Wednesday, October 3, 2012

Indices closed UP .09% to .49%....NICE !!!!

Indices fought profit taking by closing in green.

 S&P 500 closed @ 1450.99

 RSI @ 58.68

 CMF 0.031

 Internals were :

 UP volume led by 1.14 to 1 in NYSE & .84 to 1 in Nasdaq

 Advancing stocks led by .98 to 1 in NYSE & .84 to 1 in Nasdaq

 Net new 52 wk highs were leading by 121 in NYSE & 65 in Nasdaq

 VIX closed Down 1.78% @ 15.43

 Oil closed @ $88.14

 Gold closed @ $1779.80

 In my portfolio :

 Sold EXPE

 Sold LEN

 Portfolio is BIDU,DNKN,LVS,YHOO

 Exposure 60%

 Stocks which were UP 2% or more included LEN,EXPE,DNKN,
APKT,CRUS,M,AMZN,LNKD,PANW,MA,C,ARNA,BAC....

 AH Futures Mixed

 AH Asian Markets Mixed

 AH Oil & Gold Down

 About market, Internals are giving sell signal. It is important to plan booking profit. Market is extremely vulnerable to pullback. I may do more selling IF profit is there. Please be very careful as this rally has gone without any serious pullback.

 BLOG does NOT give buy or sell.

 Saleem
at

15 comments:

  1. cOctober 4, 2012 at 6:14 AM

    SALEEM

    I have felt for at least 3 months that we are over due for correction-----APPLE is down today!

    BIDU and DNKN are up PM

    SFL is down if it drops below $15 I may get some more
    Or just hold the cash and wait and see
    But I am addicted to the action--I like profits! :)

    PS

    OOM is a VOIP phone system that is free phone system with unlimited talk time--I am porting my Verizon phone number.
    So buy the Ooma box and have happy days!!!!
    C

    ReplyDelete
  2. Stocks100October 4, 2012 at 6:17 AM

    Hi C,

    Thanks for the info on OOMA.

    About correction.....its inevitable ..when is the question ?

    Booking profit is better than risking it....

    Saleem

    ReplyDelete
  3. stocktrader_1996October 4, 2012 at 6:38 AM

    Hey Saleem,

    Sold OCZ at 3.301. The love affair might continue after earnings :)...(which they should miss rather badly).

    Stocktrader

    ReplyDelete
  4. Stocks100October 4, 2012 at 6:42 AM

    Hi Stocktrader,

    I am glad you are seperated from OCZ.....time to rethink this relationship.

    Saleem

    ReplyDelete
  5. cOctober 4, 2012 at 6:46 AM

    Saleem

    I gottaa love Yhoo

    J Cramer says excellent outcome now with management change, good things to come

    I believe that you got a good horse to run with YHOO--yahoo :)

    I may get some if drops to $15 again....

    Good Luck
    C

    ReplyDelete
  6. Stocks100October 4, 2012 at 7:02 AM

    Hi C,

    YHOO dropped 5 cents already....

    Saleem

    ReplyDelete
  7. stocktrader_1996October 4, 2012 at 8:14 AM

    Hey Saleem,

    NTAP seems interesting here. I wonder if they can really be maintaining/gaining market share against those big boys. Their conference call was definitely upbeat, but that's standard.

    Stocktrader

    ReplyDelete
  8. Stocks100October 4, 2012 at 8:19 AM

    Hi Stocktrader,

    NTAP is near 52 wk low..not a good sign....

    Sold YHOO.....

    Down to 3 losers.....

    Saleem

    ReplyDelete
  9. stocktrader_1996October 4, 2012 at 8:33 AM

    Hey Saleem,

    Yes, it's gotten double-hit by XTRX in recent weeks (one of their suppliers) and then ORCL coming right out and saying they won't buy NTAP. I just wonder if that's all the bad news? It seemed like they really had a good, new product lineup and their new partnership with FIO could prove valuable. I don't know, I don't have a lot of free buying power currently, but these are some of the thoughts I have.

    As for SPLK, given the numerous bad stories recently (short-seller disclosing position and thesis, lockup expiration next week, INFA warning today), it is really find strong support chart-wise. Do you think I re-enter here? or really wait for next week's lockup issue to resolve, which is my biggest of those concerns and merely a short-term problem?

    Stocktrader

    ReplyDelete
  10. stocktrader_1996October 4, 2012 at 8:42 AM

    Hey Saleem,

    A couple of corrections: "XRTX" is the NTAP supplier and the SPLK lockup expiry is actually two weeks away.

    Stocktrader

    ReplyDelete
  11. Stocks100October 4, 2012 at 9:00 AM

    Hi Stocktrader,

    My suggestion is either wait or let the price drop further in fear of lockup....still only $4 away from 52 wk high....

    Saleem

    ReplyDelete
  12. stocktrader_1996October 4, 2012 at 9:14 AM

    Hey Saleem,

    Yes, you are probably right...

    I feel underexposed with this 10.5% cash, and I think tomorrow sets up well for jobs.

    Stocktrader

    ReplyDelete
  13. Stocks100October 4, 2012 at 9:24 AM

    Hi Stocktrader,

    I will see how Jobs report is taken by market.........

    Today's strength is getting me "more nervous"......

    Saleem

    ReplyDelete
  14. stocktrader_1996October 4, 2012 at 10:24 AM

    Hey Saleem,

    I decided to buy PRU at 55.28. I've been looking to get some financial exposure leveraged to an increasing stock market/yields, and the chart seems to line up right now for a buy. I used up my whole 10+% cash for this position since it is relatively "safer" than my usual plays and I wanted full exposure.

    Stocktrader

    ReplyDelete
  15. Stocks100October 4, 2012 at 10:33 AM

    Hi Stocktrader,

    PRU is ready for a "golden cross"..

    Good pick.

    Saleem

    ReplyDelete