Major PANIC is in the air......
This is the time to buy...suggest upto 60% allocation
S&P 500 went to 1216.10...which may hold
Gold Down $8.90
Oil Down $4.38
Canadian $ Down 1.52 cent @ 102.47
VIX UP 15.61% @ 27.03
In my portfolio ;
Bought LVS @ $33.90
Portfolio is FFIV,LVS,LULU,RVBD
57% allocation
Here is my $ weighting :
FFIV 27.80%
LULU 26.94%
LVS 26.70%
RVBD 18.56%
Down volume is leading by 22 to 1 in Nasdaq.......MAJOR capitulation going on......
BLOG does NOT give buy or sell.
Saleem
Thursday, August 4, 2011
Wednesday, August 3, 2011
Constructive close today....NICE !!!!
Indices were in freefall & took out many stops in the process.When indices were near lows & RSI in 29, short covering started in a big way.
Many rallies start with short covering, BUT we are in hyper economic news environment. Thursday before open is jobless claims & Friday the mother of all economic report Jobs, Jobs & Jobs.....
Indices were all green @ close, after 7 days of selling.
New 52 wk lows were 267 in NYSE & 179 in Nasdaq......
As summer has been identified as challenging for markets with many catalysts gone for few months.
Exposure needs to be low in summer, i am trying to contain @ 50% MAX
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
BLOG does NOT give buy or sell.
Saleem
Many rallies start with short covering, BUT we are in hyper economic news environment. Thursday before open is jobless claims & Friday the mother of all economic report Jobs, Jobs & Jobs.....
Indices were all green @ close, after 7 days of selling.
New 52 wk lows were 267 in NYSE & 179 in Nasdaq......
As summer has been identified as challenging for markets with many catalysts gone for few months.
Exposure needs to be low in summer, i am trying to contain @ 50% MAX
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
BLOG does NOT give buy or sell.
Saleem
S&P 500 low today 1234.56.....lower lows not good......
S&P 500 is in freefall, making new 52 wk lows daily.
Technically markets are in total disarray.
CNBC pundits are all proven wrong with new lows.
Economic news are on tap daily & may not provide any support to S&P 500.
Jobless claims & Jobs report, both maybe downer.
Initial support in S&P 500 of 1219.80 may not hold, next level is 1150.45.
When market slides, it cascades lower & its hard to say where it finds support......think 2008 for a parallel.......
Gold went to $1675.90 @ its highest point so far..a new all-time high, currently UP $24.20
Oil Down $2.29
Canadian $ Down 27 tick @ 103.75
VIX Down 3.51% @ 23.92
In my portfolio :
Sold GG
Portfolio is FFIV,LULU,RVBD
Exposure 42%
Internals are negative by almost 3 to 1...
Most stocks are down
@ 1.24 following are UP
GG,FFIV,RVBD,RIMM,AAPL,TZOO,
APKT,SLW,AG,AUY,NFLX,CMG,
BWLD,GOOG,MA,V,CIEN,FNSR,
SNDK,ARUN,ABX,AEM,GS....
BLOG does NOT give buy or sell.
Saleem
Technically markets are in total disarray.
CNBC pundits are all proven wrong with new lows.
Economic news are on tap daily & may not provide any support to S&P 500.
Jobless claims & Jobs report, both maybe downer.
Initial support in S&P 500 of 1219.80 may not hold, next level is 1150.45.
When market slides, it cascades lower & its hard to say where it finds support......think 2008 for a parallel.......
Gold went to $1675.90 @ its highest point so far..a new all-time high, currently UP $24.20
Oil Down $2.29
Canadian $ Down 27 tick @ 103.75
VIX Down 3.51% @ 23.92
In my portfolio :
Sold GG
Portfolio is FFIV,LULU,RVBD
Exposure 42%
Internals are negative by almost 3 to 1...
Most stocks are down
@ 1.24 following are UP
GG,FFIV,RVBD,RIMM,AAPL,TZOO,
APKT,SLW,AG,AUY,NFLX,CMG,
BWLD,GOOG,MA,V,CIEN,FNSR,
SNDK,ARUN,ABX,AEM,GS....
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 2, 2011
Today's slump was market's verdict to politicians of "job NOT done"
Market has a way of telling the whole world that politicians are messing up US economy "big time"
There is NO focus on "job creation yet"......it was all a charade to get re-elected.....
Markets do not fall apart for no reason..
Internals of the market were as follows :
Down volume led by 16.57 to 1 in NYSE & 18.12 to 1 in Nasdaq
Declining stocks led by 3.69 to 1 in NYSE & 4.99 to 1 in Nasdaq
New 52 wk low were 165 in NYSE & 132 in Nasdaq
VIX UP 4.78% @ 24.79
As you know, that the above selling was on high volume......
All Indices are well below 200 DMA......
RSI in S&P 500 is @ 31.25..which is deep oversold condition....
This daily selling is the worst since financial meltdown of 2008......
SO..the big question is where is the support in this market...
Most pundits are looking @ 1249.05 as support......i am not sure this is where the support is...I have a strong feeling that strong support maybe in 1219 area...this is the level of March 2010....
Market is very clear about the economic mess & is not impressed with inaction.
No job creation means no economic growth......end of the story......
SO..IF we get oversold bounce it may not last more than two days.....
My recommendation is to sell any bounce which we may get until sometime.....or stay with less exposure @ this stage. I am @ 60% exposure.
I have not sold any shares today or made any adjustment, here is my $ weighting:
GG 36.67%
FFIV 23.93%
LULU 23.60%
RVBD 15.80%
It is important to hold Gold until all this mess is sorted out......
Do not be surprised @ US debt downgrade, it is inevitable.....
AH Futures Down
AH Asian markets down
AH Oil Down
AH Gold & Silver UP
BLOG does NOT give buy or sell.
Saleem
There is NO focus on "job creation yet"......it was all a charade to get re-elected.....
Markets do not fall apart for no reason..
Internals of the market were as follows :
Down volume led by 16.57 to 1 in NYSE & 18.12 to 1 in Nasdaq
Declining stocks led by 3.69 to 1 in NYSE & 4.99 to 1 in Nasdaq
New 52 wk low were 165 in NYSE & 132 in Nasdaq
VIX UP 4.78% @ 24.79
As you know, that the above selling was on high volume......
All Indices are well below 200 DMA......
RSI in S&P 500 is @ 31.25..which is deep oversold condition....
This daily selling is the worst since financial meltdown of 2008......
SO..the big question is where is the support in this market...
Most pundits are looking @ 1249.05 as support......i am not sure this is where the support is...I have a strong feeling that strong support maybe in 1219 area...this is the level of March 2010....
Market is very clear about the economic mess & is not impressed with inaction.
No job creation means no economic growth......end of the story......
SO..IF we get oversold bounce it may not last more than two days.....
My recommendation is to sell any bounce which we may get until sometime.....or stay with less exposure @ this stage. I am @ 60% exposure.
I have not sold any shares today or made any adjustment, here is my $ weighting:
GG 36.67%
FFIV 23.93%
LULU 23.60%
RVBD 15.80%
It is important to hold Gold until all this mess is sorted out......
Do not be surprised @ US debt downgrade, it is inevitable.....
AH Futures Down
AH Asian markets down
AH Oil Down
AH Gold & Silver UP
BLOG does NOT give buy or sell.
Saleem
Indices down 1.07% to 1.33% on weakness in economy....
As summer is setting in, markets are heading lower.There has been more weakness in economy.
S&P 500 is way south of 200 DMA..which is a technical violation.
Internals are down from 2 to 1 to 4 to 1
Gold UP $21.40 @ $1640.50..a new record high
Oil Down $1.01
Canadian $ Down 47 tick @ 104.12
VIX UP .08% @ 23.68...market may improve ?
Portfolio is GG,FFIV,LULU,RVBD
Most stocks are Down
@1.45 following are UP :
GG,RVBD,JCP,SLW,AG,AUY,SOHU,CRM,MA,
JKS,SVM,UXG,ABX,KGC,AEM,SNE,VAR,FWLT....
BLOG does NOT give buy or sell.
Saleem
S&P 500 is way south of 200 DMA..which is a technical violation.
Internals are down from 2 to 1 to 4 to 1
Gold UP $21.40 @ $1640.50..a new record high
Oil Down $1.01
Canadian $ Down 47 tick @ 104.12
VIX UP .08% @ 23.68...market may improve ?
Portfolio is GG,FFIV,LULU,RVBD
Most stocks are Down
@1.45 following are UP :
GG,RVBD,JCP,SLW,AG,AUY,SOHU,CRM,MA,
JKS,SVM,UXG,ABX,KGC,AEM,SNE,VAR,FWLT....
BLOG does NOT give buy or sell.
Saleem
Monday, August 1, 2011
Indices closed down .09% to .43%.......
Indices took a roller coaster ride.....First S&P 500 went UP to 1307.38...then down to 1274.73 a drop of 2.5%...then another recovery by close to 1286.94 a .96% move UP from low....@ close S&P 500 is above 200 DMA of 1285.41.....
RSI @ close is 39.34....deeply oversold condition
Internals were negative......
Here is the RSI in my stocks plus some popular ones for review :
GG 37.63
FFIV 35.47
LULU 61.08
RVBD 31.49
BIDU 63.26
AAPL 71.87
AMZN 63.00
PCLN 57.96
JCP 33.32
POT 51.87
AGU 48.51
You can see how market is giving different focus @ this time.
Market has been tough & remains tough, please manage your exposure. I go from high fliers to dull stocks on purpose.....to deal with market tantrums...please remember nobody is smarter than market. All we can do is manage risk....sometimes boring stocks can brave downtrend better.
ER were as follows :
SOHU <12.16%>
CYOU <11.11%>
SO..it is important NOT to play earnings game......
AH Futures Down
AH Asian market Down
AH Oil UP
AH Gold UP
AH Silver UP
BLOG does NOT give buy or sell.
Saleem
RSI @ close is 39.34....deeply oversold condition
Internals were negative......
Here is the RSI in my stocks plus some popular ones for review :
GG 37.63
FFIV 35.47
LULU 61.08
RVBD 31.49
BIDU 63.26
AAPL 71.87
AMZN 63.00
PCLN 57.96
JCP 33.32
POT 51.87
AGU 48.51
You can see how market is giving different focus @ this time.
Market has been tough & remains tough, please manage your exposure. I go from high fliers to dull stocks on purpose.....to deal with market tantrums...please remember nobody is smarter than market. All we can do is manage risk....sometimes boring stocks can brave downtrend better.
ER were as follows :
SOHU <12.16%>
CYOU <11.11%>
SO..it is important NOT to play earnings game......
AH Futures Down
AH Asian market Down
AH Oil UP
AH Gold UP
AH Silver UP
BLOG does NOT give buy or sell.
Saleem
Indices down .62% to 1.09%......
Many traders may be surprised by the drop in indices. This drop can be attributed to many things, weak economy,weak debt agreement & traders disgust with political process. Individual invest when they feel good about many things......
Internals of the market is negative by minimum 2 to 1,
Nasdaq Down volume is leading by 5 to 1?
Oil Down 91 cents
Gold down $7.70
Canadian $ Down 22 tick @ 104.43
VIX Down 2.34% @ 24.66...pointing to a better stock market ?
In my portfolio :
Sold AAPL
Sold AMZN
Sold BIDU
Bought GG @ $48.33
Tripled my position in LULU @ $61.00
Portfolio is GG,FFIV,LULU,RVBD
60% exposure....
Most stocks are down
@1.48 following are green :
LULU,GG,BIDU,AAPL,CAT,POT,TZOO,
MPEL,LVS,WYNN,SLW,AG,AUY,CMG,
IBN,M,UXG,C,BAC,FMCN,ABX,AEM..
BLOG does NOT give buy or sell.
Saleem
Internals of the market is negative by minimum 2 to 1,
Nasdaq Down volume is leading by 5 to 1?
Oil Down 91 cents
Gold down $7.70
Canadian $ Down 22 tick @ 104.43
VIX Down 2.34% @ 24.66...pointing to a better stock market ?
In my portfolio :
Sold AAPL
Sold AMZN
Sold BIDU
Bought GG @ $48.33
Tripled my position in LULU @ $61.00
Portfolio is GG,FFIV,LULU,RVBD
60% exposure....
Most stocks are down
@1.48 following are green :
LULU,GG,BIDU,AAPL,CAT,POT,TZOO,
MPEL,LVS,WYNN,SLW,AG,AUY,CMG,
IBN,M,UXG,C,BAC,FMCN,ABX,AEM..
BLOG does NOT give buy or sell.
Saleem
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