Monday, February 29, 2016

Indices closed down .71% to .81%......

Indices closed down.

S&P 500 @ 1932.23, low 1931.81, high 1958.27

RSI @ 52.60

CMF @ 0.121

Internals were :

Down volume led by 1.22 to 1 in NYSE & 1.58 to 1 in Nasdaq

Declining stocks led by .91 to 1 in NYSE & 1.20 to 1 in Nasdaq

Net new 52 wk highs were leading by 19 in NYSE & lows by 10 in Nasdaq

VIX UP 3.74% @ 20.55

Oil @ $33.75

Gold @ $1234.40

Stocks which were UP 1% or more included ABX CNQ JKS 
SPLK SWIR SPWR LULU TWTR CSIQ YHOO YUM
BABA YELP FSLR AMCC FEYE AMBA QRVO
SLW GG AEM CCJ DATA MGA ZG.....

In my portfolio :

Added 40% JKS in AH @ $24.67..it reports before open......

AH ER / News...IBN Down 7.09%, ECA Down 8.43%

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was greeted with good news on Oil & Chinese stimulus but offset by very weak US economic data. By close we were @ low of the day. S&P 500 stayed above 50 DMA while Down & Nasdaq are below. TAPE looks stable relatively speaking and the bias looks UP. Keep your focus on stocks which are behaving well technically and should be on buy list.

BLOG does NOT give buy or sell.

Saleem

Indices down .11% to .21%.....

Indices are lower despite oil being up and Chinese central bank cutting reserve requirement for banks by .5% to stimulate economy.

S&P 500 @ 1944.23, low 1942.88, high 1958.27

Internals are positive

Oil UP $1.06

Gold UP $15.90

Canadian $ UP 1 tick @ .6499 US$

VIX UP 2.17% @ 20.24

Portfolio ABX BIDU CNQ CTSH FB JKS KSFT SBUX V 

Most stocks are UP

@ 2.42 following are red :

FB MSFT PANW RLYP GOOG NTES LNKD NXPI 
NFLX SINA EXPE VDSI CIEN ...webbroker down 



JKS reports before open on Tuesday, here are the expectations :

Q4 Sales $712.77 million, EPS $1.28

Q1 expectations Sales $542.81, EPS 95 cents

Expecting a very good report .....

BLOG does NOT give buy or sell.

Saleem

Sunday, February 28, 2016

Worst time to buy right now ?

CNBC has given us many sage like Carter Worth, Steve Grasso, they both have been making wild bearish comments, Carter Worth famous target of 1575 from 6 months ago and Grasso saying "worst time to buy right now"

It is interesting that most CNBC so called "pro" have been bearish for months, some have technical knowledge to draw a southbound line but Grasso cannot even draw a line......

Before the number to collapse from was 1940......

Then became 50 DMA...

Now it is 1950.....

As we are above 1940 & 50 DMA and went to 1962.96 as high of the day on Friday, cannot wait for next collapse number..

CNBC pundits needs an education of how to listen to the market....instead of talking to themselves?.we have come UP from 1810 to 1962 which 152 points or 8.40% gain, all in 10 trading days...IF that is not a strong TAPE, then what is a strong TAPE.I do not know why anyone will not only miss 8.40% gains in 10 days but lose minimum double of that IF they were short?

Back to market, it is so strong that it is making a "reverse head & shoulder in every major index"

This a rare occurrence which happens @ major market bottom.....

How far we can go with usual ups and down......the magic number is pointing towards a new all time high and series of new highs......

This TAPE requires conviction and selection of strong stocks.....

This is not a day traders market, IF we are going for series of new all time highs......

Many strong stocks are behaving solid and are ready to bust UP.

Because of China , Fed , oil and commodities slump, we had a very difficult start in 2016.....now, all that have been discounted for the most part, usual up and downs are OK in any TAPE.

SO...go back to your "non-CNBC drawing board" and see what looks good to you going forward.

Be diversified with reasonable weighting to participate in future upside.

Listening to TAPE instead of listening to a flawed logic is the right approach.

Weakness to be bought over and over until you are @ full allocation.

Good luck with your own logic and stock picking system.

BLOG does NOT give buy or sell.

Saleem


Friday, February 26, 2016

Indices closed mixed.....

Indices closed mixed on yo yo oil price movement. Indices closed near low of the day.

S&P 500 @ 1948.05, low 1945.78, high 1962.96

RSI @ 56.04

CMF @ 0.223

Internals were :

UP volume led by 1.70 to 1 in NYSE & 1.54 to 1 in Nasdaq

Advancing stocks led by 1.62 to 1 in NYSE & 1.83 to 1 in Nasdaq

Net new 52 wk highs were leading by 31 in NYSE & lows by 2 in Nasdaq

VIX UP 3.66% @ 19.81

Oil @ $32.78

Gold @ $1220.40

Canadian $ @ .6453

Stocks which were UP 1% included BIDU CNQ JKS
TWTR LVS WYNN LNKD NXPI TSLA CSIQ SINA
DNKN FFIV YELP AMCC SPLK LRCX FEYE AMBA
QRVO DATA SWIR CSOD MGA MS CTRP GS MLNX
AGU......

In my portfolio :

Bought ABX @ $13.40

Here is my weighting :

FB      26.64%

BIDU  20.45%

CNQ   16.49%

CTSH  8.05%

V          6.85%

MSFT  6.64%

JKS      6.37%

SBUX  5.49%

ABX    3.02%

Next post by 2 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Thursday, February 25, 2016

Indices closed UP .87% to 1.29%....NICE !!!!

Indices closed UP.

S&P 500 @ 1951.70, high 1951.83, low 1925.41

RSI @ 56.84

CMF @ 0.269

Internals were :

UP volume led by 2.93 to 1 in NYSE & 2.54 to 1 in Nasdaq

Advancing stocks led by 2.89 to 1 in NYSE & 1.57 to 1 in Nasdaq

Net new 52 wk highs were leading by 62 in NYSE & lows by 19 in Nasdaq

VIX Down 7.77% @ 19.11

Oil @ $33.07

Gold @ $1238.80

Stocks which were UP 1% or more CTSH FB MSFT SBUX V
COH LVS WYNN LNKD LEN NXPI NFLX TSLA SU
YHOO FFIV MA YELP FSLR CRUS PANW SPLK
LRCX FEYE AAL M MCD UA AEM DATA
SWIR CSOD MGA ORCL MS VRX ZG
GS AGU TRIP.....

AH ER...BIDU UP 10.81%, SPLK UP 13.81%
               PANW UP 4.78% +9.65% pre release

BIDU earning report was a beat on Sales and huge beat on EPS by 1.57 billion yuan, expectation was 2.2 billion yuan, actual EPS 3.87 billion yuan, guidance is in line.           

AH futures Mixed

AH Asian Market Mixed

AH  Oil & Gold Down

About market, TAPE followed oil closely from open to close and closed @ high of the day. Internals were strong and S&P 500 closed above much feared 1950 area.S&P 500 also closed above 50 DMA, first index to accomplish. TAPE has become healthy as it defied Shanghai 6%++ slump. Stay with conviction in strong stocks, there is more gains to come.

BLOG does NOT give buy or sell.

Saleem

Indices UP .39% to .87%.....NICE !!!!

Indices are tracking oil again, first down then UP. Indices are @ high of the day.

S&P 500 @ 1942.94, high 1944.81, low 1925.41

Internals are positive by 2 to 1 in most categories.

Oil UP $1.11

Gold Down $3.40

Canadian $ UP 1.72 cent @ .6472 US$..huge move today against US$ @ highest level since December 2015.

VIX Down 3.91% @ 19.91

Portfolio BIDU CNQ CTSH FB JKX MSFT SBUX V

Most stocks are higher

@ 2.34 following are red :

BIDU CNQ JKS RLYP NTES TWTR PCLN AMZN
CSIQ SINA CMG YUM BABA AMCC CIEN
AMBA CCJ CTRP.

BIDU reports after close, here are the expectations :

Q4 Sales $18.55 billion, EPS $6.62

Q1 guidance Sales $16.32 billion, EPS $5.57

Expecting a beat and slightly higher guidance.

BLOG does NOT give buy or sell.

Saleem


Wednesday, February 24, 2016

Indices closed UP .32% to .87%....NICE !!!!

Indices closed UP.

S&P 500 @ 1929.80, high 1932.08, low 1891.00

RSI @ 53.12

CMF @ 0.202

Internals were :

UP volume led by 1.30 to 1 in NYSE & 1.98 to 1 in Nasdaq

Advancing stocks led by 1.80 to 1 in NYSE & 1.75 to 1 in Nasdaq

Net new 52 wk lows were leading by 21 in NYSE & 80 in Nasdaq

VIX Down 1.24%@ 20.72

Oil @ $32.15

Gold @ $1239.10

Stocks which were UP 1% or more included BIDU FB JKS 
SPWR FSLR CSIQ NTES AAPL AMZN LNKD NXPI NFLX 
TSLA DNKN SU EBAY VDSI CRUS MU CIEN LRCX FEYE
AMBA M SPLK UA GG CCJ DATA SWIR CSOD VRX MLNX

AH ER...CRM UP 8.93%, NTES Down 6.19%,
               RLYP Down 12.99%

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE chased oil to the downside and then reversed with oil & closed near high of the day. Oil remains the only thing to watch on a daily basis to determine direction of this TAPE. Weakness in strong stocks based on averages is a very good opportunity to average down or start a new position. Stay the course as we have more room to run north.

BLOG does NOT give buy or sell.

Saleem

Indices mixed....

Indices were sharply lower again on lower oil, indices are mixed as oil is higher. Indices are near high of the day.

S&P 500 @ 1921.76, high 1923.38, low 1891.00

Internals are mostly positive

Oil UP 37 cents

Gold UP $9.80

Canadian $ UP 90 tick @ .6298 US$

VIX UP .67% @ 21.12

Portfolio BIDU CNQ CTSH FB JKS MSFT SBUX V 

Most stocks are UP

@ 2.57 following are red :

CNQ SBUX V ABX RLYP GOOG PCLN TWTR
LULU AMZN LVS CMG PANW AEM MGA
MS ZG WYNN GS YELP....

BLOG does NOT give buy or sell.

Saleem


Tuesday, February 23, 2016

Indices closed down 1.14% to 1.47%......

Indices closed down.

S&P 500 @ 1921.27, low 1919.44, high 1942.38

RSI @ 51.61

CMF @ 0.200

Internals were :

Down volume led by 3.92 to 1 in NYSE & 3.02 to 1 in Nasdaq

Declining stocks led by 2.09 to 1 in NYSE & 2.24 to 1 in Nasdaq

Net new 52 wk highs were leading by 13 in NYSE & lows by 36 in Nasdaq

VIX UP 8.26% @ 20.98

Oil @ $31.87

Gold @ $1222.60

AH ER...FSLR UP 2.86%

AH Futures UP

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE was under pressure from lower oil prices. Indices closed near low of the day. CMF is green in all indices and IBD market outlook is "market under confirmed uptrend". Buying on weakness should pay off in the longer run. Stay with your exposure as this yo yo market may change for the better in near term.

BLOG does NOT give buy or sell.

Saleem

Indices down .98% to 1.06%.....

Oil is dictating TAPE again, lower oil and lower equities. Saudi's are making statements which is unsettling to the market.

S&P 500 @ 1925.71, low 1922.32, high 1942.38

Internals are negative volume wise 3 to 1

Oil Down $1.54

Gold UP $13.30

Canadian $ Down 46 tick @ .6249 US$

VIX UP 5.62% @ 20.47

In my portfolio :

Added 10% BIDU @ $163.15

Portfolio BIDU CNQ CTSH FB JKS MSFT SBUX V

Most stocks are down

@ 2.42 following are green :

ABX TWTR LULU COH LVS LEN TSLA DNKN CMG
AMCC M GG AEM VRX ZG WYNN .....

BLOG does NOT give buy or sell.

Saleem

Monday, February 22, 2016

Indices closed UP 1.40% to 1.47%...NICE !!!!

Indices closed UP.

S&P 500 @ 1945.50, high 1947.70, low 1924.44

RSI @ 56.39

CMF @ 0.185

Internals were :

UP volume led by 9.49 to 1 in NYSE& 4.36 to 1 in Nasdaq

Advancing stocks led by 3.53 to 1 in NYSE & 2.38 to 1 in Nasdaq

Net new 52 wk highs were leading by 46 in NYSE & 3 in Nasdaq

VIX Down 5.60% @ 19.38

Oil @ $31.48

Gold @ $1210.10

Stocks which were UP 2% or more included 
BIDU CNQ FB JKS SBUX V
SPWR FSLR CSIQ NTES AMZN 
LVS WYNN LNKD LEN NXPI NFLX
TSLA YHOO CMG SU YUM FFIV BABA
YELP CRUS AMCC CIEN FEYE AMBA AAL
M PANW SPLK ABX CCJ SWIR CSOD MGA MS
MLNX......

AH ER...VECO Down 14.56%, FIT Down 15.01%

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was strong and closed near high of the day. Many sectors participated in this rally, internals are all positive which is a rarity . Oil is in driver seat and it gives direction to equities.Stay engaged with strong stocks as they have started to move up. Any weakness gives you a chance to add or buy quality stocks. No need to focus on bargain @ all.

BLOG does NOT give buy or sell.

Saleem

Indices UP 1.30% to 1.40%.......NICE !!!!

Indices are showing strength from Asia, Europe and now in USA, all because of strength in oil.

S&P 500 @ 1942.81, high 1946.70, low 1924.44

Internals are positive by 4 to 1 in NYSE & 3 to 1 in Nasdaq

Oil UP $1.87

Gold Down $20.80

Canadian $ UP 69 tick @ .6304 US$

VIX Down 6.09% @ 19.28

Portfolio BIDU CNQ CTSH FB JKS MSFT SBUX V

Most stocks are UP

@ 2.30 following are red :

RLYP LULU EXPE MU GG PCLN VRX ZG TRIP

BLOG does NOT give buy or sell.

Saleem

Sunday, February 21, 2016

Stock market & Oil ......

There has been a strange co-relationship with oil price movement and stock market direction.

Oil @ $29.64 on Friday is much better than low of  $26.05, this is a move up of 13.78% from low.

Stock prices have also moved in the last 5 trading days.....

First we moved UP from 1810.10 to 1930.68 in 3 trading days, which was a move of 120.58 S&P 500 points or 6.66%....

On Thursday & Friday we gave up @ low of the day, 28.51 points or 1.48%.....

OECD has given its latest estimate of GDP growth, everything is revised lower, US @ 3% and Canada @ 1.5%......no recession @ all.

IF we look @ total picture worldwide, it is not a negative scenario @ all.

Gold is flying higher on renewed inflation which came in above target in USA....

Most traders were not sure of gold rising but now we know why it was going up as inflation is ticking up from wage growth to consumer items.

Inflation is good as companies are able to increase prices on their product & services.

What all of the above means for stock prices.....

I believe that we will slowly move higher from here....

Front line companies will move up faster than struggling companies.

It is important to be in strong stocks as there is lot of room for price appreciation.

Many strong stocks are selling near lower end of their old range, i expect them to be much higher and make new highs in a years time.

@ this stage of the market, it is important to have higher exposure when prices are low.

This week, market should move higher as oil may find support and move up from here.

Conviction & patience is key in a changing market condition, IF we are to move substantially higher as we go along, then you have lot of room to grow your portfolio and returns.

Good luck with your own homework and stock picks.

BLOG does NOT give buy or sell.

Saleem

Friday, February 19, 2016

Indices closed mixed......

Indices closed near high of the day despite oil taking it on the chin again. Fed speak also took a toll as talk of raising interest rate resurfaced again. Considering Oil & Fed, we did way better by close.

S&P 500 @ 1917.78, low 1902.17, high 1918.78

RSI @ 51.84

CMF @ 0.192

Internals were :

UP volume led by .53 to 1 in NYSE & 1.53 to 1 in Nasdaq

Advancing stocks led by .97 to 1 in NYSE & 1.24 to 1 in Nasdaq

Net new 52 wk lows were leading by 5 in NYSE & 37 in Nasdaq

VIX Down 5.13% @ 20.53...going down on weak TAPE ???

Oil @ $29.64

Gold @ $1230.80

Canadian $ @ .6228

Stocks which closed UP 1% or more included 
BIDU FB JKS SBUX
NTES PCLN AMZN CSIQ
YHOO SINA EXPE EBAY BABA
YELP CRUS LRCX FEYE PANW SPLK
DATA CSOD CTRP ZG MLNX......

Here is my weighting :

FB      27.98%

BIDU 18.86%

CNQ   17.95%

CTSH   8.55%

V          7.29%

MSFT  7.26%

JKS      6.22%

SBUX  5.89%

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, February 18, 2016

Indices closed down .25% to 1.03%....

Indices closed down.

S&P 500 @ 1917.83, low 1915.09, high 1930.00

RSI @ 51.65

CMF @ 0.153

Internals were :

Down volume led by 1.45 to 1 in NYSE & 1.80 to 1 in Nasdaq

Declining stocks led by .95 to 1 in NYSE & 1.53 to 1 in Nasdaq

Net new 52 wk highs were leading by 12 in NYSE & lows by 38 in Nasdaq

VIX Down 3.00% @ 21.64

OIl @ $30.77

Gold @ $1226.30

AH ER...JWN Down 8.38%, AMAT UP 7.22%

AH Futures Mixed

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE pulled back after major UP move. Oil rested today as pundits talk is on overdrive for oil production freeze agreement with Iran & Iraq, it is in everybody's interest to agree on managing oil prices and bringing stability to world economy. Today's pullback was orderly and many stocks bucked the trend, which is a sign of healthy TAPE. Internals were reflecting indices @ close. Conviction and diversification is a winning formula. There is a closing BLOG around 7 PM on Friday's.

BLOG does NOT give buy or sell.

Saleem

Indices down .05% to .69%.....

Indices are lower on mild overbought condition and oil being slightly lower. It is healthy mini pullback after 6%++ run.

S&P 500 @ 1921.61, low 1915.40, high 1930.00

Internals are mostly negative.

Oil Down 5 cents

Gold UP $22.20

Canadian $ Down 65 tick @ .6268 US$

VIX Down 2.96% @ 21.65...this is positive for equities.

In my portfolio :

Added 25% FB @ $103.78

Portfolio BIDU CNQ CTSH FB JKS MSFT SBUX V

Most stocks are lower.

@ 2.32 following are green :

JKS MSFT RLYP TWTR PCLN LULU ABX COH
LVS FIT LNKD CSIQ YHOO SINA CMG YUM
EBAY FFIV BABA YELP FSLR CRUS MU
AMBA AMCC AAL SLW GG AEM ZG
WYNN.....

BLOG does NOT give buy or sell.

Saleem


Wednesday, February 17, 2016

Indices closed UP 1.59% to 2.21%....NICE !!!!

Indices closed UP.

S&P 500 @ 1926.82, high 1930.68, low 1898.80

RSI @ 53.27

CMF @ 0.206

Internals were :

UP volume led by 8.03 to 1 in NYSE & 5.31 to 1 in Nasdaq

Advancing stocks led by 4.86 to 1 in NYSE & 2.68 to 1 in Nasdaq

Net new 52 wk highs were leading by 12 in NYSE & lows by 30 in Nasdaq

VIX Down 7.47% @ 22.31

Oil @ $30.66

Gold @ $1211.40

Stocks which were UP 3% or more included BIDU CNQ FB
RLYP NTES TWTR PCLN FIT LNKD NFLX TSLA SU
EXPE CMG YELP MU FEYE PANW SPLK UA CCJ
DATA SWIR CSOD MGA VRX ZG TRIP....

AH ER....NVDA UP 7.23%, ABX Down 2.35%
                 JACK Down 19.3%

AH Futures UP

AH Asian markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE has move UP 117.82 points in S&P 500 in last 3 trading days or 6.5% , this is an incredible pace for a bullish tape, expect some digestive phase. Not all boats will be lifted going forward, it will be selective and most strong stocks will participate. Focus on long term stock picking ideas as we have just begun. Most participant are perplexed @ this strong rally, market profile has changed so a different strategy is warranted vs quick trades.

BLOG does NOT give buy or sell.

Saleem

Indices UP 1.59% to 2.18%....NICE !!!!

Indices are @ high of the day on higher oil and fed minutes, fed was worried about direction of interest rate, wanted to tone down, good news for equities.

S&P 500 @ 1927.43, high 1928.07, low 1898.80

Internals are positive by 5 to 1 in NYSE & 3 to 1 in NYSE

Oil UP $1.79

Gold UP $3.10

Canadian $ UP 1.68 cent @ .7309 US$

VIX Down 7.55% @ 22.29

In my portfolio :

Added 120% MSFT @ $51.45

Portfolio BIDU CNQ CTSH FB JKS MSFT SBUX V

Most stocks are UP

@ 2.20 following are red :

SINA VDSI AMCC GG AEM MLNX.....

BLOG does NOT give buy or sell.

Saleem

Tuesday, February 16, 2016

Indices closed UP 1.39% to 2.27%.....NICE !!!!

Indices closed UP.

S&P 500 @ 1895.58, high 1895.77, low 1871.44

RSI @ 47.99

CMF @ 0.164

Internals were :

UP volume led by 5.83 to 1 in NYSE & 6.80 to 1 in Nasdaq

Advancing stocks led by 4.36 to 1 in NYSE & 3.64 to 1 in Nasdaq

Net new 52 wk lows were leading by 31 in NYSE & 49 in Nasdaq

VIX Down 5.08% @ 24.11

Oil @ $29.04

Gold @ $1208.20

Stocks which were UP 2% or more included BIDU CTSH JKS
RLYP SPWR CSIQ FSLR NTES TWTR PCLN AAPL
AMZN COH LVS FIT LNKD NXPI TSLA YHOO
SINA DNKN EXPE CMG EBAY YUM VDSI
BABA YELP FSLR MU AMCC CIEN 
LRCX FEYE AMBA AAL M PANW
SPLK UA MS VRX CTRP ZG
WYNN TRIP....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was strong despite oil being lower, Indices closed @ high of the day which is a strong confirmation of this rally on day 2. Internals were strong and many stocks had 10% UP move today which is a rarity. Most boats were lifted which is a sign of a washed out bottom, bodes well for the length of this rally.

BLOG does NOT give buy or sell.

Saleem

Indices UP 1.25% to 2.08%....NICE !!!!

TAPE is rallying for second day in a row after Asia & Europe rallying 2 days in a row. Oil closed down 40 cents but equity behaved in a bullish manner. When stocks wants to go UP nothing gets in the way.

S&P 500 @ 1892.74, 1895.40, low 1871.44

Internals are positive by 4 to 1

Oil Down 35 cents

Gold Down $34.80

Canadian $ Down 46 tick @ .6121

VIX Down 8.19% @ 23.32

In my portfolio :

Added 40% CNQ @ $19.83

Portfolio BIDU CNQ CTSH FB JKS MSFT SBUX V

Most stocks are UP

@ 2.50 following are red :

FB ABX SLW GG AEM CSOD.....

BLOG does NOT give buy or sell.

Saleem


Sunday, February 14, 2016

Are we all clear for a sustained rally ?

Since January of 2016 in S&P 500, we have gone down from 2081.56 to 1810.10, in 7 weeks we have lost 271.46 points or 13.04%.....IF you take this number in isolation, it is known as correction not a bear market.

Carter Worth is predicting 1575 in S&P 500...that is another 235 points or 12.98% from low of Thursday for a total loss since January of 506.56 points or 24.34% ....a definitely bear market picture.

What are the odds of Carter Worth being right......

There has been many famous pundits before from Joe Granville to Robert Prechter who made some right calls but were trapped in their "bearish slant for too long"...thus lost all credibility & following...

Granville kept looking for 800 on Dow and Prechter was preaching 400 for Dow for years.....now we know why it is bad to follow any pundit for too long.....

Current pundit were telling you, that for last 6 months 1575 is a given...well IF you believed that 6 months ago, you have lost lot of equity in the process.

It is important to deal with "current status " of any market, this way, you have an accurate picture in real time.

SO....all we had was a full blown correction, nothing more nothing less.....

In case anyone is not sure.....a pullback of 20% defines a bear market.......

Corrections were ranging upto 12% before, this time we went 13.04%...as we were facing many uncertainties like low low oil, Chinese slowdown and Fed tightening, considering all the challenges 13.04% pullback showed lot of resiliency.

Based on my multi decade experience, all charts are showing an enormous buying opportunity...charts are as bad as they can get on a short term basis......

YES...i believe that we should have a sustained rally of @ least 4 weeks, with usual profit taking bouts.

Buy stocks which you know well and try to max out your gains with 4 week patience.

It looks like an easy environment to make money in short term.

YES...all boats will be lifted again, this is what happens @ "double bottom lows"

Last Friday was a classic example of all boats being lifted with Banks, Oils and even Gold participated while gold was down for the day.

Most world markets are open on Monday except USA & Canada........

Good luck with your own take of market and stocks.

BLOG does NOT give buy or sell.

Saleem

Friday, February 12, 2016

Indices closed UP 1.66% to 2.00%.....NICE !!!!

Indices closed @ high of the day, S&P 500 @ absolute high of the day. Trigger for today's rally was almost 12% jump in oil prices.

S&P 500 @ 1864.78, high 1864.78, low 1833.40

RSI @ 41.99

CMF @ 0.106

Internals were :

UP volume led by 6.38 to 1 in NYSE & 4.68 to 1 in Nasdaq

Advancing stocks led by 3.91 to 1 in NYSE & 3.18 to 1 in Nasdaq

Net new 52 wk lows were leading by 110 in NYSE & 129 in Nasdaq

VIX Down 9.74% @ 25.40

Oil @ $29.44

Gold @ $1239.40

Canadian $ @ .6155 US$

Stocks which closed 2% or more included
BIDU CNQ CTSH JKS V
SPWR TWTR LULU COH LVS
LEN NXPI CSIQ SINA DNKN CMG
SU YUM MA YELP MU CIEN LRCX
AMBA AAL M UA ABX SLW GG CCJ
CSOD MGA ORCL MS.......

Here is my weighting :

FB      26.96%

BIDU  21.37%

CNQ   15.57%

CTSH 10.05%

V          8.76%

SBUX  6.95%

JKS      6.43%

MSFT   3.91%

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, February 11, 2016

Indices closed down .39% to 1.60%.......

Indices closed down.

S&P 500 @ 1829.08, low 1810.10, high 1847.00

RSI @ 33.76

CMF @ 0.090

Internals were :

Down volume led by 4.29 to 1 in NYSE & 2.57 to 1 in Nasdaq

Declining stocks led by 4.46 to 1 in NYSE & 2.30 to 1 in Nasdaq

Net new 52 wk lows were leading by 696 in NYSE & 485 in Nasdaq

VIX UP 7.04% @ 28.14

Oil @ $26.21

Gold @ $1247.80

AH ER....ZG Down 10.17%, CYBR Down 11.11%

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE continued its slump with oil prices again. As we are deeply oversold Dow recovered from 400 slump to a half decent close of down 254. Nasdaq behaved much better by being down only 16 points. It is important to stay with your own conviction and show patience as stock prices can go north in a hurry. Only closing BLOG around 7 PM on Friday's.

BLOG does NOT give buy or sell.

Saleem

Indices down 1.46% to 2.47%......

Indices are near low of the day as oil makes a new 12 year low. Fed is not taking any responsibility for stock market slump.

S&P 500 @ 1814.25, low 1811.79, high 1847.00

Internals are negative by 6 to 1 in NYSE & 3 to 1 in Nasdaq

Oil Down 97 cents

Gold UP $58

Canadian $ Down 78 tick @ .5999 US$

VIX UP 17.54% @ 30.90

Portfolio BIDU CNQ CTSH FB JKS MSFT SBUX V 

Most stocks are down

@ 2.38 following are green :

RLYP PCLN AMZN TSLA DNKN EXPE CMG 
AMCC PANW ABX SLW GG AEM ZG
WYNN TRIP.......

BLOG does NOT give buy or sell.

Saleem


Wednesday, February 10, 2016

Indices closed mixed.....

Indices closed mixed.

S&P 500 @ 1851.86, low 1850.32, high 1881.60

RSI @ 36.86

CMF @ 0.087

Internals were :

UP volume led by .86 to 1 in NYSE & 1.59 to 1 in Nasdaq

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

Net new 52 wk lows were leading by 125 in NYSE & 208 in Nasdaq

VIX Down .94% @ 26.29

Oil @ $27.45

Gold @ $1194.60

Stocks which were UP 1% or more included
BIDU CTSH FB JKS SBUX V
NTES TWTR PCLN LULU AMZN
LVS LEN NFLX YHOO EXPE CMG MA
FEYE AMBA AAL PANW UA ABX GG DATA
ZG MLNX....

AH ER....TWTR Down 3.2%, CSCO UP 7.93%
                TSLA UP 9.63%, EXPE UP 11.61%

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE closed near low of the day after Fed dashed hope for change in rate scenario, market were UP earlier. Oil remains the deciding factor as to the direction of this market. Lot of noise about every negative aspect which may put negative spin to this TAPE. We have to wait out this phase whenever it ends. Stay with quality stocks in a diversified portfolio.

BLOG does NOT give buy or sell.

Saleem

Indices UP .17% to 1.57%.....NICE !!!!

Indices are UP after Fed statement released prior to testimony, not much of a change in policy but an acknowledgement that world growth and stock market turmoil will be considered. Rate hike will be gradual.

S&P 500 @ 1866.28, high 1881.60, low 1857.10

Internals are positive by more than 2 to 1

Oil Down 58 cents

Gold Down $5.50

Canadian $ Down 76 tick @ .6061 US$

VIX Down 4.97% @ 25.22

Portfolio BIDU CNQ CTSH FB JKS MSFT SBUX V

Most stocks are UP

@ 2.31 following are red :

CNQ RLYP SPWR COH GPRO TSLA CSIQ SU
VDSI YELP FSLR M SLW CCJ AGU.....

BLOG does NOT give buy or sell.

Saleem


Tuesday, February 9, 2016

Indices closed down .07% to .35%.....

Indices closed down.

S&P 500 @ 1852.21, low 1834.94, high 1868.25

RSI @ 36.91

CMF @ 0.104

Internals were :

Down volume led by 1.83 to 1 in NYSE & 2.03 to 1 in Nasdaq

Declining stocks led by 2.31 to 1 in NYSE & 1.88 to 1 in Nasdaq

Net new 52 wk lows were leading by 433 in NYSE & 441 in Nasdaq

VIX UP 2.08% @ 26.54

Oil @ $27.94

Gold @ $1198.60

AH ER...DIS Down 3.43%, SCTY Down 33.51%
                PNRA UP 3.4%, AKAM UP 16.76%

AH Futures Down

AH Asian Markets Down

AH Oil UP

AH Gold Down

BIDU did not report although all brokerages were showing today as earnings day, Chinese New Year may be playing a role in this confusion.

About market, TAPE continues to be hostage to oil price movement as oil related loans are very much in focus.Janet Yellen testimony can help sentiment which may clear up her interest rate hike focus. There is extreme reaction to any disappointment in earnings and good earnings lose their gains quickly, thus a no win situation for now. Stay with conviction as this phase may be coming to an end soon.

BLOG does NOT give buy or sell.

Saleem