Tuesday, August 30, 2011

Indices closed UP .18% to .55%.....Green back to back 3 day's....NICE !!!!

Today Indices should have tanked as many economic news were negative. Consumer confidence index fell sharply to 44.5, lowest level since April 2009....we all know very well what happened in April 09...market found a bottom ?

Gold Jumped $38.20 closing @ $1829.80

VIX closed UP 1.89% @ 32.89...this went UP while market closed UP ? Fear is in vogue....

SO..we have to be impressed with indices closing green today.....being three days in a row

Fed minutes are being viewed as pro-active to give economy a helping hand.....

BUT all this does not mean that CAUTIONARY strategy not to be taken....I have reduced my exposure in this environment to 52% & have 3 stocks in my portfolio with Gold as my main anchor...

Internals of the market were positive.....

New 52 wk high were in the lead, 39 in NYSE & 23 in Nasdaq

One big positive today was, that volume was higher than yesterday......

BUT leave it to HFT, to see what they will do on Wednesday ?

Stocks which were UP 3% or more included BIDU,NFLX,
RVBD,MPEL,AG,JDSU,CIEN,FNSR,WYNN,RIMM,
GLD,PHYS.......

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

BLOG does NOT give buy or sell.

PS...There will be no post on Wednesday, as i will be busy with friends & relatives to celebrate end of Ramadhan.Its known as EID which starts with morning prayer in a mosque, then day spent with friends & family.

Saleem

Market trying to interpret Fed minutes....

Indices were negative prior to the release of Fed minutes.Have gone positive after release....

Fed minutes revealed highly focused & pro-active fed.

Minutes revealed many options left for next round of quantitative easing.

Gold UP $40.20

Oil UP $1.67

Canadian $ Down 27 tick @ 102.15

VIX UP .93% @ 32.58...IF this goes below 30....we should have strong rally ?

Internals of the market is 50% negative

Most of the stocks on my watch list are higher

@ 2.26 following are RED :

JCP,AAPL,GOOG,BAC,CRM,MA,JKS,
C,SNDK,CRUS,FMCN,LDK,SOL,NYX,
GS,VAR.....

In my portfolio :

Sold AUY

Sold AMZN

Sold BIDU

Bought 50% more KGC @ $17.41

Bought BIDU @ $147.90

Bought NFLX @ $233.90

Portfolio is BIDU,KGC,NFLX......

52% exposure.......

Portfolio shuffling was part of my strategy to reduce exposure......All selling was to book gains....

$ weighting is as follows :

KGC 42.76%

NFLX 28.47%

BIDU 28.77%

BLOG does NOT give buy or sell.

Saleem

Monday, August 29, 2011

Indices closed UP 2.26% to 3.32%...NICE !!!!

Indices are @ their highest level since hitting 1101.......

S&P 500 closed @ 1210.08 which is 109 points higher or 9.9% UP move...

Internals were as listed below:

UP volume led by 34.46 to 1 in NYSE & 43 to 1 in Nasdaq...extremely strong TAPE

Advancing stocks led by 10.43 to 1 in NYSE & 12.85 to 1 in Nasdaq

New 52 wk highs were in lead... 29 in NYSE & 26 in Nasdaq

VIX down 9.27% @ 32.28

SO...everybody feeling good after this UP move.....?

The question we all have to ask.......what changed to support
a 10%++ move ?

Not much.....

Volume today was well below average & below Friday......NOT a good sign based on strong UP move in markets.....again HFT are either short covering or enticing buyers in ?

Based on my personal feel of the market & TAPE...i have more sell order placed ...

IF my sell orders are filled..i will be left with AUY & KGC only......my exposure which went UP to 135% of my normal is already @ 90% with AAPL sale....once my sell of AMZN & BIDU executes, i will be @ 41% exposure...where my comfort level will be high......

Markets are always impossible to interpret, but lately it is more so. I would rather be on the safe side than be @ the mercy of HFT......

Stocks which were UP 4% or more included LULU,APKT,RVBD,
MOS,RIMM,LVS,BAC,VMW,SOHU,QCOM,CRM,M,PLCM,
JDSU,CIEN,FNSR,ARUN,CRUS,SNDK......

AH Futures Down

AH Asian Markets UP

AH Oil UP

AH Gold & Silver UP

BLOG does NOT give buy or sell.

Saleem

Indices UP 1.85% to 2.67%....NICE !!!!!

Indices are moving upward after Fed presentation, cut the negativity.

S&P 500 high so far is 1205.33...RSI @ 49.83

Internals are UP almost 7 to 1

New 52 wk highs are leading.

Gold Down $5.10

Oil UP $1.92

Canadian $ UP 18 tick @ 102.07

VIX down 8.35% @ 32.62

In my portfolio :

Sold AAPL

Tripled my position in KGC @ $17.50

Portfolio is AMZN, BIDU,AUY & KGC

Most stocks are UP

@1.45 following are down :

AUY,KGC,GG,PHYS,GLS,SLW,VXX,
SINA,PWRD,ABX,AEM,SVM.....

BLOG does NOT give buy or sell.

Saleem

Sunday, August 28, 2011

Deeply oversold condition & Fed brought back buyers......

Indices again were  in a tailspin as Fed Chief was talking, S&P hit 1135.91 which was the third retest of support & each time we held.....1101 was first 1121 was second & 1135 was third.....

S&P 500 closed @ 1176.80..next level to conquer is 1208 which was the technical rebound from 1101.

Many technicians are hopeful that 50 DMA 1260.26 could be reached...then back down.....

As I have said repeatedly, that this market is more tough than 2008...it goes down when no one is ready & it goes UP when everyone is afraid......

How i am interpreting this market ?

This market is most unpredictable, being lucky is better than being smart.

I have more faith in Gold than S&P 500.....

The minute Congress is back, we will see those annoying faces & rhetoric again.....confidence will be lost again.....BUT IF they feel they got enough backlash from Ben Bernanke & their voters while they were sun tanning...maybe they will change their tune to get re-elected.....then we have a chance of hitting 1283.74

I do not know what will work best in this crazy market..but Gold has been working....

Gold high was $1918 intraday & low intraday was $1705...a quick loss of $213 points or 11.11%....all in 36 hours.....On Friday gold closed @ $1797.30 a gain of $92 from low or a quick snapback of 5.39%......

Here is a list of popular stocks in terms of their YTD gains / losses from Dec 31,2010 close  :

RVBD Down 35.29%
APKT Down 14.50%
GOOG Down 11.30%
KGC Down 6.7%
LVS Down 4.6%

AMZN UP 10.70%
POT UP 10.83%
AAPL UP 18.92%
AUY UP 24.92%
PCLN UP 26.00%
NFLX UP 26.29%
WYNN UP 36.00%
CMG UP 40.54%
BIDU UP 44.72%
LULU UP 52.91%

I am sure, you will find the performance of many stocks "surprising"....

Above list can be interpreted to justify one's trading / investing approach.....

Many stocks survived onslaught of bearish attacks by HFT...who has trillions @ their disposal to kill any stock IF they so decide.

IF you had first five stocks....you have lot to think about to IMPROVE returns.......BUT IF you had last four stocks in your portfolio..you were a genius in this environment.....

NOW..the question is which four stocks will outperform in next 12 months ?

That will involve both fundamental analysis & technical analysis......& a big dose of LUCK.....

As you all observed, that many technical traders gave up on this market only to change quickly....market always humbles the best of us repeatedly.......

Good luck in your OWN analysis.

BLOG does NOT give buy or sell.

Saleem



Friday, August 26, 2011

Indices UP 1.45% to 2.48% on BB promise of GROWTH in US......NICE !!!!

Ben Bernanke said the most feared word about US economy......the word was "GROWTH"

Every US genius was predicting 80% recession...but BB said GROWTH...WOW what a contrasting picture from someone who KNOWS what he is talking about......

SO UP we GO....

Internals are UP by minimum 4 to 1

Gold UP $25.30

Oil Down 28 cents

Canadian $ UP 45 tick @ 101.61

VIX Down 11.77% @ 35.08

In my portfolio :

Bought KGC @ $17.18..another gold stock which is gaining technical strength....

Portfolio is AAPL,AMZN,AUY,BIDU,KGC

Most stocks are UP

Next post on Sunday by 2PM

BLOG does NOT give buy or sell.

Saleem

Thursday, August 25, 2011

Indices closed down 1.51% to 1.95% on fedspeak jitters.....

Indices were under pressure, despite Buffett's bold step of plunking $5 billion into BAC. Many analysts were upset that 2nd richest person in America actually believes in investing huge sum in a bank which was being pushed down daily ?

Internals of the market were as follows :

Down Volume led by 3.62 to 1 in NYSE & 10.81 to 1 in Nasdaq

Declining Stocks led by 3.16 to 1 in NYSE & 3.91 to 1 in Nasdaq

New 52 wk lows were in lead again 59 in NYSE & 56 in Nasdaq

VIX jumped 10.75% @ 39.76

NOW all eyes & ears are on Ben Bernanke @ 10 AM Eastern Standard Time...he has the unfortunate job of actually knowing what is wrong with US economy & he is trying his best to lead us out of this mess over & over...BUT politicians are "lovin' it" that under Obama, economy is going downhill & there is no support to get anything done.....

I can assure you that no matter what BB proposes....HFT will jerk this market big time..as they have whole day to play this game.....the only way to counter is to be in sector which will benefit from HFT proxies on CNBC who will jawbone BB game plan.....that sector is GOLD.....

I expect market to rethink what BB is detailing...which will help US economy..BUT will be inflationary...thus GOLD rules again.....

AH ER were greeted as follows :

OVTI Down 22.72%

ARUN UP 5.08%

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold & Silver UP

BLOG does NOT give buy or sell.

Saleem

Indices down 1.08% to 1.49%..waiting for Bernanke magic !!!!

Indices are lower in anticipation of a firm statement from Ben Bernanke to help US economy from negative growth.I am sure Fed chief will come through as usual......that is the reason that markets are holding up pretty good after 3 days of UP move.

Internals are almost 3 to 1 negative

More 52 wk lows

Gold UP $5.80 @ $1759.90..it went down to $1705 in futures market this AM.

Oil UP 73 cents

Canadian $ UP 14 tick @ 101.38

VIX UP 8.05% @ 38.79

In my portfolio :

Bought AAPL in pre-market @ $362

Bought AMZN @ $194.44

Bought BIDU @ $133.90

Portfolio is AUY,AAPL,BIDU, AMZN

@ 125% of my normal exposure

Most stocks are down

@ 1.44 following are green :

AUY,BIDU,NFLX,GG,PHYS,VXX,PCLN,
MOS,SINA,SOHU,NTES,AG,ABX,AEM,
BAC,C....

BLOG does NOT give buy or sell.

Saleem


Wednesday, August 24, 2011

Indices closed UP three days in a row....NICE !!!!

Indices were UP.88% to 1.29%. Today's close was the-most impressive as it closed near high of the day.

This market has been extremely difficult to read as it turns on a dime on no news, as we are rallying in anticipation of Ben Bernanke speech...are we to expect sell on the news or rally into higher ground...that we have to wait to get the answer. I always accept TAPE as it rolls out..so far so good for a change.

AH AAPL was the big news, this is a great buying opportunity as Steve officially exits the scene. This expected news was a big hangover on AAPL stock price....

Steve Jobs who is a living genius deserves our prayers in his fight with "pancreatic cancer".....

AH AAPL range was $350.00 to $376.26..last trade $357.02 down $19.16

The other news was GOLD...Down $104 in a day on rumour of "margin increase" which turned out to be true AH...Now you have to dish out $9450 to buy $175,700 worth of gold......This was a "much needed correction" which clears overbought condition... RSI in GLD after close is 55.86 from 85 area in most of August...... 

In this gold correction GLD lost only 7.13% after gaining 55.69%.....so please no sympathy for two days of pullback....

Internals of the market were as follows :

UP volume was 3.42 to 1 in NYSE & 2.85 to 1 in Nasdaq

Advancing stocks led by 2.26 to 1 in NYSE & 1.97 to 1 in Nasdaq

New 52 wk HIGHS were in the lead ...27 in NYSE & 49 in Nasdaq...what a nice change in technicals of this market.

BUT BUT VIX is still too high ..closed down only 1.02% @ 35.90......this need to be in 20 to get all  clear ...

AH Futures Down

AH Asian Markets UP

AH Oil UP

AH Gold UP $8.50 @ $1765.80..it was as low as $1744 AH..when weak hands got out on margin news......

AH Silver UP

BLOG does NOT give buy or sell.

Saleem

Indices mixed....NICE !!!!

Indices are mixed with Nasdaq showing slight weakness...

Internals are neutral

New 52 wk lows are shrinking in 30s currently.....big improvement

Gold sinking down $95.20 5.12% @ $1763.10

Oil UP 82 cents

Canadian $ UP 2 tick @ 101.23

VIX UP 1.27% @ 37.63...not a good sign for equities

In my portfolio :

Doubled up in AUY @ $14.71...exposure @ 49%

My comfort level with market is extremely low, AUY has been among the best stock in gold sector in terms of price performance & earnings growth......Gold despite its expected pullback of about $150 per oz which is 7.6% from from all time high, has outstanding future based on currency & economic malaise worldwide...i am expecting gold to go to $2000+ in short order.....

No matter what Ben Bernanke proposes it will help gold.....

@ 1.45 following are Green :

GOOG, PCLN,JCP,RIMM,LVS,MOS,MA,V,
SU,BAC,C,CTRP,FMCN,CCJ,NYX,NDAQ,
GS,FWLT.....

BLOG does NOT give buy or sell.

Saleem

Tuesday, August 23, 2011

Market strong rally today..UP 2.97% to 4.29%......NICE !!!!

Market staged a "strong technical rebound" after 4 weeks of non-stop selling.

This was long overdue & it happened today, NOT yesterday?

Internals of the market were as follows:

UP volume led by 7.27 to 1 in NYSE & 12 to 1 in Nasdaq

Advancing stocks led by 5.55 to 1 in NYSE & 4.49 to 1 in Nasdaq

New 52 wk lows were still in lead, 157 in NYSE & 118 in Nasdaq

VIX down 14.54% @ 36.27

Gold took a well deserved beating from $1918 to low of $1831.80..a drop of $86+

Oil closed @ $85.44

Canadian $ went UP by 24 tick to 101.23

SO..how some of the popular stocks fared today, here is the result :

JKS UP 15.11%
LULU UP 11.38%
AMZN UP 9.02%
APKT UP 7.78%
BIDU UP 7.67%
RVBD UP 7.17%
CRM UP 7.04%
NFLX UP 6.98%
PCLN UP 6.79%
CNQ UP 6.48%
POT UP 6.21%
AAPL UP 4.81%

I am sure, some of you are surprised by TAPE action in some?......sometimes it pays to have your OWN trading list which may OUTPERFORM some of the-most talked about name in CNBC?

How do i interpret today's much anticipated "short covering" & "technical bounce"......I am glad it came & gave back some capital back to investors / traders........BUT this market remains very difficult & tough to trade...what worked today may not work tomorrow.....so be careful & not get EUPHORIC with one day rally...remember many stocks are down 30% still......

In my portfolio :

Bought AUY $15.17 as gold was being pummelled...25% allocation.

AH Futures Down

AH Asian Markets UP

Oil UP

Gold Down

BLOG does NOT give buy or sell.

PS...got my EchoCardiagram done, now have to go for more blood test...with your best wishes...i am feeling much better, Pulse staying normal for 8 day's now.......Beta Blocker is working.....

Saleem

Monday, August 22, 2011

Indices closed in green.....

After four weeks of selling, indices were green @ close.Volume was lower...NOT a good indicator....on technical bounce / short covering day ?

Internals were slightly negative.

52 wk lows expanded their lead in both NYSE & Nasdaq

VIX closed @ 42.44..stubbornly high ?

Stocks which were UP 2% or more included VXX,AUY,GG,
GLD,APKT,SLW,AG,TZOO,ALTR,BWLD.....

CNBC pundits are as confused about market as rest of us.
Jimmy the Cramer has a list of 10 things to happen before market will rally.This is an expanded list from last time of 7......IF we accomplish all 10 things then this market will be 3,000 Dow points higher in new high territory....???

Bottom line is... that this market has many sellers but few buyers, thus downward pressure is ON......

AH Futures UP

AH Asian Markets Mixed

AH Oil,Gold & Silver UP

BLOG does NOT give buy or sell.

Saleem

Indices UP .51% to .79% on short covering.....

Indices are trying for an UP day after a long time.

Currently indices UP .79%

Internals are slightly positive..

New 52 wk lows 248 in NYSE & 183 in Nasdaq

VIX Down 2.86% @ 41.82

In my portfolio :

Sold LULU

Sold RVBD

100% cash

I do not see too much strength in this market. After four weeks of selling, i was expecting strong technical bounce. I have a feeling that we may go below 1100.......which may trigger "bear market 20% down "

I will wait for buying into strength.

Oil UP $1.99

Gold UP $39.80..another record high @ $1889

Canadian $ UP 15 tick @ 101.15

Most stocks are UP

@ 2.27 following are RED :

RVBD,CMG,FCX,MOS,MPEL,LVS,WYNN,
SU,JKS,C,BAC,AMZN,CNQ,CTRP,FMCN,
GS....

BLOG does NOT give buy or sell.

Saleem

Sold everything ...100% cash

Sunday, August 21, 2011

Message of the market is.......?

Market is giving a verdict on the state of affairs in US & Europe, Leadership in both continent is spineless NOT willing to even acknowledge that there is a serious problem which needs immediate resolution.

In US Obama is claiming US IS & ALWAYS will be AAA...a statement which challenges FACTS & INTELLIGENCE of US citizens who KNOWS better....

This week MS,C,JPM all downgraded US GDP projection but cream of the crop GS had to downgrade THREE times in August...BUT Obama & US politicians see nothing WRONG.....

SO..what is the message of the market ?

Worldwide investors & traders have lost confidence in US & its ability to even RECOGNIZE that there is a problem...unless this class of 2011 politicians is not thrown out, nothing will change.....

SEC on the other hand has no monitoring of how manipulation is ripe in US trading, HFT now controls every tick in most stocks.......another spineless US agency with no accountability.

SO there is focus on Friday in Jackson Hole economic event so Ben Bernanke does the heavy lifting for losers.....

As of Friday's close, we are down 18.03% in S&P 500, RSI @ 33.37....

Looks like that we are set for a "technical bounce"

I do not see this market going higher than 1210 area...then back down to new lows.....

We currently have "double bottom" in indices with Nasdaq closing lower than previous lows.....

Looks like volatility will remain high like previous bounce, which will be a tell tale of weak bounce & test of triple bottom......

Based on inaction by US politicians triple bottom may be a given.....

SO..how you think many popular stocks have fared in this double bottom, here is a breakdown with high, close, $ loss & % loss :

AAPL $404.50 $356.03 <$48.47> <11.98%>
CMG $337.32 $279.37 <57.95> <17.18%>
PCLN $561.88 $488.95 <$112.93> <20.09%>
AMZN $227.45 $178.93 <$48.52> <21.33%>
GOOG $627.50 $490.92 <$136.58> <21.77%>
BIDU $165.96 $126.98 <$38.98> <23.5%>
LULU $64.49 $46.00 <$18.49> <28.67%>
CRM $160.12 $111.00 <$49.12> <30.68%>
CAT $116.06 $79.97 <$36.09> <31.10%>
NFLX $304.79 $205.21 <$99.58> <32.67%>
SINA $147.12 $90.05 <$57.07> <38.79%>
NTAP $61.02 $35.95 <$25.07> <41.08%>
FFIV $145.76 $69.32 <$76.44> <52.44%
APKT $84.50 $39.92 <$44.58> <52.76%>
ARUN $36.40 $16.34 <$20.06> <55.10%>
TZOO $103.80 $32.55 <$71.25> <68.64%>
RVBD $44.70 $20.61 <$24.09> <68.79%>

There are many ways to analyze above "reality"......First, this is a "bear market TAPE"

Second, this market is "not business as usual"

Third, there is a dire need to learn from above reality, i have observed a "real stubbornness of NOT to do any thing different"

This is a scary market & adaptability to above is more than urgent.

Try to increase knowledge base from this difficult market.....just imagine IF we go to new lows.....after 1100 support, next support maybe 1040 area..that is another 5.5% slump......

Too much complacency & too much entertainment focus on CNBC. Money is NOT entertainment ?

It is your money, you must place it prudently in your trading account or IRA or ROTH IRA...it is your hard earned $.....

Wall Street teaches you to LEARN & ADAPT "immediately" to new reality.

PRESERVATION of capital should be Job 1.

BLOG does NOT give buy or sell.

Saleem

Friday, August 19, 2011

Lower low (1130.57) in S&P 500 today......

Indices are showing no sign of life so far. Today is Option Expiry for week & month. Also there is horrendous amount of margin call which needs to be cleared up by 3.15 PM, after that we may have a chance of half decent close.

Gold UP $33.10 ..a new record high

Oil UP 46 cents

Canadian $ UP 37 tick @ 101.26

VIX barely down, currently negative by 1.73% @ 41.93....it went to 45.40 this AM...unless VIX tumbles 30% or more ....it will be difficult to sustain any rally.

S&P 500 low today is 1130.57, making lower low, RSI @ 34.52

Down volume leading by 50%

New 52 wk lows 263 in NYSE & 241 in Nasdaq

In my portfolio :

Added 50% LULU @ $47.10

Portfolio is RVBD & LULU

$ weighting is 60% LULU & 40% RVBD

Exposure 68%

Most stocks are Down

@ 1.59 following are green :

RVBD,AUY,BIDU,PHYS,GLD,GG,JCP,SLW,AG,
RIMM,BWLD,FNSR,PWRD,AEM,KGC,ABX....

Next post on Sunday by 2 PM....

BLOG does NOT give buy or sell.

Saleem


Thursday, August 18, 2011

Indices closed Down 3.68% to 5.22%.....

Indices took a beating again, hurting most investors & traders.

Internals of the market were as follows :

Down volume led by 35.90 to 1 in NYSE & 48.14 to 1 in Nasdaq

Declining stocks led by 16.38 to 1 in NYSE & 10.21 to 1 in Nasdaq

New 52 wk lows 201 in NYSE & 241 in Nasdaq

VIX UP 35.12% @ 42.67

Oil @ $82.38

Gold @ $1822

S&P 500 low today was 1131.03 while previous low was 1101.54

RSI @ 35.23

SO..what happened today ?

Mr President went on vacation, Senators & Congressmen are long gone......while economic news keeps getting from bad to worse....lack of concern / resolution is taking a huge toll in traders psychology....

HFT is very happy to come in & take this market anywhere they want. Volume is totally dominated by HFT..on a day like today it could be as high as 80%.....based on huge % decline in most companies.

There was no bid in this market as down volume went as high as 97%.....

The only way to counter this one sided game is to position to trade quickly with profit.

You cannot have 100% exposure in this type of volatile market......

Even with all my experience, my two stocks are being taken to the cleaners in 48 hrs......

RVBD & LULU have great prospect but they are being trashed...BUT i can assure you that somehow i have to figure out a way to come out with profit.......

IF you are treating this market with "business as usual"...you are going to get hurt badly & may not recover.......

I see inaction in US & Europe, any decision IF they end up making will be "weak @ best"

SO we will have UP DOWN UP DOWN market.......which may not be good for your financial health....

SO....please try to understand this "weak trading environment" & become very small & trade often to lock any profit.....it is singles & not home run which you are after.....

AH ER were treated as follows :

MRVL UP 10.69%

HPQ Down 9.83%

LDK Down 21%

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

BLOG does NOT give buy or sell.

Saleem

S&P 500 low today 1134.32 above previous low of 1101.54......

Markets worldwide are in full retreat of about 4% based on "a brand new revelation that worldwide economy will grow slower"......Morgan Stanley must have worked very hard to come up with this "new prediction"......

Internals are extremely weak...91% to 97% is down volume.....another great buying opportunity in this retest of support.....

CMF is not as negative, only 0.098..much better than last selling....a positive indicator...

RSI in S&P 500 is 35.43..in strong buy zone

Remember buy low & sell high ?

Gold UP $23.60

Oil Down $5.52

Canadian $ Down 1.14 cent @ 100.84

VIX UP 33.25% @ 42.08

Portfolio is LULU & RVBD....nothing sold ..nothing bought...

Majority of stocks are down by 10 to 1

@ 2.17 following are green :

PHYS,GLD,AG,JASO,SINA....

BLOG does NOT give buy or sell.

Saleem

Wednesday, August 17, 2011

S&P 500 & Dow closed UP, Nasdaq Down......Mixed day in market....Not Bad !!!!

Dow & S&P 500 closed UP, while Nasdaq was weak.

Internals were mixed.

AH ER were greeted as follows :

NTAP Down 12.51%

JDSU Down 2.47%

SINA UP 5.49%

NTES UP 4.16%

Market has been tough to make money & IF you are in weak stocks then loss is steep.You need to book quick profit in this UP / DOWN markets.

Here is a list of stocks which i closely monitor, Here is how they have performed since market lows vs as of tonight's close:

LVS UP 22.75%
AUY UP 22.30%
LULU UP 11.47%
CNQ UP 11.19%
APKT UP 10.98%
FFIV UP 10.89%
PLCM UP 10.73%
RVBD UP 8.79%
CAT UP 8.41%
AAPL UP 7.76%
BIDU UP 7.20%
PCLN UP 6.01%
NFLX UP 4.85%
AMZN UP 3.09%

This list is very interesting for those who have different style of investing or trading.IF you were an investor & had picked top 2, then all this gyration in markets meant nothing.Even IF you had picked last 2, you will still be positive from the lows.

Above list also illustrates that strong stocks DO outperform, which may not be obvious when there is so much noise in CNBC.

AH Futures Down

AH Asian Markets Down

AH Gold Silver & Oil Down

BLOG does NOT give buy or sell.

Saleem

Dow gave up gains & then some......

Traders are selling the rally big time.Dow was UP 123.74 points @ high of the day, then went down to 11,350.76 which was a slump of 178.91........

All Indices are red, after being green......

Oil UP $1.06

Gold UP $3.69

Canadian $ UP 18 tick @ 101.92

VIX Down 1.22% @ 32.45..low was 30.81.....

In my portfolio :

Sold AUY

Added 75% RVBD @ $24.88

Portfolio is LULU & RVBD

$ weighting is equal @ 50%

Exposure 52%

Internals are mixed, with Nasdaq showing 50% negative...new lows are in the lead in Nasdaq

@ 1.27 following are green :

AUY,CNQ,POT,GLD,GG,FCX,MOS,MPEL,WYNN,
SLW,AG,BAC,FMCN,PWRD,SU,ABX,AEM,KGC,
NYX,FWLT.....

BLOG does NOT give buy or sell.

Saleem

Tuesday, August 16, 2011

Indices closed down .67% to 1.24% on profit taking......

Market was UP for many day's in a row, today was profit taking.

By the end of session, indices closed near mid point loss.....not bad for a jittery HFT dominated market.

HFT is super active with their supercomputers on down day's, distorting volume picture to scare unwary retail traders.

Technicians & bears continuously harp on low volume on UP day's & high volume on Down day's......as we all know that sometimes 70% of all volume is generated by HFT...

Meeting between Sarkozy & Merkel was extremely productive & long term solution driven.

Market manipulators alway's have expectations which is  based on their short term gains, Both Merkel & Sarkozy said NO to any short term "non-fixes"

Now you can see why HFT pulled the market down as their pre-positioning did not pan out......HFT do not like losing their bets as it involved real $$$...

I have a strong feeling that we will go to the high end of the range now 1240+, I am expecting a green close on Wednesday.

Internals of the market were negative by 4 to 1

New 52 wk lows were in the lead 15 in NYSE & 43 in Nasdaq

VIX is ready to break DOWN..today it was barely UP 3.07% @ 32.85

AH ER were greeted as follows :

DELL Down 7.91%

BCSI Down 17.99%

ADI Down 2.20%

AH Futures Down

AH Asian Markets Down

AH Oil,Gold & Silver UP

BLOG does NOT give buy or sell.

Saleem

Indices Down .69% to 1.34%.....

Market is in typical summer doldrums, looking for catalyst to move in either direction.

Internals are negative minimum 4 to 1...

New 52 wk lows are in the lead, in Nasdaq 40 made the list..

Market is trying to go green, which should bolster bulls.....

Oil Down $1.01

Gold UP $27 to close @ record $1785

Canadian $ Down 40 tick @ 101.65

VIX UP 3.17% @ 32.88..still high ..BUT running out of gas ?

In my portfolio :

Bought LULU @ $55.10

Portfolio is LULU,RVBD,AUY...

Here is my $ weighting :

LULU 54.22%

RVBD 30.37%

AUY 15.41%

My exposure is @ 48% of normal

Most stocks are down..

@ 2.14 following are green :

PHYS,GLD,JKS,VAR....

BLOG does NOT give buy or sell.

PS...Many thanks for all the wishes, for my speedy recovery.

Saleem

Monday, August 15, 2011

Indices Gained 1.88% to 2.18%.....NICE !!!!!

Indices closed with almost 2% gain......

On pundit watch, Carter Worth feeling good & Jimmy the Cramer is downbeat...Carter says we hold 1100..i say NOT

Gold closed UP @ $1755.50

Oil Closed UP @ $87.88

Canadian $ closed UP @ 101.62

VIX closed Down 12.35% @ 31.87

In my portfolio :

Sold CNQ

Sold LULU

Portfolio is AUY & RVBD

Stocks which were UP 3% or more included RVBD,AUY,NTES,MPEL,
AG,VMW,SOHU,SLW,SU,
JKS,SVM,UXG,JDSU,CIEN,
FNSR,C,JASO,STP,BAC,CRUS.....

AH Futures Down

AH Asian Markets UP

AH Gold UP

AH Oil Down

BLOG does NOT give buy or sell.

PS...I had a personal emergency, suffered from Atrial Fibrillation with a reading of 157 for pulse..rushed to emergency @ 1230 noon...they worked on me for four hrs...electrical shock did not correct my irregular heartbeat, but two intravenous chemicals brought me to normal reading & regular heartbeat. As it is Canada they sent me home around 530PM after monitoring my vitals..have to see cardiac specialist & go for Eco-cardiogram......feeling tired but better......

Saleem

Sunday, August 14, 2011

What a week it was.......

Last week Markets created history by slumping the most points back to back, never ever this happened before.

Internals of the markets were trashed to the most negative reading ever.

Any breakdown like this is never a good thing, market is telling us, that there is serious economic issues which needs to be resolved.

Last week was a "preview of 2008".....

We have to respect what market is telling us & trade accordingly.

This breakdown is extremely intense & sharp.

This breakdown is different from 1987, 2000 & 2008 & will play out differently.....

I do not believe that low of 1101.54 will hold.......will be tested....

We have rallied to 1178.81 & may be getting close to the top of this range.....1220-1240 may be resistance.....

It will take time to build technical strength, sometimes we are looking @ months of test & retest.

The best way to play this market is to recognize the "fragile technical health" & then be trigger happy.

Money is made in every situation IF you are quick on the trigger & WAIT for attractive buying level.

Gold has to be part of "safer bet"..Bullion is preferred BUT some gold stocks are making new highs while others are struggling.

Consumers sentiment came in @ lowest level since 1980.....this is a historic negative reading & one has to be careful with all its implications.....

Economic growth worldwide is under severe stress due to inflation as Central Banks are raising interest rates in China, India......

US will show modest GDP growth which may range from 1% to 2%...

Politicians in US will play their ongoing dirty game of no substance & all talk. This will affect markets negatively.

Many stocks have come off their lows, & hopefully you participated in this technical move, here is the list of some movers :

AAPL low $353.02 close $376.99 gain of 6.79%
BIDU low of $128.70 close $150.15 gain of 16.67%
AMZN low of $190.05 close $202.30 gain of 6.44%
NFLX low of $221.50 close of $244 gain of 10.16%
PCLN low of $480.84 close of $503.11 gain of 4.63%
CAT low of $80.84 close of $89.81 gain of 11.09%
LVS low of $36.08 close of $43.59 gain of 20.81%
APKT low of $45.10 close of $55.58 gain of 23.24%
PLCM low of $22 close of $25.61 gain of 16.36%
FFIV low of $70.99 close of $81.90 gain of 15.37%
RVBD low of 22.40 close of $24.57 gain of 9.69%
CNQ low of $33.14 close of $36.67 gain of 10.65%
AUY low of $12.69 close of $14.83 gain of 16.86%
LULU low of $47.16 close of $58.15 gain of 23.30%

So..the purpose of above table is to highlight the lows in this slump & how quickly stocks have moved UP.You will also notice that some stocks did way better than others......

This is an extremely tough market & it is NOT going to change anytime soon.

Ensure your OWN comfort level, it is NOT business as usual.

Exposure needs to be adjusted very quickly.

Good luck in your OWN understanding of this market TAPE.

Unless US & Europe get its debt under control....then only we are off to the races.....till then UP, DOWN moves

BLOG does NOT give buy or sell.

Saleem

Friday, August 12, 2011

Indices showing technical strength, back to back UP move ......NICE !!!!

Indices are showing strength by going UP two day's in a row....BUT we do not have permission to go UP from all knowing all telling Jimmy the Cramer......nice to see him upset with this market again & again....

Indices are UP from .74% to 1.34%..internals are UP almost 3 to 1

Gold Down $7.50

Oil UP 72 cents

Canadian $ Down 47 tick to 101.08

VIX Down 9.69% to 35.22...much better for stock market bulls

In my portfolio :

Bought AUY @ $14.70...Gold is not showing expected weakness, considering margin was raised yesterday ?

Portfolio is CNQ,LULU,RVBD,AUY......

Most stocks are UP

@ 1.22 following are down :

CNQ,AUY,JCP,GG,GLD,FCX,MOS,NFLX,AG,
PHYS,VMW,ALTR,CRM,IBN,V,SU,ATML,
CIEN,JASO,STP,SNDK,SINA,SOHU,SOL,
ABX,AEM,MA,NDAQ,GS,SNE,MPEL......

Next post by 2PM Sunday....

BLOG does NOT give buy or sell.

Saleem

Thursday, August 11, 2011

Indices closed UP 3.95% to 4.69%....NICE !!!!

Indices staged a technical bounce from extreme oversold condition.

Jimmy the Cramer is extremely upset @ this technical bounce...reason....he was predicting ongoing decline only yesterday......I guess every rally can only happen IF he "approves it on his show".....he was NOT happy that millions of traders & investors were able to recoup some of their losses......strange guy for sure.....do not know from which end he is thinking tonight ?

Internals of the market were :

UP volume led by 39.24 to 1 in NYSE & 37.95 to 1 in Nasdaq

Advancing stocks led by 12.31 to 1 in NYSE & 5.09 to 1 in Nasdaq

New 52 wk lows were 121 in NYSE & 121 in Nasdaq..NO its not a typo

VIX Down 8.63% @ 39.28...extremely high for my comfort.....

As you can clearly see from above stat that internals were as strong as indices.

European Union is starting a ban on shorting & rumour mongering effective @ open on Friday......BUT these manipulators will use US market to short interlisted stocks......so we may see some pressure in US on interlisted Banks...... US market could face some pressure.....same fund needs new avenue to short.

Friday is Weekly Option Expiry which MM may exploit also.....BUT i am NOT expecting another crazy day..mild negative or slight positive by close...which will be a victory for bulls......

Also do not forget to book gains as it happens........

AH ER were greeted as follows :

NVDA +11.71%

JWN +3.83%

RENN <11.57%>

AH Futures are Down

AH Asian Markets UP

AH Gold UP

AH Oil Down

BLOG does NOT give buy or sell.

Saleem


Indices UP 3.37% to 4.03% after digesting all media fears.......

Something interesting happened on the way to technical breakdown, market gathered strength ?

How ironic is today's strength, when every pundit & technicians were ready for way more downside....

Herd mentality never works in Wall Street...IF everyone is panicking then bottom is seen already....

HFT supercomputers know how to milk for their OWN benefit....

Anyway, those who look for answers from media can never win.......

Indices are UP nicely today thanks for digesting just about every possible negative scenario....

Gold Down $34.50

Oil UP 84 cents

Canadian $ UP 48 tick @ 101.00

VIX down 7.54% @ 39.75...many traders are still buying VIX

Portfolio is CNQ,LULU,RVBD

Most stocks are UP

Internals are positive by minimum 4 to 1

@ 2.06 following are Red :

AUY,GG,SLW,AG,SVM,ABX,KGC,AEM...

BLOG does NOT give buy or sell.

Saleem

Wednesday, August 10, 2011

Indices lows not violated in today's slump......

While fear as measured by VIX went to a new 52 wk high today & indices took a drubbing of 4.09% to 4.62%, we held above recent lows of yesterday.

Now that Carter Worth has concluded that technically "uptrend is broken" which fits technical definition of uptrend......BUT that is how market starts to build an uptrend......

Fear on "mother of all show CNBC Panic Money...in children's TV schedule its shown as Fast Money" is @ peak, which is a reliable "contrary indicator"

Here is the internals of the market :

Down Volume led by 15.08 to 1 in NYSE & 15.54 to 1 in Nasdaq

Declining Stocks led by 2.71 to 1 in NYSE & 4.29 to 1 in Nasdaq

New 52 WK low 211 in NYSE & 217 in Nasdaq

S&P 500 closed @ 1120.76 while low today was 1118.01, above lows of yesterday

RSI closed @ 26.59 much healthier than 16+ we had @ low two day's ago

CMF less negative than yesterday's low

All of the above stat is telling ME that selling does not have the intensity we saw in prior days....most stat above is pretty normal & does NOT corroborate the indices......maybe the HFT machines were in overdrive to scoop shares from retail.....

Based on today's TAPE, it seems that "bottom is in for now"

In my portfolio :

Added 60% RVBD @ $24.06...bought before big slump....

Portfolio $ weighting is :

LULU 45.94%

CNQ 29.14%

RVBD 24.92%

AH CSCO reported a beat & guide UP, stock UP 6.70%

AH Futures are strong.....CNBC panic stricken gurus take note ?

AH Asian Markets Down

AH Oil & Silver Down

AH Gold UP

BLOG does NOT give buy or sell.

Saleem

Market testing support third time in three days........

Indices are taking on the chin again, as NO resolution in sight of ongoing US & European debt issues.

In US politicians are enjoying summer holiday's, no sense of urgency. In UK due to riots parliament was called back..BUT in US.....no business as usual ?

Today S&P 500 went down to 1125, which is higher than lows of last two days...which is technically encouraging...maybe we have "triple bottom in place"

RSI is 28.30

Internals are weak, Down volume leading by almost 9 to 1 Nasdaq

Gold @ record high of $1800/oz, currently UP $37.60

Oil UP $2.16 @ $81.46

Canadian $ Down 1.31 cent @ 101.02

VIX went to a new 52 wk high @ 44.41, currently @ 41.55 +18.51%

In my portfolio :

Sold AMZN

Sold AUY

Doubled my position in LULU @ $50.28

Portfolio is CNQ, LULU, RVBD

$ weighting is :

LULU 49.98%

CNQ 31.85%

RVBD 18.17%...No i have not sold a single share of RVBD, i may add when i am ready.

Most stocks are down

@ 1.33 following are green :

LULU,AUY,GG,SLW,AG,APKT,NTES,
SOHU,JKS,SVM,ATML,JASO,SINA,
LDK,ABX,AEM...

BLOG does NOT give buy or sell.

Saleem




Tuesday, August 9, 2011

Indices closed UP 3.98% to 5.29%......NICE !!!!!

Ben Bernanke, the sole decision maker who does give a damn as to what is happening to US economy...made a crucial decision to hold interest rate lower till middle of 2013.This gave clarity to everyone in dealing with their finances.This also gave a floor to US economy, which was being lamented as a basket case due to political grandstanding / inaction.

Market celebrated Fed decision by closing @ best level of the day.Low today was 1101.54 & we closed @ 1172.53.

RSI in S&P 500 closed @ 31.68

Internals were as listed below :

UP volume led by 34.31 to 1 in NYSE & 24.02 to 1 in Nasdaq

Advancing stocks led by 11.59 to 1 in NYSE & 4.82 to 1 in Nasdaq

New 52 wk lows were 680 in NYSE & 443 in Nasdaq

VIX tumbled 26.96% @ 35.06...still too high & should have fallen more ?

There is a big sigh of relief in traders mind today, but we are still in the same environment which caused this tumble. It is a smart idea to keep booking profit as long as market allows.As i have pointed out that 1260 area is resistance & we may not make it there.So stay in your game of buying strategically & booking profit.

The question may be what is strategic buying ?

Today i bought CNQ which had tumbled near lows because of Oil trading below $80, so i took a position hoping that Oil cannot stay below $80 for too long..a strategic buying.

I also bought AUY close to 52 wk high, as i believe that world economic problems will not go away anytime soon & Gold may keep climbing to new highs. As we all know that miners have not participated in Gold moving UP, but AUY has made new 52 wk high & its ER was superb with no excuses & guidance strong.....a strategic buying.

AH ER were greeted as follows :

CREE + 9.19%

SPWRA <2.68%>

AH Futures Mixed

AH Asian Markets UP

AH Oil UP @ $81.01..Oil closed in regular trading @ $79.30

AH Gold UP @ $1755.80...Gold closed in regular trading @ $1743

BLOG does NOT give buy or sell.

Saleem


Fed statement positive for low interest rate till 2013

Indices did its usual YOYO moves after fed statement, but is back in positive territory.

Indices are UP 1.19% to 2.06%

Oil Down $2.72

Gold UP $55.30

Canadian $ UP 1 tick @ 100.69...CAD has lost 5 cents against US$ in 5 trading days.

VIX Down 16.4% @ 40.13

In my portfolio :

Sold LVS

Sold FFIV

Bought AUY @ $13.39

Bought CNQ @ $34.35

Portfolio is AUY,AMZN,CNQ,LULU,RVBD

Most stocks are UP

@ 3.23 following are Down :

FFIV,ALTR,AG,JKS,
CCJ,GS.....

BLOG does NOT give buy or sell.

Saleem

Monday, August 8, 2011

Indices closed down 5.5% to 6.9% in high volume selling......

Indices closed almost @ low of the day, taking down all support in indices.

Politicians are still not getting it, still busy with face time on TV....

Internals were as listed below :

Down volume led by 81.70 to 1 in NYSE & 180.41 to 1 in Nasdaq....this stat could be @ all time record.

Declining stocks led by 65.89 to 1 in NYSE & 20.74 to 1 in nasdaq

New lows were 1334 in NYSE & 683 in Nasdaq

VIX jumped 50% @ 48

All the above stat in combination is much more than capitulation, but we are facing an unusual situation in US where politicians have lost it completely....thus the pain continues.

S&P 500 has lost 227.72 points in roughly 2 weeks, a stunning drop of 16.91% ....

RSI @ close @ 16.46...i thought this low can happen in a nuclear attack ?

Oil is tumbling Down $5.57 @ 81.31

Gold @ all time high UP $61.40 @ $1713.20

AH picture is equally disturbing....

Futures are down sharply Dow 292, S&P 500 31 & Nasdaq 70...so we are all set to tumble @ open again......

AH Asian Markets are down sharply Nikkei 4.48%, Hang Seng 7.28%

AH Oil down $5.02 @ $76.29

AH Gold UP $29.40 @ $1742.60

BLOG does NOT give buy or sell.

Saleem

Indices in freefall, down 3.65% to 4.72%......

S&P downgrade of US debt is having NO effect, in our politicians will to resolve deficits.

Indices down almost 5%

S&P 500 low today so far is 1139.68...RSI is S&P 500 is an unbelievable 17.87 NOW

Gold UP $67.59 @ all time high of $1716.30

Oil Down $3.41 @ $83.47..8 months low

Canadian $ Down 89 tick @ 101.03

VIX UP 29.78% @ 41.25

Portfolio is AMZN,FFIV,LVS,LULU,RVBD

Internals are negative..down volume leading by 19 to 1 in Nasdaq

New 52 wk lows are 1191 in NYSE & 545 in Nasdaq

@ 2.06 following are green :

GG,AUY,ABX,AEM......

BLOG does NOT give buy or sell.

Saleem

Sunday, August 7, 2011

US downgrade reaction is negative from Middle East Bourse.....

US Politicians of 2011 have degraded US economic rating to lowest level EVER.....AA+

All the hostility & incompetence is obvious.

IF these morons don't wake up fast, S&P is saying that another downgrade is coming.

There is a quick chance that Fitch & Moody's may join the downgrade also.

Whole world is disappointed that US politicians are of the lowest calibre, they do not care about resolving budget deficit. They want to keep all the pork project.

Middle East stock exchanges are open on Sunday, which is a working day.

They closed down about 2.5% ...@ open they were down 5%.+++....

As to the reaction in our HFT driven market, look for S&P 500 to test our low of 1168.09....there is a good chance that low may hold.... BUT if it is broken, then 1150 area is a good support.....

US market has been telegraphing serious issues in US economy, S&P downgrade may put a bottom to this vicious selling......

RSI in S&P 500 is 23.90......this itself is an oversold condition.

Gold is expected to make a new all time high on Monday.....BUT gold stocks tend to give up all gains when market is lower.....So GLD works & miners are so so....

I am expecting a V pattern in markets on Monday, HFT will be major buyers near lows.

When FEAR is OPTIMUM....market turns UP

RSI is giving a clear picture of a turn UP is imminent......

This market now is a daytraders dream.......

Upside resistance remains in 1260 area.....

It is NOT a buy & hold market....

Booking gain is highly recommended on a daily basis...

Swing trading is ideal, buy on Monday to sell on Tuesday should work.

Stay within your OWN comfort level. It is going to be rough ride from hereon.

BLOG does NOT give buy or sell.

Saleem

Friday, August 5, 2011

S&P 500 low today 1168.09......RSI low 20.80

Indices were taken to lowest level by HFT, despite above consensus job growth of 117,000.

Many big players were short this market & were expecting a lousy job report. When jobs report came in better, they shorted this market with all their might to make an unbelievable $.

As many big players are still short, we have to wait till close to know the real game.

IF we close above 1201 in S&P 500, then we are technically OK.

Gold Down $6.70

Oil UP 31 cents

Canadian $ UP 28 tick @ 102.29

VIX went to new high @ 39.25, currently @ 32.56 UP 2.84%

Internals are mixed some positive some negative.

New 52 wk lows were 876 in NYSE & 405 in Nasdaq...worst reading in this selling, although i have seen 1000 in past selling.

In my portfolio :

Bought AMZN @ $195.90

Portfolio is AMZN,FFIV,LVS,LULU,RVBD

Allocation is 75%

Most stocks are down

@ 1.53 following are green :

AMZN,CAT,APKT,NTES,GG,RIMM,VMW,CMG,
PCLN,GOOG,CRM,MA,AMCC,FNSR,AAPL,SOHU,
CCJ,AEM,NDAQ,GS,VAR,FWLT.

Next post Sunday by 2 PM

BLOG does NOT give buy or sell.

PS...was away from computer, doing some chore.Nice to see AMZN order was filled......

Saleem