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
10 comments:
Saleem,
Today is looking good. What will be tomorrow? This is $$$$ question. I have been 85% of exposure. I planned to sell all today, but did not sell them yet. What did you see in this rebound? Is this because of deeply oversold or issues have been discounted? Thanks for your comment.
Michael
Hi Michael,
Markets not only has discounted all issues...BUT its looking towards resolution of big ones...
I say stay with all your winning position...that is what i am doing.
Saleem
S
what a wow recovery day
thanks for your support
I did sell CNQ--a tidy profit for a day trade
LULU AUY and APPLE did a nice pop
Is BIDU or FFIV a buy here--ore they unsafe?
Very best to all Have a cold one--OK
C
Saleem,
Thanks for your comments. I will stay put. Stocktrader was afraid about the ECB meeting tomorrow. Hopefully it will be okay.
Michael
Hi C,
BIDU is definitely "unhealthy"
FFIV has moved UP quite a bit..
Focus on Commodity related stocks which are near bottom....
Saleem
Hi Michael,
Stock trading is never worry free, but we have to keep things in perspective.
When stocks are deeply oversold, they can ignore many negative news...that is where we are....by end of trading day we should be fine....
IF there is a negative open, i will try to add one more stock...
Saleem
Hey Saleem et al,
JJC (copper tracker) posted its first back-to-back accumulation day since copper was near $4. I love the commodities here!
ECB "disappointment" *might* be the perfect excuse to take profits after two strong days. I stuck with my hedging, and will evaluate again tomorrow, but I'm looking for an opportunity to take the short off. It will be tough to argue for recession when the Q3 GDP posts > 2%.
Stocktrader
Hi Stocktrader,
Can you imagine..Oil was the-strongest today...best 1 day gain in a long time.....
I am looking @ many commodity related stock.....they are bargain...
Saleem
Hey Saleem,
I'm actually considering some commodity super laggards like SWC. It has a great bottoming chart and high short interest even though I'm not particularly impressed with management. Some of these really low ones look like they could move 30-50% in short order like PAL, SWC, KOG, etc. It makes me wonder about the likes of JKS, TSL, DQ...
Stocktrader
Hi Stocktrader,
I will stay out of Solar, their fundamental is in deep trouble.
FCX,MOS,TCK are my narrow focus.
Saleem
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