|
|
stock market, stock market
[Weekend Summary]
Dear Member:
I can only speculate what would have happened Tuesday if the Fed had not acted to reduce rates substantially. In a sense, at least, it was a capitulation day, but late action Friday suggests there may well be more downside to come. The Dow has managed to hold at the 12,000 level and was actually up modestly for the week. The S&P 500 held at the 1300 level and wound up about flat for the shortened week. The Nasdaq Composite has been able to hold its head above water at the 2300 level. Interestingly, the homebuilders showed some renewed life this week with the reduction in interest rates. All in all, the markets remain volatile and I would definitely not be surprised to see a further drop to shake out the market before the next upturn. It is time to keep powder dry or at least exercise great care in entering and protecting positions.
As I've been writing recently, it can be difficult to find the right cheap stocks in this kind of market, but I did find a good one in JER Investors Trust (JRT) this week. I made a fast trade, in one day and out the next, to grab a 4.3% gain before the small commission in one day.
Meanwhile, my position in Blackrock Sr Hi Inc Fd (ARK)also gained ground as it continued to move up the trend line while continuing to pay generous dividends monthly.
Sypris Solutions (SYPR) slid along with the markets, and has given a minor indication that it may be on the verge of turning back up. Introgen (INGN)continues sideways as final phase testing on one of its cancer treatments continues.
With a nice profit this week in JRT, I am hopeful that we will see a market upturn that should provide many opportunities in the $10 and under category. Stock selection and careful entry should provide the keys.
Thank you for subscribing and have a wonderful weekend.
Bill
|
Home |
Subscribe |
All Rights Reserved |
Privacy Policy |
Advertising |
Contact Us |
Terms of Use |
Disclaimer |
Links
|
stock market
stock market
|
