Market is trying to digest European debt crisis, which has resulted in lower Euro = Higher US$..
This is the reverse of what was happening before when US$ was heading lower & lower......
Considering the above chaos in currencies,S&P 500 seems to be holding its own.S&P 500 closed @ 1180.55,low @ 1174.14 while 50 DMA is @ 1178.07........
So far the technical picture is intact,while declines were in the lead in all indices by a ratio of over 2 to 1 on the downside.....
Wed close should end the debate IF this correction is over.....
Chinese PMI came in better than consensus.....actual 55.2 vs expectations of 54.7......
Chinese input cost were hotter @ 73.5 vs 69.9 previous month.....this is like PPI...which puts inflation hotter & MAY result in further tightening.
In my portfolio :
Sold NFLX
Portfolio is AUY,BIDU,FFIV,JKS,AAPL,AMZN,LVS...
Stocks which were UP 2% or more included AUY,NFLX,SLW,ISRG,TCK,
RIMM.....
Solar stocks were in deep trouble thanks to Euro weakness..some were down from 7% to 9%...
AH Futures Mixed
AH Asian markets Down
AH Oil UP
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
Tuesday, November 30, 2010
Higher lows in S&P 500.....Technically strong picture !!!!
S&P 500 is making higher lows two days in a row,now making a run for green...
Bull market TAPE is always like this ,weak in AM then getting stronger by close.
Gold UP $22.70
Oil Down 46 cents
Canadian $ Down 57 tick @ 97.52 due to weak Canadian GDP....
Portfolio is AUY,BIDU,FFIV,JKS,AAPL,AMZN,LVS,NFLX
VIX 22.48 UP 4.41%
@ 1.29 following are green :
NFLX,AUY,LVS,WYNN,SLW,POT,TCK,
ISRG,M,X,GG,MA,LEN,CTRN,LULU,
AEM,ABX,RIMM.....
BLOG does NOT give buy or sell.
PS..was tied up in phone calls,thus delay in posting.
Saleem
Bull market TAPE is always like this ,weak in AM then getting stronger by close.
Gold UP $22.70
Oil Down 46 cents
Canadian $ Down 57 tick @ 97.52 due to weak Canadian GDP....
Portfolio is AUY,BIDU,FFIV,JKS,AAPL,AMZN,LVS,NFLX
VIX 22.48 UP 4.41%
@ 1.29 following are green :
NFLX,AUY,LVS,WYNN,SLW,POT,TCK,
ISRG,M,X,GG,MA,LEN,CTRN,LULU,
AEM,ABX,RIMM.....
BLOG does NOT give buy or sell.
PS..was tied up in phone calls,thus delay in posting.
Saleem
Monday, November 29, 2010
Only .14% to .37% pullback @ close...NICE !!!!
This bull market showed its resiliency again by erasing most of the losses by close.How we close is absolutely critical in any market.
S&P 500 found support above previous low of 1173......we closed @ 1187.76..RSI @ 49.17.
S&P 500 also closed above 50 DMA of 1177.31.....we have NOT closed below 50 DMA since end of August......
Today had the feel of selling getting exhausted.Buying on weakness is a strategy which i have followed & stocks that are NOT working out as planned should be sold.
In my portfolio :
Bought LVS @ $49.50
Portfolio is AUY,BIDU,FFIV,JKS,AAPL,AMZN,LVS,NFLX......
As you can clearly see, that i have high comfort level with this market.Sometimes i get sloppy with some weak stocks then wake up on a day like today to prune them out.Another strategy which i have been very successful is to trade in & out of many strong stocks which has high volatility like AAPL......
SO IF you are tracking my portfolio, please keep in mind that i may sell into strength or IF i find a better trading idea.It is never a reflection about how i feel about that particular stock,I may buy the same stock next day IF price is right based on charts.
This market is like dot.com days of 1998-2000,thus trading extremely high beta stocks are highly desirable...that is what i am getting into.High RSI are not necessarily bad in this type of market.
Strong stocks which were UP 1% or more included AMZN,NFLX,SLW,IBN,X,CREE,TCK,BAC,
NVTL.....
Before open TSL reports,expecting a beat & upbeat commentary about upcoming Q & higher guidance......
AH Futures Down
AH Asian markets Down
AH Gold,Oil Down
AH Silver UP
BLOG does NOT give buy or sell.
Saleem
S&P 500 found support above previous low of 1173......we closed @ 1187.76..RSI @ 49.17.
S&P 500 also closed above 50 DMA of 1177.31.....we have NOT closed below 50 DMA since end of August......
Today had the feel of selling getting exhausted.Buying on weakness is a strategy which i have followed & stocks that are NOT working out as planned should be sold.
In my portfolio :
Bought LVS @ $49.50
Portfolio is AUY,BIDU,FFIV,JKS,AAPL,AMZN,LVS,NFLX......
As you can clearly see, that i have high comfort level with this market.Sometimes i get sloppy with some weak stocks then wake up on a day like today to prune them out.Another strategy which i have been very successful is to trade in & out of many strong stocks which has high volatility like AAPL......
SO IF you are tracking my portfolio, please keep in mind that i may sell into strength or IF i find a better trading idea.It is never a reflection about how i feel about that particular stock,I may buy the same stock next day IF price is right based on charts.
This market is like dot.com days of 1998-2000,thus trading extremely high beta stocks are highly desirable...that is what i am getting into.High RSI are not necessarily bad in this type of market.
Strong stocks which were UP 1% or more included AMZN,NFLX,SLW,IBN,X,CREE,TCK,BAC,
NVTL.....
Before open TSL reports,expecting a beat & upbeat commentary about upcoming Q & higher guidance......
AH Futures Down
AH Asian markets Down
AH Gold,Oil Down
AH Silver UP
BLOG does NOT give buy or sell.
Saleem
S&P 500 made double bottom ?
S&P 500 went down to 1173.64 higher than previous low of 1173......maybe we have a double bottom....
YES..it is all about European Debt.......
Gold UP $3.40
Oil UP $1.37
Canadian $ Down 12 tick @ 97.72
In my portfolio :
Sold AGU
Sold WYNN
Bought AMZN @ $179.80
Bought AAPL @ $313.59
Doubled my position in JKS @ $25.83
Portfolio is AUY,BIDU,FFIV,JKS,AAPL,AMZN,NFLX....
Most stocks are down
VIX @ 22.95 UP 3.29%
@ 12.16 following are Green :
NFLX,AMZN,AUY,SLW,FMCN,SINA,
CTRN,AEM,SNE,GS,IBN...
BLOG does NOT give buy or sell.
Saleem
YES..it is all about European Debt.......
Gold UP $3.40
Oil UP $1.37
Canadian $ Down 12 tick @ 97.72
In my portfolio :
Sold AGU
Sold WYNN
Bought AMZN @ $179.80
Bought AAPL @ $313.59
Doubled my position in JKS @ $25.83
Portfolio is AUY,BIDU,FFIV,JKS,AAPL,AMZN,NFLX....
Most stocks are down
VIX @ 22.95 UP 3.29%
@ 12.16 following are Green :
NFLX,AMZN,AUY,SLW,FMCN,SINA,
CTRN,AEM,SNE,GS,IBN...
BLOG does NOT give buy or sell.
Saleem
Sunday, November 28, 2010
Will Europe & Korea put pressure on Wall Street?
Wall Street is bracing for European debt crisis to boil over & Korean peninsula to light another fire......
I personally believe that Wall Street last week showed tremendous resiliency even in thin trading.....
Wall Street lost about 1% for the week when faced with news from China,Europe & Korea.....that is saying a lot about the strength of this market.....
Retail sales picture will play a larger role in how we trade next week......
Even when we are facing slight downward pressure in market, many strong stocks are making new highs.....
As this IS a strong bull market,buying strong stocks on down days are proving to be a smart move.....so any weakness should be bought.
IF we look @ S&P 500 i expect it to find strong support in 1170 area..RSI @ 49.90 is quite compelling.S&P 500 closed @ 1189.40
Retail traders have remained negative on the market & has pulled cash out for 28 straight week..latest week they pulled $2.8 billion in cash......it is hard to interpret why retail are so negative for 7 months while markets have gone straight UP from May low of 1010.91.Retail are a real contrary indicator...???
Hedge funds have been marking time also & MAY jump in when they feel markets is not going lower...could be a very strong finish to end of the year...i am expecting new highs in S&P 500 & Dow by end of December......
IF you are trying to analyze this market & draw a comparable...look to 1998 to 2000 chart of Nasdaq when Nasdaq went from 1500 to 5000 area in a span of two years......no markets are identical but can give you some idea.......
Technology stocks are making all time highs on a daily basis & should continue to do so......
SO..either you can worry all about Europe & Korea or use any weakness to position in better stocks.......
December will be a very strong month on a historical basis.
Ensure that your portfolio is positioned for strong gains.....
Good luck with your OWN strategy & homework.
BLOG does NOT give buy or sell.
Saleem
I personally believe that Wall Street last week showed tremendous resiliency even in thin trading.....
Wall Street lost about 1% for the week when faced with news from China,Europe & Korea.....that is saying a lot about the strength of this market.....
Retail sales picture will play a larger role in how we trade next week......
Even when we are facing slight downward pressure in market, many strong stocks are making new highs.....
As this IS a strong bull market,buying strong stocks on down days are proving to be a smart move.....so any weakness should be bought.
IF we look @ S&P 500 i expect it to find strong support in 1170 area..RSI @ 49.90 is quite compelling.S&P 500 closed @ 1189.40
Retail traders have remained negative on the market & has pulled cash out for 28 straight week..latest week they pulled $2.8 billion in cash......it is hard to interpret why retail are so negative for 7 months while markets have gone straight UP from May low of 1010.91.Retail are a real contrary indicator...???
Hedge funds have been marking time also & MAY jump in when they feel markets is not going lower...could be a very strong finish to end of the year...i am expecting new highs in S&P 500 & Dow by end of December......
IF you are trying to analyze this market & draw a comparable...look to 1998 to 2000 chart of Nasdaq when Nasdaq went from 1500 to 5000 area in a span of two years......no markets are identical but can give you some idea.......
Technology stocks are making all time highs on a daily basis & should continue to do so......
SO..either you can worry all about Europe & Korea or use any weakness to position in better stocks.......
December will be a very strong month on a historical basis.
Ensure that your portfolio is positioned for strong gains.....
Good luck with your OWN strategy & homework.
BLOG does NOT give buy or sell.
Saleem
Saturday, November 27, 2010
Buy rated stocks.....
Following stocks are flashing buy signal.Please do your OWN due diligence by checking FA/TA/TAPE.
JDSU,MELI,DAL,UAL,KNOT,MIPS,
DNN,NCTY,RMBS,SIMO,HST,KKD,
NUAN,SNDK,NM,RBY,LTXC,USU,
AAU......
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
JDSU,MELI,DAL,UAL,KNOT,MIPS,
DNN,NCTY,RMBS,SIMO,HST,KKD,
NUAN,SNDK,NM,RBY,LTXC,USU,
AAU......
Next post by noon Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, November 26, 2010
Europe & Korea caused negative close....
Indices closed down .34% to .85% based on renewed fear about Debt in Euro Zone,Korea also played a role in downward pressure.....
Gold Down $10.00
Oil Down 8 cents
Canadian $ Down 99 tick @ 98.06
VIX UP 13.6% @ 22.22
In my portfolio :
Sold AAPL
Sold LVS
Sold 50% AGU
Bought JKS @ $27.00
Bought NFLX @ $188.60
Portfolio is AGU,AUY,BIDU,FFIV,JKS,NFLX,WYNN
Most stocks were Down
@ close following were UP :
NFLX,BIDU,CRM,AKAM,FFIV,AAPL,
JDSU,FNSR,ARUN,MGA,JRCC...
BLOG does NOT give buy or sell.
PS...Next post by noon Saturday.
Saleem
Gold Down $10.00
Oil Down 8 cents
Canadian $ Down 99 tick @ 98.06
VIX UP 13.6% @ 22.22
In my portfolio :
Sold AAPL
Sold LVS
Sold 50% AGU
Bought JKS @ $27.00
Bought NFLX @ $188.60
Portfolio is AGU,AUY,BIDU,FFIV,JKS,NFLX,WYNN
Most stocks were Down
@ close following were UP :
NFLX,BIDU,CRM,AKAM,FFIV,AAPL,
JDSU,FNSR,ARUN,MGA,JRCC...
BLOG does NOT give buy or sell.
PS...Next post by noon Saturday.
Saleem
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