Indices are down after being UP earlier.
S&P 500 @ 1402.31
Internals are negative
Oil Down 6 cents
Gold Down $2.50
Canadian $ Down 51 tick @ 100.91
VIX Down 1.5% @ 17.71
Portfolio is EXPE,LVS,LEN,NTES,TCK.....
Most stocks are down
@ 1.59 following are green :
EXPE,LVS,JCP,YUM,CMG,CLF,GOOG,
LNKD,FB,YELP,AGU,ZNGA,CIEN,FNSR,
MOS,SBUX,MS,GS......
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
Sold my WPRT at 33.80133. I'm really disappointed that I had to sell, but now being below all the moving averages, with a rounding top formation in the last two months, and no profits to speak of, I fear things could go south for a while. I will have to wait for better price action before re-entering. Unfortunately, I'll probably miss another big up move again...
Stocktrader
Hi Stocktrader,
It is almost impossible to catch every UP move in all stocks....you have a very good technical observation & make decisions accordingly......
I am sure, you will come up with another profitable idea.
Saleem
Hey Saleem,
The $TRAN chart is amazingly horrible, while the $RUT is kissing breakout levels--strange market.
Stocktrader
Hi Stocktrader,
Some stocks are very strong while others are weak.....tale of this TAPE.
Saleem
Hey Saleem,
Fascinating conference call by OCZ related to their revenue shortfall. Their quarterly bookings *exceeded* guidance but their supply of flash memory was highly lacking, just like many other flash users in the business (they basically said AAPL is sucking it all up), so they weren't able to deliver to all the demand and are carrying a huge backlog into Q3 as a result.
Other highly interesting facts were that they *won't* need to raise capital for at least the foreseeable future--this is a major plus for me. Additionally, they were very coy when asked about merger discussions with STX and WDC.
Even though this supply shortage will likely last for months in their opinion, they hope they can more quickly ramp their new products that use a different kind of flash which would alleviate their supply shortage and also gain market share from competitors who are left behind.
I think I will be compelled to get some in the low $4s if I can, even though I might have to sit on it a while.
Stocktrader
Hi Stocktrader,
I saw the slump AH in OCZ.....
I know you follow this stock closely, so your analysis is generally bang on.
Good luck with OCZ purchase @ fire sale.....
Saleem
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