How about them Feds??? Did you see the momentum after 2:15 est today. If you were a gambling guy/gal you would have bought some of the recessed stocks last night and sold this afternoon. Two that are on my list were RIMM and PTR, both expensive but rose 4 and 6+ respectively. Or played it safe and bought NOK, GE, DECK (expensive but rose 7+) Just about anything you were watching that has average fundamentals would have made you some quick cash today. After all 3 out of 4 stocks rise and fall with the markets momentum.
Let's see what happens tomorrow!
I recommend reading "The Successful Investor" by the founder of IBD, William J O'Neil. Pretty easy read and you can actually start to understand those technical chart things you always see that show volume and high/low and close numbers.
He makes a good point about timing the market and that no one thinks you can because of the volume institutional investor buy/sell takes too long to react to market metrics. As well as explaining why most of us think backwards when it comes to investing. Haven't we all thought or been told buy on the way down. Lower you cost basis! Yeah, in hindsight how often has that worked.
Anyway, buy the book and read it. I picked it up and got through most of it on a 3 hour flight to Cancun and it only cost 11.95.
Yes, he plugs the subscription to IBD quite a bit, but if you have the time to read and comprehend the technical stuff and not the time to do all the research you need to reduce your risk the IBD is an excellent tool to help you out. When I get a grasp of these charts myself I will be subscribing.
Until Next time, Hasta Luego!
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