Indices are down sharply on many reasons, Moody's is renewing its negative take on European deal, INTC revenue warning is added concern today.
Due to Thailand flood, expect many companies to warn.......
European countries have made substantial progress last week, which is being ignored today by organized negativity?
S&P 500 went to 1227.25 @ its low point so far......
RSI @ 49.91
Internals are negative by 5 to 1
Oil Down $1.45
Gold Down $48.20
Canadian $ Down 1.04 cent @ 97.39..due to risk off
VIX UP 3.64% @ 27.34..pretty tame, good for stock bulls......
Portfolio is BIDU,CNQ,LVS,LULU,M,RIMM,RVBD,SNDK....
Most stocks are down
Inverse stocks are UP
BLOG does NOT give buy or sell.
Saleem
14 comments:
SALEEM
Di ya think we may have a strong close--market seems like it whats to go green! Maybe
thanks
Hi C,
YES..better close ..maybe near high of the day $$$$$$$
Saleem
SALEEM
I have 200 shares of MCD-it turned green
It is looking for !00 , IMHO
APPLE is nose diving on me
C
Hi C,
IF..i was making a decision on AAPL call...i will sell before market close on Wed......
Saleem
SALEEM
thanks again for your feed back
Appreciate it
C
Hey Saleem,
I can't believe how low the $VIX is with the market down 180 pts, especially given that Fridays are usually artifically depressed due to the weekend effect.
Stocktrader
Hi Stocktrader,
VIX is low with dow down...because "smart money" is playing games with this market...
We are going to be UP huge after Fed take @ 2.15 Tuesday...that is why?
Saleem
Hey Saleem,
I've given up trying to guess which way we're going. I thought the Friday would be the disappointment and instead we rallied. I thought today would be follow-through and instead we drop. I'm just sticking with my good companies for now, believing that they can outperform the market, and also having an overall positive sentiment toward the general market in the short-medium term (just can't tell day-to-day).
Stocktrader
Hey Saleem,
If I had to guess on the market "save", I would guess Chinese monetary policy easing. Their economy is getting too near the edge to not take action.
Stocktrader
Hi Stocktrader,
Tommorrow is Fed statement @ 2.15...biggest reasin for short covering........
Chinese easing generally is announced on Sunday night..far far away....
Saleem
Hey Saleem,
I don't know the market reaction to the Fed, but I think pretty much everyone expects them to say they are staying put for now as economic activity is moderately positive but they are willing to act if conditions worsen? I guess I'm expecting maybe a non-event Fed--I'm more focused on the Chinese market's 2-yr low last night...
Stocktrader
Saleem,
Thanks for your inspiring Sunday blog. It seems that good stocks still performed well today: SNDK, LULU, MCD... Just named a few. I still believe Santa Claus rally is imminent. I am 120% exposure and not worry much.
Michael
Hi Michael,
Thanks for your feedback.
I am very comfortable with my "over-exposure" in this market.
I am glad that your comfort level is high also.
Saleem
Hi Stocktrader,
I am expecting Fed to "change" some of their wording in their statement...which will be taken as US economy is on the right track....change from "fed is worried"
Saleem
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