Indices are finding weak buying support.
TAPE is WEAK......
All the gains are disappearing, indices barely green
S&P 500 lower low was @ 1335.56
Internals Mixed
New 52 wk lows are in the lead.
Oil Down 64 cents
Gold Down $3.70
Canadian $ Down 13 tick @ 99.56
VIX Down 2.10%
In my portfolio :
Sold LNKD
Portfolio is COH,LSI,LVS,RIMM
Exposure 79%
Most stocks are down
@ 2.05, following are UP :
LNKD,LVS,KORS,BIDU,PCLN,GOOG,LEN,VMW,
APKT,CMG,M,AMZN,NTES,CRM,MA,BRCM,
VECO,FNSR,BWLD,GS,IBN.......
BLOG Does NOT give buy or sell.
Saleem
9 comments:
Hey Saleem,
What do you think about catching a falling knife in SWC? It seems to me the commodities and currencies need a bounce after so much selling, and SWC could be well positioned to benefit as a huge beta play on that.
Stocktrader
Hi Stocktrader,
Any stock CAN bounce...but SWC TAPE is in steepe decline......it is showing a "death cross"......
I do not feel right about SWC TAPE.
.....especually with ongoing weakness in market TAPE.....
Saleem
Hey Saleem,
Sold FXCM at 9.88 avg and bought half SWC at 8.32 and half GWAY at 15.00.
That's how I'll work this for now, but still looking to make adjustments.
Stocktrader
Hi Stocktrader,
Good luck with your swap.
Saleem
Hey Saleem,
I'm starting to gain a little confidence in stocks since my diverse portfolio is actually marginally up over the last two days. Something must be working...
Stocktrader
Hi Stocktrader,
I am really happy that you have positive return for last two days...i cannot say that for my portfolio.
Good to beat averages on two bad days.
Saleem
Hey Saleem,
To be fair, I've underperformed for a number of weeks running now, so maybe these are just oversold bounces, although clearly there are some just plain strong, like LEN. Nice 2-day bounces have definitely come from ZNGA, OCZ, and PFPT also though.
Stocktrader
Hi Stocktrader,
2 days back to back gain is a great "relative performance"....
As you well know..PAST do not count..we all have to perform in PRESENT.....
Saleem
Hey Saleem,
Not that it's a big deal, but I meant that the total performance over these past two days was positive (after I posted yesterday, the late day swoon put me slightly negative for the day).
Looking forward to one of those Wednesday bounces? :)
Stocktrader
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