Greetings,
Currently I have four positions open. They include DELL, INTC, GIS, and CSCO. I did not open any new position this past week. I am hedging just in case there is a major drop in the market due to any election irregularities. If you remember the last election when there was a recount in Florida and weeks of delay to determine the new president there was also a major sell off due to the uncertainty. The election appears to be so close that potentially we could experience the same scenario. On the other hand, if there is distinct, clear outcome Tuesday night the market may respond positively. We'll see, I'd rather take a more conservative approach.
Last week the market had some good positive gains due to a drop in oil prices and good earnings reports. All my positions ended the week with good gains as a result. I was able to sell one position for a 60 cent gain. I bought WMT at $52.22 and sold it at $52.82 as it shot up to $54.00 dollars per share.
This week as you know will be very interesting. Obviously, oil prices and earnings will help determine the direction of the market, but the election results will certainly be the major influence this week. If for some reason the market drops significantly I will be looking for an entry point to open new positions and treat the drop as a buying opportunity.
Have a great week,
Anthony
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