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
at

9 comments:

  1. cMay 11, 2011 at 6:03 AM

    S

    SINA is green in pre market

    My FCX seems to be a dud
    No clue if copper if a mover or NOT

    Your buy of APKT is spot on! I may buy some if it dips

    have a great day

    ReplyDelete
  2. Stocks100May 11, 2011 at 6:24 AM

    Hi C,

    APKT is a great trading stock..the best these days......dips comes back up..daily....

    FCX i have not followed..but gold & copper stocks are dud these days.

    Saleem

    ReplyDelete
  3. AnonymousMay 11, 2011 at 7:20 AM

    Saleem,

    How do you deal with the wash sale rules?

    Victor

    ReplyDelete
  4. Stocks100May 11, 2011 at 7:30 AM

    Hi Victor,

    I never violate that rule....i wait 30 days before i buy.

    The only other way is to buy similar type of stock...or go for options if one must rebuy....

    Saleem

    ReplyDelete
  5. MichaelMay 11, 2011 at 8:21 AM

    Saleem,

    Enter SINA at 116.75 as earning play. Double down on RENN at 13.51

    Michael

    ReplyDelete
  6. Stocks100May 11, 2011 at 8:37 AM

    Hi Michael,

    SINA TAPE today is a surprise for me ......hopefully ER should reverse it.

    RENN is extremely weak & does not look good.

    Saleem

    ReplyDelete
  7. cMay 11, 2011 at 8:38 AM

    Michael

    Go Michael

    SINA and RENN on a down -red day all right
    I would think that SINA and BIDU would do well

    Not so sure with RENN! I did get some APKT--it is up and down so fast...

    Good luck to all

    ReplyDelete
  8. Stocks100May 11, 2011 at 8:50 AM

    Hi C,

    Good luck with APKT !!!!

    Saleem

    ReplyDelete
  9. cMay 11, 2011 at 10:27 AM

    SALEEM

    I got some more APKT
    I is on sale

    SINA is so darn bad

    ReplyDelete