Italian politics took an ugly turn when outgoing Prime Minister is insisting for a new election instead of coalition ruling & speeding budget controls. Italian election could take as long as Feb 2012, this will create huge uncertainty.
German & French leaders are not happy with this development & calling for a two tier European Union, only strong economy will be part of Euro.
Indices are down in 3% range
Internals are negative from 5 to 1 to 9 to 1
S&P 500 low so far is 1229.95
Oil down 41 cents
Gold down $5.50
Canadian $ down 99 tick @ 98.13
VIX UP by 27.69% @ 35.09
Portfolio is CSIQ,MS,JCP,POT,PCLN,TLM
Majority of stocks are down.......
All inverse ETF are UP
BLOG does NOT give buy or sell.
Saleem
10 comments:
Hey Saleem,
Sold my ACI and CTSH to buy some shippers FRO and GNK--they are acting pretty well in this horrible tape.
Staying alive...hopefully?
Stocktrader
Hi Stocktrader,
Extremely tough day today, most stocks are down sharply...sea of DEEP RED......
Good luck with your swap !!!!!
Saleem
Hey Saleem,
I am also looking at WTW for future investment--my wife's parents are really into it and the revenue growth looks on track despite the fears of the increased ad spending projected for next year. Any thoughts on this one?
Thanks in advance :).
Stocktrader
Hi stocktrader,
WTW RSI @ 44.58.....$63.53 is 50 DMA...IF you can get slightly above that....it could be a good price.....already below 200 DMA...
Saleem
SALEEM
What a sell off I headed for the hills
Bought EVEP and PPL.
It is way late to do any swapping for me
My BGS is doing oh so good.
Not much else to say to you all , Did not buy Ford...
Hi C,
Markets are in DEEP RED...400 Dow points is painful...
I am staying put so far...but day is not over.
Good luck with your portfolio.
Saleem
Saleem,
what is your assertion with today's drop? Do you think it is an opportunity for someone who is underweight or need to wait for more days to see the direction? Thanks.
Michael
Hi Michael,
IF you are underweight, you should increase your weighting with strong stocks.
Today was a reaction to Italy "surprise".....
Good luck !!!!
Saleem
Saleem,
I am currently 60% exposure with CLF, FCX, POT, RVBD, and MS. What other stocks do you think it is strong based on today's tape? I like PCLN, however, I will need higher capital to invest in PCLN. Thanks.
Michael
Hi Michael,
LVS,LULU,BIDU looks good to me.....
Saleem
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