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
Hey Saleem,
ReplyDeleteBought everything today and here's what it looks like:
APKT - 9.6%
CLF - 9.5%
MS - 9.4%
RVBD - 9.4%
DOW - 9.3%
FCX - 9.2%
CF - 9.1%
APWC - 2.3%
(cash) - 32.2%
The cash is stuck until Tuesday due to the 24 hour flip I made with those funds. Overall, I was very lucky to have cashed out prior to the big down day so I was able to everything back lower despite missing the bottom of the dips. The only thing that has run far away from me is LEN--great pick for you, Saleem!
Hopefully we see some more positive news over the weekend. Have a great one! :)
Stocktrader
Hi Stocktrader,
ReplyDeleteTiming is everything in market & life....nice that it worked out pretty good for you.
32%+ cash is nice to have for Tuesday, which is after 1 trading day.
Your system of trading is very good, even allocation among many good stock.
LEN & OTEX are my only 2/7 winner so far...it has been a very long wait for others to pan out.....
Have a nice weekend !!!!
Saleem
SALEEM
ReplyDeletewow what a week in the stock market
I still have 20% cash
Still looking for APPLE to come in
Have a fantastic weekend
Best to all
C
Hi C,
ReplyDeleteYES..we had a very big comeback in market.....good omen for great things to come.
Many stocks are back to bargain level......
Saleem