I know ...the above headline may disturb some as "overly optimistic"...BUT S&P 500 low today was 1176.91..well above previous low of 1173.00 reached 6 trading days ago...50 DMA is 1173.30....
SO..with artillery being exchanged in Korean Peninsula,we held support.This is what a "strong bull market does"
RSI in S&P 500 is @ 45.89,what is not to like about this market...
YES..internals of the market today was negative,but that was more of panic reaction to Korea.
VIX UP 12.3% to 20.63...
Did you notice that Gold had an anaemic reaction to Korea & Gold stocks refuse to go UP,that was a tell tale of "no real conflict"...North Korea said that their reaction was in response to joint military exercise near their shore......
In my portfolio :
Bought LVS @ $49.00
Portfolio is AGU,AAPL,BIDU,FFIV,JKS,LVS,WYNN.....
AH Futures UP
AH Oil UP & Silver UP
AH Gold Down
AH Asian Markets Mixed
BLOG does NOT give buy or sell.
Saleem
Tuesday, November 23, 2010
Korea tension taking a toll...indices Down up to 1.69%
North & South Korea are @ it again,old enemies looking for another fight......
Indices are down up to 1.69%.....
Gold UP $16.80
Oil Down 77 cents
Canadian $ Down 62 tick @ 97.52
In my portfolio :
Sold KGC
Sold EGO
Bought AAPL @ $309.30
Bought JKS @ $25.77
Portfolio is AGU,FFIV,JKS,AAPL,WYNN,BIDU....
Most stocks are down.....
@ 12.26 following are green :
JKS,CRM,NFLX,M,SNDK,JASO,CRUS,LULU,
ABX.....
BLOG does NOT give buy or sell.
Saleem
Indices are down up to 1.69%.....
Gold UP $16.80
Oil Down 77 cents
Canadian $ Down 62 tick @ 97.52
In my portfolio :
Sold KGC
Sold EGO
Bought AAPL @ $309.30
Bought JKS @ $25.77
Portfolio is AGU,FFIV,JKS,AAPL,WYNN,BIDU....
Most stocks are down.....
@ 12.26 following are green :
JKS,CRM,NFLX,M,SNDK,JASO,CRUS,LULU,
ABX.....
BLOG does NOT give buy or sell.
Saleem
Monday, November 22, 2010
Nasdaq strong while other indices cut losses...NICE !!!
Nasdaq was the "superstar" in today's tape.Nasdaq closed green in a negative news environment.Dow & S&P 500 recovered most of their losses.
Internals of the market was mostly positive.
Strength of this market is evident @ close.
On a humorous note, Doug Kass after many wrong calls about market is predicting shutdown of NYSE for days due to cyber attack.IF this does not pan out, he will predict invasion of this earth by aliens...for sure he sounds desperate to support his top of this market @ 1000 first then again @ 1130 ????
Stocks which were UP 2% or more included WYNN,LVS,FFIV,
AMZN,NFLX,PCLN,AAPL,RVBD,SLW,HL,SOHU,M,CRM,CIEN,
FMSR,SOL,SOLF,FUQI,SNDK,CRUS,ARUN,NVTL......
AH HPQ ER was a beat & guide UP,stock UP 2.68%
AH Futures Down
AH Asian markets Mixed
AH Oil Down
AH Gold & Silver UP
BLOG does NOT give buy or sell.
Saleem
Internals of the market was mostly positive.
Strength of this market is evident @ close.
On a humorous note, Doug Kass after many wrong calls about market is predicting shutdown of NYSE for days due to cyber attack.IF this does not pan out, he will predict invasion of this earth by aliens...for sure he sounds desperate to support his top of this market @ 1000 first then again @ 1130 ????
Stocks which were UP 2% or more included WYNN,LVS,FFIV,
AMZN,NFLX,PCLN,AAPL,RVBD,SLW,HL,SOHU,M,CRM,CIEN,
FMSR,SOL,SOLF,FUQI,SNDK,CRUS,ARUN,NVTL......
AH HPQ ER was a beat & guide UP,stock UP 2.68%
AH Futures Down
AH Asian markets Mixed
AH Oil Down
AH Gold & Silver UP
BLOG does NOT give buy or sell.
Saleem
Indices lower by .46% to 1.11%....
Market is backing off after Ireland bailout.
Nasdaq was green, but gave up gains.Many strong stocks are UP sharply...
Gold UP 70 cents
Oil Down 94 cents
Canadian $ Down 41 tick to 97.94
Portfolio is AGU,BIDU,EGO,FFIV,KGC,WYNN....
Stocks are mixed....
VIX UP 11.03% @ 20.03
@ 1.20 following are green :
AGU,FFIV,KGC,WYNN,EGO,NFLX,AAPL,AMZN,
LVS,PCLN,RVBD,SLW,MGA,SOHU,M,CTRN,
SOLF,CRM,LULU,CRUS,FUQI,ISRG,IBN,CIEN,
SOL,SNDK,NVTL.
BLOG does NOT give buy or sell.
Saleem
Nasdaq was green, but gave up gains.Many strong stocks are UP sharply...
Gold UP 70 cents
Oil Down 94 cents
Canadian $ Down 41 tick to 97.94
Portfolio is AGU,BIDU,EGO,FFIV,KGC,WYNN....
Stocks are mixed....
VIX UP 11.03% @ 20.03
@ 1.20 following are green :
AGU,FFIV,KGC,WYNN,EGO,NFLX,AAPL,AMZN,
LVS,PCLN,RVBD,SLW,MGA,SOHU,M,CTRN,
SOLF,CRM,LULU,CRUS,FUQI,ISRG,IBN,CIEN,
SOL,SNDK,NVTL.
BLOG does NOT give buy or sell.
Saleem
Sunday, November 21, 2010
Market trend is UP......
Since end of August,market has established a strong "bull mode".
Many participant of this market have failed to recognize that bull market TAPE is different from bear market TAPE......
IF you are well diversified in many strong sectors,there is no need to lose sleep over minor corrections....
We just witnessed 4.4% correction in S&P 500 which lasted 7 trading days......
RSI in S&P 500 went from 80 to 48 in a hurry,currently 55.62.
Strong support in a bull market is established around 50 DMA.......we came down to 1173.00 while 50 DMA is 1170.59......
Gold which is in a "mother of all rally" touched 50 DMA also since August...50 DMA 130.53 we went down to 129.83 four days ago......currently @ 132.20......all bull market gives you an entry point if you closely watch it & act quickly......
Gold stocks for the most part have NOT benefited from record gold prices, as many were expecting gold to pull back.
Many gold stocks are trading near 3 years ago prices when gold was less than $1,000.....I expect gold stocks to move stronger than gold prices,as their profitability is much higher than anytime in their history.Lower Natural Gas prices also helps gold mining companies.
Silver also came near 50 DMA of 23.12,currently 26.74, silver TAPE is much stronger than gold.SLV is a good ETF to track silver moves.
The point i am trying to make that :
-It is a major bull market
-Pullbacks to ascending 50DMA is the best buying opportunity.
-Sector rotation is in vogue.....RVBD,FFIV stronger while AAPL,BIDU,AMZN weaker... means later should move NOW......
-Laggards like Gold stocks should move sharply higher....
-Casino stocks also pulled back near 50 DMA & is now on its way to making new highs.....
Bottom line is, IF you see 10% correction in strong stocks ..it is prudent move to buy quickly.
This is a 3.5 day week,closed on Thursday & closing @ 1PM on Friday......history tells us that we should be down this week......BUT "bull market" thesis tells me that we should move UP to challenge HIGHS......
I expect this bull market to take us into new "all time highs in Dow & S&P 500 quickly" & Nasdaq with some struggle as Nasdaq went sky high in Dot.Com euphoria...5000++ will be here but much later than S&P 500 & Dow new all time highs.....
SO, get to know your stocks & get out quickly IF they change direction.We only have to be right 51% of the time to make money.IF you are batting HIGHER than 51% then you are way ahead of the game.
Good luck in your sector & stock selection,you can beat "expectations" by being ahead of the pack.
BLOG does NOT give buy or sell.
Saleem
Many participant of this market have failed to recognize that bull market TAPE is different from bear market TAPE......
IF you are well diversified in many strong sectors,there is no need to lose sleep over minor corrections....
We just witnessed 4.4% correction in S&P 500 which lasted 7 trading days......
RSI in S&P 500 went from 80 to 48 in a hurry,currently 55.62.
Strong support in a bull market is established around 50 DMA.......we came down to 1173.00 while 50 DMA is 1170.59......
Gold which is in a "mother of all rally" touched 50 DMA also since August...50 DMA 130.53 we went down to 129.83 four days ago......currently @ 132.20......all bull market gives you an entry point if you closely watch it & act quickly......
Gold stocks for the most part have NOT benefited from record gold prices, as many were expecting gold to pull back.
Many gold stocks are trading near 3 years ago prices when gold was less than $1,000.....I expect gold stocks to move stronger than gold prices,as their profitability is much higher than anytime in their history.Lower Natural Gas prices also helps gold mining companies.
Silver also came near 50 DMA of 23.12,currently 26.74, silver TAPE is much stronger than gold.SLV is a good ETF to track silver moves.
The point i am trying to make that :
-It is a major bull market
-Pullbacks to ascending 50DMA is the best buying opportunity.
-Sector rotation is in vogue.....RVBD,FFIV stronger while AAPL,BIDU,AMZN weaker... means later should move NOW......
-Laggards like Gold stocks should move sharply higher....
-Casino stocks also pulled back near 50 DMA & is now on its way to making new highs.....
Bottom line is, IF you see 10% correction in strong stocks ..it is prudent move to buy quickly.
This is a 3.5 day week,closed on Thursday & closing @ 1PM on Friday......history tells us that we should be down this week......BUT "bull market" thesis tells me that we should move UP to challenge HIGHS......
I expect this bull market to take us into new "all time highs in Dow & S&P 500 quickly" & Nasdaq with some struggle as Nasdaq went sky high in Dot.Com euphoria...5000++ will be here but much later than S&P 500 & Dow new all time highs.....
SO, get to know your stocks & get out quickly IF they change direction.We only have to be right 51% of the time to make money.IF you are batting HIGHER than 51% then you are way ahead of the game.
Good luck in your sector & stock selection,you can beat "expectations" by being ahead of the pack.
BLOG does NOT give buy or sell.
Saleem
Saturday, November 20, 2010
Buy rated stocks.....
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
BRCM,CRUS,LSI,TQNT,PXLW,CY,OVTI,
NUAN,CTXS,N,KONG,CMED,RT,LIZ,BOOM,
PAL,MFN,ACI.....
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
BRCM,CRUS,LSI,TQNT,PXLW,CY,OVTI,
NUAN,CTXS,N,KONG,CMED,RT,LIZ,BOOM,
PAL,MFN,ACI.....
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, November 19, 2010
Indices closed green AGAIN...NICE !!!!
Indices closed green again despite negative news from China about 5th reserve increase in banking system.
Strength of any market is determined by how we trade in reaction to negative news & how we close.
Internals of the market were positive two days in a row.....
Stocks that were UP 2% or more included WYNN,LVS,CRM,
X,RVBD,NFLX,SOL,JASO,CRUS,SNDK,RIMM....
By noon Saturday,will list some trading ideas.
BLOG does NOT give buy or sell.
Saleem
Strength of any market is determined by how we trade in reaction to negative news & how we close.
Internals of the market were positive two days in a row.....
Stocks that were UP 2% or more included WYNN,LVS,CRM,
X,RVBD,NFLX,SOL,JASO,CRUS,SNDK,RIMM....
By noon Saturday,will list some trading ideas.
BLOG does NOT give buy or sell.
Saleem
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