Indices are celebrating Black Friday Sales & positive development on Euro rescue plan.
Indices were also deeply oversold, which is adding fuel to bullish fire.
Internals of the market are as follows :
UP volume leading by 50.92 to 1 in NYSE & 11.01 to 1 in Nasdaq
Advancing stocks are leading by 6.98 to 1 in NYSE & 5.7 to 1 in Nasdaq
VIX Down 5.57% @ 32.55
Oil UP 80 cents
Gold UP $24.70
Canadian $ UP 1.25 cent @ 96.78
In my portfolio :
Bought AUY @ $15.14, its my second largest position.
Portfolio is BIDU,CNQ,CLF,LVS,LULU,PCLN,RVBD,AUY.....
Most stocks are UP
Inverse ETF are down.
BLOG does NOT give buy or sell.
Saleem
14 comments:
S
AUY is good and green
Good for you
C
Hi C,
Thanks for your comment on AUY.
GREEN IS GOOD $$$$
Saleem
Saleem
Today's volume is kind of light for an uptick market. We are trading in a very tight range, plus 50DMA is around the corner. So do you think we are going to have a V bounce or just a relieved rally. I got some AMZN for cyber Monday play and will sell before close
Hi Up,
YES...volume is very light...but sometimes rally starts that way.
I will be able to better analyze after we close......
I think rally is safe until 1225 area...
AMZN is a great play for syber Monday sales.
Saleem
Hey Saleem,
I hope your weekend was great! I spent a lot of time with family and friends and it was nice.
I am looking to sell something by the end of the day to buy AAPL. My likely candidates are CLF, SWC, or ACI--any suggestions? (if I can actually pull the trigger)
I would also like to add to COH or RL on a pullback.
Stocktrader
Hi Stocktrader,
Time spent with family & friends creates memories, which stays with us.
COH is a great buy.....
About sell, CLF is my first venture & have not studied the group closely...i guess you need to go with your analytical expertise to pick a sell.
Saleem
Hey Saleem,
I've chosen ACI. I think steam coal could continue to suffer as natural gas prices keep falling. That makes ACI's earnings estimates most at risk I believe in addition to the recent mining delays.
Stocktrader
Hey Saleem,
Argh, the slow site and double/triple confirmation screens made me miss almost a whole point in AAPL--originally was going for $375.25 and ended up with $376.11 right at close after chasing for 2+ minutes :(
I wanted to make sure to get in prior to any PT upgrades based on holiday sales.
I feel we are nearing the effect where you can't have any losers in the portfolio for year-end so I feel that underperforming stocks could continue to underperform even if their fundamentals are now improving.
Stocktrader
S
Look out another down grade coming???
Yeks
Great play for Amazon ---cool
\
C
Hi Stocktrader,
I agree with your thesis of going with the TAPE.....
Good luck with AAPL !!!
Saleem
Saleem,
Thanks for your Sunday market analysis.
I was upset this morning because my original flight was cancelled due to fog at the destination. However, I am happy with the with the decent close. I think, we will see the biggest squeeze coming, since good sale result on black Friday and no one want to miss out the Santa Claus rally.
110% exposure and holding.
Michael
Hi Michael,
Welcome to 100%++++ club.....
I am @ my HIGHEST exposure since 2009......pretty close to 150%....
There is a very good chance that this rally is for real.....
Good luck with your portfolio.
Saleem
Hey Saleem,
The biggest single reason why this rally could be for real is that no one believes it! :)
Stocktrader
Hi Stocktrader,
Most of the biggest rally starts when no one believes it...seen many times before....
Saleem
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