Monday, December 31, 2012

Indices closed UP 1.28% to 2.00%....NICE !!!!

Indices exploded UP on optimism about budget deal.

S&P 500 closed @ 1426.19

RSI @ 53.06

CMF @ 0.051

Internals were :

UP volume led by 31 to 1 in NYSE & 13.49 to 1 in Nasdaq

Advancing stocks led by 6.10 to 1 in NYSE & 4.10 to 1 in Nasdaq

Net new 52 wk highs were leading by 85 in NYSE & 40 in Nasdaq

VIX tumbled 20.69% @ 18.02

Oil closed @ $91.82

Gold closed @ $1675.80

Stocks which were UP 3% or more included CRUS,JCP,TCK,KORS,
APKT,AAPL,M,EXPE,
NFLX,AEM,GG,SLW,
LVS,CLF,MU,FNSR,
X,STLD,SINA,QIHU,
KOG,FCX......

About market, they are still negotiating in Senate & IF they have an agreement, then voting process will start. House is expected back on New Year around noon to take centre stage. Like everyone else, i am hoping to see this circus comes to an end, but i have a funny feeling that we have not heard the last from this self-serving group of grown-ups.

Technically we are looking healthy as all indices are above 50 & 200 DMA. Let us all hope that our trading or investment is not held hostage by politicians. Nobody had factored "politicians" as a variable in investment thesis or analysis.

Happy New Year to all BLOG visitors.

BLOG does NOT give buy or sell.

Saleem

Indices UP .33% to 1.13%.....on hope of a deal....

Indices are hoping for a last second deal from politicians.

S&P 500 @ 1412.55, low was 1398.11 & high so far of 1417.93

Internals are positive by almost 3 to 1

Oil UP 80 cents

Gold UP $21.40

Canadian $ UP 31 tick @ 100.65

VIX Down 11.14% @ 20.19

Portfolio is CRUS,KORS,JCP,TCK,AUY

Most stocks are UP

@ 2.10 following are red :

MLNX,PANW,MCD,ECA,BJRI.....

BLOG does NOT give buy or sell.

Saleem

Sunday, December 30, 2012

Deal or no deal.......

Politicians are busy working on some sort of deal.....outcome of that coming through remains as elusive as ever.....whole world knows for month what is keeping politicians apart...but politicians rhetoric is the same old "solve nothing mode"

Here is technical picture of our indices :

S&P 500 below 50 DMA

Nasdaq below 50 & 200 DMA

Dow below 50 & 200 DMA

CMF is still positive but getting awfully close to negative....

Considering the damage to investors psychy by politicians, indices has held up relatively well.

As the year has closed for most traders, it is important to evaluate trading result.

For me, 2012 was saved by my currency exposure, i ended up positive for 2012 by +.20%......way less than a % gain...but gain is a gain......

My worst trade was on NTES which i bought June 21st 2012 for $62.69 & sold on Sep 5th, 2012 @ $48.80..a loss of $13.89 per share or losing 22.16%........IF i had held this stock until now, i would have lost another $6.46 per share or further loss of 13.24%........i generally do not stay long in any losing scenario but i stayed too long with steeper loss in NTES.....i generally get out close to 10% max as volatility has been very high in 2012.......

My trading resolution for 2012 is to keep locking profit & buy back the same stock @ lower price....in my universe i have about 50 stocks which i keep a very close eye on trading pattern.....IF i had changed this strategy in 2012...i would have gone into loss scenario. Most stocks keep trading in a 10% range......

I sincerely hope that you have looked @ your 2012 trades closely to come up with an "executable trading style"

IF there is a deal tonight & a yes vote by both Senate & House, i expect a strong rally......quality of agreement may dictate IF rally can be sustained or sold......

Good luck in your review of 2012 & strategy for 2013.

BLOG does NOT give buy or sell.

Saleem

Friday, December 28, 2012

Indices closed down .86% to 1.21%......

Indices were in a freefall in last 30 minutes, when it was clear deal is not in the making.

S&P 500 closed @ 1402.43, low was 1401.58

RSI @ 42.50

CMF @ 0.019

Internals were :

Down volume led by 4.80 to 1 in NYSE & 4.85 to 1 in Nasdaq

Declining stocks led by 2.15 to 1 in NYSE & 2.06 to 1 in Nasdaq

Net new 52 wk were mixed, UP 6 in NYSE & Down 6 in Nasdaq ( not a typo)

VIX jumped 16.69% @ 22.72

Oil closed @ $90.80

Gold closed @ $1655.90

Canadian $ closed @ 100.48

Stocks which closed green included M,RIMM,MLNX,
ARNA,SLW,SINA,QIHU......

Portfolio weighting is :

KORS   26.21%

AUY     24.03%

JCP      21.39%

TCK     14.45%

CRUS   13.92%

Exposure 67%

Next post on Sunday by 2 PM

BLOG does NOT give buy or sell.

Saleem

Thursday, December 27, 2012

Indices closed down .12% to .14%......

TAPE was fixated on Fiscal Cliff swings.

S&P 500 closed @ 1418.10

RSI @ 49.28

CMF @ 0.064

Internals were :

Down volume led by 1.76 to 1 in NYSE & 1.79 to 1 in Nasdaq

Declining issues led by 1.20 to 1 in NYSE & 1.33 to 1 in Nasdaq

Net new 52 wk highs were mixed UP 18 in NYSE & Down 7 in Nasdaq

VIX closed Down .05% @ 19.47

Oil closed @ $90.87

Gold closed @ $1633.70

AH Futures Mixed

AH Asian Markets UP

AH Oil & Gold UP.

About market, TAPE is hostage to politicians. It is sad to see the same pattern of waiting till last second is emerging again. It is important to stay in the market than out, one day in next few days we may have a deal & market may explode UP....but reverse may be true also IF there is no agreement by Jan 1, 2013. It is sickening to see this process every year, i sincerely hope, that there has to be a better way to conduct critical decision making.

BLOG does NOT give buy or sell.

Saleem

Indices down 1.01% to 1.08%......

Politicians are back to their old self serving partisan game which is impacting everyone else.

S&P 500 @ 1404.54, low so far is 1401.80

Internals are negative by 3 to 1

Oil down 13 cents

Gold UP $2.80

Canadian $ Down 22 tick @ 100.42

VIX UP 6.2% @ 20.70...highest level in a long time.......

Portfolio is CRUS,KORS,JCP,TCK,AUY

Most stocks are down

@ 2.47 following are green :

AUY,AEM,GG,EXPE,CMG,PCLN,LULU,
HMC,COH,SLW,AGU....

BLOG does NOT give buy or sell.

Saleem

Wednesday, December 26, 2012

Indices closed down .19% to .74%.......

Indices were caught in Fiscal Cliff deadlock again with no new development.

S&P 500 closed @ 1419.83

RSI 50.11

CMF 0.087

Internals were :

Down volume led by 1.38 to 1 in NYSE & 2.33 to 1 in Nasdaq

Declining stocks led by 1.85 to 1 in NYSE & 1.85 to 1 in Nasdaq (no typo)

Net new 52 wk highs were leading by 37 in NYSE & 12 in Nasdaq

VIX closed UP 4.79% @ 19.48

Oil closed @ $90.98

Gold closed @ $1660.70

AH Futures Down

AH Asian Markets UP

AH Oil & Gold Down

About market, Senate is expected to propose a watered down plan for vote. IF 7 Republican vote for this plan, then we have a good situation for the market & investors psyche. Market should get some hope from Senate & eventual passing by House which may come very quickly. Thursday should be a good day compared to last three days.

BLOG does NOT give buy or sell.

Saleem

Indices down .20% to .60%.......

Indices are down again as fiscal flu is on again, nothing seems to work on this virus.....

S&P 500 @ 1419.97, low so far 1416.43

RSI @ 50.24

Internals are negative

Oil UP $2.21

Gold UP $1.10

Canadian $ Down 22 tick @ 100.57

VIX UP 4.03% @ 19.34

Portfolio is CRUS,KORS,JCP,TCK,AUY

Most stocks are down

@ 1.42 following are green :

JCP,CRUS,POT,CF,GG,RIMM,CLF,NFLX,
BIDU,FFIV,LNKD,ZNGA,JDSU,FNSR,
CIEN,C,ARNA,MOS,X,SINA,QIHU,BAC,
IBN,FCX.....

BLOG does NOT give buy or sell.

Saleem


Monday, December 24, 2012

Indices closed down .24% to .39%......

In slow holiday trade indices had fiscal cliff hangover.

S&P 500 closed @ 1426.66

RSI @ 53.36

CMF @ 0.062

Internals were :

Down volume led by 1.71 to 1 in NYSE & 1.80 to 1 in Nasdaq

Declining stocks led by 1.48 to 1 in NYSE & 1.73 to 1 in Nasdaq

Net new 52 wk highs were leading by 36 in NYSE & 26 in Nasdaq

VIX unchanged @ 17.84

Oil closed @ $88.72

Gold closed @ $1659.50

Canadian $ closed @ 100.87

Portfolio is CRUS,KORS,JCP,TCK,AUY

Stocks which closed UP included CRUS,KORS,JCP,
HMC,YHOO,CMG,CF,AMZN,AAPL,PANW,
GG,LULU,DNKN,LNKD,MA,V,FB,GMCR,
QCOM,ARNA,X,SLW,MS,BJRI,AGU....

Next post on Wednesday by 2 PM....

BLOG does NOT give buy or sell.

Have a very happy Christmas !!!!!

Saleem

Saturday, December 22, 2012

Rally to resume next week.......

Politicians are pretty much out of the picture as they are given a task of  "do nothing mandate"

Indices should resume their march towards higher highs.

S&P 500 should be able to cross 1448 easily....

Next target is to take out 1464 then 1474.......

Early new year should be able to get close to 1500......

TAPE has been extremely resilient as witnessed on Friday.

World economy has resurrected itself from worldwide slowdown.....

China is showing a gradual uptick in their economy.

India has given itself lowest target of GDP growth in many years.

US & Canadian economy should hit 3% GDP growth by year end.

As year end is here, it is important to look back & see where we all have made trading mistakes. Last day of trading for 2012 is 24th for Canada & 27th for US........

Looking @ 2013, commodities may be in vogue, they are already showing nice TAPE action.

Gold has been lagging badly, but it may show some life soon.

Oil has been weak & is expected to be weak in 2013.

SO...there is lot to do in next few days in terms of closing 2012 & planning 2013 with more experience.

Good luck with your strategy for 2013.

BLOG does NOT give buy or sell.

Saleem

PS...this BLOG was done early, as i will be tied up with close family.

Friday, December 21, 2012

Indices closed down .91% to .96%......

Indices were given the usual by politicians who left "no doubt about their incompetence".....

S&P 500 closed @ 1430.15

RSI @ 55.06

CMF @ 0.088

Internals were :

Down volume led by 3.89 to 1 in NYSE & 4.57 to 1 in Nasdaq

Declining stocks led by 2.07 to 1 in NYSE & 1.82 to 1 in Nasdaq

Net new 52 wk highs were leading by 65 in NYSE & by 14 in Nasdaq

VIX closed UP .96% @ 17.84

Oil closed @ $88.66

Gold closed @ $1660.10

Canadian $ closed @ 100.58

In my portfolio :

Sold RIMM

Portfolio is CRUS,KORS,JCP,TCK,AUY

Here is my portfolio weighting :

KORS 27.43%

AUY   23.35%

JCP    21.25%

TCK   14.24%

CRUS 13.73%

Exposure 67%

Stocks which closed green included CRUS,TCK,AUY,
AEM,CMG,PANW,FFIV,FNSR,SNDK,MLNX,
MCD,EGO,MGA......

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, December 20, 2012

Indices closed UP .20% to .55%.....NICE !!!!

Indices managed another gain with all indices in green, closing @ high of the day.

S&P 500 closed @ 1443.69

RSI @ 62.19

CMF @ 0.136

Internals were :

UP volume led by 3.25 to 1 in NYSE & 1.40 to 1 in Nasdaq

Advancing stocks led by 2.13 to 1 in NYSE & 1.56 to 1 in Nasdaq

Net new 52 wk highs were leading by 141 in NYSE & 74 in Nasdaq

VIX closed UP 1.79% @ 17.67

Oil closed @ $90.13

Gold closed @ $1645.90

Stocks which closed UP by 1% or more included KORS,RIMM,
LULU,AMZN,MA,V,GMCR,C,QIHU,BAC,GS.....

AH News :

MU Down 2.65%

RIMM Down 9.28%

RIMM Q3 was a beat on Sales & EPS, Sales actual $2.73 Billion vs expectations of $2.65 Billion
EPS actual loss of 22 cents vs expectations of loss of 35 cents...
Cash on hand increased by $600 million to $2.9 billion....

RIMM was sold off on concern for subscription revenue, RIMM has 79 million current subscribers whose subscription revenue remains the same & revenue keeps coming @ the same rate. For new BB10 buyers they have sliding rate of 0 to say $5, for no add-on feature is 0 to features they want to pay for as add-on feature like security or other management function could be as high as $5.....shorts are using this non-existent issue as their thesis for AH selling????

AH Futures Down sharply

AH Asian Markets Down

AH Oil & Gold Down

About market, Republicans after much fanfare & wasting time, Plan B turned out to be Plan 0. Speaker got no followers, that is a sad state of non-leadership. This reflect badly on the "eventual vote" on any agreement. We are now in uncharted territory & it will take "real leadership" to resolve budget issue. In the meantime, we along with market take a "beating".......

BLOG does NOT give buy or sell.

Saleem

Indices UP .07% to .32%......NICE !!!!

Indices are UP as the saga of "budget clock turns". Speaker Boehner is talking english again vs "brawl language"......

S&P 500 @ 1440.42

RSI @ 61.23

Internals are positive

Oil UP 33 cents

Gold Down $21.30

Canadian $ UP 9 tick @ 101.29

VIX UP 1.38% @ 17.60

Portfolio is CRUS,KORS,JCP,RIMM,TCK,AUY

RIMM reports AH, expectations are Sales $2.65 Billion & EPS loss of 35 cents. It is all about "execution of BB10"...it seems that RIMM got its act together. Analysts are expecting "flat subscriber growth" which may be challenging.....

Most stocks are UP

@ 2.10 following are down :

CRUS,JCP,TCK,AUY,APKT,MLNX,CF,POT,
AAPL,M,EXPE,NFLX,GG,AEM,FCX,LEN,
LVS,PANW,BIDU,COH,CLF,ARNA,EGO,
SLW,SINA,AGU.....

BLOG does NOT give buy or sell.

Saleem

Wednesday, December 19, 2012

Indices closed down .33% to .76%......

Indices closed @ low of the day.

S&P 500 closed @ 1435.81

RSI @ 59.35

CMF @ 0.123

Internals were :

Down volume led by 1.80 to 1 in NYSE & 1.33 to 1 in Nasdaq

Declining stocks led by 1.00 to 1 in NYSE & 1.00 to 1 in Nasdaq

Net new 52 wk highs were leading by 155 in NYSE & 84 in Nasdaq

VIX closed UP 11.50% @ 17.36

Oil closed @ $89.51

Gold closed @ $1667.70

Stocks which closed green included KORS,JCP,TCK,
HMC,MLNX,CF,RVBD,LVS,PANW,BIDU,DNKN,
COH,CLF,GMCR,ZNGA,MU,CIEN,JDSU,FNSR,
NVDA,CCJ,SINA,MGA,KOG,AGU.....

AH News :

BBBY Down 3.87%

ACN   Down 5.45%

HLF    Down 7.58%

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, indices pulled back on jitters about Budget agreement. I still believe that a "framework of agreement" may be in place by end of this week. IF that does not happen, then this issue flips over to next week. One way or the other budget issue will be resolved. Market is in tune with "forced resolution" deadline of Jan 1st, 2013. Today's TAPE was quite healthy with new 52 wk highs maintaining a healthy lead. Selling was "not intense".

BLOG does NOT give buy or sell.

Saleem

Indices down .08% to .30%......

Indices are taking a much needed rest today.

S&P 500 @ 1442.39

RSI @ 63.22

Internals are positive

Oil UP $1.69

Gold Down $3.20

Canadian $ Down 12 tick @ 101.33

VIX Jumped 7.64% @ 16.76

In my portfolio :

Sold LEN

Bought RIMM @ $13.62

Portfolio CRUS,KORS,JCP,RIMM,TCK,AUY

Most stocks are UP

@ 1.48 following are red :

CRUS,RIMM,AUY,APKT,YHOO,CMG,POT,
AAPL,AMZN,EXPE,NFLX,FFIV,AEM,GG,
GOOG,PCLN,LEN,LNKD,MA,V,FB,LRCX,
BRCM,QCOM,MOS,MCD,STLD,EGO,SLW,
QIHU,ECA,BAC,MS.....

BLOG does NOT give buy or sell.

Saleem

Tuesday, December 18, 2012

Indices closed UP .87% to 1.46%........NICE !!!!

Indices had another strong day on budget optimism.

S&P 500 closed @ 1446.79

RSI @ 65.75

CMF @ 0.211

Internals were :

UP volume led by 5.75 to 1 in NYSE & 3.88 to 1 in Nasdaq

Advancing stocks led by 2.77 to 1 in NYSE & 2.64 to 1 in Nasdaq

Net new 52 wk highs were leading by 162 in NYSE & 74 in Nasdaq

VIX closed down 4.71% @ 15.57

Oil closed @ $87.93

Gold closed @ $1670.70

Stocks which closed UP 2% or more included CRUS,LEN,KORS,
CMG,RVBD,HMC,AMZN,PANW,BIDU,FFIV,CLF,PCLN,
AAPL,GMCR,FB,BRCM,JDSU,CIEN,FNSR,SNDK.....

AH Futures UP

AH Asian Markets MIXED

AH Oil & Gold UP

About market, TAPE has been very strong for two days. Today internals were strong & Volume was high. RSI is @ HIGHEST level since September 2012. In September S&P 500 went to 1474.51, we have 27.72 S&P 500 points left to reach that resistance. In other words we have another potential move UP of 1.9% in S&P 500. It is important to keep an eye on near term resistance to revisit your strategy. There is tremendous momentum currently which may take us near or over September 2012 highs.

BLOG does NOT give buy or sell.

Saleem

Indices UP .81% to 1.28%......NICE !!!!

Indices are enjoying second day of gains on Budget deal optimism.

S&P 500 @ 1444.45

RSI @ 64.91

Internals are positive by minimum 2 to 1

Oil UP 75 cents

Gold Down $23.80

Canadian $ Down 11 tick @ 101.48

VIX Down 3.33% @ 15.80

In my portfolio :

Added 30% JCP @ $20.57

Portfolio is CRUS,LEN,KORS,JCP,TCK,AUY

Exposure 82%

Most stocks are UP

@ 1.27 following are red :

JCP,AUY,YHOO,RIMM,MLNX,POT,CF,
AEM,GG,ZNGA,MU,MOS,EGO,SLW,
SINA.....

BLOG does NOT give buy or sell.

Saleem

Monday, December 17, 2012

Indices closed UP .76% to 1.32%.....NICE !!!!

Indices closed @ their best level of the day.

S&P 500 closed @ 1430.36

RSI @ 59.71

CMF @ 0.212

Internals were :

UP volume led by 4.16 to 1 in NYSE & 2.43 to 1 in Nasdaq

Advancing stocks led by 2.00 to 1 in NYSE & 2.24 to 1 in Nasdaq

Net new 52 wk highs were leading by 62 in NYSE & 24 in Nasdaq

VIX closed Down 3.88% @ 16.34

Oil closed @ $87.20

Gold closed @ $1698.20

Stocks which were UP by 2% or more included CRUS,LEN,KORS,
CMG,EXPE,FFIV,GOOG,LULU,DNKN,C,QCOM,SBUX,
CCJ,SINA,QIHU,BAC,MS,GS.....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, AH President Obama has submitted a new proposal to get budget agreement. There is a "major shift" in his position, this may bring consensus for a deal. We may have another rally due to "substantial movement" in Fiscal Cliff resolution. I will strongly suggest to book profit in stocks which is "sporting high PE". Funds should be deployed in other "relative bargain & lower PE".

BLOG does NOT give buy or sell.

Saleem

Indices UP .57% to 93%......NICE !!!

Indices are UP nicely on "movement in Fiscal Cliff"

S&P 500 @ 1426.02, high so far is 1428.23

Internals are positive

Oil UP 71 cents

Gold Unchanged

Canadian $ UP 24 tick @ 101.56

VIX Down 1.24% @ 16.29

Portfolio is :

CRUS,LEN,KORS,JCP,TCK,AUY

Most stocks are UP

@ 1.24 following are down :

JCP,TCK,AUY,APKT,YHOO,RIMM,MLNX,
POT,CF,SNDK,AEM,FCX,BIDU,CLF,
GMCR,ZNGA,FB,LRCX,MU,CIEN,
NVDA,X,SLW,MGA,KOG,WYNN,
FCX......

BLOG does NOT give buy or sell.

Saleem


Sunday, December 16, 2012

Quad witching & Fiscal Cliff in focus.....

This is the week when Fiscal Cliff has to come to a head, adding to the mix we have quad witching on Friday.

Impact of these two event either will increase volatility or may give us a pleasant surprise.

Fiscal Cliff is entering a decisive week, both democrats & republicans have done enough posturing for weeks, now it is time to deal with decision making.

Quadruple witching on Friday can create volatility on Thursday.

Looking @ S&P 500 which has lost 1.86% in last two trading days, is looking vulnerable based on above two issues.

IF indices gets jittery we may test support near 200 DMA in S&P 500 which is @ 1387.49

BUT IF IF we get some sense of resolution about Fiscal Cliff then we can jump towards September highs of 1474.51

As many of you have noted that many laggards are in a "major bull run"...these stocks are defying TAPE for few months now..be it YHOO,JCP,APKT,RIMM they are showing major moves....

SO..it is not important to be FIXATED on obvious issues which will be resolved one way or the other, but to stay close to "positive TAPE action"...........

Many all knowing pundits are "grudgingly acknowledging major moves in stocks they ignored or said NOT to buy".

This market character has changed, small to medium caps stocks are getting allocation by many institutions.It is important to notice where "money flow" is going.

Indices may be under pressure, but many stocks are continuing their march to higher highs.

Good luck with your strategy.

BLOG does NOT give buy or sell.

Saleem

Friday, December 14, 2012

Indices closed down .27% to .70%.....

Anxiety over Fiscal Cliff trumped PMI improving Data from China.

Their is technical damage being done in two indices, S&P 500 below 50 DMA & Nasdaq below 50 & 200 DMA.....Dow remains above 50 & 200 DMA.....

S&P 500 closed @ 1413.58

RSI @ 51.62

CMF @ 0.210

Internals were :

Down volume led by 1.14 to 1 in NYSE & 1.07 to 1 in Nasdaq

Declining stocks led by 1.16 to 1 in NYSE & 1.03 to 1 in Nasdaq

Net new 52 wk highs were mixed, UP 30 in NYSE & Down 4 in Nasdaq

VIX UP 2.66% @ 17.00

Oil closed @ $86.73

Gold closed @ $1697.00

Canadian $ Down 17 tick @ 101.37

Stocks which closed UP 1% or more included KORS,TCK,
RIMM,APKT,YHOO,CF,PANW,BIDU,CLF,MU,FNSR,
ARNA,X,STLD,SINA,MS,IBN,FCX......

Here is my portfolio weighting :

KORS 21.75%

AUY   20.41%

LEN    20.02%

JCP     15.13%

TCK    11.96%

CRUS  10.73%

Exposure 79%

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, December 13, 2012

Indices closed down .56% to .72%........

Indices closed down on Profit taking & deal uncertainty.

S&P 500 closed @ 1419.45, low today 1416.00

RSI @ 55.22

CMF @ 0.225

Internals were :

Down volume led by 2.64 to 1 in NYSE & 1.58 to 1 in Nasdaq

Declining stocks led by 2.37 to 1 in NYSE & 1.64 to 1 in Nasdaq

Net new 52 wk highs were leading by 18 in NYSE & by 6 in Nasdaq

VIX closed UP 3.82% @ 16.56

Oil closed @ $85.89

Gold closed @ $1696.80

In my portfolio :

Bought TCK @ $34.90

Rebought JCP @ $20.75

Portfolio is CRUS,LEN,KORS,JCP,TCK,AUY

Exposure 79%

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, S&P 500 have pulled back 1.57% in last 24 hrs, this is a "normal & healthy pullback". Indices are all set to go higher. Profit taking should be viewed as "entry point" in many stocks. I am hopeful that positive news on Fiscal Cliff should be obvious by Monday of coming week.

BLOG does NOT give buy or sell.

Saleem

Indices down .52% to .79%......

Indices are down on profit taking & wait for any movement on Fiscal Cliff issue.

S&P 500 @ 1418.43

Internals are negative

Oil Down 32 cents

Gold Down $20.90

Canadian $ Down 3 tick @ 101.53

VIX UP 2.57% @ 16.36

In my portfolio :

Sold JCP

Sold LULU

Bought CRUS @ $27.42

Portfolio is CRUS,LEN,KORS,AUY

Exposure 59%

Most stocks are down

@ 1.54 following are UP :

JCP,LULU,APKT,CMG,RIMM,YHOO,NFLX,GOOG,
LVS,COH,CLF,MA,FB,CIEN,FNSR,X,STLD,QIHU,
ECA,MS,BJRI,WYNN,GS.....

BLOG does NOT give buy or sell.

Saleem

Wednesday, December 12, 2012

Indices closed mixed.......

Fed Q&A put the focus back on Fiscal Cliff.

S&P 500 closed @ 1428.48, high was 1438.59

RSI @ 61.33

CMF @ 0.201

Internals were :

Down volume led by .78 to 1 in NYSE & 1.35 to 1 in Nasdaq

Declining stocks led by 1.06 to 1 in NYSE & 1.56 to 1 in Nasdaq

Net new 52 wk highs were leading by 89 in NYSE & 49 in Nasdaq

VIX closed UP 2.44% @ 15.95

Oil closed @ $86.77

Gold closed @ $1717.90

Stocks which were UP 1% or more included LEN,JCP,AUY,
HMC,APKT,RIMM,NFLX,AEM,GG,FCX,LVS,BIDU,
GMCR,ZNGA,CIEN,C,MOS,EGO,SLW,CCJ,SINA,
WYNN......

AH Futures Mixed

AH Asian Markets UP

AH Oil & Gold Down

About market, Indices reacted to Fiscal Cliff focus created by Mr Bernanke in his Q & A. TAPE needed a rest & today was a good day to do just that. I still expect Fiscal Cliff resolution in the week of 17th. It is wise to stay in this market. Today's selling was pretty tame, a reversal of 70 Dow points.

BLOG does NOT give buy or sell.

Saleem

Indices UP .13% to .44% on Fed policy statement.....NICE !!!!

Indices are UP as Fed gave what market was expecting, bond buying until 6.5% unemployment.

S&P 500 @ 1434.61, high today 1438.59

RSI @ 63.86

Internals are positive

Oil UP 96 cents

Gold UP $6.50

Canadian $ UP 28 tick @ 101.70

VIX Down .71% @ 15.56

Portfolio is LEN,LULU,KORS,JCP,AUY

Most stocks are UP

@ 2.31 following are red :

KORS,MLNX,CF,CRUS,AAPL,YHOO,V,
FB,LRCX,MU,QCOM,ARNA,NVDA,
MCD,QIHU,ECA,BJRI, KOG,AGU...

BLOG does NOT give buy or sell.

Saleem

Tuesday, December 11, 2012

Indices closed UP .60% to 1.18%......NICE !!!!

German data was the real catalyst today plus hope for US deal is keeping the market place humming.

S&P 500 closed @ 1427.84, high today was 1434.27

RSI @ 61.05

CMF @ 0.208

Internals were :

UP volume led by 2.36 to 1 in NYSE & 3.87 to 1 in Nasdaq

Advancing stocks led by 2.10 to 1 in NYSE & 2.42 to 1 in Nasdaq

Net new 52 wk highs were leading by 99 in NYSE & 58 in Nasdaq

VIX closed Down 2.99% @ 15.57

Oil closed @ $85.79

Gold closed @ $1709.60

Stocks which closed UP 2% or more included LULU,KORS,JCP,
APKT,RIMM,POT,CRUS,AAPL,EXPE,LVS,BIDU,DNKN,
CLF,GMCR,JDSU,ARNA,NVDA,X,STLD,CCJ,SINA,
MS,KOG......

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, as RSI in S&P 500 has reached 61.05, it is time to plan trading strategy as we head higher or go on overdrive on Fed statement or deal. The way i will do, is monitor my individual stocks RSI if they are above 60 & see IF they are vulnerable to profit taking or to be sold for other lagging value. This is strictly a trading approach nothing to do with bullish bias i have for near term.

BLOG does NOT give buy or sell.

Saleem

Indices UP .98% to 1.50%.......NICE !!!!

Indices are giving a "thumbs UP" to imminent deal on Fiscal Cliff.

S&P 500 @ 1431.54..so much for 1420 resistance????

Internals are positive by minimum 2 to 1

Oil UP 6 cents

Gold Down $5.60

Canadian $ UP 6 tick @ 101.34

VIX Down 2.68% @ 15.62

Portfolio is LEN,LULU,KORS,JCP,AUY

Most stocks are UP

@ 11.21 following are red :

LEN,AUY,HMC,M,NFLX,AEM,GG,FCX,
COH,CIEN,MCD,EGO,QIHU,ECA,
MLNX,IBN.....

BLOG does NOT give buy or sell.

Saleem

Monday, December 10, 2012

Indices closed UP .03% to .30%......NICE !!!!

Indices just about ignored Italy & closed slightly higher.

S&P 500 closed @ 1418.55

RSI @ 56.77

CMF @ 0.191

Internals were :

UP volume led by 1.15 to 1 in NYSE & 2.07 to 1 in Nasdaq

Advancing stocks led by 1.25 to 1 in NYSE & 1.37 to 1 in Nasdaq

Net new 52 wk highs were leading by 55 in NYSE & by 14 in Nasdaq

VIX closed UP .94% @ 16.05

Oil closed @ $85.56

Gold closed @ $1714.40

Stocks which were UP 1% or more included JCP,
APKT,CMG,MLNX,POT,YHOO,FFIV,SNDK,
AEM,FCX,TCK,RVBD,BIDU,CLF,LNKD,
GMCR,FB,LRCX,MU,JDSU,CIEN,FNSR,
ARNA,NVDA,MOS,MCD,SLW,CCJ,
QIHU,MGA,KOG......

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE is telling us that Fiscal Cliff is coming to a resolution soon @ your TV channel. Any leak of impending agreement will send this market into a major jump. Stay with your picks as market will reward most good stories fundamental or technical.

BLOG does NOT give buy or sell.

Saleem

Indices UP .08% to .28%......NICE !!!!!

Indices are UP despite imminent resignation of Mario Monti of Italy.

S&P 500 @ 1419.20, high was 1421.64

RSI @ 56.87

Internals are positive

Oil UP 27 cents

Gold UP $8.60

Canadian $ UP 17 tick @ 101.27

VIX UP 1.82% @ 16.19

In my portfolio :

Added 70% LEN @ $36.59

Portfolio is LEN,LULU,KORS,JCP,AUY

Exposure 74%

Most stocks are UP

@ 1.48 following are down :

KORS,LEN,AAPL,AMZN,CRUS,RIMM,HMC,
EXPE,PCLN,PANW,COH,ZNGA,BRCM,C,
SBUX,SINA,AGU.....

BLOG does NOT give buy or sell.

Saleem

Sunday, December 9, 2012

Tax strategic selling to intensify........

Wall Street has been predicting that new reality of tax structure is well defined.

Capital gains are going UP in 2013 which means that "booking gains" will intensify in next 11 trading days...this will also intensify volume.

Many traders are used to selling for loss to offset any gains, this year they will be well advised not to do it in 2012, as soon as 2013 comes, tax loss selling will take hold....

These two opposite focus will impact stock market in the next four weeks.......

Buying winners of 2012 in first week of 2013 will be prudent.

Stocks which have not done well will be spared from selling in next 11 trading days, it will be smart to sell them before 2012 is out........

Based on TAPE, next few days we should grind higher above resistance in S&P 500 of 1420 area. I expect indices to be in a "holding pattern" until politicians come to an agreement. I still expect resolution of Fiscal Cliff by the week of Dec 17th.......

CMF of +0.176 is telling me that portfolio managers are buying.

I expect last week of December to be the highest point of this rally as we close month,quarter, six months & year end.....

It will be highly prudent to be in this market going into fiscal cliff resolution & new year.

China & European markets are giving a "preview" of things to come.

2013 may be the best year for stock market.......

My suggestion is to strategically look @ many stocks & try to make money......

Many traders do not look @ TAPE closely to avoid immediate pitfalls, IF you are losing money then it is not a "productive pursuit"

Pay close attention to next four weeks as TAPE will flip flop based on new capital gains rules.

Good luck with your strategy.

BLOG does NOT give buy or sell.

Saleem 

Friday, December 7, 2012

Indices closed mixed.......

Indices celebrated "unbelievable jobs report" in US which came in 83% higher than consensus. Canadian Jobs report was only "593% higher" than consensus...i guess we do not have good economists anymore.

S&P 500 closed @ 1418.07

RSI @ 56.55

CMF + 0.176...highest level since mid September 2012

Internals were :

UP volume led by 2.40 to 1 in NYSE & .75 to 1 in Nasdaq

Advancing stocks led by 1.22 to 1 in NYSE & .89 to 1 in Nasdaq

Net new 52 wk highs were leading by 52 in NYSE & 22 in Nasdaq

VIX closed Down 4.10% @ 15.90

Oil @ $85.93

Gold @ $1705.50

Canadian $ @ 101.10

Stocks which were UP 1% or more included LEN,
APKT,RIMM,M,SNDK,AEM,GG,FCX,DNKN,
CLF,FB,ZNGA,LRCX,BRCM,C,SLW,MGA.
BAC,MS,KOG......

Portfolio weighting is :

KORS 25.32%

AUY   23.59%

JCP     21.52%

LULU 16.42%

LEN    13.15%

Exposure 68%

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem