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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?
Black Thursday
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!
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.
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.
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.
