Sunday, March 31, 2013

What is in store from April to June ?

Q 1 has ended with major gains & major benchmarks being shattered.

Now we are entering Q 2 which has the famous month of May with a scary "sell in May & go Away" mantra ?

SO..what is in store for Q 2......

Chinese economy is in a holding pattern around 7.5%

Indian economy is growing @ 5% slow clip


South America is sluggish


Europe is trying to come out of recession


US & Canada may hit 3% growth rate


What kind of TAPE action is expected in an improving scenario.

I have a feeling that Q 2 may have initial burst of enthusiasm in April with new all time high in S&P 500......

BUT MAY may bring WEAK TAPE to scare many......

I expect June to be weak also......

Why do i expect May & June to be weak?

Because Summer orders are weaker for technology as a seasonal pattern.....

Summer is also shutdown time in Europe


Summer focus in North America is on vacation & taking it easy.


I expect July to start a new rally........

I do not expect a major correction but a 5% pullback is OVERDUE..which is like 80 S&P 500 points......that may bring the indices down to near 1500+-

Many participants need to plan for something like this as a "strategy" or else they may be extremely vulnerable to haircut in equity...

Knowing seasonal trend can be good for your financial health......

BLOG does NOT give buy or sell.

Saleem

Thursday, March 28, 2013

Indices closed UP .34% to .41%....NICE !!!!

Indices closed UP despite some weak data.

S&P 500 @ 1569.19

RSI @ 64.08

CMF @ 0.425

Internals were :

UP volume led by 1.82 to 1 in NYSE & 1.75 to 1 in Nasdaq

Advancing stocks led by 1.72 to 1 in NYSE & 1.29 to 1 in Nasdaq

Net new 52 wk highs were leading by 362 in NYSE & 186 in Nasdaq

VIX Down 3.42% @ 12.70

Oil @ $97.23

Gold $1595.70

Stocks which were UP 1% or more included JCP,RDN,
EBAY,TIF,MOS,CMG,CLF,LRCX,GMCR,NVDA,
AEM,IBN.....

About market, S&P 500 closed @ the highest level ever. Next target is 1576.09 which is intraday highest number. TAPE is strong enough to make series of new all time highs. It is important to stay with few good ideas & give it time to work out.

Next post on Sunday by 2 PM

Enjoy your long weekend with family & friends.

BLOG does NOT give buy or sell.

Saleem

Indices UP .14% to .23%.....NICE !!!!

Indices are UP despite lower than expected economic data in US.

S&P 500 @ 1566.12, high today so far is 1568.30 which is higher than closing all time high.

Internals are positive

Oil UP 20 cents

Gold Down $11.80

Canadian $ Down 6 tick @ 98.35

VIX Down 1.14% @ 13.00

Portfolio BAC,BBRY,RDN,JCP

Most stocks are UP

@ 1.29 following are red :

BAC,JDSU,QIHU,AAPL,CF,GOOG,EXPE,
PCLN,HMC,LEN,LULU,LNKD,FB,C,
FNSR,SNDK,FSLR,CRUS,M,X,
STLD,EGO,SLW,AEM,GG,MS,
SINA,KOG,AGU,FCX,POT....

BLOG does NOT give buy or sell.

Saleem

BBRY post profit of 22 cents per share vs expectations of 34 cents loss

 BBRY reports the following for Q4 :

Sales $2.7 billion vs expectations of $2.8

EPS profit 22 cents per share vs expectations of loss of 34 cents per share

Guidance Q1 of breakeven vs expectations of ongoing losses , will increase marketing expense by 50% sequentially...

Gross Margin 40%.....mother of all stock AAPL struggling with GM in 30's

76 million subscriber worldwide vs 79 million last Q

Cash on hand $2.9 billion

Z10 Sales 1 million vs expectations of 300K to 800K 

Overall 6 million smartphone sold

BLOG does NOT give buy or sell.

Saleem

Wednesday, March 27, 2013

Mixed close ........

Indices fought its way back to near best level by close.

S&P 500 @ 1562.85

RSI @ 61.69

CMF @ 0.332

Internals were :

UP volume led by .95 to 1 in NYSE & 1.51 to 1 in Nasdaq

Advancing stocks led by 1.13 to 1 in NYSE & .94 to 1 in Nasdaq

Net new 52 wk highs were leading by 184 in NYSE & 82 in Nasdaq

VIX UP 2.98% @ 13.15

Oil @ $96.58

Gold @ $1607.20

AH ER :

RHT Down 3.74%

PVH Down 4.47%

AH Futures Down

AH Asian Markets Down

AH Gold Down

AH Oil UP

About market, TAPE was pretty impressive by close. Europe seems to be back in focus for all the wrong reasons, tomorrow its all about how Cypriots handle their banking transaction. I am hopeful that by close we should follow our usual pattern of recovery. Sectors are rotating so it is important to look for "new leaders".

BLOG does NOT give buy or sell.

Saleem

Indices mixed.....

Indices are fighting back from Italian concern

S&P 500 @ 1562.57

Internals are negative

Oil UP 35 cents

Gold UP $10.70

Canadian $ Down 3 tick @ 98.39

VIX UP 2.19% @ 13.05

Portfolio BAC JCP RDN BBRY

BBRY  reports before open Thursday, Sales expected $2.8 billion EPS loss 32 cents.It is all about optimism for current Q. I expect EPS  to be better than consensus...thus a positive TAPE after earning.There is 155 million shares short...that is highest ever....

Most stocks are down....

@ 2.46 following are green:

BBRY RDN YHOO PANW COH KORS 
AMZN,DNKN,POT CMG HMC BIDU
FFIV GG MA V LNKD FB RVBD
BRCM MON NVDA MCD 
STLD EGO SLW AEM 
SINA SPWR ECA MGA
MLNX GS IBN FCX

BLOG does NOT give buy or sell.

Saleem


Tuesday, March 26, 2013

Indices closed UP .53% to .78%.....NICE !!!!

Indices closed UP as Cyprus went into history of financial events.

S&P 500 @ 1563.77

RSI @ 62.25

CMF @ 0.330

Internals were :

UP volume led by 2.65 to 1 in NYSE & 1.81 to 1 in Nasdaq

Advancing stocks led by 2.25 to 1 in NYSE & 1.38 to 1 in Nasdaq

Net new 52 wk highs were leading by 236 in NYSE & 120 in Nasdaq

VIX Down 7.06% @ 12.77

Oil @ $96.34

Gold @ $1595.70

Stocks which were UP 1% or more included BBRY,
EBAY,AMZN,LVS,WYNN,MA,V,QCOM,MS,
MON,X,STLD,MGA,KOG,IBN.....

AH Futures UP

AH Asian Markets UP

AH Gold UP

AH Oil Down

About market, TAPE got back to going UP after many panicked & sold on Cyprus crisis. It is important not to be swayed by CNBC frenzy & lose sleep over nothing. It pays to have your own analysis of each event.S&P 500 is all set to go into uncharted territory & hopefully we will see higher highs.

BLOG does NOT give buy or sell.

Saleem

Indices UP .36% to .64%....NICE !!!!!

Indices are back on track with gains in all indices.

S&P 500 @ 1561.03

Internals are mostly positive

Oil UP $1.02

Gold Down $9.20

Canadian $ UP 43 tick @ 98.31

VIX down 6.04% @ 12.91

In my portfolio :

Added 25% BBRY @ $14.56..it reports earnings before open this Thursday

Portfolio is BAC,BBRY,JCP,RDN

Exposure 82%

Most stocks are UP

@ 1.45 following are red :

BAC,JCP,RDN,JDSU,PANW,COH,
KORS,M,AAPL,CF,POT,MOS,
PCLN,LEN,CLF,FFIV,GG,
LNKD,GMCR,CIEN,FNSR,
FSLR,EGO,SLW,AEM,
SINA,SPWR,MLNX,
AGU.....

BLOG does NOT give buy or sell.

Saleem

Monday, March 25, 2013

Indices closed down .30% to .44%.....

Indices closed lower in aftermath of Cyprus resolution.

S&P 500 @ 1551.69

RSI @ 57.58

CMF @ 0.325

Internals were :

Down volume led by 2.13 to 1 in NYSE & 1.57 to 1 in Nasdaq

Declining stocks led by 1.47 to 1 in NYSE & 1.07 to 1 in Nasdaq

Net new 52 wk highs were leading by 270 in NYSE & 150 in Nasdaq

VIX UP 1.25% @ 13.74

Oil @ $94.81

Gold @ $1604.50

AH Futures Mixed

AH Asian Markets Down

AH Oil & Gold Down

About market, Cyprus came & went but as usual media was in overdrive to invent issues with that deal. I do not know about you, but i do not live in a "perfect world". Anyone can pick hole into anything but we have to look @ overall picture. Overall picture is, that we are much better off than before Cyprus was resolved. There is no vote of any sort involved. TAPE was pretty healthy considering every thing it had to deal with all day. We did not close near low. Internals are pretty healthy & VIX did not get any lift. So don't worry be happy.

BLOG does NOT give buy or sell.

Saleem

Indices down .03% to .24%.......

Indices were UP then Down & now trying to fight its way back towards green.....

S&P 500 @ 1555.14, low was 1546.22 high today 1563.62 awfully close to that elusive 1565.15....

Internals are negative

Oil UP 88 cents

Gold Down $4.30

Canadian $ UP 22 tick @ 97.89

VIX UP 1.11% @ 13.72

In my portfolio :

Sold YHOO

Bought RDN @ $10.28

Portfolio is BAC,JCP,RDN,BBRY

Exposure 72%

Most stocks are down :

@ 2.04 following are UP :

RDN,YHOO,JDSU,KORS,LULU,QIHU,
AAPL,CMG,GOOG,PCLN,CLF,YUM,
FFIV,MA,V,RVBD,LRCX,SNDK,
CIEN,FNSR,STLD,ECA,MGA,
MLNX,WYNN,LVS....

BLOG does NOT give buy or sell.

Saleem

Sunday, March 24, 2013

Focus on stocks not Cyprus or indices......

Entire media has gone on overdrive from one crisis to another crisis....

Media has also gone overdrive on some key benchmark like S&P 500 1566.....

Traders seems to be fixated on headlines & reacting to them on a consistent basis.....

But many stocks have ignored most crisis & kept on making new highs.....

Quite often we get a chance to buy strong stocks cheaper, but traders worry about imminent collapse of S&P 500 or many stocks......

BUT...reality is that strong stocks are in a major bull market of their own & keep making new highs....Many of you know about those stocks like GOOG,LNKD,YHOO,BAC..but keep ignoring them for home runs which lags badly in best of TAPE......

Stock market is full of trend & once trend is established it is important to have some or all of them in portfolio.

They say sometimes "little knowledge is dangerous" but experience traders believe that "they have all the knowledge required to understand stock market"

BUT ..in hindsight stock market is based on simple things like buying strong stocks instead of bargains, staying with trend until it changes.......

This TAPE has reinforced that strong stocks is the only way to make serious money.......

What i have done is divided my 88% allocation in this manner :

YHOO 37.98%
BAC    27.66%
Strong performer has 65.64% allocation

BBRY 22.65%
JCP     11.71%
Weak / speculative has 34.36% allocation

I intend to keep this mix until they either stop working or find stocks which has better risk / reward....

SO......bottom line is.... ignore headlines & concentrate on better entry into strong stocks, this strong bull market will last a long time & S&P 500 is headed much much higher....

Do not worry about technicals too much, this IS a fundamentally driven TAPE.

In a trading market you worry about technicals......

It is time to "change with TAPE"

BLOG does NOT give buy or sell.

Saleem




Friday, March 22, 2013

Indices closed UP .63% to .72%....NICE !!!!

Indices moved away from Cyprus worries & went about doing their business of going UP.

S&P 500 @ 1556.89

RSI @ 60.57

CMF @ 0.284

Internals were :

UP volume led by 1.97 to 1 in NYSE & 1.44 to 1 in Nasdaq

Advancing stocks led by 1.71 to 1 in NYSE & 1.55 to 1 in Nasdaq

Net new 52 wk highs were leading by 203 in NYSE & 92 in Nasdaq

VIX closed Down 3.00% @ 13.57

Oil @ $93.71

Gold @ $1606.10

Canadian $ @ 97.75

Portfolio BAC,BBRY,JCP,YHOO

Stocks which were UP 1% or more included YHOO,
RDN,TIF,KORS,M,QIHU,AMZN,AAPL,MU,
EXPE,PCLN,LNKD,V,SNDK,CRUS,EGO,
CCJ,SINA.....

Next post by 2 PM Sunday

BLOG does NOT give buy or sell.

Saleem

Thursday, March 21, 2013

Indices closed down .62% to .97%........

Indices closed down on German economic data & Cyprus.

S&P 500 @ 1545.80

RSI @ 56.04

CMF @ 0.345

Internals were :

Down volume led by 3.39 to 1 in NYSE & 2.37 to 1 in Nasdaq

Declining stocks led by 1.84 to 1 in NYSE & 2.15 to 1 in Nasdaq

Net new 52 wk highs were leading by 171 in NYSE & 78 in Nasdaq

VIX UP 10.42% @ 13.99

Oil @ $92.45

Gold @ $1613.80

AH ER :

MU UP 3.42%

NKE UP 8.47%

AH Futures Mixed

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was under pressure from Germany & Cyprus. Cyprus is dragging longer than what market was ready, uncertainty is never good. Once there is enough clarity about Cyprus resolution & resumption of EU injection of funds, bull will take charge again. In the meantime adjust your portfolio to stronger stocks than weakening fundamental.

BLOG does NOT give buy or sell.

Saleem

Indices turned lower by .77% to 1.09%....

Indices are lower due to weak German PMI & Cyprus deadline of Monday.

S&P 500 @ 1545.19

Internals are negative by 2 to 1

Oil Down $1.11

Gold UP $6.50

Canadian$ UP 14 tick @ 97.55..There is budget to be presented @ 4 PM today

VIX UP 11.05% @ 14.07

Portfolio BAC,BBRY,JCP,YHOO

Most stocks are down

@ 2.07 following are green :

YHOO,BBRY,EBAY,COH,LULU,AAPL,
CLF,SU,GG,ZNGA,X,EGO,SLW,AEM,
AGU,IBN......

BLOG does NOT give buy or sell.

Saleem

Wednesday, March 20, 2013

Indices closed UP .39% to .78%....NICE !!!!!

Indices were UP after Fed statement confirms the expected hand holding for the economy.

S&P 500 @ 1558.71

RSI @ 63.99

CMF @ 0.307

Internals were :

UP volume led by 3.30 to 1 in NYSE & 3.88 to 1 in Nasdaq

Advancing stocks led by 2.98 to 1 in NYSE & 2.48 to 1 in Nasdaq

Net new 52 wk highs were leading by 304 in NYSE & 148 in Nasdaq

VIX Down 11.95% @ 12.67

Oil@ $92.96

Gold @ $1607.50

Stocks which were UP 1% or more included BBRY,
EBAY,COH,RDN,TIF,M,QIHU,CMG,EXPE,
HMC,LEN,CLF,LVS,WYNN,BIDU,FFIV,
MA,V,JASO,SPWR,FSLR,BRCM,CIEN,
SNDK,QCOM,NVDA,SBUX,STLD,
SINA,MGA,MS,MLNX......

AH ER ORCL Down 7.20%

AH Futures UP

AH Asian Markets UP

AH Oil & Gold Down

About market, TAPE got a lift from Ben Bernanke who articulated a clear path of Fed decision making process. Chinese Flash PMI came in @ 51.7% in March compared to 50.4% in Feb. Chinese data should give lift to markets worldwide. I am expecting S&P 500 to make new all time high on a  closing basis on Thursday.

BLOG does NOT give buy or sell.

Saleem

Indices UP .41% to .67%......NICE !!!!!

Indices were UP from open on Fed easy money policy with no change outlined in their statement today.

S&P 500 @ 1558.34

Internals are positive almost 3 to 1

Oil UP 54 cents

Gold Down $5.60

Canadian $ UP 17 tick @ 97.51

VIX Down 11.95% @ 12.67

Portfolio BAC,BBRY,JCP,YHOO

Most stocks are UP

@ 2.13 following are red :

YHOO,LULU,AAPL,CF,GMCR,FB,ZNGA,
X,SLW,ECA,AGU,IBN....

BLOG does NOT give buy or sell.

Saleem

Tuesday, March 19, 2013

Indices closed mixed......

Indices were under selling pressure again, only Dow managed a green close barely.

S&P 500 @ 1548.34, low today 1538.57

RSI @ 59.73

CMF @ 0.225

Internals were :

Down volume led by 1.66 to 1 in NYSE & 1.82 to 1 in Nasdaq

Declining stocks led by 1.36 to 1 in NYSE & 1.37 to 1 in Nasdaq

Net new 52 wk highs were leading by 157 in NYSE & 85 in Nasdaq

VIX UP 7.71% @ 14.39

Oil @ $92.16

Gold @ $1611.30

AH ER ADBE UP 6.26%

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, technically we had mixed picture, first we undercut yesterdays low but closed higher than lows of the day. Considering all the fear of deposit being taxed, TAPE was pretty constructive by close. Wednesday it is all about Fed, i am sure its statement will push its easing policies which should give support to equities.

BLOG does NOT give buy or sell.

Saleem

Indices down .38% to .90%......

Indices are down again on Cyprus issue.

S&P 500 @ 1540.35

Internals are negative by 2 to 1

Oil Down $1.44

Gold UP $6.60

Canadian $ Down 63 tick @ 97.18

VIX UP 14.67% @ 15.32

Portfolio BAC,BBRY,JCP,YHOO

Most stocks are down

@ 1.50 following are green :

BAC,EBAY,HMC,GG,GMCR,FSLR,AEM,
SPWR,MGA......

BLOG does NOT give buy or sell.

Saleem

Monday, March 18, 2013

Indices closed down .35% to .55%......

Indices closed down well above lows.

S&P 500 @ 1552.10

RSI @ 62.21

CMF @ 0.275

Internals were :

Down volume led by 2.72 to 1 in NYSE & 2.49 to 1 in Nasdaq

Declining stocks led by 1.59 to 1 in NYSE & 1.96 to 1 in Nasdaq

Net new 52 wk highs were leading by 139 in NYSE & 78 in Nasdaq

VIX jumped 18.23% @ 13.36

Oil @ $93.74

Gold @ $1604.60

AH news :

EA UP 2.51%

LULU Down 5.92%

AH Futures Mixed

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, Once again TAPE proved resilient & S&P 500 found support around 1545 area, This area needs to be monitored for confirmation of support. TAPE also told us that correction is going to be swift & may be over in a day.This correction or pullback lasted only 18.49 points or 1.18%. This may be hard to believe after recent non-stop run, but this strong bull market is giving a clear message that it wants to go higher. Also gurus were kind of subdued today & highly fixated on Cyprus.

BLOG does NOT give buy or sell.

Saleem

Indices down .16% to .35%.......

Indices are showing a V turn from its low.

S&P 500 @ 1555.16, low today was 1545.13

Internals are negative

Oil UP 4 cents

Gold UP $13.10

Canadian $ down 25 ticks @ 97.86

VIX UP 13.10% @ 12.78

Portfolio BAC,BBRY,JCP,YHOO

Most stocks are down

@ 1.49 following are UP :

JCP,BBRY,PANW,RDN,AAPL,JORS,
BIDU,LVS,GG,RVBD,GMCR,BRCM,
CIEN,FSLR,EGO,AEM,WYNN.....

BLOG does NOT give buy or sell.

Saleem

Sunday, March 17, 2013

TAPE needs to mark time to build strength.....?

TAPE has been in overdrive since 1485.01 in S&P 500. This run to 1563.63 was 78.61 points or 5.3% took place in last 14 trading days, that is unheard of & it requires rest or building of base again.

Latest bull bear read is also extreme, 50% bull a sharp jump from last week & bears @ new low of 18.80..sign of imminent pullback....

VIX also @ near closing low of 11.30 also spells trouble...

Many gurus are extremely bullish which also spells trouble....

TAPE definitely requires building base which may need some consolidation from current level.

A minor pullback seems to be imminent which will be healthy.

Many technicians are pegging S&P 500 target anywhere from 1647 to 1700 level for 2013, these are not unrealistic numbers but may require several pullbacks between now & eventual target of 2013.

Upcoming base building does not warrant an exit from market but a realization that we are in a digestive phase & sector rotation may come into play.

Laggard sectors are Gold, Base metals & Technology.

It is important to keep an eye on the laggards & incorporate strong ones in your portfolio.

It will be interesting to see how Fed meeting may impact TAPE. I am of the view that Fed meeting statement may not do much this time as we are overbought.

In conclusion, this week may be the week to focus on future leaders which may emerge.

Sit tight with your high conviction stocks & prune which have not worked or showing weakness.

Good luck with your own view of TAPE & your comfort level.

BLOG does NOT give buy or sell.

Saleem

Friday, March 15, 2013

Indices closed down .16% to .30%.....

Indices underwent mild selling from open, all indices closed down slightly.

S&P 500 @ 1560.70

RSI @ 68.21

CMF @ 0.283

Internals were :

Down volume led by 1.19 to 1 in NYSE & 1.99 to 1 in Nasdaq

Declining stocks led by 1.18 to 1 in NYSE & 1.17 to 1 in Nasdaq

Net new 52 wk highs were leading by 289 in NYSE & 193 in Nasdaq

VIX closed unchanged @ 11.30...an extremely rare close

Oil @ $93.45

Gold @ $1592.60

Canadian $ @ 98.11

Portfolio BAC,JCP,BBRY,YHOO

Stocks which closed green included BAC,JCP,
COH,TIF,QIHU,AAPL,CF,MOS,PCLN,
HMC,SU,YUM,LVS,JASO,GMCR,X,
STLD,CCJ,ECA,MS,GS,CLF,FCX....

Next post by 2 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Thursday, March 14, 2013

Indices closed UP .43% to .58%.....NICE !!!!

Indices ended green & in record territory again.....

S&P 500 @1563.23

RSI @ 70.06

CMF @ 0.302

Internals were :

UP volume led by 2.84 to 1 in NYSE & 2.22 to 1 in Nasdaq

Advancing stocks led by 2.00 to 1 in NYSE & 2.12 to 1 in Nasdaq

Net new 52 wk highs were leading by 360 in NYSE & 218 in Nasdaq

VIX Down 4.48% @ 11.30, it hit new six year low today @ 11.05...

Oil @ $93.03

Gold @ $1590.70

Stocks which were UP 1% or more included RDN,
EBAY,JDSU,CIEN,FNSR,MU,SNDK,FSLR,
C,KOG,GS,AEM,ECA,ZNGA,SU,LEN,
LULU...

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, another positive TAPE. Now S&P 500 needs to conquer its all time high which is two points away on a closing basis.There is too much chatter about how good this TAPE is & going straight to 1600 in S&P 500, i am getting extremely uncomfortable with this euphoric talk & going straight UP comments. Complacency is never good & TAPE needs to be closely monitored. We are setting up for a pullback with pundits getting over confident.

BLOG does NOT give buy or sell.

Saleem

Indices UP .27% to .41%....NICE !!!!!

Indices are up again on improving jobs picture.

S&P @ 1560.33

Internals are positive

Oil UP 38 cents

Gold UP $1.50

Canadian $ UP 53 tick @ 97.79

VIX Down 2.45% @ 11.54

Portfolio BAC,JCP,BBRY,YHOO

Most stocks are UP

@ 2.36 following are down :

JCP,BBRY,KORS,DNKN,QIHU,AMZN,
CF,POT,GOOG,PCLN,HMC,CLF,AGU,
BIDU,FFIV,RVBD,GMCR,QCOM,
SBUX,MCD,X,STLD,MLNX....

BLOG does NOT give buy or sell.

Saleem

Wednesday, March 13, 2013

Indices closed UP .04% to .13%...NICE !!!!

Indices were UP again @ close.

S&P 500 @ 1554.52

RSI @ 67.22

CMF @ 0.258

Internals were :

UP volume led by 1.17 to 1 in NYSE & 1.25 to 1 in Nasdaq

Advancing stocks led by 1.33 to 1 in NYSE & 1.30 to 1 in Nasdaq

Net new 52 wk highs were leading by 225 in NYSE & 115 in Nasdaq

VIX Down 3.59% @ 11.83

Oil @ $92.52

Gold @ 41588.40

Stocks which were UP 1% or more included BBRY,
COH,RDN,KORS,CMG,EXPE,HMC,LNKD,MU,
CRUS,SNDK,BJRI.....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE is moving in the right direction for a long time. If we correct a bit, it is necessary & reflects healthy market. In any dip one should take advantage of strong stocks selling for less. Any dip is not an indication of "bull market is over" as many stocks will keep moving higher even on down days. We all hope that we have stronger stock in our portfolio. Market prediction is not our primary focus, we should be looking for opportunity to make money.

BLOG does NOT give buy or sell.

Saleem

Indices UP .12% to .23%....NICE !!!!

TAPE showed its bullish pattern by reversing from early loss.

S&P 500 @ 1555.87

Internals are positive

Oil UP 2 cents

Gold Down $3.40

Canadian $ Down 16 tick @ 97.28

VIX Down 1.71% @ 12.06

Portfolio BAC,JCP,BBRY,YHOO

Most stocks are UP

@ 2.00 following are down :

BBRY,YHOO,JDSU,QIHU,CF,POT,GOOG,
PCLN,CLF,SU,FFIV,GG,RVBD,FB,ZNGA,
LRCX,CIEN,FNSR,QCOM,FSLR,C,X,
STLD,EGO,SLW,AEM,CCJ,SPWR,
ECA,MLNX,AGU,IBN.....

BLOG does NOT give buy or sell.

Saleem

Tuesday, March 12, 2013

Indices closed mixed......

Indices rested today, only Dow was slightly UP.

S&P 500 @1552.48

RSI @ 66.53

CMF @ 0.242

Internals were :

Down volume led by 1.37 to 1 in NYSE & 1.58 to 1 in Nasdaq

Declining stocks led by 1.42 to 1 in NYSE & 1.45 to 1 in Nasdaq

Net new 52 wk highs were leading by 201 in NYSE & 130 in Nasdaq

VIX UP 6.14% @ 12.27

Oil @ $92.54

Gold @ $1591.70

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, CNBC is spending tremendous air time in telling viewer that correction is here. I totally disagree with this obsession of correction in a strong long term bull market which we have. This bull market is going UP in a slow & steady pace. Sometimes you will get a weak open as a correction, but by end of the day most stocks reverses. Just because Dow has been UP for 8 days which is only 30 stocks out of 30,000 stocks, does not mean that most stocks went UP for 8 straight days, i do not know any stock that went UP for 8 straight days. All i can tell you that this is NOT 1999-2000 market @ all, it is NOT running away @ all. SO keep buying after studying chart & on any morning pullback.Think long term when buying because it is that kind of market.

BLOG does NOT give buy or sell.

Saleem

Indices down .18% to .58%......

Indices are down on no news.

S&P 500 @ 1548.51

Internals are negative

Oil UP 80 cents

Gold UP $13.50

Canadian $ Down 3 tick @ 97.44

VIX UP 9.08% @ 12.61

Portfolio is BAC,JCP,BBRY,YHOO

Most stocks are down

@ 2.07 following are green :

JCP,KORS,M,AMZN,POT,MOS,YUM,
GG,BRCM,SNDK,PANW,FSLR,EGO,
SLW,AEM,SPWR,MLNX,FCX....

BLOG does NOT give buy or sell.

Saleem

Monday, March 11, 2013

Indices closed UP .26% to .35%...NICE !!!!

All indices were into another record close.

S&P 500 @ 1556.22

RSI @ 69.00

CMF @ 0.228

Internals were :

UP volume led by 1.56 to 1 in NYSE & 1.87 to 1 in Nasdaq

Advancing stocks led by 1.15 to 1 in NYSE & 1.00 to 1 in Nasdaq

Net new 52 wk highs were leading by 294 in NYSE & 180 in Nasdaq

VIX closed Down 8.18% @ 11.56..this is the lowest level since 2007

Oil @ $92.06

Gold @ $1578.00

Stocks which were UP 1% or more included BBRY,
COH,MTG,RDN,AAPL,POT,MOS,HMC,GMCR,
ZNGA,MU,C,SNDK,FSLR,SPWR,CCJ,MLNX,
AGU......

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, This TAPE has caught majority of traders by surprise. Full participation is missing by majority. VIX close is confirming that this is not your "traders market". You need to believe in this TAPE & this move is worldwide. World economic picture is turning for better. Stocks are making higher highs & may go still higher. Conviction has to be there or else you leave too much on the table. The question is "are you smarter than this bull market".......

BLOG does NOT give buy or sell.

Saleem

Indices UP .04% to .25% ...NICE !!!!

Indices are UP in new record territory again.

S&P 500 @ 1554.51

Internals are positive

Oil Down 51 cents

Gold UP $1.10

Canadian $ UP 27 tick @ 97.41

VIX Down 6.91% to new 52 wk low of 11.72

Portfolio is BAC,BBRY, JCP,YHOO

Most stocks are UP

@ 1.47 following are red :

JCP,YHOO,TIF,KORS,LULU,DNKN,QIHU,
AMZN,AAPL,EXPE,CLF,GG,CRUS,LRCX,
JDSU,QCOM,NVDA,X,EGO,SLW,AEM...

BLOG does NOT give buy or sell.

Saleem



Sunday, March 10, 2013

Triple witching week to propel S&P 500 into all-time high ?

SO here we are when most market stat looks very impressive.....

Dow keep making new all time highs

Nasdaq keep making multi year highs

Russell 2000 keep making new all time highs

The only laggard so far is S&P 500 which has yet to make all time high

S&P 500 is sitting @ 1551.18....highest peak to conquer is 1576....which is 25 points away....

VIX @ 12.59 which is near 52 wk low of 12.08

RSI in S&P 500 based on 10 year read is @ 71.88 which many pundits are using to highlight overbought read......BUT IF you go back all the way to Jan 3rd 1950 historical read on RSI, it is sitting @ 59.74...in the past yesteryear we did go to 87 area on a historical basis......

My conclusion based on 63 year history of RSI..we are far from overbought condition....lots of room to run.

S&P 500 should be able to go to new all time highs this week.....

Triple witching will come & go without much impact.....

If you look @ historical chart from 1950 in any index.....it does not look overbought, on the contrary it is giving a clear signal that there is lot of room to run on the upside.......we have just broken out on most indices except Nasdaq which has its own unique history of bubble...there also we see lot of room to run if we look @ 63 year history......

It is good to see market picture from a longest term chart perspective......

All in all, we are all set to create many all time highs as we go along, YES there will be pullback of 3% to 6% along the way every so often, but TREND IS DEFINITELY UP......

Making money is always difficult as we are driven by our own convictions in set of stocks which may or may not keep pace with market. It is important to go with market leaders along with your own picks.

Good luck with your OWN strategy.

BLOG does NOT give buy or sell.

Saleem

Friday, March 8, 2013

Indices closed UP .38% to .47%.....NICE !!!!

All indices are in record territory again, Dow all time high & S&P 500 & Nasdaq making multi year highs. US jobs report came in ahead @ 236,000. Canadian jobs report came in @ 50,700 consensus was 8,000 only.

S&P 500 @ 1551.18

RSI @ 67.49

CMF @ 0.258

Internals were :

UP volume led by 2.17 to 1 in NYSE & 1.92 to 1 in Nasdaq

Advancing stocks led by 2.07 to 1 in NYSE & 2.16 to 1 in Nasdaq

Net new 52 wk highs were leading by 335 in NYSE & 232 in Nasdaq

VIX down 3.6% @ 12.59

Oil @ $91.95

Gold @ $1576.90

Canadian $ @ 97.17

In my portfolio :

Bought JCP @ $14.77

Portfolio is BAC,JCP,BBRY,YHOO

Exposure 88%

Stocks which were UP 1% or more included JCP,
RDN,M,LULU,CF,POT,MOS,HMC,CRUS,
GMCR,MU,JDSU,C,MCD,X,STLD,SINA,
SPWR,ECA,BJRI,MLNX,AGU,IBN.....

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem


Thursday, March 7, 2013

Indices closed UP .18% to .30%....NICE !!!!

Indices closed UP again & made a new closing all time high in Dow & multi year closing high in S&P 500 / Nasdaq.

S&P 500 @ 1544.26

RSI @ 65.34

CMF @ 0.249

Internals were :

UP volume led by 1.72 to 1 in NYSE & 1.93 to 1 in Nasdaq

Advancing stocks led by 1.38 to 1 in NYSE & 1.58 to 1 in Nasdaq

Net new 52 wk highs were leading by 223 in NYSE & 163 in Nasdaq

VIX Down 3.47% @ 13.06

Oil @ $91.56

Gold @ $1575.10

Stocks which were UP 1% or more included BAC,
JCP,TIF,AAPL,MOS,FFIV,RVBD,CRUS,GMCR,
FB,MU,JDSU,CIEN,FNSR,SBUX,ECA,BJRI,
MLNX,KOG,GS....

AH ER :

WPRT UP 1.52%

P UP 20.72%

AH Futures Mixed

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, It is all about jobs report, consensus is anywhere from 160K to 163K. Actual number may be stronger than consensus. This may spark a rally, many are positioned to sell the rally but they may not succeed. This TAPE has too much strength & any pullback will be met with renewed buying.

BLOG does NOT give buy or sell.

Saleem