Monday, June 25, 2012

Indices down 1.19% to 1.92% on same old issues.....

Indices are down on European debt issues.

S&P 500 low today so far is 1309.27, currently @ 1314.30.

RSI @ 44.63

Internals are negative by minimum 3 to 1

New 52 wk lows are leading

Oil down 62 cents

Gold UP $20.20

Canadian $ Down 44 tick @ 97.17

VIX jumped 14.80% @ 20.79

Portfolio is COH,LVS,LEN,NTES,JCP

Most stocks are down

@ 2.08 following are green :

LEN,AUY,GG,MOS,AEM,AGU.....

BLOG does NOT give buy or sell.

Saleem
at

14 comments:

  1. stocktrader_1996June 25, 2012 at 11:26 AM

    Hey Saleem,

    Like clockwork, PFPT is suddenly making a nice run and my good sell looks really dumb now...amazing range today.

    Stocktrader

    ReplyDelete
  2. Stocks100June 25, 2012 at 11:32 AM

    Hi Stocktrader,

    Yes..i checked it & it is green....

    That is why they say that "market is smarter than all of us combined"

    Saleem

    ReplyDelete
  3. Stocks100June 25, 2012 at 11:34 AM

    Hi Stocktrader,

    Today i was tempted to do few switch...but changed my mind...sometimes staying put is better.....

    Saleem

    ReplyDelete
  4. stocktrader_1996June 25, 2012 at 12:00 PM

    Hey Saleem,

    Bought NVDA @ 12.56 with the cash I raised. I'll try to catch PFPT tomorrow when I sell the ERY hedge.

    Stocktrader

    ReplyDelete
  5. Stocks100June 25, 2012 at 12:02 PM

    Hi Stocktrader,

    NVDA was upgraded today by Canaccord Genuity to BUY.....

    Saleem

    ReplyDelete
  6. AnonymousJune 25, 2012 at 2:51 PM

    Saleem,

    Good afternoon. S&P could head back to or below the recent lows in the 1,267 to 1,278 area.

    Victor

    ReplyDelete
  7. Stocks100June 25, 2012 at 3:18 PM

    Hi Victor,

    1290 + - 30 on the low end & 1392 + -30 on the high end is what i have seen as recent range.....

    Saleem

    ReplyDelete
  8. stocktrader_1996June 25, 2012 at 3:32 PM

    Hey Saleem,

    Besides relatively good strength on Friday, these past days have set up just like the THU-TUES scenario I presented last week. I expect tomorrow morning to be the bottom (or potentially it could be today's close depending on overnight news flow, but nothing of note so far). That's why I plan to cover my hedge early tomorrow and utilize those proceeds to go long something with PFPT, CLF, and more LEN on the radar.

    Stocktrader

    ReplyDelete
  9. stocktrader_1996June 25, 2012 at 3:43 PM

    Here's the reprint of that comment:

    "stocktrader_1996 said...

    Hey Saleem,

    Given today's downdraft, I'm already thinking about the standard bottoming process: big down THU, flattish FRI, big down MON, bottom TUES.

    I don't know if this will play out, but whenever I see a 150+ down Thursday, I start to think about setups.

    Stocktrader

    June 21, 2012 9:47 AM"

    ReplyDelete
  10. cJune 25, 2012 at 4:05 PM

    Saleem

    Awful down day

    Cramer. Hold oils
    Sell Internet stocks
    buy MCD

    Sold. SLRC
    C

    ReplyDelete
  11. Stocks100June 25, 2012 at 4:08 PM

    Hi Stocktrader,

    As i said before, i do not worry about market UPs or DOWNs..but worry a whole lot how my stocks are doing....today down almost 3.5%...thanks to NTES......

    Good luck with your swap into long position........

    Saleem

    ReplyDelete
  12. Stocks100June 25, 2012 at 4:10 PM

    Hi C,

    I have not checked CNBC from internet yet......

    One sell for you.....

    Cramer has his opinion & we have ours....sometimes he is wrong..& other times we are wrong.....

    Saleem

    ReplyDelete
  13. cJune 25, 2012 at 5:37 PM

    Saleem
    Sold. Only one

    We may be at a bottom.?....??...
    C

    ReplyDelete
  14. Stocks100June 25, 2012 at 5:46 PM

    Hi C,

    Read my closing BLOG....it will deal with that question...

    Saleem

    ReplyDelete