Despite bearish conviction by many well known "experts", market has ignored all of them and is marching towards new all time highs.....what a learning lesson for "experts"
Here is where all indices are sitting and where they need to go to make it in record book :
S&P 500 @ 2116.10 needs to go to 2125.92 only 9.83 points away
Dow @ 18,191.11 needs to go to 18,288.63 only 97.53 points away
Nasdaq @ 5003.55 needs to go to 5119.83 only 116.29 points away
S&P 500 & Dow could get to new all time highs on Monday IF Greece is not causing trouble for Euro land.
Nasdaq may take about 4 good days to get to new all time highs, can you imagine Nasdaq being laggard?
Only trouble i see with this TAPE is our famous CMF, which is barely green in Dow & S&P 500 but actually red by -0.028 in Nasdaq...this is troubling...no highs are made in these conditions.....we shall see IF it turns UP or this indicator has lost its meaning due to High Frequency Trading by Supercomputers.......
I like to suggest that you make a list of stocks to buy and stick to plan, IF you are fully invested then stay with those stocks IF they are working, strong stocks needs to be in focus NOT laggards.
We are in a very different market than what we had since June 2009, this is a market of stock picking and sticking with them, patience and conviction is key here or you will be shaken out of your strategic approach.
SO...revisit your portfolio and see IF you have stocks which you can stay for 2 years, if NOT change your stocks to reflect new realities.
Good luck with your "new & improved stock picking"
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hi Saleem,
After reviewing CSOD's latest conference call this weekend, I have changed my thesis on the stock. The chances of a takeover are probably pretty low unless the offer is huge. The company is imminently rolling out its new platform which they hope will bring the company to the next level and give them the valuation they deserve (note the CEO appears to have stopped his automatic sell stock program). In this light, the stock is very undervalued should this endeavor succeed, and at the very least should boost sales in the shorter term. That still gives me confidence in the position, but for different reasons and I just wanted to update you.
Stocktrader
Hi Stocktrader,
Thanks for your update on CSOD, deep analysis and homework is the key in spotting opportunities.
Saleem
Hi Saleem,
Sold FB @ 78.344.
The stock is lacking fresh catalysts and is looking heavy on the chart. As interest rates have started their rise again after a brief respite, I worry about the high growth stocks.
Stocktrader
Hi Saleem,
Bought TZA @ 10.219.
I love certain stocks, but the small caps still look vulnerable. It looked like a good time to put on a hedge during the slow summer...
Stocktrader
Hi Stocktrader,
FB is stalled for now......
TZA should be good for quick trade.
Saleem
Hi Saleem,
Bought IACI @ 73.621.
It looks like the stock is undervalued based on the sum of the assets contained within the company. The stock is not overly stretched here despite the runup recently, and feels like it might be a good "summer idea" for portfolio managers.
Stocktrader
Hi Stocktrader,
Good luck with IACI.
Saleem
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