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
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15 comments:

  1. cMarch 13, 2012 at 4:52 AM

    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

    ReplyDelete
  2. Stocks100March 13, 2012 at 5:21 AM

    Hi C,

    AAPL has been in major bull run for a while...as they say "NEVER fight the TAPE"

    Saleem

    ReplyDelete
  3. stocktrader_1996March 13, 2012 at 6:03 AM

    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

    ReplyDelete
  4. cMarch 13, 2012 at 6:04 AM

    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

    ReplyDelete
  5. Stocks100March 13, 2012 at 6:14 AM

    Hi Stocktrader,

    Homework is important in locating new ideas & implementing it.

    Good luck in your new pick.

    Saleem

    ReplyDelete
  6. Stocks100March 13, 2012 at 6:16 AM

    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

    ReplyDelete
  7. cMarch 13, 2012 at 6:28 AM

    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

    ReplyDelete
  8. stocktrader_1996March 13, 2012 at 7:10 AM

    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

    ReplyDelete
  9. cMarch 13, 2012 at 7:22 AM

    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

    ReplyDelete
  10. Stocks100March 13, 2012 at 7:31 AM

    Hi Stocktrader,

    Good luck with FXCM.....

    Saleem

    ReplyDelete
  11. Stocks100March 13, 2012 at 7:33 AM

    Hi C,

    Great pick on AAPL 40 X $2...you are already GREEN....

    Saleem

    ReplyDelete
  12. stocktrader_1996March 13, 2012 at 8:18 AM

    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

    ReplyDelete
  13. Stocks100March 13, 2012 at 8:20 AM

    Hi Stocktrader,

    Good luck with well diversified portfolio.

    Saleem

    ReplyDelete
  14. cMarch 13, 2012 at 9:08 AM

    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

    ReplyDelete
  15. Stocks100March 13, 2012 at 9:39 AM

    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

    ReplyDelete