I woke up this morning with a knock on the door. It was a `bull' and its grunt was sanguine to say the least. Come on cheer up- will be your turn soon I said and I sent him to run for the upcoming rally.
Kudos to mona's call- I shall humbly proclaim. To sell gold and oil just before they started retreating, she probably has a crystal ball if not a keen insight into the mad market moves.
Gold peaked at 850 last week right on the mark... give or take a buck. And its down to 810 or so... Did anyone know that it was DIWALI last week and all of India was buying gold- a strong humumgous population... buys precious metal during diwali- if demand had a role to play in the price of gold... last week was one demanding week I guess. That, apart from the huge rally that gold has seen this year...is what nudged me to be bold enough to say- gold peaks for now. And
am happy with my call and our selling GG and NEM (gold stocks) last week at great prices- 37 and 55... both are down big time today. Am I a buyer, not yet.
Oil retreating was another good call. Our short positions in XOM and SLB (oil service) are making good money. We take profits sometime this week.
I am also overwhelmed on the financial and retail side, to have picked the bottom on COACH- and JWN (Nordstrum). We bought while others were sighing and sulking...-got them under 32 last week. COH is up 2 bucks...to 34.65 and JWN up 1.70 to 34 and change. CITIGROUP is up 2 bucks to 35. We are in it at an avg price of 32.5. I have my order in to sell all three (COH, JWN and C) at 36... this week. Once those orders get filled we will move on to greener pastures. Am holding onto TGT -its still languishing at 57.5... will sell above 60 this week or hold on...depending on sentiment.
Am adding LOW (Lowes) to our retail picks at 24.50. EBAY looks good again at 33. For a year end rally, these are safe.
I have been talking of INFY- its at a 52 week low of 41... may get it a buck cheaper... or if it breaks 40... will scream for a buy on that one... This is the Indian ADR punished due to currency woes- the rupee appreciation gnaws at its profits- that woe is in the stock price already- and once it bottoms ... this one will fly fast. Am buying some today at this level- 41 and wil buy more if it breaks 40.
Thats it for today. Good luck all. Follow the money and it follows you. Watch out for the bull I sent out today... Hush...Growl ohhooooo...
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment