Indices are @ low of the day due to concern over upcoming earnings, oil being lower is another negative.
S&P 500 @ 2036.29, low 2036.09, high 2063.01
Internals are negative by 3 to 1
Oil Down 90 cents
Gold UP $15.50
Canadian $ Down 72 tick @ .6841
VIX UP 14.90% @ 16.19
In my portfolio :
Added 25% CNQ @ $25.85
Portfolio ABX CNQ CMG FEYE JKS MSFT NTES JCP
SBUX TWTR
Most stocks are lower
@ 2.23 following are green :
ABX SBUX GG LVS SINA MCD AEM VRX WYNN
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hi Stocktrader,
I sold 750 shares of RLYP at 23.93. I was losing quite a bit of money.But I am lucky again.
Thanks Saleem for the blog. I do benefit from your trades that are reported here.
Once again thanks to both of you.
Joseph
Hi Joseph,
You were not lucky but very patient and had conviction.
Saleem
Hi Saleem
Thanks for your kind words. Whatever we do with confidence and conviction can certainly become a reality if we truly believes in it. Dreams come true... It is true about my life.
Jesus said, "Tell the mountain to move, it will move".
Thanks Saleem.
Gl
Joseph
Hi Joseph,
See..now you are showing conviction with 50% share...hopefully it will give you more$$$$$
Good luck!
Saleem
Hi Joseph,
Well done! Now that the bearish cloud is lifted, the RLYP bulls throwing out their huge price targets again. Cantor came out this afternoon and said RLYP could go for $55 in a buyout scenario.
Hi Saleem,
Good luck with the CNQ!
Stocktrader
Thanks Saleem
Hi Stocktrader,
I think RLYP has a chance to go higher. It is flying now. I will keep the rest of the shares. But I need to set a stop price so that I don't lose the gain. You have been kind enough to share your views on RLYP. To be honest with you, I would have been much happier if you were also holding it with me. I believe your wife's account is blessed with profit.
Once again thank you so much.
Joseph
Hi Joseph,
Unfortunately, I also sold all the RLYP in the wife's IRA about 2.5 weeks ago in favor of WLH. Although it has performed well, it's nothing like the RLYP move.
I was hoping RLYP would do a secondary and that was going to be my re-entry since financing was the major stumbling block.
This scenario is one of the major reasons you see me do the long stocks/long TZA a lot...so that I can keep the stocks I like but have a big market hedge. I didn't do that this time because I thought there wouldn't be a point as these carry-trade unwinds tend to just hit all stocks mostly equally, with my high beta stocks getting hit hardest.
All I can do is look forward. The hardest part is that I don't have a "goto" biotech/drug stock now for diversification purposes. It is impossible to know all the biotech stories as well as I knew the RLYP one at this point...back to the drawing board.
Stocktrader
Hi Stocktrader,
I thought you had RLYP in your wife's account. At least I am glad that WLH worked for you even though you missed the RLYP run. Most of the time I trade. Though I don't make much money it is safer. You do lot of homework before you invest. I can see it in RLYP. The problem with biotech is that it can go up like a rocket and can come down all of a sudden. For example VRX.
I have a full time job. And I have two kids. Lot of my time is spent with them after my work. My wife works too. So I don't post much here. However I do follow every comment and trade you and Saleem post here.
Thanks for your help. Best of Luck.
Joseph
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