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
6 comments:
S
Good mornig to you and all
Looking like a green day
still got APKT
Hoping that APPLE will go up....
regards to all
Hi C,
Looks like AAPL low was $329...holding above.....
Silver is UP 3.29%...huge move.
Futures are weak BUT hopefully may turn UP..which is a better way..instead of UP @ open & down @ close.....
Need to close @ or near high of the day to break technical weakness.
Saleem
S
Again let me say thanks
I go all over the message boards--no one is like you
thanks again
I have 250 shares of APPLE and cross my fingers that good things are coming
Hi C,
Thanks for your feedback.
AAPL is already UP..a very good sign !!!!
Saleem
Saleem,
My buys at the dip have paid off handsomely except APKT (break even). Do you think we will go up from this point. I think MAY is over. Thanks.
Best Regards,
Tuan
Hi Michael,
Yes market is washed out...
Your timing was perfect.
Should work its way higher !!!!
Saleem
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