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
15 comments:
Good morning to all
Saleem
it seems that we are NOT going to get a big correction
I will try for some APPLE shares this morning
maybe premarket the share price is awesome
C
Hi C,
AAPL has been in major bull run for a while...as they say "NEVER fight the TAPE"
Saleem
Hey Saleem,
There aren't too many stocks in my normal following that I'm interested in currently, so I did a little work last night. Some interesting stocks I came upon were FXCM and PMTC. I might take half+ positions in them today. (I also might do some MET.)
Stocktrader
SALEEM
Happy days are here again
Look at MS up in PM
Cramer pounded the table last night on APPLE and ETP
J Cramer made a compelling story as to why to buy some apple--basically way under priced!
Cheers
Hi Stocktrader,
Homework is important in locating new ideas & implementing it.
Good luck in your new pick.
Saleem
Hi C,
Cramer is also comfused with this markets as many others....first he said WAIT for AAPL as it always sells off @ product announcement..but history never repeats in strong bull market.
YES..AAPL is a very good stock..but you need to have a long term approach or else it may frustrate you in short term.....
Good luck with AAPL.....
Saleem
SALEEM
I will not chase today
I do have an itchy trigger finger :)
You are oh so right that APPLE could be a long term hold with lots of up and down action..
If I do not get APPLE I am looking at ABT and SFL
Cramer says hi is buying ETP and ABT
But, Cramer is a shrill!!!!!!!
Thanks for your v important feedback
Hey Saleem,
Picked up FXCM at 10.31--still looking at PMTC and MET for today. MET is already up a lot, so not sure about my entry...
Stocktrader
To all
Saleem
WOW oh wow
I bit the bullet
got APPLE at $555.80 low of day --so sorry only 40 shares!!!
my MCD is mean and Green--like me :)-:)
V best to all
C
PS CNBC says we got a low volume participation in the stock market and only Thursday may change the volume with stress test numbers --I do not agree
Looks like we got volume to me
Hi Stocktrader,
Good luck with FXCM.....
Saleem
Hi C,
Great pick on AAPL 40 X $2...you are already GREEN....
Saleem
Hey Saleem,
Bought MET at 38.58, GHDX at 31.39, and PMTC at 27.90. Some of this was chasing a little, but the breakout on the S&P looks great.
Stocktrader
Hi Stocktrader,
Good luck with well diversified portfolio.
Saleem
SALEEM
WOW CNBC "Jefferies rasied APPLE target to $699
whoa YaHoo!! iPad and Apple TV are up huge apparently apple TV is under production in China! Also iPhone 5 is coming in June. Also prediction for a dividend---this year............
Would you consider getting on board ??
MS is a rocken --congratulations --now for some CNQ pop
Hi C,
I have no problem getting on board any stock.
Currently i am stuck with many laggard.....
I have to see how market TAPE is forming first.....
Saleem
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