Indices are UP .54% to .75% after Ben Bernanke indicated readiness to react as economy is showing weakness. He remains optimistic that US GDP may grow @ 2.4%.......
S&P 500 @ 1362.43
Internals are 2 to 1 in NYSE & 50% positive in Nasdaq
52 wk highs are leading
Oil UP 74 cents
Gold Down $3.20
Canadian $ UP 15 tick @ 98.68
VIX Down 4.85% @ 16.28
Portfolio is BIDU,LVS,NTES,JCP,TCK
Most stocks are UP
@ 2.07 following are down :
BIDU,NTES,JCP,LULU,CLF,AUY,GG,
FB,LNKD,LEN,MA,LNG,ZNGA,
BRCM,MU,JDSU,FNSR,ARNA,
NVDA,X,EGO,SINA,SNE....
EDU came out with good earning BUT it is being investigated by SEC, this caused a PANIC selling in Chinese stocks......
BLOG does NOT give buy or sell.
8 comments:
Hey Saleem,
Risk assets are still not really in favor despite the positive indices. Many of my stocks (watched and portfolio ones) are in the red today.
Stocktrader
Hi Stocktrader,
YES....they are either red or barely green.....they may be the next group to get a life......
What a scare with BIDU & NTES due to EDU......
Saleem
Hey Saleem,
I generally stay away from Chinese stocks due to lack of transparency and random regulatory actions. I've been burned in the past and just find other ways to play Chinese activity now if that's what I want to accomplish.
Stocktrader
Hi Stocktrader,
So far...i have never been caught in Chinese scams yet.....i generally go with established & frontline companies......
BUT my brother has many scams in his portfolio CCME & FUQI....
Saleem
aleem
thanks for Chinses stock update
I gotta see what J Cramer has to say tonight-if anything
here is digest of EDUToday, New Oriental Education & Technology Group (EDU) revealed that the company is under SEC investigation for subsidiary ownership restructuring. The stock dropped 28% on heavy volume as of this writing. This is not the first time that foreign companies surprised investors with accounting or managerial irregularities. In 2011, Sino-Forest (listed at the Toronto Stock Exchange under the ticker TRE) was under investigation for accounting fraud. Among its high profile investors, billionaire hedge fund manager John Paulson sold his holdings at a $720 million loss.
c
Hi C,
I do not think BIDU has anything to worry about any irregularities.....CEO is US educated & highly ethical.....
Saleem
Saleem
Maybe we should get MOS or POT
CNBC says a screaming buy due to draught
Best of luck
c
Hi C,
It is a good idea..but i have to sell something.....
Saleem
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