Thursday, January 12, 2012

Indices closed UP .17% to .51%.......NICE !!!!!

Indices were under pressure from open due to US economic data, although European Bond auction went well.

After struggling initially indices crawled back UP by close.

Again, close was more than impressive.

Internals were :

UP volume led by 1.51 to 1 in NYSE & 1.95 to 1 in Nasdaq

Advancing stocks led by 1.58 to 1 in NYSE & 1.61 to 1 in Nasdaq

New 52 wk highs were in the lead again, 96 in NYSE & 61 in Nasdaq

VIX closed down 2.71% @ 20.48, we may see 19 on Friday.....

Oil closed @ $99.10, it did a U turn on EU delay on Iranian embargo by six months.

Gold closed @ $1647.70

S&P 500 closed @ 1295.50, which is the highest close since August 2011.RSI @ 64.66

Market is closed on Monday, so it is important to look @ your exposure to this strong market on Friday. Friday is weekly Option Expiry, expect some bullish firework.

Stocks which were UP 1% or more included RIMM,
AUY,CLF,FCX,GG,MPEL,LULU,QCOM,V,TSL,
CIEN,C,SCCO,OCZ,TCK,MGA,WPRT.

AH Futures Mixed

AH Asian Markets UP

AH Oil UP

AH Gold Down

BLOG does NOT give buy or sell.

Saleem
at

29 comments:

  1. cJanuary 13, 2012 at 5:32 AM

    Saleem

    Good Morning to you and all bloggers!


    Good market review

    We had a nice close yesterday
    I am looking at a new stock AMT; telephone towers!
    this may be the next biggie? thoughts guys

    So far my only stinky is TOT and IVR
    GNK is making a slow come back.

    I gotta love your CMG it is amazingly strong....
    Congratulations --I guess you get the award for
    2012 for best stock pick\\Gold is down again --hmmmm.
    pre market is red
    C

    ReplyDelete
  2. Stocks100January 13, 2012 at 5:39 AM

    Hi C,

    Thanks for first 12 day award of 2012.....

    Today is Friday the 13th.....i was born on 13th...can't be bad for me?

    IF something is NOT working then "IT DOES NOT FIT" so you MUST ACQUIT as per Johny Cochrane....

    Saleem

    ReplyDelete
  3. cJanuary 13, 2012 at 5:58 AM

    SALEEM

    Happy Birthday to you

    oh
    as to TOT and IVR stinkers--they pay so well that I may just hold them for the 2012 year..

    Any thoughts on AMT??

    Have a good BD and a great weekend Monday closed so a good holiday to you too

    ANy specials plans for your BD?
    C

    ReplyDelete
  4. Stocks100January 13, 2012 at 6:05 AM

    Hi C,

    Today is NOT my birthday..you know i am a TAURUS.....i was born on 13th day of MAY...200 years ago?

    About AMT..chart looks pretty extended..RSI @ 66.51.....but a good stock.....

    There may be some room in RSI to 70 area?

    Saleem

    ReplyDelete
  5. cJanuary 13, 2012 at 6:34 AM

    Saleem

    April fool me.... :)

    thought with out thinking about Taurus the bull..

    SO trash my BD card __I was thinking how could be a Taurus with a January BD....Ha ha

    Have a 200 YR BD any way ha ah

    Wow lok at CMG us $4 smackers--Whooo Hou
    C

    ReplyDelete
  6. Stocks100January 13, 2012 at 6:34 AM

    Hi C,

    Appreciated your "early birthday wish" with beautiful GRAPHICS..i have saved it in my personal file.

    Thanks!!!!

    Saleem

    ReplyDelete
  7. stocktrader_1996January 13, 2012 at 6:39 AM

    Hey Saleem,

    Bought AGU 73.55. Looking to allocate into some SWC by close unless something else looks good.

    Stocktrader

    ReplyDelete
  8. Stocks100January 13, 2012 at 6:41 AM

    Hi Stocktrader,

    AGU is "relatively stronger" in AG sector..good choice & good price !!!!

    Saleem

    ReplyDelete
  9. stocktrader_1996January 13, 2012 at 6:47 AM

    Hey Saleem,

    Picked up the SWC at 11.55. It's chart is not as good, but I'm really excited about the palladium metal with surging car demand around the world, and this is my way to play.

    Stocktrader

    ReplyDelete
  10. Stocks100January 13, 2012 at 6:48 AM

    Hi Stocktrader,

    Can you give me your analysis of SWC.....not familiar @ all.

    Saleem

    ReplyDelete
  11. cJanuary 13, 2012 at 6:54 AM

    SALEEM

    here is a quick over view of SWC:

    Stillwater Mining Company is engaged in the development, extraction, processing, refining and marketing of palladium, platinum and associated metals (platinum group metals (PGMs)) from a geological formation in south central Montana known as the J-M Reef and from the recycling of spent catalytic converters.

    ReplyDelete
  12. Stocks100January 13, 2012 at 6:57 AM

    Hi C & Stocktrader,

    Thanks for your take on SWC....my question for stocktrader is..how does it compare to PAL in terms of your read....

    Saleem

    ReplyDelete
  13. stocktrader_1996January 13, 2012 at 7:08 AM

    Hey Saleem,

    SWC is the only US PGM (Platinum Group Metal) miner with operations in Montana. Palladium and platinum are the primary mined products with a cash cost around $450. With palladium at around $630, you can see how the leverage to the metal prices is so high. It reported better production numbers than anticipated last quarter. It made a recent acquisition of a small company in South America that will take significant resources to develop the mines, but is copper rich and represents both a huge long-term value at these copper prices and a diversification to that metal in the long run.

    I hope this is helpful :).

    Stocktrader

    ReplyDelete
  14. Stocks100January 13, 2012 at 7:11 AM

    Hi Stocktrader,

    Excellent recap of SWC business model.

    I have SWC now in my Top 18 watch list.

    Saleem

    ReplyDelete
  15. stocktrader_1996January 13, 2012 at 7:13 AM

    Hey Saleem,

    PAL's management has gone down the route of further exploration in lieu of current production. They have the better PGM deposits by far, but are further off from developing those resources. I almost think they are trying to "shop" the company by showing off their reserves through exploration, but it could be just trying to determine where exactly to mine in the future for the best capture.

    I have owned both stocks but left PAL mostly because the story will take longer to play out, and it doesn't follow the general market trend as closely, making it more difficult to trade, but the long term value is definitely there.

    Stocktrader

    ReplyDelete
  16. Stocks100January 13, 2012 at 7:15 AM

    Hi Stocktrader,

    Thanks for PAL summary.

    Saleem

    ReplyDelete
  17. stocktrader_1996January 13, 2012 at 7:16 AM

    Hey Saleem,

    I almost forgot, PAL is a Canadian company with mines in Canada, so it is exposed to currency fluctuations.

    Stocktrader

    ReplyDelete
  18. stocktrader_1996January 13, 2012 at 7:45 AM

    Hey Saleem,

    I decided on GHDX that I won't have enough patience for it. I'll look again in the summer when small caps tend to be sluggish and it'll be closer to the trial results.

    Stocktrader

    ReplyDelete
  19. Stocks100January 13, 2012 at 7:50 AM

    Hi Stocktrader,

    Biotech is tough for me.

    Saleem

    ReplyDelete
  20. cJanuary 13, 2012 at 8:48 AM

    SALEEM

    IBD has CMG as the most Mutual Funds buying volume up
    Wow a good sign for more upside

    C

    ReplyDelete
  21. Stocks100January 13, 2012 at 9:10 AM

    Hi C,

    CMG is @ all time high today.

    Saleem

    ReplyDelete
  22. stocktrader_1996January 13, 2012 at 11:04 AM

    Hey Saleem,

    I sold CLF at 69.86 this afternoon on the back of the PCX warning--it seems like this could be a challenging quarter despite PCX not being exactly best-of-breed. I'm looking to add to some of my other holdings or re-initiate a position in RVBD.

    Stocktrader

    ReplyDelete
  23. Stocks100January 13, 2012 at 11:08 AM

    Hi Stocktrader,

    Sell based on rationale is a sound strategy.

    Good luck with your replacement of CLF.....

    Saleem

    ReplyDelete
  24. stocktrader_1996January 13, 2012 at 11:21 AM

    Hey Saleem,

    I ended up adding to SWC at 11.35, GLNG at 41.83, and MET at 35.00.

    Stocktrader

    ReplyDelete
  25. stocktrader_1996January 13, 2012 at 12:11 PM

    Hey Saleem,

    I guess I should have added a little more AGU--wow! It was already up some and I thought I could get some better bargains elsewhere...

    Stocktrader

    ReplyDelete
  26. cJanuary 13, 2012 at 12:26 PM

    SALEEM

    IS it time to sell LVS

    Nice move today
    C

    ReplyDelete
  27. stocktrader_1996January 13, 2012 at 12:31 PM

    Hey c,

    I don't think you sell strength today given the weakness in the overall markets (albeit well off lows also). Anything strong today is likely worth keeping as it exemplifies the underlying demand for the stock well.

    Stocktrader

    ReplyDelete
  28. Stocks100January 13, 2012 at 1:11 PM

    Hi Stocktrader,

    Good luck with your add on.

    Well.... we all have faced i should have, could have & would have....

    Saleem

    ReplyDelete
  29. Stocks100January 13, 2012 at 1:12 PM

    Hi C,

    PATIENCE my friend....this is a very strong BULL MARKET....go with the flow on LVS....

    Saleem

    ReplyDelete