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
10 comments:
Saleem
I have my eyes on LEN again, stock been downgrade today. Look like downside is very limited and stock still well into green on cmf compare to others who turn negative already.
All big cap had been sold after earning. Will AAPL follow the same fate? AAPL is off the low of the day and I suspect it is all those gambler who wanted to place their bullish bet early.
Hi Up,
I am monitoring LEN daily...LEN is following market lower, as it is a leading housing stock...
About AAPL...Risk / Reward not so high @ this stage....after ER a better bet.....
Saleem
Hey Saleem,
FB basically just gave away ZNGA's Q1 revenue--you rarely/never see something like that.
I too have been looking at LEN. I am having a tough time determining fair value, but the chart is decent despite today's break below the 50 DMA. Respectable CMF as noted.
I think the longer term problem for AAPL is margins--I'm fairly certain those have peaked. The question is whether they can keep pumping the revenue through to translate to the bottom line, and even if so, the growth profile should slow. At least the stock remains extremely cheap, but the slower growth could damage the P/E people are willing to pay. AAPL is probably buy on dips, sell on rips now.
Stocktrader
Hi Stocktrader,
ZNGA TAPE was telling me something is not adding up.....very hard to understand ZNGA TAPE action.
Market TAPE is defining individual stock weakness...daytrade is better in this volatile days...
Saleem
Saleem
NFLX just got trash, look like expectation was very high this quarter due to the run up the past few month.
X and AAPL will be reporting tomorrow and if this is the way how investors treating earning, then market is in big trouble
Hi Up,
AAPL ER will decide market direction...IF BEAT then we go UP..otherwise, we all know what will happen.....
NFLX is an old tired story....can't read too much into it.
Saleem
Saleem
The market is in trouble
Walmart got hit to
Apple came back a lot by close
I did not sell cnq nor amazon
Was hoping for a bottom
My bet may be way premature!
Looking at fast money now, j Cramer
Best to all
Hi C,
You may be wise in not selling CNQ or AMZN......
Saleem
Hey Saleem,
I decided over the weekend that TUMI wasn't right as an investment, but merely a trade (that came and went without me being able to sell when I wanted!). Bad luck for me, Cramer came on tonight and told everyone how TUMI overvalued! I can finally sell tomorrow--hopefully I get a decent price. I still like the PFPT though.
Stocktrader
Hi Stocktrader,
We only have to be right 51% or more to make it in this changing landscape.....
Good luck with your sell price on TUMI....
I am expecting a GREEN day on Tuesday which should help your sell..you got an advance copy of my thought for closing BLOG tonight.
Saleem
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