR,MOS,IBN,V,JASO,STP,
SOL,BAC,SNDK,NVLS,NVDA,IGTE,ASIA,
TCK,CTRN,FSLR,TTM,GNK,GS,SNE....
BLOG does NOT give buy or sell.
Saleem
Wednesday, May 18, 2011
Indices closed UP .65% to 1.14%....NICE !!!!
Indices followed up with a gain .
Internals were strong.
Stocks which were UP 3% or more included APKT,LULU,TZOO,
SVM,AG,ALTR,CRM,JDSU,FNSR,ARUN,CF,EXPE,RIMM,RENN....
AH ER NTES was a huge beat in EPS, stock Down 3.27% ?
AH Futures Mixed
AH Asian Markets UP
AH Oil,Gold,Silver UP
BLOG does NOT give buy or sell.
Saleem
Internals were strong.
Stocks which were UP 3% or more included APKT,LULU,TZOO,
SVM,AG,ALTR,CRM,JDSU,FNSR,ARUN,CF,EXPE,RIMM,RENN....
AH ER NTES was a huge beat in EPS, stock Down 3.27% ?
AH Futures Mixed
AH Asian Markets UP
AH Oil,Gold,Silver UP
BLOG does NOT give buy or sell.
Saleem
Indices UP .44% to .85%......NICE !!!!!
Indices are UP......
Internals are positive by better than 2 to 1...
Fed minutes to be released after 2 PM will give more insight into policy matters.
Oil UP $3.78
Gold UP $16.90
Canadian $ UP 6 tick @ 102.91
VIX Down 6.72% @ 16.37
In my portfolio :
Bought CCJ @ $26.99
Bought TZOO @ $66.15
Portfolio is APKT, CCJ, LULU,TZOO....
Most stocks are UP
@ 1.13 following are Down :
GOOG,MA,V,SINA,C,SNDK,BAC,
ASIA,SNDA,CTRN,TSL,TTM,SNE,
GS.....
BLOG does NOT give buy or sell.
Saleem
Internals are positive by better than 2 to 1...
Fed minutes to be released after 2 PM will give more insight into policy matters.
Oil UP $3.78
Gold UP $16.90
Canadian $ UP 6 tick @ 102.91
VIX Down 6.72% @ 16.37
In my portfolio :
Bought CCJ @ $26.99
Bought TZOO @ $66.15
Portfolio is APKT, CCJ, LULU,TZOO....
Most stocks are UP
@ 1.13 following are Down :
GOOG,MA,V,SINA,C,SNDK,BAC,
ASIA,SNDA,CTRN,TSL,TTM,SNE,
GS.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, May 17, 2011
All Indices closed above 50 DMA...NICE !!!!
Indices were under pressure again thanks to many economic data which was below expectations.
S&P 500 & Nasdaq went below 50 DMA, but fought its way back to close above.
Bottom or TOP CAN be spotted IF you have studied "euphoria & pessimism" closely.
There are many strong stocks on sale as many are still under 50 DMA..check their RSI for buying.
Yesterday all Fast Panic Money gurus were sure we are going way down.....guess what Adami has no clue about market & is keeping his record 0/2000 calls intact. Joe Terranova panics so fast it is amazing to understand his logic......Karen tends to keep her focus where it should be, which is to look for bargain.
Stocks which were UP 2% or more included SINA,BIDU,SOHU,GOOG,ARUN...
AH ER DELL was a beat, stock UP 6.23%
AH Futures UP
AH Asian Markets UP
AH Oil,Gold,Silver UP
BLOG does NOT give buy or sell.
Saleem
S&P 500 & Nasdaq went below 50 DMA, but fought its way back to close above.
Bottom or TOP CAN be spotted IF you have studied "euphoria & pessimism" closely.
There are many strong stocks on sale as many are still under 50 DMA..check their RSI for buying.
Yesterday all Fast Panic Money gurus were sure we are going way down.....guess what Adami has no clue about market & is keeping his record 0/2000 calls intact. Joe Terranova panics so fast it is amazing to understand his logic......Karen tends to keep her focus where it should be, which is to look for bargain.
Stocks which were UP 2% or more included SINA,BIDU,SOHU,GOOG,ARUN...
AH ER DELL was a beat, stock UP 6.23%
AH Futures UP
AH Asian Markets UP
AH Oil,Gold,Silver UP
BLOG does NOT give buy or sell.
Saleem
Only Dow above 50 DMA......
S&P 500 & Nasdaq are below 50 DMA while Dow is staying above.
Internals are negative by over 2 to 1....
S&P 500 is trying hard to come above 50 DMA....currently just fraction below ....
Oil Down $1.70
Gold Down $15.00
Canadian $ Down 28 tick @ 102.30
VIX Down .16% @ 18.21..? a turnaround is imminent in stock market.....
Portfolio APKT,LULU
Most stocks are Down....
@ 1.22 following are green :
SINA,BIDU,SOHU,RENN,BWLD,RIMM,GOOG,
NTES,EXPE,MOS,AMZN,MA,V,M,CRUS,ARUN,
IGTE,FMCN,RCI,TCK,SNDA,CTRN,AEM....
BLOG does NOT give buy or sell.
Saleem
Internals are negative by over 2 to 1....
S&P 500 is trying hard to come above 50 DMA....currently just fraction below ....
Oil Down $1.70
Gold Down $15.00
Canadian $ Down 28 tick @ 102.30
VIX Down .16% @ 18.21..? a turnaround is imminent in stock market.....
Portfolio APKT,LULU
Most stocks are Down....
@ 1.22 following are green :
SINA,BIDU,SOHU,RENN,BWLD,RIMM,GOOG,
NTES,EXPE,MOS,AMZN,MA,V,M,CRUS,ARUN,
IGTE,FMCN,RCI,TCK,SNDA,CTRN,AEM....
BLOG does NOT give buy or sell.
Saleem
Monday, May 16, 2011
Indices closed Down from .38% to 1.63%......
Indices were down in heavy volume.
Nasdaq was the worst performer again...
Internals of Nasdaq were as follows :
Down volume led by 4.56 to 1
Declining stocks led by 4 to 1
More new 52 wk lows than highs
All indices are barely above 50 DMA......as listed below :
S&P 500 6.03 from 50 DMA
Nasdaq 8.40 from 50 DMA
Dow 198.47 from 50 DMA
RSI in indices are as follows :
Nasdaq 43.63
S&P 500 46.10
Dow 50.00
These readings are getting awfully close to being "deeply oversold"
There is a chance that we MAY rally after dipping below 50 DMA in Nasdaq & S&P 500.....reasons being that we do NOT go down usually in a straight line....also sentiments is extremely negative....which usually brings a reversal ?
AH ER URBN UP 1.11%
AH Futures Down
AH Asian markets Down
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Nasdaq was the worst performer again...
Internals of Nasdaq were as follows :
Down volume led by 4.56 to 1
Declining stocks led by 4 to 1
More new 52 wk lows than highs
All indices are barely above 50 DMA......as listed below :
S&P 500 6.03 from 50 DMA
Nasdaq 8.40 from 50 DMA
Dow 198.47 from 50 DMA
RSI in indices are as follows :
Nasdaq 43.63
S&P 500 46.10
Dow 50.00
These readings are getting awfully close to being "deeply oversold"
There is a chance that we MAY rally after dipping below 50 DMA in Nasdaq & S&P 500.....reasons being that we do NOT go down usually in a straight line....also sentiments is extremely negative....which usually brings a reversal ?
AH ER URBN UP 1.11%
AH Futures Down
AH Asian markets Down
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Indices Down from .14% to 1.14%......
Indices are down again.....
Internals are mostly negative.
More new 52 lows in Nasdaq than highs ?
Oil Down $1.95
Gold Down $3.70
Canadian $ Down 31 tick to 102.89
VIX UP 3.16% @ 17.61
Portfolio APKT,LULU
Most stocks are Down
@ 1.16 following are green :
CCJ,CNQ,CF,MOS,V,SINA,SNDK,BAC,
EBIX,FMCN,TCK,GG,IAG,AEM,ABX,
TTM,GS.....
BLOG does NOT give buy or sell.
Saleem
Internals are mostly negative.
More new 52 lows in Nasdaq than highs ?
Oil Down $1.95
Gold Down $3.70
Canadian $ Down 31 tick to 102.89
VIX UP 3.16% @ 17.61
Portfolio APKT,LULU
Most stocks are Down
@ 1.16 following are green :
CCJ,CNQ,CF,MOS,V,SINA,SNDK,BAC,
EBIX,FMCN,TCK,GG,IAG,AEM,ABX,
TTM,GS.....
BLOG does NOT give buy or sell.
Saleem
Friday, May 13, 2011
Will 50 DMA hold in all indices ?
Indices are struggling quite a bit lately. Today down volume had a 7 to 1 lead in Nasdaq, a picture of extreme pessimism. Normally indices do a U turn when these numbers show up.
Before we draw any conclusion lets look @ RSI first :
S&P 500 49.84
Nasdaq 52.07
Dow 52.52
Here are the number for 50 DMA for indices :
S&P 500 1323.20
Nasdaq 2773.96
Dow 12342.33
All the indices closed well above 50 DMA today....
Many stocks are breaking their 50 DMA which includes AAPL.BIDU,SINA,SOHU to name a few. which is NOT a good picture from technical point of view.
AAPL, BIDU & SOHU had strong earnings reports, while SINA was weak, but all of them are below 50 DMA......
Is this happening because their is liquidation going on by HF & traders or there is margin liquidation going on @ all levels.
I have a feeling that current selling reflects margin related liquidation.
Generally, markets are pretty lackluster most of the time.
We have come off major lows, which is NOT the case most of the time.
Currently, markets are normal & there is PE compression going on in companies which are NOT growing @ robust pace as before.
SO, AAPL,BIDU breaking 50 DMA is a reflection of above factors.
NOW the question is ?
How to position in this kind of market ?
As most of us who have seen many decades of markets, KNOW that most of the time markets do nothing & go in a tight range.
Even in do nothing markets, there are good GROWTH stories which is happening.
Try to find few names & park your trading $ & see how it goes.
Lot of selling today was commodity related & weekly option expiry which CAN distort TAPE.
I think, we MAY find support around 50 DMA as sentiment is getting pretty negative in traders.
As you can see that RSI is hitting near lower end of recent trading.
In May, indices may trade in a very narrow range & RSI may go to mid 60 only.
It is highly prudent to trade & lock any gain.
Rapid fire trading MAY be the best idea from hereon.
A 1.5 day trading schedule is highly desirable in high beta stocks.
Good luck with your OWN comfort level.
We must adjust to the market we got & it MAY last for a long time.
BLOG does NOT give buy or sell.
Saleem
Before we draw any conclusion lets look @ RSI first :
S&P 500 49.84
Nasdaq 52.07
Dow 52.52
Here are the number for 50 DMA for indices :
S&P 500 1323.20
Nasdaq 2773.96
Dow 12342.33
All the indices closed well above 50 DMA today....
Many stocks are breaking their 50 DMA which includes AAPL.BIDU,SINA,SOHU to name a few. which is NOT a good picture from technical point of view.
AAPL, BIDU & SOHU had strong earnings reports, while SINA was weak, but all of them are below 50 DMA......
Is this happening because their is liquidation going on by HF & traders or there is margin liquidation going on @ all levels.
I have a feeling that current selling reflects margin related liquidation.
Generally, markets are pretty lackluster most of the time.
We have come off major lows, which is NOT the case most of the time.
Currently, markets are normal & there is PE compression going on in companies which are NOT growing @ robust pace as before.
SO, AAPL,BIDU breaking 50 DMA is a reflection of above factors.
NOW the question is ?
How to position in this kind of market ?
As most of us who have seen many decades of markets, KNOW that most of the time markets do nothing & go in a tight range.
Even in do nothing markets, there are good GROWTH stories which is happening.
Try to find few names & park your trading $ & see how it goes.
Lot of selling today was commodity related & weekly option expiry which CAN distort TAPE.
I think, we MAY find support around 50 DMA as sentiment is getting pretty negative in traders.
As you can see that RSI is hitting near lower end of recent trading.
In May, indices may trade in a very narrow range & RSI may go to mid 60 only.
It is highly prudent to trade & lock any gain.
Rapid fire trading MAY be the best idea from hereon.
A 1.5 day trading schedule is highly desirable in high beta stocks.
Good luck with your OWN comfort level.
We must adjust to the market we got & it MAY last for a long time.
BLOG does NOT give buy or sell.
Saleem
Indices Down .99% to 1.20%.....
Indices are down about 1% on growth fear.
Internals are negative 2.5 to 1
Indices are @ lowest point before recent rally & testing the lows.....
Oil Down 93 cents
Gold Down $15.90
Canadian $ Down 55 tick 103.30
VIX UP 6.99% @ 17.15
In my portfolio :
In the last two days, I sold the following : BLOG was NOT working for a full day, google fixed their blog issues an hour ago ?
RENN
SINA
AG
APKT
Rebought APKT @ $78.27
Portfolio is APKT & LULU....
Most stocks are Down
@1.36 following are Green :
CF,EXPE,PCLN,CMG,SLW,BWLD,NFLX,POT,
NVLS,CRUS,IGTE,TTM,V....
BLOG does NOT give buy or sell.
Saleem
Internals are negative 2.5 to 1
Indices are @ lowest point before recent rally & testing the lows.....
Oil Down 93 cents
Gold Down $15.90
Canadian $ Down 55 tick 103.30
VIX UP 6.99% @ 17.15
In my portfolio :
In the last two days, I sold the following : BLOG was NOT working for a full day, google fixed their blog issues an hour ago ?
RENN
SINA
AG
APKT
Rebought APKT @ $78.27
Portfolio is APKT & LULU....
Most stocks are Down
@1.36 following are Green :
CF,EXPE,PCLN,CMG,SLW,BWLD,NFLX,POT,
NVLS,CRUS,IGTE,TTM,V....
BLOG does NOT give buy or sell.
Saleem
Wednesday, May 11, 2011
Indices Down 1.32% to 1.42%........
Indices are reacting to many things, first Chinese Industrial output was slower than expected..which is sparking fear about "less demand" for many commodities. US trade deficit also playing a role in today's selling.
Oil Down $4.56
Gold Down $12.00
Canadian $ Down 40 tick @ 104.06
VIX UP 6.66% @ 16.97
In my portfolio :
Sold APKT
Added 35% SINA @ $115
Portfolio LULU, RENN,SINA...
Looks like RENN has finally found support today.....IF we do not break $13.04?
SINA reporting AH, expecting a beat & guide UP..expectations are Sales $95.49 million EPS 27 cents..consensus for Q2 is Sales $115.74 million & EPS of 40 cents.....
Most stocks are down....
@1.31following are green :
LVS,CMG,JKS,BAC,M,CREE,NFLX,
NVLS,EBIX,SNDA...
BLOG does NOT give buy or sell.
Saleem
Oil Down $4.56
Gold Down $12.00
Canadian $ Down 40 tick @ 104.06
VIX UP 6.66% @ 16.97
In my portfolio :
Sold APKT
Added 35% SINA @ $115
Portfolio LULU, RENN,SINA...
Looks like RENN has finally found support today.....IF we do not break $13.04?
SINA reporting AH, expecting a beat & guide UP..expectations are Sales $95.49 million EPS 27 cents..consensus for Q2 is Sales $115.74 million & EPS of 40 cents.....
Most stocks are down....
@1.31following are green :
LVS,CMG,JKS,BAC,M,CREE,NFLX,
NVLS,EBIX,SNDA...
BLOG does NOT give buy or sell.
Saleem
Tuesday, May 10, 2011
Indices closed UP 3 days in a row.......NICE !!!!
Indices closed UP .60% to 1.01%. This is the third time we have closed green in a row. Nasdaq was the strongest.
Internals were strong.
Stocks which closed UP 1% or more included APKT, SCSS,BWLD,CRM,
JKS,JDSU,FNSR,CIEN,JASO,SOL,LSCC,IGTE,CMG,AMZN,MU,SNDK...
RSI in Indices are as follows :
S& P 500 60.83
Dow 63.78
Nasdaq 64.16
AH ER were greeted as follows :
MCP <5.79%>
STEC <12.41%
DIS <2.35%>
ROVI +12.92%
AH Futures Mixed
AH Asian markets Mixed
AH Gold & Silver UP
AH Oil Down
China is reporting higher than expected inflation 5.3% vs 5.2% expectations..
Chinese Industrial output is lower than expected 13.4% vs 14.7% expectations..
How US market reacts is to be seen, BUT any weakness to be bought...not much reaction so far !!!!
BLOG does NOT give buy or sell.
Saleem
Internals were strong.
Stocks which closed UP 1% or more included APKT, SCSS,BWLD,CRM,
JKS,JDSU,FNSR,CIEN,JASO,SOL,LSCC,IGTE,CMG,AMZN,MU,SNDK...
RSI in Indices are as follows :
S& P 500 60.83
Dow 63.78
Nasdaq 64.16
AH ER were greeted as follows :
MCP <5.79%>
STEC <12.41%
DIS <2.35%>
ROVI +12.92%
AH Futures Mixed
AH Asian markets Mixed
AH Gold & Silver UP
AH Oil Down
China is reporting higher than expected inflation 5.3% vs 5.2% expectations..
Chinese Industrial output is lower than expected 13.4% vs 14.7% expectations..
How US market reacts is to be seen, BUT any weakness to be bought...not much reaction so far !!!!
BLOG does NOT give buy or sell.
Saleem
Indices UP .39% to .52%......NICE !!!!
Indices are back on track for 3rd day in a row...Nasdaq is strongest, while S&P 500 is well above 1350 area......
Internals are positive...
Gold UP $11.10
Oil UP 26 cents
Canadian $ UP 33 tick @ 104.10
VIX Down 4.25% @16.43
Most stocks are UP
In my portfolio :
Sold APKT
Bought back APKT @ $78.51
Portfolio APKT,LULU,RENN,SINA......
@ 1.08 following are RED :
SINA,LULU,RENN,APKT,NTES,BIDU,
PCLN,CF,RIMM,AAPL,PLCM,MOS,IBN,
CNQ,TCK,NFLX,ARUN,EBIX,NVDA,
VMW,FMCN,GG,JRCC,FSLR.....
BLOG does NOT give buy or sell.
Saleem
Internals are positive...
Gold UP $11.10
Oil UP 26 cents
Canadian $ UP 33 tick @ 104.10
VIX Down 4.25% @16.43
Most stocks are UP
In my portfolio :
Sold APKT
Bought back APKT @ $78.51
Portfolio APKT,LULU,RENN,SINA......
@ 1.08 following are RED :
SINA,LULU,RENN,APKT,NTES,BIDU,
PCLN,CF,RIMM,AAPL,PLCM,MOS,IBN,
CNQ,TCK,NFLX,ARUN,EBIX,NVDA,
VMW,FMCN,GG,JRCC,FSLR.....
BLOG does NOT give buy or sell.
Saleem
Monday, May 9, 2011
Indices closed UP from .36% to .55%...NICE !!!!
2nd week of "infamous MAY" is starting on right footing.All indices closed green.....
Internals were positive all over....
There were many new 52 wk highs today, 132 in NYSE & 79 in Nasdaq.....
After close Margin requirement is being increased in Oil Futures, effective Tuesday Open......are they starting a "silver strategy in Oil"......
Stock which were UP 2% or more included LULU,APKT,POT,SCSS,
SLW,PLCM,NFLX,AMCC,
FNSR,EBIX,NVDA....
AH ER RAX Down 2.36%
AH Futures Mixed
AH Asian Markets UP
AH Gold & Silver UP
AH Oil Down
BLOG does NOT give buy or sell.
Saleem
Internals were positive all over....
There were many new 52 wk highs today, 132 in NYSE & 79 in Nasdaq.....
After close Margin requirement is being increased in Oil Futures, effective Tuesday Open......are they starting a "silver strategy in Oil"......
Stock which were UP 2% or more included LULU,APKT,POT,SCSS,
SLW,PLCM,NFLX,AMCC,
FNSR,EBIX,NVDA....
AH ER RAX Down 2.36%
AH Futures Mixed
AH Asian Markets UP
AH Gold & Silver UP
AH Oil Down
BLOG does NOT give buy or sell.
Saleem
Indices UP .50% to .64%.....NICE !!!!!
Indices are UP about .50% based on major buying in commodities.
Oil UP $3.55
Gold UP $16.70
Canadian $ UP 17 tick 103.62
VIX Down 5.98% @ 17.30
Portfolio is APKT,LULU,RENN,SINA.....
SINA reports AH Wed..expecting a beat & guide UP....
Most stocks are UP
@ 1.28 following are RED :
LVS,RIMM,CMG,C,BAC,LDK,SOL,
JKS,TSL,GS,CREE,LEN,MU,AKAM,
JDSU,CIEN,JASO,STP,NVLS,CRUS,
ASIA,FSLR,GNK.....
BLOG does NOT give buy or sell.
Saleem
Oil UP $3.55
Gold UP $16.70
Canadian $ UP 17 tick 103.62
VIX Down 5.98% @ 17.30
Portfolio is APKT,LULU,RENN,SINA.....
SINA reports AH Wed..expecting a beat & guide UP....
Most stocks are UP
@ 1.28 following are RED :
LVS,RIMM,CMG,C,BAC,LDK,SOL,
JKS,TSL,GS,CREE,LEN,MU,AKAM,
JDSU,CIEN,JASO,STP,NVLS,CRUS,
ASIA,FSLR,GNK.....
BLOG does NOT give buy or sell.
Saleem
Friday, May 6, 2011
Markets in MAY 2011......
SO..here we are in famous MAY of 2011......
Markets as expected, had a fast correction of almost 3% in indices...
Correction happened in four trading days, which saw recent highs & then escalator down. On day five , we had a minor bounce of about less than half a percent.
Some traders are scared of this "weak bounce".......
It is "critical" that we analyze this market with all the cross-current, to get a realistic conclusion.
SO...what happened this week ?
- Silver crashed
- Oil crashed
- Gold got beaten down
- US$ turned UP
- Equities tumbled in a hurry to the tune of 3% in 4 trading days...
When was the last time we saw all that in 4 trading days ?
I do not recall EVER..in my long focus of all markets.....
Plus today, Greece was back in focus to "stall our rally"
SO... all of the above created a "monster of MARGIN CALLS to many High Frequency Traders "
SO..today we are all sifting through the after affects of this "margin Hurricane" worth many BILLIONS.......
BUT...despite all of the above, you will agree with me that 3% correction in equity markets was pretty TAME.....
HFT had to liquidate all the HIGH BETA stocks which had been running strong, to meet their margin calls for Oil & Silver......
This should explain my steadfast OPTIMISM for equity market.....
In any PANIC selling, you must evaluate the reasoning. This alerts you to some "unbelievable opportunities"
RSI in all indices did not pierce 50...which is the best RSI picture i have seen in any fast correction....
As of tonight, RSI are as follows :
S&P 500 53.12
Nasdaq 55.77
Dow 58.36
Based on "May syndrome" & earnings coming to an end...we may be looking @ RSI range for Indices & Stocks from 50 to 70 range ...back & forth.......
It will be PRUDENT to shift trading ideas to different sectors based on RSI......
I personally monitor RSI closely for Stocks & Indices, which have always guided me more accurately , for my market projection.......
It is more important to watch RSI for stocks than markets.....most of the time RSI in stocks "turn UP first" than Indices....
SO.....YES , we are in MAY......BUT you can still make money by knowing your stocks FA/TA well....
Who said making money in Wall Street is easy......
It is all about KNOWING your stocks trading range.....which keeps CHANGING.....
Good luck with your OWN comfort level with MAY, BUT some stocks will reach highs in month of MAY.......that is a REALITY !!!!!!
BLOG does NOT give buy or sell.
Saleem
Markets as expected, had a fast correction of almost 3% in indices...
Correction happened in four trading days, which saw recent highs & then escalator down. On day five , we had a minor bounce of about less than half a percent.
Some traders are scared of this "weak bounce".......
It is "critical" that we analyze this market with all the cross-current, to get a realistic conclusion.
SO...what happened this week ?
- Silver crashed
- Oil crashed
- Gold got beaten down
- US$ turned UP
- Equities tumbled in a hurry to the tune of 3% in 4 trading days...
When was the last time we saw all that in 4 trading days ?
I do not recall EVER..in my long focus of all markets.....
Plus today, Greece was back in focus to "stall our rally"
SO... all of the above created a "monster of MARGIN CALLS to many High Frequency Traders "
SO..today we are all sifting through the after affects of this "margin Hurricane" worth many BILLIONS.......
BUT...despite all of the above, you will agree with me that 3% correction in equity markets was pretty TAME.....
HFT had to liquidate all the HIGH BETA stocks which had been running strong, to meet their margin calls for Oil & Silver......
This should explain my steadfast OPTIMISM for equity market.....
In any PANIC selling, you must evaluate the reasoning. This alerts you to some "unbelievable opportunities"
RSI in all indices did not pierce 50...which is the best RSI picture i have seen in any fast correction....
As of tonight, RSI are as follows :
S&P 500 53.12
Nasdaq 55.77
Dow 58.36
Based on "May syndrome" & earnings coming to an end...we may be looking @ RSI range for Indices & Stocks from 50 to 70 range ...back & forth.......
It will be PRUDENT to shift trading ideas to different sectors based on RSI......
I personally monitor RSI closely for Stocks & Indices, which have always guided me more accurately , for my market projection.......
It is more important to watch RSI for stocks than markets.....most of the time RSI in stocks "turn UP first" than Indices....
SO.....YES , we are in MAY......BUT you can still make money by knowing your stocks FA/TA well....
Who said making money in Wall Street is easy......
It is all about KNOWING your stocks trading range.....which keeps CHANGING.....
Good luck with your OWN comfort level with MAY, BUT some stocks will reach highs in month of MAY.......that is a REALITY !!!!!!
BLOG does NOT give buy or sell.
Saleem
Indices UP from .49% to .69% on Jobs Data......NICE !!!!
Indices good a boost on better than expected Jobs Data.
As expected, Nasdaq is doing better than other indices.
Gold UP $4.30
Oil Down 56 cents
Canadian $ UP 17 tick @ 103.61...Canadian Job growth was "twice" as expected + 58,300.
VIX UP 1.21% @ 18.42...this is NOT good indicator for any bull move ?
In my portfolio :
Bought RENN @ $16.65
Portfolio is APKT,LULU,RENN,SINA.....
Most stocks are UP...
@ 1.18 following are RED :
RENN,PCLN,RIMM,PLCM,M,LEN,AKAM,
CIEN,IGTE,AMCC,CTRN,CCJ,AEM,ABX,
GS....
BLOG does NOT give buy or sell.
Saleem
As expected, Nasdaq is doing better than other indices.
Gold UP $4.30
Oil Down 56 cents
Canadian $ UP 17 tick @ 103.61...Canadian Job growth was "twice" as expected + 58,300.
VIX UP 1.21% @ 18.42...this is NOT good indicator for any bull move ?
In my portfolio :
Bought RENN @ $16.65
Portfolio is APKT,LULU,RENN,SINA.....
Most stocks are UP...
@ 1.18 following are RED :
RENN,PCLN,RIMM,PLCM,M,LEN,AKAM,
CIEN,IGTE,AMCC,CTRN,CCJ,AEM,ABX,
GS....
BLOG does NOT give buy or sell.
Saleem
Thursday, May 5, 2011
.48% to 1.10% loss in indices again.......
Indices were lower @ close again & all indices made lower lows, Nasdaq barely went lower by fraction.
Nasdaq TAPE is encouraging......
Internals were negative, but not by much....
Oil, Silver & Gold went down sharply as their risk factor has diminished for now.
US$ showing strength, which is negative for all commodities.
Stocks which went UP 2% or more included SINA,APKT,BWLD,CMG,
AKAM,JDSU,NVLS,IGTE...
AH ER were greeted as follows :
YOKU <5.17%>
CF + 3.64%
PCLN + 2.03%
LLNW + 5.96%
Friday's Job report is expected to be 186K...I have a feeling that we MAY miss this expectations ...BUT market may recover quickly as most indices are already Down from 2.75% to 3.02%.....
AH Futures UP
AH Asian markets Down
AH Silver Down
AH OIL & Gold UP
BLOG does NOT give buy or sell.
Saleem
Nasdaq TAPE is encouraging......
Internals were negative, but not by much....
Oil, Silver & Gold went down sharply as their risk factor has diminished for now.
US$ showing strength, which is negative for all commodities.
Stocks which went UP 2% or more included SINA,APKT,BWLD,CMG,
AKAM,JDSU,NVLS,IGTE...
AH ER were greeted as follows :
YOKU <5.17%>
CF + 3.64%
PCLN + 2.03%
LLNW + 5.96%
Friday's Job report is expected to be 186K...I have a feeling that we MAY miss this expectations ...BUT market may recover quickly as most indices are already Down from 2.75% to 3.02%.....
AH Futures UP
AH Asian markets Down
AH Silver Down
AH OIL & Gold UP
BLOG does NOT give buy or sell.
Saleem
Indices are Mixed today......
Indices are mixed today with Nasdaq showing technical strength by making "higher low", while S&P 500 & Dow making a "lower low"...this is signalling that "tech stocks" will lead the market......
Oil Down $7.38
Gold Down $34.60
Canadian $ Down 86 tick @ 103.43
VIX 16.90 Down 1.05%
In my portfolio :
Sold POT
Portfolio is APKT,LULU,SINA
Most stocks are UP
@ 1.18 following are RED :
RENN,NTES,POT,PCLN,AAPL,POT,
USO,CNQ,SU,AMZN,SLW,GS,MOS,
IBN,MA,V,TCK,BAC,GG,IAG,ECA,
CCJ,AEM.....
BLOG does NOT give buy or sell.
Saleem
Oil Down $7.38
Gold Down $34.60
Canadian $ Down 86 tick @ 103.43
VIX 16.90 Down 1.05%
In my portfolio :
Sold POT
Portfolio is APKT,LULU,SINA
Most stocks are UP
@ 1.18 following are RED :
RENN,NTES,POT,PCLN,AAPL,POT,
USO,CNQ,SU,AMZN,SLW,GS,MOS,
IBN,MA,V,TCK,BAC,GG,IAG,ECA,
CCJ,AEM.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, May 4, 2011
Indices Down .47% to .69%....
Indices were down again.......
Internals were mostly negative by almost 2 to 1....
This correction has interesting characteristics as listed below :
S&P 500 Down 2.12% ..All stat are from low point today to absolute high point of few days ago..
Nasdaq Down 2.73%
Dow Down 1.58%
BUT many stocks broke down big time.....I will list my holdings down slide :
LULU Down 12.31%
POT Down 11.94%
SINA Down 21.38%
APKT Down 15.17%
I always compare indices against my holdings & try to find reasons for disconnect....the biggest reason for disconnect in my holdings was, that they all ran UP huge %..thus time was ripe for a giveback.....
@ higher levels in indices & in stocks...i have a tendency to trade frequently & book any profit.
I have a feeling, indices have discounted lower than expected Jobs report for Friday ?
RSI in my above 4 holdings are as follows :
LULU 50.13
POT 35.90
SINA 47.43
APKT 49.64
As you can tell, that these are attractive buy point......
AH ER JDSU +9.25% on beat & acceptable guidance
AH Futures UP
AH Asian markets Mixed
AH Gold UP
AH Oil Down
BLOG does NOT give buy or sell.
Saleem
Internals were mostly negative by almost 2 to 1....
This correction has interesting characteristics as listed below :
S&P 500 Down 2.12% ..All stat are from low point today to absolute high point of few days ago..
Nasdaq Down 2.73%
Dow Down 1.58%
BUT many stocks broke down big time.....I will list my holdings down slide :
LULU Down 12.31%
POT Down 11.94%
SINA Down 21.38%
APKT Down 15.17%
I always compare indices against my holdings & try to find reasons for disconnect....the biggest reason for disconnect in my holdings was, that they all ran UP huge %..thus time was ripe for a giveback.....
@ higher levels in indices & in stocks...i have a tendency to trade frequently & book any profit.
I have a feeling, indices have discounted lower than expected Jobs report for Friday ?
RSI in my above 4 holdings are as follows :
LULU 50.13
POT 35.90
SINA 47.43
APKT 49.64
As you can tell, that these are attractive buy point......
AH ER JDSU +9.25% on beat & acceptable guidance
AH Futures UP
AH Asian markets Mixed
AH Gold UP
AH Oil Down
BLOG does NOT give buy or sell.
Saleem
Indices Down .62% to .76%.......
Indices are reacting to economic reports showing slower job growth & service sector......
S&P 500 went to 1341.50 where it found many buyers.
Markets are coming back, hopefully margin call selling is done.
Oil Down $1.99
Gold Down $33
Canadian $ Down 53 tick @ 104.39
VIX @ 17.12 UP 2.51%
In my portfolio :
Bought APKT @ $72
Added 20% SINA @ $116.10
Portfolio is APKT,LULU,POT,SINA......
Most stocks are Down
@ 1.50 following are GREEN :
GOOG,AAPL,RENN,NTES,AMZN,
M,NVLS,ASIA,IAG,IGT.....
AGU ER was not well received, stock down 4.47% after improving.
BLOG does NOT give buy or sell.
Saleem
S&P 500 went to 1341.50 where it found many buyers.
Markets are coming back, hopefully margin call selling is done.
Oil Down $1.99
Gold Down $33
Canadian $ Down 53 tick @ 104.39
VIX @ 17.12 UP 2.51%
In my portfolio :
Bought APKT @ $72
Added 20% SINA @ $116.10
Portfolio is APKT,LULU,POT,SINA......
Most stocks are Down
@ 1.50 following are GREEN :
GOOG,AAPL,RENN,NTES,AMZN,
M,NVLS,ASIA,IAG,IGT.....
AGU ER was not well received, stock down 4.47% after improving.
BLOG does NOT give buy or sell.
Saleem
Tuesday, May 3, 2011
Nasdaq closed Down .71%......
Nasdaq stocks are weaker than Dow & S&P 500.
Internals were weak by almost 2 to 1.....
Speculative money has been selling Nasdaq stocks & commodities.
Gold, Silver & Chinese Internet stocks are taking a beating.
Here is the RSI @ close :
Nasdaq 60.15
S&P 500 63.95
Dow 72.42
Many stocks are showing RSI @ attractive levels as listed below :
LULU 50.28
POT 38.26
SINA 50.24
VMW 56.01
NTES 31.50
BIDU 45.25
AAPL 54.80
APKT 49.77
PCLN 62.24
VFC 46.46
ABX 36.25
GOOG 37.48
Many of these stocks can be part of a diversified portfolio.
Added 100% SINA @ $122.05
AH ER were greeted as follows :
LVS <9.96%>
FSLR <8.47%>
OPEN <8.10%>
GMCR +18.84%
AH Futures Down
AH Asian markets Mixed
AH Oil,Gold,Silver Down
BLOG does NOT give buy or sell.
Saleem
Internals were weak by almost 2 to 1.....
Speculative money has been selling Nasdaq stocks & commodities.
Gold, Silver & Chinese Internet stocks are taking a beating.
Here is the RSI @ close :
Nasdaq 60.15
S&P 500 63.95
Dow 72.42
Many stocks are showing RSI @ attractive levels as listed below :
LULU 50.28
POT 38.26
SINA 50.24
VMW 56.01
NTES 31.50
BIDU 45.25
AAPL 54.80
APKT 49.77
PCLN 62.24
VFC 46.46
ABX 36.25
GOOG 37.48
Many of these stocks can be part of a diversified portfolio.
Added 100% SINA @ $122.05
AH ER were greeted as follows :
LVS <9.96%>
FSLR <8.47%>
OPEN <8.10%>
GMCR +18.84%
AH Futures Down
AH Asian markets Mixed
AH Oil,Gold,Silver Down
BLOG does NOT give buy or sell.
Saleem
Indices Down from .07% to .93%......
Indices are pulling back again, Nasdaq is weakest with Chinese Internet stocks taking the biggest hit in heavy volume.
Reason for this pullback is the same, stocks are down on profit taking. Many stocks were UP 100%, so a 10% pullback in those stocks are not out of line.
Today is a good buying opportunity or doing nothing.
Internals are negative by 2 to 1....
Hopefully, Wed stocks should be OK....
Tuesday sometimes are "turnaround day" ??????
Gold Down $13.20
Oil Down $1.22
Canadian $ UP 15 tick @ 105.31..Conservative party got a majority, which is good for economy & CAD.....
VIX UP 3.81% @ 16.60
Portfolio is LULU,POT,SINA......No Change......
Most stocks are Down
@1.21 following are Green :
AAPL,CRUS,SCSS,TRLS,GS,RIMM,
MA,V,M,BAC.....
LVS reports AH, expecting a beat...it will be all about
guidance.
BLOG does NOT give buy or sell.
Saleem
Reason for this pullback is the same, stocks are down on profit taking. Many stocks were UP 100%, so a 10% pullback in those stocks are not out of line.
Today is a good buying opportunity or doing nothing.
Internals are negative by 2 to 1....
Hopefully, Wed stocks should be OK....
Tuesday sometimes are "turnaround day" ??????
Gold Down $13.20
Oil Down $1.22
Canadian $ UP 15 tick @ 105.31..Conservative party got a majority, which is good for economy & CAD.....
VIX UP 3.81% @ 16.60
Portfolio is LULU,POT,SINA......No Change......
Most stocks are Down
@1.21 following are Green :
AAPL,CRUS,SCSS,TRLS,GS,RIMM,
MA,V,M,BAC.....
LVS reports AH, expecting a beat...it will be all about
guidance.
BLOG does NOT give buy or sell.
Saleem
Monday, May 2, 2011
Indices closed Down .02% to .33%.....
Indices took a break today from closing @ new highs, BUT we went into new record in all indices earlier in AM trading.
Today's TAPE is nothing to worry about, it is normal intraday reversal from new highs.
Internals were negative.
RSI @ close are :
Nasdaq 66.95
S&P 500 67.36
Dow 72.42
RSI have more room to go UP......
VIX closed UP8.41% @ 15.99
Stocks which moved UP 1% or more included PCLN,AMZN,V,M,
LVS,NFLX....
AH Futures Down
AH Asian markets Mixed
AH OIL, Gold, Silver Down
BLOG does NOT give buy or sell.
Saleem
Today's TAPE is nothing to worry about, it is normal intraday reversal from new highs.
Internals were negative.
RSI @ close are :
Nasdaq 66.95
S&P 500 67.36
Dow 72.42
RSI have more room to go UP......
VIX closed UP8.41% @ 15.99
Stocks which moved UP 1% or more included PCLN,AMZN,V,M,
LVS,NFLX....
AH Futures Down
AH Asian markets Mixed
AH OIL, Gold, Silver Down
BLOG does NOT give buy or sell.
Saleem
Indices Mixed after initial euphoria......
There was euphoria set after Bin Laden death. But market usually sells off on non-economic event.Remember Saddam capture euphoria @ open & then profit taking. It helps in trading, to know the history of non-economic events.
Currently Dow & S&P 500 is in green which confirms that this market is not ready to rollover.
Internals are negative with weakness in Nasdaq.
Gold Down $5.20
Oil Down 46 cents
Canadian $ Down 49 tick @ 105.34
VIX UP 6.98% @ 15.78
In my portfolio :
Sold APKT @ open on euphoria
Bought SINA @ $135.36
Portfolio is LULU,POT,SINA.....
Most stocks are Down
@ 1.28 following are Green :
SINA,POT,BIDU,AMZN,PCLN,CMG,GS,
QCOM,BWLD,MA,V,M,SU,LVS,TCK,
BAC,NFLX,IGTE,ASIA,FMCN,RCI,
CCJ,JRCC,NTES,MFC,NYX,ISRG,
SNE,FWLT.....
BLOG does NOT give buy or sell.
Saleem
Currently Dow & S&P 500 is in green which confirms that this market is not ready to rollover.
Internals are negative with weakness in Nasdaq.
Gold Down $5.20
Oil Down 46 cents
Canadian $ Down 49 tick @ 105.34
VIX UP 6.98% @ 15.78
In my portfolio :
Sold APKT @ open on euphoria
Bought SINA @ $135.36
Portfolio is LULU,POT,SINA.....
Most stocks are Down
@ 1.28 following are Green :
SINA,POT,BIDU,AMZN,PCLN,CMG,GS,
QCOM,BWLD,MA,V,M,SU,LVS,TCK,
BAC,NFLX,IGTE,ASIA,FMCN,RCI,
CCJ,JRCC,NTES,MFC,NYX,ISRG,
SNE,FWLT.....
BLOG does NOT give buy or sell.
Saleem
Subscribe to:
Posts (Atom)