Indices were under pressure from 830 AM, when jobs data missed consensus by 10 K. Canadian job data was a disaster, instead of job growth of 12k actual was lost jobs of 54K.
Silver lining in US job data was that both Aug & Sep were revised UP significantly.
S&P 500 low today was 1238.92, but we closed near high of the day @ 1253.23
Internals were negative by 50%...
Oil UP 29 cents
Gold Down $6.20
Canadian $ down 93 tick @ 98.30
VIX closed Down 1.11% @ 30.16...this gives lot of hope for bullish in equity, should have jumped about 5% on a down day in indices?
Portfolio is CSIQ,LVS,JCP,POT,RVBD,TLM,AUY...
Stocks which closed green included CSIQ,JCP,POT,AUY,
BRCD,WWWW,CLF,FCX,MOS,PCLN,SNDK,CMG,APKT,
VMW,FFIV,NTES,QCOM,RIMM,TSL,CRUS,ARUN.....
Next post by 2 PM on Sunday.
BLOG does not give buy or sell.
Saleem
9 comments:
Hey Saleem,
Today was one of the most uncorrelated stock days I've seen in a while. A lot of stocks across completely different industries went up. This is a good sign for the overall market in my opinion.
Stocktrader
Hi Stocktrader,
You are absolutely right, we are getting ready to go above range.
Have a nice weekend !!!!
Saleem
Hi C
Stock go up because demand is far out weight supply, and currently I don't see the demand is there anymore. Maybe it is due to Steve. I keep asked myself if one day Warren Buffett is not here with us anymore. Will people still want to hold on to his company? With this in mind, I think big investors are now in a show me what you could do mode. I do agree AAPL chart is looking better, but sometime chart is no everything. They do lie. I like AAPL but there is always better stock to play with higher return by using less capital. Hope this explained why I am caution. One more thing about AAPL, they tend to go up 70% of time on Monday
Happy Saturday to all
UP
I am thrilled that you shared with me your opinion of APPLE
APPLE is a heart pounding stock to own and is so explosive! I agree with your analysis !
I have a thought too: APPLE news is out--S Jobs death was know to come so it was priced into the stock price
I believe that we would be $550 now if S JObs did not have cancer and get sick, on us.
His vision is with us for 2 years or more--Yes apple did NOT release a new phone 4s did however blow the socks of all current phones out there.
APPLE is executing sales on all it products--no decline there! IMHO, APPLE will soar how high and when is the real question. I have stayed with APPLE for over 3 years and every earning season they beet esitmates! This time they did not beet the analyst's estimates.... Does that mean APPLE flops--do not think so..
Will APPLEs stock price be price bound or break out--that is the question!!! Stocktrader seems to think that
APPLE will run---I think Christmas rally will carry APPLE to new highs.
Best to all
I am at the air port at FT Laurderdale, FL---warm 65%
C
Comments are appreciated
Hi C,
Stock price is the-biggest verdict based on all pros & cons.....
I have heard $600+++ price target for almost 12 months...Gene Munster is the-biggest bull...
I personally believe that $ allocated to other stocks will give better return in 12 months time.....
Loving products made by Apple & stock appreciation are two different things.....many traders mixed the two?
Saleem
Hi C
Have you wonder why AAPL only go up $10 on a good day and other stock that is value at $20 could go up a dollar with a blink of eye. Reason is that it is a 370 billions company and it needed a lot of money to move it. Look around, with all this must own companies in this past 10 years, they all tend to stop appreciation at some point. Is AAPL going to join them soon. That is a million dollar question? I don't see a breakdown on chart, it will either stay inside trendline or break above it.
Hi saleem , do you see CME raising margin requirements putting downward pressure on stocks?thanks charlie
Hey guys,
While AAPL tends to move slower than other stocks we choose, using a deep-in-the-money call like c does can really ramp up your beta. Instead of a 10% move from 400-440, you are looking at a 50-100% return depending on which call you choose.
I have never seen AAPL raise guidance for a quarter to above the street's current consensus like they did on the last earnings report. I think Q4 will see good gains for AAPL ahead of the Q4 report in January. That's about all I'm willing to predict for now, but catalysts for next year include the iTV, emerging market share gains, and shareholder distribution of the cash hoard.
I currently have AAPL as a position, but in the past I've tended to use it as a source of funds for other stocks quickly. I might try the deep-in-the-money call myself as I think a move to 440+ by year end is likely, and I'd like to capture more than a 10% return if I'm going to keep it.
Have a great weekend guys! :)
Stocktrader
Hi Charlie,
CME works with its own rules, most of the time it dampens enthusiasm for a while...BUT trend remains in tact.
CME controls futures trading, where we are not involved.
IF you are looking @ Gold / Silver bullion then it may affect it..BUT gold stocks are ready to make new highs in terms of AUY & others...based on Charts.
Saleem
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