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
7 comments:
SALEEM
I can not believe that FCX was such a loser for me..
the worst ever trade
Take me a long while to plug that mess up with gains
best to all
C
Hi C,
It is very important to plug a hole in portfolio very quickly....most of the time..IF you control your LOSS & score SINGLES...you will be ahead EASILY....
Focus on your next moves which should get that winning ratio going.
Good Luck.
Saleem
Hi Stocktrader,
What is your read about ZNGA....i know they priced their secondary @ $12.....BUT it is trading well below......
Saleem
Hey Saleem,
I'm not too concerned. Given the secondary was insider selling only (not dilutive), they still have the same earnings power as pre-secondary. I believe the stock is merely coming down with overall risk reduction in the market (and has found good support in the 11.20-11.40 area the last three days). Also, there are many people skeptical of the business model and they have initiated long-term shorts. How that plays out is yet to be determined, but could really provide upside fuel if things go well. I expect positive sentiment ahead of the Facebook IPO next month.
Hope this helps some! :)
Stocktrader
Saleem
I believed market will be going up to ease oversold condition. After that down we go, so I am going to sell everything and stay on sideline until smoke clear. As you see, behavior of market has change, after morning mark up, stocks bleed slowly. As your comment a week ago, you mention stock will be going down until July, and I totally agree with that.
C
I sold my AMZN in the morning, guess I am just lucky. Regarding FCX, when Cramer trying to tell people to buy, that is the time you should sell. I think you will see a better price in the next few day.
Hi Stocktrader,
Thank you for your insight into ZNGA...very helpful as i do not know this stock.
Saleem
Hi Up,
I have been trying to play it safe for a long while, by not touching any big movers......AMZN was my only play as it was lagging badly.
Market has a speedy way of changing its colors.
Saleem
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