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
5 comments:
Hey Saleem,
Great to see us above those tops from the last two months. I bought some FAS at 13.21 (selling some of my Chinese super small caps) to try and capitalize on this midday dip, but also like the banks for a major short squeeze on crisis-abatement of Europe (besides thinking about a rebound in housing and commercial loans).
Bought a few more BEXP calls too because I was able to get some Jan 38s for $0.10 today--I've promised myself no more though!
Have a wonderful weekend! :)
Stocktrader
Hi Stocktrader,
YES..financial theme will work after a very long downtrend.
I will reposition on Monday.
Good luck with your strategy.
Enjoy your weekend with your family & especially 1 yr old !!!
Saleem
Stocktrader
YOU are one busy trader
Compared to you I feel that I snooze
HAve a good weekend...
C
Hi Saleem,
What is your take on argument that fund managers are flat to down for year and have to start buying to get a positive return for year. thanks charlie
Hi Charlie,
YES...that scenario is a major probibilty..but may happen mid Nov or so for sprucing up year end gain.
Saleem
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