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
15 comments:
Saleem
Good Day kind sir:
APPLE so far is up 12% for me----Nice
Looking at SLF for a buy and or SLF. I am stuck on which to buy
Copper and gold are down today
Why do ya like OTEX?
thanks
Hi C,
It is a high profit small float software company.
There is a chance that SAP may be interested in them or ORCL or IBM
Last time i took a small loss & sold before ER.....now trying again....it jumped 14% after last ER......with me sold 2 days before ER.....
Saleem
Saleem
thanks for analysis
J the Cramer says that the market is headed a lot higher
and we will not see a sell off?
If ya can watch his show last night he talks about market direction.
He say the Dow Transportation is going higher and SPX is going to 1500
C
Hi C,
I do not have CNBC for 3 years....
I only watch few clips on internet after 8 PM.....
Jimmy the Cramer is back on right track after fighting TAPE for months.....famous line " i cannot endorse any rally unless 10 things change...by the time two things change market was UP for 3 months......
Saleem
Saleem
wow I remember that commentary v well--he does it it wrong--big time.
thanks for the reminder
Here is a link on FCX: enjoy
7 Reasons Why Freeport-McMoRan Shares Could Jump 65%
http://seekingalpha.com/article/461571-7-reasons-why-freeport-mcmoran-shares-could-jump-65?source=yahoo
Saleem
Last night when I check on charts that I was going to buy and guess what, I find nothing is good, so I think it is better to wait for the market to correct a little. By the way, last night, i got out of 150 shares of AMZN stock I bought when it hit 206 yesterday.
Hi Up,
Down day is good to add...I added 40% RIMM .....
May do more buying IF price is right.....
Saleem
Saleem
I was thinking adding RIMM tomorrow before market close, i suspect price will be better
Hi Up,
Generally in a beaten down stock like RIMM..it should be green from today's close & onwards......just my SUPER OPTIMISTIC THEORY....
Saleem
Hey Saleem,
A steel stock like STLD is benefitting both from lower iron ore/coal and lower natural gas prices. It's on my radar despite the overcapacity in steel for an economic recovery play.
Stocktrader
SALEEM
Looks like we are going a little lower
J Cramer was wrong about market direction......
Is RIMM really safe bet here? I like it a lot buy earning are soon??
Even my T is hit today1%
Dunno how long APPLE will be green
V best to ya
C
Hi Stocktrader,
I still like CLF in that sector.
Saleem
Hi C,
RIMM could be the-best bet going forward...imho.
Saleem
SALEEM
MS seems very over sold here! I like it...
thoughts
Appreciate it
I gotta go work on the boat for a while
C
Hi C,
MS is a very good trading stock....
Saleem
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