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
at

11 comments:

  1. BertOctober 12, 2011 at 9:05 PM

    Things are looking really good, I love looking at this blog, it gives me a good outlook on the market. I am pretty happy with PAL right now, I got in at 2.03 and it is up to 2.74 already:) Do you have any suggestions on what to buy tomorrow? I am looking at NYSE:MT what do you think?

    ReplyDelete
  2. Stocks100October 13, 2011 at 5:10 AM

    Hi Bert,

    Thanks for your feedback.

    I trey to interpret market trend based on technical & fundamental reasons.

    I think Solar stocks are still dirt cheap....SOL,YGE,JKS,TSL & CSIQ looks compelling.

    Good luck with PAL & new selection.

    Saleem

    ReplyDelete
  3. BertOctober 13, 2011 at 6:23 AM

    I would agree with you there, I picked up some CSIQ as well a few days ago. They still haven't gone anywhere but I am sure they will.

    Today looks like it might start out low.

    ReplyDelete
  4. stocktrader_1996October 13, 2011 at 6:38 AM

    Hey Saleem,

    Sold out of my JKS at 8.33--got a nice run and I'll see what happens from here.

    Stocktrader

    ReplyDelete
  5. Stocks100October 13, 2011 at 6:44 AM

    Hi Stocktrader,

    Excellent quick profit in JKS...

    Saleem

    ReplyDelete
  6. cOctober 13, 2011 at 7:00 AM

    Saleem

    Looks lie3k FCX got smacked hard

    Oh well..
    Looking at FORD here. Med term hold for me If I buy

    GOOD luck to all

    ReplyDelete
  7. Stocks100October 13, 2011 at 7:19 AM

    Hi C,

    FCX is down because of lower Gold also.....

    Good luck with your next buy !!!

    Saleem

    ReplyDelete
  8. MichaelOctober 13, 2011 at 8:58 AM

    Saleem,

    I think it is technology turnaround time now. SNDK, SINA, GOOG, AAPL... They are all up while commodities are all down. Thanks.

    Michael

    ReplyDelete
  9. Stocks100October 13, 2011 at 9:14 AM

    Hi Michael,

    China news is taking a toll in commodities....

    GOOG reports tonight..should be a beat.

    FCX,TCK,CNQ will be bigger winner in long term.......as recovery is taking hold.

    Short term is hard to predict.

    Saleem

    ReplyDelete
  10. cOctober 13, 2011 at 10:15 AM

    SALEEM

    APPLE is on a ROLL

    Should I sell the call? here are the stats:

    AAPL Option | Exchange: AAPL 355.00 Nov 11 Cash value $5,625.00,

    SINA is on FIRE!! smoking!

    ReplyDelete
  11. Stocks100October 13, 2011 at 10:38 AM

    Hi C,

    Hold off in selling AAPL call...i think it goes to $415 easy.....

    Saleem

    ReplyDelete