Two trading days after European agreement, technical picture has turned sour again. All indices are below 200 DMA.
S&P 500 closed @ 1253.30, near low of the day.
RSI @ 57.56
Internals of the market were as follows :
Down volume led by 12.11 to 1 in NYSE & 7.88 to 1 in Nasdaq
Declining stocks led by 4.43 to 1 in NYSE & 3.50 to 1 in Nasdaq
VIX Jumped 22.14% @ 29.96.....this is a sharp move UP ?
All inverse ETF were green like SDS,SMN,QID,FAZ
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Monday, October 31, 2011
Indices down .94% to 1.24%, normal pullback after 19% run.....
Indices are down, after a huge run of 19%, this is a normal pattern.
Internals are negative by almost 3 to 1.
S&P 500 went to 1263.40 @ low of the day, IF S&P 500 close above 1274.10 which is 200 DMA, it will be a major victory for bulls. All other indices are above 200 DMA.
Oil Down 69 cents
Gold Down $22.20
Canadian $ Down 31 tick @ 100.50
VIX UP 10.23% @ 27.04, Do not like this jump?
Portfolio is LVS,JCP,POT,RVBD,TLM.....
Most stocks are down
@ 2.03 following are green :
BJRI,BWLD,OTEX,AAPL,SMN,ULTA.....
BLOG does NOT give buy or sell.
Saleem
Internals are negative by almost 3 to 1.
S&P 500 went to 1263.40 @ low of the day, IF S&P 500 close above 1274.10 which is 200 DMA, it will be a major victory for bulls. All other indices are above 200 DMA.
Oil Down 69 cents
Gold Down $22.20
Canadian $ Down 31 tick @ 100.50
VIX UP 10.23% @ 27.04, Do not like this jump?
Portfolio is LVS,JCP,POT,RVBD,TLM.....
Most stocks are down
@ 2.03 following are green :
BJRI,BWLD,OTEX,AAPL,SMN,ULTA.....
BLOG does NOT give buy or sell.
Saleem
Sunday, October 30, 2011
How high are we going in S&P 500 ?
Markets were hostage to FOUR elements all year.
-First, it was Europe debt crisis.
-Second, it was US economy going into recession.
-Third, China going into hard landing.
-Fourth, US politicians unwillingness to deal with urgent economic issues.
Based on the above reality, S&P 500 went from 1370.58 in April 2011 to 1074.77 in 1st week of Oct 2011.....a decline which lasted almost six months.This decline of 295.81 points or 21.58% defines a bear market.
This decline in worldwide markets, where many indices went to two year lows.
BUT...the biggest beneficiary of this decline was an awareness in European leaders to deal with the crippling issue of their debt. They woke up & made a big commitment to nail the debt issue from many angle.
China with its calculated approach was never headed for hard landing, latest data proved even skeptic's to wave white flag.
US grew its GDP @ 2.5%, which put most advocate of recession in a very embarrassing mode. Most of them are known as Economists who are highly paid & very vocal about their "imaginary numbers" ?
BUT, US politicians are now in focus with a deadline looming to get their act together.We all will be subjected AGAIN with TV commentary which will turn off any sane human being.
SO..we are batting 3 out of 4...not bad, from 0 out of 4, a major shift in investing environment.
As markets anticipate good things, we have moved UP from 1074.77 to 1285.09, a move UP of 210.32 or UP 19.57%.......in last four weeks......
NOW the logical question is ?
Where to from here ?
Many technicians are weighing in as listed below :
-We go down Monday & Tuesday
-We are going UP to 1302 & then it is all over.
-We are going UP to 1305 then its over.
-We are going to 1325 max & then its over.
SO .....in analyzing above numbers, it is a pretty good picture in the short term.
SO WHY WORRY, BE HAPPY......
Based on my OWN observation of events, it is safe to see a very positive picture for markets.
In the last 11 years we have not gone anywhere fast, all we have done is gone down to test lows in markets as evidenced by March 09 lows, when S&P 500 was @ 666 vs previous all time high of 1527.46 on March 24th, 2000........a stunning reversal of 861 points or 56.4%.......
Based on how i think S&P 500 will unfold is listed below :
-First target 1325
-Second target 1370
-Then pullback of 2% to 4%
-Third target of 1425
As you can see, that i do expect S&P 500 to make a new all time high in this run.
Whenever there is a new all time high, it makes series of all time highs.
YES, it is a new strong bull market in the making, with its usual normal pullbacks along the way.
History has shown us that laggards, will be the biggest gainers.
Yes we have theories like dog of the dow, which should work..example HPQ.
So get your dog list going, it may outperform AAPL & AMZN ?
Here is my $ allocation as of Friday :
LVS 31.94%
POT 24.32%
JCP 21.95%
RVBD 13.50%
TLM 8.29%
Most of my stocks can be safely called dog based on 52 wk highs.
I do expect most of the dogs to make new 52 wk highs as we move UP in next six months....
Good luck with your OWN analysis & comfort level.
Being a Taurus, i am known to be super OPTIMISTIC & can change on a dime with great ease.They call it ADAPTABILITY ?
BLOG does NOT give buy or sell.
Saleem
-First, it was Europe debt crisis.
-Second, it was US economy going into recession.
-Third, China going into hard landing.
-Fourth, US politicians unwillingness to deal with urgent economic issues.
Based on the above reality, S&P 500 went from 1370.58 in April 2011 to 1074.77 in 1st week of Oct 2011.....a decline which lasted almost six months.This decline of 295.81 points or 21.58% defines a bear market.
This decline in worldwide markets, where many indices went to two year lows.
BUT...the biggest beneficiary of this decline was an awareness in European leaders to deal with the crippling issue of their debt. They woke up & made a big commitment to nail the debt issue from many angle.
China with its calculated approach was never headed for hard landing, latest data proved even skeptic's to wave white flag.
US grew its GDP @ 2.5%, which put most advocate of recession in a very embarrassing mode. Most of them are known as Economists who are highly paid & very vocal about their "imaginary numbers" ?
BUT, US politicians are now in focus with a deadline looming to get their act together.We all will be subjected AGAIN with TV commentary which will turn off any sane human being.
SO..we are batting 3 out of 4...not bad, from 0 out of 4, a major shift in investing environment.
As markets anticipate good things, we have moved UP from 1074.77 to 1285.09, a move UP of 210.32 or UP 19.57%.......in last four weeks......
NOW the logical question is ?
Where to from here ?
Many technicians are weighing in as listed below :
-We go down Monday & Tuesday
-We are going UP to 1302 & then it is all over.
-We are going UP to 1305 then its over.
-We are going to 1325 max & then its over.
SO .....in analyzing above numbers, it is a pretty good picture in the short term.
SO WHY WORRY, BE HAPPY......
Based on my OWN observation of events, it is safe to see a very positive picture for markets.
In the last 11 years we have not gone anywhere fast, all we have done is gone down to test lows in markets as evidenced by March 09 lows, when S&P 500 was @ 666 vs previous all time high of 1527.46 on March 24th, 2000........a stunning reversal of 861 points or 56.4%.......
Based on how i think S&P 500 will unfold is listed below :
-First target 1325
-Second target 1370
-Then pullback of 2% to 4%
-Third target of 1425
As you can see, that i do expect S&P 500 to make a new all time high in this run.
Whenever there is a new all time high, it makes series of all time highs.
YES, it is a new strong bull market in the making, with its usual normal pullbacks along the way.
History has shown us that laggards, will be the biggest gainers.
Yes we have theories like dog of the dow, which should work..example HPQ.
So get your dog list going, it may outperform AAPL & AMZN ?
Here is my $ allocation as of Friday :
LVS 31.94%
POT 24.32%
JCP 21.95%
RVBD 13.50%
TLM 8.29%
Most of my stocks can be safely called dog based on 52 wk highs.
I do expect most of the dogs to make new 52 wk highs as we move UP in next six months....
Good luck with your OWN analysis & comfort level.
Being a Taurus, i am known to be super OPTIMISTIC & can change on a dime with great ease.They call it ADAPTABILITY ?
BLOG does NOT give buy or sell.
Saleem
Friday, October 28, 2011
Constructive close today....NICE !!!!
S&P 500 & Dow closed in green after huge run yesterday, back to back gains are a good thing "technically speaking"
CMF is @ highest level since May 2011 @ 0.330
Internals were mixed, Nasdaq being weaker.
Oil Down 48 cents
Gold Down @ $3.40
Canadian $ Down 3 tick @ 100.79
VIX Down 3.65% @ 24.53..extremely positive development today, good sign for equity.
In my portfolio :
Bought POT @ $50.60
Portfolio is LVS,JCP,POT,RVBD,TLM......
Most stocks were UP
Following stocks were Down :
JCP,POT,MGA,MS,GS,NTES,QCOM,BWLD,TCK,
ARUN,M,ULTA,CTRP,PWRD,CCJ,KGC,CMG,FWLT...
Next post by 2 pm Sunday
Blog does not give buy or sell.
Saleem
CMF is @ highest level since May 2011 @ 0.330
Internals were mixed, Nasdaq being weaker.
Oil Down 48 cents
Gold Down @ $3.40
Canadian $ Down 3 tick @ 100.79
VIX Down 3.65% @ 24.53..extremely positive development today, good sign for equity.
In my portfolio :
Bought POT @ $50.60
Portfolio is LVS,JCP,POT,RVBD,TLM......
Most stocks were UP
Following stocks were Down :
JCP,POT,MGA,MS,GS,NTES,QCOM,BWLD,TCK,
ARUN,M,ULTA,CTRP,PWRD,CCJ,KGC,CMG,FWLT...
Next post by 2 pm Sunday
Blog does not give buy or sell.
Saleem
Thursday, October 27, 2011
Indices celebrated European fix, UP 2.86% to 3.43%....NICE !!!!
Indices went into overdrive with massive short covering due to
positive news out of Europe.
Markets have been hostage for last six months,
fixated on European debt day after day.....
S&P 500 closed @ well above 200 DMA in high volume, which is a good technical indicator, RSI @ 65.12
Reaction in worldwide markets was jubilant.
Stocks may have to build another base for few weeks after
huge run today, 8% to 16% run in one day is not a norm.
Pundits are too giddy now which needs to be tempered, euphoria
is too high now which is a contrary indicator in short term.
I may be locking profits & trade frequently......
Internals of the market were as follows :
UP volume led by 19.23 to 1 in NYSE & 7.31 to 1 in Nasdaq
Advancing stocks led by 7.51 to 1 in NYSE & 5.16 to 1 in Nasdaq
New 52 wk highs expanded to 161 in NYSE & 107 in Nasdaq
VIX Down 14.74% @ 25.46...this was NOT down enough ?
Oil closed @ $93.96
Gold closed @ $1747.70
AH ER were greeted as follows :
CLF UP 8.40%
BIDU UP 7.49%
LVS UP 3.96%
AH Futures Down
AH Asian Markets UP
AH Oil, Gold Canadian $ Down
BLOG does NOT give buy or sell.
Saleem
positive news out of Europe.
Markets have been hostage for last six months,
fixated on European debt day after day.....
S&P 500 closed @ well above 200 DMA in high volume, which is a good technical indicator, RSI @ 65.12
Reaction in worldwide markets was jubilant.
Stocks may have to build another base for few weeks after
huge run today, 8% to 16% run in one day is not a norm.
Pundits are too giddy now which needs to be tempered, euphoria
is too high now which is a contrary indicator in short term.
I may be locking profits & trade frequently......
Internals of the market were as follows :
UP volume led by 19.23 to 1 in NYSE & 7.31 to 1 in Nasdaq
Advancing stocks led by 7.51 to 1 in NYSE & 5.16 to 1 in Nasdaq
New 52 wk highs expanded to 161 in NYSE & 107 in Nasdaq
VIX Down 14.74% @ 25.46...this was NOT down enough ?
Oil closed @ $93.96
Gold closed @ $1747.70
AH ER were greeted as follows :
CLF UP 8.40%
BIDU UP 7.49%
LVS UP 3.96%
AH Futures Down
AH Asian Markets UP
AH Oil, Gold Canadian $ Down
BLOG does NOT give buy or sell.
Saleem
Next post around 11 PM tonight....
Have to visit a close friend who is in hospital......
Hoping to post tonight IF i am back in time.
Enjoy the big move UP.....it IS a game changer.
Europe has been a major drag on the markets, now its lifted.
Think long term strategy.
I may add something on Friday.
Saleem
Hoping to post tonight IF i am back in time.
Enjoy the big move UP.....it IS a game changer.
Europe has been a major drag on the markets, now its lifted.
Think long term strategy.
I may add something on Friday.
Saleem
Wednesday, October 26, 2011
Indices closed green...NICE !!!!
Indices ignored so-called experts who were in "overdrive mode" on CNBC, in telling everyone that Europeans cannot get this done.....This issue was beyond Michelle Caruso Cabrera paygrade?
S&P 500 closed @ 1242.00..next target 1256.55...next 200 DMA 1274.25 +++++
CMF @ +0.232 highest level since July 2011
Well, we have news that three important agreement is in place as listed below :
-Quadrupling of bailout funds
-50% haircut on Greek Bonds
-Banks to increase their capital by june 2012
I am sure Europeans are showing, what "leadership skills" are all about.....
Spend "no time on TV" ..spend all the time in "resolving major challenges" behind closed doors. It took few hours & quick endorsement from German Parliament..all on Wednesday......
Based on this momentous resolution, futures are as follows :
Dow UP 103
S&P 500 13
Nasdaq 21
AH Asian Markets UP
AH Oil, Gold, Silver UP
AH Canadian $ UP 46 tick, @ 99.99 US$
AH ER were greeted as follows :
V Down 2.21%
TQNT Down 16.88%
OTEX UP 5.21%
AKAM UP 12.70%
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1242.00..next target 1256.55...next 200 DMA 1274.25 +++++
CMF @ +0.232 highest level since July 2011
Well, we have news that three important agreement is in place as listed below :
-Quadrupling of bailout funds
-50% haircut on Greek Bonds
-Banks to increase their capital by june 2012
I am sure Europeans are showing, what "leadership skills" are all about.....
Spend "no time on TV" ..spend all the time in "resolving major challenges" behind closed doors. It took few hours & quick endorsement from German Parliament..all on Wednesday......
Based on this momentous resolution, futures are as follows :
Dow UP 103
S&P 500 13
Nasdaq 21
AH Asian Markets UP
AH Oil, Gold, Silver UP
AH Canadian $ UP 46 tick, @ 99.99 US$
AH ER were greeted as follows :
V Down 2.21%
TQNT Down 16.88%
OTEX UP 5.21%
AKAM UP 12.70%
BLOG does NOT give buy or sell.
Saleem
Indices on the move AGAIN....NICE !!!!
Indices are ignoring, negative headlines in media about European issues.
Too many experts who love to talk, but do not know what they are talking about..a CNBC specialty.
S&P 500 went to 1221.06, to find support & moved UP
Internals are positive by 2 to 1
Oil Down $1.69
Gold UP $23.40
Canadian $ UP 91 tick @ 99.30
VIX Down 4.47% @ 30.78
In my portfolio :
Bought RVBD @ $26.60
Bought TLM @ $13.88
Portfolio is JCP,LVS,RVBD,TLM
Most stocks are UP
@ 2.08 following are down :
AMZN,PCLN,SINA,RIMM,AUY,CMG,APKT,
NTES,QCOM,BWLD,CRM,C,AEM,NDAQ,NYX,
VAR,IBN....
BLOG does NOT give buy or sell.
Saleem
Too many experts who love to talk, but do not know what they are talking about..a CNBC specialty.
S&P 500 went to 1221.06, to find support & moved UP
Internals are positive by 2 to 1
Oil Down $1.69
Gold UP $23.40
Canadian $ UP 91 tick @ 99.30
VIX Down 4.47% @ 30.78
In my portfolio :
Bought RVBD @ $26.60
Bought TLM @ $13.88
Portfolio is JCP,LVS,RVBD,TLM
Most stocks are UP
@ 2.08 following are down :
AMZN,PCLN,SINA,RIMM,AUY,CMG,APKT,
NTES,QCOM,BWLD,CRM,C,AEM,NDAQ,NYX,
VAR,IBN....
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 25, 2011
Indices closed down 1.74% to 2.26%......
Indices were in retreat thanks to overbought conditions.
S&P 500 closed @ 1229.05, near its support area of 1225.
RSI retreated to 56.58
Internals of the market were as follows :
Down volume led by 10.62 to 1 in NYSE & 5.85 to 1 in Nasdaq
Declining stocks led by 4.81 to 1 in NYSE & 4.09 to 1 in Nasdaq
New 52 wk high were 32 in NYSE & 24 in Nasdaq
VIX UP 10.12% @ 32.22
Oil Closed @ $93.17
Gold closed @ $1700.40
IF we analyze today's TAPE, it gives a clear message that Oil & Gold is predicting European resolution.....
CNBC does not promote constructive or positive analysis of any event, always negatively biased commentary.
I expect European leaders to move decidedly towards dealing with a very messy situation.
IF this happens, we may have another move HIGHER above S&P 500 200 DMA.....
In my portfolio :
Bought JCP @ $33.30
Bought LVS @ $42.30
Exposure 29%
AH ER were greeted as follows :
PNRA UP 10.25%
FFIV UP 7.99%
BRCM Down 5.31%
AMZN Down 12.41%....AH range was $184.59 to $237.74 in heavy volume of 5 million shares.
AH Futures Mixed
AH Asian Markets Mixed
AH Gold UP
AH Oil Down
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1229.05, near its support area of 1225.
RSI retreated to 56.58
Internals of the market were as follows :
Down volume led by 10.62 to 1 in NYSE & 5.85 to 1 in Nasdaq
Declining stocks led by 4.81 to 1 in NYSE & 4.09 to 1 in Nasdaq
New 52 wk high were 32 in NYSE & 24 in Nasdaq
VIX UP 10.12% @ 32.22
Oil Closed @ $93.17
Gold closed @ $1700.40
IF we analyze today's TAPE, it gives a clear message that Oil & Gold is predicting European resolution.....
CNBC does not promote constructive or positive analysis of any event, always negatively biased commentary.
I expect European leaders to move decidedly towards dealing with a very messy situation.
IF this happens, we may have another move HIGHER above S&P 500 200 DMA.....
In my portfolio :
Bought JCP @ $33.30
Bought LVS @ $42.30
Exposure 29%
AH ER were greeted as follows :
PNRA UP 10.25%
FFIV UP 7.99%
BRCM Down 5.31%
AMZN Down 12.41%....AH range was $184.59 to $237.74 in heavy volume of 5 million shares.
AH Futures Mixed
AH Asian Markets Mixed
AH Gold UP
AH Oil Down
BLOG does NOT give buy or sell.
Saleem
Indices down 1.21 to 1.80% on European meeting......
Indices are down in anticipation of EU meeting.
Economic indicators were weak today in US.
S&P 500 low today is 1233.02, pretty close to 1225 support area.
Internals are negative 3 to 1.....
RSI @ 58.50
Oil UP $2.21
Gold UP $47.50
Canadian $ Down 98 tick @ 98.64 on reduced projection of GDP growth of 2.2% for 2011.
VIX UP 5.67% @ 30.92
In my portfolio :
Covered all my short position......
0 exposure so far
Most stocks are Down
@ 2.33 following are green :
SMN,QID,AUY,GG,SLW,BWLD,
CCJ,ABX,AEM,KGC.....
BLOG does NOT give buy or sell.
Saleem
Economic indicators were weak today in US.
S&P 500 low today is 1233.02, pretty close to 1225 support area.
Internals are negative 3 to 1.....
RSI @ 58.50
Oil UP $2.21
Gold UP $47.50
Canadian $ Down 98 tick @ 98.64 on reduced projection of GDP growth of 2.2% for 2011.
VIX UP 5.67% @ 30.92
In my portfolio :
Covered all my short position......
0 exposure so far
Most stocks are Down
@ 2.33 following are green :
SMN,QID,AUY,GG,SLW,BWLD,
CCJ,ABX,AEM,KGC.....
BLOG does NOT give buy or sell.
Saleem
Monday, October 24, 2011
Indices closed UP .89% to 2.35%......NICE !!!!!
Indices celebrated Chinese data with enthusiasm. China was NEVER @ risk for "hard landing" but HFT decided that today was the day to announce that.
Indices were UP nicely & gave many traders another chance to lock unusually high profit.
Market was in a euphoric mood today.
S&P 500 has gone UP 16.69% in an extremely short period of time, a rare occurrence in Wall & Broad.......
RSI closed @ 62.67
Internals were as follows :
UP volume led by 6.93 to 1 in NYSE & 15.73 to 1 in Nasdaq
Advancing stocks led by 4.88 to 1 in NYSE & 4.36 to 1 in Nasdaq
New 52 wk highs were in the lead, 76 in NYSE & 57 in Nasdaq
VIX down 6.58% @ 29.26
Oil Closed @ $91.27
Gold Closed @ $1652.30
AH ER were greeted as follows :
NFLX Down 27.58%
TXN Down 1.55%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
Indices were UP nicely & gave many traders another chance to lock unusually high profit.
Market was in a euphoric mood today.
S&P 500 has gone UP 16.69% in an extremely short period of time, a rare occurrence in Wall & Broad.......
RSI closed @ 62.67
Internals were as follows :
UP volume led by 6.93 to 1 in NYSE & 15.73 to 1 in Nasdaq
Advancing stocks led by 4.88 to 1 in NYSE & 4.36 to 1 in Nasdaq
New 52 wk highs were in the lead, 76 in NYSE & 57 in Nasdaq
VIX down 6.58% @ 29.26
Oil Closed @ $91.27
Gold Closed @ $1652.30
AH ER were greeted as follows :
NFLX Down 27.58%
TXN Down 1.55%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
Indices UP .96% to 2.41% ....NICE !!!!
Indices are UP on news of Europe resolve in solving debt issues......
S&P 500 went to 1256.39 so far......
Internals are positive by a strong 5 to 1.....
RSI is 62.99
Oil UP $4.22
Gold UP $14.90
Canadian $ UP 33 tick @ 99.64
VIX Down 6.8% @ 29.19
In my portfolio :
Sold TLM
Short CLF @ $62.69
Short ULTA @ $69.70
Short JCP @ $34.23
I have allocated 38% exposure to my short, first time i am trying short......
Here is how i have weighted my short position :
ULTA 41.13%
CLF 41.09%
JCP 17.78%
As you can see only JCP is positive for me.......
I may close short position based on how i am interpreting this market.....could be Tuesday could be longer.....
Most stocks are UP
BLOG does NOT give buy or sell.
Saleem
S&P 500 went to 1256.39 so far......
Internals are positive by a strong 5 to 1.....
RSI is 62.99
Oil UP $4.22
Gold UP $14.90
Canadian $ UP 33 tick @ 99.64
VIX Down 6.8% @ 29.19
In my portfolio :
Sold TLM
Short CLF @ $62.69
Short ULTA @ $69.70
Short JCP @ $34.23
I have allocated 38% exposure to my short, first time i am trying short......
Here is how i have weighted my short position :
ULTA 41.13%
CLF 41.09%
JCP 17.78%
As you can see only JCP is positive for me.......
I may close short position based on how i am interpreting this market.....could be Tuesday could be longer.....
Most stocks are UP
BLOG does NOT give buy or sell.
Saleem
Sunday, October 23, 2011
S&P 500 UP 15.21% in this run so far, what next ?
S&P 500 has been running UP on optimism about European resolution of debts & good earnings reports.
So far we are UP 15.21% in last 13 trading days.
S&P 500 closed @ 1238.25.
RSI @ 60.14
The question is how far we can go, with more good news coming from Europe.
Europe has just about sorted out how to resolve all debt related issues as listed below :
-Europe is expected to shore UP banks capital requirement by 2012.Much earlier than previous expectations of 2014.
-Greek bonds are expected to devalue by 60%...
The above two major resolutions to be passed on Wednesday, should trigger a further rally in markets.
The way i see it, we could easily go towards 1274.70 area which is 200 DMA....
Then i expect pullback & consolidation above 1225....1225 used to be resistance, now it could be support......
Bottom line is, that we may have another 36.45 points or 2.94% before we head south.
You can daytrade or you can book profit or you can sit tight for about a month & get in after testing of support.
I happen to be in the last camp.
Market is extremely unpredictable these days, focus should be on locking gains & NOT get EUPHORIC near TOP......
Good luck with your OWN analysis.
BLOG does NOT give buy or sell.
Saleem
So far we are UP 15.21% in last 13 trading days.
S&P 500 closed @ 1238.25.
RSI @ 60.14
The question is how far we can go, with more good news coming from Europe.
Europe has just about sorted out how to resolve all debt related issues as listed below :
-Europe is expected to shore UP banks capital requirement by 2012.Much earlier than previous expectations of 2014.
-Greek bonds are expected to devalue by 60%...
The above two major resolutions to be passed on Wednesday, should trigger a further rally in markets.
The way i see it, we could easily go towards 1274.70 area which is 200 DMA....
Then i expect pullback & consolidation above 1225....1225 used to be resistance, now it could be support......
Bottom line is, that we may have another 36.45 points or 2.94% before we head south.
You can daytrade or you can book profit or you can sit tight for about a month & get in after testing of support.
I happen to be in the last camp.
Market is extremely unpredictable these days, focus should be on locking gains & NOT get EUPHORIC near TOP......
Good luck with your OWN analysis.
BLOG does NOT give buy or sell.
Saleem
Friday, October 21, 2011
Indices UP .68% to 1.44%.....NICE !!!!!
Indices were UP from Open, reached its high around noon.
Most stocks took off right @ open.
As today is Option Expiry for Weekly & Monthly, a fade was expected.
European leaders are meeting on weekend to sort out strategy by Germany & France.
S&P 500 went to 1239.03, its highest point in a while, technically a very good show of strength. Higher HIGHS are a good thing.
As this market is extremely unpredictable, it is wise to have a "FAST trader mentality" or else daydreaming will evaporate your profit in a hurry......
Internals are positive by 2 to 1....
After a long time new 52 wk HIGHS are in the lead @ NYSE & Nasdaq
Oil UP $1.35
Gold UP $40.10
Canadian $ UP 56 tick @ 98.96
In my Portfolio :
Sold CNQ
Sold LULU
Sold MS
Sold JCP
Portfolio is TLM...7% exposure
Most stocks are UP
@ 1.45 following are Red :
JKS,TSL,CSIQ,BIDU,AAPL,AMZN,WYNN,LVS,
LULU,RVBD,APKT,VMW,QCOM,CRM,FNSR,
C,BAC,GE,CTRP,SINA,SOHU,LDK,SOL,NYX,
NDAQ,....
BLOG does NOT give buy or sell.
Next post on Sunday by 2 PM.
Saleem
Most stocks took off right @ open.
As today is Option Expiry for Weekly & Monthly, a fade was expected.
European leaders are meeting on weekend to sort out strategy by Germany & France.
S&P 500 went to 1239.03, its highest point in a while, technically a very good show of strength. Higher HIGHS are a good thing.
As this market is extremely unpredictable, it is wise to have a "FAST trader mentality" or else daydreaming will evaporate your profit in a hurry......
Internals are positive by 2 to 1....
After a long time new 52 wk HIGHS are in the lead @ NYSE & Nasdaq
Oil UP $1.35
Gold UP $40.10
Canadian $ UP 56 tick @ 98.96
In my Portfolio :
Sold CNQ
Sold LULU
Sold MS
Sold JCP
Portfolio is TLM...7% exposure
Most stocks are UP
@ 1.45 following are Red :
JKS,TSL,CSIQ,BIDU,AAPL,AMZN,WYNN,LVS,
LULU,RVBD,APKT,VMW,QCOM,CRM,FNSR,
C,BAC,GE,CTRP,SINA,SOHU,LDK,SOL,NYX,
NDAQ,....
BLOG does NOT give buy or sell.
Next post on Sunday by 2 PM.
Saleem
Thursday, October 20, 2011
Constructive close today....NICE !!!!
There was negative news out of Europe, EU meeting was postponed till Wednesday from this Sunday.
Market handled postponement news in stride and actually closed higher in Dow & S&P 500.
Today's TAPE is telling us, that resolution of European mess is @ hand.
Nasdaq almost made it into green, but missed it by .21%, this is a major victory for bulls.
Internals were mixed.
Oil closed @ $85.30
Gold closed @ $1612.90
VIX closed @ 34.78
Stocks which closed UP 1% or more included JCP,
TSL,CSIQ,CLF,FCX,MOS,TCK,POT,VMW,RVBD,
APKT,BWLD,AGU,V,CIEN,FNSR,C,BAC.....
In my portfolio :
Bought TLM @ $13.53
Portfolio is CNQ,LULU,MS,JCP,TLM...
AH ER were greeted as follows :
SNDK UP 2.18%
CMG UP 3.56%
MSFT Down .52%
AH Futures UP
AH Asian Markets UP
AH Gold & Oil UP
BLOG does NOT give buy or sell.
Saleem
Market handled postponement news in stride and actually closed higher in Dow & S&P 500.
Today's TAPE is telling us, that resolution of European mess is @ hand.
Nasdaq almost made it into green, but missed it by .21%, this is a major victory for bulls.
Internals were mixed.
Oil closed @ $85.30
Gold closed @ $1612.90
VIX closed @ 34.78
Stocks which closed UP 1% or more included JCP,
TSL,CSIQ,CLF,FCX,MOS,TCK,POT,VMW,RVBD,
APKT,BWLD,AGU,V,CIEN,FNSR,C,BAC.....
In my portfolio :
Bought TLM @ $13.53
Portfolio is CNQ,LULU,MS,JCP,TLM...
AH ER were greeted as follows :
SNDK UP 2.18%
CMG UP 3.56%
MSFT Down .52%
AH Futures UP
AH Asian Markets UP
AH Gold & Oil UP
BLOG does NOT give buy or sell.
Saleem
Indices Mixed Again...Nasdaq lower......
Indices are trying to move higher, from negative push earlier.
S&P 500 went down to 1197.34, which is a HIGHER LOW than Tuesday's low, positive technical strength.
Internals are negative by 50%
Gold Down by $36.70 @ $1609.30
Oil Down 96 cents @ $85.15
Canadian $ UP 13 tick @ 98.21
VIX UP 2.26% @ 35.22
In my portfolio :
Sold RIMM
Bought CNQ @ $31.30
Portfolio is CNQ,LULU,MS,JCP
Here is my $ weighting :
LULU 36.17%
CNQ 23.07%
JCP 22.26%
MS 18.50%
Most stocks are down
@ 2.15 following are green :
JCP,TSL,CLF,MOS,POT,SNDK,AMZN,VMW,
RVBD,BWLD,GOOG,AGU,MA,V,APKT,CIEN
C.....
BLOG does NOT give buy or sell.
PS...Last night my Internet was down, thus was unable to post.
Saleem
S&P 500 went down to 1197.34, which is a HIGHER LOW than Tuesday's low, positive technical strength.
Internals are negative by 50%
Gold Down by $36.70 @ $1609.30
Oil Down 96 cents @ $85.15
Canadian $ UP 13 tick @ 98.21
VIX UP 2.26% @ 35.22
In my portfolio :
Sold RIMM
Bought CNQ @ $31.30
Portfolio is CNQ,LULU,MS,JCP
Here is my $ weighting :
LULU 36.17%
CNQ 23.07%
JCP 22.26%
MS 18.50%
Most stocks are down
@ 2.15 following are green :
JCP,TSL,CLF,MOS,POT,SNDK,AMZN,VMW,
RVBD,BWLD,GOOG,AGU,MA,V,APKT,CIEN
C.....
BLOG does NOT give buy or sell.
PS...Last night my Internet was down, thus was unable to post.
Saleem
Wednesday, October 19, 2011
Indices Mixed.....
Indices are mixed with Dow green by .15% & Nasdaq down .99%....
Internals are mixed...
Today's TAPE is strange as All European markets closed green, i guess Europe is NOT scared of European issues BUT US daytraders are ?
Gold UP $2.70
Oil UP 24 cents
Canadian $ UP 36 tick @ 98.85
VIX UP 6.24% @ 33.53
In my portfolio :
Doubled my position in LULU @ $51.48
Portfolio is LULU,MS,JCP,RIMM
$ Weighting of my portfolio is :
RIMM 43.31%
LULU 26.64%
JCP 16.41%
MS 13.64%
Exposure 70%......
Most stocks are down
@ 1.44 following are Green :
MS,JCP,CSIQ,CNQ,SINA,ULTA,NTES,CRM,
C,SOHU,VAR......
BLOG does NOT give buy or sell.
Saleem
Internals are mixed...
Today's TAPE is strange as All European markets closed green, i guess Europe is NOT scared of European issues BUT US daytraders are ?
Gold UP $2.70
Oil UP 24 cents
Canadian $ UP 36 tick @ 98.85
VIX UP 6.24% @ 33.53
In my portfolio :
Doubled my position in LULU @ $51.48
Portfolio is LULU,MS,JCP,RIMM
$ Weighting of my portfolio is :
RIMM 43.31%
LULU 26.64%
JCP 16.41%
MS 13.64%
Exposure 70%......
Most stocks are down
@ 1.44 following are Green :
MS,JCP,CSIQ,CNQ,SINA,ULTA,NTES,CRM,
C,SOHU,VAR......
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 18, 2011
Indices closed UP 1.58% to 2.04% in higher volume...NICE !!!!
Indices did a U turn around 10.30 AM & never looked back.
All Indices closed UP with volume higher than yesterday.
Internals of the market were as follows :
UP volume led by 12.93 to 1 in NYSE & 6.46 to 1 in Nasdaq
Advancing stocks led by 5.23 to 1 in NYSE & 3.23 to 1 in Nasdaq
VIX closed Down 5.48% @ 31.56
Oil closed @ $88.34
Gold closed @ $1652.80
Stocks which closed UP 3% or more included RIMM,MS,JCP,
JKS,TSL,TLM,CNQ,TCK,GS,VMW,BAC,C,SU,M,JDSU,
CIEN,KOG......
AH ER were greeted as follows :
JNPR Down .14%
YHOO UP 2.59%
INTC UP 4.32%
AAPL Down 6.70%
AAPL ER was a major downer, it was a big miss in Sales & EPS......
Sales actual $28.27 Billion...consensus $29.69 Billion..... a miss of $1.42 Billion
EPS actual $7.05...consensus $7.39...a miss by 34 cents
iPhone Sales actual 17.1 million...consensus 19 to 20 million...a miss of 2.40 million units from mid-point.....
In investing, one has to stay OBJECTIVE not EMOTIONAL..it is all about results & making money....a BIG MISS is a BIG MISS.......
AAPL is guiding HIGHER than consensus
AH Futures Down
AH Asian Markets UP
AH Gold UP
AH Oil Down
BLOG does NOT give buy or sell.
Saleem
All Indices closed UP with volume higher than yesterday.
Internals of the market were as follows :
UP volume led by 12.93 to 1 in NYSE & 6.46 to 1 in Nasdaq
Advancing stocks led by 5.23 to 1 in NYSE & 3.23 to 1 in Nasdaq
VIX closed Down 5.48% @ 31.56
Oil closed @ $88.34
Gold closed @ $1652.80
Stocks which closed UP 3% or more included RIMM,MS,JCP,
JKS,TSL,TLM,CNQ,TCK,GS,VMW,BAC,C,SU,M,JDSU,
CIEN,KOG......
AH ER were greeted as follows :
JNPR Down .14%
YHOO UP 2.59%
INTC UP 4.32%
AAPL Down 6.70%
AAPL ER was a major downer, it was a big miss in Sales & EPS......
Sales actual $28.27 Billion...consensus $29.69 Billion..... a miss of $1.42 Billion
EPS actual $7.05...consensus $7.39...a miss by 34 cents
iPhone Sales actual 17.1 million...consensus 19 to 20 million...a miss of 2.40 million units from mid-point.....
In investing, one has to stay OBJECTIVE not EMOTIONAL..it is all about results & making money....a BIG MISS is a BIG MISS.......
AAPL is guiding HIGHER than consensus
AH Futures Down
AH Asian Markets UP
AH Gold UP
AH Oil Down
BLOG does NOT give buy or sell.
Saleem
Indices UP .72% to 1.14%.....NICE !!!!
Indices are UP, after reacting negatively to Chinese GDP data of 9.1% growth....
Can you imagine when 9.1% GDP growth is taken as negative, only on Wall Street.....?
S&P 500 went to 1191.48 which was a decline of 33.13 points or down 2.7% from its high of 1224.61.....currently @ 1214.14
Internals are positive from 2 to 1 to 4 to 1......
Oil UP $1.95
Gold Down $32.90
Canadian $ UP 75 tick @ 98.45
VIX Down 5.06% @ 31.70
Portfolio is JCP,MS,LULU,RIMM
Most stocks are UP
@ 1.15 following are Down :
LULU,CSIQ,FCX,MOS,POT,PCLN,BIDU,
SINA,AUY,GG,SLW,AAPL,AMZN,CMG,
NTES,MPEL,BWLD,ARUN,CTRP,FMCN,
SOHU,SOL,LDK,ABX,AEM,NDAQ,LVS...
BLOG does NOT give buy or sell.
Saleem
Can you imagine when 9.1% GDP growth is taken as negative, only on Wall Street.....?
S&P 500 went to 1191.48 which was a decline of 33.13 points or down 2.7% from its high of 1224.61.....currently @ 1214.14
Internals are positive from 2 to 1 to 4 to 1......
Oil UP $1.95
Gold Down $32.90
Canadian $ UP 75 tick @ 98.45
VIX Down 5.06% @ 31.70
Portfolio is JCP,MS,LULU,RIMM
Most stocks are UP
@ 1.15 following are Down :
LULU,CSIQ,FCX,MOS,POT,PCLN,BIDU,
SINA,AUY,GG,SLW,AAPL,AMZN,CMG,
NTES,MPEL,BWLD,ARUN,CTRP,FMCN,
SOHU,SOL,LDK,ABX,AEM,NDAQ,LVS...
BLOG does NOT give buy or sell.
Saleem
Monday, October 17, 2011
Indices slumped 1.94% to 2.13% in rangebound trading.....
Indices were looking vulnerable after hitting its upper range.
Germany gave an excuse for resistance to come in-play.
We closed near lows of the day on heavier volume than Friday ?
Internals of the market were as follows :
Down volume led by 9.40 to 1 in NYSE & 7.84 to 1 in Nasdaq
Declining stocks led by 4.29 to 1 in NYSE & 4.27 to 1 in Nasdaq
VIX closed UP 18.24% @ 33.39
Oil closed @ $86.38
Gold closed @ $1676.60
AH ER were as follows :
VMW Down 1.81%
IBM Down 3.99%
CROX Down 35.25%
SFSF UP 7.28%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Germany gave an excuse for resistance to come in-play.
We closed near lows of the day on heavier volume than Friday ?
Internals of the market were as follows :
Down volume led by 9.40 to 1 in NYSE & 7.84 to 1 in Nasdaq
Declining stocks led by 4.29 to 1 in NYSE & 4.27 to 1 in Nasdaq
VIX closed UP 18.24% @ 33.39
Oil closed @ $86.38
Gold closed @ $1676.60
AH ER were as follows :
VMW Down 1.81%
IBM Down 3.99%
CROX Down 35.25%
SFSF UP 7.28%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Indices Down 1.76% to 1.95% on German news ?
Indices are down on German statement that nothing will be finalized anytime soon.
European debt issues has many linkages which needs to be factored @ every step.
Markets pullback is healthy as we had a "jubilant runup"......
Internals are negative by 3 to 1...
Gold Down $13.20..before gold used to move UP on any uncertainty ?
Oil Down 36 cents
Canadian $ Down 65 tick @ 98.34
VIX UP 14.31% @ 32.28
Portfolio is JCP,MS,LULU,RIMM...
Most stocks are down
@ 1.44 following are UP :
JCP,MS,WYNN,NTES,MPEL.....
BLOG does NOT give buy or sell.
Saleem
European debt issues has many linkages which needs to be factored @ every step.
Markets pullback is healthy as we had a "jubilant runup"......
Internals are negative by 3 to 1...
Gold Down $13.20..before gold used to move UP on any uncertainty ?
Oil Down 36 cents
Canadian $ Down 65 tick @ 98.34
VIX UP 14.31% @ 32.28
Portfolio is JCP,MS,LULU,RIMM...
Most stocks are down
@ 1.44 following are UP :
JCP,MS,WYNN,NTES,MPEL.....
BLOG does NOT give buy or sell.
Saleem
Sunday, October 16, 2011
S&P 500 has moved UP 13.94% in 8 trading days, what next ?
Only 8 trading days ago, we were @ 1074.77 in S&P 500......gloom was thick & every pundit had 10 reasons why we are going to take 666 lows......
Here we are 8 trading days later & we are UP 149.81 points or 13.94%.....
BUT, now everyone expects this market to keep going UP...all the worries about US economy & Europe is all but forgotten......
I am sure everyone is very happy about their gains in this run.....BUT, as they say you only have profit after you have sold.......
It is important, to keep an eye on technicals when we are going UP also....currently RSI is @ 59.95 this MAY have more room to go UP BUT 65+ area is "danger zone"
S&P 500 MAY also go UP to 1258 as first resistance which is another gain of 33.42 points or 2.73%....second major resistance is 1276, which is another 51.42 points or 4.2%.......
I hope you have a strategy in place to lock these "incredible gains".......
I am much more OPTIMISTIC when gains are slow & orderly...BUT this RUNUP is extremely fast which IS making me NERVOUS.....
As you have seen, that i reduced my exposure by more than half on Friday. I still have 62% exposure which will be reduced further IF we have gains on Monday to Wednesday.........
My portfolio is mostly defensive & is in beaten down / & out stocks...this gives me higher comfort level.
Here is my $ weighting :
RIMM 49.75%
JCP 18.70%
MS 15.79%
LULU 15.76%
RIMM has its developers meeting starting on Tuesday, there is expectations that RIMM will give a "sneak preview" of its QNX based phones. Also they will announce changes to their
playbook like capability of email.......hopefully stock price of RIMM will show some upward trajectory this week.
AAPL reports on Tuesday, i am expecting "higher than consensus guidance" iPhone 4S sales are getting a huge lift based on emotions about Steve Jobs departure.
Earnings are expected to be better than consensus in coming weeks, BUT we have gone too far in a hurry which MAY temper upward move.
This is also an Option Expiry week for monthly / weekly.....which brings more uncertainty from Wed forward.....
Good luck with your OWN strategy & comfort level.
BLOG does NOT give buy or sell.
Saleem
Here we are 8 trading days later & we are UP 149.81 points or 13.94%.....
BUT, now everyone expects this market to keep going UP...all the worries about US economy & Europe is all but forgotten......
I am sure everyone is very happy about their gains in this run.....BUT, as they say you only have profit after you have sold.......
It is important, to keep an eye on technicals when we are going UP also....currently RSI is @ 59.95 this MAY have more room to go UP BUT 65+ area is "danger zone"
S&P 500 MAY also go UP to 1258 as first resistance which is another gain of 33.42 points or 2.73%....second major resistance is 1276, which is another 51.42 points or 4.2%.......
I hope you have a strategy in place to lock these "incredible gains".......
I am much more OPTIMISTIC when gains are slow & orderly...BUT this RUNUP is extremely fast which IS making me NERVOUS.....
As you have seen, that i reduced my exposure by more than half on Friday. I still have 62% exposure which will be reduced further IF we have gains on Monday to Wednesday.........
My portfolio is mostly defensive & is in beaten down / & out stocks...this gives me higher comfort level.
Here is my $ weighting :
RIMM 49.75%
JCP 18.70%
MS 15.79%
LULU 15.76%
RIMM has its developers meeting starting on Tuesday, there is expectations that RIMM will give a "sneak preview" of its QNX based phones. Also they will announce changes to their
playbook like capability of email.......hopefully stock price of RIMM will show some upward trajectory this week.
AAPL reports on Tuesday, i am expecting "higher than consensus guidance" iPhone 4S sales are getting a huge lift based on emotions about Steve Jobs departure.
Earnings are expected to be better than consensus in coming weeks, BUT we have gone too far in a hurry which MAY temper upward move.
This is also an Option Expiry week for monthly / weekly.....which brings more uncertainty from Wed forward.....
Good luck with your OWN strategy & comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, October 14, 2011
Indices closed UP 1.45% to 1.82%.....NICE !!!!!
Indices closed near high of the day.....
S&P 500 closed @ 1224.58, above much dreaded 1220.....
S&P 500 closed 6% higher for the week...
Oil UP $3.07
Gold UP $13.40
Canadian $ UP 1.04 cents @ 98.99
VIX tumbled 8.01% @ 28.24..first close below 30 in a long time....
In my portfolio :
Sold CSIQ
Sold CNQ
Sold FCX
Sold MOS
Bought JCP @ $30.21
Bought MS @ $15.02
Portfolio is JCP,MS,LULU,RIMM
I am @ 62% exposure from 130%
Wanted to book profit today......
Most stocks were UP
Following stocks were Down :
JKS,TSL,NFLX,BWLD,BAC,SNE.....
BLOG does NOT give buy or sell.
Next post by 2 PM Sunday.
Saleem
S&P 500 closed @ 1224.58, above much dreaded 1220.....
S&P 500 closed 6% higher for the week...
Oil UP $3.07
Gold UP $13.40
Canadian $ UP 1.04 cents @ 98.99
VIX tumbled 8.01% @ 28.24..first close below 30 in a long time....
In my portfolio :
Sold CSIQ
Sold CNQ
Sold FCX
Sold MOS
Bought JCP @ $30.21
Bought MS @ $15.02
Portfolio is JCP,MS,LULU,RIMM
I am @ 62% exposure from 130%
Wanted to book profit today......
Most stocks were UP
Following stocks were Down :
JKS,TSL,NFLX,BWLD,BAC,SNE.....
BLOG does NOT give buy or sell.
Next post by 2 PM Sunday.
Saleem
Thursday, October 13, 2011
Mixed close today, despite weak Chinese data.....
Indices behaved much better than feared, by close all indices closed near best level of the day. Nasdaq closed green.
Internals were mixed.
S&P 500 low today was 1190.58, closed @ 1203.66
RSI @ 56.35
Today's TAPE showed resiliency, despite weak trade data from China.
Stocks which were UP 2% or more included CSIQ,
SNDK,JKS,QCOM,SINA,NFLX,GNK....
AH GOOG ER was a beat, stock UP 6.37%
Chinese inflation data just released were as follows :
-CPI came in lower as expected @ 6.1% lower than 6.2% for previous month.
-PPI came in well below expectations of 6.8%, actual 6.5% ......a positive surprise by .3% previous month was 7.3%...a major improvement from last month.....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Internals were mixed.
S&P 500 low today was 1190.58, closed @ 1203.66
RSI @ 56.35
Today's TAPE showed resiliency, despite weak trade data from China.
Stocks which were UP 2% or more included CSIQ,
SNDK,JKS,QCOM,SINA,NFLX,GNK....
AH GOOG ER was a beat, stock UP 6.37%
Chinese inflation data just released were as follows :
-CPI came in lower as expected @ 6.1% lower than 6.2% for previous month.
-PPI came in well below expectations of 6.8%, actual 6.5% ......a positive surprise by .3% previous month was 7.3%...a major improvement from last month.....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Nasdaq green AGAIN......NICE !!!!
Indices are fighting "headline driven weakness"...Nasdaq is ignoring China noise & bad earnings fiction......
In a bull market TAPE, noise about old stories does not hold even for a day.....
Internals are weak so far by 50%......
Gold Down $19
Oil Down 71 cents
Canadian $ Down 25 tick @ 97.96
VIX UP .77% @ 31.50 @ lows of the day..great news for bulls with conviction....
Portfolio is CNQ,CSIQ,FCX,LULU,MOS,RIMM
Most stocks are Down
@ 1.53 following are green :
CSIQ,SOHU,PCLN,AAPL,GOOG,JKS,SNDK,SINA,AMZN,
POT,NFLX,ULTA,GNK,CMG,NTES,BWLD,MA,V,AGU,
CRUS.....
GOOG reports AH, expecting a beat !!!!
BLOG does NOT give buy or sell.
Saleem
In a bull market TAPE, noise about old stories does not hold even for a day.....
Internals are weak so far by 50%......
Gold Down $19
Oil Down 71 cents
Canadian $ Down 25 tick @ 97.96
VIX UP .77% @ 31.50 @ lows of the day..great news for bulls with conviction....
Portfolio is CNQ,CSIQ,FCX,LULU,MOS,RIMM
Most stocks are Down
@ 1.53 following are green :
CSIQ,SOHU,PCLN,AAPL,GOOG,JKS,SNDK,SINA,AMZN,
POT,NFLX,ULTA,GNK,CMG,NTES,BWLD,MA,V,AGU,
CRUS.....
GOOG reports AH, expecting a beat !!!!
BLOG does NOT give buy or sell.
Saleem
Wednesday, October 12, 2011
Indices closed UP .84% to .98%.....NICE !!!!
Indices closed UP again.....
S&P 500 went to 1220.25 before profit taking set in.
S&P 500 closed @ 1207.25
RSI 57.17
Internals were as follows :
UP volume led by 5.31 to 1 in NYSE & 2.75 to 1 in Nasdaq
Advancing stocks led by 4.09 to 1 in NYSE & 2.95 to 1 in Nasdaq
VIX closed @ 31.26, Down 4.87%
As to the market trend, many traders are very nervous @ 1220 level.
Based on sentiment, momentum & seasonally strong Q4, it is a safe bet that we may go through 1230 resistance this time.....
Stocks which were UP around 2% or more included CNQ,CSIQ,FCX,
TCK,FAS,SLW,POT,NFLX,RVBD,SU,MPEL,JKS,C,BAC.......
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
S&P 500 went to 1220.25 before profit taking set in.
S&P 500 closed @ 1207.25
RSI 57.17
Internals were as follows :
UP volume led by 5.31 to 1 in NYSE & 2.75 to 1 in Nasdaq
Advancing stocks led by 4.09 to 1 in NYSE & 2.95 to 1 in Nasdaq
VIX closed @ 31.26, Down 4.87%
As to the market trend, many traders are very nervous @ 1220 level.
Based on sentiment, momentum & seasonally strong Q4, it is a safe bet that we may go through 1230 resistance this time.....
Stocks which were UP around 2% or more included CNQ,CSIQ,FCX,
TCK,FAS,SLW,POT,NFLX,RVBD,SU,MPEL,JKS,C,BAC.......
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
Indices UP 1.52% to 1.80%...NICE !!!!
All indices are green, despite Slovakia negative news flow.
Internals are positive by minimum 3 to 1
Oil UP 26 cents
Gold UP $19.50
Canadian $ UP 1.33 cent @ 98.55
VIX Down 8.49% @ 30.07
In my portfolio :
Added 40% RIMM @ $23.76
Portfolio is CNQ,CSIQ,FCX,LULU,MOS,RIMM
Here is my $ weighting in each :
RIMM 36.79%
MOS 24.57%
FCX 13.91%
LULU 11.52%
CNQ 8.54%
CSIQ 4.67%
Most stocks are UP
@ 1.51 following are RED :
RIMM,AA,VMW,BWLD,APKT,PLCM,
FNSR,SOHU,SVM.....
BLOG does NOT give buy or sell.
Saleem
Internals are positive by minimum 3 to 1
Oil UP 26 cents
Gold UP $19.50
Canadian $ UP 1.33 cent @ 98.55
VIX Down 8.49% @ 30.07
In my portfolio :
Added 40% RIMM @ $23.76
Portfolio is CNQ,CSIQ,FCX,LULU,MOS,RIMM
Here is my $ weighting in each :
RIMM 36.79%
MOS 24.57%
FCX 13.91%
LULU 11.52%
CNQ 8.54%
CSIQ 4.67%
Most stocks are UP
@ 1.51 following are RED :
RIMM,AA,VMW,BWLD,APKT,PLCM,
FNSR,SOHU,SVM.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 11, 2011
Mixed close today......
Indices closed mixed, while Dow lost about 17 points.
S&P 500 & Nasdaq were green...
Internals were positive
VIX closed Down .48% @ 32.86
Stocks which moved UP 3% or more included RIMM,MOS,
BIDU,SINA,APKT,JKS,C.....
Today's TAPE was quite constructive, considering UP move from 1074.77. We closed today @ 1195.54. In the last 6 trading session we have moved UP 120.77 points or +11.24%....that is the-best move in such a short time.RSI closed @ 55.19
Solvakia said NO to extending bailout amount & we are due for a pullback.
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
S&P 500 & Nasdaq were green...
Internals were positive
VIX closed Down .48% @ 32.86
Stocks which moved UP 3% or more included RIMM,MOS,
BIDU,SINA,APKT,JKS,C.....
Today's TAPE was quite constructive, considering UP move from 1074.77. We closed today @ 1195.54. In the last 6 trading session we have moved UP 120.77 points or +11.24%....that is the-best move in such a short time.RSI closed @ 55.19
Solvakia said NO to extending bailout amount & we are due for a pullback.
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Slovakia vote will decide IF we go HIGHER ?
Markets are "nervous" for an all important vote in Slovakia.
16 countries have approved this expanded plan, BUT Slovakia can
change all that today?
So we churn +- till this vote....
Oil UP 43 cents
Gold Down $6.70
Canadian $ Down 23 tick @ 97.13
VIX UP .45% @ 33.17
Internals are Mixed
Portfolio is CNQ,CSIQ,FCX,LULU,MOS,RIMM
Most stocks are Down
@ 1.38 following are UP :
MOS,RIMM, AAPL,BIDU,SINA,JKS,NTES,VMW,
AMZN,CMG,PCLN,GOOG,CRM,POT,AGU,MA,V,
APKT,LVS,C,CIEN.....
BLOG does NOT give buy or sell.
Saleem
16 countries have approved this expanded plan, BUT Slovakia can
change all that today?
So we churn +- till this vote....
Oil UP 43 cents
Gold Down $6.70
Canadian $ Down 23 tick @ 97.13
VIX UP .45% @ 33.17
Internals are Mixed
Portfolio is CNQ,CSIQ,FCX,LULU,MOS,RIMM
Most stocks are Down
@ 1.38 following are UP :
MOS,RIMM, AAPL,BIDU,SINA,JKS,NTES,VMW,
AMZN,CMG,PCLN,GOOG,CRM,POT,AGU,MA,V,
APKT,LVS,C,CIEN.....
BLOG does NOT give buy or sell.
Saleem
Monday, October 10, 2011
Indices closed near high of the day, strongest technical action today...NICE !!!!
Not only we closed near high of the day but also well above 50 DMA in all indices.This is a very significant technical action in a decisive manner, it will be wise to ignore bad technicians coming on CNBC even tonight.
Internals of the market were as follows :
UP volume led by 23.05 to 1 in NYSE & 9.92 to 1 in Nasdaq
Advancing stocks led by 10.92 to 1 in NYSE & 5.28 to 1 in Nasdaq
VIX closed Down 8.78% @ 33.02
Oil closed UP @ $85.41
Gold closed UP @ $1670.80
S&P 500 closed @ 1194.89, RSI @ 55.09..which is HIGHER than recent peak....looks like 60++ may be in the cards....
Indices were UP 2.97% to 3.50%....strong UP day.
Stocks which were UP 4% or more included CNQ,CSIQ,FCX,LULU,MOS,
TCK,FAS,SNDK,BIDU,SINA,NTES,GOOG,WYNN,LVS,POT,ULTA,CMG,AAPL,MPEL,GNK,AGU,MA,JKS,BWLD,JDSU,C,BAC.....
AH Futures Mixed
AH Asian Markets UP
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Internals of the market were as follows :
UP volume led by 23.05 to 1 in NYSE & 9.92 to 1 in Nasdaq
Advancing stocks led by 10.92 to 1 in NYSE & 5.28 to 1 in Nasdaq
VIX closed Down 8.78% @ 33.02
Oil closed UP @ $85.41
Gold closed UP @ $1670.80
S&P 500 closed @ 1194.89, RSI @ 55.09..which is HIGHER than recent peak....looks like 60++ may be in the cards....
Indices were UP 2.97% to 3.50%....strong UP day.
Stocks which were UP 4% or more included CNQ,CSIQ,FCX,LULU,MOS,
TCK,FAS,SNDK,BIDU,SINA,NTES,GOOG,WYNN,LVS,POT,ULTA,CMG,AAPL,MPEL,GNK,AGU,MA,JKS,BWLD,JDSU,C,BAC.....
AH Futures Mixed
AH Asian Markets UP
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
S&P well above 200 DMA.....NICE !!!!
Indices are UP almost 3% on renewed hope for a resolution of European debt issues.
Nasdaq is UP the most @ 3.05%
S&P 500 is well above 50 DMA which is @ 1175.80, currently S&P @ 1189.23.
Oil UP $2.67
Gold UP $38.90
Canadian $ UP 1.17 cent @ 97.37
Internals of the market are strong with minimum 5 to 1 lead.....
Whatever happened to "head & shoulders formation" as highlighted in prime time by Jimmy the Cramer or famous Adami quote of lower than 1020 ?...they will all pretend " they meant HIGHER market "..just a translation error?
In my portfolio :
Bought CSIQ @ $3.49
Portfolio is CNQ,CSIQ,FCX,LULU,MOS,RIMM
Most stocks are UP
@ 1.56 following are Down :
NFLX,FNSR,LDK.....
BLOG does NOT give buy or sell.
Saleem
Nasdaq is UP the most @ 3.05%
S&P 500 is well above 50 DMA which is @ 1175.80, currently S&P @ 1189.23.
Oil UP $2.67
Gold UP $38.90
Canadian $ UP 1.17 cent @ 97.37
Internals of the market are strong with minimum 5 to 1 lead.....
Whatever happened to "head & shoulders formation" as highlighted in prime time by Jimmy the Cramer or famous Adami quote of lower than 1020 ?...they will all pretend " they meant HIGHER market "..just a translation error?
In my portfolio :
Bought CSIQ @ $3.49
Portfolio is CNQ,CSIQ,FCX,LULU,MOS,RIMM
Most stocks are UP
@ 1.56 following are Down :
NFLX,FNSR,LDK.....
BLOG does NOT give buy or sell.
Saleem
Sunday, October 9, 2011
Can we go above 50 DMA in S&P 500 ?
This week S&P 500 was UP 96.63 points from low of 1074.77, this was a move UP of 8.99%....
Friday we closed @ 1155.46, RSI @ 48.13
Oil closed @ $82.98 +4.8% for the week
Gold closed @ $1635.80 +.8% for the week
News flow have been better which was anticipated by market.
Europe is in its final stage of sorting its debt mess.
Individual investors have been bearish as per latest reading, slightly less bearish than March 09 lows.
As we are heading into earnings season, there is a very good chance that we may move higher towards higher end of the trading range.
CMF in S&P 500 is positive with a reading of +.102
50 DMA is 1177.87, which we should cross easily this week....
Next target is 1195.86, followed by 1220.39 then 1230.71........
IF earnings are good & guidance ABOVE expectations...PLUS a resolution of Greek bailout,we have a very good chance of ending October above 200 DMA which is 1277.32.....
As we are entering Q4, which is a strong Q, there is a very good chance that we may establish a new HIGHER trading range.....
October to January is a strong UPTREND cycle...hopefully with a little help from politicians in Europe & USA we may see a strong TAPE.......
Market is dealing with so-called downgrades of European nations in stride, NO PANIC on Friday...which is a very good thing.
Biggest reason for my OPTIMISM is that we traded in a very narrow range for 9 wk from Aug to first week in October, this was a major base building where two low points were 1101.74 in August & 1074.77 in wk 1 of October...a narrow RETEST of support by 26.97 points......
All in all, i think we have seen test & retest of lows for Q4.....
Here is my $ weighting :
MOS 30.18% bought on Friday @ $52.05
RIMM 28.11%
FCX 17.08%
LULU 14.15%
CNQ 10.48%
As you can clearly see, that i am heavy in non-tech.
Good luck with your OWN view of TAPE & comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday we closed @ 1155.46, RSI @ 48.13
Oil closed @ $82.98 +4.8% for the week
Gold closed @ $1635.80 +.8% for the week
News flow have been better which was anticipated by market.
Europe is in its final stage of sorting its debt mess.
Individual investors have been bearish as per latest reading, slightly less bearish than March 09 lows.
As we are heading into earnings season, there is a very good chance that we may move higher towards higher end of the trading range.
CMF in S&P 500 is positive with a reading of +.102
50 DMA is 1177.87, which we should cross easily this week....
Next target is 1195.86, followed by 1220.39 then 1230.71........
IF earnings are good & guidance ABOVE expectations...PLUS a resolution of Greek bailout,we have a very good chance of ending October above 200 DMA which is 1277.32.....
As we are entering Q4, which is a strong Q, there is a very good chance that we may establish a new HIGHER trading range.....
October to January is a strong UPTREND cycle...hopefully with a little help from politicians in Europe & USA we may see a strong TAPE.......
Market is dealing with so-called downgrades of European nations in stride, NO PANIC on Friday...which is a very good thing.
Biggest reason for my OPTIMISM is that we traded in a very narrow range for 9 wk from Aug to first week in October, this was a major base building where two low points were 1101.74 in August & 1074.77 in wk 1 of October...a narrow RETEST of support by 26.97 points......
All in all, i think we have seen test & retest of lows for Q4.....
Here is my $ weighting :
MOS 30.18% bought on Friday @ $52.05
RIMM 28.11%
FCX 17.08%
LULU 14.15%
CNQ 10.48%
As you can clearly see, that i am heavy in non-tech.
Good luck with your OWN view of TAPE & comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, October 7, 2011
Spain & Italy downgrade putting downward pressure .....
Italy & Spain are in the news with downgrade from Fitch.
Indices are down .17% to .89%..off their lows already...
S&P 500 high today was 1171.40, low today so far is 1150.26.
50 DMA is 1177.76...RSI is 47.30
Market is taking this negative news quite well, shows its internal strength.
Internals are down about 3 to 1, Nasdaq being weaker.
This pullback is mild, considering we have gone UP about 96 S&P 500 points, this is a move UP of about 8.9%.....
Jobs report in Canada was strong 61,000 vs expectation of 10,000 a beat by 6 times. US job growth of 103,000 was a beat also.
Gold Down $21.80
Oil Down 63 cents
Canadian $ Down 17 tick @ 96.18
VIX UP 3.97% @ 37.71...a mild move UP..no PANIC in the air..very good for bulls.
Portfolio is CNQ, FCX (bought yesterday @ $34.76),
LULU,RIMM...
Most stocks are Down
@ 2.01 following are green :
JCP,AMZN,NTES,M,AMCC,CRUS,SVM,NYX,
VAR.....
BLOG does NOT give buy or sell.
Next post on Sunday by 2 PM
Saleem
Indices are down .17% to .89%..off their lows already...
S&P 500 high today was 1171.40, low today so far is 1150.26.
50 DMA is 1177.76...RSI is 47.30
Market is taking this negative news quite well, shows its internal strength.
Internals are down about 3 to 1, Nasdaq being weaker.
This pullback is mild, considering we have gone UP about 96 S&P 500 points, this is a move UP of about 8.9%.....
Jobs report in Canada was strong 61,000 vs expectation of 10,000 a beat by 6 times. US job growth of 103,000 was a beat also.
Gold Down $21.80
Oil Down 63 cents
Canadian $ Down 17 tick @ 96.18
VIX UP 3.97% @ 37.71...a mild move UP..no PANIC in the air..very good for bulls.
Portfolio is CNQ, FCX (bought yesterday @ $34.76),
LULU,RIMM...
Most stocks are Down
@ 2.01 following are green :
JCP,AMZN,NTES,M,AMCC,CRUS,SVM,NYX,
VAR.....
BLOG does NOT give buy or sell.
Next post on Sunday by 2 PM
Saleem
Wednesday, October 5, 2011
Steve Jobs...most talented visionary & marketing genius........
We are all saddened by the death of Steve Jobs, his stature is among the greatest genius like Henry Ford & many others.
His software focus & ease of operation created many products which was used & admired by techies & ordinary people....
Steve Jobs was driven for perfection & was non compromising in his expectations.
Steve Jobs created wealth for himself & many others through his many companies like Apple, Pixar, Next which is the software in all Apple products.
YES nobody can replace his VISION & MARKETING genius.........
Lot of investors & traders are fixated as to the price of AAPL shares @ open & close....but Steve Jobs legacy will live forever......he has inspired thousands of engineers & designers worldwide who were awed by him......
Thanks Steve, for broadening my horizon with your creativity.
As a respect for Steve, there will be no shop talk in this BLOG today.
Saleem
His software focus & ease of operation created many products which was used & admired by techies & ordinary people....
Steve Jobs was driven for perfection & was non compromising in his expectations.
Steve Jobs created wealth for himself & many others through his many companies like Apple, Pixar, Next which is the software in all Apple products.
YES nobody can replace his VISION & MARKETING genius.........
Lot of investors & traders are fixated as to the price of AAPL shares @ open & close....but Steve Jobs legacy will live forever......he has inspired thousands of engineers & designers worldwide who were awed by him......
Thanks Steve, for broadening my horizon with your creativity.
As a respect for Steve, there will be no shop talk in this BLOG today.
Saleem
Indices UP .78% to 1.92% on strong buying....NICE !!!!
Indices are strong as buyers are in the market.
S&P 500 is @ 1136.70 higher high back to back.
Oil UP 4.72%
Gold UP 1.29%
Canadian $ UP 97 tick @ 95.77
VIX Down 6.93% @ 37.99
In my portfolio :
Bought CNQ @ $27.54
Added 24% RIMM @ $23.50
Portfolio is RIMM, LULU,CNQ
Here is my $ weighting :
RIMM 53.30%
LULU 26.82%
CNQ 19.88%
Most stocks are UP
@ 2.07 following are Down :
APKT,JCP,GHDX,CMG,BWLD,CRM,
V,M,BIDU,C,BAC,SNE,GS....
BLOG does NOT give buy or sell.
Saleem
S&P 500 is @ 1136.70 higher high back to back.
Oil UP 4.72%
Gold UP 1.29%
Canadian $ UP 97 tick @ 95.77
VIX Down 6.93% @ 37.99
In my portfolio :
Bought CNQ @ $27.54
Added 24% RIMM @ $23.50
Portfolio is RIMM, LULU,CNQ
Here is my $ weighting :
RIMM 53.30%
LULU 26.82%
CNQ 19.88%
Most stocks are UP
@ 2.07 following are Down :
APKT,JCP,GHDX,CMG,BWLD,CRM,
V,M,BIDU,C,BAC,SNE,GS....
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 4, 2011
Indices staged a V reversal in high volume...NICE !!!!!
Things were looking more than gloomy when S&P 500 went down to 1074.77, BUT last 40 minutes saw a huge spike in buying, S&P 500 closed @ 1123.95......This IS a huge reversal & technical action which will become a reference point in this downturn.
Internals were :
UP volume led by 5.79 to 1 in NYSE & 10.75 to 1 in Nasdaq
Advancing stocks led by 1.52 to 1 in NYSE & 2.68 to 1 in Nasdaq
BUT new 52 wk lows were 1164 in NYSE & 715 in Nasdaq
VIX tumbled 10.19% @ 40.82
BUT all this positive TAPE will be put to test again on Wed as Moody's cut Italy by 3 notches with Negative outlook.
IF we can close ABOVE 1101.54, then we will have another technical victory back to back.
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
Internals were :
UP volume led by 5.79 to 1 in NYSE & 10.75 to 1 in Nasdaq
Advancing stocks led by 1.52 to 1 in NYSE & 2.68 to 1 in Nasdaq
BUT new 52 wk lows were 1164 in NYSE & 715 in Nasdaq
VIX tumbled 10.19% @ 40.82
BUT all this positive TAPE will be put to test again on Wed as Moody's cut Italy by 3 notches with Negative outlook.
IF we can close ABOVE 1101.54, then we will have another technical victory back to back.
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
Indices Down .51% to 1.50% .......
Indices are currently down, indices are gyrating too much, as if they are trying to find a bottom.
New 52 wk lows are 1569 in NYSE & 712 in Nasdaq.......this is a deeply oversold indicator...
VIX Down 2.62% @ 44.26, it went to 46.88 as high @ open...this is a non- confirming indicator of this down market..hope for bulls ?
Gold Down $41.30
Oil Down $2.20
Canadian $ Down 82 tick @ 94.06
Portfolio is LULU & RIMM
Internals are Mixed
@ 2.43 following are Green :
LULU,JCP,FCX,SNDK,CMG,NTES
WYNN,LVS,APKT,FFIV,JKS,TSL,
STP,MPEL,VMW,QCOM,CRM,
PLCM,BIDU,TCK,FNSR,CRUS,
CTRP,FMCN,SOHU,NYX,VAR.
BLOG does NOT give buy or sell.
Saleem
New 52 wk lows are 1569 in NYSE & 712 in Nasdaq.......this is a deeply oversold indicator...
VIX Down 2.62% @ 44.26, it went to 46.88 as high @ open...this is a non- confirming indicator of this down market..hope for bulls ?
Gold Down $41.30
Oil Down $2.20
Canadian $ Down 82 tick @ 94.06
Portfolio is LULU & RIMM
Internals are Mixed
@ 2.43 following are Green :
LULU,JCP,FCX,SNDK,CMG,NTES
WYNN,LVS,APKT,FFIV,JKS,TSL,
STP,MPEL,VMW,QCOM,CRM,
PLCM,BIDU,TCK,FNSR,CRUS,
CTRP,FMCN,SOHU,NYX,VAR.
BLOG does NOT give buy or sell.
Saleem
Monday, October 3, 2011
S&P 500 broke major support.....
S&P 500 has closed @ a level of 1099.23 which all of us had hoped will not come.
Now that famous 1101.54 is gone, where do we go from here ?
Carter Worth who was also humbled today by this close, has few data point on S&P 500:
-First IF we close above 1101.54 on Tuesday, then we are OK...
-S&P 500 can close @ 1090 on Tuesday..still we are OK..
-BUT IF we close below 1090 then we are looking @ 1065
I feel, IF we do not close ABOVE 1101.54 on Tuesday, then we are looking @ support in 1050 area......
Internals of this market were :
Down Volume led by 25.85 to 1 in NYSE & 15.98 to 1 in Nasdaq
Declining Stocks led by 9.48 to 1 in NYSE & 12.35 to 1 in Nasdaq
New 52 wk low were 824 in NYSE & 611 in Nasdaq
VIX closed @ 45.45 UP 5.8%
Oil closed @ $77.61
Gold closed @ $1657.70
The obvious question IS, how to position in this market ?
-Currently good news has no positive action @ all ?
-Greece lingers ON ?
-High profile names were acting WEAK today ?
-Volume was HIGH in today's selling ?
All of this has prompted me to stay @ 24.4% exposure for three day's now, which has saved me lot of grief of evaporating equity......
This is NOT the time to be HIGH on any stock, no matter how much you love them. Stocks have only ONE purpose, it is to make you money NOT lose money ?
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Now that famous 1101.54 is gone, where do we go from here ?
Carter Worth who was also humbled today by this close, has few data point on S&P 500:
-First IF we close above 1101.54 on Tuesday, then we are OK...
-S&P 500 can close @ 1090 on Tuesday..still we are OK..
-BUT IF we close below 1090 then we are looking @ 1065
I feel, IF we do not close ABOVE 1101.54 on Tuesday, then we are looking @ support in 1050 area......
Internals of this market were :
Down Volume led by 25.85 to 1 in NYSE & 15.98 to 1 in Nasdaq
Declining Stocks led by 9.48 to 1 in NYSE & 12.35 to 1 in Nasdaq
New 52 wk low were 824 in NYSE & 611 in Nasdaq
VIX closed @ 45.45 UP 5.8%
Oil closed @ $77.61
Gold closed @ $1657.70
The obvious question IS, how to position in this market ?
-Currently good news has no positive action @ all ?
-Greece lingers ON ?
-High profile names were acting WEAK today ?
-Volume was HIGH in today's selling ?
All of this has prompted me to stay @ 24.4% exposure for three day's now, which has saved me lot of grief of evaporating equity......
This is NOT the time to be HIGH on any stock, no matter how much you love them. Stocks have only ONE purpose, it is to make you money NOT lose money ?
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 so far 1104.61...above previous low of 1101.54......NICE !!!!
Indices are following world markets lower & testing support...so far so good.
S&P 500 low today is 1104.64..RSI @ 37.46
Technically we are still showing relative strength by not piercing Aug 2011 low of 1101.54 & we are well above CNBC gurus number of 1010...
Internals are as follows :
Down volume led by 5.13 to 1 in NYSE & 6.85 to 1 in Nasdaq
Declining stocks led by 7.79 to 1 in NYSE & 9.49 to 1 in Nasdaq
New 52 wk lows were 908 in NYSE & 423 in Nasdaq
New lows in NYSE is a sign of "major capitulation"
VIX UP 4.63% @ 44.95
Oil Down $1.85
Gold UP $37.40
Canadian $ Down 11 tick @ 95.19
Portfolio is LULU & RIMM
Most stocks are down
@ 2.23 following are green :
RIMM,BIDU,GG,PCLN,NFLX,SLW...
BLOG does NOT give buy or sell.
Saleem
S&P 500 low today is 1104.64..RSI @ 37.46
Technically we are still showing relative strength by not piercing Aug 2011 low of 1101.54 & we are well above CNBC gurus number of 1010...
Internals are as follows :
Down volume led by 5.13 to 1 in NYSE & 6.85 to 1 in Nasdaq
Declining stocks led by 7.79 to 1 in NYSE & 9.49 to 1 in Nasdaq
New 52 wk lows were 908 in NYSE & 423 in Nasdaq
New lows in NYSE is a sign of "major capitulation"
VIX UP 4.63% @ 44.95
Oil Down $1.85
Gold UP $37.40
Canadian $ Down 11 tick @ 95.19
Portfolio is LULU & RIMM
Most stocks are down
@ 2.23 following are green :
RIMM,BIDU,GG,PCLN,NFLX,SLW...
BLOG does NOT give buy or sell.
Saleem
Sunday, October 2, 2011
WHY S&P 500 not well below 1100 ?
There has been many predictions for almost a year by so-called gurus that S&P 500 should be @ 1010 or 999 or even below 666........
Greece is troubled for months, US economy on the verge of recession , Europe economy is a basket case & China is slipping.....
Europe slumped by 17% +, Dow 12%+, Nasdaq 13%+, S&P 500 14%+..all dropped on FEAR of economic slump worldwide.....
SO..why we are @ 1131.42 ?
Despite all of the above mess, we have not even tested 1100 support.......
FEAR is higher than Aug 8th low ?
VIX @ 42.09 is highest monthly close since March 2009....
Friday volume was LOWER in Nasdaq ?
Dow theory is also NOT confirming a bear market ?
CMF in S&P 500 is barely negative ?
MAYBE.....things are NOT as bad as being projected in media or by fear mongerer....
China PMI on Saturday came in better than feared on Friday, 51.02 which was better by .3 from previous month..a back to back 2 month gain...HSBC caused a panic selling on Friday worldwide by forecasting 49.9% PMI for China...HSBC prediction was wrong by a wide margin..
Is worldwide growth in 2012 really that weak?
China is expected to grow its GDP in 2012 by 8%
India is expected to grow its GDP in 2012 by 6%
US should grow its GDP in 2012 by almost 2%
Canada should grow its GDP in 2012 by almost 3%
These biggest economy is more than healthy for next year.....
I do not know about you, but i do not see recession in 2012 @ all
Markets generally OVERSHOOTS on the downside also...
HFT & its supercomputers / black box are in total control these days as retail takes a back seat by fear.....
Many strong stocks like AMZN, AAPL are holding up pretty good......
Many stocks are taken to a level where PE is @ 1, 2, 3, 4,5...which is unheard of in a growth environment......
YES..EU & ECB is in the process of resolving bailout issues, its in the end game stage...so more than necessary have been discounted in indices worldwide.
YES..i had to reduce my exposure from 100%+ on Thursday AM, as i felt that downdraft is IMMINENT in all indices...Thursday & Friday was brutal in markets...which saved me serious $...
I feel now, that market has discounted more than necessary & has held key support level.
We may have seen the worst of selling already......
It IS time, to slowly get back in this market in good quality stocks.
In selection process look @ fundamental picture of each stock in terms of 2012 PE.
Good luck with your OWN analysis & comfort level.
BLOG does NOT give buy or sell.
Saleem
Greece is troubled for months, US economy on the verge of recession , Europe economy is a basket case & China is slipping.....
Europe slumped by 17% +, Dow 12%+, Nasdaq 13%+, S&P 500 14%+..all dropped on FEAR of economic slump worldwide.....
SO..why we are @ 1131.42 ?
Despite all of the above mess, we have not even tested 1100 support.......
FEAR is higher than Aug 8th low ?
VIX @ 42.09 is highest monthly close since March 2009....
Friday volume was LOWER in Nasdaq ?
Dow theory is also NOT confirming a bear market ?
CMF in S&P 500 is barely negative ?
MAYBE.....things are NOT as bad as being projected in media or by fear mongerer....
China PMI on Saturday came in better than feared on Friday, 51.02 which was better by .3 from previous month..a back to back 2 month gain...HSBC caused a panic selling on Friday worldwide by forecasting 49.9% PMI for China...HSBC prediction was wrong by a wide margin..
Is worldwide growth in 2012 really that weak?
China is expected to grow its GDP in 2012 by 8%
India is expected to grow its GDP in 2012 by 6%
US should grow its GDP in 2012 by almost 2%
Canada should grow its GDP in 2012 by almost 3%
These biggest economy is more than healthy for next year.....
I do not know about you, but i do not see recession in 2012 @ all
Markets generally OVERSHOOTS on the downside also...
HFT & its supercomputers / black box are in total control these days as retail takes a back seat by fear.....
Many strong stocks like AMZN, AAPL are holding up pretty good......
Many stocks are taken to a level where PE is @ 1, 2, 3, 4,5...which is unheard of in a growth environment......
YES..EU & ECB is in the process of resolving bailout issues, its in the end game stage...so more than necessary have been discounted in indices worldwide.
YES..i had to reduce my exposure from 100%+ on Thursday AM, as i felt that downdraft is IMMINENT in all indices...Thursday & Friday was brutal in markets...which saved me serious $...
I feel now, that market has discounted more than necessary & has held key support level.
We may have seen the worst of selling already......
It IS time, to slowly get back in this market in good quality stocks.
In selection process look @ fundamental picture of each stock in terms of 2012 PE.
Good luck with your OWN analysis & comfort level.
BLOG does NOT give buy or sell.
Saleem
Subscribe to:
Posts (Atom)