Monday, December 19, 2011

Indices closed down .84% to 1.26% in lowest volume.......

Indices followed a "familiar pattern" by opening higher & closing near lows of the day.

S&P 500 low today was 1202.37, closing @ 1205.35...RSI 44.28

Internals were :

Down volume led by 9.96 to 1 in NYSE & 5.73 to 1 in Nasdaq

Declining stocks led by 3.67 to 1 in NYSE & 3.28 to 1 in Nasdaq

New 52 wk lows were in the lead, 117 in NYSE & 157 in Nasdaq

All of the above in extremely low volume ?

VIX closed UP 2.59% @ 24.92

Oil closed @ $93.38

Gold closed @ $1596.70

AH RHT Down 8.36%, S UP 6.48%

As to the market analysis, we are due for a technical rebound, after being sold from 1267.06 to 1202.37. We went down 64.69 points or 5.11% in 8 trading day's.......

In this technical bounce, i am expecting us to go through 50 DMA which is 1229.77, then to 1256 area...this will be a gain of 4.49%...it will be PRUDENT to reduce exposure in that area...I am CERTAINLY planning to do just that....i am expecting a very difficult & grinding many months, until end of Sep 2012.

I also try to do comparative analysis, especially on my "most speculative" position which is RIMM, & see IF it can be kept until "profit objective is achieved"

Here is how RIMM is stacking up as of tonight, from Yahoo Finance latest consensus numbers :

AAPL EPS $34.76, Price $382.21 PE 11.00

NOK EPS 33 Cents, Price $4.51 PE 13.67

RIMM EPS $3.32, Price $12.89 PE 3.88

I am hoping that, with time & few good news, RIMM PE will expand towards competitors.

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

BLOG does NOT give buy or sell.

Saleem

21 comments:

stocktrader_1996 said...

Hey Saleem,

I am really tempted to pick up some RHT here but would have to sell something like FCX, RVBD, or EA. Separately, I'm also considering APKT due to telecom capex resurgence now? What do you think of both ideas and swap candidates? Thanks!

The market looks great this morning, and WWWW initiated Overweight at JPM with $18 PT! :)

Stocktrader

Stocks100 said...

Hi Stocktrader,

RHT will be a great swap....

APKT is beaten down big time.....

I may get into one of them @ open.

Saleem

Stocks100 said...

Hi Stocktrader,

I am going with AUY @ open....

Saleem

stocktrader_1996 said...

Hey Saleem,

I swapped out of FCX at 36.92 and got APKT at 31.39915. I wish I'd gotten a 30.xx price on APKT, but if I have to pull a switch move, I can't act immediately upon open.

Good luck with AUY--it is highly beaten up too!

Stocktrader

Stocks100 said...

Hi Stocktrader,

APKT is flying today.....

Saleem

Stocks100 said...

Hi Stocktrader,

Bought APKT @ $31.20......skipped on AUY....

Saleem

c said...

Good MOrning to all

I got some AUY

Gold is good!!!!!!!!!!
FCX ands SCCO are a rocking today

APKT is a Great choice here! Dunno if I like it better than AUY though?

My oil plays are hot today
KMP, EVEP TOT MWE

APKT is at $31.38 as I speak

regards....

Stocks100 said...

Hi C,

I see MORE of an upside in APKT than AUY...that is why i cancelled my buy on AUY & went for APKT....

Saleem

c said...

SALEEM

YOu made a good pick

AUY was so under priced00I had to get me some
Yum

Got in at $14.50
Best to you, as always
C

c said...

SALEEMm
Looks like are two picks are off to the races

AUY is not up .23 cents for me
betting on $15
Your APKT is over taking my AUY --hmmm
C

Stocks100 said...

Hi C,

AUY & APKT are UP nicely.....

Saleem

Michael said...

Saleem,

It seems that when our sentiment was down and when market was at bottom, then there always was a good news for market to rally. Is it coincidence? Anyway, I am so happy with today's rally. Hopefully, it will continue until the end of this week :).

I just added in more RIMM at 12.5. I don't know what should be the good strategy for RIMM?

Michael

stocktrader_1996 said...

Hey Saleem,

There are so many great companies on sale that I don't know how to participate in all of them! I am trying to buy some GLNG, but I can't find anything to sell...

Stocktrader

Stocks100 said...

Hi Michael,

Well..we were due for a technical bounce.

RIMM has to be viewed as long term speculation.

RIMM probably will be my last 4 going into 2012.

Good luck with your add-on.

Saleem

Stocks100 said...

Hi stocktrader,

HINT..trim some of your "overweight" & buy good one on sale.....

Saleem

Up said...

Saleem

I hated this market, I would like to see index going up little by little, not bounce from oversold to overbought in one day. Now i just hope we have enough juice to push us till the end of year

stocktrader_1996 said...

Hey Saleem,

My only overweights are WWWW, SWC, and OCZ. WWWW I am never selling, haha. SWC is my only direct commodity exposure at the moment. I would be ok selling some OCZ, but I'd like to see it rebound a bit more first after yesterday's washout.

I guess the analysis was good to tell me that I'm mostly happy with my current positions, so I'll just have some "radar" stocks for now.

Thank you for the challenge to look carefully at my current portfolio composition--I'll be on the lookout for swap possibilities! :)

Stocktrader

Up said...

Michael

Blackberry is a household name, just like APPL was when they are in trouble before JOB been hired back to run the company. So I think RIMM is a keeper, I will buy more if price go down a little more

Stocks100 said...

Hi Up,

This is an "extremely volatile market"...which benefits traders who are "in"......

I do not believe that this trend will change anytime soon......

This will be a "news driven" market everyday ?

Saleem

c said...

SALEEM

Good after to all

WOW did I ever miss the home builders today

Finally some love from BIDU. PFE is ho0t again --gotta love the drugs for now!

RIMM is a stock that I do not know well enough to buy at this point-I will follow it however...-APPLE was a huge bet for me and the option spoiled that one for me--no more apple

Nice action today on LVS and LULU.
APKT backed off from it high-----hmmm

Best to all

Stocks100 said...

Hi C,

There are 19,000 stocks listed in US Exchange......nobody can or should buy every stock.....even Warren Buffett has few stocks.....

Thus we all are bound to miss many good stocks on a daily basis....could have, should have or would have is everbodys story????

Saleem