Greetings,
The market ended the week with a quiet, but successful session indicating that it may be fertile for another push up next week. With the holiday weekend ahead many traders called it a week last Thursday so they wouldn't leave too many open positions over the long three-day weekend. Notable trends last week included the resurgence of oil prices and indicators pointing to a controlled inflation environment. Also, of importance is that the market held on to gains made earlier in the week.
I was able to buy EBAY on Tuesday for $36.68 and sell it a day later on Wednesday (after an analyst upgraded the stock) for $37.70. So, in less than twenty four hours i made a nice gain of $1.02 per share.
I tried to buy Yahoo on Wednesday but I missed my buy price by a few pennies. This turned out to be unfortunate as Yahoo closed out the week about a dollar higher than my buy price.
Other positions I hold continue to slowly make up lost ground. Those positions include TEK, MSFT, WMT, and CSCO.
Next week several reports of significance include a consumer confidence report due out Tuesday and a jobless claim report due out Thursday.
I will be closely watching GE, YHOO, EBAY as well as the oil stocks for pullbacks and entry points.
Have a great weekend!
Anthony
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