Weekly Option Expiry pinned down many stocks near certain strike price, the power of Market Maker was on display again......
We had a mixed close, with Nasdaq sole loser.
S&P 500 closed @ 1408.47
Internals were :
UP volume led by 1.97 to 1 in NYSE & 1.25 to 1 in Nasdaq
Advancing stocks led by 1.38 to 1 in NYSE & .87 to 1 in Nasdaq
New 52 wk highs expanded again, 108 in NYSE & 86 in Nasdaq
VIX UP .13% @ 15.50
Oil closed UP @ $103.02
Gold closed UP @ $1671.90
Canadian $ closed Down 15 tick @ 100.20
Portfolio is CNQ,OTEX,JCP,RIMM,RVBD
Stocks which were UP 1% or more included CNQ,OTEX,RIMM,
FCX,TCK,LULU,ZNGA,GG.AUY.APKT,BRCM......
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, March 30, 2012
Thursday, March 29, 2012
Another impressive close.......
Indices were under pressure, thanks to weaker than expected jobless claims & European issues.
S&P 500 closed @ 1403.28.
Internals were :
Down volume led by 1.42 to 1 in NYSE & 1.53 to 1 in Nasdaq
Declining stocks led by 1.56 to 1 in NYSE & 1.38 to 1 in Nasdaq
New 52 wk highs were in the lead, 36 in NYSE & 58 in Nasdaq
VIX UP .06% @ 15.48
Oil closed @ $102.78
Gold closed @ $1652.20
Stocks which were UP 2% or more included RVBD,
SLW,VMW,APKT,CLF,ZNGA....
AH ER :
RIMM AH was down 30 cents or 2.18% in AH volume of 7,384,340. Many analysts were surprised @ RIMM Q report when it also increased its cash by $610 Million in the Q, Cash on hand now equals $2.1 Billion. Based on everything i heard in conference call, RIMM by not giving exact guidance, but guiding down revenue & margin. My EPS estimate is $2.25 for year ending Feb 2013. PE stands @ 6.10.
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP.
About market, Jimmy the Cramer predicting that market will be down on Friday, because of continued "lock up" of profit by Hedge Funds. I am saying exactly the opposite, we should be UP nicely. Correction was less than 2%, which is all we are going to get. Those who are reluctant, should take advantage of any selling to buy strong stocks. I am staying positioned in beaten down stocks, as i was expecting a pullback, which has happened. I may position with few strong stocks, once they have corrected a bit more.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1403.28.
Internals were :
Down volume led by 1.42 to 1 in NYSE & 1.53 to 1 in Nasdaq
Declining stocks led by 1.56 to 1 in NYSE & 1.38 to 1 in Nasdaq
New 52 wk highs were in the lead, 36 in NYSE & 58 in Nasdaq
VIX UP .06% @ 15.48
Oil closed @ $102.78
Gold closed @ $1652.20
Stocks which were UP 2% or more included RVBD,
SLW,VMW,APKT,CLF,ZNGA....
AH ER :
RIMM AH was down 30 cents or 2.18% in AH volume of 7,384,340. Many analysts were surprised @ RIMM Q report when it also increased its cash by $610 Million in the Q, Cash on hand now equals $2.1 Billion. Based on everything i heard in conference call, RIMM by not giving exact guidance, but guiding down revenue & margin. My EPS estimate is $2.25 for year ending Feb 2013. PE stands @ 6.10.
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP.
About market, Jimmy the Cramer predicting that market will be down on Friday, because of continued "lock up" of profit by Hedge Funds. I am saying exactly the opposite, we should be UP nicely. Correction was less than 2%, which is all we are going to get. Those who are reluctant, should take advantage of any selling to buy strong stocks. I am staying positioned in beaten down stocks, as i was expecting a pullback, which has happened. I may position with few strong stocks, once they have corrected a bit more.
BLOG does NOT give buy or sell.
Saleem
RIMM post Sales of $4.2 Billion & Profit of 80 cents per share.....
RIMM surprised all the doomsters by delivering Sales of $4.2 Billion & EPS of 80 cents per share.
RIMM also increased their subscriber base by 2 million to total of 77 million subscribers worldwide.
RIMM also sold 500,000 Playbook in the Q reported, for a total Sales of 1.3 million playbook.
RIMM sold 11.1 million smartphones around the world in the Q.......
Not bad for a company which was subjected to negative article on a daily basis.
CEO articulated his vision for RIMM, which sounds impressive & attainable. This includes licensing, Joint ventures & outright sale of certain business. Cost cutting in every aspect of operation. Better way of doing every thing is his focus with accountability.BB 10 is on track, no delay.
Jim Balsillie resigned from board, CTO & COO are also going.
RIMM trading @ $13.53 down 20 cents from close.
BLOG does NOT give buy or sell.
Saleem
RIMM also increased their subscriber base by 2 million to total of 77 million subscribers worldwide.
RIMM also sold 500,000 Playbook in the Q reported, for a total Sales of 1.3 million playbook.
RIMM sold 11.1 million smartphones around the world in the Q.......
Not bad for a company which was subjected to negative article on a daily basis.
CEO articulated his vision for RIMM, which sounds impressive & attainable. This includes licensing, Joint ventures & outright sale of certain business. Cost cutting in every aspect of operation. Better way of doing every thing is his focus with accountability.BB 10 is on track, no delay.
Jim Balsillie resigned from board, CTO & COO are also going.
RIMM trading @ $13.53 down 20 cents from close.
BLOG does NOT give buy or sell.
Saleem
Lower lows in indices for three days.......
Indices are down 3 days in a row. Its lower lows all 3 day's.
Currently indices are down .36% to .84%.
S&P 500 low today is 1391.56, its down 27.59 points from absolute intraday high of 1419.15 or 1.94%. They say on Wall Street that after 3 days of selling, we get oversold, it MAY be true in this selling also.
RSI @ 55.79
CMF @ +0.216 HIGHER than yesterday, good sign for bulls.
Internals are negative by 3 to 1......
Oil Down $2.14
Gold Down $6.30
Canadian $ unchanged @ 100.13
VIX UP 8.34% @ 16.76
Portfolio is CNQ OTEX JCP, RIMM,RVBD
Most stocks are Down
@ 1.50 following are green :
RVBD,AMZN,VMW,CRM,APKT,KOG,SLW,FNSR....
BLOG does NOT give buy or sell.
Saleem
Currently indices are down .36% to .84%.
S&P 500 low today is 1391.56, its down 27.59 points from absolute intraday high of 1419.15 or 1.94%. They say on Wall Street that after 3 days of selling, we get oversold, it MAY be true in this selling also.
RSI @ 55.79
CMF @ +0.216 HIGHER than yesterday, good sign for bulls.
Internals are negative by 3 to 1......
Oil Down $2.14
Gold Down $6.30
Canadian $ unchanged @ 100.13
VIX UP 8.34% @ 16.76
Portfolio is CNQ OTEX JCP, RIMM,RVBD
Most stocks are Down
@ 1.50 following are green :
RVBD,AMZN,VMW,CRM,APKT,KOG,SLW,FNSR....
BLOG does NOT give buy or sell.
Saleem
Wednesday, March 28, 2012
Indices closed down .49% to .54% on weaker durable goods.....
Indices were facing a rough start, after durable goods came in lower than expected.
S&P 500 low was 1397.20, closing @ 1405.54.High for 2012 was 1419.15. The pullback so far was 21.95 points or 1.55%.
RSI @ 62.12
Internals were :
Down volume led by 2.62 to 1 in NYSE & 2.26 to 1 in Nasdaq
Declining stocks led by 1.69 to 1 in NYSE & 1.87 to 1 in Nasdaq
New 52 wk highs were in the lead again, 55 in NYSE & 77 in Nasdaq
VIX closed Down .77% @ 15.47
Oil closed Down @ $105.41
Gold closed Down @ $1657.90
AH ER :
MOS Down 1.8%
RHT UP 8.58%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
About market, indices continue to show resiliency despite weak economic news today. TAPE today was typical of mild pullback which we have seen since end of October. These minor pullbacks gives an entry point to many traders, who are very quick in getting on board.IBD is saying "market under pressure"
RIMM reports AH.
Here is the consensus of about 48 to 49 analysts who cover RIMM. 47 of those analysts are well defined bears. Only 2 have positive take on RIMM based on valuation / potential. In my entire trading / investing of multiple decade, i have never come across negativity with disdain for any other company.
Sales consensus Q4 ending Feb 2012 $4.53 Billion
EPS consensus Q4 81 cents
This will give RIMM consensus Sales for FY ending Feb 2012 of $18.77 billion
EPS Consensus $4.14
Guidance consensus for Q1 FY 2013 Sales $4.26 billion, EPS consensus 66 cents
Consensus for YE Feb 2013 is Sales of $17.32 Billion & EPS of $2.74.......
RIMM closed today @ $13.67.....PE for current transition year of 2013 is 4.99
What amazes me as a fundamental analyst, how can Wall Street justify such a low PE when sky is suppose to be falling for RIMM, Still they are projecting $2.74 cents in earning, for next four quarters?
Option is predicting a move of 15% after earning is out, that will be a move +- of $2.05......
BLOG does NOT give buy or sell.
Saleem
S&P 500 low was 1397.20, closing @ 1405.54.High for 2012 was 1419.15. The pullback so far was 21.95 points or 1.55%.
RSI @ 62.12
Internals were :
Down volume led by 2.62 to 1 in NYSE & 2.26 to 1 in Nasdaq
Declining stocks led by 1.69 to 1 in NYSE & 1.87 to 1 in Nasdaq
New 52 wk highs were in the lead again, 55 in NYSE & 77 in Nasdaq
VIX closed Down .77% @ 15.47
Oil closed Down @ $105.41
Gold closed Down @ $1657.90
AH ER :
MOS Down 1.8%
RHT UP 8.58%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
About market, indices continue to show resiliency despite weak economic news today. TAPE today was typical of mild pullback which we have seen since end of October. These minor pullbacks gives an entry point to many traders, who are very quick in getting on board.IBD is saying "market under pressure"
RIMM reports AH.
Here is the consensus of about 48 to 49 analysts who cover RIMM. 47 of those analysts are well defined bears. Only 2 have positive take on RIMM based on valuation / potential. In my entire trading / investing of multiple decade, i have never come across negativity with disdain for any other company.
Sales consensus Q4 ending Feb 2012 $4.53 Billion
EPS consensus Q4 81 cents
This will give RIMM consensus Sales for FY ending Feb 2012 of $18.77 billion
EPS Consensus $4.14
Guidance consensus for Q1 FY 2013 Sales $4.26 billion, EPS consensus 66 cents
Consensus for YE Feb 2013 is Sales of $17.32 Billion & EPS of $2.74.......
RIMM closed today @ $13.67.....PE for current transition year of 2013 is 4.99
What amazes me as a fundamental analyst, how can Wall Street justify such a low PE when sky is suppose to be falling for RIMM, Still they are projecting $2.74 cents in earning, for next four quarters?
Option is predicting a move of 15% after earning is out, that will be a move +- of $2.05......
BLOG does NOT give buy or sell.
Saleem
Indices Down .79% to .91%, on weaker durable goods order.....
US economic news is driving this bull run, but today weaker than expected data is taking a toll in markets today.
S&P 500 low so far is 1397.45
RSI @ 58.66
Internals are negative by minimum 2.5 to 1
Oil Down $2.35
Gold Down $27.90
Canadian $ Down 35 tick @ 100.10
VIX UP 8.53% @ 16.92
In my portfolio :
Added 40% RIMM @ $13.71...my fifth purchase
Bought JCP @ $36.54
Portfolio is CNQ,JCP,OTEX,RIMM,RVBD
Here is my weighting :
RIMM 28.43%
CNQ 20.90%
RVBD 17.99
JCP 16.46
OTEX 16.22
Exposure 139%
Most stocks are down
@ 2.05 following are green :
OTEX,GOOG,NVDA,BAC,NOK....
BLOG does NOT give buy or sell.
Saleem
S&P 500 low so far is 1397.45
RSI @ 58.66
Internals are negative by minimum 2.5 to 1
Oil Down $2.35
Gold Down $27.90
Canadian $ Down 35 tick @ 100.10
VIX UP 8.53% @ 16.92
In my portfolio :
Added 40% RIMM @ $13.71...my fifth purchase
Bought JCP @ $36.54
Portfolio is CNQ,JCP,OTEX,RIMM,RVBD
Here is my weighting :
RIMM 28.43%
CNQ 20.90%
RVBD 17.99
JCP 16.46
OTEX 16.22
Exposure 139%
Most stocks are down
@ 2.05 following are green :
OTEX,GOOG,NVDA,BAC,NOK....
BLOG does NOT give buy or sell.
Saleem
Tuesday, March 27, 2012
Indices closed down .07% to .33%........
S&P 500 & Nasdaq made new 2012 highs intraday, but by end of the day, all indices closed lower.
S&P 500 high was 1419.15, closing @ 1412.52
CMF @ +0.170..@ lowest level in months....
RSI @ 66.70
Internals were :
Down volume led by 2.35 to 1 in NYSE & 1.20 to 1 in Nasdaq
Declining stocks led by 1.39 to 1 in NYSE & 1.64 to 1 in Nasdaq
New 52 wk highs were in the lead, 161 in NYSE & 179 in Nasdaq
VIX closed UP 9.33% @ 15.59
Oil closed @ $107.33
Gold closed @ $1684.90
In my portfolio :
Added 80% more OTEX @ $59.90, seconds before closing.
Portfolio is CNQ,OTEX,RIMM,RVBD
Here is my weighting as of close :
CNQ 26.33%
RIMM 25.31%
RVBD 24.80%
OTEX 23.56%
Exposure 106%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, today was NOT a decisive day in terms of direction. Indices rested today after a huge gain yesterday. There is still month end & quarter end window dressing left. Until Friday direction could be UP. As planned, i decided to book gain & reduce my exposure. I am still @ 106% exposure, which means, i am bullish in near term BUT not risking gains. In a strong bull market, we all have to do what seems PRUDENT. I am watching internals of the market closely to see IF there is a real shift. So far its business as usual.
BLOG does NOT give buy or sell.
Saleem
S&P 500 high was 1419.15, closing @ 1412.52
CMF @ +0.170..@ lowest level in months....
RSI @ 66.70
Internals were :
Down volume led by 2.35 to 1 in NYSE & 1.20 to 1 in Nasdaq
Declining stocks led by 1.39 to 1 in NYSE & 1.64 to 1 in Nasdaq
New 52 wk highs were in the lead, 161 in NYSE & 179 in Nasdaq
VIX closed UP 9.33% @ 15.59
Oil closed @ $107.33
Gold closed @ $1684.90
In my portfolio :
Added 80% more OTEX @ $59.90, seconds before closing.
Portfolio is CNQ,OTEX,RIMM,RVBD
Here is my weighting as of close :
CNQ 26.33%
RIMM 25.31%
RVBD 24.80%
OTEX 23.56%
Exposure 106%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, today was NOT a decisive day in terms of direction. Indices rested today after a huge gain yesterday. There is still month end & quarter end window dressing left. Until Friday direction could be UP. As planned, i decided to book gain & reduce my exposure. I am still @ 106% exposure, which means, i am bullish in near term BUT not risking gains. In a strong bull market, we all have to do what seems PRUDENT. I am watching internals of the market closely to see IF there is a real shift. So far its business as usual.
BLOG does NOT give buy or sell.
Saleem
Indices mixed, with Nasdaq showing green.....
Indices are mixed, with Nasdaq showing green.
S&P 500 went to 1419.15, currently @1415.76.
Internals are negative.
Oil Down 1 cent
Gold Down 80 cents
Canadian $ Down 26 tick @ 100.62
VIX UP 7.22% @ 15.29
In my portfolio :
Sold AMZN
Sold LEN
Sold MS
Portfolio is CNQ,OTEX,RIMM,RVBD
Exposure 96% from 154%...58% reduction in exposure.
Most stocks are Down
@ 1.50 following are UP :
RVBD,AMZN,LEN,AAPL,CLF,JCP,LVS,
GOOG,LNKD,BIDU,FCX,MOS,FFIV,
M,LRCX,MU,BRCM,JDSU,CIEN,FNSR,
SBUX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 went to 1419.15, currently @1415.76.
Internals are negative.
Oil Down 1 cent
Gold Down 80 cents
Canadian $ Down 26 tick @ 100.62
VIX UP 7.22% @ 15.29
In my portfolio :
Sold AMZN
Sold LEN
Sold MS
Portfolio is CNQ,OTEX,RIMM,RVBD
Exposure 96% from 154%...58% reduction in exposure.
Most stocks are Down
@ 1.50 following are UP :
RVBD,AMZN,LEN,AAPL,CLF,JCP,LVS,
GOOG,LNKD,BIDU,FCX,MOS,FFIV,
M,LRCX,MU,BRCM,JDSU,CIEN,FNSR,
SBUX.....
BLOG does NOT give buy or sell.
Saleem
Monday, March 26, 2012
S&P 500 & Nasdaq @ new 2012 closing high.......NICE !!!!
Month end & quarter end produced the expected firework. Indices ended UP higher by 1.23% to 1.78%.
S&P 500 closed @ 1416.51
RSI @ 69.42
Ben Bernanke was given much of the credit for this rally, which is misplaced. BB has said the same things for months "ready for more IF needed"...heard it over & over???
Internals were :
UP volume led by 5.73 to 1 in NYSE & 5.58 to 1 in Nasdaq
Advancing stocks led by 3.12 to 1 in NYSE & 3.29 to 1 in Nasdaq
New 52 wk highs expanded, 171 in NYSE & 213 in Nasdaq
VIX closed Down 3.78% @ 14.26
Oil closed @ $107.03
Gold closed @ $1685.60
Stocks which were UP 2% or more included AMZN,LEN,MS,OTEX,RIMM,RVBD,
CMG,BWLD,COH,PCLN,TCK,GG,
AUY,LVS,FFIV,QCOM,BIDU,
CRM,MA,JDSU,FNSR,SNDK.......
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, Indices are following a typical window dressing TAPE. Hopefully this TAPE will gather steam in next two day's. Hopefully by Wednesday, i should be able to book profit in most
of my portfolio. RSI stalled around 75 area last time in S&P 500, I am closely monitoring this important indicator. Sometimes you have to follow your OWN instinct, i intend to do that. By the way, what happened to Adami's 1340 target & Doug Kass perfect bearish call made a month ago ? I am sure they still think, they can move the market, with their make believe non-reasons?
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1416.51
RSI @ 69.42
Ben Bernanke was given much of the credit for this rally, which is misplaced. BB has said the same things for months "ready for more IF needed"...heard it over & over???
Internals were :
UP volume led by 5.73 to 1 in NYSE & 5.58 to 1 in Nasdaq
Advancing stocks led by 3.12 to 1 in NYSE & 3.29 to 1 in Nasdaq
New 52 wk highs expanded, 171 in NYSE & 213 in Nasdaq
VIX closed Down 3.78% @ 14.26
Oil closed @ $107.03
Gold closed @ $1685.60
Stocks which were UP 2% or more included AMZN,LEN,MS,OTEX,RIMM,RVBD,
CMG,BWLD,COH,PCLN,TCK,GG,
AUY,LVS,FFIV,QCOM,BIDU,
CRM,MA,JDSU,FNSR,SNDK.......
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, Indices are following a typical window dressing TAPE. Hopefully this TAPE will gather steam in next two day's. Hopefully by Wednesday, i should be able to book profit in most
of my portfolio. RSI stalled around 75 area last time in S&P 500, I am closely monitoring this important indicator. Sometimes you have to follow your OWN instinct, i intend to do that. By the way, what happened to Adami's 1340 target & Doug Kass perfect bearish call made a month ago ? I am sure they still think, they can move the market, with their make believe non-reasons?
BLOG does NOT give buy or sell.
Saleem
Indices UP .98% to 1.40% on month / quarter end buying......NICE !!!!!
Portfolio Managers are dressing UP their portfolio by buying what has worked. Month / Quarter end buying in high gear.
S&P 500 high so far is 1412.06....high of the year is 1414.00, which should be taken out today.
RSI @ 67.86
Internals are positive by almost 3 to 1
New 52 wk highs expanded to 167 in NYSE & 189 in Nasdaq
Oil Down 12 cents
Gold UP $22.80
Canadian $ UP 52 tick @ 100.74
VIX UP 1.08% @ 14.98
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
LEN reports before open, expecting positive commentary on housing.
Most stocks are UP
@ 2.00 following are red :
CNQ,CLF,LULU,JCP,FIO,TSL,MU,
X,KOG,IBN......
BLOG does NOT give buy or sell.
Saleem
S&P 500 high so far is 1412.06....high of the year is 1414.00, which should be taken out today.
RSI @ 67.86
Internals are positive by almost 3 to 1
New 52 wk highs expanded to 167 in NYSE & 189 in Nasdaq
Oil Down 12 cents
Gold UP $22.80
Canadian $ UP 52 tick @ 100.74
VIX UP 1.08% @ 14.98
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
LEN reports before open, expecting positive commentary on housing.
Most stocks are UP
@ 2.00 following are red :
CNQ,CLF,LULU,JCP,FIO,TSL,MU,
X,KOG,IBN......
BLOG does NOT give buy or sell.
Saleem
Sunday, March 25, 2012
Looking ahead to April.......
It is important to anticipate market action for next few month.
April MAY be lot different than Jan, Feb or March.
March is ending with many highs & MAY make few more in last week.
Next week is end of week, end of month & end of quarter.
It is quite significant for many money managers to look & show good result.
There may be a flurry of activity on the positive side, but it may all end by Wed.
It is important to book gains by Wednesday where possible & try to be small in exposure.
WHY am i saying this?
Because indices cannot & must not go UP in a straight line.
We had one hell of a run from October lows of 1074.77, currently we are sitting @ 1397.11 which is an UP move of 322.34 points or 29.99% in a matter of six straight months.
Sentiment is too euphoric & may come to a boiling point in next 3 to 5 days, that will be a great "exit point" or to "get small"
In case you are wondering about resistance it is between 1440 to 1450, BUT we MAY not get that high in this run.
As to support, most technicians like to see 50 DMA as support, which is @ 1352.00. I personally believe that in any full fledge correction we MAY go under to create panic & get weak hands out.I look to 1330 as major support.
It is good to be pre-emptive than wait for "selling avalanche"......
I am looking forward to winding down my portfolio in a big way by Wednesday.
This is my personal take & may not happen, the way i see it.
Will NOT encourage shorting in this strong market, more like a chance to accumulate strong stocks again.....
Some of the reasons for my caution is :
-Equity had major gains already.
-China negativity may continue.
-European summer is a slow period, when they practically shut down for vacation.
-Some major stocks are looking vulnerable.
-Euphoria is highest as per investor intelligence, Bulls 48%+++
June may be a better time, to resume higher exposure.
So..... Go away in April & May is the theme for me.
BLOG does NOT give buy or sell.
Saleem
April MAY be lot different than Jan, Feb or March.
March is ending with many highs & MAY make few more in last week.
Next week is end of week, end of month & end of quarter.
It is quite significant for many money managers to look & show good result.
There may be a flurry of activity on the positive side, but it may all end by Wed.
It is important to book gains by Wednesday where possible & try to be small in exposure.
WHY am i saying this?
Because indices cannot & must not go UP in a straight line.
We had one hell of a run from October lows of 1074.77, currently we are sitting @ 1397.11 which is an UP move of 322.34 points or 29.99% in a matter of six straight months.
Sentiment is too euphoric & may come to a boiling point in next 3 to 5 days, that will be a great "exit point" or to "get small"
In case you are wondering about resistance it is between 1440 to 1450, BUT we MAY not get that high in this run.
As to support, most technicians like to see 50 DMA as support, which is @ 1352.00. I personally believe that in any full fledge correction we MAY go under to create panic & get weak hands out.I look to 1330 as major support.
It is good to be pre-emptive than wait for "selling avalanche"......
I am looking forward to winding down my portfolio in a big way by Wednesday.
This is my personal take & may not happen, the way i see it.
Will NOT encourage shorting in this strong market, more like a chance to accumulate strong stocks again.....
Some of the reasons for my caution is :
-Equity had major gains already.
-China negativity may continue.
-European summer is a slow period, when they practically shut down for vacation.
-Some major stocks are looking vulnerable.
-Euphoria is highest as per investor intelligence, Bulls 48%+++
June may be a better time, to resume higher exposure.
So..... Go away in April & May is the theme for me.
BLOG does NOT give buy or sell.
Saleem
Friday, March 23, 2012
Indices closed green...NICE !!!!
Indices closed green, after CNBC pundits predicted major decline.
It pay's NOT to tune in CNBC.......
Indices were UP .15% to .31%
S&P 500 closed @ 1397.11, low of the day was 1386.87. Taking absolute high intraday number of 1414, we had a highest to lowest pullback of 27.13 points or 1.92%.....CNBC wants you to believe that "sky has fallen"
Oil closed @ $106.75
Gold closed @ $1661.10
Canadian $ closed @ 100.22
VIX closed Down 4.82% @ 14.82
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
Stocks which were UP 1% or more included AMZN,MS,
CLF,MOS,FIO,GG,AUY,SLW,SU,NTES,MA,C,TSL
,BRCM,VECO,CIEN,FNSR,ARUN...
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
It pay's NOT to tune in CNBC.......
Indices were UP .15% to .31%
S&P 500 closed @ 1397.11, low of the day was 1386.87. Taking absolute high intraday number of 1414, we had a highest to lowest pullback of 27.13 points or 1.92%.....CNBC wants you to believe that "sky has fallen"
Oil closed @ $106.75
Gold closed @ $1661.10
Canadian $ closed @ 100.22
VIX closed Down 4.82% @ 14.82
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
Stocks which were UP 1% or more included AMZN,MS,
CLF,MOS,FIO,GG,AUY,SLW,SU,NTES,MA,C,TSL
,BRCM,VECO,CIEN,FNSR,ARUN...
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, March 22, 2012
Indices closed down .39% to .72%......
Indices faced negative economic data from China & Europe @ open. US economic numbers were better than expected.
Indices closed down with focus on European & Chinese data.
S&P low today was 1388.73, closed @ 1392.78
RSI @ 60.68
Internals were :
Down volume led by 5.34 to 1 in NYSE & 2.18 to 1 in Nasdaq
Declining stocks led by 3 to 1 in NYSE & 2.17 to 1 in Nasdaq
New 52 wk highs were still leading, 34 in NYSE & 49 in Nasdaq
Oil closed @ $105.35
Gold closed @ $1642.50
VIX closed @ 15.57 UP 2.91%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
AH ER :
NKE UP 1.14%
MU Down 3.21%
About market, there is too much jubilation in CNBC about today's minor slump. ADAMI guaranteeing 1349 & implying more downside ahead. I personally believe that, we have a very good chance of closing green on Friday. Also i believe that we may make new 2012 high in next 6 trading days.
BLOG does NOT give buy or sell.
PS...there is only 1 post on Friday's around 6 PM.
Saleem
Indices closed down with focus on European & Chinese data.
S&P low today was 1388.73, closed @ 1392.78
RSI @ 60.68
Internals were :
Down volume led by 5.34 to 1 in NYSE & 2.18 to 1 in Nasdaq
Declining stocks led by 3 to 1 in NYSE & 2.17 to 1 in Nasdaq
New 52 wk highs were still leading, 34 in NYSE & 49 in Nasdaq
Oil closed @ $105.35
Gold closed @ $1642.50
VIX closed @ 15.57 UP 2.91%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
AH ER :
NKE UP 1.14%
MU Down 3.21%
About market, there is too much jubilation in CNBC about today's minor slump. ADAMI guaranteeing 1349 & implying more downside ahead. I personally believe that, we have a very good chance of closing green on Friday. Also i believe that we may make new 2012 high in next 6 trading days.
BLOG does NOT give buy or sell.
PS...there is only 1 post on Friday's around 6 PM.
Saleem
Chinese & German manufacturing slump taking a toll in market....
US jobless claims hitting 4 year lows & LEI came in better than expected, but German & Chinese manufacturing data are below expectations. As US is # 1 economy, US Data should have offset European & Chinese weakness, but not today so far.
Indices are down .34% to .68%
S&P 500 low today is 1388.95 which is a correction of 25.05 or 1.77% from intraday 2012 high of 1414.00......
Internals are negative by almost 3 to 1
Oil Down $2.58
Gold Down $13.80
Canadian $ Down 72 tick @ 100.06
VIX UP 4.96% @ 15.88...not as high as it could have been......good for equity....
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD...
Most stocks are down
@ 1.50 following are green :
AMZN,RVBD,LULU,BIDU,PCLN,LVS,
CMG,GOOG,BWLD,NTES,FFIV,MA,
V,TSL,SBUX,BJRI.....
BLOG does NOT give buy or sell.
Saleem
Indices are down .34% to .68%
S&P 500 low today is 1388.95 which is a correction of 25.05 or 1.77% from intraday 2012 high of 1414.00......
Internals are negative by almost 3 to 1
Oil Down $2.58
Gold Down $13.80
Canadian $ Down 72 tick @ 100.06
VIX UP 4.96% @ 15.88...not as high as it could have been......good for equity....
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD...
Most stocks are down
@ 1.50 following are green :
AMZN,RVBD,LULU,BIDU,PCLN,LVS,
CMG,GOOG,BWLD,NTES,FFIV,MA,
V,TSL,SBUX,BJRI.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, March 21, 2012
Indices closed mixed.....
Indices were almost flat today @ close.
Nasdaq was the only minor green.
S&P 500 closed @ 1402.89
RSI @ 67.91
Internals were mixed.
New 52 wk highs were in the lead again, 68 in NYSE & 91 in Nasdaq
Oil closed @ $107.27
Gold closed @ $1650.30
VIX closed Down 2.89% @ 15.13
Stocks which were UP 1% or more included LULU, PCLN,
FCX,FIO,NTES,VMW,FFIV,BIDU,GOOG,CRM,M,MU,
SNDK,CRUS.....
AH Futures UP
AH Asian Markets UP
AH Gold UP
AH Oil Down
About market, it continues to show resiliency everyday despite weak housing data. GS is joining the bandwagon of a very strong equity market on a long term basis. Many pundits are predicting a major bull run. It is important to do serious homework to have a broad based portfolio.Patience & conviction is the key in a major bull run.
BLOG does NOT give buy or sell.
Saleem
Nasdaq was the only minor green.
S&P 500 closed @ 1402.89
RSI @ 67.91
Internals were mixed.
New 52 wk highs were in the lead again, 68 in NYSE & 91 in Nasdaq
Oil closed @ $107.27
Gold closed @ $1650.30
VIX closed Down 2.89% @ 15.13
Stocks which were UP 1% or more included LULU, PCLN,
FCX,FIO,NTES,VMW,FFIV,BIDU,GOOG,CRM,M,MU,
SNDK,CRUS.....
AH Futures UP
AH Asian Markets UP
AH Gold UP
AH Oil Down
About market, it continues to show resiliency everyday despite weak housing data. GS is joining the bandwagon of a very strong equity market on a long term basis. Many pundits are predicting a major bull run. It is important to do serious homework to have a broad based portfolio.Patience & conviction is the key in a major bull run.
BLOG does NOT give buy or sell.
Saleem
Indices mixed......
Indices are mixed, with Nasdaq strong, while other indices are flatlining.
Internals are positive.
Oil UP .88 cents
Gold UP $4.10
Canadian $ down12 tick @ 100.73
VIX down 3.02% @ 15.11
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD....
Most stocks are UP
@ 2.30 following are down :
MS,OTEX,CLF,TIF,TCK,MOS,QCOM,APKT,
TSL,LRCX,VECO,C,AEM,SNE.....
BLOG does NOT give buy or sell.
Saleem
Internals are positive.
Oil UP .88 cents
Gold UP $4.10
Canadian $ down12 tick @ 100.73
VIX down 3.02% @ 15.11
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD....
Most stocks are UP
@ 2.30 following are down :
MS,OTEX,CLF,TIF,TCK,MOS,QCOM,APKT,
TSL,LRCX,VECO,C,AEM,SNE.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, March 20, 2012
Indices closed down .14% to .52%.........
Indices showed its resilience again today, by dealing with Chinese economic slowdown with a "big yawn"......
S&P 500 closed @ 1405.52, less than 9 points below 2012 intraday high.
Internals were :
Down volume led by 1.92 to 1 in NYSE & 1.34 to 1 in Nasdaq
Declining stocks led by 2.04 to 1 in NYSE & 2.10 to 1 in Nasdaq
New 52 wk highs were in the lead again, 41 in NYSE & 58 in Nasdaq
VIX closed UP 3.59% @ 15.58
Oil closed @ $105.61
Gold closed @ $1647.00
AH ER :
ORCL UP 1.46%
JBL Down 2.42%
Stocks which were UP 1% or more included AMZN,MS,
COH,TIF,AUY,APKT,TSL,JCP,LRCX....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, today was a typical 1% pullback on an intraday basis. It is very easy to see that those who over-reacts to even Chinese slowdown news, are NOT feeling very smart by end of the day. Stay the course & think very long-term like five years, with your best ideas to invest. Stay diversified in growth stocks & "it will come together"
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1405.52, less than 9 points below 2012 intraday high.
Internals were :
Down volume led by 1.92 to 1 in NYSE & 1.34 to 1 in Nasdaq
Declining stocks led by 2.04 to 1 in NYSE & 2.10 to 1 in Nasdaq
New 52 wk highs were in the lead again, 41 in NYSE & 58 in Nasdaq
VIX closed UP 3.59% @ 15.58
Oil closed @ $105.61
Gold closed @ $1647.00
AH ER :
ORCL UP 1.46%
JBL Down 2.42%
Stocks which were UP 1% or more included AMZN,MS,
COH,TIF,AUY,APKT,TSL,JCP,LRCX....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, today was a typical 1% pullback on an intraday basis. It is very easy to see that those who over-reacts to even Chinese slowdown news, are NOT feeling very smart by end of the day. Stay the course & think very long-term like five years, with your best ideas to invest. Stay diversified in growth stocks & "it will come together"
BLOG does NOT give buy or sell.
Saleem
Indices down .33% to .42% on Chinese slowdown.......
Indices were under pressure, when leading metal companies used Chinese slowdown to project their business model.
S&P 500 low today was 1397.68 which meant a pullback of 17.32 points from absolute high of 1414.00, that is a correction of 1.22%......
Internals are negative by 2 to 1
Oil down $2.12
Gold down $19.90
Canadian $ down 54 tick @ 100.76
VIX UP 1.73% @ 15.30, sign of strength in equity.....
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
Most stocks are down
@ 2.00 following are green :
AMZN,MS,TIF,JCP,COH,AAPL,MOS,AUY,
GOOG,APKT,TSL,LRCX,C,ARUN,ABX,KGC,
AEM,NYX,GS,AGU......
BLOG does NOT give buy or sell.
Saleem
S&P 500 low today was 1397.68 which meant a pullback of 17.32 points from absolute high of 1414.00, that is a correction of 1.22%......
Internals are negative by 2 to 1
Oil down $2.12
Gold down $19.90
Canadian $ down 54 tick @ 100.76
VIX UP 1.73% @ 15.30, sign of strength in equity.....
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
Most stocks are down
@ 2.00 following are green :
AMZN,MS,TIF,JCP,COH,AAPL,MOS,AUY,
GOOG,APKT,TSL,LRCX,C,ARUN,ABX,KGC,
AEM,NYX,GS,AGU......
BLOG does NOT give buy or sell.
Saleem
Monday, March 19, 2012
Another 2012 closing high for all indices....NICE !!!!
Indices closed green again.
S&P 500 went to 1414 @ its highest point today, closed @ 1409.75.
RSI closed @ 73.15
Internals were :
UP volume led by 1.22 to 1 in NYSE & 2.73 to 1 in Nasdaq
Advancing stocks led by 1.70 to 1 in NYSE & 1.56 to 1 in Nasdaq
New 52 wk high were in the lead, 127 in NYSE & 166 in Nasdaq
VIX closed UP 3.94% @ 15.04
Oil closed @ $108.09
Gold closed @ $1667.30
Stocks which were UP 1% or more included CNQ,MS,
CLF,PCLN,AAPL,BWLD,LULU,FCX,SU,NTES,LVS,
QCOM,BIDU,GOOG,APKT,MA,V,BRCM,FNSR,C,
ARUN......
AH ER ADBE Down 4.52%
AH Futures UP
AH Asian markets UP
AH Oil & Gold Down
About market, it must be in deep trouble as our all knowing, Doug Kass made his 5th paid / unpaid appearance on CNBC telling us about his imaginary AAPL short @ $605( never traded until late AH today) & covering it @ $583...never saw AAPL trade in that range.
His "holiness" also reduced his fair value of S&P 500 today from 1345 to 1335......remember that is where he declared his large short on the market....several weeks ago????
Despite bears who have been wrong for @ least 13 wks, market seems to be in good shape. Strength of this market is evident, based on how we close. BUT pay attention to RSI......
BLOG does NOT give buy or sell.
Saleem
S&P 500 went to 1414 @ its highest point today, closed @ 1409.75.
RSI closed @ 73.15
Internals were :
UP volume led by 1.22 to 1 in NYSE & 2.73 to 1 in Nasdaq
Advancing stocks led by 1.70 to 1 in NYSE & 1.56 to 1 in Nasdaq
New 52 wk high were in the lead, 127 in NYSE & 166 in Nasdaq
VIX closed UP 3.94% @ 15.04
Oil closed @ $108.09
Gold closed @ $1667.30
Stocks which were UP 1% or more included CNQ,MS,
CLF,PCLN,AAPL,BWLD,LULU,FCX,SU,NTES,LVS,
QCOM,BIDU,GOOG,APKT,MA,V,BRCM,FNSR,C,
ARUN......
AH ER ADBE Down 4.52%
AH Futures UP
AH Asian markets UP
AH Oil & Gold Down
About market, it must be in deep trouble as our all knowing, Doug Kass made his 5th paid / unpaid appearance on CNBC telling us about his imaginary AAPL short @ $605( never traded until late AH today) & covering it @ $583...never saw AAPL trade in that range.
His "holiness" also reduced his fair value of S&P 500 today from 1345 to 1335......remember that is where he declared his large short on the market....several weeks ago????
Despite bears who have been wrong for @ least 13 wks, market seems to be in good shape. Strength of this market is evident, based on how we close. BUT pay attention to RSI......
BLOG does NOT give buy or sell.
Saleem
Indices continues its march to another 2012 highs....NICE !!!!
Indices are moving higher again, all @ brand new 2012 highs today.
Internals are positive by minimum 2 to 1.
Oil UP 88 cents
Gold UP $10.70
Canadian $ UP 54 tick @ 101.37
VIX UP .9% @ 14.60
In my portfolio :
Added 50% LEN @ $26.29
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
Here is my real time weighting :
AMZN 18.92%
CNQ 18.24%
RIMM 17.13%
RVBD 16.10%
LEN 10.58%
MS 10.44%
OTEX 8.59%
Exposure 154%
Most stocks are UP
@ 2.10 following are down :
COH,FIO,AUY,TSL,M,VMW,MU,
ABX,AEM,BJRI,SNE,IBN.....
BLOG does NOT give buy or sell.
Saleem
Internals are positive by minimum 2 to 1.
Oil UP 88 cents
Gold UP $10.70
Canadian $ UP 54 tick @ 101.37
VIX UP .9% @ 14.60
In my portfolio :
Added 50% LEN @ $26.29
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
Here is my real time weighting :
AMZN 18.92%
CNQ 18.24%
RIMM 17.13%
RVBD 16.10%
LEN 10.58%
MS 10.44%
OTEX 8.59%
Exposure 154%
Most stocks are UP
@ 2.10 following are down :
COH,FIO,AUY,TSL,M,VMW,MU,
ABX,AEM,BJRI,SNE,IBN.....
BLOG does NOT give buy or sell.
Saleem
Sunday, March 18, 2012
Will March carry the tradition of making new HIGHS ?
Indices are on a roll for multiple reasons.
-World economies have seen their lowest point known a trough, & is on its way towards normalized growth.
-Numbers in US are simply " better than expected" on a continuous basis.
-European economy is on the mend also.
-India & China are trying to loosen up credit for growth.
-Inflation is peaking.
The only monkey wrench is, higher Oil prices, which is having an impact in inflation. Household budget is being impacted.
Oil, like any other commodity, may go further UP. There is increase in gasoline usage in developing economies like China, India.....
Europeans are paying very high Gasoline prices for a long time & have adjusted to this reality of $8 to $10 per US Gallon. US is in the process of paying higher gasoline prices. Canadian prices are much higher than US, currently @ around $1.30 per litre for Regular...equivalent to $4.91 for US gallon.
I do not see Gasoline in US having much impact to retail or restaurant spending.
Improving economies of the world should carry this market to higher ground & new HIGHS by March of next year.
On March 24th, 2000 S&P 500 intraday high was 1552.87......
On March 16th, 2012 S&P 500 intraday high was 1405.88.....
SO...after 12 years we are 146.99 lower.....there is another 10.46% left to match previous high......
I have a strong feeling that by March 2013...we should be @ new all-time highs in S&P 500......
Stock market goes in a momentum based uptrend, nobody should be surprised @ 2012 strength so far. I expect this strength to gather more momentum from here till end of 2013......
YES.... there will be periodic pullbacks in indices & many sectors along the way..as we witnessed in Transports, Base Metals, Ag & Gold sectors already...even Semis were down......
BUT..most of these sectors keep rotating to higher grounds.....
This market has established clear uptrend by taking out many resistance along the way & more to follow.....
Conviction & Patience are key ingredient to making serious money. Some may be feeling left out with their picks, but if you have done your homework / due diligence, you should participate in this "mother of all rallies"
This is a multi-year uptrend, only way to participate is to stay put & reap the reward of a lifetime.
Good luck with your OWN market analysis & your OWN picks.
BLOG does NOT give buy or sell.
Saleem
-World economies have seen their lowest point known a trough, & is on its way towards normalized growth.
-Numbers in US are simply " better than expected" on a continuous basis.
-European economy is on the mend also.
-India & China are trying to loosen up credit for growth.
-Inflation is peaking.
The only monkey wrench is, higher Oil prices, which is having an impact in inflation. Household budget is being impacted.
Oil, like any other commodity, may go further UP. There is increase in gasoline usage in developing economies like China, India.....
Europeans are paying very high Gasoline prices for a long time & have adjusted to this reality of $8 to $10 per US Gallon. US is in the process of paying higher gasoline prices. Canadian prices are much higher than US, currently @ around $1.30 per litre for Regular...equivalent to $4.91 for US gallon.
I do not see Gasoline in US having much impact to retail or restaurant spending.
Improving economies of the world should carry this market to higher ground & new HIGHS by March of next year.
On March 24th, 2000 S&P 500 intraday high was 1552.87......
On March 16th, 2012 S&P 500 intraday high was 1405.88.....
SO...after 12 years we are 146.99 lower.....there is another 10.46% left to match previous high......
I have a strong feeling that by March 2013...we should be @ new all-time highs in S&P 500......
Stock market goes in a momentum based uptrend, nobody should be surprised @ 2012 strength so far. I expect this strength to gather more momentum from here till end of 2013......
YES.... there will be periodic pullbacks in indices & many sectors along the way..as we witnessed in Transports, Base Metals, Ag & Gold sectors already...even Semis were down......
BUT..most of these sectors keep rotating to higher grounds.....
This market has established clear uptrend by taking out many resistance along the way & more to follow.....
Conviction & Patience are key ingredient to making serious money. Some may be feeling left out with their picks, but if you have done your homework / due diligence, you should participate in this "mother of all rallies"
This is a multi-year uptrend, only way to participate is to stay put & reap the reward of a lifetime.
Good luck with your OWN market analysis & your OWN picks.
BLOG does NOT give buy or sell.
Saleem
Friday, March 16, 2012
S&P closed UP again @ 1404.17.......NICE !!!!
Indices stayed pretty close to break even line whole day. By close Dow & Nasdaq were down slightly & S&P 500 continued its march HIGHER.
S&P 500 closed @ 1404.17.
Oil closed @ $107.24
Gold closed @ $1659.60
Canadian $ closed @ 100.82
VIX crashed again, down 6.16% @ 14.47 , very good sign for future equity prices.
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
Stocks which were UP 2% or more included CNQ,RIMM,
PCLN,TCK,MOS,TSL,KOG,AGU.....
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1404.17.
Oil closed @ $107.24
Gold closed @ $1659.60
Canadian $ closed @ 100.82
VIX crashed again, down 6.16% @ 14.47 , very good sign for future equity prices.
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
Stocks which were UP 2% or more included CNQ,RIMM,
PCLN,TCK,MOS,TSL,KOG,AGU.....
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, March 15, 2012
S&P 500 closed @ 1402.60.......NICE !!!!!
Many bears are in DEEEEEP trouble with this market, they were so sure many weeks ago, that they made REPEATED appearance on CNBC to announce their HIGHEST short position. First thesis market has topped, second QQQQ is a great short & last Banks have seen their highs.....it is sad to see that all three thesis are 100% WRONG for many weeks....cannot wait for their next short idea ?
S&P 500 closed @ 1402.60 near high of the day, actually missed the high by 3 tick.......
Internals of the market :
UP volume led by 3.38 to 1 in NYSE & 3.21 to 1 in Nasdaq
Advancing stocks led by 1.50 to 1 in NYSE & 1.99 to 1 in Nasdaq
New 52 wk highs were in the lead, 104 in NYSE & 110 in Nasdaq
Oil closed @ $105.11
Gold closed @ $1659.50
VIX closed UP .72% @ 15.42
Stocks which were UP 3% or more included RVBD, MS,
CLF,VMW,TSL,VECO,JDSU,CIEN,C.....
AH Futures Down
AH Asian Markets Down
AH Gold Down
AH Oil UP
About market, we had seven straight days of Dow being UP, similar trend in S&P 500 & Nasdaq. It is perfectly normal to have a minor pullback or sideways move. As Friday is Weekly & Monthly Option expiry, expect some Volatility. This market is to stay put or buy / switch on any weakness.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1402.60 near high of the day, actually missed the high by 3 tick.......
Internals of the market :
UP volume led by 3.38 to 1 in NYSE & 3.21 to 1 in Nasdaq
Advancing stocks led by 1.50 to 1 in NYSE & 1.99 to 1 in Nasdaq
New 52 wk highs were in the lead, 104 in NYSE & 110 in Nasdaq
Oil closed @ $105.11
Gold closed @ $1659.50
VIX closed UP .72% @ 15.42
Stocks which were UP 3% or more included RVBD, MS,
CLF,VMW,TSL,VECO,JDSU,CIEN,C.....
AH Futures Down
AH Asian Markets Down
AH Gold Down
AH Oil UP
About market, we had seven straight days of Dow being UP, similar trend in S&P 500 & Nasdaq. It is perfectly normal to have a minor pullback or sideways move. As Friday is Weekly & Monthly Option expiry, expect some Volatility. This market is to stay put or buy / switch on any weakness.
BLOG does NOT give buy or sell.
Saleem
Higher highs in all indices again......NICE !!!!
Indices are making a new 2012 highs again.
S&P 500 high today so far is 1402.35
Internals are positive.
Oil down 41 cents
Gold UP $12.70
Canadian $ UP 24 tick @ 100.92
VIX Down 1.57% @ 15.07
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
Most stocks are UP
@ 1.25 following are red :
TIF,COH,FIO,AAPL,NTES,QCOM,BIDU,
MA,M,SNDK......
BLOG does NOT give buy or sell.
Saleem
S&P 500 high today so far is 1402.35
Internals are positive.
Oil down 41 cents
Gold UP $12.70
Canadian $ UP 24 tick @ 100.92
VIX Down 1.57% @ 15.07
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
Most stocks are UP
@ 1.25 following are red :
TIF,COH,FIO,AAPL,NTES,QCOM,BIDU,
MA,M,SNDK......
BLOG does NOT give buy or sell.
Saleem
Wednesday, March 14, 2012
Another impressive close, higher highs in the process....NICE !!!!
Indices made higher highs & Dow & Nasdaq closed green, while S&P 500 was down .12%. This is very impressive after a sharp UP move yesterday. Many so-called non-pundits called it a blow off day yesterday.
After blow off we see sharp reversal & no more higher highs, but non-gurus do not know facts about markets..JUST un-researched OPINIONS on CNBC. By the way blow off top is never reached in one day, it is after series of higher highs in very high volume.
Internals of the market :
Down volume led by 1.67 to 1 in NYSE & 1.31 to 1 in Nasdaq
Declining stocks led by 2.80 to 1 in NYSE & 2.10 to 1 in Nasdaq
New 52 wk highs were in lead, 156 in NYSE & 140 in Nasdaq
VIX closed UP 3.45% @ 15.31
Oil closed @ $105.43
Gold closed @ $1642.90
S&P 500 closed @ 1394.28, after hitting a 2012 high of 1399.42
AH Futures Mixed
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, history tells us that we are in a strong bull market, this is based on strong economic data from US. As we all know that US was given a "guaranteed RECESSION" by know it all Roubini & Rosenberg, they were comparing to Depression in US????. Stay invested & think long term.
BLOG does NOT give buy or sell.
Saleem
After blow off we see sharp reversal & no more higher highs, but non-gurus do not know facts about markets..JUST un-researched OPINIONS on CNBC. By the way blow off top is never reached in one day, it is after series of higher highs in very high volume.
Internals of the market :
Down volume led by 1.67 to 1 in NYSE & 1.31 to 1 in Nasdaq
Declining stocks led by 2.80 to 1 in NYSE & 2.10 to 1 in Nasdaq
New 52 wk highs were in lead, 156 in NYSE & 140 in Nasdaq
VIX closed UP 3.45% @ 15.31
Oil closed @ $105.43
Gold closed @ $1642.90
S&P 500 closed @ 1394.28, after hitting a 2012 high of 1399.42
AH Futures Mixed
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, history tells us that we are in a strong bull market, this is based on strong economic data from US. As we all know that US was given a "guaranteed RECESSION" by know it all Roubini & Rosenberg, they were comparing to Depression in US????. Stay invested & think long term.
BLOG does NOT give buy or sell.
Saleem
All indices made higher highs......NICE !!!!
Bears are in serious trouble, as indices keep making new highs for 2012.
All indices were green again, after a huge move UP yesterday, a sure sign of runaway bull market.
Reading TAPE is not that difficult, especially in 2012.
Internals are mixed.
Oil Down 3 cents
Gold down $47.70
Canadian $ Down 29 tick @ 100.86
VIX UP 5.41% @ 15.60
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD,
Most stocks are down
@ 1.40 following are UP :
AAPL,CLF,COH,FIO,VMW,QCOM,GOOG,M,
MU,VECO,CRUS,SBUX,X,WYNN,SNE,MFC.
BLOG does NOT give buy or sell.
Saleem
All indices were green again, after a huge move UP yesterday, a sure sign of runaway bull market.
Reading TAPE is not that difficult, especially in 2012.
Internals are mixed.
Oil Down 3 cents
Gold down $47.70
Canadian $ Down 29 tick @ 100.86
VIX UP 5.41% @ 15.60
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD,
Most stocks are down
@ 1.40 following are UP :
AAPL,CLF,COH,FIO,VMW,QCOM,GOOG,M,
MU,VECO,CRUS,SBUX,X,WYNN,SNE,MFC.
BLOG does NOT give buy or sell.
Saleem
Tuesday, March 13, 2012
New closing highs for 2012 in all indices......NICE !!!!
Indices are making higher highs based on real momentum in US economy.
S&P 500 closed @ 1395.95, RSI @ 69.73.....
Indices closed UP 1.68% to 1.88%
Internals were :
UP volume led by 10.14 to 1 in NYSE & 7.60 to 1 in Nasdaq
Advancing stocks led by 4.39 to 1 in NYSE & 3.42 to 1 in Nasdaq
New 52 wk highs expanded, 191 in NYSE & 164 in Nasdaq
VIX tumbled 5.37% @ 14.80
Oil closed @ $106.71
Gold closed @ $1694.20
Stocks which were UP 4% or more included LEN,MS,
VMW,FFIV,TSL,MU,BRCM,JDSU,CIEN,FNSR,C.....
AH Futures Mixed
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE is on fire, there are some who like to play with fire like Doug Kass, who made his 4th appearance after his declaration of market TOP several weeks ago. Today he pretended to be an expert in a new short idea of XLF, last week it was his brilliant short idea of QQQQ. Bottom line is, this is a very strong bull market, got to stay the course.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1395.95, RSI @ 69.73.....
Indices closed UP 1.68% to 1.88%
Internals were :
UP volume led by 10.14 to 1 in NYSE & 7.60 to 1 in Nasdaq
Advancing stocks led by 4.39 to 1 in NYSE & 3.42 to 1 in Nasdaq
New 52 wk highs expanded, 191 in NYSE & 164 in Nasdaq
VIX tumbled 5.37% @ 14.80
Oil closed @ $106.71
Gold closed @ $1694.20
Stocks which were UP 4% or more included LEN,MS,
VMW,FFIV,TSL,MU,BRCM,JDSU,CIEN,FNSR,C.....
AH Futures Mixed
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE is on fire, there are some who like to play with fire like Doug Kass, who made his 4th appearance after his declaration of market TOP several weeks ago. Today he pretended to be an expert in a new short idea of XLF, last week it was his brilliant short idea of QQQQ. Bottom line is, this is a very strong bull market, got to stay the course.
BLOG does NOT give buy or sell.
Saleem
Indices UP .88% to 1.08% on Fed statement re global financial strain...
Fed is categorically saying for the first time, that global financial strains have eased.
Indices went to highs of the day after fed speak.
Internals are UP minimum 2 to 1
Oil UP 51 cents
Gold Down $5.70
Canadian $ UP 22 tick @ 100.98
VIX went to 5 year low @ 13.99, currently UP 1.66% @ 15.90
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD......
Most stocks are UP
@ 2.30 following are red :
AMZN,LULU,BWLD,GG,MA,V,JCP,
M,FIO,ABX,KGC,BJRI.....
BLOG does NOT give buy or sell.
Saleem
Indices went to highs of the day after fed speak.
Internals are UP minimum 2 to 1
Oil UP 51 cents
Gold Down $5.70
Canadian $ UP 22 tick @ 100.98
VIX went to 5 year low @ 13.99, currently UP 1.66% @ 15.90
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD......
Most stocks are UP
@ 2.30 following are red :
AMZN,LULU,BWLD,GG,MA,V,JCP,
M,FIO,ABX,KGC,BJRI.....
BLOG does NOT give buy or sell.
Saleem
Monday, March 12, 2012
Impressive close today.......NICE !!!!
Dow & S&P 500 closed green, Nasdaq down less than 5 points.
This is remarkable, after weak trade & retail data from China.
Internals were :
Down volume led by 1.48 to 1 in NYSE & 1.69 to 1 in Nasdaq
Declining stocks led by 1.17 to 1 in NYSE & 1.27 to 1 in Nasdaq
New 52 wk highs were in the lead, 105 in NYSE & 79 in Nasdaq
Oil closed @ $106.34
Gold closed @ $1699.80
VIX crashed 8.59% @ 15.64
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
Here is my weighting as of close :
AMZN 20.32%
CNQ 19.19%
RVBD 16.84%
RIMM 16.83%
MS 10.25%
OTEX 9.25%
LEN 7.32%
I have NOT sold a single share in any of my position since Mid January. Majority of my trade has been to add shares or buy new equity.
About market, it is becoming very clear even to skeptics like Adami ( who drops his target UP or DOWN like a clockwork, based on the day's close) that we are going higher. 1425 in S&P 500 is becoming a consensus number. I think, we may end UP higher than that in due course. It should be more profitable to "stay the course" than trying to time the market. NOT many technicians were able to time it in any "strong bull market".
BLOG does NOT give buy or sell.
Saleem
This is remarkable, after weak trade & retail data from China.
Internals were :
Down volume led by 1.48 to 1 in NYSE & 1.69 to 1 in Nasdaq
Declining stocks led by 1.17 to 1 in NYSE & 1.27 to 1 in Nasdaq
New 52 wk highs were in the lead, 105 in NYSE & 79 in Nasdaq
Oil closed @ $106.34
Gold closed @ $1699.80
VIX crashed 8.59% @ 15.64
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
Here is my weighting as of close :
AMZN 20.32%
CNQ 19.19%
RVBD 16.84%
RIMM 16.83%
MS 10.25%
OTEX 9.25%
LEN 7.32%
I have NOT sold a single share in any of my position since Mid January. Majority of my trade has been to add shares or buy new equity.
About market, it is becoming very clear even to skeptics like Adami ( who drops his target UP or DOWN like a clockwork, based on the day's close) that we are going higher. 1425 in S&P 500 is becoming a consensus number. I think, we may end UP higher than that in due course. It should be more profitable to "stay the course" than trying to time the market. NOT many technicians were able to time it in any "strong bull market".
BLOG does NOT give buy or sell.
Saleem
Constructive TAPE despite weak Chinese data......
Indices are mixed, with Nasdaq in small red, down .11%.
Chinese data was weak in terms of export & retail sales.
S&P 500 & Dow is green.
Internals are negative.
Oil Down $1.13
Gold Down $12.20
Canadian $ Down 29 tick @ 100.65
VIX Down 5.67% @ 16.14..sign of good things to come in equities.....
In my portfolio :
Added 50% CNQ @ $34.56
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
Exposure 149%
Most stocks are down
@ 2.02 following are green :
LEN,PCLN,GOOG,AAPL,FFIV,LULU,TIF,
SCCO,NYX,KOG,COH.....
BLOG does NOT give buy or sell.
Saleem
Chinese data was weak in terms of export & retail sales.
S&P 500 & Dow is green.
Internals are negative.
Oil Down $1.13
Gold Down $12.20
Canadian $ Down 29 tick @ 100.65
VIX Down 5.67% @ 16.14..sign of good things to come in equities.....
In my portfolio :
Added 50% CNQ @ $34.56
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
Exposure 149%
Most stocks are down
@ 2.02 following are green :
LEN,PCLN,GOOG,AAPL,FFIV,LULU,TIF,
SCCO,NYX,KOG,COH.....
BLOG does NOT give buy or sell.
Saleem
Sunday, March 11, 2012
Market dealt with important anniversaries........
Market was dealing with many anniversaries last week.
March 9th 2009 was the first one when S&P 500 was @ 666....
Japanese Tsunami is 1 year old, which disrupted many industrial production.
Greece had its 4th year of same old .
BUT...market has forgotten all past issues, as it looks ahead......
Greece "credit event" will entail $3.16 billion insurance payout, this is a small amount considering a big temporary resolution.
Market wants to go higher, despite overbought condition.
New buying should propel S&P 500 into 1400++++ area , this should bring more buyers & shorts to cover......1425 area looks like a very good possibility.
Greece issue is not going away, as it needs more & more funds. Greece is under close monitoring of many expectations. Greece needs to make major progress in its GDP ratios.......IF enough progress is not made, there may be severe ramification......
BUT...we have bought some time before Greece takes centre stage again.
Many traders were expecting sharp pullback, which has not materialized. Now that market is moving again, this should bring "panic participation".
Good luck with your strategy & your stock selection.
BLOG does NOT give buy or sell.
Saleem
March 9th 2009 was the first one when S&P 500 was @ 666....
Japanese Tsunami is 1 year old, which disrupted many industrial production.
Greece had its 4th year of same old .
BUT...market has forgotten all past issues, as it looks ahead......
Greece "credit event" will entail $3.16 billion insurance payout, this is a small amount considering a big temporary resolution.
Market wants to go higher, despite overbought condition.
New buying should propel S&P 500 into 1400++++ area , this should bring more buyers & shorts to cover......1425 area looks like a very good possibility.
Greece issue is not going away, as it needs more & more funds. Greece is under close monitoring of many expectations. Greece needs to make major progress in its GDP ratios.......IF enough progress is not made, there may be severe ramification......
BUT...we have bought some time before Greece takes centre stage again.
Many traders were expecting sharp pullback, which has not materialized. Now that market is moving again, this should bring "panic participation".
Good luck with your strategy & your stock selection.
BLOG does NOT give buy or sell.
Saleem
Friday, March 9, 2012
Indices closed UP 3 day's in a row despite Greece......NICE !!!!
This was suppose to be the week, when shorts would have laughed all the way to the bank, but instead they are crying @ home with huge margin calls. Never fight the TAPE, a lesson NOT learned by Kass, Adami & Prechter of the trading world.
Internals were :
UP volume led by 2.04 to 1 in NYSE & 2.62 to 1 in Nasdaq
Advancing stocks led by 2.34 to 1 in NYSE & 2.61 to 1 in Nasdaq
New 52 wk were in the lead, 150 in NYSE & 115 in Nasdaq
Oil closed @ $107.40
Gold closed @ $1711.50
VIX got trashed again, Down 4.68% @ 17.11
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
Stocks which were UP 1% oe more included MS,LEN,RIMM,
LULU,NTES,FFIV,APKT,TSL,CLF,LRCX,MU,BRCM,VECO,
FNSR,BZH,SNDK,CRUS,ARUN......
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
Internals were :
UP volume led by 2.04 to 1 in NYSE & 2.62 to 1 in Nasdaq
Advancing stocks led by 2.34 to 1 in NYSE & 2.61 to 1 in Nasdaq
New 52 wk were in the lead, 150 in NYSE & 115 in Nasdaq
Oil closed @ $107.40
Gold closed @ $1711.50
VIX got trashed again, Down 4.68% @ 17.11
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
Stocks which were UP 1% oe more included MS,LEN,RIMM,
LULU,NTES,FFIV,APKT,TSL,CLF,LRCX,MU,BRCM,VECO,
FNSR,BZH,SNDK,CRUS,ARUN......
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, March 8, 2012
Indices closed UP .55% to 1.18%........NICE !!!!
S&P 500 & Nasdaq erased all the losses from Tuesday in last two days.
S&P 500 closed @ 1365.91.
Internals were :
UP volume led by 5.49 to 1 in NYSE & 2.79 to 1 in Nasdaq
Advancing stocks led by 3.92 to 1 in NYSE & 2.72 to 1 in Nasdaq
New 52 wk highs were in the lead, 108 in NYSE & 72 in Nasdaq
Oil closed @ $106.58
Gold closed @ $1698.70
VIX Down 5.87% @ 17.95
Stocks which were UP 2% or more included AMZN,LEN,OTEX,RIMM,
LULU,COH,LVS,AAPL,CLF,
BWLD,TCK,AUY,SU,NTES,V,LRCX,
VECO,JDSU,CIEN,FNSR,C,BZH,CRUS,ARUN......
Chinese inflation came in lower than expected, expectation were 3.4%, actual 3.2%......this is 20 month low.......
AH Futures Down
AH Asian Markets UP
AH Oil & Gold UP
About market, there is a very good chance that we make a new 2012 high in all indices. Jimmy the Cramer admitted his wrong call that "market is in worse shape" after fighting for two days. Nobody can fight the TAPE. Next to fall in line is Adami & Kass all were expecting 1300 or less in S&P 500. This is a well defined bull market. Quick correction is all what you are going to get. This trend is entrenched since January 2012.
Jobs report should be a better than consensus.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1365.91.
Internals were :
UP volume led by 5.49 to 1 in NYSE & 2.79 to 1 in Nasdaq
Advancing stocks led by 3.92 to 1 in NYSE & 2.72 to 1 in Nasdaq
New 52 wk highs were in the lead, 108 in NYSE & 72 in Nasdaq
Oil closed @ $106.58
Gold closed @ $1698.70
VIX Down 5.87% @ 17.95
Stocks which were UP 2% or more included AMZN,LEN,OTEX,RIMM,
LULU,COH,LVS,AAPL,CLF,
BWLD,TCK,AUY,SU,NTES,V,LRCX,
VECO,JDSU,CIEN,FNSR,C,BZH,CRUS,ARUN......
Chinese inflation came in lower than expected, expectation were 3.4%, actual 3.2%......this is 20 month low.......
AH Futures Down
AH Asian Markets UP
AH Oil & Gold UP
About market, there is a very good chance that we make a new 2012 high in all indices. Jimmy the Cramer admitted his wrong call that "market is in worse shape" after fighting for two days. Nobody can fight the TAPE. Next to fall in line is Adami & Kass all were expecting 1300 or less in S&P 500. This is a well defined bull market. Quick correction is all what you are going to get. This trend is entrenched since January 2012.
Jobs report should be a better than consensus.
BLOG does NOT give buy or sell.
Saleem
Indices UP .57% to 1.07% on hope of Greece debt resolution...NICE !!!!
Indices are doing their usual thing of being UP, after 1 day of pullback.
S&P 500 high so far is 1365.79, only 12.26 points away from making another high in 2012.
Internals are positive by minimum 2 to 1.
Oil UP 69 cents
Gold UP $14.80
Canadian $ UP 66 tick @ 100.88
VIX taking another hit, Down 6.14% @ 17.90
In my portfolio :
Bought OTEX @ $59.49
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
Here is my weighting as of 10 minutes ago :
AMZN 21.84%
RVBD 18.05%
RIMM 17.92%
CNQ 13.86%
MS 10.80%
OTEX 9.95%
LEN 7.58%
Exposure 140%
Most stocks are UP
@ 1.35 following are RED :
NVDA,JCP,SNE....
BLOG does NOT give buy or sell.
Saleem
S&P 500 high so far is 1365.79, only 12.26 points away from making another high in 2012.
Internals are positive by minimum 2 to 1.
Oil UP 69 cents
Gold UP $14.80
Canadian $ UP 66 tick @ 100.88
VIX taking another hit, Down 6.14% @ 17.90
In my portfolio :
Bought OTEX @ $59.49
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD
Here is my weighting as of 10 minutes ago :
AMZN 21.84%
RVBD 18.05%
RIMM 17.92%
CNQ 13.86%
MS 10.80%
OTEX 9.95%
LEN 7.58%
Exposure 140%
Most stocks are UP
@ 1.35 following are RED :
NVDA,JCP,SNE....
BLOG does NOT give buy or sell.
Saleem
Wednesday, March 7, 2012
Indices closed UP .61% to .87%, recovering some of Tuesday's losses....NICE !!!
Indices closed UP today & recouped some of the losses from Tuesday.
S&P 500 closed @ 1352.63, only 25.41 points from recent high of 1378.04.......
Internals were :
UP volume led by 4.57 to 1 in NYSE & 3.94 to 1 in Nasdaq
Advancing stocks led by 3.70 to 1 in NYSE & 2.82 to 1 in Nasdaq
New 52 wk highs were in the lead, 52 in NYSE & 33 in Nasdaq
VIX Down 8.62% @ 19.07
Oil closed @ $106.16
Gold closed @ $1683.90
Stocks which were UP 3% or more included LEN,MS,
LULU,FIO,M,VECO,CIEN,C,BZH......
AH Futures Mixed
AH Asian Markets UP
AH Gold UP
AH Oil Down
About market, Strength of this market was obvious today, as there was NO confirmation of Tuesday's slump. Jimmy the Cramer was red faced / nervous & making excuses about today's rally. Doug Kass made his third weekly appearance to get help for his 4 wk old short. I wonder HOW he keeps coming back on a weekly basis?. Based on the TAPE today, where most Nasdaq high fliers were strong, it seems that shorts have more PAIN in the cards.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1352.63, only 25.41 points from recent high of 1378.04.......
Internals were :
UP volume led by 4.57 to 1 in NYSE & 3.94 to 1 in Nasdaq
Advancing stocks led by 3.70 to 1 in NYSE & 2.82 to 1 in Nasdaq
New 52 wk highs were in the lead, 52 in NYSE & 33 in Nasdaq
VIX Down 8.62% @ 19.07
Oil closed @ $106.16
Gold closed @ $1683.90
Stocks which were UP 3% or more included LEN,MS,
LULU,FIO,M,VECO,CIEN,C,BZH......
AH Futures Mixed
AH Asian Markets UP
AH Gold UP
AH Oil Down
About market, Strength of this market was obvious today, as there was NO confirmation of Tuesday's slump. Jimmy the Cramer was red faced / nervous & making excuses about today's rally. Doug Kass made his third weekly appearance to get help for his 4 wk old short. I wonder HOW he keeps coming back on a weekly basis?. Based on the TAPE today, where most Nasdaq high fliers were strong, it seems that shorts have more PAIN in the cards.
BLOG does NOT give buy or sell.
Saleem
Indices UP .61% to .96% after one day slump.....NICE !!!!
Indices are defying bears with "no follow through", indices are nicely UP.
Internals are strong with almost 3 to 1 positive.....
S&P 500 high so far is 1353.14, where it is trading now.......
Oil UP $1.43
Gold UP $11.60
Canadian $ UP 15 tick @ 99.99
VIX Down 6.66% @ 19.48
Portfolio is AMZN,CNQ (reports before open),LEN,MS,RIMM,RVBD
Most stocks are UP
@ 2.05 following are red :
CNQ,RIMM,FCX,GG.....
AAPL unveiled its iPad3 for $499...specification is much improved from iPad2.
Jimmy the Cramer sold majority of his portfolio when Dow was down 200 points & declared last night, "this market has CHANGED for the worse. This CHANGE, we can all live prosperously. First rule of investing, never sell on slumping day. Second, do not look "stupid very next day"...let us see how he weasel out of this retarded call?
BLOG does NOT give buy or sell.
Saleem
Internals are strong with almost 3 to 1 positive.....
S&P 500 high so far is 1353.14, where it is trading now.......
Oil UP $1.43
Gold UP $11.60
Canadian $ UP 15 tick @ 99.99
VIX Down 6.66% @ 19.48
Portfolio is AMZN,CNQ (reports before open),LEN,MS,RIMM,RVBD
Most stocks are UP
@ 2.05 following are red :
CNQ,RIMM,FCX,GG.....
AAPL unveiled its iPad3 for $499...specification is much improved from iPad2.
Jimmy the Cramer sold majority of his portfolio when Dow was down 200 points & declared last night, "this market has CHANGED for the worse. This CHANGE, we can all live prosperously. First rule of investing, never sell on slumping day. Second, do not look "stupid very next day"...let us see how he weasel out of this retarded call?
BLOG does NOT give buy or sell.
Saleem
Tuesday, March 6, 2012
Indices closed down 1.36% to 1.57%......
Indices retreated in a hurry, as worries abour China & Greece came into focus.
S&P 500 low today was 1340.03, closing @ 1343.36
Internals were :
Down volume led by 25.42 to 1 in NYSE & 6.61 to 1 in Nasdaq
Declining stocks led by10.62 to 1 in NYSE & 4.89 to 1 in Nasdaq
New 52 wk lows were in the lead, 30 in NYSE & 44 in Nasdaq
VIX jumped 15.62% @ 20.87
Oil closed @ $104.70
Gold closed @ $1672.10
AH Futures UP
AH Asian markets down
AH Oil & Gold UP
About market, we had a correction of 2.52% from absolute high to today's close in S&P 500. RSI are extremely attractive now Dow 43.93, S&P 500 47.80, Nasdaq 50.32...they are all in BUY zone. In a fast bull market, corrections are done & over with in couple of days. Either you can sit tight & be part of new UP move or buy in quickly to participate.
BLOG does NOT give buy or sell.
Saleem
S&P 500 low today was 1340.03, closing @ 1343.36
Internals were :
Down volume led by 25.42 to 1 in NYSE & 6.61 to 1 in Nasdaq
Declining stocks led by10.62 to 1 in NYSE & 4.89 to 1 in Nasdaq
New 52 wk lows were in the lead, 30 in NYSE & 44 in Nasdaq
VIX jumped 15.62% @ 20.87
Oil closed @ $104.70
Gold closed @ $1672.10
AH Futures UP
AH Asian markets down
AH Oil & Gold UP
About market, we had a correction of 2.52% from absolute high to today's close in S&P 500. RSI are extremely attractive now Dow 43.93, S&P 500 47.80, Nasdaq 50.32...they are all in BUY zone. In a fast bull market, corrections are done & over with in couple of days. Either you can sit tight & be part of new UP move or buy in quickly to participate.
BLOG does NOT give buy or sell.
Saleem
Indices down 1.64% on global slowdown & Greece refinancing.....
China growth warning announcement yesterday from 8% to 7.5% is having a toll again. Greece is back in picture with refinancing of debt. This is taking a toll in indices which are @ lows of the day.
S&P 500 low so far is 1342.13....
RSI @ 47.40
VIX jumping by 15.07% @ 20.77
Oil down $2.04
Gold down $36.80
Canadian $ down 73 tick @ 99.81
Portfolio is AMZN,CNQ,LEN,MS,RIMM,RVBD
Internals are :
Internals are negative 10.93 to 1 in NYSE, 5.24 to 1 in Nasdaq
New 52 wk high / lows are mixed
Most stocks are down
Blog does Not give buy or sell.
Saleem
S&P 500 low so far is 1342.13....
RSI @ 47.40
VIX jumping by 15.07% @ 20.77
Oil down $2.04
Gold down $36.80
Canadian $ down 73 tick @ 99.81
Portfolio is AMZN,CNQ,LEN,MS,RIMM,RVBD
Internals are :
Internals are negative 10.93 to 1 in NYSE, 5.24 to 1 in Nasdaq
New 52 wk high / lows are mixed
Most stocks are down
Blog does Not give buy or sell.
Saleem
Monday, March 5, 2012
China warns on growth, indices down .86% max ?
Indices were deeply overbought & then China timed it perfectly to warn on its GDP growth.
So shorts & bears were delighted @ their chance to make serious money, but funny thing happened as afternoon trading started, there were many buyers for every seller.
S&P 500 went down to 1359.13, by close we were @ 1364.33 which is a pullback of 5.30 points or .39%....
Internals were :
Down volume led by 1.99 to 1 in NYSE & 2.92 to 1 in Nasdaq
Declining stocks led by 1.48 to 1 in NYSE & 1.19 to 1 in Nasdaq
New 52 wk highs were in the lead, 74 in NYSE & 49 in Nasdaq
VIX closed UP 4.4% @ 18.05
Oil closed @ $106.72
Gold closed @ $1703.90
AH Futures Down
AH Asian markets Down
AH Oil & Gold UP
About market, resiliency of this market was obvious today. Given Chinese shocker, market barely gave anything in terms of pullback. IF market do not go down on a "surprise negative news" from China, then its strength should be of comfort to those, who are not so sure about bulls longevity.
BLOG does NOT give buy or sell.
Saleem
So shorts & bears were delighted @ their chance to make serious money, but funny thing happened as afternoon trading started, there were many buyers for every seller.
S&P 500 went down to 1359.13, by close we were @ 1364.33 which is a pullback of 5.30 points or .39%....
Internals were :
Down volume led by 1.99 to 1 in NYSE & 2.92 to 1 in Nasdaq
Declining stocks led by 1.48 to 1 in NYSE & 1.19 to 1 in Nasdaq
New 52 wk highs were in the lead, 74 in NYSE & 49 in Nasdaq
VIX closed UP 4.4% @ 18.05
Oil closed @ $106.72
Gold closed @ $1703.90
AH Futures Down
AH Asian markets Down
AH Oil & Gold UP
About market, resiliency of this market was obvious today. Given Chinese shocker, market barely gave anything in terms of pullback. IF market do not go down on a "surprise negative news" from China, then its strength should be of comfort to those, who are not so sure about bulls longevity.
BLOG does NOT give buy or sell.
Saleem
Indices down .29% to 1.08% on slower growth in China & Europe.....
China is predicting slower GDP growth @ 7.5%, lowest growth since 2004. European economic picture is also weaker.
The above news sparked selling.
Internals are weaker, declining stocks are in the lead by max 1.74 to 1 in NYSE, & 1.39 to 1 in Nasdaq.
S&P 500 low today is 1359.13, this is 18.91 points correction from absolute high of 1378.04 or down 1.37%.....RSI is 59.99
Oil UP 4 cents
Gold Down $8.50
Canadian $ Down 50 tick @ 100.61
VIX UP 6.25% @ 18.37
Portfolio is AMZN,CNQ,LEN,MS,RIMM,RVBD
Most stocks are down
@ 2.00 following are green :
AMZN,TJX,BWLD,MA,M,SBUX,
NDAQ,BJRI.......
BLOG does NOT give buy or sell.
Saleem
The above news sparked selling.
Internals are weaker, declining stocks are in the lead by max 1.74 to 1 in NYSE, & 1.39 to 1 in Nasdaq.
S&P 500 low today is 1359.13, this is 18.91 points correction from absolute high of 1378.04 or down 1.37%.....RSI is 59.99
Oil UP 4 cents
Gold Down $8.50
Canadian $ Down 50 tick @ 100.61
VIX UP 6.25% @ 18.37
Portfolio is AMZN,CNQ,LEN,MS,RIMM,RVBD
Most stocks are down
@ 2.00 following are green :
AMZN,TJX,BWLD,MA,M,SBUX,
NDAQ,BJRI.......
BLOG does NOT give buy or sell.
Saleem
Saturday, March 3, 2012
Almost 12 years ago.......
On March 10th, 2000....Nasdaq closed @ 5048.62
On March 24th, 2000.....Nasdaq high was 5078.86
That was almost 12 years ago.......
12 years ago, there was "deafening euphoria" about markets prospect.
Sky was the limit....
Sales did not matter
Earnings did not matter
Eyeballs were the only measurement tool
NY cabbies were making more money in markets than many other professionals
Every small investor was in the market with all their money, borrowed & all.......
We all know, how that movie ended......
For next 2.5 yrs market went straight down, low of 1108.49 was made on October 10th, 2002...that was a loss of 3970.37 points or a loss of 78.17%...these are all Nasdaq points from high of 5078.86......
BUT from October 10th 2002 low, we went UP for next 5 years to 2859.12 by October 31st 2007...a gain of 1750.63 points or a gain of 157.93%.........
SO.....here we are in March of 2012 & we have moved UP to 2976.19 points in 4.5 years.....a gain of 117.07 points or a whopping gain of 4.09% in 4.5 years........
SO...in this rally of 2012, we have very little participation by retail. Small investors are so scared, that they do not want any part of this "dramatic / orchestrated rally"..........?????
SO..how great of a rally was this, since end of the year?
IF we look @ S&P 500 stocks, a conservative sample......
On Dec 30th, 2011..... S&P 500 closed @ 1257.60
On March 2nd, 2012...S&P 500 closed @ 1369.63
Total gain in 2 months & 2 days = 112.03 or a HUGE GAIN of 8.91%.......some stocks do that in 10 mts of trading?
BUT if you ask any participant, they have a "universal opinion" that we have come too far too fast.....I wish this statement was factually true...
This is the very reason, that we have lot of room on the upside.
The more small investors are skeptical, higher this rally will go.
Small investors have a predictable track record of selling near lows & buying near HIGHS........
SO..when your neighbour / cab driver is invested & talking about stocks, then you know ..its time to sell....currently, there is a deafening silence from those two group of indicator.....???
Currently, Kass, Adami & most traders are expecting a pullback. Jimmy the Cramer saying nothing will happen until jobs report & indices will be under pressure.
Jobs report is expected to be above consensus of 210,000.........
Bottom line is.....think next 5 years & you may have a chance to be UP HUGE......
In a five year period from 2002 to 2007...some stocks were UP 6012% CELL or 5269% AKAM or a lowly 2591% for poor AAPL.......
Some food for thought, for this weekend.
BLOG does NOT give buy or sell.
Saleem
On March 24th, 2000.....Nasdaq high was 5078.86
That was almost 12 years ago.......
12 years ago, there was "deafening euphoria" about markets prospect.
Sky was the limit....
Sales did not matter
Earnings did not matter
Eyeballs were the only measurement tool
NY cabbies were making more money in markets than many other professionals
Every small investor was in the market with all their money, borrowed & all.......
We all know, how that movie ended......
For next 2.5 yrs market went straight down, low of 1108.49 was made on October 10th, 2002...that was a loss of 3970.37 points or a loss of 78.17%...these are all Nasdaq points from high of 5078.86......
BUT from October 10th 2002 low, we went UP for next 5 years to 2859.12 by October 31st 2007...a gain of 1750.63 points or a gain of 157.93%.........
SO.....here we are in March of 2012 & we have moved UP to 2976.19 points in 4.5 years.....a gain of 117.07 points or a whopping gain of 4.09% in 4.5 years........
SO...in this rally of 2012, we have very little participation by retail. Small investors are so scared, that they do not want any part of this "dramatic / orchestrated rally"..........?????
SO..how great of a rally was this, since end of the year?
IF we look @ S&P 500 stocks, a conservative sample......
On Dec 30th, 2011..... S&P 500 closed @ 1257.60
On March 2nd, 2012...S&P 500 closed @ 1369.63
Total gain in 2 months & 2 days = 112.03 or a HUGE GAIN of 8.91%.......some stocks do that in 10 mts of trading?
BUT if you ask any participant, they have a "universal opinion" that we have come too far too fast.....I wish this statement was factually true...
This is the very reason, that we have lot of room on the upside.
The more small investors are skeptical, higher this rally will go.
Small investors have a predictable track record of selling near lows & buying near HIGHS........
SO..when your neighbour / cab driver is invested & talking about stocks, then you know ..its time to sell....currently, there is a deafening silence from those two group of indicator.....???
Currently, Kass, Adami & most traders are expecting a pullback. Jimmy the Cramer saying nothing will happen until jobs report & indices will be under pressure.
Jobs report is expected to be above consensus of 210,000.........
Bottom line is.....think next 5 years & you may have a chance to be UP HUGE......
In a five year period from 2002 to 2007...some stocks were UP 6012% CELL or 5269% AKAM or a lowly 2591% for poor AAPL.......
Some food for thought, for this weekend.
BLOG does NOT give buy or sell.
Saleem
Friday, March 2, 2012
Indices closed down .02% to .43%......
Indices closed down, as energy stocks came under pressure. Today was also weekly option expiry.
Internals were :
Down volume led by 1.71 to 1 in NYSE & 1.63 to 1 in Nasdaq
Declining stocks led by 2.03 to 1 in NYSE & 2.44 to 1 in Nasdaq
New 52 wk highs were in the lead, 108 in NYSE & 72 in Nasdaq
Oil closed down @ $106.50
Gold closed down @ $1712.40
Canadian $ closed down 39 tick @ 101.12
VIX closed UP a whopping .03 tick or UP .17% @ 17.29?????
Portfolio is AMZN,CNQ,LEN,MS,RIMM,RVBD......
Stocks which closed UP 1% or more included RIMM,
PCLN,FIO,BIDU,WYNN.....
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
Internals were :
Down volume led by 1.71 to 1 in NYSE & 1.63 to 1 in Nasdaq
Declining stocks led by 2.03 to 1 in NYSE & 2.44 to 1 in Nasdaq
New 52 wk highs were in the lead, 108 in NYSE & 72 in Nasdaq
Oil closed down @ $106.50
Gold closed down @ $1712.40
Canadian $ closed down 39 tick @ 101.12
VIX closed UP a whopping .03 tick or UP .17% @ 17.29?????
Portfolio is AMZN,CNQ,LEN,MS,RIMM,RVBD......
Stocks which closed UP 1% or more included RIMM,
PCLN,FIO,BIDU,WYNN.....
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, March 1, 2012
Indices closed UP .22% to .74%......NICE !!!!
Indices turned UP on a dime, after profit taking yesterday.
Did you notice, that nobody was panicking about Ben Bernanke today?
Internals were:
UP volume led by 2.49 to 1 in NYSE & 2.17 to 1 in Nasdaq
Advancing stocks led by 2.04 to 1 in NYSE & 1.32 to 1 in Nasdaq
New 52 wks were in the lead, 148 in NYSE & 79 in Nasdaq
VIX tumbled 6.35% @ 17.26
Oil closed @ $108.84
Gold closed @ $1722.20
Stocks which closed UP 2% or more included CNQ,MS,RVBD,
LULU,GES,COH,WYNN,LVS,CLF,SNDK,FIO,GG,VMW,
VECO,JDSU,FNSR,C,BZH,M,MGA.....
AH Futures UP
AH Asian markets UP
AH Oil & Gold UP
About market, most trader may not realize, that we are making new closing highs every other day including today. Market strength is judged by how we close, never lose sight of that.It is OK to play market technician, but do not take your conclusion seriously.
This market is beyond analysis by majority. Watch CNBC & see how bearish predictions are proven by market forces. Doug Kass, Robert Prechter have repeatedly tried to call a TOP, we all know how that has panned out.
Please go with flow of TAPE & do NOT panic @ intraday reversals, these will happen repeatedly. So far we have NOT gone down more than 15 points in S&P 500.
BLOG does NOT give buy or sell.
Saleem
Did you notice, that nobody was panicking about Ben Bernanke today?
Internals were:
UP volume led by 2.49 to 1 in NYSE & 2.17 to 1 in Nasdaq
Advancing stocks led by 2.04 to 1 in NYSE & 1.32 to 1 in Nasdaq
New 52 wks were in the lead, 148 in NYSE & 79 in Nasdaq
VIX tumbled 6.35% @ 17.26
Oil closed @ $108.84
Gold closed @ $1722.20
Stocks which closed UP 2% or more included CNQ,MS,RVBD,
LULU,GES,COH,WYNN,LVS,CLF,SNDK,FIO,GG,VMW,
VECO,JDSU,FNSR,C,BZH,M,MGA.....
AH Futures UP
AH Asian markets UP
AH Oil & Gold UP
About market, most trader may not realize, that we are making new closing highs every other day including today. Market strength is judged by how we close, never lose sight of that.It is OK to play market technician, but do not take your conclusion seriously.
This market is beyond analysis by majority. Watch CNBC & see how bearish predictions are proven by market forces. Doug Kass, Robert Prechter have repeatedly tried to call a TOP, we all know how that has panned out.
Please go with flow of TAPE & do NOT panic @ intraday reversals, these will happen repeatedly. So far we have NOT gone down more than 15 points in S&P 500.
BLOG does NOT give buy or sell.
Saleem
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