Indices are very close to making new HIGHS.....
All indices closed green without any help from Financials......
Gold had a record high close...
Worldwide markets are open on Thursday including Canadian markets open for full trading....
VIX went to new 52 wk low @ 20.05 ..closed @ 20.48
AH Futures are mixed..almost flat....
AH Nikkei UP .13%
AH Hang Seng Down .5%
Gold UP
Silver UP
In my portfolio :
Sold EXPE
Added 115% more TSL @ $43.28..my largest position....
Portfolio is AAPL,LVS,M,MRVL,SOLF,TSL....
Strong stocks included LVS,M,RCI,AGU,IPI,GOOG,BIDU,PWRD,
POT,IAG,GG,SLW,TLM,SOHU,JDSU,INCY.
There will be no post on Thanksgiving Thursday .....enjoy your time with family & friends.
Also there will be no post on Friday...as it is a Muslim holiday worldwide..where i have to go for prayer in the morning & be with family & friends whole day Friday....Back to normal 10AM post on Saturday with a list of "buy rated stocks".
BLOG does NOT give buy or sell.
Saleem
Wednesday, November 25, 2009
No new Highs in any Indices..so far ????
Markets had all the reason to shoot UP...BUT rally faded right after open.....we are slightly green in all Indices.....
Mortgage rates are hitting lowest point which should give lift to home builders???
Gold went to record all time time highs AGAIN UP $19.40 to $1185.20
Oil UP 81 cents
Canadian $ UP 71 tick as Russian Central Bank is adding CAD in their reserve to diversify away from US$...
VIX @ 20.22 @ new 52 wk low..was as low as 20.05 today
Portfolio is AAPL,EXPE,LVS,M,MRVL,SOLF,TSL....
@ 12.23 following are green :
EXPE,LVS,M,PWRD,POT,SLW,GOOG,BIDU,ISRG,
CMED,JDSU,INCY,AGU,MA,V,SOHU......
Happy Thanksgiving to all BLOG visitors.
BLOG does NOT give buy or sell.
Saleem
Mortgage rates are hitting lowest point which should give lift to home builders???
Gold went to record all time time highs AGAIN UP $19.40 to $1185.20
Oil UP 81 cents
Canadian $ UP 71 tick as Russian Central Bank is adding CAD in their reserve to diversify away from US$...
VIX @ 20.22 @ new 52 wk low..was as low as 20.05 today
Portfolio is AAPL,EXPE,LVS,M,MRVL,SOLF,TSL....
@ 12.23 following are green :
EXPE,LVS,M,PWRD,POT,SLW,GOOG,BIDU,ISRG,
CMED,JDSU,INCY,AGU,MA,V,SOHU......
Happy Thanksgiving to all BLOG visitors.
BLOG does NOT give buy or sell.
Saleem
Tuesday, November 24, 2009
Can we go to new highs in Market on Wed ????
IF we take the way we close today despite many weak stat & Fed minutes...it CAN be safe to assume that we SHOULD make new HIGHS on Wed......
Market IS showing tremendous resiliency DESPITE organized effort by Doug Kass,Robert Prechter,David Rosenberg,Guy Adami to poke hole into any good economic data and to stretch their imagination to "what could go wrong" Adami is hoping & praying for Iran & Israel to fight each other...what a desperate bunch they are??? They have NOT learned after all these years NOT to fight the TAPE? This bunch include so-called technician,fundamental analyst,economist & a very bad trader.....They must be lot poorer since July????
AH Futures are almost flat...
AH Nikkei UP
AH Hang Seng UP
AH Shanghai UP
AH Singapore UP
AH Gold UP
AH Silver UP
VIX closed @ 20.47 ..52 week low is 20.10...this is telling me that we are going HIGHER and VIX is going to teens which will be new low.....
BLOG does NOT give buy or sell.
Saleem
Market IS showing tremendous resiliency DESPITE organized effort by Doug Kass,Robert Prechter,David Rosenberg,Guy Adami to poke hole into any good economic data and to stretch their imagination to "what could go wrong" Adami is hoping & praying for Iran & Israel to fight each other...what a desperate bunch they are??? They have NOT learned after all these years NOT to fight the TAPE? This bunch include so-called technician,fundamental analyst,economist & a very bad trader.....They must be lot poorer since July????
AH Futures are almost flat...
AH Nikkei UP
AH Hang Seng UP
AH Shanghai UP
AH Singapore UP
AH Gold UP
AH Silver UP
VIX closed @ 20.47 ..52 week low is 20.10...this is telling me that we are going HIGHER and VIX is going to teens which will be new low.....
BLOG does NOT give buy or sell.
Saleem
Mild pullback on economic data & sentiment.....
Markets are digesting their high close of the year & reacting to economic data on GDP & home pricing plus sentiments reading......so far indices down .32% to .55%......not bad considering where we are......S&P still above 1100 !!!!
Gold UP $5.50
Oil Down $1.38
Canadian $ Down 42 tick
In my portfolio :
Bought SOLF @ $6.39
Portfolio is AAPL,EXPE,LVS,M,MRVL,SOLF,TSL....
@ 12.12 following are green :
M,AMZN,GE,NDAQ,CMED,IPI,VAR,SEED.....
BLOG does NOT give buy or sell.
Saleem
Gold UP $5.50
Oil Down $1.38
Canadian $ Down 42 tick
In my portfolio :
Bought SOLF @ $6.39
Portfolio is AAPL,EXPE,LVS,M,MRVL,SOLF,TSL....
@ 12.12 following are green :
M,AMZN,GE,NDAQ,CMED,IPI,VAR,SEED.....
BLOG does NOT give buy or sell.
Saleem
Monday, November 23, 2009
Dow closed @ new 52 wk HIGH...NICE !!!!
Dow was technically the strongest index @ close by making a new 52 wk HIGH.......
S&P 500 is only 7 points away from new high....
Highest % gains were recorded by Nasdaq +1.4% , S&P 500 +1.36% then Dow +1.29% @ close...
Gold was the superstar today jumping to $1171+ an all time HIGH....
Robert Prechter made his frequent appearance on CNBC AGAIN on Fast Money to highlight his FLAWED thesis since July..when he predicted that S&P 500 will reach its Peak @ 1000 MAX & will crash below March Low of 666 to S&P 500 to 400.....He also predicted back in July that Gold will CRASH & also PREDICTED that US$ will SURGE...so he has been WRONG on all 3 prediction since July...BUT after being WRONG 100% for last FIVE months ..he can still talk as IF he has been correct since July...only on CNBC where nobody has the GUTS to challenge his wrong thesis..On the contrary Adami has the nerve to say that he AGREES with his thesis NOT based on FACTS but on some convoluted logic only known to Adami???
In my portfolio :
Sold AUY....
Portfolio is AAPL,EXPE,LVS,M,MRVL,TSL...
Big gains were recorded by AAPL,EXPE,GOOG,BIDU,SEED,MA,AMZN,CSIQ...
BLOG does NOT give buy or sell.
Saleem
S&P 500 is only 7 points away from new high....
Highest % gains were recorded by Nasdaq +1.4% , S&P 500 +1.36% then Dow +1.29% @ close...
Gold was the superstar today jumping to $1171+ an all time HIGH....
Robert Prechter made his frequent appearance on CNBC AGAIN on Fast Money to highlight his FLAWED thesis since July..when he predicted that S&P 500 will reach its Peak @ 1000 MAX & will crash below March Low of 666 to S&P 500 to 400.....He also predicted back in July that Gold will CRASH & also PREDICTED that US$ will SURGE...so he has been WRONG on all 3 prediction since July...BUT after being WRONG 100% for last FIVE months ..he can still talk as IF he has been correct since July...only on CNBC where nobody has the GUTS to challenge his wrong thesis..On the contrary Adami has the nerve to say that he AGREES with his thesis NOT based on FACTS but on some convoluted logic only known to Adami???
In my portfolio :
Sold AUY....
Portfolio is AAPL,EXPE,LVS,M,MRVL,TSL...
Big gains were recorded by AAPL,EXPE,GOOG,BIDU,SEED,MA,AMZN,CSIQ...
BLOG does NOT give buy or sell.
Saleem
Dow @ new 09 HIGH....NICE !!!!
Futures were HIGHER from last night and then Housing data gave further boost......Dow @ new 09 HIGH...S&P 500 came very close to taking out old 09 high missed it by 1.31 point.....
US$ is weak again......
Commodities are HIGHER....
Gold UP to new all time record @ $1167.30
Oil UP $1.48
Canadian $ UP 1.35 cent against US$...94.80 cents US for 1 CAD.....
In my portfolio :
Sold GNK
Sold SLW
Bought TSL @ $44.80
Bought EXPE @ $ 25.68
Portfolio is AAPL,AUY,EXPE,LVS,M,MRVL,TSL...
@ 12.24 following are RED :
POT,M,LVS,GNK,NTES,AMTD,AGU,PALM,VLO,TKC,CIEN.....
BLOG does NOT give buy or sell.
Saleem
US$ is weak again......
Commodities are HIGHER....
Gold UP to new all time record @ $1167.30
Oil UP $1.48
Canadian $ UP 1.35 cent against US$...94.80 cents US for 1 CAD.....
In my portfolio :
Sold GNK
Sold SLW
Bought TSL @ $44.80
Bought EXPE @ $ 25.68
Portfolio is AAPL,AUY,EXPE,LVS,M,MRVL,TSL...
@ 12.24 following are RED :
POT,M,LVS,GNK,NTES,AMTD,AGU,PALM,VLO,TKC,CIEN.....
BLOG does NOT give buy or sell.
Saleem
Sunday, November 22, 2009
Option expiry & Thanksgiving are positive for Markets !!!!
Option Expiry & Thanksgiving are a positive mix for the markets.
We made higher HIGHS in market last week & sold off hard...this has repaired technicals & overbought conditions.
S&P 500 went to 1113.69 a new 09 high & higher highs on chart..an ascending pattern..sign of technical strength despite neutral economic data.....
S&P 500 is Down 2% from its peak & RSI is @ 54.60....this time RSI did not go higher than 65 area......so...the trading range IS narrowing which CAN trap some optimistic traders.....
S&P 500 50 DMA is 1070.36 which IS roughly 21 points from where we closed on Friday......so there is always a risk that we test 50 DMA.......which will be a potential correction of 3.9% ????
Where are the opportunities in this market.....Gold,Silver,Ag,Shipping & Tech are looking ready to make another run UPWARDS......Solar MAY take a rest as their RSI are in deep overbought territory???
Here is my $ allocation @ Friday's close :
AAPL 26.20% Tech PC/Smartphones
GNK 22.95% Bulk Dry Shipping
M...11.22% Retail Department Store
LVS..10.72% Casino Operator
SLW.10.22% Silver Reseller
MRVL 10.01% Tech PC/Smartphones
AUY ..8.68% Gold Producer
As you can see I follow strict discipline in being diversified..which I highly recommend for everyone especially @ current elevated levels....
I will continue to trade out profitable positions & buy laggards based on RSI.....do NOT be complacent in this market as shorts are ready to pounce on any weakness....so stay alert !!!!
I will also book some loss to offset my gains for the year for tax purposes as capital gains are taxed @ 50% in Canada ..no matter IF you sell in 1 hour or 5 years.....tax treatment do not change.
Good luck on your strategy & comfort level with this market.
BLOG does NOT give buy or sell.
Saleem
We made higher HIGHS in market last week & sold off hard...this has repaired technicals & overbought conditions.
S&P 500 went to 1113.69 a new 09 high & higher highs on chart..an ascending pattern..sign of technical strength despite neutral economic data.....
S&P 500 is Down 2% from its peak & RSI is @ 54.60....this time RSI did not go higher than 65 area......so...the trading range IS narrowing which CAN trap some optimistic traders.....
S&P 500 50 DMA is 1070.36 which IS roughly 21 points from where we closed on Friday......so there is always a risk that we test 50 DMA.......which will be a potential correction of 3.9% ????
Where are the opportunities in this market.....Gold,Silver,Ag,Shipping & Tech are looking ready to make another run UPWARDS......Solar MAY take a rest as their RSI are in deep overbought territory???
Here is my $ allocation @ Friday's close :
AAPL 26.20% Tech PC/Smartphones
GNK 22.95% Bulk Dry Shipping
M...11.22% Retail Department Store
LVS..10.72% Casino Operator
SLW.10.22% Silver Reseller
MRVL 10.01% Tech PC/Smartphones
AUY ..8.68% Gold Producer
As you can see I follow strict discipline in being diversified..which I highly recommend for everyone especially @ current elevated levels....
I will continue to trade out profitable positions & buy laggards based on RSI.....do NOT be complacent in this market as shorts are ready to pounce on any weakness....so stay alert !!!!
I will also book some loss to offset my gains for the year for tax purposes as capital gains are taxed @ 50% in Canada ..no matter IF you sell in 1 hour or 5 years.....tax treatment do not change.
Good luck on your strategy & comfort level with this market.
BLOG does NOT give buy or sell.
Saleem
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