S&P finally woke up & realized, there is a problem in Europe. AAA rating is being cut & many negative outlook being given. Well that is so nice, that S&P is the last to act on any issue.Remember US downgrade, that lasted a whole day.
European wholesale downgrade probably may last 5 hours on Tuesday. World markets will give their take on Monday.
S&P 500 closed @ 1289.09. Based on European downgrade, it may be healthy to pause for a day.
RSI @ 61.41
CMF positive & near its high of the year @ +0.315
Next target for S&P 500 is 1344.07, then 1356.48 & finally 1370.58...then it is a major "upside" breakout.
Since New year, markets have taken a decisive "bullish tone", many stocks are making new all time highs.
It will be wise to show patience with strong stocks, most of them go to new all time highs in a bull market.New highs takes time & few catalysts.
It is important to keep an eye on RSI in making buying or selling decision, around 70 RSI stocks consolidates & marks time. Around 50 stocks are ready to move UP. Knowing this will reduce expectations & frustration can be minimized.
Home builders & financials are giving clear indication of a strong bull market.
Do not be frustrated, because you missed few stocks which took off. In a bull market, that happens quite often "after the fact"......
IF you are feeling left out with fast moving stocks, give it a week, then buy it.
There are roughly 60,000 stocks available for trading in major exchanges. It is not possible to have all the movers in your portfolio.
Focus on the quality of your own stocks & make educated decisions about them.Educated means, decision based on Fundamental,Technical , TAPE & SEASONALITY.
TAPE involves volume pattern, demand & direction.
It is OK to have some "speculative stocks" in your portfolio, but majority should be in stronger stocks.
Canadian markets are open, RIMM,CNQ, AGU,POT,SU,ABX,GG,AUY,EGO,NXY,TCK,
PAL,LULU & many others trade..... all you have to do is add .TO next to the symbol or in some cases do symbol search.
Good luck with your OWN research & stock selection.
BLOG does NOT give buy or sell.
Next post on Tuesday around 2 PM.
Saleem
14 comments:
Hey Saleem,
My current portfolio weights:
WWWW - 18.7%
OCZ - 12.4%
MET - 11.5%
SWC - 11.3%
WPRT - 11.1%
GLNG - 10.3%
APKT - 10.1%
AGU - 8.5%
GWMGF - 3.5%
APWC - 2.6%
Stocktrader
Hi Stocktrader,
Thanks for your portfolio weighting.
Saleem
Hi Saleem,
Do you know of anyway of investing in
hzo waterblock
I think it could really take off, but I am not sure how to invest in it?
Hi Bert,
HZO trades in NYSE..last price $7.61..average volume 90,954.....
Dont know waterblock part?
Saleem
Saleem,
I saw that one too, but it is not the boat dealer I am interested in, the one I am interested in is
hzo.me,
I know Zagg is a large share holder in the company, maybe it is not public anyway you should check it out, I think it will revolutionize how we use electronics, making them much more water proof.
Hi Bert,
@ CES, this was on sale & is widely available in US..to make every electronic gadget waterproof.
This liquid proofing treatment will be in Canada soon.
Saleem
SALEEM
looks like you are in the $$$$$$$
GE and PFE are showing me some love
LVS ands CNQ are green again. are AMZN is looking strong today
thanks to all blogger for posting comments
C
Hi C,
My portfolio is weak today .....as i have no base metal stocks?
Saleem
Saleem
I guess that explains why SCCO is up very nice
price target is still $47 RSI is 68
C
Hi C,
YES...SCCO is good alongwoth stocktrader's HIGH OCTANE picks$$$$$
Saleem
SLEEM
looks like my oils are going gang busters
EPT
ETP
EVEP
KMP
MWE
TOT
about time for some upswing
Out AMAZON is doing good
best wishes to all
Hi C,
You have 6 oil stocks in your portfolio......my one CNQ is dying.
Saleem
Hey Saleem,
Most of his are nat gas pipeline companies though...
Stocktrader
Hi Stocktrader,
I do not follow that sector, so could not tell the difference from what C was telling.
Thanks for proper sector definition.
Saleem
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