It's a Maaaad Houseeeee!
Has there ever been an actor better at over-acting than Charlton Heston? I think not.
Anyway, today's market was a mad house for me. I fell over backwards into cactus covered with fire ants. Ouch! The DJW5K lost 1.14% and still managed to beat me by .12%. That's a bad day. And I've had a rotten run the past few weeks. Well, it's times like these I start looking real hard for a silver lining. I think I may have found a few.
Let's take a gander at LH. I almost lost this one today. It's the old man of my current portfolio. It got downgraded to "market perform" by one analyst today, and the market sucked poopoo. That's a recipe for disaster. However, good ol' LH may have fooled 'em all today. It gapped down a bit and put in a deep hammer below the two-week old sideways consolidation, and did it on huge volume, closing four pennies from the open and high of the day. It may have blown out all the sellers and made ready for a continued trip. Hey, I'm searching for good news today!
Overall, the portfolio took a hit today. No doubt about it. That said, in looking through the stocks that survived the day, I don't see a whole lot wrong out there. Most stocks held up their end of the bargain and maintained their charts just fine. They mostly had down days, but within the framework.
One notable exception: LNT didn't come through today. Yesterday's breakout is busted. Volume was low, but not tiny. I'll need to see goodness from this pig soon. I've got a tight stop in here.
Today marked the end of the road for four different positions.
ECL: This is the one I'm disappointed with. That downgrade yesterday just killed a good thing. As expected, it traded lower in the morning, and I took a 6.2% gain away.
The other three were all on my "trim" list with very aggressive stops. None of these really quite fit my adjusted strategy.
XOM: After 31 days, I harvested a whopping 0.12% gain.
GIS: After 21 days I harvested a whopping 0.86% gain.
BUD: After 16 days I harvested a whopping 0.36% loss.
These just were not movers and shakers. I'll attempt to put the new capital to good use when it frees up next week.
Anyway, today's market was a mad house for me. I fell over backwards into cactus covered with fire ants. Ouch! The DJW5K lost 1.14% and still managed to beat me by .12%. That's a bad day. And I've had a rotten run the past few weeks. Well, it's times like these I start looking real hard for a silver lining. I think I may have found a few.
Let's take a gander at LH. I almost lost this one today. It's the old man of my current portfolio. It got downgraded to "market perform" by one analyst today, and the market sucked poopoo. That's a recipe for disaster. However, good ol' LH may have fooled 'em all today. It gapped down a bit and put in a deep hammer below the two-week old sideways consolidation, and did it on huge volume, closing four pennies from the open and high of the day. It may have blown out all the sellers and made ready for a continued trip. Hey, I'm searching for good news today!
Overall, the portfolio took a hit today. No doubt about it. That said, in looking through the stocks that survived the day, I don't see a whole lot wrong out there. Most stocks held up their end of the bargain and maintained their charts just fine. They mostly had down days, but within the framework.
One notable exception: LNT didn't come through today. Yesterday's breakout is busted. Volume was low, but not tiny. I'll need to see goodness from this pig soon. I've got a tight stop in here.
Today marked the end of the road for four different positions.
ECL: This is the one I'm disappointed with. That downgrade yesterday just killed a good thing. As expected, it traded lower in the morning, and I took a 6.2% gain away.
The other three were all on my "trim" list with very aggressive stops. None of these really quite fit my adjusted strategy.
XOM: After 31 days, I harvested a whopping 0.12% gain.
GIS: After 21 days I harvested a whopping 0.86% gain.
BUD: After 16 days I harvested a whopping 0.36% loss.
These just were not movers and shakers. I'll attempt to put the new capital to good use when it frees up next week.
posted by mccrok @ 5:14 PM
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