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
at

5 comments:

  1. stocktrader_1996October 21, 2011 at 11:09 AM

    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

    ReplyDelete
  2. Stocks100October 21, 2011 at 11:15 AM

    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

    ReplyDelete
  3. cOctober 21, 2011 at 11:44 AM

    Stocktrader

    YOU are one busy trader

    Compared to you I feel that I snooze

    HAve a good weekend...
    C

    ReplyDelete
  4. charlieOctober 23, 2011 at 6:25 AM

    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

    ReplyDelete
  5. Stocks100October 23, 2011 at 11:28 AM

    Hi Charlie,

    YES...that scenario is a major probibilty..but may happen mid Nov or so for sprucing up year end gain.

    Saleem

    ReplyDelete