Indices are in "correction mode" as politicians are showing their "double talk on TV".....
S&P 500 @ 1383.85, low today 1381.28 fraction above 200 DMA @ 1380.74
RSI @ 34.14
Internals are negative by 2 to 1
Oil UP 33 cents
Gold UP $13.60
Canadian $ Down 36 tick @ 100.03
VIX Down 2.25% @ 18.65
In my portfolio :
Sold RVBD
Portfolio is APKT,AMZN,BIDU,LVS,PANW
Exposure 83%
Most stocks are down
@ 1.50 following are green :
APKT,AUY,GG,AEM,TZA,LRCX,C,
QCOM,ARNA,NVDA,EGO,SLW,
BAC,MLNX,KOG.....
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
It is pretty stunning that we can be this much down again after losing 300+ yesterday. Poor action for sure...
I am really tempted to add to CRUS and may do so tomorrow morning with the one cash position I have left.
Stocktrader
Hi Stocktrader,
I am not surprised by down move today....after a major breakdown it takes few days to find real support....DOW & NASDAQ are below 200 DMA...that is where S&P 500 may be headed eventually....
About adding more CRUS...it depends on your comfort level.
Saleem
Hey Saleem,
Bought CRUS 30.829.
Ended the day +0.2% :)
Stocktrader
Hi Stocktrader,
WOW...close price on CRUS.....
.2% gain...you have done exceptionally well...
I am down 2% in Stocks plus currency loss which i will know around 5.15
Saleem
Hey Saleem,
I figured tomorrow would be the oversold bounce day, so I wanted the exposure upfront. I'm always afraid good stocks will get an upgrade and I'll miss out on 2% early. Plus, I wonder if AAPL will get some positive analyst comments or announce shareholder friendly moves which could impact positively the AAPL-halo stocks.
The TZA did well today obviously, but I'm not yet sure if it's the right amount or how long I'll be able to stand holding it, besides the fact that I have a history of starting the hedge right near market bottoms!
Stocktrader
Hi Stocktrader,
I think there is another down day on Friday...we may improve by close...that is my educated guess....
SO based on that you should have 1.5day of TZA bonanza $$$$$
Do not overstay your welcome with TZA family.
Saleem
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