Money no image

Published on September 26th, 2012 | by Randomguru

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Trading Notes: Day 3 of a Three Day Losing Streak

8:44am – We have plunged into a third day of a downtrending week so far.

Volatility and unpredictability can be expected in the short term. In the long term, however, a company with good fundamentals and financials WILL go up in price, and its dividends (if any) will continue to deliver.

If the typical trending factors continue this week as it has in the several weeks since May 2012, then Monday is when we downtrend which could last through mid-week. Followed by a rally on Thursday and/or Friday.

Also, stock prices tend to fall just before quarterly earnings reports, and depending on whether or not a company’s earnings meet analysts expectations, we will continue to see growth and momentum, or not.

Trading Notes

8:53am – Stock indices have fallen for the third straight day. $AAPL has lost momentum and has fallen dramatically from it’s $705.07 52-week, all-time high, down to around $664. $GOOG has also lost a bit of momentum and is hovering around $747.

Stock Indices: $DJI -20.19 $COMP -26.10 $SPX -6.90 $NYA -52.386

The only way for a small time investor is to hold long. I think day trading the stock market is going to be extremely difficult unless you know exactly what you’re doing.

Those who invested recently in the financial sector are feeling the bites; it’s a tough sector.

I sold Apple stock before this latest major downtrend and took some profits. But I’m waiting for another entry point to reinvest. Apple is the most valued company in the world and the success of its iPhone has still accounted for 70% of it’s overall profits, not mentioning the success of its iPad, macbook series of laptops, etc. In the long run Apple’s stock will continue to climb.

Apple

9:18am – Not much to report, other than the stock market is sliding… sliding downhill…

Stock Indices: $DJI -1.65 $COMP -20.26 $SPX -3.96 $NYA -32.9361

10:18am – Again. Not much to report other than we are still in the red for the day.

Today’s portfolio gainers: $KO $FB

Stock Indices: $DJI -8.02 $COMP -21.60 $SPX -4.19 $NYA -33.1542

Coca-cola

Facebook

12:33pm – Less than 30 minutes to go in the trading session. Basically, we have continued to slide downhill from my last update. The portfolio has tanked because of $ISRG falling well below $500 a share.

This day is basically done unless there is a rebound in the final 15 minutes. But given the downward momentum today, I don’t think that’s happening any time soon.

Stock Indices: $DJI -37.70 $COMP -25.45 $SPX -7.41 $NYA -52.7411

Closing Bell

1:17pm – And this day is pretty much done.

Stock Indices: $DJI -44.04 $COMP -24.03 $SPX -8.27 $NYA -53.4584

Today’s portfolio gainers: $FB $KO

Bottom 3 Losers: $TGT $RNF $ISRG

$ISRG tanked dramatically down to $495.62 from a previous $511.57, a loss of $15.95 a share.

Better luck tomorrow!

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is a... Musician, Stock Trader and avid blogger. Follow Randomguru on Twitter @randomguru



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