Indices were under pressure after impressive close on Friday.
Market chose to ignore Warren Buffet stake of 5% in IBM, ironically IBM closed lower on this news ...this defies past reaction to WB stake in any company including BOA....
Market chose to focus on a "minor uptick in Italian Bond rates to 6.76%, which is well within workable range"...few days back it shot up to almost 7.5%
Internals of the market were as follows :
Down volume led by 6.01 to 1 in NYSE & 3.91 to 1 in Nasdaq
Declining stocks led by 3.22 to 1 in NYSE & 2.94 to 1 in Nasdaq
VIX closed UP 3.63% to 31.13
Oil closed @ $98.14
Gold closed @ $1778.40
AH Futures Mixed
AH Asian markets Down
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
GOOD MORNING Saleem
ReplyDeletePre market is red
What happened was expecting some JOY
C
Hi C,
ReplyDeleteNot a bad start..considering futures were down 114 in Dow...
Economic reports in US were great.
Saleem
Yes
ReplyDeleteI can see the news on Bloomberg
Thanks
Looks like APPLE want to play today
Hi C,
ReplyDeleteAAPL has turned the corner $$$$$
Saleem
APPLE call is up 3 smackers today
ReplyDeleteFinally a little love!! :):)
FCX is dues for a run
Copper and gold mixture
Hope you are well and feeling v well
Hi C,
ReplyDeleteFunny you ask about my health?
I have been down with bad flu for 4 days......feeling a touch better today...
Saleem
Hi All
ReplyDeleteWatch CLF, looks like it is going to be huge
Saleem,
ReplyDeleteDid you take yearly flu shot? I use to take flu shot every year. Hope you will be a lot better.
This week the market is driven by MM and it depends a lot on the strike prices of each stock.
So far RVBD is a gem.
Michael
Hi Michael,
ReplyDeleteFlu shot makes me sick for 2 days...but taking homeopathic treatment...."Oil Of Oregano" which is very helpful.
YES...RVBD is doing well on upgrade & target increase from RBC.
Saleem
Hi Up,
ReplyDeleteCLF has been very strong since $66.....
Saleem
Saleem
ReplyDeleteHope you feel better since this time of the year, lot of people catch flu easily
Hi Up,
ReplyDeleteThanks for your get well message.
Today is a much better than last 4 days.
Saleem
Hey Saleem,
ReplyDeleteI'm "forced" to take a flu shot every year because of the three little ones in the house. I hope you feel better! :)
RVBD, CLF, and BAC are my workhorses today with GNK the biggest, but not horrible, laggard.
Stocktrader
Hi Stocktrader,
ReplyDeleteThanks for your message for my health.
Today is a much better day for my health.
GNK is slated for a "breakout" while CLF had a breakout already on Friday.....
Your portfolio looking good$$$$$
Saleem
Stocktrader
ReplyDeleteCongratulations on some good stock picks
Hurray $$$
Saleem,
ReplyDeletewill we close in Green today? The market seems to looking for the direction.
Michael
Hey guys,
ReplyDeleteI got AAPL for a friend today at $380.30--he's already thanking me! :) I can't find a sell in my portfolio to get some myself, but it definitely looks great today. For my purposes, the AAPL for RVBD swap has worked extremely well, but I continue to analyze my laggards to maybe repurchase the AAPL.
Stocktrader
Hey c,
ReplyDeleteThanks for the kind comments. It is nice to have some great performers on a flat/down day :).
Stocktrader
Hi Michael,
ReplyDeleteYour wish for a green close is approved......
Saleem
Saleem,
ReplyDeleteThanks for your approval. I like Green color.
Michael
Saleem,
ReplyDeleteFinance is very weak, all eyes are on GS, if it turn around all finance stock will follow
Hi Up,
ReplyDeleteI have lost hope in finance "turnaround focus"...thus sold MS......getting tired of wasting $ in finance.../deployed same fund to RVBD......where there is lot of action....
Saleem
Saleem,
ReplyDeleteWhy not wait for a long white candle before damping, since finance is way way oversold and bounce will be coming any day
Hi Up,
ReplyDeleteFunds deployed in RVBD @$29.11 is working out......
Saleem
Saleem,
ReplyDeleteI got some RVBD at 28.37 yesterday, but it is approaching upper trendline and getting a little overbought, when market bounce, i always wanted stocks that are either oversold or getting out of oversold territory, they tend to give more gain along the way
Stocktrader,
ReplyDeleteIf i am right, CLF is going to be a strong buy from here on, since it is breaking out from a triangle on weekly. Might see 80 plus soon
Hey Up,
ReplyDeleteWith $14/share in earnings, maybe $140? :)
Hey Saleem,
I sold my AUY ($16.19) to free up funds for this positive-biased market. I bought GNK ($9.44) with the proceeds to really make it overweight in my portfolio--the chart seems really juicy for a breakout as you mentioned, and investor sentiment in shippers is still fairly negative--good combination in my opinion. Today seems to be the "calm before the storm"?
Stocktrader
Hi Up,
ReplyDeleteWe all have a buy & sell strategy which works for us.....I have a tendency to stick with stocks which are showing strength....."buy high & sell higher" may be coming in vogue now......
Saleem
Hi Stocktrader,
ReplyDeleteVery good strategy to add in GNK..breakout point is $9.93 with a target of $11.19...we all know once a breakout happens ..it goes much higher.....
GNK has the-best chart which i observed over the weekend analysis.....
Good luck with GNK !!!!
Saleem
Saleem,
ReplyDeleteTriangle on SPY, we are in a very narrow range right now, if we break out, we will see huge gain for all of us. Looks like you are right all this time, and thank you for sharing all those useful information with us
Hello all
ReplyDeleteTAke a look at GLNG
Break out and more to come
the chart is the best yet
Oh they are into LNG shipping to China and japan000they can not get enough of it.....
THoughts?
Hey c,
ReplyDeleteI've been looking at LNG plays for a bit trying to figure out the best way to play it. GLNG, LNG, GTLS, and WPRT/CLNE are some of the positions I'm considering. Any of the transport-related ones have really moved recently so I am cautious, but interested!
Stocktrader
Hi Up,
ReplyDeleteThanks for your take on SPY & your feedback.
Hopefully, we are setting UP for good things to come very soon......
Saleem
Stocktrader
ReplyDeleteIi is always hard to figure the market
Look I sell APPLE on monday and today it pop
Up $8.
My Call at $365 is up $5.50 so you can not outfox the market.
I got some GNK --chart is very healthy.
I guess we got a Spanish push in our market?? Do not know the reason for our move up but it is good news- Or a Hedge fund move???
C