Fed said " economy has been expanding moderately", "some apparent slowing in global growth"
These word of wisdom did not translate into positive action in markets, markets are mixed currently.
Gold Down $11.20
Oil UP $2.36
Canadian $ Down 45 tick @ 96.88
VIX Down 2.88% @ 24.93 ?????
Portfolio is BIDU,CNQ,LVS,LULU,M,RIMM,RVBD,SNDK.....
Most stocks are down
@ 2.56 following are green :
SNDK,APKT,SU,GOOG,MS,IBN....
BLOG does NOT give buy or sell.
Saleem
Phew
ReplyDeleteWhat a sell off
Hmmm
best to all
C
Hi C,
ReplyDeleteThere goes my Fed trigger for rally ?
Saleem
Saleem,
ReplyDeleteI think FED's statements were not so bad. However, the OE week of the month was a major factor in this sell off.
My portfolio: M, LULU, BIDU, CLF, RVBD... They all got beaten badly, but I am holding steady.
Michael
Hi Michael,
ReplyDeleteI sold BIDU...rest of the portfolio is as is.
YES..you may be right about Quad witching expiry on Friday.
Hopefully better Wed....
Saleem
Saleem'
ReplyDeleteTake a look at AVON
Huge spike on the news of CEO being relieved of title.
Avon up .50 cents already
thoughts
C
Hi C,
ReplyDeleteDo not follow "avon calling"
Saleem
Saleem,
ReplyDeleteDo you think there is more downside risk on BIDU than others due to a slowdown in China?
Michael
This comment has been removed by the author.
ReplyDeleteHi Michael,
ReplyDeleteBIDU TAPE has been relatively weak like PCLN.....
BIDU was not moving UP on days when other stocks were taking turn...even today, BIDU went red by $2+ when markets were green & strong......
BIDU may not go down much ..but may stagnate like it has done for a month....Reason for a weak BIDU TAPE may be Chineses economy.....
Saleem
Saleem
Saleem thanks
ReplyDeleteFor comment on Avon
BIDU should have performed better
I read that add revenue was down??
Dunno why however or it true
best to all --- still holding BIDU
Saleem,
ReplyDeleteThanks for your assertion on BIDU. I will hold it through the market turmoil. I though you said that you would sell M after FED's statements? Will you hold RIMM through ER? Thanks.
Michael
Hi Michael,
ReplyDeleteWhen you ask me a question, then i reply based on how i feel @ that particular moment.
First, i said i MAY sell M after fed statement....
IF you have been reading my expectations of "fed statement"..it was "for market to go UP" in that scenario "i had a sell order already in place @ $1 higher than where M was trading"
After Fed statement..we all know what happened..market went down NOT UP.....
My sell order on M expired unfilled.......
I have never "indulged in ASSERTION"..i follow the TAPE in most cases......unless i have a long term view......
RIMM.... IF it is HIGHER than my cost..i will sell....before or after earnings.....that is what i TRY to do as my "trading style"
As a "courtesy" i told you that i sold BIDU..otherwise i would have waited till my closing BLOG around 10 PM.......
Saleem
Saleem,
ReplyDeleteI appreciate that you informed me in advance of your BIDU sell, so if I wanted I could get out AH. Many times, I wished I would know this but it was too late after reading your blog at 10pm. Because I did not ask, I missed many opportunities in the past. Thanks again for that.
For M, I just asked that question to understand if you know something that changed your mind since I was holding M and waiting for a chance to get out as well after weak retail report this morning.
Michael