Even though the fed cut 50bp today after just cutting 75bp last week, it still wasn't enough to save the market. Sure, for about 30 mins the market went up and my acct was hurting, but then people read the report and realized that "hmm, things must be bad if the fed is having to cut this much."
I currently only have 2 longs, and neither of them is working well. And today I will likely add a few more shorts.
Showing posts with label market. Show all posts
Showing posts with label market. Show all posts
Thursday, January 31, 2008
Friday, July 06, 2007
Is this a rally, yet?
Wow, this may have been a low-volume holiday shortened week, but it was a good one. The Nasdaq was up 4 out of 4 days, made a new 6yr high a couple of times, and gained 2.4% on the week. Even better were the leading stocks:
For the week, the IBD 100 vaulted 5.2%. That marked its biggest weekly gain in just over a year, dating back to June 30, 2006.
Isn't this exactly what you want to see in a bull market? The Nasdaq leading the other indices and the best stocks rocketing? I feel good because my account is actually doing well. Usually after we have some big move, I'll be at a meeting and someone will ask "So who made money this fall?" and in the past I haven't. But for June my account has shaken off the spanking I got the first week and is now at all-time highs again. It's been lead by further gains in AAPL and MTOX mostly, but also good performances by ARGN, BGC, and ILF.
All through May and the first week of June I kept reading the "Sell in May and go away," mantra being repeated. June was pretty much a wash, but you know what, it kept finding support. There were a couple of times when it could have gotten ugly, but the buyers are out there. If they are there in June, that bodes well for the following months. Last year's rally started by putting in a bottom in July.
For the week, the IBD 100 vaulted 5.2%. That marked its biggest weekly gain in just over a year, dating back to June 30, 2006.
Isn't this exactly what you want to see in a bull market? The Nasdaq leading the other indices and the best stocks rocketing? I feel good because my account is actually doing well. Usually after we have some big move, I'll be at a meeting and someone will ask "So who made money this fall?" and in the past I haven't. But for June my account has shaken off the spanking I got the first week and is now at all-time highs again. It's been lead by further gains in AAPL and MTOX mostly, but also good performances by ARGN, BGC, and ILF.
All through May and the first week of June I kept reading the "Sell in May and go away," mantra being repeated. June was pretty much a wash, but you know what, it kept finding support. There were a couple of times when it could have gotten ugly, but the buyers are out there. If they are there in June, that bodes well for the following months. Last year's rally started by putting in a bottom in July.
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