Markets are pulling back in a very orderly manner.....
Most of the "overbought sectors are pulling back"
Guess ...which sectors were "overbought"......
Retails,homebuilders & financials.......
This is NOT a market to CHASE yesterday's winners........
There are too many sectors which have been "oversold"...which needs to be bought.....
Markets go UP & markets go DOWN.......but...you make money with "individual stocks which are READY to move UP......irrespective of the markets"
Also it IS important to RIDE it UP until stock stalls......so knowing TAPE action is very "critical"
Serious money is always made with CONVICTION..........
In my portfolio :
I bought SOLF (deeply oversold) in pre-market....cost me too much in commission $65 for this buy...my cost $17.05.....even with hefty TD Waterhouse rate......
SOLF was rated for "breakout" @ $16.72......with immediate target of $20.06.....UP $1.66 to $18.37........
AAPL UP 68 cents...
AGU down 28 cents...
AKNS UP 51 cents....
BX Up 24 cents ...inspite of a hatchet job by our beloved Barrons over the weekend..why it IS not tanking to $15 as predicted by Barrons......one word "oversold"????
CSIQ now has a confirmed breakout UP $1.81......
LDK UP $1.70.....
MA UP $2.87..breakout point $221.40 with a target of $242.30...it exceeded breakout point this AM and went to $222.25.....
UEX.TO down 7 cents....
@ 11.27 AM the following are green :
RIMM,BIDU,CMED,TSL,VMW,SIRF(ER AH),ICE,POT,YHOO,CTRP,
SOHU(ER AH),NYX,NMX,SPWR,FSLR,ISRG,AMZN,IFN,EWY,STP,
JASO,NTRI.
Good luck on recovery in markets !!!!
BLOG does NOT give buy or sell.
Saleem
Monday, February 4, 2008
Sunday, February 3, 2008
Markets Myth & Reality !!!!!
Lot of investors were stunned @ the freefall in the markets........
Markets are normally prime for corrections @ any stage......
Corrections are generally of 3% to 7% from any recent peak.....
Markets are NEVER all clear...EVER !!!!!
Most investors/traders have this "illusion that they CAN beat the market"
Smart trader KNOW "not to fight the tape"......
Tape is always giving "signal about the NEW strong sectors"
So.....as an investors/traders.....you are left with few choices......
One.....understand the current environment.......and DO the homework accordingly.....
In that homework...one has to understand that NO organization will save you from the CARNAGE......whether it is IBD,Dan Zanger,IH,Fools,CNBC & our life savers all trusted all KNOWING message Boards/BLOGS........
So in the END it is your OWN comfort level & CONVICTION which matters.......
Too many people are looking for "instant analysis without doing their OWN homework"
If you ARE afraid of the current tape......it is NOT going to go away anytime SOON......
I still think...April will give US the FIRST indication of how deep US slowdown IS......and how deep the writeoffs ARE.......
So....How FAR this rally from bottom will go.......?????
You think anyone KNOWS ????
I do NOT believe so.......
Let me quote some PUNDITS first :
Art Cashin of UBS said..."this rally has gone lot Farther than what he thought"
Jimmy the Cramer said...."we have hit the bottom"
Fast Money crowd....is GIDDY now..& giving the impression that "everything IS a BUY"
IBD says 100% cash.....
So where do I stand in the middle of "newborn EUPHORIA"......
CAUTIOUS is the word.......
I am positioning to TRADE OUT of many positions in the coming days......
So it WILL be quick IN & OUT for me......with less exposure AGAIN......
WHY ????........
I feel we are having a healthy RUNUP and we MAY stall @ some point ........
I feel THEN...it is going to give US a pullback of 3% to 6%........!!!!!
I am NOT implying that all sectors will pull back...but some overbought WILL......
So...by reducing EXPOSURE......I am hoping to benefit from ongoing or renewed strength in beaten down stocks......
I am anticipating an ongoing ROTATION on a DAILY basis ...which will be driven by NEWS !!!
Lot of stocks have been trashed....so a longer term view is PRUDENT......
In plain english ...I will be keeping majority of my positions...but WILL lock profit in some & thus reduce exposure.......
As usual I will be posting all my trades.
If you have a long term view ...this is a very good time to keep accumulating for 2009 GAINS !!!
KNOW the difference between "overbought & oversold".....that is the KEYWORD for both stocks & markets !!!
BLOG does NOT give buy or sell.
Enjoy your sunday!!!
Saleem
Markets are normally prime for corrections @ any stage......
Corrections are generally of 3% to 7% from any recent peak.....
Markets are NEVER all clear...EVER !!!!!
Most investors/traders have this "illusion that they CAN beat the market"
Smart trader KNOW "not to fight the tape"......
Tape is always giving "signal about the NEW strong sectors"
So.....as an investors/traders.....you are left with few choices......
One.....understand the current environment.......and DO the homework accordingly.....
In that homework...one has to understand that NO organization will save you from the CARNAGE......whether it is IBD,Dan Zanger,IH,Fools,CNBC & our life savers all trusted all KNOWING message Boards/BLOGS........
So in the END it is your OWN comfort level & CONVICTION which matters.......
Too many people are looking for "instant analysis without doing their OWN homework"
If you ARE afraid of the current tape......it is NOT going to go away anytime SOON......
I still think...April will give US the FIRST indication of how deep US slowdown IS......and how deep the writeoffs ARE.......
So....How FAR this rally from bottom will go.......?????
You think anyone KNOWS ????
I do NOT believe so.......
Let me quote some PUNDITS first :
Art Cashin of UBS said..."this rally has gone lot Farther than what he thought"
Jimmy the Cramer said...."we have hit the bottom"
Fast Money crowd....is GIDDY now..& giving the impression that "everything IS a BUY"
IBD says 100% cash.....
So where do I stand in the middle of "newborn EUPHORIA"......
CAUTIOUS is the word.......
I am positioning to TRADE OUT of many positions in the coming days......
So it WILL be quick IN & OUT for me......with less exposure AGAIN......
WHY ????........
I feel we are having a healthy RUNUP and we MAY stall @ some point ........
I feel THEN...it is going to give US a pullback of 3% to 6%........!!!!!
I am NOT implying that all sectors will pull back...but some overbought WILL......
So...by reducing EXPOSURE......I am hoping to benefit from ongoing or renewed strength in beaten down stocks......
I am anticipating an ongoing ROTATION on a DAILY basis ...which will be driven by NEWS !!!
Lot of stocks have been trashed....so a longer term view is PRUDENT......
In plain english ...I will be keeping majority of my positions...but WILL lock profit in some & thus reduce exposure.......
As usual I will be posting all my trades.
If you have a long term view ...this is a very good time to keep accumulating for 2009 GAINS !!!
KNOW the difference between "overbought & oversold".....that is the KEYWORD for both stocks & markets !!!
BLOG does NOT give buy or sell.
Enjoy your sunday!!!
Saleem
Saturday, February 2, 2008
MOMENTUM stocks for Fed induced 2008 RUNUP $$$
The following stocks are showing momentum based on recent tape.Please check FA and manage risk properly by using stop.
BFIN,DCOM,KBALB,RATE,TMX,CEDC,CETV,AKF,AG,
AGU,BG,MOT,SU,UPL,TTM,RHT,CTRN,EMKR,OTEX,
SIFY,TZOO,XLNX,ISRG,CROX,CELG,CM,EL,IYG,IYR,
IJJ,IJR,IJS,IMB,MA,NOK,RTP,RY,BHP,DAL,LDG,WAG,
WDC,MRVL,ACH,EXC,HDB,VIP.
Next post 10AM sunday.
BLOG does NOT give buy or sell.
Saleem
BFIN,DCOM,KBALB,RATE,TMX,CEDC,CETV,AKF,AG,
AGU,BG,MOT,SU,UPL,TTM,RHT,CTRN,EMKR,OTEX,
SIFY,TZOO,XLNX,ISRG,CROX,CELG,CM,EL,IYG,IYR,
IJJ,IJR,IJS,IMB,MA,NOK,RTP,RY,BHP,DAL,LDG,WAG,
WDC,MRVL,ACH,EXC,HDB,VIP.
Next post 10AM sunday.
BLOG does NOT give buy or sell.
Saleem
Technically STRONG stocks for Fed induced 2008 RUNUP $$$
The following stocks are showing technical strength based on various formations.Please check FA and use stop to limit loss.
UST,ACH,SNDK,SFI,FNM,SYMC,JBX,MAR,DFS,DSX,JRCC,LXK,
CBHI,BIG,CORS,FDO,ONNN,JWN,ICO,WHQ,SWIR,TRN,PHRM,
XIDE,NSR,SVVS,SAFM.
TSX ( Toronto Stock Exchange)
S,T,LB,CM,HSE,IOL,TCM.
BLOG does NOT give buy or sell.
Saleem
UST,ACH,SNDK,SFI,FNM,SYMC,JBX,MAR,DFS,DSX,JRCC,LXK,
CBHI,BIG,CORS,FDO,ONNN,JWN,ICO,WHQ,SWIR,TRN,PHRM,
XIDE,NSR,SVVS,SAFM.
TSX ( Toronto Stock Exchange)
S,T,LB,CM,HSE,IOL,TCM.
BLOG does NOT give buy or sell.
Saleem
Technically WEAK stocks for Fed induced 2008 RUNUP $$$
The following stocks are showing technical weakness based on various formations.Please check FA and limit your loss by using stop.
DNDN,IMA,AMAG,HTCH,KNDL,ATVI,CVTX,ABAX,OMCL.
TSX (Toronto Stock Exchange)
NG,GNA.
BLOG does NOT give buy or sell.
Saleem
DNDN,IMA,AMAG,HTCH,KNDL,ATVI,CVTX,ABAX,OMCL.
TSX (Toronto Stock Exchange)
NG,GNA.
BLOG does NOT give buy or sell.
Saleem
Friday, February 1, 2008
Market had best weekly gain since 2003..UP 4% on Dow / S&P 500
What a difference a week makes on wall street........
Till 11 am today...nobody was sure which way markets will go..as markets were reeling from negative jobs report..........
Then we started to overcome negativity and started to gradually climb UP......closing UP 1.22% on S&P 500......
I do know that many of us ...got beat up financially & emotionally...our confidence in stock picking is badly shaken.......
We have suffered since October...when markets started to turn against us...then it turned into tidal wave of bad news since december...then january became a nightmare........
So....it is feb now ....markets are looking surprisingly healthy...thanks to Fed & white house decisive actions.......
We are all exhausted with this market and need this weekend to recover from our emotional roller coaster trauma.......
I sincerely hope that I was able to give daily analysis which gave you some idea ...what we were facing.....day after day.......
Please dedicate quality time away from wall street induced stress and try to get away to whatever pastime you enjoy........
By 10 AM saturday I will be posting list of technically weak/strong & momentum stocks.......
Saleem
Till 11 am today...nobody was sure which way markets will go..as markets were reeling from negative jobs report..........
Then we started to overcome negativity and started to gradually climb UP......closing UP 1.22% on S&P 500......
I do know that many of us ...got beat up financially & emotionally...our confidence in stock picking is badly shaken.......
We have suffered since October...when markets started to turn against us...then it turned into tidal wave of bad news since december...then january became a nightmare........
So....it is feb now ....markets are looking surprisingly healthy...thanks to Fed & white house decisive actions.......
We are all exhausted with this market and need this weekend to recover from our emotional roller coaster trauma.......
I sincerely hope that I was able to give daily analysis which gave you some idea ...what we were facing.....day after day.......
Please dedicate quality time away from wall street induced stress and try to get away to whatever pastime you enjoy........
By 10 AM saturday I will be posting list of technically weak/strong & momentum stocks.......
Saleem
Markets digesting "awful jobs numbers"
GOOG lousy numbers were sinking futures whole night.......then @ 6.45 AM came MSFT buyout offer of YHOO...so futures went UP 100+ on dow.....but that celebration lasted only till 830AM...then came the worst job numbers since 2003.......
Jobs declined by 17,000 ........an extremely slow economy "snapshot"......
MSFT offer is a major boost not only to long suffering YHOO stockholders which includes my brother who has been holding YHOO shares for 3 years @ higher than buyout offer...but this is a major vote of confidence for battered tech sector.....which is DOWN in bearish territory.......
Considering lousy jobs data.......markets are showing every sign of NOT rolling over......
Market hedgies are definitely betting on long side NOW...as they see value compelling.....thank goodness for this CHANGE !!!!
In my portfolio :
I bought BX today...as it IS trading 40% BELOW IPO price......it is one financial which is NEAR LOW since IPO...my cost $18.43......
BX UP 10 cents.......... !!!
AAPL down $1.60...
AGU UP 41 cents....
AKNS UP 11 cents....
CSIQ UP 44 cents...
LDK UP 75 cents....
MA UP $5.78.......
UEX.TO UP 4 cents.....
@ 11.31 AM the following are green :
GS,SNDK,AMAT,SIRF (reports AH monday),YHOO (bid of $31 cash+stock),
POT,IGT,CTRP,SOHU,CMED,WYN,NVDA,NYX,SPWR,ISRG (blowout ER),
WFR,IFN,FWLT,STP,LRCX,INFY,MR,JASO,SWIR,EBAY.
Decliners includes...GOOG,RIMM,BIDU,NMX,MSFT........
A well diversified portfolio will fare much better than a concentrated position in this sector rotation market........Patience & conviction is mandatory
BLOG does NOT give buy or sell.
Saleem
Jobs declined by 17,000 ........an extremely slow economy "snapshot"......
MSFT offer is a major boost not only to long suffering YHOO stockholders which includes my brother who has been holding YHOO shares for 3 years @ higher than buyout offer...but this is a major vote of confidence for battered tech sector.....which is DOWN in bearish territory.......
Considering lousy jobs data.......markets are showing every sign of NOT rolling over......
Market hedgies are definitely betting on long side NOW...as they see value compelling.....thank goodness for this CHANGE !!!!
In my portfolio :
I bought BX today...as it IS trading 40% BELOW IPO price......it is one financial which is NEAR LOW since IPO...my cost $18.43......
BX UP 10 cents.......... !!!
AAPL down $1.60...
AGU UP 41 cents....
AKNS UP 11 cents....
CSIQ UP 44 cents...
LDK UP 75 cents....
MA UP $5.78.......
UEX.TO UP 4 cents.....
@ 11.31 AM the following are green :
GS,SNDK,AMAT,SIRF (reports AH monday),YHOO (bid of $31 cash+stock),
POT,IGT,CTRP,SOHU,CMED,WYN,NVDA,NYX,SPWR,ISRG (blowout ER),
WFR,IFN,FWLT,STP,LRCX,INFY,MR,JASO,SWIR,EBAY.
Decliners includes...GOOG,RIMM,BIDU,NMX,MSFT........
A well diversified portfolio will fare much better than a concentrated position in this sector rotation market........Patience & conviction is mandatory
BLOG does NOT give buy or sell.
Saleem
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