Indices closed green, which is a major victory in current negative environment.
Internals were mostly positive as follows :
Up volume led by 1.78 to 1 in NYSE & .99 to 1 in Nasdaq
Advancing stocks led by 1.68 to 1 in NYSE & 1.44 to 1 in Nasdaq
VIX closed down 3.57% @ 25.11
Oil closed @ $93.87
Gold closed @ $1577.20
Stocks which closed green included CNQ,LULU,M,RIMM,
CLF,PCLN,NTES,FFIV,BWLD,GOOG,TSL,AMZN,JCP
FNSR......
ER were greeted as follows :
ADBE UP 5.56%
ACN Down 2.55%
DECK Down 9.55%
RIMM Down 7.53%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
17 comments:
Saleem
When you wanted to look at the word depression, you will see it in RIMM. With a price like that, who could resist not to buy at this level. I am started to buy now for short term trade or even long term hold. If this is not the bottom, I think we are very near it. Good luck on your holdings
Hi Up,
Very rarely stocks are mispriced so badly.....
Good luck.
Saleem
Hey Saleem,
Just picked up some ZNGA at 10.91--wow!
Stocktrader
Hey Saleem,
...and five minutes later that's an "oops!"
I've been waiting for this IPO for months and it can barely hold the IPO price--sad story...
Stocktrader
Hi Stocktrader,
This market is driven by HF..unless they are behind a stock, its hard for it to go UP.
It may be a good idea to cut your loss quickly on ZNGA.
Saleem
Hey Saleem,
I have to hold three days at least or I penalize my entire portfolio for three months.
I still believe in the story of social gaming--maybe good things will happen after this negativity resolves...at least they are making money--better than most high-tech IPOs.
Stocktrader
Hi Stocktrader,
I forgot about your 3 day hold.
Saleem
Good afternoon to you Saleem and All
Please provide your thoughts on AUY
WOW it is so over sold and Gold is coming back??
Good Luck on RIMM -- it has a good story
regards to all
C
Hi C,
AUY @ current price is a good buy.
Gold & AUY both deeply oversold.
Saleem
Hey Saleem,
Bought 120% more of ZNGA at $9.25--my avg price is now around the IPO price so I feel like I'm on equal footing with the big guys now! :)
ZNGA is still only around a 0.7 position in my portfolio so I can't get hurt too bad...sold ULTA at around $68 and $67 to accomodate the purchases (bought some extra OCZ with the rest of the money that didn't go to ULTA).
Stocktrader
Correction: Bought some OCZ with the extra money that didn't go to ZNGA from the ULTA sell.
Hi Stocktrader,
Your second 120% in ZNGA makes strategic sense.
You are above 2nd set purchase.
OCZ is behaving better than market. It is building a nice base @ current level....
Good luck.
Saleem
Hey Saleem,
I'm really tempted to pick up a little STEC with the same thesis as the OCZ, but the technicals just don't line up as well. I think the washout guidance STEC provided allows for more upside--I'll have to revisit the story this weekend...
Stocktrader
Hi Stocktrader,
Your OCZ CMF just turned GREEN....
It is above major uptrend line.
STEC has been a perpetual downer..but i realy do not follow that company...
Saleem
Hey Saleem,
The nice gains in my two largest positions (SWC, WWWW) easily engulfed the losses on my social gaming debacles (ERTS, ZNGA).
It feels good to outperform for a day! :)
Stocktrader
Hi Stocktrader,
All my stocks could not erase my losses from RIMM..ended down 1.2% on the day....no complaints considering RIMM was down 11.17%...
I am glad you are staying ahead of the game....shall join you soon !!! NOT Jamaica soon....
Saleem
Hey Saleem,
It has been mostly brutal for days in my stocks which tend to be higher beta and smaller cap. But today, even my stocks like RVBD, LNG, and JKS reversed higher to close in the green after spending decent amounts of time in negative territory.
Looking for better days soon...:)
Stocktrader
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