Indices were mixed today, with Dow showing weakness & S&P 500 also in red.
Nasdaq closed green & many leaders were green......
S&P 500 closed @ 1316.32, low being 1311.72
RSI 65.11, CMF 0.430
RSI in Nasdaq 71.24 & in Dow 62.43
RSI variance in indices can be a concern, either strongest will pull rest UP or the weakest generally pulls strong down?
Internals were positive.
In my portfolio :
Bought AMZN @ $193.01
Portfolio is AMZN,OTEX,RIMM, RVBD
Here is % weighting of my portfolio as of tonight :
RIMM 34.09%
OTEX 27.53%
RVBD 22.51%
AMZN 15.87%
Exposure 96%......
RVBD was kept in the portfolio, as i felt selling was unjustified, as company is backing consensus year end projections for 2012. Looks like Q1 is weaker but Q2 should make up most of the difference.
RVBD opened @ $23.95 went down to $22.93, closed @ $24.45. 50 DMA is $25.92. Volume was 5 times average @ almost 31 million. RVBD closed Down 17.15%. It impacted my portfolio which ended the day down 3.49%...not bad factoring RVBD.
RIMM was UP 3.2% today, on confirmation of my theory that the new independent Director Prem Watsa has increased his stake in RIMM from 2.25% to 5.12%......he is the 2nd largest shareholder after a mutual fund Primecap Management which holds 5.54%. Jim Balsillie holds 5.09% & Mike Lazaridis holds 5.05%......Prem stake in RIMM stands @ $450 million..no chump change. Prem was buying when Jimmy the Cramer was telling whole world, RIMM is no good around $14.50????
About market, Dow has golden cross, S&P 500 is ready to make a golden cross while Nasdaq will be the last to do it. Nasdaq strength today is very encouraging.
Stocks which were UP 1% or more included ,AMZN,RIMM,
GOOG,LVS,AGU,MOS,LULU,M,JCP,BIDU,AUY,GG,
NTES,APKT,TSL,MS,C,ARUN.....
Please note, that i keep changing stocks which i monitor, any
omission is not by design.
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
Current portfolio:
APKT - 12.0%
CF - 11.8%
OCZ - 11.8%
GLNG - 11.6%
WWWW - 10.6%
GHDX - 9.7%
WPRT - 9.3%
AAPL - 9.0%
COH - 8.3%
GWMGF - 3.1%
APWC - 2.5%
(cash) - 0.2%
It was another great week. My portfolio is pretty much where I want it also, with not too many stocks on my radar currently for potential purchase. WPRT is the only one really stretched technically, but I wanted some type of core holding given I think the news flow will continue to be positive.
Have a great weekend!
Stocktrader
Hi Stocktrader,
Thanks for your stock weighting, great info for many.
Enjoy your weekend.
Saleem
Salleem
and all --here is the definition of Golden Cross:
The bullish folks at Birinyi Associates have sent out not one but two bullish notes today.
The first points out that the S&P 500 has gained more than 20% in the past 78 trading days, a phenomenon seen 15 times since 1945. On average, they say, the market has gained 6.96% in the six months after those episodes and fallen only twice in those 15 instances.
The second notes that the S&P 500′s 50-day moving average is about to cross above its 200-day moving average, a blessed event known as the Golden Cross, which is the polar opposite of the (occasionally) nightmarish event known as the Death Cross.
There have been 26 Golden Crosses since 1962, Birinyi notes, and stocks have been higher 81% of the time in the six months after those events, for an average gain of 6.6%.
Any way good luck to all.
C
Hi C,
Have you noticed that, i talk about some key events FIRST..then the big guns follow?
Saleem
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