This could be a good opportunity to take advantage and buy some stocks, to invest in great companies that maybe down up to 5% and might have bottomed out.
We could be experiencing stocks moving lower still. The technical charts of many of these stocks still (unfortunately) shows a downward moving trend.
Will the stock market begin to rally again toward the end of October? We have just started October and the 4th quarter of the year, and already the stock indices have dropped into the red for the month.
I’m still holding long, but I plan to buy more Apple stock ($AAPL) and just watching for it to go further downward.
The stock market, as you know, didn’t do too well today.
Here are the indices:
Market Indices: $DJI -128.56 $COMP -13.24 $SPX -8.92 $NYA -49.8556
The portfolio tanked entirely except for Sprint ($S) which remained positive for the day.
The biggest portfolio losers today were: $XOM $AGNC $RNF $ISRG
Obama and Romney’s Portfolios
CNBC reported on the presidential candidates’ stock portfolios.
I thought this was interesting, mainly because I recently became aware that President Obama has a fairly extensive portfolio of stocks. We all know that republican candidate Mitt Romney has extensive investments and is worth up to $250 million.
Below is the chart of both portfolios AFTER the 1st presidential debate. Romney’s portfolio was up.
Below is the chart that shows how both portfolios did year-to-date. As you can see, Obama’s portfolio performed much better than Romney’s overall.
When to Buy Apple Stock?
Apple stock ($AAPL) has been tumbling in the past few weeks, so the dilemma is, when to buy Apple stock and should you?
A few months ago I bought some shares in Apple at $623 a share. It went up to $705 per share and met with resistance and began tumbling soon afterwards. I sold just under $700 a share and profited fairly well.
I plan to re-invest in Apple when the charts indicate that it’s met with the lowest support levels and begins to uptrend. Today wasn’t that moment, as the stock fell further down to $640 per share. Will it go down to $623 once again, and possibly lower? That is the question…
Apple Stock ($AAPL)
The 10 day moving average crosses above the 20 day moving average… this COULD be an indicator that Apple is on an uptrend.
Here is the year chart for Apple… which doesn’t look as hopeful.