Markets went Red on all indices after GREEN open......then back UP to green area !!!!
Was that deep red today was a RETEST of support /double bottom or more pain to follow...hard to tell in this WEAK economic environment.....
It will be WISE to stay in the market than out....in solid high growth companies.....trust me they DO EXIST......
S&P 500 low today was 1252.01 lower than 52 week low of 1256.98?????
In my portfolio :
SOL Down 22 cents after being down another $1.68 to $12.02 ?????
AAPL UP $2.73
@ 11.45 AM the following on my watch list are green :
DRYS,RIMM,JNPR,JASO,TKC,YHOO,WYNN,BIDU,
SOHU,SPWR,FSLR,ISRG,SONY,AMZN,GOOG,GS,
STP,X.
BLOG does NOT give buy or sell.
Saleem
Thursday, July 3, 2008
Europe hikes rate,Job loss 62K ..US$ & Futures UP $$$$
We got stream of news from Europe & US....
ECB hikes rate by .25%...
Job loss in US 62,000.....
Job losses revised UP for May....
Unemployment claims UP....
So what IS the effect of all of the above in markets:
US$ UP
Futures UP
Why...????
ECB rate increase was already in the US$ & Markets & Job loss came as expected......
As markets were deeply OVERSOLD.....so we move UP today !!!!
"GREEN IS GOOD"
BLOG does NOT give buy or sell.
Saleem
ECB hikes rate by .25%...
Job loss in US 62,000.....
Job losses revised UP for May....
Unemployment claims UP....
So what IS the effect of all of the above in markets:
US$ UP
Futures UP
Why...????
ECB rate increase was already in the US$ & Markets & Job loss came as expected......
As markets were deeply OVERSOLD.....so we move UP today !!!!
"GREEN IS GOOD"
BLOG does NOT give buy or sell.
Saleem
Wednesday, July 2, 2008
Dow & Nasdaq in "bear market"......
Dow & NASDAQ succumbed to relentless selling by closing in "bear market"
This is NOT a good news.......
This means that we go lot LOWER ...Dow 10,000 area CAN be a reality......
I MAY start a different strategy....I MAY sell into ANY RALLY......
In my portfolio :
AAPL rating 60/85 target $182.25
SOL rating 80/95 target $18.87
Today was a major CRACK in steel,Coal,Ag,Oil,Gas stocks.....a sign that we MAY have started a bottoming process......
NVDA warned AH down almost $5.....
BLOG does NOT give buy or sell.
Saleem
This is NOT a good news.......
This means that we go lot LOWER ...Dow 10,000 area CAN be a reality......
I MAY start a different strategy....I MAY sell into ANY RALLY......
In my portfolio :
AAPL rating 60/85 target $182.25
SOL rating 80/95 target $18.87
Today was a major CRACK in steel,Coal,Ag,Oil,Gas stocks.....a sign that we MAY have started a bottoming process......
NVDA warned AH down almost $5.....
BLOG does NOT give buy or sell.
Saleem
Markets are all RED...Thanks Mr Paulson for highlighting weakness all over !!!......
Markets were doing FINE until Mr Paulson released a statement highlighting weakness in US,UK & Europe....so Markets went RED.......
Markets "tone is OK considering it is July 4th holiday week"
@ least market IS trying to HOLD.......
In my portfolio :
Sold MRVL & booked A gain of $1.28 per share......
Bought AAPL @ $173.....in anticipation of July 11 launch of iphone worldwide......
My portfolio is SOL & AAPL......
SOL Down $1.65...SOL has traded 3+ million shares in two hours and IS trying to form a base around here in $14 area.....
AAPL Down 65 cents...I am UP $1
@ 11.21 AM the following are green in my watch list :
VMW,POT,YHOO,CCJ,WYNN,BIDU,NMX,SNDK,GS,
IFN,SAY,NCTY.
BLOG does NOT give buy or sell.
Saleem
Markets "tone is OK considering it is July 4th holiday week"
@ least market IS trying to HOLD.......
In my portfolio :
Sold MRVL & booked A gain of $1.28 per share......
Bought AAPL @ $173.....in anticipation of July 11 launch of iphone worldwide......
My portfolio is SOL & AAPL......
SOL Down $1.65...SOL has traded 3+ million shares in two hours and IS trying to form a base around here in $14 area.....
AAPL Down 65 cents...I am UP $1
@ 11.21 AM the following are green in my watch list :
VMW,POT,YHOO,CCJ,WYNN,BIDU,NMX,SNDK,GS,
IFN,SAY,NCTY.
BLOG does NOT give buy or sell.
Saleem
Tuesday, July 1, 2008
Market goes down then UP then down finally closed SMALL green!!!
Today was a classic bottom forming tape action.....sellers are exhausted and buyers are afraid to MISS the bottom...so a tug of war of sellers & buyers in equilibrium.....with a touch of green @ close.....
Decliners held a comfortable lead over advancing stocks.....
Almost 500 new 52 week lows on both NYSE & NASDAQ...sign of oversold conditions....
Some techs Like AAPL,RIMM,LRCX,QCOM & home builder TOL were strong.....
Even Financials came along for the ride UP...which is the strongest SIGN that we MAY have finally hit the LOWS in indices......These are the lowest point today :
DOW 11183.43
NASDAQ 2259.79
S&P 500 1260.68
In my portfolio :
Added 10% more SOL...cost went down to $21.66
Portfolio is MRVL & SOL......
So what IS going on in Solar stocks.......My guess IS that there IS a very organized hedge fund manipulation going on to accumulate lot of shares @ LOW LOW LOW prices......
Why do I say that......????
Today GS downgraded TSL to "conviction SELL"..but it went as low as $27.65 on 2.1 million shares only ..but it closed @ $29.28 only 4.4% down...it was the-best performing Chinese Solar today?????Was GS looking to accumulate TSL shares with a SELL rating?????
Today also Motley Fools came up with a Negative Solar piece @ 2.20PM highlighting the same points which GS used in their thesis for a sell on TSL....Cash flow & financing issues...SOL has neither because they just completed $187 million secondary @ $20.50......????
By analyzing LDK,CSIQ,SOL,JASO,SOLF,STP...they are all hitting long term support area TODAY????.....
SOL volume was slightly higher than normal.......
I personally like to believe that Solar stocks have hit BOTTOM support area.......which SHOULD be evident by wed close?????
BLOG does NOT give buy or sell.
PS.....Today was Canada DAY which is on July 1st....so Toronto markets were closed !!!
Saleem
Decliners held a comfortable lead over advancing stocks.....
Almost 500 new 52 week lows on both NYSE & NASDAQ...sign of oversold conditions....
Some techs Like AAPL,RIMM,LRCX,QCOM & home builder TOL were strong.....
Even Financials came along for the ride UP...which is the strongest SIGN that we MAY have finally hit the LOWS in indices......These are the lowest point today :
DOW 11183.43
NASDAQ 2259.79
S&P 500 1260.68
In my portfolio :
Added 10% more SOL...cost went down to $21.66
Portfolio is MRVL & SOL......
So what IS going on in Solar stocks.......My guess IS that there IS a very organized hedge fund manipulation going on to accumulate lot of shares @ LOW LOW LOW prices......
Why do I say that......????
Today GS downgraded TSL to "conviction SELL"..but it went as low as $27.65 on 2.1 million shares only ..but it closed @ $29.28 only 4.4% down...it was the-best performing Chinese Solar today?????Was GS looking to accumulate TSL shares with a SELL rating?????
Today also Motley Fools came up with a Negative Solar piece @ 2.20PM highlighting the same points which GS used in their thesis for a sell on TSL....Cash flow & financing issues...SOL has neither because they just completed $187 million secondary @ $20.50......????
By analyzing LDK,CSIQ,SOL,JASO,SOLF,STP...they are all hitting long term support area TODAY????.....
SOL volume was slightly higher than normal.......
I personally like to believe that Solar stocks have hit BOTTOM support area.......which SHOULD be evident by wed close?????
BLOG does NOT give buy or sell.
PS.....Today was Canada DAY which is on July 1st....so Toronto markets were closed !!!
Saleem
Markets went DOWN & coming right back UP...what else IS new ???
Markets are showing classic "deeply oversold conditions"
Markets were looking for "any excuse to make a bottom"
ISM provided that "excuse"
Data has been "negative for a long time"....so a bounce UP in DATA is INEVITABLE......
AAPL,RIMM showing strong leadership today after testing their "support".....
Markets will "continue to do...what it NEEDS to do"...but stock selection IS key in any market!!!
In my portfolio :
MRVL Up 2 cents
SOL Down 75 cents
@ 11.18 AM the following stocks on my watch list are green :
AAPL,RIMM,TOL,BRCD,ICE,LRCX,NVLS,BIDU,
ABX,GOOG,FWLT,QLD,GS.
BLOG does NOT give buy or sell.
Saleem
Markets were looking for "any excuse to make a bottom"
ISM provided that "excuse"
Data has been "negative for a long time"....so a bounce UP in DATA is INEVITABLE......
AAPL,RIMM showing strong leadership today after testing their "support".....
Markets will "continue to do...what it NEEDS to do"...but stock selection IS key in any market!!!
In my portfolio :
MRVL Up 2 cents
SOL Down 75 cents
@ 11.18 AM the following stocks on my watch list are green :
AAPL,RIMM,TOL,BRCD,ICE,LRCX,NVLS,BIDU,
ABX,GOOG,FWLT,QLD,GS.
BLOG does NOT give buy or sell.
Saleem
Markets are bracing for CAPITULATION/TURNAROUND tuesday???
Markets are all set to take the LOWS out...whether it is INTRADAY LOW or CLOSING low..that wil be determined today........
Most world markets are showing 9 day losing streak......is this a sign of close to bottom or further trouble on the way?????
As I always say ...Markets go UP & Markets go DOWN.....BUT it IS the stock selection that matters.....
So.... today IS another day to look @ your portfolio and see if you are comfortable with all of them....IF NOT...then REBALANCE with good quality stocks @ fire sale !!!!
I am NOT planning to do anything with my two stocks MRVL & SOL........
If you have all the right stocks...then sit back and do NOTHING......
It IS extremely difficult to TIME the markets...I do NOT even TRY IT !!!!
I always look @ RISK/REWARD ratio...it is very compelling in my opinion !!!
BLOG does NOT give buy or sell.
Saleem
Most world markets are showing 9 day losing streak......is this a sign of close to bottom or further trouble on the way?????
As I always say ...Markets go UP & Markets go DOWN.....BUT it IS the stock selection that matters.....
So.... today IS another day to look @ your portfolio and see if you are comfortable with all of them....IF NOT...then REBALANCE with good quality stocks @ fire sale !!!!
I am NOT planning to do anything with my two stocks MRVL & SOL........
If you have all the right stocks...then sit back and do NOTHING......
It IS extremely difficult to TIME the markets...I do NOT even TRY IT !!!!
I always look @ RISK/REWARD ratio...it is very compelling in my opinion !!!
BLOG does NOT give buy or sell.
Saleem
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