I have been holding NOK for a long time bought at 16 and sold it yesterday .

Suddenly the price dropped and kept dropping for the last few days against the market’s Upward trend.

I totally agree with that the general public sentiment on the portable device has been moved to more sophisticated devices such as iPhone. Nokia is slowly dying.

Jul 21, 2009 (M2 PRESSWIRE via COMTEX) — MS | Quote | Chart | News | PowerRating — 21 July 2009 – Morgan Stanley downgraded the recommendation on Finnish handset maker Nokia Oyj (HEL:NOK1V) to “underweight” from “overweight” and slashed the share price target to EUR8.20 from EUR13.50.

The broker considers that competition will put Nokia’s margins under pressure and that the transformation into a service-oriented company had a bad start and will take time.

On Monday, shares in Nokia closed at EUR9.27, down 0.96% on the day, on the OMX Nordic Exchange in Helsinki.

Here is another interesting post – chart on Previous Cellphones IPhone 3G buyers.

This is a quality stock recommendation to buy when they are low and I totally agree.

Support = buying support ( where buyers are likely to be located ), Resistance = selling resistance ( where the sellers are likely to be selling ).

Visa Inc. (NYSE: V)- $60 – Love Visa long term – Support $64 and $62 which are the 10 & 50 day moving averages, Resistance $67.20 which was the June 12th high ( and 7/21/09 ) then $70.

MasterCard (MA) – $156 – Also love Mastercard long term – Support $169, Resistance 188.59 which was the late April high.

Potash Corp. of Saskatchewan, Inc. (POT) – $85 – Support $90, $85 – Resistance $97, $100

Apple (AAPL)- $120 – Support $143, $137, Resistance $158, $167
Palm, Inc. (PALM) – $13 – Support $13.33, Resistance $16.80
Research In Motion Ltd. (RIMM) – $60 – Support $74.30, $72, $69, Resistance $76-$77
Ford Motor Co. (F) – $5.30 – Support $5.80, Resistance $6.54 which is major resistance
First Solar (FSLR) – Close Above $150 – Looking to buy on a close over $150 resistance

Continental Resources Inc. (CLR) – Looking to buy below $25
Fuqi International, Inc. (FUQI) – Looking to buy between $15-$16
AgFeed Industries ( FEED ) – Looking to buy feed under $5
Fifth Third Bancorp (FITB)- $6
Huntington Bancshares Inc. (HBAN) - $3
General Electric Company (NYSE:GE)- Would love to buy General Electric near $10
STEC, Inc. (STEC) – Looking to buy STEC at the 50 day moving average = $21.10

I believe in long term investment. Please choose the stocks carefully and buy them when all the RSI7 values are lower then 30 and Hold.

Caracommunity.com –
Daily Report for Wednesday, Jun 17, 2009

According to Mr. Bill Cara’s today’s blog, he said that the people are pulling their bids because of the Obama Administration submitted white paper on Financial Industry Reform.

[7:52am ET] Technical analysts worldwide are reporting the breakdown of significant support levels, ie, a series of recent lows that brought in buying, which indicate that the equity market’s advance since early March is now over, and prices are most likely to slide into summer.

The weakness started a few days ago with alarming economic data, particularly in Europe, resulting in a decline in the Euro and rally in the $USD. The downward pressure on commodity markets and equity markets, which until now has brought in a pattern of buying the dips, suddenly took on a new light as traders pulled their bids. Possibly there was selling yesterday resulting from the uncertain reaction in Congress and on Wall Street to the Obama White Paper on Financial System Reform.

…

If bankers feel threatened by stricter guidelines and tougher regulatory scrutiny, rest assured they will voice their displeasure by pulling equity bids, aggressively pushing stocks lower, letting politicians know bankers hold the real power.

So are we supposed to be little cautious? Or hold on tight for another rough ride?