Tuesday, August 2, 2011

Indices down 1.07% to 1.33% on weakness in economy....

As summer is setting in, markets are heading lower.There has been more weakness in economy.

S&P 500 is way south of 200 DMA..which is a technical violation.

Internals are down from 2 to 1 to 4 to 1

Gold UP $21.40 @ $1640.50..a new record high

Oil Down $1.01

Canadian $ Down 47 tick @ 104.12

VIX UP .08% @ 23.68...market may improve ?

Portfolio is GG,FFIV,LULU,RVBD

Most stocks are Down

@1.45 following are UP :

GG,RVBD,JCP,SLW,AG,AUY,SOHU,CRM,MA,
JKS,SVM,UXG,ABX,KGC,AEM,SNE,VAR,FWLT....

BLOG does NOT give buy or sell.

Saleem
at

9 comments:

  1. cAugust 2, 2011 at 10:58 AM

    Saleem

    Hey friend

    Look at APPLE
    it is on sale big time

    I may get some??? Dunno, $389 is cheep
    Any news that I missed

    thanks as always

    ReplyDelete
  2. Stocks100August 2, 2011 at 11:02 AM

    Hi C,

    My suggestion ..keep allocation low for now.....

    Saleem

    ReplyDelete
  3. cAugust 2, 2011 at 11:04 AM

    Saleem

    thank you for wisdom--I will hold

    Some times you need a power full ally

    thanks again

    Oh we saw Cowboys and Aliens --way cool

    C

    ReplyDelete
  4. Stocks100August 2, 2011 at 11:06 AM

    Hi C,

    You are most welcome.

    Saleem

    ReplyDelete
  5. MichaelAugust 2, 2011 at 11:27 AM

    Saleem,

    I am still waiting. However, I thought RSI is so low that it is the time to be aggressive? 7 days down in a row may be enough? Anyway 40% cash is ready to move. Thanks.

    Michael

    ReplyDelete
  6. Stocks100August 2, 2011 at 11:32 AM

    Hi Michael,

    Whenever market violates major technical level like 200 DMA...you are better off waiting for basing...

    Friday is jobs report, which may bring new low.....

    BUT..if you still wants to employ some or all funds...its your decision......

    Saleem

    ReplyDelete
  7. MichaelAugust 2, 2011 at 11:39 AM

    Saleem,

    Thanks for your comment. Follow your direction has been excellent so far. I will keep it that way and not too excited with the stocks on sales now.

    Michael

    ReplyDelete
  8. cAugust 2, 2011 at 12:33 PM

    SALLEM

    Look at the sell off

    Yeks

    Best to all

    ReplyDelete
  9. Stocks100August 2, 2011 at 12:35 PM

    Hi C,

    NOT looking good @ all.....

    US debt downgrade leaked out ?

    Saleem

    ReplyDelete