Dow is green ahead of the earnings season which starts tonight.
AA is the first one to report AH..profit should be a beat......
Nasdaq is down .40% & S&P 500 negative by .23%...
Internals of the market are negative......
Oil Down $2.43
Gold Down $7.50
Canadian $ Down 3 tick @ 104.65
Portfolio is BIDU,JKS,POT,SOL,RVBD......
Most stocks are Down....
@ 1.43 PM following are green :
BIDU,RVBD,GS,CRM,MA,V,CREE,M,FMCN,
RCI,NTES,ISRG,GNK.....
BLOG does NOT give buy or sell.
Saleem
Monday, April 11, 2011
Friday, April 8, 2011
Why we have not taken out highs in S&P 500 ?
Much fuss has been made of the fact that we reached highs in S&P 500 back in 2nd week of Feb......Today the biggest bear David Rosenberg interpretation of chart is concluding another bearish signal...for the record David never saw any bullish chart since March 09 low.....
IF we care to read the chart accurately, then we have gone UP in a straight line in S&P 500 from 1173.64 back in Nov 2010 to 1344.07 by 2nd week of Feb 2011..a move of 170.43 points or 14.52% in a straight line in a matter 13 weeks.......
Then came Egypt, Bahrain,Yemen,Libya & triple tragedy in Japan.......so market is trying to digest all the implication which MAY impede economic growth worldwide.......so we went sideways for 9 weeks ?
As of today's close, thanks to another political drama in US.....S&P 500 closed @ 1328.17 which is only 15.90 points away from Feb high.......I have NOT seen any market this RESILIENT ever......
I have every indicator which is telling me that we should be taking out Feb highs & go much HIGHER.
Here is the RSI read as of tonight :
Nasdaq 56.67
S&P 500 56.80
Dow 60.44
It IS important to follow chartists / technicians who have predicted the direction of this market since March 09 @ 666 & tonight we are @ 1328 which is 662 points higher or gain of 99.39%.......
I believe, that once we get political drama out of the way.....money will flow back in markets !!!!!
SO..it is important to IGNORE NOISE which comes consistently from the GENIUS of Prechter,Rosenberg,Adami,Kass..who have been WRONG for almost all of 662 points run.....
I still recommend overweight in markets until we have violated key support area like 50 DMA...then we will reassess......
Good luck with your diversified approach, some sectors are overbought like Oil, Gold ,Silver while others like Tech, Ag, Solar are oversold......
BLOG does NOT give buy or sell.
Saleem
IF we care to read the chart accurately, then we have gone UP in a straight line in S&P 500 from 1173.64 back in Nov 2010 to 1344.07 by 2nd week of Feb 2011..a move of 170.43 points or 14.52% in a straight line in a matter 13 weeks.......
Then came Egypt, Bahrain,Yemen,Libya & triple tragedy in Japan.......so market is trying to digest all the implication which MAY impede economic growth worldwide.......so we went sideways for 9 weeks ?
As of today's close, thanks to another political drama in US.....S&P 500 closed @ 1328.17 which is only 15.90 points away from Feb high.......I have NOT seen any market this RESILIENT ever......
I have every indicator which is telling me that we should be taking out Feb highs & go much HIGHER.
Here is the RSI read as of tonight :
Nasdaq 56.67
S&P 500 56.80
Dow 60.44
It IS important to follow chartists / technicians who have predicted the direction of this market since March 09 @ 666 & tonight we are @ 1328 which is 662 points higher or gain of 99.39%.......
I believe, that once we get political drama out of the way.....money will flow back in markets !!!!!
SO..it is important to IGNORE NOISE which comes consistently from the GENIUS of Prechter,Rosenberg,Adami,Kass..who have been WRONG for almost all of 662 points run.....
I still recommend overweight in markets until we have violated key support area like 50 DMA...then we will reassess......
Good luck with your diversified approach, some sectors are overbought like Oil, Gold ,Silver while others like Tech, Ag, Solar are oversold......
BLOG does NOT give buy or sell.
Saleem
Indices Down .22% due to shutdown uncertainty......
Indices were ready to move UP, but politicians are playing their favourite role of inaction..spending "quality time on TV" instead of "taking care of business".....so indices are down .22% waiting for "last minute dance"
Internals of the market are negative
Gold UP $15.30 into new record high
Oil UP $2.10 into new record high
Canadian $ UP 25 tick @ 104.54
VIX UP .18% @ 17.14
Portfolio is BIDU,JKS,POT,SOL,RVBD
Most stocks are Down
@ 1.58 following are green :
BIDU,RVBD,GOOG,SLW,FFIV,NFLX,CRM,
MA,V,CNQ,SU,JDSU,FMCN,GG,SINA,AEM,
ABX,SNE,GNK....
BLOG does NOT give buy or sell.
Saleem
Internals of the market are negative
Gold UP $15.30 into new record high
Oil UP $2.10 into new record high
Canadian $ UP 25 tick @ 104.54
VIX UP .18% @ 17.14
Portfolio is BIDU,JKS,POT,SOL,RVBD
Most stocks are Down
@ 1.58 following are green :
BIDU,RVBD,GOOG,SLW,FFIV,NFLX,CRM,
MA,V,CNQ,SU,JDSU,FMCN,GG,SINA,AEM,
ABX,SNE,GNK....
BLOG does NOT give buy or sell.
Saleem
Thursday, April 7, 2011
Indices closed slightly lower ....
Indices were under selling pressure due to fear about Tsunami in Japan.
By close Indices were slightly lower.
Market internals were negative.
AH ER STX was a beat, stock UP 7.56%
AH ER SATC guiding lower, stock Down 3.69%
AH EXPE announced splitting their business in two separate company, stock UP 13.88%
AH Futures UP
AH Asian markets UP
AH Gold, Oil & Silver UP
BLOG does NOT give buy or sell.
Saleem
By close Indices were slightly lower.
Market internals were negative.
AH ER STX was a beat, stock UP 7.56%
AH ER SATC guiding lower, stock Down 3.69%
AH EXPE announced splitting their business in two separate company, stock UP 13.88%
AH Futures UP
AH Asian markets UP
AH Gold, Oil & Silver UP
BLOG does NOT give buy or sell.
Saleem
Indices close to flatline, despite Japanese earthquake news......
Indices are down less than .36%.Indices are showing resiliency despite earthquake news in Japan.
Internals of the market remains positive.
Gold Down $1.90
Oil UP $1.03
Canadian $ UP 16 tick @ 104.27
VIX Down .06% @ 16.89
Portfolio is BIDU,JKS,POT,SOL,RVBD.....
@ 1.15 following are Green :
BIDU,CMG,GOOG,PLCM,PCLN,AMZN,GS,
CRM,SOHU,M,LVS,SNDK,ARUN,NVDA,
FFIV,APKT,FMCN,SINA,NTES,ISRG,GNK.
BLOG does NOT give buy or sell.
Saleem
Internals of the market remains positive.
Gold Down $1.90
Oil UP $1.03
Canadian $ UP 16 tick @ 104.27
VIX Down .06% @ 16.89
Portfolio is BIDU,JKS,POT,SOL,RVBD.....
@ 1.15 following are Green :
BIDU,CMG,GOOG,PLCM,PCLN,AMZN,GS,
CRM,SOHU,M,LVS,SNDK,ARUN,NVDA,
FFIV,APKT,FMCN,SINA,NTES,ISRG,GNK.
BLOG does NOT give buy or sell.
Saleem
Wednesday, April 6, 2011
Dow @ new high....NICE !!!!
Indices are fighting profit taking & Dow making new high for the year.
Internals of the market are strong.
S&P 500 is only 8.54 points away from making new high.
Nasdaq only 40.70 points from making new high.
Many traders are getting "nervous" about shifting sector rotation....this is normal for a strong bull market.
It is important to maintain a "diversified" portfolio.
IF you must overweight, it should be in lagging sector.
However.....there are warning sign flashing about market......
Bears as of tonight are @ record low of 15.7%...
Bulls are near record high of 57% highest was 62%......it is a great CONTRARY indicator.....
With any technical indicator it cannot be taken in isolation.You must cross check with RSI for the market which is NOT flashing sell......
Here is the RSI for indices @ close :
S&P 500 61.36
Nasdaq 61.89
Dow 63.79
IF..i have to set a guideline for my trading..i will be "super cautious" around 70 area in RSI.....
VIX also getting close to 52 wk low which is 14.86..VIX closed @ 16.90.....another cautionary signal as it is also a "contrary indicator"
In my portfolio :
Added 15% RVBD @ $34.29
Portfolio with RSI is BIDU 62.77, JKS 48.18, POT 58.13, SOL 52.14, RVBD 34.71
It is important to monitor this market closely NOW.......
AH Futures Down
AH Asian markets UP
AH Oil Down
AH Gold & Silver Down
BLOG does NOT give buy or sell.
Saleem
Internals of the market are strong.
S&P 500 is only 8.54 points away from making new high.
Nasdaq only 40.70 points from making new high.
Many traders are getting "nervous" about shifting sector rotation....this is normal for a strong bull market.
It is important to maintain a "diversified" portfolio.
IF you must overweight, it should be in lagging sector.
However.....there are warning sign flashing about market......
Bears as of tonight are @ record low of 15.7%...
Bulls are near record high of 57% highest was 62%......it is a great CONTRARY indicator.....
With any technical indicator it cannot be taken in isolation.You must cross check with RSI for the market which is NOT flashing sell......
Here is the RSI for indices @ close :
S&P 500 61.36
Nasdaq 61.89
Dow 63.79
IF..i have to set a guideline for my trading..i will be "super cautious" around 70 area in RSI.....
VIX also getting close to 52 wk low which is 14.86..VIX closed @ 16.90.....another cautionary signal as it is also a "contrary indicator"
In my portfolio :
Added 15% RVBD @ $34.29
Portfolio with RSI is BIDU 62.77, JKS 48.18, POT 58.13, SOL 52.14, RVBD 34.71
It is important to monitor this market closely NOW.......
AH Futures Down
AH Asian markets UP
AH Oil Down
AH Gold & Silver Down
BLOG does NOT give buy or sell.
Saleem
Indices green despite heavy profit taking......
Today we saw "old fashion" profit taking.
There was too much "euphoria" for Gold & Silver stocks...that is why they all turned lower.This sector is overbought.
Market is "catching its breadth" after recent run for last 10 days.....UPTREND remains intact.
Gold UP $4.60
Oil Down 38 cents
Canadian $ UP 52 tick to 104.25..a record high in many years.....
VIX UP 2.14% @ 16.88
Portfolio is BIDU,JKS,POT,SOL,RVBD......
Most stocks are DOWN....
@ 1.24 following are green :
GOOG,JACK,RIMM,FFIV,MU,GS,BAC,MA,V,
M,CREE,JDSU,FNSR,JASO,STP,NVLS,LSCC,
GG,IAG,SNDA,BRCD,CTRN,ICE,NDAQ,NYX,
GAME,TSL,ISRG,TTM,VAR,GNK.....
BLOG does NOT give buy or sell.
Saleem
There was too much "euphoria" for Gold & Silver stocks...that is why they all turned lower.This sector is overbought.
Market is "catching its breadth" after recent run for last 10 days.....UPTREND remains intact.
Gold UP $4.60
Oil Down 38 cents
Canadian $ UP 52 tick to 104.25..a record high in many years.....
VIX UP 2.14% @ 16.88
Portfolio is BIDU,JKS,POT,SOL,RVBD......
Most stocks are DOWN....
@ 1.24 following are green :
GOOG,JACK,RIMM,FFIV,MU,GS,BAC,MA,V,
M,CREE,JDSU,FNSR,JASO,STP,NVLS,LSCC,
GG,IAG,SNDA,BRCD,CTRN,ICE,NDAQ,NYX,
GAME,TSL,ISRG,TTM,VAR,GNK.....
BLOG does NOT give buy or sell.
Saleem
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