Today all indices made higher highs, a technical confirmation of strength. S&P 500 & Dow made HIGHER close also.Main reason for strength was that consumer sentiment is @ highest level since July.
This rally has one thing going for it, utter disbelief about its strength & staying power. This should carry us much higher than 1225......
Internals of the market were negative by 50% Max.
Nasdaq fade / weakness was a major surprise.
Wed is the last day of the month, we may get some fireworks going into close.
EU Finance Ministers agreed on expanding funding for rescue fund, details to be worked out with IMF...another step closer to resolution.
Stocks which ended green @ close included CNQ,AUY,CLF,
CMG,GG,SU,CRUS,C,M,TCK,JCP,TLM,BJRI,OTEX,RIMM,
FCX.....
AH ER OVTI Down 11.62% in AH volume of 996,273
AH Futures Down
AH Asian Markets Down
AH Gold UP
AH Oil Down
BLOG does NOT give buy or sell.
Saleem
22 comments:
Hey Saleem,
My small selling looked really smart until the Chinese lowered reverse requirements (something I'd been looking for!) and it's just piled on more since then with the coordinated Central Bank liquidity actions and then the ADP employment data. I did forget about ADP today else I might have sold less or none as I had been looking for a good number on Friday.
This is what I get for trying to play for a quick trade...now the fact that I've got overnight cash for the first time in weeks/months? feels like a lead weight in my pockets while we're trying to run!
Stocktrader
Hi Stocktrader,
Technicals generally are a pre-cursor of better things to come..so i keep my faith in technicals & ignore noise by so-called gurus..who only know after the-fact.
I was expecting stimulus from China as per my Sunday BLOG.
I hope you do not have to wait 3 days for buying.....
Saleem
Hey Saleem,
It is complicated but the 3-day restriction is relaxed as long as I don't sell a stock bought with uncleared funds, which simply means I can't sell any stock I buy today (with yesterday's raised cash) until Friday otherwise the full 3-day restriction goes back into effect.
I'm looking at COH & RIG specifically this morning, but this gets a lot more difficult with the up 300 pt opening obviously.
Stocktrader
Hi Stocktrader,
Good luck with your new buys.
Saleem
GOOD morning to you Saleem
And all
Are you selling anything on this pop
I am euphoric about the pop in market
thanks
Hey Saleem,
Ended up buying ULTA (1.5 pos), RIG, and LLEN (0.5 pos).
Stocktrader
Hi C,
Please stay put..it is a mjor UPTREND.
Saleem
Hi Stocktrader,
Bought SNDK & M.......
Good luck with your portfolio.
Saleem
SALEEM
I am so happy
thanks for your support
Stocktrader
RIG is a Cramer Favorite
UP on huge volume--OK -you rock
Hey Saleem,
Nice new picks! Your stock exposure must be very high now?
Stocktrader
Hi Stocktrader,
I am @ my highest exposure in 5 years.......11 stocks & 200% exposure.
Saleem
SALEEM
Are you that confident in the market?
Cool .
Did you use margin?
Thanks
Hi C,
YES..my confidence should have been obvious with my daily add-on.
When Canadian $ jumps my buying power jumps also...now CAD is @ 98.51.....giving me daily buying power....then add the power of margin.....
Saleem
Saleem
SALEEM
WOW what a market
Even the poor performing stocks got a lift today
I got some SNDk art $48.75
Hi C,
SNDK has been the-best performer in this lousy market...should make new 52 wk high easily.
Good Luck !!!!
Saleem
Hey Saleem,
Sold half my RVBD at $25.94, looking to start a half position in JKS.
Stocktrader
Hi Stocktrader,
Good luck with your switch.
Saleem
Hey Saleem,
Thanks for the good wishes! I got JKS at avg $5.64575. Auriga upgraded a lot of solars today with nice PTs, so I'm playing this for a nice bounce and maybe a longer term bottom? At the very least, the short interest in these solars is huge.
I'm still disappointed I sold CLF and SWC yesterday (and let's not forget the ACI->AAPL switch on Monday!) when those would have been some of the best to own today after China's move, but I'm not looking back and trying to make the correct moves for today.
Stocktrader
Hi Stocktrader,
We all make mistakes, it is important to catch up with better decision.
I am sure you will do well.
Saleem
Stocktrader
I to have made some mistakes
I got the APPLE call at $355 and GNK at $9
Do not know what to do with GNK sell or hold
You seems to be on top of the game
C
Hey c,
I would hold GNK as long as it holds the bottoms from last week at 6.50-6.60. I'm actually considering another half-sell to pick up some GNK.
Stocktrader
Stocktrader
thank you for your advise
C
Post a Comment