Indices are reacting to negative economic data worldwide. Summer, generally is slow for Europe.
US job picture is improving, but not @ vigorous pace yet.
Gold UP $8.40
Oil Down $2.50
Canadian $ Down 63 tick @ 102.63
VIX UP 11.59% @ 17.24
I am expecting markets to reduce losses by close.....
Portfolio is CCJ,LULU,TZOO
Most stocks are down
Internals are weak by minimum 3 to 1.....
@ 2.10 following are UP :
CCJ,MPEL,VMW,WYNN,NTES,AAPL,
PLCM,SOHU,LVS,NVLS,SINA......
BLOG does NOT give buy or sell.
PS..post was late, as i had to step out.
Saleem
8 comments:
Saleem,
I have not played short well, so I may follow your lead on this. I sold APKT, FCX, CLF, and SOHU this morning. Portfolio has RENN & TZOO.
Michael
Hi Michael,
It is good to do what you know well in a chaleenging market...
Look @ TZOO..UP $10 now lost it all...but i am keeping.
Saleem
Saleem,
Wow, low of the day! I will watch out for a stable condition before moving in again. Thanks for the warning last Friday. LULU seems found its footing. If it hold for several days. I may add in.
Michael
Saleem,
Shorts were working today. VXX & SQQQ. GLTA.
Victor
Hi Michael,
I dont want to sound crazy..BUT today's "washout" may be good for the bulls.....
LULU.....splitting its stock i think June 8th & earnings on June 10th before open....
Saleem
Hi Victor,
Shorts are investors too...they needed a "good day today"..& they got it.....
Saleem
Saleem,
I am 70% on cash and I don't play short well, so I hope for the Bulls. I agreed. Sometimes, "washout" will blow away all of the bubble and start a solid footing for the next Bulls. In your experience, is it better to start a position before or after the split? Thanks.
Michael
Hi Michael,
History of split is mixed..some go DOWN some go UP....
LULU..like any stock....needs to be bought IF you are a believer in their business model & IF their price seems RIGHT......
LULU is down 16.96% from its high & it is a growth company.....
I am holding for its split & earnings report.....BUT that is just me.....
IF you want to WAIT for ER..then buy after they report.
Saleem
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