This is a one way ticket that takes you on a wonderful journey into the vast world that is the stock market through my eyes, my point of view.
Hey folks,
It looks like todays correction turned out to be a minor one as eager traders bought on the dips and took advantage of the markets bounce off of the intra-day bottom. Pullbacks were plentiful and they provided a great opportunity to add more to position. There are several stocks that I am keeping an eye on for earnings. They include: SLGN, SMIT, VMI and AME.
posted by Nick M. @ 4:45 PM
Hello and welcome to my blog. My name is Nick and I am a recent graduate of a top research university. I currently hold a BA degree in Psychology. My main interests are industrial/organizational psychology, HR management and of course, securities and the financial markets. I became interested in trading and investing in stocks a few years ago by pure chance and curiosity. After learning some of the basics in 2003, I began to trade in full force in 2004. Although I've been trading for only a few years, I have learned much about stocks, and analyzing charts in this relatively short time span. My experience and chart reading skills are my edge in successfully navigating the stock market. My strategy and discipline is a blend of trader and stock picker. My style of trading has helped me find some of the current markets top winners in their infancy. In addition to my own personal trading and investing, I also manage assets and portfolios for close friends and family. My goals are to continue to improve and refine my trading/investing strategies in order to further enhance my performance in the market. Eventually, I would like to establish my own investment/asset management firm.
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3 Comments:
Do you think we are starting a pullback? I thought it was strange for the close to be this low in the middle of the week. If so, how long do you think a pullback could last?
Mateo,
Well it seems like we already experienced one today. As far whether it will continue remains to be seen. The good thing was that we didn't close at the LOD which shows how strong the current rally really is. As far as the timing of the pullback, I think it was something that everyone was just waiting to happen. We were overbought for a bit (from last weeks monster move), so this pullback was a breath of fresh air as it provided buying opportunities. Pullback can last for a day or two or even weeks as the market may trade sideways or in a lateral fashion until it recieves the proper catalyst to get it moving. As far as tommorow, Tech (EBAY, IBM) earnings should be good tommorow so this pullback may be rather short lived. Time and earnings strength will give us clues as to the markets future movement.
Well looking at the potential earings plays for tomorrow, its safe to say that SMIT is out of the picture. Down 25% after hours...Ouch!
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