Indices were down around 1.5% on renewed fear about Europe economic issues.
S&P 500 went down to 1140.13..RSI to 40.21
Internals are as follows :
Down Volume leading by 4.95 to 1 in NYSE & 5.39 to 1 in Nasdaq
Declining stocks are leading by 4.55 to 1 in NYSE & 3.09 to 1 in Nasdaq
New 52 wk low are in the lead by 248 in NYSE & 216 in Nasdaq
Internals are negative BUT not as bad as feared..Traders are not afraid of this market, buying on weakness is a good thing ?
VIX UP 12.23% @ 38.07..high of the day was 39.86
Gold UP $2.30..went to $1924 a new all time high....
Oil Down $2.13
Canadian $ Down 6 tick @ 100.93
In my portfolio :
Bought LULU @ $51.50
Doubled my position in BIDU @ $136.50
Portfolio is APKT,BIDU,LULU,NFLX
My $ weighting is :
LULU 18.75%
NFLX 21.27%
APKT 25.98%
BIDU 34.00%
@ 153 folowing are green :
NFLX,LULU,BIDU,AMZN,CMG,AAPL,
VXX,LVS,RIMM,MPEL,IBN,MA,V,
SNDK,SOHU,SOL,ABX....
BLOG does NOT give buy or sell.
Saleem
6 comments:
S
BIDU is $$$$$$$$$$ GOOD!!!!!!!!
My amazon is SO GOOD!!!
DO we take our profits and run??
Thanks
C
Hi C,
NO NO NO..stay put...fun is just starting $$$$$$$$$$$$$$$$$
Saleem
Saleem,
It is good time to add in some good stocks this morning. I added in SNDK at 34 and SOHU at 73.5.
Michael
Hi Michael,
Market has been beaten down over & over....held support today..a very good sign.
Good luck with SOHU & SNDK.
Saleem
Saleem,
Even I bought BIDU and MOS last Friday, both of them are still in the money. They bounced off really well. You doubled down on BIDU at good timing. Thanks for your blog on last Sunday. It gave some insight to the market range that we should play at this time. I may wait till Wed before President's speech to ring register. Anyway, I will monitor for you to signal the turn before I act on anything. I am 85% exposure. Thanks.
Michael
Hi Michael,
Thanks for your feedback re market analysis...First range of support held around 1140 area as per recent history......
I will monitor TAPE closely to analyze strength or weakness & will keep everyone informed.
YES..buying @ right price is smart & works most of the time.
I added 30% APKT late PM......
Saleem
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