Indices are UP thanks to German court ruling that OK'D Germany participation in European debt bailout efforts......
Internals are strong UP 6 to 1...
Gold Down $56.20
Oil UP $3.21
Canadian $ UP 24 tick @ 101.23
VIX Down 8.38% @ 33.90..still too high ?
In my portfolio :
SOLD APKT
SOLD LULU
Bought AUY @ $16.46
Added 20% NFLX @ $213.81
Portfolio is AUY,BIDU,NFLX....
Exposure 62% from 140%
President Obama unveils his job plans Thursday after hr.....expectations are very low..Market may pull back Thursday to see what he is proposing.....
LULU reports before open this Friday...not sure what i want to do
on Thursday ?
Most stocks are UP
@ 2.00 following are RED :
AUY,NFLX,GG,CMG,GLD,BWLD,KGC,
JKS,SOL.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, September 7, 2011
Tuesday, September 6, 2011
Indices staged a major rebound from support, Down only .26% to .90%..NICE !!!!
US market were bracing for a major breakdown, but support @ 1140 stood firm when buyers came.
Internals of the market were as follows :
Down volume led by 3.92 to 1 in NYSE & 1.85 to 1 in Nasdaq
Declining stocks led by 2.71 to 1 in NYSE & 1.96 to 1 in Nasdaq
New 52 wk lows were in the lead, 199 in NYSE & 231 in Nasdaq
Nasdaq recovery was extremely impressive...
Ironically, from Jimmy the Cramer to John Roque & many technicians are sour on this market for a while. John has 950 as target in S&P 500 ......this is extremely rare that pundits & technicians are bracing for a major fall ?....The question IS..... will market accommodate negativity....major rally in the past has started when majority were bearish?...CAN it happen AGAIN ?...stay tuned !!!!
In my portfolio :
Added 30% APKT @ $45.32
AH News :
YHOO UP 5.96% in heavy volume of 18+ million shares on CEO's ouster....
AH Oil UP
AH Gold UP
AH Asian Markets UP
AH Futures UP
BLOG does NOT give buy or sell.
Saleem
Internals of the market were as follows :
Down volume led by 3.92 to 1 in NYSE & 1.85 to 1 in Nasdaq
Declining stocks led by 2.71 to 1 in NYSE & 1.96 to 1 in Nasdaq
New 52 wk lows were in the lead, 199 in NYSE & 231 in Nasdaq
Nasdaq recovery was extremely impressive...
Ironically, from Jimmy the Cramer to John Roque & many technicians are sour on this market for a while. John has 950 as target in S&P 500 ......this is extremely rare that pundits & technicians are bracing for a major fall ?....The question IS..... will market accommodate negativity....major rally in the past has started when majority were bearish?...CAN it happen AGAIN ?...stay tuned !!!!
In my portfolio :
Added 30% APKT @ $45.32
AH News :
YHOO UP 5.96% in heavy volume of 18+ million shares on CEO's ouster....
AH Oil UP
AH Gold UP
AH Asian Markets UP
AH Futures UP
BLOG does NOT give buy or sell.
Saleem
Indices Down 1.21% to 1.49%....on ongoing Euroland issues......
Indices were down around 1.5% on renewed fear about Europe economic issues.
S&P 500 went down to 1140.13..RSI to 40.21
Internals are as follows :
Down Volume leading by 4.95 to 1 in NYSE & 5.39 to 1 in Nasdaq
Declining stocks are leading by 4.55 to 1 in NYSE & 3.09 to 1 in Nasdaq
New 52 wk low are in the lead by 248 in NYSE & 216 in Nasdaq
Internals are negative BUT not as bad as feared..Traders are not afraid of this market, buying on weakness is a good thing ?
VIX UP 12.23% @ 38.07..high of the day was 39.86
Gold UP $2.30..went to $1924 a new all time high....
Oil Down $2.13
Canadian $ Down 6 tick @ 100.93
In my portfolio :
Bought LULU @ $51.50
Doubled my position in BIDU @ $136.50
Portfolio is APKT,BIDU,LULU,NFLX
My $ weighting is :
LULU 18.75%
NFLX 21.27%
APKT 25.98%
BIDU 34.00%
@ 153 folowing are green :
NFLX,LULU,BIDU,AMZN,CMG,AAPL,
VXX,LVS,RIMM,MPEL,IBN,MA,V,
SNDK,SOHU,SOL,ABX....
BLOG does NOT give buy or sell.
Saleem
S&P 500 went down to 1140.13..RSI to 40.21
Internals are as follows :
Down Volume leading by 4.95 to 1 in NYSE & 5.39 to 1 in Nasdaq
Declining stocks are leading by 4.55 to 1 in NYSE & 3.09 to 1 in Nasdaq
New 52 wk low are in the lead by 248 in NYSE & 216 in Nasdaq
Internals are negative BUT not as bad as feared..Traders are not afraid of this market, buying on weakness is a good thing ?
VIX UP 12.23% @ 38.07..high of the day was 39.86
Gold UP $2.30..went to $1924 a new all time high....
Oil Down $2.13
Canadian $ Down 6 tick @ 100.93
In my portfolio :
Bought LULU @ $51.50
Doubled my position in BIDU @ $136.50
Portfolio is APKT,BIDU,LULU,NFLX
My $ weighting is :
LULU 18.75%
NFLX 21.27%
APKT 25.98%
BIDU 34.00%
@ 153 folowing are green :
NFLX,LULU,BIDU,AMZN,CMG,AAPL,
VXX,LVS,RIMM,MPEL,IBN,MA,V,
SNDK,SOHU,SOL,ABX....
BLOG does NOT give buy or sell.
Saleem
Sunday, September 4, 2011
Indices rangebound ?
Indices are trading in a well defined range.....
S&P 500 since 2nd wk of July 2011 is on a roller coaster ride as listed below :
-1347 to 1101 Down 246 points or Down 18.26%...sharpest decline in a long time in straight four weeks...
-1101 to 1208 UP 107 points or UP 9.7%
-1208 to 1121 Down 87 points or Down 7.2%
-1121 to 1231 UP 123 points or UP 9.8%
-1231 to 1174 Down 57 points or Down 4.63%...so far
SO..IF we go with recent history...then there is another 2.57% on the downside..which should take us down another 30 points to 1144 area.....
Market biggest foe is US politicians who always promise "moon" but in the end give us very little.....I expect the same from President Obama speech on Thursday..."talk a lot but little impact in terms of jobs"
US market has been kind to "inaction by politicians" while US economy is hurting big time....
IF market does not like what Obama all talk no action speech...then we could go to 1100 in a hurry...& IF rhetoric gets out of control then we could test MAJOR support in 1040 area.......which is a long way from current 1174..a big drop of 134 points or another 11.41% drop..which MAY add up to 16.04% drop in current downturn.......
Economic reality of US & Europe has been an ongoing question mark, with lot of rhetoric but with little or no improving results ?
Most investors have been very patient & hopeful that this shall pass...BUT this economic mess came to forefront in August of 2008...it is now 3 years & 1 month later..we still are fearful of Europe contagion & US recession...the question is, WHY these problems are lingering for 3 years plus ?
TAPE has been of "BEARISH" nature.......since July 2011......
It is important to recognize a bear market tape & reduce exposure accordingly.......
Luck may not help as we go along in this bear market.......
In previous time of economic stress, there was coordinated moves by President, Congress & Fed...NOW it is only Fed which is left to deal with this mess.....politicians are too happy to see economic mess....they think it will benefit them or their party in re-election ?.....so this dangerous game goes ON......@ the expense of consumers, employees, business & entrepreneur......
RSI in S&P 500 @ 44.32....
VIX 33.92
Oil $86.45
Gold $1876.90
Oil prices are reflecting slowing GDP growth worldwide.......
Gold prices are reflecting debasing of many currencies.....as it becomes currency of choice to counter inflation & falling currencies.......
SO...tread this market with great caution.......days of higher highs in stocks except gold may not happen for a while...
Here is RSI of many popular stocks :
AUY 70.23
GG 61.47
RIMM 57.55
POT 57.22
PCLN 56.92
MOS 55.21
WYNN 52.10
SINA 50.96
#AMZN 50.08
CMG 49.92
*BIDU 49.12
AAPL 48.83
#LULU 48.62
CNQ 43.81
GOOG 43.64
*APKT 42.75
PLCM 39.70
MGA 39.37
JCP 38.05
*NFLX 37.60
* denotes my portfolio
# denotes my next purchase..IF price is right
RSI numbers are indicating where opportunities are better, IF market conditions are healthy.......
Good luck with your strategies & your OWN homework.
BLOG does NOT give buy or sell.
Saleem
S&P 500 since 2nd wk of July 2011 is on a roller coaster ride as listed below :
-1347 to 1101 Down 246 points or Down 18.26%...sharpest decline in a long time in straight four weeks...
-1101 to 1208 UP 107 points or UP 9.7%
-1208 to 1121 Down 87 points or Down 7.2%
-1121 to 1231 UP 123 points or UP 9.8%
-1231 to 1174 Down 57 points or Down 4.63%...so far
SO..IF we go with recent history...then there is another 2.57% on the downside..which should take us down another 30 points to 1144 area.....
Market biggest foe is US politicians who always promise "moon" but in the end give us very little.....I expect the same from President Obama speech on Thursday..."talk a lot but little impact in terms of jobs"
US market has been kind to "inaction by politicians" while US economy is hurting big time....
IF market does not like what Obama all talk no action speech...then we could go to 1100 in a hurry...& IF rhetoric gets out of control then we could test MAJOR support in 1040 area.......which is a long way from current 1174..a big drop of 134 points or another 11.41% drop..which MAY add up to 16.04% drop in current downturn.......
Economic reality of US & Europe has been an ongoing question mark, with lot of rhetoric but with little or no improving results ?
Most investors have been very patient & hopeful that this shall pass...BUT this economic mess came to forefront in August of 2008...it is now 3 years & 1 month later..we still are fearful of Europe contagion & US recession...the question is, WHY these problems are lingering for 3 years plus ?
TAPE has been of "BEARISH" nature.......since July 2011......
It is important to recognize a bear market tape & reduce exposure accordingly.......
Luck may not help as we go along in this bear market.......
In previous time of economic stress, there was coordinated moves by President, Congress & Fed...NOW it is only Fed which is left to deal with this mess.....politicians are too happy to see economic mess....they think it will benefit them or their party in re-election ?.....so this dangerous game goes ON......@ the expense of consumers, employees, business & entrepreneur......
RSI in S&P 500 @ 44.32....
VIX 33.92
Oil $86.45
Gold $1876.90
Oil prices are reflecting slowing GDP growth worldwide.......
Gold prices are reflecting debasing of many currencies.....as it becomes currency of choice to counter inflation & falling currencies.......
SO...tread this market with great caution.......days of higher highs in stocks except gold may not happen for a while...
Here is RSI of many popular stocks :
AUY 70.23
GG 61.47
RIMM 57.55
POT 57.22
PCLN 56.92
MOS 55.21
WYNN 52.10
SINA 50.96
#AMZN 50.08
CMG 49.92
*BIDU 49.12
AAPL 48.83
#LULU 48.62
CNQ 43.81
GOOG 43.64
*APKT 42.75
PLCM 39.70
MGA 39.37
JCP 38.05
*NFLX 37.60
* denotes my portfolio
# denotes my next purchase..IF price is right
RSI numbers are indicating where opportunities are better, IF market conditions are healthy.......
Good luck with your strategies & your OWN homework.
BLOG does NOT give buy or sell.
Saleem
Friday, September 2, 2011
Indices down 2.12% to 2.57% on no job creation......
Indices are under pressure as no job was created, this was below most bearish forecast.
Low in S&P 500 so far is 1173.76....this is a pullback of 4.48% from yesterday's HIGH..this is a sharp pullback in 24 hrs of trading.....RSI 44.39
Internals of the market are as follows :
Down Volume led by 6.57 to 1 in NYSE & 11.68 to 1 in Nasdaq
Declining stocks are leading by 4.78 to 1 & 5.18 to 1 in Nasdaq
New 52 wk lows are in lead in both NYSE & Nasdaq
VIX UP 4.31% @ 33.19
Oil Down $2.89
Gold UP $47.90
Canadian $ Down 76 tick @ 101.68
In my portfolio :
Sold KGC
Bought APKT @ $ 45.75
Portfolio is APKT,BIDU,NFLX
$ weighting are as follows :
APKT 37.80%
BIDU 31.27%
NFLX 30.93%
Market exposure is 48%
Most stocks are down
@ 2.19 following are UP :
KGC,AUY,GG,GLD,VXX,AG,SLW,
FNSR,ABX,AEM.....
BLOG does NOT give buy or sell.
Next post by 2 PM Sunday...
Saleem
Low in S&P 500 so far is 1173.76....this is a pullback of 4.48% from yesterday's HIGH..this is a sharp pullback in 24 hrs of trading.....RSI 44.39
Internals of the market are as follows :
Down Volume led by 6.57 to 1 in NYSE & 11.68 to 1 in Nasdaq
Declining stocks are leading by 4.78 to 1 & 5.18 to 1 in Nasdaq
New 52 wk lows are in lead in both NYSE & Nasdaq
VIX UP 4.31% @ 33.19
Oil Down $2.89
Gold UP $47.90
Canadian $ Down 76 tick @ 101.68
In my portfolio :
Sold KGC
Bought APKT @ $ 45.75
Portfolio is APKT,BIDU,NFLX
$ weighting are as follows :
APKT 37.80%
BIDU 31.27%
NFLX 30.93%
Market exposure is 48%
Most stocks are down
@ 2.19 following are UP :
KGC,AUY,GG,GLD,VXX,AG,SLW,
FNSR,ABX,AEM.....
BLOG does NOT give buy or sell.
Next post by 2 PM Sunday...
Saleem
Thursday, September 1, 2011
Indices closed down 1.03% to 1.30%......
Indices closed negative due to many factors. First it was profit taking after many days of UP move, second it was Jobs data @ 830 AM which put fear into many traders.
Internals of the market were as follows :
Down volume led by 6.13 to 1 in NYSE & 4.76 to 1 in Nasdaq
Declining stocks led by 2.77 to 1 in NYSE & 3.44 to 1 in Nasdaq
SO.. you can see clearly it was a "spirited selling"
Gold closed @ $1829.10
Oil closed @ $88.93
VIX closed UP .63% @ 31.82.....this is the-most bullish indicator for stocks ..it should have gone UP @ least 10%..based on market weakness & upcoming jobs data......?????
SO..it is all about jobs report @ 830 AM....Expectations are of 75,000 job growth.....GS panicked @ the last minute & reduced its expectations to 25,000 from a low number of 50,000.....
My guess is that we may come between 50,000 to 70,000.....which in government work is a good number...which means we rally....
About market, everyone seems to be very pessimistic & bracing for a major pullback.....BUT individual investors just turned more bullish today @ 38.69%..a six week high...who knows they may be right this time ?
AH News :
FNSR UP 8.77%
NFLX Down 8.69%...News on NFLX is that their contract renewal after Feb 2012 was terminated...this contract content has 8% of NFLX domestic viewing.....AH volume was 605,564, total volume for the day including AH was 3,012,199..while average volume is 4.34 million shares daily .....
AH futures Mixed
AH Asian Markets Down
AH Oil UP
AH Gold & Silver UP
BLOG does NOT give buy or sell.
Saleem
Internals of the market were as follows :
Down volume led by 6.13 to 1 in NYSE & 4.76 to 1 in Nasdaq
Declining stocks led by 2.77 to 1 in NYSE & 3.44 to 1 in Nasdaq
SO.. you can see clearly it was a "spirited selling"
Gold closed @ $1829.10
Oil closed @ $88.93
VIX closed UP .63% @ 31.82.....this is the-most bullish indicator for stocks ..it should have gone UP @ least 10%..based on market weakness & upcoming jobs data......?????
SO..it is all about jobs report @ 830 AM....Expectations are of 75,000 job growth.....GS panicked @ the last minute & reduced its expectations to 25,000 from a low number of 50,000.....
My guess is that we may come between 50,000 to 70,000.....which in government work is a good number...which means we rally....
About market, everyone seems to be very pessimistic & bracing for a major pullback.....BUT individual investors just turned more bullish today @ 38.69%..a six week high...who knows they may be right this time ?
AH News :
FNSR UP 8.77%
NFLX Down 8.69%...News on NFLX is that their contract renewal after Feb 2012 was terminated...this contract content has 8% of NFLX domestic viewing.....AH volume was 605,564, total volume for the day including AH was 3,012,199..while average volume is 4.34 million shares daily .....
AH futures Mixed
AH Asian Markets Down
AH Oil UP
AH Gold & Silver UP
BLOG does NOT give buy or sell.
Saleem
Indices waiting for Jobs data........
Indices are down .43% to .76% in anticipation of Jobs Data....
Friday is weekly Option Expiry also
Monday is closed for labor day
Jobs data..no matter what it is...market WANTS to move HIGHER.....
Today's weakness is a smart way to position for UP move...
Internals are 50% weaker
Oil UP 92 cents
Gold Down $4.70
Canadian $ UP 23 tick @ 102.49
VIX Down 1.45% @ 31.16...this is predicting a bullish stock environment....
In my portfolio :
Added 20% KGC @ $17.19...it is now 47.28% of $ weighting, while NFLX 26.22% & BIDU 26.50%
56% exposure
Most stocks are down
@ 1.36 following are green :
CIEN,GG,AUY,GLD,PHYS,POT,
RIMM,LVS,RVBD,MA,V,SU,
JDSU,FNSR,SNDK.
BLOG does NOT give buy or sell.
Saleem
Friday is weekly Option Expiry also
Monday is closed for labor day
Jobs data..no matter what it is...market WANTS to move HIGHER.....
Today's weakness is a smart way to position for UP move...
Internals are 50% weaker
Oil UP 92 cents
Gold Down $4.70
Canadian $ UP 23 tick @ 102.49
VIX Down 1.45% @ 31.16...this is predicting a bullish stock environment....
In my portfolio :
Added 20% KGC @ $17.19...it is now 47.28% of $ weighting, while NFLX 26.22% & BIDU 26.50%
56% exposure
Most stocks are down
@ 1.36 following are green :
CIEN,GG,AUY,GLD,PHYS,POT,
RIMM,LVS,RVBD,MA,V,SU,
JDSU,FNSR,SNDK.
BLOG does NOT give buy or sell.
Saleem
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