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.
14 comments:
Hey Saleem,
Like clockwork, PFPT is suddenly making a nice run and my good sell looks really dumb now...amazing range today.
Stocktrader
Hi Stocktrader,
Yes..i checked it & it is green....
That is why they say that "market is smarter than all of us combined"
Saleem
Hi Stocktrader,
Today i was tempted to do few switch...but changed my mind...sometimes staying put is better.....
Saleem
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
Hi Stocktrader,
NVDA was upgraded today by Canaccord Genuity to BUY.....
Saleem
Saleem,
Good afternoon. S&P could head back to or below the recent lows in the 1,267 to 1,278 area.
Victor
Hi Victor,
1290 + - 30 on the low end & 1392 + -30 on the high end is what i have seen as recent range.....
Saleem
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
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"
Saleem
Awful down day
Cramer. Hold oils
Sell Internet stocks
buy MCD
Sold. SLRC
C
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
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
Saleem
Sold. Only one
We may be at a bottom.?....??...
C
Hi C,
Read my closing BLOG....it will deal with that question...
Saleem
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