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
6 comments:
S
excellent recap of the market
Keep up the great work!!!!
As you know D Gartman says gold is a bubble!??
Ha ha
Smile
C
Hi C,
I am 1000% confident in AUY..no matter what Gartman saying...
Saleem
Steve Jobs resigned as CEO just now--guess I should have waited one more day?
I'm confident in the company's prospects, but I'm sure some cheap shares are about to be unleashed when the stock is unhalted.
Stocktrader
Hi Stocktrader,
AAPL is trading HIGHER than low of Tuesday.....only $20 off.....
Company is well on its way to better things.....
Saleem
Hey Saleem,
One of the reasons I bought the company was the cash hoard. Maybe the new CEO will be more friendly in returning cash to shareholders? Just looking for some silver linings :)
Stocktrader
Hi Stocktrader,
I think Cook will buy many small companies to bolster AAPL future leap &....maybe stock buyback !!!!
Saleem
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