Here we are in first week of MAY......when one major trading house decided to sell SHORT billions in mini S&P 500 futures contract......resulting in triggering automatic sell programs by fastest computers on earth..so a trillion $ worth of equity was wiped out in minutes....I am sure same trading house covered their shorts which triggered computerized BUY programs ..so a 1000 point loss was created by sell programs & then 600 point recovery by buy programs.....all in a matter of minutes...we end that trading day on Thursday down 347.80....
I am 100% sure that computerized trading data has footprints & is available to SEC to find any culprit..next day???
SO..lets leave SEC to their "other important activities" like NEVER knowing what goes ON daily in markets....?????
Let us analyze what happened to the markets through S&P 500 trading.......
On April 26th S&P hit its HIGH of the year of 1219.80...9 trading days later we are @ 1110.88 Down 8.93%......ABOVE 200 DMA of 1095.72....
LOW for manipulation Thursday S&P 500 hit intraday low of 1065.79 which was DOWN 154.01 points or 12.63%...
Friday low for S&P 500 was 1094.15..down 125.65 points or 10.30%........
No matter how you analyze it..it was 9 days of sharpest decline which i have observed.........
RSI @ close on Friday is @ 30.17 LOWEST in a long long time in S&P 500....
Nasdaq RSI is @ 28.74.......
These RSI numbers are @ "screaming BUY level"
NO contagion last forever BUT is taken advantage by those who have the money & wisdom to trade accordingly......
AAPL plunged to $199 on Thursday & again on Friday to $225.....a picture of market PANIC...
In time of PANIC...it is better to re-evaluate your OWN portfolio in terms of relative strength & re-adjust in relatively stronger stocks.......
When you look back...then you will realize that "booking profit" is the smart way to go in US market...& also getting out of stocks not working out is even smarter......
It IS important to KNOW the fundamentals of good companies which has already reported as technicals are shot in most stocks...
Also focus on companies that will be reporting like PCLN Monday night,which has history of beat & guide UP.......
SO..all is NOT lost......
Regroup & stay with confidence in fundamentally strong stocks.......
World economies are improving..Jobs are being created worldwide..Inflation is ramping UP...Housing is improving......
This is "the opposite" of what we were facing in 2008....
Stock prices will reflect improving economic picture....290K job growth in US should have triggered a rally of 600 Dow points on Friday..BUT hedgies wanted market to be lower..so it closed down 140 points.....
Here is my $/sector allocation as of Friday :
CIEN 35.62% Tech/Fibre Optics
TER 30.55% Tech/Test Equipment
CRUS 21.95% TECH/Chip
RFMD 11.88 TECH/Chip
Tech will be fastest to recover alongwith base metal stocks.
Ensure your OWN comfort level & do your OWN due diligence.
BLOG does NOT give buy or sell.
Saleem
Sunday, May 9, 2010
Saturday, May 8, 2010
Buy rated stocks.....
Following momentum stocks are oversold in this slump.Please do your OWN due diligence by checking FA/TA/TAPE.
AAPL,BIDU,CREE,ISRG,TCK,POT,AGU,
WDC,GOOG,MA,V,GS,AMZN,SNDK,MS,
RIMM.
Next post by noon on Sunday.
BLOG does NOT give buy or sell.
Saleem
AAPL,BIDU,CREE,ISRG,TCK,POT,AGU,
WDC,GOOG,MA,V,GS,AMZN,SNDK,MS,
RIMM.
Next post by noon on Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, May 7, 2010
Weak close on high volume......
Market is in total control of bears who are using supercomputers to crush stocks & indices to inject fear......
Volume was heavy again in all indices......
Strictly from technical read...all the indices made a higher low today & retested support.....
BUT i do NOT believe that this market is RATIONAL..it is totally MANIPULATED by few for their OWN gains which is to take this market lower to any level... & SEC is looking the other way ?????
Next post by noon on Saturday.
BLOG does NOT give buy or sell.
Saleem
Volume was heavy again in all indices......
Strictly from technical read...all the indices made a higher low today & retested support.....
BUT i do NOT believe that this market is RATIONAL..it is totally MANIPULATED by few for their OWN gains which is to take this market lower to any level... & SEC is looking the other way ?????
Next post by noon on Saturday.
BLOG does NOT give buy or sell.
Saleem
Margin selling putting pressure in Indices.....
There was a wave of margin selling .....which is putting further pressure in indices........again Dow is the more resilient..Nasdaq is lagging again....
Gold UP $3.60
Oil down $1.44
Canadian $ UP 1.04 cent to 96.02 cents US for 1 CAD..Canadian economy created 108,700 jobs vs expectations of 25,000 jobs..this is the highest job creation since Statistics Canada started tracking in 1976....
Job report in US was also better than consensus 290K vs expectations of around 200k......
In my portfolio :
Sold TSL
Portfolio is CIEN,CRUS,RFMD,TER.....
@ 12.25 following are green :
SOL,WDC,MRVL,POT,TCK,MS,GS,CSIQ,
IBN,TC,QID,VXX,PMCS,X,AGU,SOLF,GNK,
RCI,FMCN,LULU,FSLR,LDK.
BLOG does NOT give buy or sell.
Saleem
Gold UP $3.60
Oil down $1.44
Canadian $ UP 1.04 cent to 96.02 cents US for 1 CAD..Canadian economy created 108,700 jobs vs expectations of 25,000 jobs..this is the highest job creation since Statistics Canada started tracking in 1976....
Job report in US was also better than consensus 290K vs expectations of around 200k......
In my portfolio :
Sold TSL
Portfolio is CIEN,CRUS,RFMD,TER.....
@ 12.25 following are green :
SOL,WDC,MRVL,POT,TCK,MS,GS,CSIQ,
IBN,TC,QID,VXX,PMCS,X,AGU,SOLF,GNK,
RCI,FMCN,LULU,FSLR,LDK.
BLOG does NOT give buy or sell.
Saleem
Thursday, May 6, 2010
Market manipulation went into overdrive.......
Today was a classic case of "group of well heeled traders getting very greedy".....
Market was manipulated to the 9's.....
Explanation given is almost "childish"
One lonely trader could not tell the difference between "a billion & a million" but is authorized to trade billions without any supervision......????
NYSE & Nasdaq are "too embarrassed to allow this to happen in such an organized manner"..so they are cancelling all the trades for that manipulated window...
I personally believe this is another case of "hush hush & wink wink approach"
Many pundits are claiming that today was NOT a capitulation & telling everyone to sell & NOT buy stocks until they give all clear......
Prices are extremely attractive for aggressive buying....
RSI has come down to the lowest level of early Feb as listed below :
Nasdaq 33.01
S&P 500 33.37
Dow 33.41
Investing & swing trading should be done @ current low low prices.......
This whole mayhem was nothing but a full fledged correction which has run its course...Greece, Spain , Portugal,Italy & Ireland Debt was the catalyst for this correction.....those are all "minor economies" which will NOT take world economies down......this is PUNY compared to financial mess we faced in 08.....
YES..once we start going UP as we have exhausted all the selling.....we will hear that Greece is NOT a problem anymore ????
AH Futures are GREEN
AH Asian markets are taking their turn in selling but Hang Seng MAY turn green......& Shanghai also down 1%...so "no supercomputers manipulation going on in Asia"
AH Oil,Gold,Silver UP....
BLOG does NOT give buy or sell.
Saleem
Market was manipulated to the 9's.....
Explanation given is almost "childish"
One lonely trader could not tell the difference between "a billion & a million" but is authorized to trade billions without any supervision......????
NYSE & Nasdaq are "too embarrassed to allow this to happen in such an organized manner"..so they are cancelling all the trades for that manipulated window...
I personally believe this is another case of "hush hush & wink wink approach"
Many pundits are claiming that today was NOT a capitulation & telling everyone to sell & NOT buy stocks until they give all clear......
Prices are extremely attractive for aggressive buying....
RSI has come down to the lowest level of early Feb as listed below :
Nasdaq 33.01
S&P 500 33.37
Dow 33.41
Investing & swing trading should be done @ current low low prices.......
This whole mayhem was nothing but a full fledged correction which has run its course...Greece, Spain , Portugal,Italy & Ireland Debt was the catalyst for this correction.....those are all "minor economies" which will NOT take world economies down......this is PUNY compared to financial mess we faced in 08.....
YES..once we start going UP as we have exhausted all the selling.....we will hear that Greece is NOT a problem anymore ????
AH Futures are GREEN
AH Asian markets are taking their turn in selling but Hang Seng MAY turn green......& Shanghai also down 1%...so "no supercomputers manipulation going on in Asia"
AH Oil,Gold,Silver UP....
BLOG does NOT give buy or sell.
Saleem
Indices Down for third day from .64% to .91%.....
Indices are getting crushed again.....thanks to European issues.....
Dow is trying for a comeback & is the healthier of all indices.....Dow went below 50 DMA again but is trying to work its way to 50 DMA......IF Dow moves above 50 DMA @ close ...then we have completed this correction.....YES this was a correction..nothing more nothing less...ONLY reasons keeps CHANGING.......
RSI currently are as follows :
Nasdaq 38.89..low in Feb 33 area
S&P 500 39.41..low in Feb 32 area
Dow 41.28....low in Feb 32 area
As we all KNOW that market CAN turn around very quickly.....currently it IS a great buying opportunity.....Market is low enough to start buying.....Today is definitely not the day to sell....
It is almost IMPOSSIBLE to know/predict exact low either in markets or stocks.....
Gold UP $11.00
Oil Down $1.30
Canadian $ Down 1.39 cent to 95.69 US for 1 CAD
Portfolio is CRUS,CIEN,RFMD,TER,TSL.......
Solar stocks are taking it on the chin as Euro is @ another low which affects Solar earnings..but it is more than discounted today?????
Most stocks are down
BLOG does NOT give buy or sell.
Saleem
Dow is trying for a comeback & is the healthier of all indices.....Dow went below 50 DMA again but is trying to work its way to 50 DMA......IF Dow moves above 50 DMA @ close ...then we have completed this correction.....YES this was a correction..nothing more nothing less...ONLY reasons keeps CHANGING.......
RSI currently are as follows :
Nasdaq 38.89..low in Feb 33 area
S&P 500 39.41..low in Feb 32 area
Dow 41.28....low in Feb 32 area
As we all KNOW that market CAN turn around very quickly.....currently it IS a great buying opportunity.....Market is low enough to start buying.....Today is definitely not the day to sell....
It is almost IMPOSSIBLE to know/predict exact low either in markets or stocks.....
Gold UP $11.00
Oil Down $1.30
Canadian $ Down 1.39 cent to 95.69 US for 1 CAD
Portfolio is CRUS,CIEN,RFMD,TER,TSL.......
Solar stocks are taking it on the chin as Euro is @ another low which affects Solar earnings..but it is more than discounted today?????
Most stocks are down
BLOG does NOT give buy or sell.
Saleem
Wednesday, May 5, 2010
S&P 500 & Nasdaq closed below 50 DMA.....
S&P 500 & Nasdaq closed below 50 DMA while Dow closed above......
Dow MAY be leading other indices into technical health....
Today's close was NOT as bad as it could have been.....
There was lot of selling into open & many stocks dropped to its support level...
Technically strong stocks bounced back nicely into minor loss or some mustered even green close....
Today's TAPE is giving lot of hope for a green close on Thursday......
RSI @ close has reached deeply oversold levels as listed below:
Nasdaq 41.83
S&P 500 42.51
Dow 44.44
VIX closed UP 4.49% to 24.91...upper end of range...means overbought ????
AH JDSU ER was a miss on revenue ....Stock down AH 8.10% in AH volume of 1.44 million
AH Futures are green
AH Nikkei Down..catching up as they were closed for last 2 days....
AH all Asian market are down..will not be surprised to see green by close...
AH Oil,Gold,Silver UP
BLOG does NOT give buy or sell.
Saleem
Dow MAY be leading other indices into technical health....
Today's close was NOT as bad as it could have been.....
There was lot of selling into open & many stocks dropped to its support level...
Technically strong stocks bounced back nicely into minor loss or some mustered even green close....
Today's TAPE is giving lot of hope for a green close on Thursday......
RSI @ close has reached deeply oversold levels as listed below:
Nasdaq 41.83
S&P 500 42.51
Dow 44.44
VIX closed UP 4.49% to 24.91...upper end of range...means overbought ????
AH JDSU ER was a miss on revenue ....Stock down AH 8.10% in AH volume of 1.44 million
AH Futures are green
AH Nikkei Down..catching up as they were closed for last 2 days....
AH all Asian market are down..will not be surprised to see green by close...
AH Oil,Gold,Silver UP
BLOG does NOT give buy or sell.
Saleem
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