Sunday, November 25, 2012

What next for S&P 500 ?

S&P 500 has been UP five straight trading days, it is UP 4.90% or 65.80 points.

 Technicians are looking @ 1420 as resistance, which is less than 11 points away.

 Resistance are made to be broken or taken out when there is enough momentum.

 RSI @ 53.55 which leaves room for further gains

 There could be further buying pressure as month end is approaching

 Many traders including hedge funds are not participating in this rally due to fiscal cliff issue....

 By the time "fiscal cliff is resolved" market may be lot higher

 We also may face the performance issues as end of November approaches.

 All in all "trend is your friend"

 YES..Indices may react to ongoing issues like Greece / EU or Fiscal Cliff every so often..but trend is upward for now.....

 Black Friday / Cyber Monday Sales are another bullish factor....

 Many stocks in different sectors are on the move now, big gains can be made in many stocks IF patience is exercised......

 SO...get back into doing research for picking "new stocks" where gains may be "above the charts"

 IF you want to evaluate your stock picks compare it against major indices on a weekly basis.

 BLOG does NOT give buy or sell.

 Saleem
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10 comments:

  1. stocktrader_1996November 26, 2012 at 8:05 AM

    Hey Saleem,

    I made a few moves this morning to take some profits on slower movers/less robust stories and enter some of my better ideas. I sold TM at 86.60 after a great run and PRU at 51.47 ahead of large resistance and market/bond sensitivity. I added PFPT at ~10.95 average and am looking to add to STLD on more dip.

    Stocktrader

    ReplyDelete
  2. Stocks100November 26, 2012 at 8:39 AM

    Hi Stocktrader,

    TM was & is a great performer..green today...

    Good luck with PFPT & future "buy on the dip"

    Saleem

    ReplyDelete
  3. cNovember 26, 2012 at 8:51 AM

    S

    be happy today
    AMAZON is doing real fine!

    So to is APPLE up!!!!!!!!!
    looking at PSEC yield 11%

    Market may close green
    C

    ReplyDelete
  4. Stocks100November 26, 2012 at 9:28 AM

    Hi C,

    I like your OPTIMISM about close....

    Green is always good....

    AMZN has been a winner lately.....AAPL looking very good especially after Collin Gillis saying its going below $500????

    Saleem

    ReplyDelete
  5. cNovember 26, 2012 at 9:34 AM

    Saleem

    Did you mean $500 or $600 for price target

    lots of news about retail sales
    may push stocks in that sector a lot higher
    like TJ MAX and HD , LOWES and Amazon

    good for you
    C

    ReplyDelete
  6. Stocks100November 26, 2012 at 9:37 AM

    Hi C,

    Sorry the analyst is Barry Ritzholz..saying below $500

    http://finance.yahoo.com/blogs/daily-ticker/apple-could-fall-below-500-share-barry-ritholtz-135257198.html

    Here is the link..

    Saleem

    ReplyDelete
  7. cNovember 26, 2012 at 9:56 AM

    S

    analyst are all over the place on apple:

    Citigroup restarted coverage of Apple share PRICE:

    (NASDAQ:AAPL) on Monday with a buy rating and a price target of $675, even as the firm’s analyst Glen Yeung also pointed out what he said were potential weaknesses of the stock that have come into focus recently.

    Gotta love the hype
    C

    ReplyDelete
  8. Stocks100November 26, 2012 at 10:16 AM

    Hi C,

    Citi analyst is carrying AAPL nicely today....

    Saleem

    ReplyDelete
  9. cNovember 26, 2012 at 10:49 AM

    S

    Hurray
    Up $16 smackers today

    I should have bought more shares at $553
    Still got shares at $647

    So $675 prices target works for me

    Take a look at SDRL a double divided may push stock price 3 smackers! and you get double dividend

    C

    ReplyDelete
  10. Stocks100November 26, 2012 at 11:41 AM

    Hi C,

    I am not into any dividend stocks, my focus is "fast growth"....

    Saleem

    ReplyDelete