Wednesday, September 5, 2012

Dow closed green....NICE !!!!

Indices closed mixed with Dow showing a green close.

S&P 500 closed @ 1403.44

RSI @ 53.85

CMF @ 0.153

Internals were :

UP volume led by 1.06 to 1 in NYSE & .96 to 1 in Nasdaq

Declining stocks led by 1.10 to 1 in NYSE & 1.23 to 1 in Nasdaq

New net 52 wk highs were leading by 138 in NYSE & 76 in Nasdaq

VIX closed Down 1.33% @ 17.74

In my portfolio :

Sold NTES

Doubled my position in LEN @ $32.88

Portfolio is EXPE,LVS,LEN,TCK

Here is my portfolio weighting :

LEN  36.50%

LVS  23.93%

TCK  20.29%

EXPE 19.28%

Exposure 73%

AH ER :

PAY Down 11.02%

OCZ Down 21.08%

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, stage is all set for ECB President Mario Draghi to deliver, i am hopeful that his details should impress world markets. IF there is EUPHORIA, do not forget to book profit. After euphoria there may be a long digestive phase.

BLOG does NOT give buy or sell.

Saleem

23 comments:

c said...

SALEEM

So sorry about NTES=whooa

Excellent buy for LEN
Home builders are hot

My want to look at APPLE again
My SFL is still climbing up--my best performer

Good luck
C

stocktrader_1996 said...

Hey Saleem,

Massive ADP beat--wow!! :)

Stocktrader

Stocks100 said...

Hi C,

NTES was stuck near lower end of its trading range.....technically not healthy & $$ doing nothing but stagnating.....

Looked @ AAPL, BIDU...but went for LEN..all on technicals......

Saleem

Stocks100 said...

Hi Stocktrader,

YES ADP signalling "good things for Jobs report"

Saleem

stocktrader_1996 said...

Hey Saleem,

It looks like I'll get my chance on OCZ...3.85 PM currently.

Stocktrader

Stocks100 said...

Hi Stocktrader,

OCZ price is better than fire sale...

Saleem

stocktrader_1996 said...

Hey Saleem,

Got OCZ at 3.98. It may not do much for now, but I think the downside is extremely limited.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Do you know why STX is down 4%

Good luck with OCZ...

Saleem

c said...

SALEEM

I am so glad that you avoided BIDU
Down again!

As for LEN up and away!!!!!!!!!!

Jobs report was a positive Gosh who knew
BLTA
C

Stocks100 said...

Hi C,

It is all about Mario today......

Saleem

stocktrader_1996 said...

Hey Saleem,

Sorry for the slow response--I'm on school dropoff duty again.

06:51 EDT STX Seagate downgraded to Hold from Strong Buy at Needham

MARKET TALK: Weak Demand Weighing on Hard-Drive Firms -Needham

Last update: 9/6/2012 10:08:58 AM

10:08 EDT - OCZ's bombshell about a supply shortage of NAND flash memory has led Needham to downgrade the data-storage company to hold as the investment bank says conditions in the broader hard-disk-drive space "have not materialized to even the low levels anticipated" in July. Citing headwinds from weak demand in Europe and weakening in China, plus lackluster demand for Ultrabook notebooks and the potential for a lower-than-expected bump from Windows 8, Needham also cut HDD maker Seagate (STX) to hold and lowered its price target on Western Digital (WDC) to $53 from $61. As OCZ slumps 21% and hits a 21-month low, STX drops 4.1% amid today's market rally and WDC is flat at $41.84.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Thank you so much on STX downgrade.

I am thinking of buying a small exposure in OCZ......

Saleem

stocktrader_1996 said...

Hey Saleem,

OCZ seems like a good value even at these low 4s levels, but it might be slow for a while until one of the catalysts develop. I still find it very important they aren't needing cash any time soon--that removes one of the big negatives in the stock in my opinion.

Besides that, the only way OCZ isn't worth $4 is if the company is lying about the demand/backlog, but that seems highly unlikely given how many times they were asked and talked about it (although didn't provide the exact number, just that it was a large increase over last quarter--their Q just ended and they were counting still). Their full earnings report in early October will showcase those numbers in more detail and may be the catalyst for upside.

Good luck with your decision either way :).

Stocktrader

c said...

SALEEM

THis is news too:

The Institute for Supply Management's gauge of service-sector activity rose to 53.7 in August, the highest level since May, from 52.6 in July. The index was expected to fall slightly to 52.5.

C

Stocks100 said...

Hi Stocktrader,

Bought OCZ @ $4.13.....

Saleem

stocktrader_1996 said...

Hey Saleem,

Used the rest of my cash this morning:

Bought a full position in GGC at 39.075--thank goodness for a downgrade!

Bought an approx half position in YELP at 24.66.

Stocktrader

Stocks100 said...

Hi C,

Thanks for ISM update..i was busy reading up on OCZ this AM....

Saleem

Stocks100 said...

Hi Stocktrader,

Good luck with GGC & YELP....

YELP & OCZ were both @ 25% margin in Canada....

Saleem

c said...

Saleem

J the Cramer, says stay the course--now he is a bull

Also says buy Frontier and S as speculation--just mentioning just mentioning....

As for SFL we be $17.38 --Yea ha! Giddy - up $18 coming
Fast money was saying LEN was a super buy.
Fast money at lunch time put this out. Happy times for you You are up 3.4% in LEN , goodie for you

My CNQ finally broke out-- up 5%........ Paid $37.....
Unbelievable, MS is up huge today I paid $18.90

VBTA ---wow what a market I am minting money again.. ly dee do --hey hey
C

Stocks100 said...

Hi C,

Nice to see you "market euphoric"...this party may last for few more days.......

Most stocks are doing well for everyone......

Enjoy this "breakout"

Saleem

stocktrader_1996 said...

Hey c,

I was lucky to pick up a housing play in GGC while it was down earlier. It has the added bonus of a natural gas input which I hope drives earnings also.

Stocktrader

stocktrader_1996 said...

Hey Saleem,

Here's an article from Yahoo! about options activity on OCZ today:

http://finance.yahoo.com/news/ocz-technology-still-play-170425872.html

Pretty much in line with some of my thinking although I certainly can't be sure enough on timing to go with these guys. I'll just take the stock and wait :).

Stocktrader

Stocks100 said...

Hi Stocktrader,

You do your dd with every stock, which is the proper way to invest or trade......

I read that story about option activity....OCZ is a very interesting speculative play for me....

Saleem