You guys need to have already started nibbling into stocks.
The selloff last week came with so much fear and volume that it may have been the ultimate bottom. There might be some more bad news in the next few weeks regarding subprime and bank and hedgefund failures but the fed is letting us know that they are taking a very proactive stance against the credit crunch. You just can't go against the fed and go all out shorting the market. Many very smart traders have had their bungholes widened fighting the fed throughout the decades.
posted by beanie11111 | 12:32 AM
74 Comments:
Beanie,
you mean it's time to buy now?
oh my god, where were you the whole week? We are nearing retest of the high. Let's see if we take it out next week. Buy on a pullback or buy at a break above 14,000 on the Dow.
Some stocks near 52 week highs you might want to look into:
PCLN
RIMM
CTRP
VMW
EMC
*GOOG - while not at highs is too cheap to ignore.
Beanie,
I did well trading on volatility on AAPL and SPWR. I bought and sold AAPL
112-117, 119-126, 121-128. My last buy on 60 shrs of spwr was at 61.98 and will hold it long term.
So you really think buyers are coming back to the market. I really hope you're right because I never short a stock, nor do options.
I did miss entry on VMC and I think I might have miss the boat now, it's beginning to be too high to get in.
markets retest of highs next week or even 2 weeks? no way
markets are due for two consecutive down days at least
AA aint going to its inflated value of 45 and GS back to 225
there are so many wounded stocks that these indicies have very limited upside right now at current values
no way Tech at or near 52 week highs gonna make up for all that.
market action Froday was very similar to before July 4th when all the sellers were on vacation and shorts got smoked. rebound in oil didnt help either.
i did well on Friday except got smoked with my BCSI short...gonna be patient and hopefully it drops 5% next week
Beanie,
Could you please comment in a little bit more detail on the prospects of Solar stocks, especially ENER, JASO and TSL. After all we have heard so much from you about this sector and I am NOT saying this in any negative way - just wish to know your latest view on the situation. Thanks.
CMS
I forgot to mention CSUN. That ripped me a new one! OUCH!!
If the real JakeGint is still around, can he do the fibs on NYX? Will be much appreciated, thanks!
I’m abandoning my IWM, short sell at $80 = 200 day , this week, because ahead of labor day holidays, historically, the market does fairly well, so i think IWM has a chance to get to 81 or even 82 =( gap down test)....
ENER reports aug 29
NYX , 200day= 88...at least makes it to 80....
BUY UNG SEPT 32 CALLS AT 35.6 AND SELL 37.2..Then buy them again and HOLD HOLD HOLD....african hurricane coming before options expire...(it's really wet in africa, right now)
ZEE
on another note, (further out than this week, )...gosu's buy sept 30th, comment, is now 70/30 in my estimation...FED will probably mess up SEPT 18 meeting...so VIX at 17 possible, next week or so, then a return to the mid 30's likely...
This blog is a joke. I'm outta here!
CMS
Hi Everyone,
I have been following this blog for a considerable time but post very rarely. I do not wish to get into any arguments whatsoever, but would wish to clarify that the following post WAS NOT BY ME:
'This blog is a joke. I'm outta here!'
===================================
SOLAR ENERY STOCKS
I did put in a request to Beanie to enlighten us in detail what he thinks about solar stocks esp. ENER, JASO and TSL. Many like me must have bought these stocks and still hold them. Beanie, would appreciate your feedback.
CMS
I am a joke and no one cares if I am here or out of here.
CMS
Solar sector is best in the future because the oil peaked for several years now. The wholw world is working on alternative energy to overcome the future oil shortage. The solars are most fast growing sector because the governmemt of every country in the world supports solar. you have to be patient and hold tigh the positions you have. Chinese solars have more advantages than american because much lower cost of labers.
CMS,
Here's my take on Solar Stocks, I only have SPWR I bought at 61.98. Most are overpriced. SPWR have trailing PE of 281 but next year's PE is around mid 30s. So if you want to buy some, buy on every dip, average out by buying and holding, sell when it's overpriced or if fundamentals are declining like what happened to CSUN. Good luck.
CMS,
Best value solar stock is YGE not SPWR. YGE has $84.04 mean & $153 high 1 year target pric. SPWR only has $74. You can check online, recently institutional position increased from 6% tp 23%. Deuch bank alone added YGE positions of 7% of YGE shareholds.
Just a brief update.....
INDU has carved out a nifty 4 waves on this move off the high.
We could be putting in a wave 4 top on this move with yet a lower low to come down near the 12,000 mark.
Watch this.
13371
13402
13482
13550
We could top at any of these 4 critical technicals and still be a wave 4 top. IF WE FAIL to take out 13695 get the hell out of your longs!
West
Anon,
You're right YGE is a better value. I did not recommend CMS to buy SPWR- I just said it's the only solar stock I have- because I feel safer holding it really long term than any Chinese Solar stocks.
West - I appreciate the technicals - a lot of time put into it. one question on the China front: what is the weekly technical you are looking for to indicate a downward turn?
I missed Friday's gains sitting on the sidelines. I'm in the camp with you and Gosu that says we have one more leg down to go.
stockkid
listen folks
dont get too bullish
on a daily basis, markets react to economic data
nearly all of august data reported in next 4 weeks will be bearish
sgv,
Why you feel safer in SPWR than Chinese solars? You should feel safer in chinese solars considering their growth rate and chinese GDP growth rate and Chinese government's support. When American economy slowed down since this year and years ahead you should be in Chinese stocks. Only Chinese market is big enough for them to make money plus they all have good reputations in Europe. YGE build gernamy olympic statium solar system. That's why they gain more and more market shares in Europe. And EM secret strategy is to build as much as alternative enerys to overcome oil shortage in the near future.
these asian markets are so overbought
HANG SENG is up like 20% from the intraday from its low less than 2 weeks ago
its the equivalent of being near DOW 13850 now
dont expect US markets to follow with this extreme overbought condition
Hi Everyone,
I thank all friends including SGV and Anon who contributed their valuable opinion on Solars.
Would still appreciate comments from Beanie who must be studying the situation on an ongoig basis.
CMS
Morning guys...
Keep an eye on ABB this morning.
anyone see this yet? put interest...impending doom? must read:
http://www.slopeofhope.com/2007/08/good-morning.html
Today is all about CROX baby.
There are a lot of bears on this site who missed the bottom.
HD looks like a good long term buy to me.
CROX baby. Beanie please don't jinx me and recommend CROX.
Instead please say it's a sell.
Buy the morning dip, ok?
hey beanie,
please let us know when to get in on crox during the morning dip. please.
LMAO!!
NVDA. Is this the run prior to the split or could NVDA, through it's Portalplayer acquisition, be in the next generation IPOD?
Any thoughts?
Is that Beanie posting as anon and recommending CROX? LMAO...
So much for mocking Beanie, my CROX post this morning is making me look like sh*t
Dude, dump CROX and get into something hot like CPSL. Thats what I did!
CPSL? Sorry I don't do stocks under $10 bucks.
Beanie, in all fairness....
Great call on VMW....
See you all in a week, market worthless near term.
Never seen so many conflicting technicals.
West
yep looks like a nice week to take a bit of time away from the screen...we should have a better picture come next week...
Hi Beanz and all,
Strange day. I ended up doing superglue surgery on the head of a high value sculpture that just crossed the country :) Pamfla
Conflicting Signals???
Buddy I am getting only one signal - stay away or short.
Go long if you may, near September 30, 2007.
beanie...some words please....
shud i hold CSUN ? holding since 12.78
I bought the TSL sept 35 call for 6.60 / 7.00..i guess TSL hold $40...
zee
Beanie had a great call on Bidu as well, if you backed up the truck at 180 u'd be quite happy now, though you had opportunity to back up the truck at 165 as well.
solar next 50 years...maybe ..global economy will spend 7 trillion = on solar, ...so 7 billion this year to 7 trillion thru 2057
zee
anyway that's a number that's getting thrown around....35% year to year growth over the next 50 years...
Tsl broke 40 zee, but will probably hold 38..... 35 calls are good
CSUN at $5 is a steal...its called robbing the blind...i’d do as much dollar cost averaging as i could at $5....CSUN definetely makes it back to up to $7.80 minimum..short term....and 12.50...by dec...
zee
Lane...
If you are still interested in that NYX request.
My fibs start at the 6/14/06 lows and reach to the 11/22/06 highs, and using those parameters NYX is currently sitting right on it's 61.8% retracement line. If it busts below 73.10 (about where the line is on my drawing), it could be in for considerably more trouble. Next stop looks like about $68.00.
Beanie,
Great call on BIDU. Too bad I don't own any. VMW continues to shine.
ACH AND LFC action is nuts with these chinese stock market games
they'll be up 10-20% each tomorrow
well ACH could have been up as much as 83 but sold off heavily in HK
and LFC never reached par with America
darn i was gonna short it but wanted it to hit 80 first
Whos your daddy?
gosu said...
Conflicting Signals???
Buddy I am getting only one signal - stay away or short.
Go long if you may, near September 30, 2007.
Mon Aug 27, 03:35:00 PM EDT
Gosu's my daddy!!
Another spot-on call, Gosu!
Hi Eveyone,
Have a close look at a penny stock - IMGR and see if you would like to take a bite!
CMS
market should start an afternoon rally into FOMC minutes
To show our appreciation to Gosu for everything he's done for us, we dedicate this song to him:
GO-SUUU, GO-SUUU!
We all LOVE UUU!!
You saved us from the Bear
Which gave me a big scare!
GO-SUUU, GO-SUUU!
Thanks for being UUU!! :)
VMW a great buy.
69.5
why dont anyone dedicat a song to me?? :(
Pamfla
LMAO !!
I sure like APA and EOG + UPL nat gas stuff, but i think i can get a better price if i wait till tomorrow...too many companies at
RSI 34, which is jinx to me,(bad), cause those things always go to rsi 30 the next day....(rsi 34 down to rsi 30 = 2 to 3%)
zee
STP close to $33 my entry price...
CSUN close to $5....looks good
TSL ...if it's down tomorrow...back the truck in...clasic down up down candlestick signal, spells rally...
the minutes from the last Federal Open Market Committee just over the horizon at 2:00 p.m. Eastern time.
Looks like TSL is holding 40 well, Zee..., but we'll see... I am not so sure about Csun.., I am not buying it at 5, I rather buy TSL.
Why Beanie is so silent when the market is down ?
very easy to predict market day
my BCSI pulled back 5%.
cmon folks SPY 137 to 148.5 without a pullback
decent 4 pt drop so far
im long some MA into the close
willing to hold overnite if needbe
sold out of my MA and bought lower
this day reminds me of that FEB crash end of day where it just went down and down with no a single buyer but today is a bit slower
AUG 28 TUES
LEN CTX AND RYL look like buys, at these lows....i’ll wait till tomorrow , i might get a better price, which translates to DOW at 13,000 might be good support ( psychological)
Buying APA NOW....just won’t participate in the downturn...keeps going up...from 200 day at 73.5
XHB sept 22 calls 2.20/2.30 look good...housing...close to the bottom...start nibbling...
zee
Z, Sept call has less then one month to recover.. do you think market will recover in next three weeks?
great day but should have made twice as much
played ACH long from 60.50 up
should have been playing it down from premarket at 90
o well
hey JET, i got out of TSL at today's top then last minute got back in... TSL merry go round...
i think i can risk going long till FRI, that's when BEN might crash everything at Jackson Hole....
anon
i'll switch to OCT calls next week.or so
zee
as far as market...VIX just got volatile again..(volitile = big moves either direction...no more little moves...
Zee, I am still holding some TSL from upper 40s, usually I go for the long or immediate term, so I havent yet to average down yet. Dont know what will happen tmr to the market at all.
Well ,so much for that 'near-term' fed induced market recovery.Lots and lots of problems to work through !! Cramer should commit suicide...literally !
i meant 70 not 90 on ACH
cant wait to see Cramer tonight
i hope one day someone calls him on the phone and curses him out because "he [Cramer] knows nothing"
DOW 14500....not anytime soon
NO WAY DOW GOES BELOW 12,800 OR QQQQ BELOW 45.5 IN THE SHORT TERM...you have got to see the QID...QID at 49.3 is a perfect short sell with the odds 9 to 1 in my favor.....i rest my case...
zee...
see my blog if you still doubt me....
TSL will be back up in the 50's, before you can sneeze properly...
zee
Post a Comment
<< Home