Greetings,
Currently I have four open positions. They include INTC, CSCO, MSFT, and WMT.
Last week I was able to create another winning trade. I bought MOT at $17.94 per share and within two days I was able to sell it for a 50 cent gain at $18.44.
Last week I wrote that WMT and HD were at very high price levels and that their earnings reports were due out on Tuesday. I also said I thought there was not much upside even if they had good reports because they were already so high priced. WMT's earnings report and forecast were good and the stock still dropped a dollar. I thought since the news was out and the stock had already reacted I would go ahead and open a position. Then later, Sears and K-Mart announced their merger which caused WMT's stock to drop further. Thus the stock is down at this time and I did exactly what I said I wouldn't do last week.
INTC showed some upward momentum and made up some lost ground this past week almost reaching the $25 dollar mark only to fall back near the $24 dollar mark at week's close. Allan Greenspan's speech on Friday caused the market to fall and allowed me to open a position with MSFT at $26.91 per share.
A year end mini bull run could shake off last week's weak ending to regain it's momentum. My feel is that with any good news the market will react strongly. We'll see.
Have a great week,
Anthony
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