|
|
trade stock, stock market today
[Weekend Summary]
Dear Member:
Volatilities were down a bit today, but have continued to be pretty wild which often signals market decline. Today the Nasdaq Composite and the S&P 500 reached up near the top of the consolidation channel that began this month. The Dow was up strongly today, but has not yet broken up through the down trend line though it is now bumping its head in that area. In short, there is not yet a signal that the bear has gone to hibernation even in spite of the Fed's yeoman efforts. That is not to say, however, that things aren't starting to look a little more positive for the bulls. As of Thursdays close, they are. Of course, some consideration must be given to the possibility that the markets moved higher today with short covering in anticipation of the long weekend. If the markets can steam up early next week the growling bear may be ready for a rest, even if temporarily so. I need to see a break above the recent channel for the Nasdaq and S & P and a break up through the down trend line to become a real believer.
My only action this week in the $10 category was to cut a loss in New Oriental Energy & Chemical Corp (NOEC). The stock continued down after I got out with a 39 cent loss.
City Telekom HK (CTEL) and Introgen (INGN) consolidated through the week and I am not dissatisfied with either position. Of course, INGN is my bet on final phase testing of their cancer treatment and I don't expect a burst until there is good news.
Blackrock Sr Hi Inc (ARK) continues to provide the regular income for which I bought it initially so it is doing its job.
Certainly a market upturn is nearer. I can only continue to counsel patience and say that making a trade just to make a trade is foolhardy in my view. As the market turns, I should be presented with many high potential candidates in a very short time. For now, I am looking hard for special situations and awaiting the inevitable turn to the bullish side.
Bill
|
Home |
Subscribe |
All Rights Reserved |
Privacy Policy |
Advertising |
Contact Us |
Terms of Use |
Disclaimer |
Links
|
trade stock
stock market today
|
