The stock market continues to perform well as accumulation days start piling up. Traditionally the run up to mid term elections are bullish but as I said many times before do not try and be smart by finding reasons, just buy the trend. I could just as easily counter the bullishness by saying September and October are traditionally bad months but it means nothing. I say again just follow the trend and pay attention to price and volume.
After some consolidation on lower volume the Dow Jones Index again broke out on higher volume. This could end tomorrow, next week or next year. Don’t be smart and try to forecast just continue to buy the breakouts by adding to existing positions and adding new positions. The important thing to remember at this juncture is that you can run the risk of buying too many stocks and not waiting until you can move up your sell stops to break even before buying more. This can be dangerous because if the market suddenly turns down then each of those new companies could produce a loss, risk control is still very important.
Remember from all the stocks you buy (and by now you should have many winners) all it takes is ONE great company to make a lot of money even if all your other choices fail. I say this because that one winner you will be adding to in increasing size as it climbs and all those other potential losers you will be stopped out after the initial purchase.
Here are a few more stocks performing well and looking ready to move higher if the stock market holds up. Make sure as always that earnings are not imminent for any new purchases. Remember this blog site is not a newsletter that promotes stock tips or penny stocks. Rather the idea is to teach stock selection with low risk advice.
RES - $19.94
ANDE – $40.09
JOSB – $42.58
HLF – 59.77
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment