Nasdaq was the lone index making another high....
Dow & S&P 500 closed slightly red......
Gold closed @ $1123.60
Oil closed @ $81.47
Canadian $ closed @ 52 wk high @ 97.36 US for 1 CAD......
Strong stocks UP 3% or more included :
RIMM,RVBD,LVS,X......
AH TXN updated its Q1 outlook to in-line with consensus..AH stock down 23 cents in AH volume of 1.76 million.....
AH futures are RED......
AH Nikkei & Shanghai Down
AH Gold ,Silver & Oil down....
BLOG does NOT give buy or sell.
Saleem
Monday, March 8, 2010
Nasdaq continues its "higher HIGHS"...NICE !!!!
Nasdaq is leading other indices this morning..its UP into higher grounds ...S&P & Dow are digesting gains are currently in negative......
Gold Down $13.60
Oil Down 71 cents
Canadian $ near unchanged level
Portfolio is APWR,IAG,PALM,SLW......
APWR went below 200 DMA of $12.22 on heavy volume.....technical selling triggered .....Capitulation finally????
@ 12.19 following are green :
RIMM,SOHU,PWRD,SINA,NTES,BIDU,GS,MA,V,
NDN,M,LVS,X,AMZN,POT,ASIA,RVBD,FMCN,SNDA,
WYNN.....
BLOG does NOT give buy or sell.
Saleem
Gold Down $13.60
Oil Down 71 cents
Canadian $ near unchanged level
Portfolio is APWR,IAG,PALM,SLW......
APWR went below 200 DMA of $12.22 on heavy volume.....technical selling triggered .....Capitulation finally????
@ 12.19 following are green :
RIMM,SOHU,PWRD,SINA,NTES,BIDU,GS,MA,V,
NDN,M,LVS,X,AMZN,POT,ASIA,RVBD,FMCN,SNDA,
WYNN.....
BLOG does NOT give buy or sell.
Saleem
Sunday, March 7, 2010
Is market going in an "overdrive mode" ?????
Friday's close near high of the day & Nasdaq high of the year close...is giving a "technical breakout"......
Momentum traders will run this market towards new highs in all Indices......
1200 area in S&P 500..looks like a "real possibility"
Markets will get "overbought" in this RUNUP.......
Currently RSI are as follows :
Dow 63.34
S&P 500 66.04
Nasdaq 69.72
In last four months Nasdaq RSI has runup to 75 area...then a major pullback......so traders should keep this in their trading strategy......other Indices barely touched 70 then pulled back.....
VIX also getting close to 52 week low which is 16.86..currently we are @ 17.42......YES..VIX could go below 16.86 ...but again monitor this closely for locking profits....
SO.....what is a good strategy now......
Consider locking profit.......
IF you are a long-term investor...then there is nothing to do.....stay in stronger stocks in diversified sectors.....some speculative stock may not be a bad idea........
It will be PRUDENT to REDUCE exposure once we cross 1160 in S&P 500.......
After every euphoric move......there is a long digestive process...could be until next "oversold" conditions arrive.....
Oversold conditions are defined as when RSI is between 35 to 45 area based on last 4 months RSI stat....
Locking profit when RSI in your stocks are @ 70 area is a "very safe strategy".....sometimes stocks do hit RSI 80 on momentum alone????
Here is my $ allocation/sector/RSI current/RSI high
APWR 31.26% AE/Wind Turbines 43.29 82.00
IAG 25.53% Gold Mining 57.47 72.00
PALM 22.42% Tech/Smartphone 20.79 68.00
SLW 20.79% Silver reseller 54.00 68.00
My portfolio has underperformed lately due to many losing position.....APWR,PALM has been subjected to major "bear attack"......it is NOT good to have 53% of portfolio going South..while market is going North.....so..i wait till they "turnaround"..Patience has become a strategy......
Please do analyze your portfolio based on any technical indicators you have expertise in......markets CAN go in the wrong direction very quickly.....there IS such a thing as overbought & oversold........
BLOG does NOT give buy or sell.
Saleem
Momentum traders will run this market towards new highs in all Indices......
1200 area in S&P 500..looks like a "real possibility"
Markets will get "overbought" in this RUNUP.......
Currently RSI are as follows :
Dow 63.34
S&P 500 66.04
Nasdaq 69.72
In last four months Nasdaq RSI has runup to 75 area...then a major pullback......so traders should keep this in their trading strategy......other Indices barely touched 70 then pulled back.....
VIX also getting close to 52 week low which is 16.86..currently we are @ 17.42......YES..VIX could go below 16.86 ...but again monitor this closely for locking profits....
SO.....what is a good strategy now......
Consider locking profit.......
IF you are a long-term investor...then there is nothing to do.....stay in stronger stocks in diversified sectors.....some speculative stock may not be a bad idea........
It will be PRUDENT to REDUCE exposure once we cross 1160 in S&P 500.......
After every euphoric move......there is a long digestive process...could be until next "oversold" conditions arrive.....
Oversold conditions are defined as when RSI is between 35 to 45 area based on last 4 months RSI stat....
Locking profit when RSI in your stocks are @ 70 area is a "very safe strategy".....sometimes stocks do hit RSI 80 on momentum alone????
Here is my $ allocation/sector/RSI current/RSI high
APWR 31.26% AE/Wind Turbines 43.29 82.00
IAG 25.53% Gold Mining 57.47 72.00
PALM 22.42% Tech/Smartphone 20.79 68.00
SLW 20.79% Silver reseller 54.00 68.00
My portfolio has underperformed lately due to many losing position.....APWR,PALM has been subjected to major "bear attack"......it is NOT good to have 53% of portfolio going South..while market is going North.....so..i wait till they "turnaround"..Patience has become a strategy......
Please do analyze your portfolio based on any technical indicators you have expertise in......markets CAN go in the wrong direction very quickly.....there IS such a thing as overbought & oversold........
BLOG does NOT give buy or sell.
Saleem
Saturday, March 6, 2010
Buy rated stocks.....
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
SLW,IAG,PRGN,CETV,LVS,PLA,FWLT,AMTD,
NXY,SAY,CSR,AMKR,CIEN,CTRP,SOHU,ZRAN,
HMC,WFR,TSM,KBH,PWRD.
Next post by noon on Sunday.
BLOG does NOT give buy or sell.
Saleem
SLW,IAG,PRGN,CETV,LVS,PLA,FWLT,AMTD,
NXY,SAY,CSR,AMKR,CIEN,CTRP,SOHU,ZRAN,
HMC,WFR,TSM,KBH,PWRD.
Next post by noon on Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, March 5, 2010
Nasdaq closed @ new HIGH on high volume....NICE !!!
Nasdaq is the first index not only made new post crash high BUT it closed @ new high....on high volume.....
S&P 500 & Dow closed near high of the day on higher volume..BUT not @ new highs YET.....
Gold gained $2.20 @ $1134.80
Oil closed @ $81.50 UP $1.58
Canadian $ had its highest close in a year 97.23 US for 1 CAD
Stocks closing UP 3% or more included IAG,SLW,STP,SINA,NTES,
IBN,NVDA,AA,CSIQ,AAPL,X,LVS,CIEN,SNDK,FMCN,PHM......
By noon on Saturday...I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
S&P 500 & Dow closed near high of the day on higher volume..BUT not @ new highs YET.....
Gold gained $2.20 @ $1134.80
Oil closed @ $81.50 UP $1.58
Canadian $ had its highest close in a year 97.23 US for 1 CAD
Stocks closing UP 3% or more included IAG,SLW,STP,SINA,NTES,
IBN,NVDA,AA,CSIQ,AAPL,X,LVS,CIEN,SNDK,FMCN,PHM......
By noon on Saturday...I will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
Indices making higher HIGHS.....NICE !!!!
Indices are @ the highest level since last correction......
S&P 500 is only 18 points away from 52 wk high.....
Gold UP $6.60
Oil UP $1.35
Canadian $ @ 52 wk HIGH @ 97.26
Portfolio is APWR,IAG,PALM,SLW.....
Majority of stocks are UP....
@ 12.14 following are RED :
APWR,PALM,SOLF,MRVL,EGLE,RIMM,BIDU,
AMZN,AUY,QCOM,BRCD,ICE,IGT,ASIA....
BLOG does NOT give buy or sell.
Saleem
S&P 500 is only 18 points away from 52 wk high.....
Gold UP $6.60
Oil UP $1.35
Canadian $ @ 52 wk HIGH @ 97.26
Portfolio is APWR,IAG,PALM,SLW.....
Majority of stocks are UP....
@ 12.14 following are RED :
APWR,PALM,SOLF,MRVL,EGLE,RIMM,BIDU,
AMZN,AUY,QCOM,BRCD,ICE,IGT,ASIA....
BLOG does NOT give buy or sell.
Saleem
Thursday, March 4, 2010
S&P closed 1122.97... above so-called resistance...NICE !!!
All Indices closed green ahead of jobs report.....TAPE is saying that "Jobs Data is a non-issue" due to weather impact......
So on Friday we MAY have a strong day......
All indices closed @ the HIGHEST point since last correction........time to celebrate?
I like to REINFORCE that it IS a trading market & we MAY get NEAR top of this trading range POSSIBLY by Monday...so be NIMBLE IF you are a trader....DO NOT chase the last $.....EUPHORIA will be set in by Monday...so review your trading goals......
Here is the RSI for major Indices...so you can see my CONCERN going into Monday.....
Dow 57.75
S&P 500 60.35
Nasdaq 64.66
70 RSI is a "sell Zone' based on last 4 month pattern.......
AH MRVL ER was a beat & guide UP...BUT traders were NOT happy with the result...they wanted more.....MRVL down <6.61%> on AH volume of 3.98 million shares in ...
As I have repeated many times...... that Q2 will be weak for Techs based on history....could be a weak Q2 for market also.....
AH SLW ER was in-line stock UP 1.19% on AH volume of 16.4K..cc is @ 11 AM Friday......
AH Futures are UP
AH all Asian markets are UP nicely.....
BLOG does NOT give buy or sell.
Saleem
So on Friday we MAY have a strong day......
All indices closed @ the HIGHEST point since last correction........time to celebrate?
I like to REINFORCE that it IS a trading market & we MAY get NEAR top of this trading range POSSIBLY by Monday...so be NIMBLE IF you are a trader....DO NOT chase the last $.....EUPHORIA will be set in by Monday...so review your trading goals......
Here is the RSI for major Indices...so you can see my CONCERN going into Monday.....
Dow 57.75
S&P 500 60.35
Nasdaq 64.66
70 RSI is a "sell Zone' based on last 4 month pattern.......
AH MRVL ER was a beat & guide UP...BUT traders were NOT happy with the result...they wanted more.....MRVL down <6.61%> on AH volume of 3.98 million shares in ...
As I have repeated many times...... that Q2 will be weak for Techs based on history....could be a weak Q2 for market also.....
AH SLW ER was in-line stock UP 1.19% on AH volume of 16.4K..cc is @ 11 AM Friday......
AH Futures are UP
AH all Asian markets are UP nicely.....
BLOG does NOT give buy or sell.
Saleem
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