Indices are fighting to come above 50 DMA after dipping below......
Close is important for technical health of this market.......
Gold UP $8.00
Oil Down $2.22
Canadian $ Down 56 tick to 97.34 cents US for 1 CAD...
In my portfolio :
Doubled my position in TSL @ $23.51
Portfolio is CRUS,CIEN,RFMD,TER,TSL...
Most stocks are down.....
@ 1.25 following are green :
TCK,WDC,AUY,EGO,GOOG,GS,CSIQ,
RIMM,IBN,SOHU,QID,VXX,CCJ,IPI,
BIDU,NDN,M,LVS,EXPE,X,AMZN,AGU,
SINA,SNDA,CTRN,ICE,JRCC,GAME....
PS..had to step out for some chores, thus delay in my post.
BLOG does NOT give buy or sell.
Saleem
Wednesday, May 5, 2010
Tuesday, May 4, 2010
TAPE is falling apart.....
Market TAPE is falling apart in a hurry....
Today's market slump was on heavy volume.....
Market internals were pretty poor @ close as listed below :
Down volume led by 15.15 to 1 in NYSE & 13.93 to 1 in Nasdaq
Declining stocks led by 6.06 to 1 in NYSE & 5.69 to 1 in Nasdaq
New 52 wk highs were only 64 in NYSE & 43 in Nasdaq.....
All of the above stat are not good...showing a very sick market.....
All major Indices are very close 50 DMA & MAY go below to find support
IBD saying tonight that "market in correction"
RSI numbers @ close are also very weak..near early Feb lows.....& they are :
Nasdaq 44.78
S&P 500 44.84
Dow 46.86
A defensive posture is very much needed.......
I have reduced my exposure to 30%......
Sold RIMM
Added 65% more TER @ $12.11
Portfolio is CRUS,CIEN,RFMD,TER,TSL......I am trying to FOCUS in technically healthy stocks with good fundamentals......to survive in this WEAK market.....
Many charts are breaking down..some known stocks are
below 200 DMA like RIMM,GOOG,NVDA,MRVL,PMCS,POT,PWRD,NTES,
CYOU,APWR,SPWRA, TLM,SU,CCJ......to name a few.....
VIX closed UP 18.08% @ 23.84
AH Futures are UP..
AH Asian markets are Down
AH Oil,Gold,Silver Down
BLOG does NOT give buy or sell.
Saleem
Today's market slump was on heavy volume.....
Market internals were pretty poor @ close as listed below :
Down volume led by 15.15 to 1 in NYSE & 13.93 to 1 in Nasdaq
Declining stocks led by 6.06 to 1 in NYSE & 5.69 to 1 in Nasdaq
New 52 wk highs were only 64 in NYSE & 43 in Nasdaq.....
All of the above stat are not good...showing a very sick market.....
All major Indices are very close 50 DMA & MAY go below to find support
IBD saying tonight that "market in correction"
RSI numbers @ close are also very weak..near early Feb lows.....& they are :
Nasdaq 44.78
S&P 500 44.84
Dow 46.86
A defensive posture is very much needed.......
I have reduced my exposure to 30%......
Sold RIMM
Added 65% more TER @ $12.11
Portfolio is CRUS,CIEN,RFMD,TER,TSL......I am trying to FOCUS in technically healthy stocks with good fundamentals......to survive in this WEAK market.....
Many charts are breaking down..some known stocks are
below 200 DMA like RIMM,GOOG,NVDA,MRVL,PMCS,POT,PWRD,NTES,
CYOU,APWR,SPWRA, TLM,SU,CCJ......to name a few.....
VIX closed UP 18.08% @ 23.84
AH Futures are UP..
AH Asian markets are Down
AH Oil,Gold,Silver Down
BLOG does NOT give buy or sell.
Saleem
Indices Down 2.48% to 3.42% on worries about Eurozone....
Indices are taking it on the chin on renewed worries about economically weak countries in Europe......
Nasdaq is the weakest with almost 3.5% slump......
Today is a classic case of booking serious profit on negative reaction to Europe.....Greece Stock Exchange slumped 6.7%
Gold Down $10.40
Oil Down $2.93
Canadian $ Down 1.12 cent to 97.83 cents US for 1 CAD....
In my portfolio :
Bought CRUS @ $12.05
Bought TSL @ $24.88
Portfolio is CRUS,CIEN,RFMD,RIMM,TER,TSL......
Most stocks are RED....
@ 12.34 following are green :
QID,VXX,MA,GS,ANN.....
BLOG does NOT give buy or sell.
Saleem
Nasdaq is the weakest with almost 3.5% slump......
Today is a classic case of booking serious profit on negative reaction to Europe.....Greece Stock Exchange slumped 6.7%
Gold Down $10.40
Oil Down $2.93
Canadian $ Down 1.12 cent to 97.83 cents US for 1 CAD....
In my portfolio :
Bought CRUS @ $12.05
Bought TSL @ $24.88
Portfolio is CRUS,CIEN,RFMD,RIMM,TER,TSL......
Most stocks are RED....
@ 12.34 following are green :
QID,VXX,MA,GS,ANN.....
BLOG does NOT give buy or sell.
Saleem
Monday, May 3, 2010
Strong close in all Indices......
Indices were strong @ close with gains of upto 1.5%......
Strong stocks which were UP 3% or more included :
TER,RFMD,CIEN,CREE,ISRG,LVS,RVBD,
CSIQ,SOLF,GNK,MU,LDK,AMCC,JDSU,
FNSR,JASO,SNDK,BZH,STX,LSCC....
AH ASIA ER was a beat & guiding higher EPS but lower Sales
ASIA UP AH 5.14% in AH volume of 50,784...Gross margin were
sharply higher.....
VIX Down 8.44% to 20.19
AH Futures are mixed.
AH Nikkei UP
AH Oil,Gold,Silver Down....
BLOG does NOT give buy or sell.
Saleem
Strong stocks which were UP 3% or more included :
TER,RFMD,CIEN,CREE,ISRG,LVS,RVBD,
CSIQ,SOLF,GNK,MU,LDK,AMCC,JDSU,
FNSR,JASO,SNDK,BZH,STX,LSCC....
AH ASIA ER was a beat & guiding higher EPS but lower Sales
ASIA UP AH 5.14% in AH volume of 50,784...Gross margin were
sharply higher.....
VIX Down 8.44% to 20.19
AH Futures are mixed.
AH Nikkei UP
AH Oil,Gold,Silver Down....
BLOG does NOT give buy or sell.
Saleem
Almost 1.5% jump in Indices...NICE !!!!
Indices are showing their "bull run" by tagging another 1%+++ move UP.....
Economic news are getting better & better......
China is clamping down on runaway inflation by increasing bank reserve for the third time....thus less money available for lending...thus putting pressure on Commodities....
Gold UP $5.90
Oil UP 71 cents
Canadian $ UP 52 tick to 98.75 US cents for 1 CAD.....
Portfolio is CIEN,RFMD,RIMM,TER.....
Most stocks are UP
@ 1.20 following are RED :
TCK,AUY,POT,MS,SOL,TC,NTES,AA,
IBN,IPI,CMED,V,NVDA,GG,X,GAME,
AGU,VXX,QID,AEM,ABX....
PS.....Post was delayed due to overseas phone call.
BLOG does NOT give buy or sell.
Saleem
Economic news are getting better & better......
China is clamping down on runaway inflation by increasing bank reserve for the third time....thus less money available for lending...thus putting pressure on Commodities....
Gold UP $5.90
Oil UP 71 cents
Canadian $ UP 52 tick to 98.75 US cents for 1 CAD.....
Portfolio is CIEN,RFMD,RIMM,TER.....
Most stocks are UP
@ 1.20 following are RED :
TCK,AUY,POT,MS,SOL,TC,NTES,AA,
IBN,IPI,CMED,V,NVDA,GG,X,GAME,
AGU,VXX,QID,AEM,ABX....
PS.....Post was delayed due to overseas phone call.
BLOG does NOT give buy or sell.
Saleem
Sunday, May 2, 2010
Sell in May.....?????
SO..it is May...the much dreaded selling season till October......????
S0..you sold everything in May last year & felt very smart ????
Sell in May & go away...has no DEFINITIVE track record in last 10 years...as we keep moving UP to higher grounds.....
History is NEVER a good guide on Wall Street..as Wall Street keeps CHANGING......
Factually..... we slumped from March of 08 to March of 09..after making new highs in S&P 500....when we hit 1440 in March of 08 to 666 in March of 09..so full 12 months were washed out......but nobody could predict the intensity of "financial meltdown"
So..here we are in May of 2010......GS has been charged & Greece has become an issue for markets.....
BUT...GS is priced in & Greece bailout is ready to be signed off on Friday.........
Investor intelligence had the most bullish reading of 54% last Thursday...then market promptly corrected on Friday.......
RSI reading on Friday close is @ :
S&P 500 49.35
Nasdaq 51.04
Dow 51.21
Indices are close to their support levels.....major support exist in 50 DMA.......
I personally believe..... that markets are on the verge of making another run to new highs......
Worldwide economies are in "robust mode".....
Australia is looking @ 40% tax on mining profit to spend on infrastructure (Ports,Rail,Roads) & lowering corporate tax......due to booming demand from China & India...
Every country which i monitor..is showing GDP growth on a quarterly basis......
We have just about wrapped the aftermath of financial meltdown...GS indictment is the last straw of financial machination.......
Friday's correction was very healthy.......technicals are repaired & retested for support......
Any weakness is/has been a "buying opportunity"
I am extremely bullish going forward.......
Here is my $/sector allocation as of Friday's close :
RIMM 66.44% Tech/Smartphone
CIEN 18.32% Tech/Optical Networking
TER 9.24% Tech/Test equipment
RFMD 6.0% Tech/semiconductor
Yes....i am all in Tech..which is having extremely robust growth..still diversified in many areas of Tech........
Looking beyond corrections is very important..as we are in a major bull run........think one year out when buying anything......
Good luck with your OWN due diligence & comfort level.
BLOG does NOT give buy or sell.
Saleem
S0..you sold everything in May last year & felt very smart ????
Sell in May & go away...has no DEFINITIVE track record in last 10 years...as we keep moving UP to higher grounds.....
History is NEVER a good guide on Wall Street..as Wall Street keeps CHANGING......
Factually..... we slumped from March of 08 to March of 09..after making new highs in S&P 500....when we hit 1440 in March of 08 to 666 in March of 09..so full 12 months were washed out......but nobody could predict the intensity of "financial meltdown"
So..here we are in May of 2010......GS has been charged & Greece has become an issue for markets.....
BUT...GS is priced in & Greece bailout is ready to be signed off on Friday.........
Investor intelligence had the most bullish reading of 54% last Thursday...then market promptly corrected on Friday.......
RSI reading on Friday close is @ :
S&P 500 49.35
Nasdaq 51.04
Dow 51.21
Indices are close to their support levels.....major support exist in 50 DMA.......
I personally believe..... that markets are on the verge of making another run to new highs......
Worldwide economies are in "robust mode".....
Australia is looking @ 40% tax on mining profit to spend on infrastructure (Ports,Rail,Roads) & lowering corporate tax......due to booming demand from China & India...
Every country which i monitor..is showing GDP growth on a quarterly basis......
We have just about wrapped the aftermath of financial meltdown...GS indictment is the last straw of financial machination.......
Friday's correction was very healthy.......technicals are repaired & retested for support......
Any weakness is/has been a "buying opportunity"
I am extremely bullish going forward.......
Here is my $/sector allocation as of Friday's close :
RIMM 66.44% Tech/Smartphone
CIEN 18.32% Tech/Optical Networking
TER 9.24% Tech/Test equipment
RFMD 6.0% Tech/semiconductor
Yes....i am all in Tech..which is having extremely robust growth..still diversified in many areas of Tech........
Looking beyond corrections is very important..as we are in a major bull run........think one year out when buying anything......
Good luck with your OWN due diligence & comfort level.
BLOG does NOT give buy or sell.
Saleem
Saturday, May 1, 2010
Buy rated stocks....
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
CIEN,RIMM,RFMD,TER,CRUS,BCSI,JDSU,
MRVL,TCK,LTXC,MS,CCJ,JRCC,HL,TSL,
ECA,EGLE,PIR,AUY,ASIA.
Next post by noon on Sunday.
BLOG does NOT give buy or sell.
Saleem
CIEN,RIMM,RFMD,TER,CRUS,BCSI,JDSU,
MRVL,TCK,LTXC,MS,CCJ,JRCC,HL,TSL,
ECA,EGLE,PIR,AUY,ASIA.
Next post by noon on Sunday.
BLOG does NOT give buy or sell.
Saleem
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