Greetings,
During this past week the Tech sector had an upward surge allowing me to sell my position in DELL for another winning trade. January has been a difficult month in the stock market as a whole making it tough to get any positive gains. It has been reported that the buying volume has been significantly down. Thus, any winners or gains are especially sweet. In time the market will return to its normal levels of buying and selling. I purchased DELL at $40.28 per share a couple of weeks ago and sold it this week at $40.88 for a gain of 60 cents or a 1.49% return. I'll be looking to buy DELL once again when it falls back down to the $40.00 dollar level.
Currently I have five open positions. They include WMT, CSCO, AMAT, TEK and MSFT. Next week could be very positive for the market if the Iraq elections occur without any major problems. As you know this election is of major historical and political importance to the world and our future. The initial reaction of a positive election process could boost the markets. Bottom line next week will be the tone setter, the Iraq elections, then earnings and oil prices will move the markets as well.
MSFT reported good earnings last Thursday and opened strong on Friday, but the whole market declined as the closing bell approached taking the wind out of MSFT's sails. It could bounce right back up if we get a boost in the market from the elections and hopefully I'll be able to sell it for a profit. Remember my concept is to buy quality stocks on weakness and to sell on strength over and over again. If the market goes against me at least I own quality investments that at some point in the future will rebound versus a weak speculative type stock or an option that loses its value as time passes. The key is to invest in quality stocks, money management, patience, and discipline. There will be times when winners are slow to come by and then you'll have a great streak of winners. At the end of the day, you'll end up with many more winners than losers.
Have a great week,
Anthony
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