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
4 comments:
SALEEM
Great stock selections
I too looked at MS
Cramer was still hesitant on banks as Bank of America sucks-next week is earnings
Stil got my AUY and FCX.
Please have good weekend
I got to clean up the garden
c
Hi C,
As market goes higher..beaten down stocks gets attractive.....
I did my garden work last Saturday.
Have a great weekend.
Saleem
Hey Saleem and c,
If you believe in the US economy, you have to believe in banks at this level. They are too depressed with most trading well below tangible book value to not rise even in a slow growth environment. I believe housing, capital markets, credit cards, and asset management will all look better in coming months. The only glitch is prop trading with the Volcker rule, but all that is priced in in my opinion.
I will unfortunately probably not be willing to sell something now to buy the MS I like here, but I do have exposure with the BAC I still own and do find their valuation attractive also.
Have a great weekend guys! :)
Stocktrader
Hi Stocktrader,
There are different style of trading & most of us are different from each other.
MS looks pretty stable here after finding support......
I was lucky to get MS @ my price few mts before close...
MS Looks very good to me.
Enjoy your weekend !!!!
Saleem
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