So here we are in October of 2012......
First week of October may be more challenging.....
This week, news from China ,EU,Fed minute & Jobs report are ready to hit us....
China & Europe may provide positive catalyst......
But Fed minute & Jobs report may hit us on the negative note.....
So brace for a challenging week where market may "gyrate more than usual"
I see this week as UP,DOWN,DOWN & ending on negative for the week.
This week should be a week to build position in better performing stocks & pruning laggards.
BUT..... after this week, we should be ready for a sustained uptrend with new highs in DOW & S&P 500.
From second week in October to second week in January is "the-best time to be in market" based on history.
Technology is going to outperform in a big way, retailers will do well also......
Exposure needs to be in the tech sector with heaviest weighting.
TAPE is giving every signal that we are setting up for a nice sustained rally, we are in the process of making a solid bottom this week.
S&P 500 may test 1430 area........
SO...it is time to "reshift focus" into a very bullish mode.......
Good luck with your OWN homework & strategy.
BLOG does NOT give buy or sell.
Saleem
27 comments:
Hey Saleem,
Great thoughtful blog as usual!
Do you plan to add exposure this week on a dip?
Stocktrader
Hi Stocktrader,
Thanks for your feedback....
As you may have noted, that i have been "adding opportunistically" already & will continue to do so....
Saleem
SALEEM
I gotta think that this will be a difficult week
DO not try to second guess market direction
I was so expecting a correction=======Hmmmm
No gots
Surprise me a lot as IMHO we needed a correction to digest the huge more up this year
Save some dough for an APPLE share pice drop --I say nibble on any drop
Expecting good numbers when earning report! We should shoot to $700 on or about earning date!--Ya you heard it hear first....
Sold GGN and AUY booking any profit on weakness..
I am expecting a pop in transportation stocks --NSC is my buy there.....
C
Hi C,
Guessing is good...this way you are prepared based on "your guess"....
Now second guess is tough as you are allowed only one.....
Good luck with your strategy.
Saleem
SALEEM
Market is looking very strong for today
September was awesome for me--up NICE
I buy GGN and LINE for some Divi protection in case of market correction
I may get LEN again today as I got to much cash now!!
Any thoughts
thanks
C
Hi C,
Go for GROWTH NOT SAFETY....times are changi'n....
Saleem
Hey Saleem,
Argh! I came into the day with a sell order for SPLK. It never got quite high enough on the morning pop and I couldn't chase it down fast enough. Frustrating situation on that with it being down $1+ now...
In other news, I got more comfortable with my CRUS over the weekend. I like their market positioning and prospects for growth this quarter and beyond.
Stocktrader
Hey Saleem,
Also, APKT didn't warn when they announced their earnings date for the first time in many quarters. They may finally have set the bar low enough :).
Stocktrader
SALEEM
sage advice for me form my GURU...
So I got DNKN
and GOLD with GGN at $14.50
Chasing some AAPLE order at $665
***********DNKN
Price Target Range for DNKN
33
Consensus
36 So says NASDAQ tools.
I like DNKN a lot --- MSN gives it an...............
here is link:
http://www.nasdaq.com/symbol/dnkn/analyst-research
Hey Saleem,
Sold SPLK 35.75 and PANW 63.047.
Stocktrader
Hey Saleem,
Added to LF at 9.145 to make it a full position. Other stocks I looked at for addition this weekend were Z and MNST. Z has poor price action today so I am avoiding for now, and MNST's price action is too good for today so I'm avoiding for now.
As you know, I played YELP from $19 to $26, but sold out to let it take a rest. I've avoiding rebuying because of the controversy surrounding Apple maps, but the stock is doing quite well, and breaking out today it seems. What do you think my move should be? I'm a bit confused on this one currently.
Stocktrader
Hi Stocktrader,
What was the reason for selling SPLK & PANW.....
Saleem
Hi C,
Good luck with DNKN......
Saleem
Hey Saleem,
The main issues are competitive concerns, valuation, and lockup expirations. I actually love both companies still, but I believe these things are currently weighing on them, and I will look for a better entry. SPLK specifically has a massive lockup happening October 16th.
Stocktrader
Hey Saleem,
Any thoughts on my questions about YELP? Also, MNST seems to be gaining nicely and on above average volume, so my dilemma is increasing...do I want to chase here?
Stocktrader
Hi Stocktrader,
Sorry..i missed your post re YELP...
YELP & Z has been upgraded by Barclay today........one is UP & other is down.....
I say go with strength...YELP is the one...
Saleem
Hey Saleem,
Barclays initiated at equal weight for both. $24 PT on YELP and $45 PT on Z. Definitely the comparative strength today is obvious.
Stocktrader
Hi Stocktrader,
MNST has more room on the UPside....
Saleem
Hey Saleem,
Ok, bought MNST $55.68833 and half Z at 41.66789. I've now accomplished my objectives from over the weekend (sell SPLK/PANW, buy LF/MNST/Z), so I feel more at peace.
Stocktrader
Hey Saleem,
I mentioned this earlier, but I made a firmer decision to hold CRUS too despite some recent weakness. I went back over the last quarter conference call transcript, and really think this company is doing exactly what I'd want them to do, which means I want to own the stock. I also think there's potential upside to this quarter's earnings and next quarter's guidance.
Stocktrader
Hi Stocktrader,
CRUS guidance will be much higher than consensus......but this Q maybe in-line..due to AAPL production issues.....
Saleem
Hey Saleem,
My thinking on this quarter is that they raised guidance so much in the last call that I figure they sandbagged a lot still--there's really no reason to set the bar too high when you guide massively up anyways.
The stock is definitely not acting well, however...
Stocktrader
Hey Saleem,
Wow...I barely made it out alive!
12:02 EDT SPLK Zack Buckley recommends shorting Splunk as best idea at Value Investing Congress
Stocktrader
Saleem
Did you catch this down grade on BIDU
seems like the reason is old news:
Analyst Cynthia Meng cut here rating to hold from buy and cut her price target to 125 from 135. The stock trades nears 112.90. She wrote that Baidu might miss estimates in its upcoming quarterly report, partly due to Qihoo's poaching of traffic. Meng noted that Baidu's search page view traffic fell 4% in the most recent reported quarter.
OUCH
c
Hi C,
She is the Third analyst to downgrade BIDU for the same reason...QIHU.....its also Down?
Saleem
C
AAPL is a great stock to own, I rode it up from 575 to 700. Action doesn't look good at this point. I think it will hit 50MA or break out point of 641 before it move up again. Just my 2 cents
UP
Hello long time since I saw ya
It is indeed apple time again
Just picked up my first nibble at $665 -- apple is down to $663..
You may be totally correct as to market direction of APPLE share price--but not to buy some here and miss the earnings run is crazy
Unless you believe we will have a bad earning season.
If you held and sold apple at $700 you be an ace trader in Apple. I dropped out when I thought it could not break $690. I was wrong in that.
I wil buy 50 more shares in we reach $600 or below
Up please post more often and keep up up to date on your opinions--thanks for posting
Saleem
BIDU seems to have hit bottom at $112.36
C
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