Black Thursday

[ConsultantSEO]

Good topic! Yea, is this all due to the fed's rates? Dang them. I think I would like to see a nice morning pop so I can sell off my positions. :lol:

TCG - What's up CDSS? it keeps creeping down... I was looking at the charts and I didn't think it was going to slide down today - what gives?

[cortnkhi26]

KJ, CDSS, VION, CHAR, CPST, you name it and all were down. Decliners outnumbered advances 4 to 1 :

Market Momentum -1.70% Advances 949 Unchanged 191 Declines 4772

The Naz should rebound tomorrow and techs will rally. Hopefully, the DOW will feed off the Nas and bounce as well. Today was a good day to be in CASH. I should have looked at the 3 month charts of the major indices, they were very toppy. But enough doom and gloom, tommorrow WILL be a brighter day. No more couda, wouda, shouda talk. Lets kick ass tommorrow!

[Davidjeoda]

I'm taking care of my mom's portfolio and she's got stocks in many large cap companies (MSFT, XOM, AIG, EXC, CHK and others). All of which have taken a beating in the past few days. Luckily I had trailing stops on a few of them and locked in some gains and got some cash. Would tonight / tomorrow morning be a good time to put the money back in while stocks are low? Or should I hold be and see what developes.

[DavidJen]

Metalhead, so far the Bears have won the last 2 days. But since the indices are getting close to short term support, the bulls may be stepping in tommorrow so we will have to wait at least until 10am to get a feel of who will be winning. I looked at the charts of the stocks of your mom's portfolio and this is a very good opportunity to add to your holdings. This is my observation:
MSFT, closed at $24.68, support is at $24.50
XOM, closed at $58.96, support is at $58.00
AIG, closed at $61.11, support is at $60.00
EXC, closed at $51.48, support is at $51.00
CHK, closed at $35.50, support is at $34.00

So all your stocks are very closed to support. If they dip further tommorrow, BUY, BUY, BUY since you are a long term investor. Hope this helps.

[admin]

Thank you for your insight ChartGuru. I'm still learning a lot about markets and I'm trying to do the best for my mom (and myself w/my portfolio). The past few weeks haven't been all that friendly. But this is long term. I am actually going to post a thread w/my idea for my mom's portfolio and get people's opinions.

I'm sure you've been asked before but where did you learn about Technical Analysis. I have read a book by Jack Schwager (Getting Started in Technical Analysis), and it does teach the basics well, but I would like to go more in depth. Although I think I will always invest fundamentally, I would like to use technical analysis to buy and sell and better points. Thanks again.