Month end faced many economic data which were weak, recession in Spain again & US data being weaker than expected.
S&P 500 closed @ 1397.91
Internals were :
Down volume led by 1.87 to 1 in NYSE & 1.45 to 1 in Nasdaq
Declining stocks led by 1.55 to 1 in NYSE & 1.96 to 1 in Nasdaq
New 52 wk highs were leading, 79 in NYSE & 93 in Nasdaq
Oil closed @ $104.87
Gold closed @ $1664.20
VIX closed @ 17.15
AH ER :
HLF Down 1.83%
FIRE UP 7.37%
AH Futures UP
AH Asian Markets mostly closed for May Day ( Labor Day)
AH Oil Down
AH Gold UP
Chinese PMI for April came in @ 53.3% which is @ highest level in over a year, but it is lower than expectations of 53.6%...BUT higher than March of 53.1%...other data were mixed, some weak some better. Export was better than expected. As most European Markets are also closed for May Day, it will be up to US & Canadian market to give reaction to Chinese Data.
BLOG does NOT give buy or sell.
Saleem
Monday, April 30, 2012
Indices down.24% to .67%, on weak economic data...
Indices are down by max .67% on weak Spanish & US economic data.
Internals are negative almost 2 to 1
Oil Down 44 cents
Gold Down 30 cents
Canadian $ Down 63 tick @ 101.26, Canadian GDP for Feb came in @ <.2%> vs expectations of +.2%
VIX UP 5.7% @ 17.25
Portfolio is COH,LSI,LVS,LNKD,RIMM,RVBD
Most stocks are Down
@ 1.39 following are green :
RIMM,LSI,FCX,PCLN,AMZN,CNQ,SU,SLW,
MS,VECO,C,AEM,GS,IBN.....
BLOG does NOT give buy or sell.
Saleem
Internals are negative almost 2 to 1
Oil Down 44 cents
Gold Down 30 cents
Canadian $ Down 63 tick @ 101.26, Canadian GDP for Feb came in @ <.2%> vs expectations of +.2%
VIX UP 5.7% @ 17.25
Portfolio is COH,LSI,LVS,LNKD,RIMM,RVBD
Most stocks are Down
@ 1.39 following are green :
RIMM,LSI,FCX,PCLN,AMZN,CNQ,SU,SLW,
MS,VECO,C,AEM,GS,IBN.....
BLOG does NOT give buy or sell.
Saleem
Sunday, April 29, 2012
Most indices are looking @ new 2012 highs......
Indices are in a strong uptrend, which should take them to new 2012 highs.
Monday is month end, which should trigger buying by institutions.
All indices are 3 days away from making new 2012 high.
SO..there is a very good chance that 2012 highs may be here, before much dreaded jobs report.
Many pundits are fearful of this jobs report, i say, we are going higher based on technical strength.
SO...jobs report is a fundamental event & market is displaying "technical strength"...technical strength always trumps fundamental weakness......SO BE BOLD.....
This earning season has a "dual personality", sometimes bad is good or bad is very bad..it all depends IF there is a "short covering or not"......
My bet with earning season has a perfect 0-6 record, but it is not forcing me to sell, as i believe in their fundamental business trend, technical can take a back seat.
After we make series of new highs, it may be time to book gains & reduce exposure. I generally do not have this problem of booking gains, as most of my bets are off...so it is wait & wait scenario....who knows how it will end.....hopefully BETTER.
RSI in major indices are :
Nasdaq 56.29
S&P 500 57.47
Dow 58.36
As you can see that, resistance in the past, have been near 70 area, so watch out for that.
SO..it is another week of "happy traders"
Hoping, that we all get ahead, with this rally.
Good luck with your OWN strategy & market analysis.
PS....I am starting 6th year for this BLOG, this BLOG came into existence on April 15th, 2007. I have enjoyed sharing & interacting my thoughts with many visitors. Currently, there are 300 visitors on a daily basis, this is quite gratifying.
BLOG does NOT give buy or sell.
Saleem
Monday is month end, which should trigger buying by institutions.
All indices are 3 days away from making new 2012 high.
SO..there is a very good chance that 2012 highs may be here, before much dreaded jobs report.
Many pundits are fearful of this jobs report, i say, we are going higher based on technical strength.
SO...jobs report is a fundamental event & market is displaying "technical strength"...technical strength always trumps fundamental weakness......SO BE BOLD.....
This earning season has a "dual personality", sometimes bad is good or bad is very bad..it all depends IF there is a "short covering or not"......
My bet with earning season has a perfect 0-6 record, but it is not forcing me to sell, as i believe in their fundamental business trend, technical can take a back seat.
After we make series of new highs, it may be time to book gains & reduce exposure. I generally do not have this problem of booking gains, as most of my bets are off...so it is wait & wait scenario....who knows how it will end.....hopefully BETTER.
RSI in major indices are :
Nasdaq 56.29
S&P 500 57.47
Dow 58.36
As you can see that, resistance in the past, have been near 70 area, so watch out for that.
SO..it is another week of "happy traders"
Hoping, that we all get ahead, with this rally.
Good luck with your OWN strategy & market analysis.
PS....I am starting 6th year for this BLOG, this BLOG came into existence on April 15th, 2007. I have enjoyed sharing & interacting my thoughts with many visitors. Currently, there are 300 visitors on a daily basis, this is quite gratifying.
BLOG does NOT give buy or sell.
Saleem
Friday, April 27, 2012
Indices closed UP .18% to .61% in series of gains....NICE !!!!!
Indices closed UP again even on much dreaded weekly Option Expiry.
Internals were positive by 2 to 1
New 52 wk highs expanded their lead, 195 in NYSE & 131 in Nasdaq
S&P 500 closed @ 1403.36, RSI @ 57.47
Oil closed @ $104.93
Gold closed @ $1664.80
Canadian $ closed @ 7 month high @ 101.94
VIX closed @ 16.32
In my portfolio :
Added 60% LNKD @ $105.20
Portfolio is COH,LSI,LVS,LNKD,RIMM,RVBD
Here is my weighting as of close :
RIMM 34.64%
COH 27.38%
RVBD 17.34%
LNKD 10.84%
LVS 5.52%
LSI 4.28%
Exposure 115%
Stocks which were UP 2% or more included LNKD,
LEN,CNQ,PCLN,AMZN,FFIV,VECO,JDSU,ARUN,KORS.....
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
Internals were positive by 2 to 1
New 52 wk highs expanded their lead, 195 in NYSE & 131 in Nasdaq
S&P 500 closed @ 1403.36, RSI @ 57.47
Oil closed @ $104.93
Gold closed @ $1664.80
Canadian $ closed @ 7 month high @ 101.94
VIX closed @ 16.32
In my portfolio :
Added 60% LNKD @ $105.20
Portfolio is COH,LSI,LVS,LNKD,RIMM,RVBD
Here is my weighting as of close :
RIMM 34.64%
COH 27.38%
RVBD 17.34%
LNKD 10.84%
LVS 5.52%
LSI 4.28%
Exposure 115%
Stocks which were UP 2% or more included LNKD,
LEN,CNQ,PCLN,AMZN,FFIV,VECO,JDSU,ARUN,KORS.....
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, April 26, 2012
Most Indices closed UP 4 day's in a row...NICE !!!
Indices closed UP .67% to .87%.....
S&P 500 closed @ 1399.98
Internals were :
UP volume led by 2.16 to 1 in NYSE & 2.67 to 1 in Nasdaq
Advancing stocks led by 2.13 to 1 in NYSE & 1.62 to 1 in Nasdaq
New 52 wk highs were leading, 156 in NYSE & 88 in Nasdaq
Oil closed @ $104.55
Gold closed @ $1660.50
VIX closed @ 16.24
Stocks which were UP 2% or more included RIMM,LNKD,RVBD,
KORS,FFIV,VMW,LEN,LULU,WYNN,CRM,MA,LRCX,VECO,
CRUS.....
AH ER :
ZNGA Down .21%
CSTR Down 3.35%
SBUX Down 5.04%
FIO Down 7.00%
AEM UP 1.84%
AMZN UP 13.73%
AH Futures Down
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE is strong & earnings momentum continues. S&P high is 1422.38, that is where there is resistance. IF we go over it, then we are heading towards 1450 area. It is good to take advantage of this strength in market, which has surprised many, including me.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1399.98
Internals were :
UP volume led by 2.16 to 1 in NYSE & 2.67 to 1 in Nasdaq
Advancing stocks led by 2.13 to 1 in NYSE & 1.62 to 1 in Nasdaq
New 52 wk highs were leading, 156 in NYSE & 88 in Nasdaq
Oil closed @ $104.55
Gold closed @ $1660.50
VIX closed @ 16.24
Stocks which were UP 2% or more included RIMM,LNKD,RVBD,
KORS,FFIV,VMW,LEN,LULU,WYNN,CRM,MA,LRCX,VECO,
CRUS.....
AH ER :
ZNGA Down .21%
CSTR Down 3.35%
SBUX Down 5.04%
FIO Down 7.00%
AEM UP 1.84%
AMZN UP 13.73%
AH Futures Down
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE is strong & earnings momentum continues. S&P high is 1422.38, that is where there is resistance. IF we go over it, then we are heading towards 1450 area. It is good to take advantage of this strength in market, which has surprised many, including me.
BLOG does NOT give buy or sell.
Saleem
Most indices UP 3 day's in a row...NICE !!!!
Indices are UP nicely again, S&P 500 making it 3 day's in a row.
Indices UP .48% to .73%.....
Internals are positive.
Oil UP 32 cents
Gold UP $17.50
Canadian $ Down 8 tick @ 101.60
VIX Down 4.22% @ 16.11
In my portfolio :
Bought LSI @ $8.11
Portfolio is COH,LVS,LNKD,LSI,RIMM,RVBD
Most stocks are UP
@ 1.55 following are red :
LVS,LSI,BIDU,CLF,TCK,AAPL,MOS,GG,
BRCM,JDSU,CIEN,ARUN,FNSR,SNDK....
BLOG does NOT give buy or sell.
Saleem
Indices UP .48% to .73%.....
Internals are positive.
Oil UP 32 cents
Gold UP $17.50
Canadian $ Down 8 tick @ 101.60
VIX Down 4.22% @ 16.11
In my portfolio :
Bought LSI @ $8.11
Portfolio is COH,LVS,LNKD,LSI,RIMM,RVBD
Most stocks are UP
@ 1.55 following are red :
LVS,LSI,BIDU,CLF,TCK,AAPL,MOS,GG,
BRCM,JDSU,CIEN,ARUN,FNSR,SNDK....
BLOG does NOT give buy or sell.
Saleem
Wednesday, April 25, 2012
Indices closed UP .69% to 2.30%.......NICE !!!!
Indices closed UP in higher volume, thanks to AAPL ER.
S&P 500 closed @ 1390.69
RSI @ 53.15
CMF @ <0.006>
Internals were :
UP volume led by 3.77 to 1 in NYSE & 5.89 to 1 in Nasdaq
Advancing stocks led by 3.33 to 1 in NYSE & 2.80 to 1 in Nasdaq
New 52 wk highs expanded its lead, 127 in NYSE & 74 in Nasdaq
VIX closed @ 16.82
Oil closed @ $104.12
Gold closed @ $1642.30
Stocks which were UP 3% or more included RIMM,LNKD,LVS,
KORS,VMW,TCK,WYNN,PCLN,AAPL,CNQ,JCP,MOS,SLW,
MA,BRCM,SNDK,ARUN,CRUS......
AH ER :
LVS Down .9%
GG Down 2.36%
CLF Down 2.53%
AKAM Down 7.02%
LSI UP 4.51%
XLNX UP 7.36%
CTXS UP 7.49%
CRUS UP 7.84%
AH Futures UP
AH Asian Markets Mixed
AH Gold UP
AH Oil Down
About market, technical improvement is noted with all indices above 50 DMA in higher volume. CMF is positive in DOW & NASDAQ, barely negative in S&P 500. IBD is saying that "Market in Confirmed Uptrend". As they say "Never Fight The TAPE". AAPL ER has changed market sentiment in a big way, also Fed said the right thing "growth is here & will improve later".
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1390.69
RSI @ 53.15
CMF @ <0.006>
Internals were :
UP volume led by 3.77 to 1 in NYSE & 5.89 to 1 in Nasdaq
Advancing stocks led by 3.33 to 1 in NYSE & 2.80 to 1 in Nasdaq
New 52 wk highs expanded its lead, 127 in NYSE & 74 in Nasdaq
VIX closed @ 16.82
Oil closed @ $104.12
Gold closed @ $1642.30
Stocks which were UP 3% or more included RIMM,LNKD,LVS,
KORS,VMW,TCK,WYNN,PCLN,AAPL,CNQ,JCP,MOS,SLW,
MA,BRCM,SNDK,ARUN,CRUS......
AH ER :
LVS Down .9%
GG Down 2.36%
CLF Down 2.53%
AKAM Down 7.02%
LSI UP 4.51%
XLNX UP 7.36%
CTXS UP 7.49%
CRUS UP 7.84%
AH Futures UP
AH Asian Markets Mixed
AH Gold UP
AH Oil Down
About market, technical improvement is noted with all indices above 50 DMA in higher volume. CMF is positive in DOW & NASDAQ, barely negative in S&P 500. IBD is saying that "Market in Confirmed Uptrend". As they say "Never Fight The TAPE". AAPL ER has changed market sentiment in a big way, also Fed said the right thing "growth is here & will improve later".
BLOG does NOT give buy or sell.
Saleem
Indices UP .53% to 2.21% on upbeat ER from AAPL....
Indices are basking in the glow of AAPL ER, which was stellar.
All indices are above 50 DMA.
Internals are positive by 3 to 1
S&P 500 @ 1389.55
Fed minutes noted improvement in Jobs, now forecasting 7.8 to 8% vs 8.2% to 8.5%...
Oil UP 84 cents
Gold Down 90 cents
Canadian $ UP 33 tick @ 101.61
VIX Down 5.08% @ 17.18
In my portfolio :
Bought LVS @ $57.41
Portfolio is COH,LVS,LNKD,RIMM,RVBD
Most stocks are UP
@ 2.26 following are down :
BIDU,FCX,MU,FNSR,NDAQ,SNE,IBN,GS,
GE,JNPR,CSCO,MS.....
BLOG does NOT give buy or sell.
Saleem
All indices are above 50 DMA.
Internals are positive by 3 to 1
S&P 500 @ 1389.55
Fed minutes noted improvement in Jobs, now forecasting 7.8 to 8% vs 8.2% to 8.5%...
Oil UP 84 cents
Gold Down 90 cents
Canadian $ UP 33 tick @ 101.61
VIX Down 5.08% @ 17.18
In my portfolio :
Bought LVS @ $57.41
Portfolio is COH,LVS,LNKD,RIMM,RVBD
Most stocks are UP
@ 2.26 following are down :
BIDU,FCX,MU,FNSR,NDAQ,SNE,IBN,GS,
GE,JNPR,CSCO,MS.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, April 24, 2012
indices closed mixed......
DOW & S&P 500 closed green, while Nasdaq closed down.
S&P 500 closed @ 1371.97
RSI 45.75
Internals were :
UP volume led by 2.43 to 1 in NYSE & .84 to 1 in Nasdaq
Advancing stocks led by 2.07 to 1 in NYSE & 1.77 to 1 in Nasdaq
52 wk highs were in the lead, 61 in NYSE & 54 in Nasdaq
Oil closed @ $103.55
Gold closed @ $1643.80
VIX closed @ 18.10
Stocks which were UP 1% or more included RIMM,
LEN,JCP,TCK,AMZN,GG,CIEN,ARUN......
AH ER :
BIDU Down 9.30%
PNRA UP 2.10%
AAPL UP 7.80%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, AAPL ER is giving lift to market sentiment. We may see gains for Wednesday session.Highly recommend booking any profit in AAPL or anywhere else. Market technicals are not strong & will remain challenged, based on seasonality.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1371.97
RSI 45.75
Internals were :
UP volume led by 2.43 to 1 in NYSE & .84 to 1 in Nasdaq
Advancing stocks led by 2.07 to 1 in NYSE & 1.77 to 1 in Nasdaq
52 wk highs were in the lead, 61 in NYSE & 54 in Nasdaq
Oil closed @ $103.55
Gold closed @ $1643.80
VIX closed @ 18.10
Stocks which were UP 1% or more included RIMM,
LEN,JCP,TCK,AMZN,GG,CIEN,ARUN......
AH ER :
BIDU Down 9.30%
PNRA UP 2.10%
AAPL UP 7.80%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, AAPL ER is giving lift to market sentiment. We may see gains for Wednesday session.Highly recommend booking any profit in AAPL or anywhere else. Market technicals are not strong & will remain challenged, based on seasonality.
BLOG does NOT give buy or sell.
Saleem
Nasdaq weak ahead of AAPL ER......
Nasdaq is down .6% ahead of a key earning report from AAPL.
DOW & S&P 500 staying green.....
Internals are positive even in Nasdaq
New 52 wk highs are leading in both NYSE & Nasdaq
Oil UP 17 cents
Gold UP $10.90
Canadian $ UP 20 tick @ 101.13
VIX Down 1.63% @ 18.66
Portfolio is COH,LNKD,RIMM,RVBD
COH ER before open, was a beat in Sales & EPS. Guiding numbers in conference call was upbeat, but stock is down 5.62%......
Most stocks are UP
@ 2.12 following are down :
COH,LNKD,KORS,LVS,BIDU,PCLN,AAPL,
FFIV,VMW,LULU,CMG,CRM,MA,BRCM,
CRUS,NTES,AGU....
BLOG does NOT give buy or sell.
Saleem
DOW & S&P 500 staying green.....
Internals are positive even in Nasdaq
New 52 wk highs are leading in both NYSE & Nasdaq
Oil UP 17 cents
Gold UP $10.90
Canadian $ UP 20 tick @ 101.13
VIX Down 1.63% @ 18.66
Portfolio is COH,LNKD,RIMM,RVBD
COH ER before open, was a beat in Sales & EPS. Guiding numbers in conference call was upbeat, but stock is down 5.62%......
Most stocks are UP
@ 2.12 following are down :
COH,LNKD,KORS,LVS,BIDU,PCLN,AAPL,
FFIV,VMW,LULU,CMG,CRM,MA,BRCM,
CRUS,NTES,AGU....
BLOG does NOT give buy or sell.
Saleem
Monday, April 23, 2012
Indices closed down .78% to 1%......
April continues in a downtrend.
Indices closed down about 1%.
S&P 500 closed @ 1366.94
RSI 43.52
Internals of the market were :
Down volume led by 5.52 to 1 in NYSE & 4.96 to 1 in Nasdaq
Declining stocks led by 2.83 to 1 in NYSE & 3.22 to 1 in Nasdaq
New 52 wk lows were in the lead, 78 in NYSE & 68 in Nasdaq
Oil closed @ $103.11
Gold closed @ $1632.60
VIX closed @ 18.97
In my portfolio :
Bought 20% more COH @ $75.31
Portfolio is COH,LNKD,RIMM,RVBD
Exposure 100%
AH ER :
NFLX Down 16.58%
TXN UP 3.70%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, indices came back from lows of the day, this is a reversal which showed relative strength compared to European markets, which were down as much as 3.36%.
S&P @ low today was down about 4.47%, this low today was higher low than 1357.38 reached 10 trading day's ago. Based on today's TAPE it is expected, to get oversold bounce for few days.
BLOG does NOT give buy or sell.
Saleem
Indices closed down about 1%.
S&P 500 closed @ 1366.94
RSI 43.52
Internals of the market were :
Down volume led by 5.52 to 1 in NYSE & 4.96 to 1 in Nasdaq
Declining stocks led by 2.83 to 1 in NYSE & 3.22 to 1 in Nasdaq
New 52 wk lows were in the lead, 78 in NYSE & 68 in Nasdaq
Oil closed @ $103.11
Gold closed @ $1632.60
VIX closed @ 18.97
In my portfolio :
Bought 20% more COH @ $75.31
Portfolio is COH,LNKD,RIMM,RVBD
Exposure 100%
AH ER :
NFLX Down 16.58%
TXN UP 3.70%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, indices came back from lows of the day, this is a reversal which showed relative strength compared to European markets, which were down as much as 3.36%.
S&P @ low today was down about 4.47%, this low today was higher low than 1357.38 reached 10 trading day's ago. Based on today's TAPE it is expected, to get oversold bounce for few days.
BLOG does NOT give buy or sell.
Saleem
Indices down 1.03% to 1.16%......
Indices are in a defined downtrend since start of April.
Indices are down over 1%
S&P 500 low so far is 1358.79
Internals are negative by 4 to 1
Oil Down $1.35
Gold Down $9.90
Canadian $ Down 12 tick @ 100.65
VIX UP 11.41% @ 19.43
In my portfolio :
Sold CNQ
Bought LNKD @ $99.48
Portfolio is COH,LNKD,RIMM,RVBD
Exposure 95%
Most stocks are down
@ 1.40 following are UP :
KORS,APKT,GOOG,AAPL,SNDK,CRUS....
BLOG does NOT give buy or sell.
Saleem
Indices are down over 1%
S&P 500 low so far is 1358.79
Internals are negative by 4 to 1
Oil Down $1.35
Gold Down $9.90
Canadian $ Down 12 tick @ 100.65
VIX UP 11.41% @ 19.43
In my portfolio :
Sold CNQ
Bought LNKD @ $99.48
Portfolio is COH,LNKD,RIMM,RVBD
Exposure 95%
Most stocks are down
@ 1.40 following are UP :
KORS,APKT,GOOG,AAPL,SNDK,CRUS....
BLOG does NOT give buy or sell.
Saleem
Sunday, April 22, 2012
Market technicals not looking healthy.......
US market has gone from healthy, to technically weak.
Most indices are below 50 DMA & showing negative CMF.
Dow is the only one barely hanging above 50 DMA & barely positive CMF.
It is extremely important to pay attention to fast deteriorating technical picture.
Many strong stocks are in correction territory, a correction is defined as 10% below its 52 wk high.
You can be as bullish as you want, but market reality is a major headwind.
Market gyration is a strong indicator of major outflow.
On any UP days, money is being taken out.
I will strongly recommend reducing exposure & locking any gains which may be there.
Daytrading or even put buying may be a better strategy for next three months. End of July may be a better time to be bullish again.
On a personal note, I have gone negative 4.56% in my stock performance for the year. The only saving grace is, that i am UP 23.50% YTD in my currency exposure. Overall i am UP 18.94% YTD.
RVBD TAPE was extremely disappointing & was subjected to a major selling by institutions. RVBD is expected to earn .97 cents FY12 & 1.19 in FY13..after all the downward revision by analysts, EPS is expected to grow by 22.7%. Stock price generally trade @ EPS growth rate. A fair value of RVBD $1.19 X 22.7% = $27.01...that is where it was trading on the day of its ER. Sales of RVBD is expected to GROW this year by 14.80% & in FY 13 by 17.40%.......all these figures are after revision by analysts. Based on these current revised numbers RVBD is a strong hold for ME.
It is time to "critically examine" your investing thesis, you need to have sound basis for your exposure.Market environment has certainly changed. One day rally is not going to alter technical picture.
Good luck with your OWN read of market & your comfort level.
BLOG does NOT give buy or sell.
Saleem
Most indices are below 50 DMA & showing negative CMF.
Dow is the only one barely hanging above 50 DMA & barely positive CMF.
It is extremely important to pay attention to fast deteriorating technical picture.
Many strong stocks are in correction territory, a correction is defined as 10% below its 52 wk high.
You can be as bullish as you want, but market reality is a major headwind.
Market gyration is a strong indicator of major outflow.
On any UP days, money is being taken out.
I will strongly recommend reducing exposure & locking any gains which may be there.
Daytrading or even put buying may be a better strategy for next three months. End of July may be a better time to be bullish again.
On a personal note, I have gone negative 4.56% in my stock performance for the year. The only saving grace is, that i am UP 23.50% YTD in my currency exposure. Overall i am UP 18.94% YTD.
RVBD TAPE was extremely disappointing & was subjected to a major selling by institutions. RVBD is expected to earn .97 cents FY12 & 1.19 in FY13..after all the downward revision by analysts, EPS is expected to grow by 22.7%. Stock price generally trade @ EPS growth rate. A fair value of RVBD $1.19 X 22.7% = $27.01...that is where it was trading on the day of its ER. Sales of RVBD is expected to GROW this year by 14.80% & in FY 13 by 17.40%.......all these figures are after revision by analysts. Based on these current revised numbers RVBD is a strong hold for ME.
It is time to "critically examine" your investing thesis, you need to have sound basis for your exposure.Market environment has certainly changed. One day rally is not going to alter technical picture.
Good luck with your OWN read of market & your comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, April 20, 2012
Indices closed mixed......
Indices closed mixed, despite good earnings report @ open.
S&P 500 closed @ 1378.53, closing below 50 DMA again...
CMF has turned negative @ <0.017>...first negative reading for 2012.
Internals were :
UP volume led by 1.01 to 1 in NYSE & .76 to 1 in Nasdaq
Advancing stocks led by 1.91 to 1 in NYSE & 1.49 to 1 in Nasdaq
New 52 wk highs were leading, 109 in NYSE & 59 in Nasdaq
VIX closed Down 5.01% @ 17.44
Oil closed @ $103.05
Gold close @ $1642.80
Canadian $ closed @ 100.77
In my portfolio :
Sold MS
Sold ZNGA
Portfolio is CNQ,COH,RIMM,RVBD
Here is my weighting @ close :
RVBD 17.21%
COH 24.12%
CNQ 24.66%
RIMM 34.01%
Exposure 118%
Stocks which were UP included COH, BIDU,LULU,LNKD,LEN,
MA,BWLD......
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1378.53, closing below 50 DMA again...
CMF has turned negative @ <0.017>...first negative reading for 2012.
Internals were :
UP volume led by 1.01 to 1 in NYSE & .76 to 1 in Nasdaq
Advancing stocks led by 1.91 to 1 in NYSE & 1.49 to 1 in Nasdaq
New 52 wk highs were leading, 109 in NYSE & 59 in Nasdaq
VIX closed Down 5.01% @ 17.44
Oil closed @ $103.05
Gold close @ $1642.80
Canadian $ closed @ 100.77
In my portfolio :
Sold MS
Sold ZNGA
Portfolio is CNQ,COH,RIMM,RVBD
Here is my weighting @ close :
RVBD 17.21%
COH 24.12%
CNQ 24.66%
RIMM 34.01%
Exposure 118%
Stocks which were UP included COH, BIDU,LULU,LNKD,LEN,
MA,BWLD......
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, April 19, 2012
Indices closed down .53% to .79% on weak US data...
Indices were under pressure as every US Data was below expectations, Housing Manufacturing & Jobless claims were all weak....
S&P 500 closed @ 1376.92, below 50 DMA of 1378.93
RSI @ 47.05
CMF @ 0.001
Internals were :
Down volume led by 1.88 to 1 in NYSE & 1.77 to 1 in Nasdaq
Declining stocks led by 1.43 to 1 in NYSE & 1.68 to 1 in Nasdaq
New 52 wk highs were leading, 60 in NYSE & 61 in Nasdaq
Oil closed @ $102.27
Gold closed @ $1641.40
VIX closed @ 18.36
AH ER :
SNDK Down 13.49%
RVBD Down 17.09%
CMG UP 1.52%
AMD UP 1.88%
MSFT UP 3.10%
RVBD Earnings for Q1, EPS in-line of 20 cents & Sales miss by $3 million. Guidance for Q2 is below expectations, 21 to 22 cents in EPS vs expectations of 24 cents, Sales for Q2 $193 to $197 million vs expectations of $202 million. AH RVBD traded 2,196,389 shares. I have not sold any shares. Support for RVBD $22.14, then $19.93......
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, technicals for S&P 500 is getting negative.Good idea to book any profit or rethink ones strategy in terms of portfolio. Market came back @ close but not enough to
avoid technical damage.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1376.92, below 50 DMA of 1378.93
RSI @ 47.05
CMF @ 0.001
Internals were :
Down volume led by 1.88 to 1 in NYSE & 1.77 to 1 in Nasdaq
Declining stocks led by 1.43 to 1 in NYSE & 1.68 to 1 in Nasdaq
New 52 wk highs were leading, 60 in NYSE & 61 in Nasdaq
Oil closed @ $102.27
Gold closed @ $1641.40
VIX closed @ 18.36
AH ER :
SNDK Down 13.49%
RVBD Down 17.09%
CMG UP 1.52%
AMD UP 1.88%
MSFT UP 3.10%
RVBD Earnings for Q1, EPS in-line of 20 cents & Sales miss by $3 million. Guidance for Q2 is below expectations, 21 to 22 cents in EPS vs expectations of 24 cents, Sales for Q2 $193 to $197 million vs expectations of $202 million. AH RVBD traded 2,196,389 shares. I have not sold any shares. Support for RVBD $22.14, then $19.93......
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, technicals for S&P 500 is getting negative.Good idea to book any profit or rethink ones strategy in terms of portfolio. Market came back @ close but not enough to
avoid technical damage.
BLOG does NOT give buy or sell.
Saleem
Indices down .39% to .44%.......
Indices are down as US weaker data is taking centre stage.
Spanish bond auction went better than feared, yield around 5.74%
Housing, jobless claims were negative.
Internals are weak
Oil down 2 cents
Gold UP $1.70
Canadian $ Down 30 tick @ 100.60
VIX UP .27% @ 18.69
Portfolio is CNQ,COH,MS,RIMM,RVBD,ZNGA
Most stocks are down
@ 1.45, following are UP :
CNQ,MS,RIMM,RVBD,TUMI,FFIV,APKT,
VMW,GOOG,AMZN,JCP,MOS,FIO,CRM,
VECO,ARUN,GG,CCJ,MFC,AGU.....
BLOG does NOT give buy or sell.
Saleem
Spanish bond auction went better than feared, yield around 5.74%
Housing, jobless claims were negative.
Internals are weak
Oil down 2 cents
Gold UP $1.70
Canadian $ Down 30 tick @ 100.60
VIX UP .27% @ 18.69
Portfolio is CNQ,COH,MS,RIMM,RVBD,ZNGA
Most stocks are down
@ 1.45, following are UP :
CNQ,MS,RIMM,RVBD,TUMI,FFIV,APKT,
VMW,GOOG,AMZN,JCP,MOS,FIO,CRM,
VECO,ARUN,GG,CCJ,MFC,AGU.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, April 18, 2012
Indices closed down .37% to .63%.......
Indices struggled whole day on European issues.
S&P 500 closed @ 1385.14
RSI 50.04
CMF +0.004
Internals were :
Down volume led by 2.21 to 1 in NYSE & 2.52 to 1 in Nasdaq
Declining stocks led by 2.02 to 1 in NYSE & 2.31 to 1 in Nasdaq
New 52 wk lead by 6 in NYSE & 2 in Nasdaq
Oil closed @ $102.67
Gold closed @ $1639.60
VIX closed @ 18.64
Stocks which closed UP 1% or more FCX,WYNN,LVS,CMG,
PCLN,LNKD,AMZN,CRM,NTES,TSL....
AH ER :
VMW UP 2.66%
FFIV UP 6.27%
EBAY UP 6.66%
QCOM Down 3.41%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, Indices are showing weakness frequently. CMF is getting very close to negative, which is not a sign of conviction. I am expecting weak TAPE to take hold after earning season is over. SO...sell in May may make sense.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1385.14
RSI 50.04
CMF +0.004
Internals were :
Down volume led by 2.21 to 1 in NYSE & 2.52 to 1 in Nasdaq
Declining stocks led by 2.02 to 1 in NYSE & 2.31 to 1 in Nasdaq
New 52 wk lead by 6 in NYSE & 2 in Nasdaq
Oil closed @ $102.67
Gold closed @ $1639.60
VIX closed @ 18.64
Stocks which closed UP 1% or more FCX,WYNN,LVS,CMG,
PCLN,LNKD,AMZN,CRM,NTES,TSL....
AH ER :
VMW UP 2.66%
FFIV UP 6.27%
EBAY UP 6.66%
QCOM Down 3.41%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, Indices are showing weakness frequently. CMF is getting very close to negative, which is not a sign of conviction. I am expecting weak TAPE to take hold after earning season is over. SO...sell in May may make sense.
BLOG does NOT give buy or sell.
Saleem
Indices heading south on European worries......
Indices are under pressure again, due to Italy & Spain.
Indices are down .47% to .61%
Internals are negative.
Oil Down $1.58
Gold Down $11.50
Canadian $ Down 12 tick @ 100.86
VIX UP 2.93% @ 19
Portfolio is CNQ,COH,MS,RIMM,RVBD,ZNGA
Most stocks are Down
@ 1.55 following are UP :
PCLN,LVS,WYNN,FCX,BIDU,FFIV,VMW,
TCK,CMG,AMZN,CRM,TSL,NTES,BWLD,
SBUX....
BLOG does NOT give buy or sell.
Saleem
Indices are down .47% to .61%
Internals are negative.
Oil Down $1.58
Gold Down $11.50
Canadian $ Down 12 tick @ 100.86
VIX UP 2.93% @ 19
Portfolio is CNQ,COH,MS,RIMM,RVBD,ZNGA
Most stocks are Down
@ 1.55 following are UP :
PCLN,LVS,WYNN,FCX,BIDU,FFIV,VMW,
TCK,CMG,AMZN,CRM,TSL,NTES,BWLD,
SBUX....
BLOG does NOT give buy or sell.
Saleem
Tuesday, April 17, 2012
Indices closed UP 1.50% to 1.82%......NICE !!!!
Indices closed UP due to Spain bond yield going for less than 6%.
S&P 500 closed @ 1390.78
RSI 52.14
Internals were :
UP volume led by 7.56 to 1 in NYSE & 6.87 to 1 in Nasdaq
Advancing stocks led by 3.40 to 1 in NYSE & 3.19 to 1 in Nasdaq
New 52 wk highs were in the lead, 82 in NYSE & 76 in Nasdaq
VIX closed Down 5.58% @ 18.46
Oil closed @ $104.20
Gold closed @ $1651.10
Stocks which were UP 2% or more included CNQ,MS,RVBD,
OTEX,LULU,FCX,FIO,AAPL,SU,NTES,APKT,TSL,VECO,
JDSU,CIEN,FNSR,C,CRUS,ARUN,LNKD.....
AH ER / News :
BRK.A Down 1.82%
IBM Down 2.42%
INTC Down 3.06%
YHOO UP 2.86%
STX UP 3.94%
ISRG UP 5.95%
AH Futures Down
AH Asian Markets UP
AH Oil & Gold UP
About market, indices seems to have corrected & found support & may move towards high end of the range. This is a market where it will gyrate every two days. Volatility is very high. For traders, encourage booking of profit, on second day of move.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1390.78
RSI 52.14
Internals were :
UP volume led by 7.56 to 1 in NYSE & 6.87 to 1 in Nasdaq
Advancing stocks led by 3.40 to 1 in NYSE & 3.19 to 1 in Nasdaq
New 52 wk highs were in the lead, 82 in NYSE & 76 in Nasdaq
VIX closed Down 5.58% @ 18.46
Oil closed @ $104.20
Gold closed @ $1651.10
Stocks which were UP 2% or more included CNQ,MS,RVBD,
OTEX,LULU,FCX,FIO,AAPL,SU,NTES,APKT,TSL,VECO,
JDSU,CIEN,FNSR,C,CRUS,ARUN,LNKD.....
AH ER / News :
BRK.A Down 1.82%
IBM Down 2.42%
INTC Down 3.06%
YHOO UP 2.86%
STX UP 3.94%
ISRG UP 5.95%
AH Futures Down
AH Asian Markets UP
AH Oil & Gold UP
About market, indices seems to have corrected & found support & may move towards high end of the range. This is a market where it will gyrate every two days. Volatility is very high. For traders, encourage booking of profit, on second day of move.
BLOG does NOT give buy or sell.
Saleem
Indices UP 1.54% to 1.93%.......NICE !!!!
Spanish bond auction giving boost to indices.
Indices UP almost 2%.
Internals are positive by minimum 4 to 1
New 52 wk highs leading again....
Oil UP $1.55
Gold UP $1.40
Canadian $ UP 1.18 cent @ 101.20, Bank of Canada signalling higher interest rates earlier than before, as Canadian economy is moving along nicely.
VIX Down 8.13% @ 17.96
In my portfolio:
Added 90% ZNGA @ $10.56.......trying to catch a falling knife ?
Portfolio is CNQ,COH,MS,RIMM,RVBD,ZNGA.....
Here is my real time weighting :
RIMM 28.45%
CNQ 21.15%
COH 20.02%
RVBD 19.89%
MS 5.73%
ZNGA 4.76%
Exposure 131%
Most stocks are UP
@ 2.05 following are red :
ZNGA,RIMM,LVS,BWLD,M,SBUX,GS.....
BLOG does NOT give buy or sell.
Saleem
Indices UP almost 2%.
Internals are positive by minimum 4 to 1
New 52 wk highs leading again....
Oil UP $1.55
Gold UP $1.40
Canadian $ UP 1.18 cent @ 101.20, Bank of Canada signalling higher interest rates earlier than before, as Canadian economy is moving along nicely.
VIX Down 8.13% @ 17.96
In my portfolio:
Added 90% ZNGA @ $10.56.......trying to catch a falling knife ?
Portfolio is CNQ,COH,MS,RIMM,RVBD,ZNGA.....
Here is my real time weighting :
RIMM 28.45%
CNQ 21.15%
COH 20.02%
RVBD 19.89%
MS 5.73%
ZNGA 4.76%
Exposure 131%
Most stocks are UP
@ 2.05 following are red :
ZNGA,RIMM,LVS,BWLD,M,SBUX,GS.....
BLOG does NOT give buy or sell.
Saleem
Monday, April 16, 2012
Indices closed mixed despite Nasdaq selling...NICE !!!!
Indices gave important signal, that market is bifurcating now. Even VIX was unchanged, on the day Nasdaq was decidedly weak.
Major pullbacks happening in AAPL,GOOG,PCLN while Dow was green.
On pullback in Nasdaq, is nothing but a healthy pause in an ongoing uptrend, all three stocks are reflecting earnings related reaction. It is advisable to WAIT until earning release on AAPL & PCLN...
S&P 500 closed @ 1369.57
Oil closed @ $102.93
Gold closed @ $1649.70
VIX closed @ 19.55
Internals were :
UP volume led by 1.08 to 1 in NYSE & .75 to 1 in Nasdaq
Advancing stocks led by 1.32 to 1 in NYSE & 1.09 to 1 in Nasdaq
New 52 wk lows were leading by 1 in NYSE & 4 in Nasdaq
AH Futures Down
AH Asian Markets UP
AH Oil & Gold UP
About market, this was a healthy pullback based on overbought condition, Chinese slowdown & Spanish yield. Every correction runs its course. Market character has changed due to seasonally weak period. Overachievers are relegated to background & new stocks are coming into focus. It looks like a rangebound trading where LOWS & HIGHS of the year may be @ hand until Q3.
BLOG does NOT give buy or sell.
Saleem
Major pullbacks happening in AAPL,GOOG,PCLN while Dow was green.
On pullback in Nasdaq, is nothing but a healthy pause in an ongoing uptrend, all three stocks are reflecting earnings related reaction. It is advisable to WAIT until earning release on AAPL & PCLN...
S&P 500 closed @ 1369.57
Oil closed @ $102.93
Gold closed @ $1649.70
VIX closed @ 19.55
Internals were :
UP volume led by 1.08 to 1 in NYSE & .75 to 1 in Nasdaq
Advancing stocks led by 1.32 to 1 in NYSE & 1.09 to 1 in Nasdaq
New 52 wk lows were leading by 1 in NYSE & 4 in Nasdaq
AH Futures Down
AH Asian Markets UP
AH Oil & Gold UP
About market, this was a healthy pullback based on overbought condition, Chinese slowdown & Spanish yield. Every correction runs its course. Market character has changed due to seasonally weak period. Overachievers are relegated to background & new stocks are coming into focus. It looks like a rangebound trading where LOWS & HIGHS of the year may be @ hand until Q3.
BLOG does NOT give buy or sell.
Saleem
Spain & US data putting downward pressure .....
Spain bond yielding 6% & lower manufacturing / housing numbers putting downward pressure. Nasdaq is weaker, leaders taking it on the chin.
Retail sales were strong but is not having any impact even on retailers.
Indices mixed
Internals are mixed
Oil Down 58 cents
Gold Down $11.40
Canadain $ Down 32 tick @ 99.72
VIX UP .77% @ 19.70...this indicates better picture for equities by close ?
Portfolio is CNQ,COH,MS,RIMM,RVBD,ZNGA
Most stocks are down
@ 1.10 following are green :
RVBD,MS,LRCX,MU,C,SU,CSIQ,X,SNE,GS,IBN....
BLOG does NOT give buy or sell.
Saleem
Retail sales were strong but is not having any impact even on retailers.
Indices mixed
Internals are mixed
Oil Down 58 cents
Gold Down $11.40
Canadain $ Down 32 tick @ 99.72
VIX UP .77% @ 19.70...this indicates better picture for equities by close ?
Portfolio is CNQ,COH,MS,RIMM,RVBD,ZNGA
Most stocks are down
@ 1.10 following are green :
RVBD,MS,LRCX,MU,C,SU,CSIQ,X,SNE,GS,IBN....
BLOG does NOT give buy or sell.
Saleem
Sunday, April 15, 2012
April off to a bad start, what is in store ?
First two weeks in April has alarmed many optimist.
S&P 500 is down 2.71% in 9 trading days.
Chinese Data in Q1 is less than expectations.
Chinese GDP in Q1 came in @ 8.1% growth, but Chinese target is 7.5% for the year...IF that is where we are heading, then Q2 & Q3 will be well below 8.1%......
Chinese Export are under severe pressure, latest currency tinkering on Saturday is not going to help it either. China has increased its band from .5% to 1% in terms of allowable swing. This means that Chinese currency can appreciate more against US$ & Euro. Its going to increase imports further.
Many optimist are trying to read Chinese data with no concern for their official target of 7.5% GDP growth.
I expect volatility to continue till end of July, resulting in lower lows & lower highs.
Individual investors are @ their lowest level of confidence in being bull in last six months, bullish reading @ 28% only.
CMF in majority of stocks and indices are heading towards negative. S&P 500 CMF @ only 0.055 lowest level in last 4 months.
April to September is traditionally weak period for US market, but due to US Presidential election, we may get some policy boost earlier. August may start to look bullish again.
This does not mean, that we should be out of this market, but it means to be extremely selective where we focus.
Many stocks may outperform during this weak period, based on improving fundamental.
I personally believe that commodities will not go up, unless Chinese economy improves from hereon.
Follow what is working on a day to day basis.
Here is a summary of how some of our portfolio fared in first two weeks of April. I have included some widely followed stocks also :
LVS +5.54%
CMG +5.36%
LNKD +5.15%
BIDU +3.84%
CF +1.97%
AAPL +.95%
CLF........0%
APKT <.04%>
LULU <1.63%>
FCX <2.04%>
GOOG <2.59%>
APWC <2.89%>
CNQ <3.59%>
COH <3.93%>
DOW <4.16%>
MET <4.58%>
STLD <5.71%>
AMZN <6.94%>
WPRT <8.04%>
RVBD <9.12%>
ZNGA <9.89%>
MS <12.02%>
RIMM <12.31%>
PMTC <25.38%>
What we can clearly see in this performance chart, that strong stocks fared much better than bargain. Moral of the story is, that there is a very good reason, why money managers chase strong stocks.
Next four months, may bring out some laggard, that is my strategy which will remain unchanged in the short term.
Earnings reaction has been negative so far, focus is on "quality of earnings"
SO......tread carefully in next four months, weak period may become painful for some of us. Only guidance i have, is to do homework & have longer time span for trades to work out.
Good luck with your OWN analysis & view of market.
BLOG does NOT give buy or sell.
Saleem
S&P 500 is down 2.71% in 9 trading days.
Chinese Data in Q1 is less than expectations.
Chinese GDP in Q1 came in @ 8.1% growth, but Chinese target is 7.5% for the year...IF that is where we are heading, then Q2 & Q3 will be well below 8.1%......
Chinese Export are under severe pressure, latest currency tinkering on Saturday is not going to help it either. China has increased its band from .5% to 1% in terms of allowable swing. This means that Chinese currency can appreciate more against US$ & Euro. Its going to increase imports further.
Many optimist are trying to read Chinese data with no concern for their official target of 7.5% GDP growth.
I expect volatility to continue till end of July, resulting in lower lows & lower highs.
Individual investors are @ their lowest level of confidence in being bull in last six months, bullish reading @ 28% only.
CMF in majority of stocks and indices are heading towards negative. S&P 500 CMF @ only 0.055 lowest level in last 4 months.
April to September is traditionally weak period for US market, but due to US Presidential election, we may get some policy boost earlier. August may start to look bullish again.
This does not mean, that we should be out of this market, but it means to be extremely selective where we focus.
Many stocks may outperform during this weak period, based on improving fundamental.
I personally believe that commodities will not go up, unless Chinese economy improves from hereon.
Follow what is working on a day to day basis.
Here is a summary of how some of our portfolio fared in first two weeks of April. I have included some widely followed stocks also :
LVS +5.54%
CMG +5.36%
LNKD +5.15%
BIDU +3.84%
CF +1.97%
AAPL +.95%
CLF........0%
APKT <.04%>
LULU <1.63%>
FCX <2.04%>
GOOG <2.59%>
APWC <2.89%>
CNQ <3.59%>
COH <3.93%>
DOW <4.16%>
MET <4.58%>
STLD <5.71%>
AMZN <6.94%>
WPRT <8.04%>
RVBD <9.12%>
ZNGA <9.89%>
MS <12.02%>
RIMM <12.31%>
PMTC <25.38%>
What we can clearly see in this performance chart, that strong stocks fared much better than bargain. Moral of the story is, that there is a very good reason, why money managers chase strong stocks.
Next four months, may bring out some laggard, that is my strategy which will remain unchanged in the short term.
Earnings reaction has been negative so far, focus is on "quality of earnings"
SO......tread carefully in next four months, weak period may become painful for some of us. Only guidance i have, is to do homework & have longer time span for trades to work out.
Good luck with your OWN analysis & view of market.
BLOG does NOT give buy or sell.
Saleem
Friday, April 13, 2012
Indices slumped 1.05% to 1.45% on China & Spain news....
Indices were under pressure from Chinese data, then Spain joined the fray, resulting in close which was extremely disappointing.
S&P 500 closed @ 1370.26, well below 50 DMA of 1375.71
Internals were :
Down volume led by 6.39 to 1 in NYSE & 6.44 to 1 in Nasdaq
Declining stocks led by 3.28 to 1 in NYSE & 3.51 to 1 in Nasdaq
52 wk highs were in the lead, 46 in NYSE & 60 in Nasdaq
VIX jumped 13.66% @ 19.55
Oil closed @ $103.32
Gold closed @ $1659.10
Canadian $ closed @ 100.16
In my Portfolio :
Added 70% COH @ $75.07
Portfolio is CNQ,COH,MS,RIMM,RVBD,ZNGA
Here is my $ wighting @ close :
RIMM 29.03%
CNQ 21.62%
COH 20.90%
RVBD 19.54%
MS 5.84%
ZNGA 3.07%
Exposure 128%
Most stocks were down
Stocks which closed green included VMW,LULU,LNKD,BIDU,
CMG,CRM,MA,V,NTES,VECO.....
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1370.26, well below 50 DMA of 1375.71
Internals were :
Down volume led by 6.39 to 1 in NYSE & 6.44 to 1 in Nasdaq
Declining stocks led by 3.28 to 1 in NYSE & 3.51 to 1 in Nasdaq
52 wk highs were in the lead, 46 in NYSE & 60 in Nasdaq
VIX jumped 13.66% @ 19.55
Oil closed @ $103.32
Gold closed @ $1659.10
Canadian $ closed @ 100.16
In my Portfolio :
Added 70% COH @ $75.07
Portfolio is CNQ,COH,MS,RIMM,RVBD,ZNGA
Here is my $ wighting @ close :
RIMM 29.03%
CNQ 21.62%
COH 20.90%
RVBD 19.54%
MS 5.84%
ZNGA 3.07%
Exposure 128%
Most stocks were down
Stocks which closed green included VMW,LULU,LNKD,BIDU,
CMG,CRM,MA,V,NTES,VECO.....
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, April 12, 2012
Indices ran UP 1.30% to 1.41% on Chinese GDP optimism....
Indices were in full fledged bull mode, on continued rumour being fed that Chinese GDP data will be "better than expected".
Few minutes ago Chinese GDP data came in lower than expected 8.1% actual vs expectations of 8.3%.
Indices were UP nicely.
S&P 500 is well above 50 DMA of 1374.79, closing @ 1387.57.
Internals were :
UP volume led by 10.60 to 1 in NYSE & 5.00 to 1 in Nasdaq
Advancing stocks led by 4.63 to 1 in NYSE & 2.85 to 1 in Nasdaq
New 52 wk highs were in the lead, 53 in NYSE & 51 in Nasdaq
VIX tumbled 14.09% @ 17.20
Oil closed @ $103.64
Gold closed @ $1680.60
Stocks which were UP 3% or more included CNQ,MS,RVBD,ZNGA,
CLF,FCX,TCK,BIDU,
LNKD,OTEX,FIO,GG,
SLW,SU,QCOM,APKT,
V,VECO,JDSU,CIEN,
FNSR....
AH ER :
GOOG UP .07%
CSTR UP 13.85%
AH Futures Down
AH Asian Markets UP
AH Oil & Gold Down
About market, US banks earnings will have more weight than Chinese Data. Dow is below 50 DMA by 4.74 points, which is the last hurdle in an improving technical picture. Markets may shrug of in-line industrial output from China also. Most intelligent investors are aware of Chinese slowdown, where export is becoming a major issue. Market may have discounted Chinese slowdown.
Do not worry about Friday the 13th, as long as Banks earnings are better than expected.
BLOG does NOT give buy or sell.
Saleem
Few minutes ago Chinese GDP data came in lower than expected 8.1% actual vs expectations of 8.3%.
Indices were UP nicely.
S&P 500 is well above 50 DMA of 1374.79, closing @ 1387.57.
Internals were :
UP volume led by 10.60 to 1 in NYSE & 5.00 to 1 in Nasdaq
Advancing stocks led by 4.63 to 1 in NYSE & 2.85 to 1 in Nasdaq
New 52 wk highs were in the lead, 53 in NYSE & 51 in Nasdaq
VIX tumbled 14.09% @ 17.20
Oil closed @ $103.64
Gold closed @ $1680.60
Stocks which were UP 3% or more included CNQ,MS,RVBD,ZNGA,
CLF,FCX,TCK,BIDU,
LNKD,OTEX,FIO,GG,
SLW,SU,QCOM,APKT,
V,VECO,JDSU,CIEN,
FNSR....
AH ER :
GOOG UP .07%
CSTR UP 13.85%
AH Futures Down
AH Asian Markets UP
AH Oil & Gold Down
About market, US banks earnings will have more weight than Chinese Data. Dow is below 50 DMA by 4.74 points, which is the last hurdle in an improving technical picture. Markets may shrug of in-line industrial output from China also. Most intelligent investors are aware of Chinese slowdown, where export is becoming a major issue. Market may have discounted Chinese slowdown.
Do not worry about Friday the 13th, as long as Banks earnings are better than expected.
BLOG does NOT give buy or sell.
Saleem
Bull market came to life, indices UP 1.14% to 1.30%...NICE !!!!!
Bull market came roaring back due to European yield settling down.
Indices are UP better than 1%
Internals are positive by minimum 3 to 1
New 52 wk highs are in the lead AGAIN....
Oil UP $1.00
Gold UP $19.20
Canadian $ UP 90 tick @ 100.52
VIX Down 8.29% @ 18.36
In my portfolio :
Bought MS @ $17.80
Portfolio is CNQ,COH,MS,RIMM,RVBD,ZNGA
Most stocks are UP
@ 1.50 following are red :
AAPL,JCP,NTES,CRM,TSL.....
BLOG does NOT give buy or sell.
Saleem
Indices are UP better than 1%
Internals are positive by minimum 3 to 1
New 52 wk highs are in the lead AGAIN....
Oil UP $1.00
Gold UP $19.20
Canadian $ UP 90 tick @ 100.52
VIX Down 8.29% @ 18.36
In my portfolio :
Bought MS @ $17.80
Portfolio is CNQ,COH,MS,RIMM,RVBD,ZNGA
Most stocks are UP
@ 1.50 following are red :
AAPL,JCP,NTES,CRM,TSL.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, April 11, 2012
Indices closed UP .70% to .84% in low volume......
Indices closed UP in low volume.
S&P 500 closed @ 1368.71, below 50 DMA of 1373.29
RSI @ 42.12
CMF +0.110, lowest level since start of Jan 2012
Internals were :
UP volume led by 4.13 to 1 in NYSE & 4.27 to 1 in Nasdaq
Advancing stocks led by 3.64 to 1 in NYSE & 3.68 to 1 in Nasdaq
New 52 wk high led by 1 in NYSE & New 52 wk low led by 5 in Nasdaq
Oil closed @ $102.70
Gold closed @ $1660.30
VIX closed Down 1.81% @ 20.02
Stocks which were UP by 1% or more included CNQ,COH,
JCP,APKT,LEN,CLF,MS,BWLD,LULU,TCK,SU,NTES,
LVS,BIDU,GOOG,CRM,M,TSL,MA,BRCM,VECO,ARUN,
CRUS.....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, today was a weak bounce, which needs more confirmation. Many leaders were weak. 50 DMA needs to conquered in a decisive manner.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1368.71, below 50 DMA of 1373.29
RSI @ 42.12
CMF +0.110, lowest level since start of Jan 2012
Internals were :
UP volume led by 4.13 to 1 in NYSE & 4.27 to 1 in Nasdaq
Advancing stocks led by 3.64 to 1 in NYSE & 3.68 to 1 in Nasdaq
New 52 wk high led by 1 in NYSE & New 52 wk low led by 5 in Nasdaq
Oil closed @ $102.70
Gold closed @ $1660.30
VIX closed Down 1.81% @ 20.02
Stocks which were UP by 1% or more included CNQ,COH,
JCP,APKT,LEN,CLF,MS,BWLD,LULU,TCK,SU,NTES,
LVS,BIDU,GOOG,CRM,M,TSL,MA,BRCM,VECO,ARUN,
CRUS.....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, today was a weak bounce, which needs more confirmation. Many leaders were weak. 50 DMA needs to conquered in a decisive manner.
BLOG does NOT give buy or sell.
Saleem
Oversold bounce, indices UP almost 1%...NICE !!!
Indices are UP .96% to 1.01% in oversold bounce.
S&P 500 @ 1371.32, 50 DMA @ 1373.34
Internals are positive by almost 4 to 1
Oil UP $1.74
Gold Down 40 cents
Canadian $ UP 16 tick @ 99.73
VIX Down 3.53% @ 19.57
Portfolio is CNQ,COH,RIMM,RVBD,ZNGA
Most stocks are UP
@ 1.45 following are down :
ZNGA,FCX,VMW,FFIV,PCLN,ABX,AEM,
GG,SLW,AUY....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1371.32, 50 DMA @ 1373.34
Internals are positive by almost 4 to 1
Oil UP $1.74
Gold Down 40 cents
Canadian $ UP 16 tick @ 99.73
VIX Down 3.53% @ 19.57
Portfolio is CNQ,COH,RIMM,RVBD,ZNGA
Most stocks are UP
@ 1.45 following are down :
ZNGA,FCX,VMW,FFIV,PCLN,ABX,AEM,
GG,SLW,AUY....
BLOG does NOT give buy or sell.
Saleem
Tuesday, April 10, 2012
Indices went down 1.65% to 1.83%, in high volume selling....
Indices were in a major slump, after S&P 500 sliced through 50 DMA.
Volume was high.
S&P 500 low today was 1357.38, closing @ 1358.59
RSI @ 36.99 in deep oversold condition....
Internals were :
Down volume led by 14.52 to 1 in NYSE & 12.66 to 1 in Nasdaq
Declining stocks led by 5.77 to 1 in NYSE & 4.78 to 1 in Nasdaq
New 52 wk lows were in the lead, 73 in NYSE & 86 in Nasdaq
VIX closed UP 8.40% @ 20.39
Oil closed @ $101.02
Gold closed @ $1660.70
AH News :
AA UP 5.36%
AMCC Down 4.95%
Stocks which were down 3% or more included COH,RVBD,ZNGA,
LEN,MS,LULU,PCLN,
FIO,NTES,LVS,FFIV,MA,
M,SNDK......
AH Futures UP
AH Asian Markets Down
AH Gold Down
AH Oil UP
About market, today's technical breakdown is a major setback. It is NEVER good that technical backdrop is WEAK. Now market is vulnerable to any negative news flow. Even IF we cross back above 50 DMA, it may not be as healthy in the short term. Please do not be too aggressive, until market is FIRMLY above 50 DMA for several weeks. We need base building again & many positive news flow for weeks.Extreme volatility is back.
BLOG does NOT give buy or sell.
Saleem
Volume was high.
S&P 500 low today was 1357.38, closing @ 1358.59
RSI @ 36.99 in deep oversold condition....
Internals were :
Down volume led by 14.52 to 1 in NYSE & 12.66 to 1 in Nasdaq
Declining stocks led by 5.77 to 1 in NYSE & 4.78 to 1 in Nasdaq
New 52 wk lows were in the lead, 73 in NYSE & 86 in Nasdaq
VIX closed UP 8.40% @ 20.39
Oil closed @ $101.02
Gold closed @ $1660.70
AH News :
AA UP 5.36%
AMCC Down 4.95%
Stocks which were down 3% or more included COH,RVBD,ZNGA,
LEN,MS,LULU,PCLN,
FIO,NTES,LVS,FFIV,MA,
M,SNDK......
AH Futures UP
AH Asian Markets Down
AH Gold Down
AH Oil UP
About market, today's technical breakdown is a major setback. It is NEVER good that technical backdrop is WEAK. Now market is vulnerable to any negative news flow. Even IF we cross back above 50 DMA, it may not be as healthy in the short term. Please do not be too aggressive, until market is FIRMLY above 50 DMA for several weeks. We need base building again & many positive news flow for weeks.Extreme volatility is back.
BLOG does NOT give buy or sell.
Saleem
Indices down 1.36% to 1.53% as selling intensifies...
S&P 500 sliced through 50 DMA & is falling further.
S&P 500 low so far is 1359.28.....
RSI @ 38.16
Dow is further below 50 DMA....
Nasdaq came close to 50 DMA but is still above
Internals are negative by 5 to 1.....
New 52 wk lows expanding their lead...
Oil Down $1.57
Gold UP $19.90
Canadian $ Down 65 tick @ 99.65
VIX UP 9.73% @ 20.64
In my portfolio :
Sold JCP
Portfolio is CNQ,COH,RIMM,RVBD,ZNGA
Exposure 112%
Most stocks are Down......
@1.55 following are green :
BWLD,ABX,GG,AEM,KGC,AUY,TSL...
BLOG does NOT give buy or sell.
Saleem
S&P 500 low so far is 1359.28.....
RSI @ 38.16
Dow is further below 50 DMA....
Nasdaq came close to 50 DMA but is still above
Internals are negative by 5 to 1.....
New 52 wk lows expanding their lead...
Oil Down $1.57
Gold UP $19.90
Canadian $ Down 65 tick @ 99.65
VIX UP 9.73% @ 20.64
In my portfolio :
Sold JCP
Portfolio is CNQ,COH,RIMM,RVBD,ZNGA
Exposure 112%
Most stocks are Down......
@1.55 following are green :
BWLD,ABX,GG,AEM,KGC,AUY,TSL...
BLOG does NOT give buy or sell.
Saleem
Monday, April 9, 2012
Indices closed down 1% to 1.14% in low volume....
Indices fared much better than feared, on below consensus Jobs report.
Indices were down up to 1.14% in low volume.
S&P 500 closed @ 1382.20
RSI 45.78
Internals were :
Down volume led by 9.43 to 1 in NYSE & 6.02 to 1 in Nasdaq
Declining stocks led by 3.75 to 1 in NYSE & 4.34 to 1 in Nasdaq
New 52 wk lows were in the lead, 56 in NYSE & 61 in Nasdaq
Oil closed @ $102.46
Gold closed @ $1643.90
VIX closed UP 12.63% @ 18.81
Stocks which ended green included RIMM,ZNGA,
LVS,CMG,PCLN,AAPL,BIDU,LEN,GG,AUY,
CRM...
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, S&P 500 had a pullback of 3.10%, taking 1422.38 high & low of today 1378.24. This is the biggest pullback of 2012. S&P 500 & Nasdaq are above 50 DMA & never violated that technical level. Dow is the only one which went below. Based on the News market faced, pullback today was not as steep & volume was lower than average. Looks like it, that pullback is over & it was a buying opportunity. There is a strong probability, that we may be green for Tuesday.
BLOG does NOT give buy or sell.
Saleem
Indices were down up to 1.14% in low volume.
S&P 500 closed @ 1382.20
RSI 45.78
Internals were :
Down volume led by 9.43 to 1 in NYSE & 6.02 to 1 in Nasdaq
Declining stocks led by 3.75 to 1 in NYSE & 4.34 to 1 in Nasdaq
New 52 wk lows were in the lead, 56 in NYSE & 61 in Nasdaq
Oil closed @ $102.46
Gold closed @ $1643.90
VIX closed UP 12.63% @ 18.81
Stocks which ended green included RIMM,ZNGA,
LVS,CMG,PCLN,AAPL,BIDU,LEN,GG,AUY,
CRM...
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, S&P 500 had a pullback of 3.10%, taking 1422.38 high & low of today 1378.24. This is the biggest pullback of 2012. S&P 500 & Nasdaq are above 50 DMA & never violated that technical level. Dow is the only one which went below. Based on the News market faced, pullback today was not as steep & volume was lower than average. Looks like it, that pullback is over & it was a buying opportunity. There is a strong probability, that we may be green for Tuesday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 support holding, Indices down .76% to .92%
Indices are reacting to, below expectation Jobs Data.
Indices are down less than 1%....
S&P 500 went down to 1378.24, 50 DMA is 1371.38.
RSI @ 46.89
Internals are negative by 4 to 1
New 52 wk lows are in the lead.
Oil Down $1.43
Gold UP $16.00
Canadian $ UP 3 tick @ 100.34
VIX UP 8.44% @ 18.11
Portfolio is CNQ,COH,JCP,RIMM,RVBD,ZNGA
Most stocks are down
@ 2.20, following are Green :
RIMM,LVS,PCLN,AAPL,BIDU,GG,MA,ABX....
BLOG does NOT give buy or sell.
Saleem
Indices are down less than 1%....
S&P 500 went down to 1378.24, 50 DMA is 1371.38.
RSI @ 46.89
Internals are negative by 4 to 1
New 52 wk lows are in the lead.
Oil Down $1.43
Gold UP $16.00
Canadian $ UP 3 tick @ 100.34
VIX UP 8.44% @ 18.11
Portfolio is CNQ,COH,JCP,RIMM,RVBD,ZNGA
Most stocks are down
@ 2.20, following are Green :
RIMM,LVS,PCLN,AAPL,BIDU,GG,MA,ABX....
BLOG does NOT give buy or sell.
Saleem
Sunday, April 8, 2012
Indices near strong support, despite jobs data.....
Indices are well above 50 DMA, Jobs data may bring indices down some, but it will survive above 50 DMA nicely.
50 DMA is @ 1370.05, we closed on Thursday @ 1398.08.
There is no debate that, Job picture is improving, which is what market is banking on.
Because of warmer Dec, Jan & Feb there was a lag in March. Economists follow trend lines not variables. Warm weather has created history in North America over & over many times.
I expect indices to resume its uptrend, once earning report comes streaming. In the meantime relative strength stocks will continue to outperform like AAPL,PCLN, LULU.......
While we wait for earnings, it is important to look for special situation stocks, when they are priced right.
Earnings expectations are very low, thus it will be easy to surpass.
Individual investors are @ its lowest participation, only 38% are bullish, lowest reading of bulls in 2012. This is a great contrary indicator.
As to S&P 500, by the time earnings are over, we should be looking @ 1450 to 1470 area.
Strong support lies in1370 to 1380 area......
It is important to remain overweight for maximum gains.
Here is my weighting as of Thursday close :
RIMM 26.79%
CNQ 20.31%
RVBD 19.54%
JCP 18.48%
COH 11.98%
ZNGA 2.90%
Exposure 135%
As you can see, that i am exposed to many stocks, which has not performed so far. This strategy is deliberate, as i expect them to come to life soon.
Good luck with your OWN view of market, Jobs report & strategies.
BLOG does NOT give buy or sell.
Saleem
50 DMA is @ 1370.05, we closed on Thursday @ 1398.08.
There is no debate that, Job picture is improving, which is what market is banking on.
Because of warmer Dec, Jan & Feb there was a lag in March. Economists follow trend lines not variables. Warm weather has created history in North America over & over many times.
I expect indices to resume its uptrend, once earning report comes streaming. In the meantime relative strength stocks will continue to outperform like AAPL,PCLN, LULU.......
While we wait for earnings, it is important to look for special situation stocks, when they are priced right.
Earnings expectations are very low, thus it will be easy to surpass.
Individual investors are @ its lowest participation, only 38% are bullish, lowest reading of bulls in 2012. This is a great contrary indicator.
As to S&P 500, by the time earnings are over, we should be looking @ 1450 to 1470 area.
Strong support lies in1370 to 1380 area......
It is important to remain overweight for maximum gains.
Here is my weighting as of Thursday close :
RIMM 26.79%
CNQ 20.31%
RVBD 19.54%
JCP 18.48%
COH 11.98%
ZNGA 2.90%
Exposure 135%
As you can see, that i am exposed to many stocks, which has not performed so far. This strategy is deliberate, as i expect them to come to life soon.
Good luck with your OWN view of market, Jobs report & strategies.
BLOG does NOT give buy or sell.
Saleem
Thursday, April 5, 2012
Another constructive close today....NICE !!!!
Indices closed near break even, with Nasdaq closing UP.
Volume was low, due to long weekend.
S&P 500 closed @ 1398.08, down less than 1 point.
RSI 53.76
Internals were :
Down volume led by 2.09 to 1 in NYSE & .89 to 1 in Nasdaq
Declining stocks led by 1.33 to 1 in NYSE & 1.13 to 1 in Nasdaq
New 52 wk highs were in the lead by close, 52 in NYSE & 57 in Nasdaq
VIX UP 1.58% @ 16.70
Oil closed @ $103.31
Gold closed @ $1630.10
About market, it will be all about jobs, expectations are 200K, Private sector adding 215K. I am of the opinion, that headline & Private sector, both will be higher. In Canada economists consensus was off by a mile, expectations were 10K, actual was higher than 8 times?
Next post on Sunday by 2 PM.
BLOG does NOT give buy or sell.
Saleem
Volume was low, due to long weekend.
S&P 500 closed @ 1398.08, down less than 1 point.
RSI 53.76
Internals were :
Down volume led by 2.09 to 1 in NYSE & .89 to 1 in Nasdaq
Declining stocks led by 1.33 to 1 in NYSE & 1.13 to 1 in Nasdaq
New 52 wk highs were in the lead by close, 52 in NYSE & 57 in Nasdaq
VIX UP 1.58% @ 16.70
Oil closed @ $103.31
Gold closed @ $1630.10
About market, it will be all about jobs, expectations are 200K, Private sector adding 215K. I am of the opinion, that headline & Private sector, both will be higher. In Canada economists consensus was off by a mile, expectations were 10K, actual was higher than 8 times?
Next post on Sunday by 2 PM.
BLOG does NOT give buy or sell.
Saleem
Nasdaq UP, other indices down slightly.....
Nasdaq is showing leadership, by staying green.
S&P 500 low so far is 1392.92, still making higher low compared to previous pullback.
RSI 53.57
Internals are mixed, Nasdaq positive, NYSE Negative.
New 52 wk highs in the lead again.
Oil UP $1.77
Gold UP $17.00
Canadian $ UP 34 tick @ 100.72.....Canada's Jobs report was way above consensus, created 82,300 new jobs, Unemployment rate went down 2 notch to 7.2%.....I am expecting a "blowout US Jobs number also"
Portfolio is CNQ,COH,JCP,RIMM,RVBD,ZNGA
Most stocks are down
@ 1.40 following are green :
COH,AMZN,AAPL,LULU,CMG,PCLN,
WYNN,LVS,BIDU,LNKD,NTES,VMW,
MA,V,BWLD,SBUX....
BLOG does NOT give buy or sell.
Saleem
S&P 500 low so far is 1392.92, still making higher low compared to previous pullback.
RSI 53.57
Internals are mixed, Nasdaq positive, NYSE Negative.
New 52 wk highs in the lead again.
Oil UP $1.77
Gold UP $17.00
Canadian $ UP 34 tick @ 100.72.....Canada's Jobs report was way above consensus, created 82,300 new jobs, Unemployment rate went down 2 notch to 7.2%.....I am expecting a "blowout US Jobs number also"
Portfolio is CNQ,COH,JCP,RIMM,RVBD,ZNGA
Most stocks are down
@ 1.40 following are green :
COH,AMZN,AAPL,LULU,CMG,PCLN,
WYNN,LVS,BIDU,LNKD,NTES,VMW,
MA,V,BWLD,SBUX....
BLOG does NOT give buy or sell.
Saleem
Wednesday, April 4, 2012
Indices down .95% to 1.46%........
Indices took it on the chin today & by close, it was down up to 1.46%.
Selling was attributed to Fed minutes, but in my opinion, it was simply a case of booking profit while some catalyst like ER are awaiting.
S&P 500 closed @ 1398.96
RSI @ 54.25
Internals were :
Down volume led by 5.87 to 1 in NYSE & 8.89 to 1 in Nasdaq
Declining stocks led by 4.13 to 1 in NYSE & 4.54 to 1 in Nasdaq
New 52 wk lows were in the lead, 49 in NYSE & 55 in Nasdaq
Oil closed @ $101.47
Gold closed @ $1614.10
VIX UP 4.98% @ 16.44
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
About market, my favourite contrarian Doug Kass, showed up on CNBC claiming that we are overvalued by 5% to 8%, which means he is predicting S&P 500 to go to 1287. I am personally of the opinion, that we have a very good chance of closing green for Thursday. Like many other pullbacks, we had exactly
1.99% pullback from S&P high of 1422.38 to today's low of 1394.09. IF you can believe it, we actually had higher low compared to previous pullback.
Sector focus will remain the same in this market, Tech, Housing, Retail are the bright spot.
BLOG does NOT give buy or sell.
Saleem
Selling was attributed to Fed minutes, but in my opinion, it was simply a case of booking profit while some catalyst like ER are awaiting.
S&P 500 closed @ 1398.96
RSI @ 54.25
Internals were :
Down volume led by 5.87 to 1 in NYSE & 8.89 to 1 in Nasdaq
Declining stocks led by 4.13 to 1 in NYSE & 4.54 to 1 in Nasdaq
New 52 wk lows were in the lead, 49 in NYSE & 55 in Nasdaq
Oil closed @ $101.47
Gold closed @ $1614.10
VIX UP 4.98% @ 16.44
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
About market, my favourite contrarian Doug Kass, showed up on CNBC claiming that we are overvalued by 5% to 8%, which means he is predicting S&P 500 to go to 1287. I am personally of the opinion, that we have a very good chance of closing green for Thursday. Like many other pullbacks, we had exactly
1.99% pullback from S&P high of 1422.38 to today's low of 1394.09. IF you can believe it, we actually had higher low compared to previous pullback.
Sector focus will remain the same in this market, Tech, Housing, Retail are the bright spot.
BLOG does NOT give buy or sell.
Saleem
Indices down 1.04% to 1.71%........
Indices are in full retreat after rethink of Fed minutes.
Indices are taking it on the chin, with Nasdaq in major reversal.
S&P 500 low today is 1394.09
RSI @ 53.33
CMF is ascending @ 0.329
Internals are bleeding 5 to 1
New 52 wk lows are in the lead after a long time.
Oil Down $2.48
Gold Down $56.30
Canadian $ Down 53 tick @ 100.37
VIX UP 9.26% @ 17.11
In my portfolio :
Sold AMZN
Bought COH @ $74.76
Portfolio is CNQ,COH,JCP,RIMM,RVBD,ZNGA
Most stocks are down
BLOG does NOT give buy or sell.
Saleem
Indices are taking it on the chin, with Nasdaq in major reversal.
S&P 500 low today is 1394.09
RSI @ 53.33
CMF is ascending @ 0.329
Internals are bleeding 5 to 1
New 52 wk lows are in the lead after a long time.
Oil Down $2.48
Gold Down $56.30
Canadian $ Down 53 tick @ 100.37
VIX UP 9.26% @ 17.11
In my portfolio :
Sold AMZN
Bought COH @ $74.76
Portfolio is CNQ,COH,JCP,RIMM,RVBD,ZNGA
Most stocks are down
BLOG does NOT give buy or sell.
Saleem
Tuesday, April 3, 2012
Impressive close today......
Ben Bernanke & member of his Fed policy makers minute were NOT in tune with market expectations.
Fed minute noted improvement in US economy, thus underwhelming consensus on QE3.
S&P 500 went down to 1404.62, but closed @ 1413.38.
Indices closed down .20% to .49%, a mild reaction for sure.
Internals were :
Down volume led by 2.46 to 1 in NYSE & 2.15 to 1 in Nasdaq
Declining stocks led by 1.84 to 1 in NYSE & 2.24 to 1 in Nasdaq
New 52 wk highs were leading nicely again, 128 in NYSE & 101 in Nasdaq
VIX UP .13% @ 15.66
Oil Closed @ $104.01
Gold closed @ $1672.00
AH :
SNDK Down 6.19%
HOV Down 7.66%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, Indices erased majority of their losses. There was an exit from commodity space. Many leaders held or expanded their gains by close, which is confidence building in this environment. I am still a believer in the short term & will keep an eye on how we close. Profit needs to be booked, go for Singles instead of Home runs.
About RIMM, TAPE was a "major breakdown". Next support is below 52wk low of $12.46, IF we do NOT hold $12.30, stockconsultant.com is predicting a breakdown with a target of $8.69. Their accuracy rate is 50-50.
RIMM fundamental, based on 51 analysts from Yahoo Finance tonight, is predicting current earning of $1.97 on Sales of $15.28 Billion. This gives a PE of 6.60 based on $13.01 close. As a comparison with another has been NOK their current EPS is 15 cents only. NOK closed @ $5.31, its PE is 35.40 ? Try to figure this one out.
BLOG does NOT give buy or sell.
Saleem
Fed minute noted improvement in US economy, thus underwhelming consensus on QE3.
S&P 500 went down to 1404.62, but closed @ 1413.38.
Indices closed down .20% to .49%, a mild reaction for sure.
Internals were :
Down volume led by 2.46 to 1 in NYSE & 2.15 to 1 in Nasdaq
Declining stocks led by 1.84 to 1 in NYSE & 2.24 to 1 in Nasdaq
New 52 wk highs were leading nicely again, 128 in NYSE & 101 in Nasdaq
VIX UP .13% @ 15.66
Oil Closed @ $104.01
Gold closed @ $1672.00
AH :
SNDK Down 6.19%
HOV Down 7.66%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, Indices erased majority of their losses. There was an exit from commodity space. Many leaders held or expanded their gains by close, which is confidence building in this environment. I am still a believer in the short term & will keep an eye on how we close. Profit needs to be booked, go for Singles instead of Home runs.
About RIMM, TAPE was a "major breakdown". Next support is below 52wk low of $12.46, IF we do NOT hold $12.30, stockconsultant.com is predicting a breakdown with a target of $8.69. Their accuracy rate is 50-50.
RIMM fundamental, based on 51 analysts from Yahoo Finance tonight, is predicting current earning of $1.97 on Sales of $15.28 Billion. This gives a PE of 6.60 based on $13.01 close. As a comparison with another has been NOK their current EPS is 15 cents only. NOK closed @ $5.31, its PE is 35.40 ? Try to figure this one out.
BLOG does NOT give buy or sell.
Saleem
Indices down .61% to .94% on Fed minutes....
Fed minutes revealed that QE3 may not happen, economy is improving nicely, IS the reason.
S&P 500 low so far is 1404.62
Internals are negative by minimum 2 to 1.
Oil Down $1.54
Gold Down $30.50
Canadian $ Down 9 tick @ 100.84
VIX UP 5.05% @ 16.43
In my portfolio :
Added more AMZN @ $200.30
Portfolio is AMZN,CNQ,JCP,RIMM,RVBD,ZNGA
Here is my real time portfolio weighting :
RIMM 24.46%
AMZN 20.37%
CNQ 18.50%
RVBD 17.63%
JCP 16.42%
ZNGA 2.62%
Exposure 148%
Most stocks are down
@ 2.42 following are UP :
AMZN, LULU,CMG,PCLN,AAPL,WYNN,LVS,
BIDU,FFIV,MA,V,M,SNDK......
BLOG does NOT give buy or sell.
Saleem
S&P 500 low so far is 1404.62
Internals are negative by minimum 2 to 1.
Oil Down $1.54
Gold Down $30.50
Canadian $ Down 9 tick @ 100.84
VIX UP 5.05% @ 16.43
In my portfolio :
Added more AMZN @ $200.30
Portfolio is AMZN,CNQ,JCP,RIMM,RVBD,ZNGA
Here is my real time portfolio weighting :
RIMM 24.46%
AMZN 20.37%
CNQ 18.50%
RVBD 17.63%
JCP 16.42%
ZNGA 2.62%
Exposure 148%
Most stocks are down
@ 2.42 following are UP :
AMZN, LULU,CMG,PCLN,AAPL,WYNN,LVS,
BIDU,FFIV,MA,V,M,SNDK......
BLOG does NOT give buy or sell.
Saleem
Monday, April 2, 2012
Indices closed UP .40% to .91%......NICE !!!
Indices ignored European Manufacturing data & construction spending in US, focus was on Chinese PMI & US manufacturing data. Indices made new 2012 intraday highs.
S&P 500 high was 1422.38, closed @ 1418.90
RSI is 66.80
CMF is ascending @ 0.279
Internals were :
UP volume led by 3.95 to 1 in NYSE & 2.48 to 1 in Nasdaq
Advancing Stocks led by 3.00 to 1 in NYSE & 2.28 to 1 in Nasdaq
New 52 wk highs expanded again, 154 in NYSE & 109 in Nasdaq
VIX closed UP .9% @ 15.64
Oil closed @ $105.23
Gold closed @ $1679.70
In my portfolio :
Added 110% more ZNGA @ $12.77.
Sold OTEX.....
Portfolio is AMZN,CNQ,JCP,RIMM,RVBD,ZNGA...
Exposure @ 130%
Stocks which were UP 1% or more included CNQ,
CLF,FCX,TCK,TIF,COH,AAPL,VMW,FIO,GG,
AUY,SLW,SU,NTES,FFIV,CRM,MA,VECO,
CIEN......
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, As we are elevated, we need positive news
to keep this market UP.
A pullback must not surprise anyone. Catalyst could be anything from Fed minutes to Car Sales or you name it. So keep a very close eye on news, which may pull this market down.
I am trading lot differently than before, i have completed 24 trades between Jan 2012 to March 2012, an average of 8 completed trades per month. I was down in 4 completed trades & UP in 20 completed trades. This is my best ratio which i can recall. I am in no hurry to sell when trade is looking negative, but do try to book profit when its there.Some food for thought.
BLOG does NOT give buy or sell.
Saleem
S&P 500 high was 1422.38, closed @ 1418.90
RSI is 66.80
CMF is ascending @ 0.279
Internals were :
UP volume led by 3.95 to 1 in NYSE & 2.48 to 1 in Nasdaq
Advancing Stocks led by 3.00 to 1 in NYSE & 2.28 to 1 in Nasdaq
New 52 wk highs expanded again, 154 in NYSE & 109 in Nasdaq
VIX closed UP .9% @ 15.64
Oil closed @ $105.23
Gold closed @ $1679.70
In my portfolio :
Added 110% more ZNGA @ $12.77.
Sold OTEX.....
Portfolio is AMZN,CNQ,JCP,RIMM,RVBD,ZNGA...
Exposure @ 130%
Stocks which were UP 1% or more included CNQ,
CLF,FCX,TCK,TIF,COH,AAPL,VMW,FIO,GG,
AUY,SLW,SU,NTES,FFIV,CRM,MA,VECO,
CIEN......
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, As we are elevated, we need positive news
to keep this market UP.
A pullback must not surprise anyone. Catalyst could be anything from Fed minutes to Car Sales or you name it. So keep a very close eye on news, which may pull this market down.
I am trading lot differently than before, i have completed 24 trades between Jan 2012 to March 2012, an average of 8 completed trades per month. I was down in 4 completed trades & UP in 20 completed trades. This is my best ratio which i can recall. I am in no hurry to sell when trade is looking negative, but do try to book profit when its there.Some food for thought.
BLOG does NOT give buy or sell.
Saleem
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