Wednesday, January 11, 2012

Indices Mixed.......

Indices are mixed with Nasdaq green, while Dow & S&P 500 are down.

Internals are positive.

New 52 wk highs are in the lead.

Fed beige book noted improvement in economy.

Oil Down 72 cents

Gold UP $8.80

Canadian $ Down 32 tick @ 98.12

VIX UP 2.13% @ 21.13

In my portfolio :

Bought CNQ @ $38.19

Portfolio is AMZN,CNQ,CMG,COH,LVS,RIMM,RVBD

Exposure 125%

Most stocks are UP

@ 2.33 following are down :

AMZN,CNQ,COH,FIO,AUY,SU,GG,AAPL,PCLN,M,
QCOM,BWLD,MA,V,TLM,SLW,APKT,SNDK,OTEX,
ECA,NVDA,EGO,AEM,BJRI,KOG,SNE.....

BLOG does NOT give buy or sell.

Saleem
at

9 comments:

  1. stocktrader_1996January 11, 2012 at 11:53 AM

    Hey Saleem,

    Sold BAC and SWC today. This leaves me with just over 25% cash for future opportunities.

    Stocktrader

    ReplyDelete
  2. Stocks100January 11, 2012 at 12:01 PM

    Hi Stocktrader,

    Good move in booking profit.

    GLNG volume is a concern?

    Mining stocks are strong.

    Saleem

    ReplyDelete
  3. stocktrader_1996January 11, 2012 at 12:10 PM

    Hey Saleem,

    Thanks for watching out for me in GLNG--it is definitely a concern and something I have looked at all day. I guess I've come to the conclusion that a lot of the breakout traders got flipped upside down today and most of the high volume occurred near the lows. I see this more like a capitulation move than the start of something. How it closes will be important, and I still like the earnings power potential this year. I definitely don't see an urgent need to sell it down 8% already today.

    As you noted, the mining stocks are strong today...except for SWC. This factored into my decision to sell that one.

    Stocktrader

    ReplyDelete
  4. Stocks100January 11, 2012 at 12:18 PM

    Hi Stocktrader,

    Every stock is based on conviction, GLNG seems to be high on your conviction scale.

    Good luck with GLNG & other position.

    Saleem

    ReplyDelete
  5. stocktrader_1996January 11, 2012 at 12:22 PM

    Hey Saleem,

    I am convicted about GLNG's earnings power, but I am uncertain about what multiple to place on it. That is why it is one of the smaller positions in my portfolio, but also why if it drops like this, it actually makes me more comfortable, not less.

    Stocktrader

    ReplyDelete
  6. cJanuary 11, 2012 at 12:42 PM

    Saleem

    GREAT call on CMG

    awesome move up!!

    Smile

    ReplyDelete
  7. Stocks100January 11, 2012 at 12:46 PM

    Hi C,

    Thanks for your comment on CMG.

    It is nice to have ones largest holding make a move...very next day!!!

    Saleem

    ReplyDelete
  8. cJanuary 11, 2012 at 1:46 PM

    Saleem

    I got some CNQ..... hoping for a nice pop here.

    Hurray! hurah!!!!!!!\\:)

    Did you see the action in BGS---food is hot --nice :)

    c

    ReplyDelete
  9. Stocks100January 11, 2012 at 2:14 PM

    Hi C,

    Good luck with CNQ.

    Saleem

    ReplyDelete