Monday, January 23, 2012

S&P 500 closed UP today......NICE !!!!!

Indices were struggling today due to overbought condition.

S&P 500 closed @ its highest point today in this UP move.

Internals were positive in NYSE, Nasdaq was negative

52 WK highs were in the lead 133 in NYSE & 50 in Nasdaq

RSI @ 69.09

CMF 0.452..started to tilt south....

Oil closed @ $99.58

Gold closed @ $1678.30

VIX closed UP 2.13%  @ 18.67

Stocks which were UP 3% or more included CNQ,
LVS,LULU,SLW,TLM.....

In my portfolio :

Sold CNQ

Bought RIMM twice, last set @ $15.61, total addition today was 127%.

Portfolio is AMZN,CLF,RIMM,RVBD

Portfolio weighting is :

RIMM 36.01%

AMZN 30.64%

RVBD 17.51%

CLF 15.84%

Exposure 85%......

Sentiment in RIMM is @ the lowest level tonight, everybody is extremely critical or negative about everything RIMM is doing or not doing.....that gives me more confidence that "MOST of  the bad news is priced IN"

AH ER :

TXN UP 3.56%

VMW UP 4.99%

AH Futures Down

AH Asian Markets UP

AH Oil UP

AH Gold Down

About markets, most pundits are on the bandwagon that S&P 500 is overbought, that may be BUT, we can use RSI to buy stocks or stay in market with your portfolio. I check RSI for all my buy & sell decision. I also use RSI to monitor my portfolio. As long as i have stocks which is NOT high 60, i feel comfortable. BUT ..you have to monitor your OWN comfort level based on NOISE.

BLOG does NOT give buy or sell.

Saleem

21 comments:

stocktrader_1996 said...

Hey Saleem,

Question about RIMM: If an event happens that you expected (the CEOs replaced) yet the price action is not what you expected, does that give you some pause? I realize it's just the first day, but I was wondering your thinking on the matter.

Thanks! :)

Also, low nat gas beneficiaries are high on my buy list. If CHK has to shut in production in an attempt to boost prices, we are definitely structurally oversupplied. I also revisited OCZ over the weekend and still like the story--I'll try to get a little more of that in the coming days if the price action is constructive.

Stocktrader

Stocks100 said...

Hi Stocktrader,

CEO change was negative for those holders who were holding for a buyout....

52 million shares traded today,90% of them were "buyout only traders/ HFT"

10% of sellers were those, who look to media for answers.....

RIMM had many great news which was NOT played UP?

First a new independent board member is Prem Watsa..a genius investor whose company Faifax Financial trades @ FFH.TO last price $421.27..he is the 4th largest shareholder of RIMM & will be increasing his stake after today....

Second, Mike Laziridis original owner & CEO / Vice -Chairman of Board is buying $50 million of RIMM share in Open Market......

New CEO is a task master....Charismatic leader do NOT exist today...remember Steve Jobs was the last Charismatic CEO.....

Media as usual is full of Bull on RIMM...$15 for a company with almosr $3 earning power in its worst year..i say give me a break.....really !!!!

Saleem

c said...

SALEEM

Good Morning to you! Very good market--I pause to learn...

Please watch J the Cramers show for last night! My what a awful hate full man --he bashed RIMM at the end of his show.
Please do not get mad at me --thanks

I love copper here. And nat gas IMHO has hit a bottom here and is ready to climb higher, DD is really going to benefit my lower prices! I am intrigued with WPRT Nat gas Vehicles.

MRK has new drugs that will hit the market soon..

PS:

APPLE reports and it could drop after the earning repot to night---might be an opportunity to buy some.....
C

Stocks100 said...

Hi C,

Good morning to you also.

Jimmy the Cramer has a right to his opinion like everybody else...he uses his appearance on TV from morning to evening to bash stocks his buddy have shorted..he is a front man for many......

RIMM will do what needs to be done & should be more than OK after "buyout traders" are out.

RIMM has more upside than many stocks i follow & that is what is important to me.....RIMM is not about next 48 hrs..it is about next 730 days......

CLF is my choice in base metals arena & is behaving well.

Pharma & biotech is completely out of my sight.

Good luck with your strategy.

Saleem

stocktrader_1996 said...

Hey Saleem,

I put in an order for COH before I left this morning--it filled at $66.20 on open :).

Stocktrader

Stocks100 said...

Hi Stocktrader,

COH earnings were good....you are "in the money"

Saleem

stocktrader_1996 said...

Hey Saleem,

I have a new morning obligation that sometimes takes me up to 15 minutes into the open before I get back. It is a lot more difficult to place orders and be confident both that they will fill but also be right about direction after they fill--i.e. I can't get that "feel". It is a situation I am currently working on...

Stocktrader

stocktrader_1996 said...

Hey Saleem,

I've also been slow enough to catch up this morning that I've missed a good OCZ move before my re-add I talked about last night. I still think I'm going to add, but it becomes more tricky now...

Stocktrader

Stocks100 said...

Hi Stocktrader,

Thanks for sharing your current challenge.

What i do is do all the research around 10 PM & have good idea how i feel about markets & stocks.

Then i am all set for buys or sell.

Saleem

Stocks100 said...

Hi Stocktrader,

OCZ RSI is 57.01..which is in "buy zone"

Chart looks like it has found support & ready to move UP.

Good luck with your add on.

Saleem

stocktrader_1996 said...

Hey Saleem,

Sold the RVBD I was allowed (couldn't sell all due to 3-day rule on the Friday shares) at 28.60. I'm looking to add to OCZ and CF still today.

Stocktrader

Stocks100 said...

Hi Stocktrader,

RVBD earnings on Thursday....i have high confidence..they will beat......

Good luck with your strategy.

Saleem

stocktrader_1996 said...

Hey Saleem,

They may certainly beat, but I think a lot of that is baked-in due to FFIV's earnings? I basically have no real strong opinion on RVBD at this level, so I'll wait for now. I might even end up rebuying today if prices change.

The overall strength of this market is undeniable though. Will we ever see a pullback that lasts for more than an hour?

Stocktrader

stocktrader_1996 said...

Hey Saleem,

I feel very scattered today :(

What do you think of AAPL? Seems like this selloff could set up a nice tomorrow, kind of like VMW?

Stocktrader

stocktrader_1996 said...

Hey Saleem,

Adding to the scattered theme, I can't seem to catch the chemicals companies either...and can't determine what valuation is fair to decide whether to chase or not...

My portfolio is performing well today with WPRT, COH, OCZ powering the gains, but I feel very underexposed with all this cash (about 26%).

Stocktrader

Stocks100 said...

Hi Stocktrader,

If you are looking for a productive idea...GOOG is a better bet than AAPL......

Saleem

stocktrader_1996 said...

Hey Saleem,

Added a small amount to GHDX at 26.97.

Stocktrader

stocktrader_1996 said...

Hey Saleem,

Added to CF a little while ago at 170.57.

Initiated an AAPL position at 422.72.

Still looking at adding to OCZ (might not be today at this point...) and re-establishing APKT at some point.

Stocktrader

stocktrader_1996 said...

Hey Saleem,

Sorry for all the posts today, I hope they are helpful else I can limit them--just let me know :).

Re-established APKT @ 31.02.

Only thing left is a small re-add to OCZ although it is hard to get a good entry today so far.

Stocktrader

stocktrader_1996 said...

Hey Saleem,

It just occurred to me that APKT might be outperforming due to something in the VZ conference call about capex spending? I didn't think of this until just now and maybe would have used my remaining extra cash for an APKT overweight instead of holding out for a pullback in OCZ...

Stocktrader

Stocks100 said...

Hi Stocktrader,

It is great to have all your trades posted as its happening.

Saleem