ugly market conditions $SPX $DJIA $COMPQ $STUDY

today i unloaded a number positions as it’s possible the market is heading toward a correction (down 10% or more from recent high is technically what a correction amounts to). if i had done nothing, the portfolio only dropped by 0.78% while

  • $SPX dropped 1.43%
  • $DJIA dropped by 1.36%
  • $COMPQ dropped by 1.01%
  • MORNINGSTAR LARGE VALUE $MLVL dropped 1.57%
  • MORNINGSTAR LARGE CORE $MLCR dropped by 1.52%
  • MORNINGSTAR LARGE GROWTH $MLGR down by 1.27%
  • MORNINGSTAR MID VALUE $MMVL down by 1.19%
  • MORNINGSTAR MID CORE $MMCR down by 1.22%
  • MORNINGSTAR MID GROWTH $MMGR down by 1.22%
  • MORNINGSTAR SMALL VALUE $MSVL down by 0.72%
  • MORNINGSTAR SMALL CORE $MSCR down by 0.8%
  • MORNINGSTAR SMALL GROWTH $MSGR down by 1.09%
  • see market barometer @ http://www.morningstar.com/

20130531_market_barameter

this weekend i’ll provide a little detailed analysis and update my portfolio holdings.

, ,

  1. #1 by Mark on 2013/06/01 - 1:03 pm

    Michael,
    Take a look at SHOS.
    It have just come up on my screener (stock gaining over 10% in the last 5 days).
    Quite acceptable EPS 81 at IBD.
    Recent IPO in October and at the ATH ( up 5%) on Friday and up 81% the day one.
    Look at the volume in the last two days.
    Now consider the Market since May 22nd and I think that we have a winner here.
    Mark

    • #2 by stubbybrown on 2013/06/01 - 1:06 pm

      thanks mark. i sold SHOS on friday with a decent gain. it will stay on my radar.

  2. #3 by Mark on 2013/06/07 - 12:07 pm

    Michael,
    Are you Ok?
    You are missing the great action in the market today.
    Despite the market acting “ugly” the leaders (TSLA) bounced off the 20SMA on Wednesday.
    There was the “buy set up” for the next day morning (buy 10c above the Wednesday’s high at $98,07) which worked if you have a buy stop at that value.
    Today (Friday) is the great confirmation of that buy point.
    The stock is above $100 again.
    I am 100% in TSLA.
    Taking a break.
    Tired of trading and trying.
    Again. I hope that you are OK (forget about that stupid Mathematician!!) LOL.

  3. #4 by stubbybrown on 2013/06/07 - 12:16 pm

    i’ve been taking a break from trading as well. a new global growth thesis must be developed on wall street before i get back into an particular equity. so in the meantime, i see NO need to chase or commit capital while the market is seeking direction.

  4. #5 by Mark on 2013/06/07 - 4:10 pm

    Yes Sir!
    Enjoy your break!
    I will just stay with the leader (TSLA) and enjoy the ride.
    It’s a Bull Market since March 9th, 2009 !!!
    Nothing had changed since.
    The great trader Livermore once said “in a bull market your game is buy and hold until you think that the general conditions have changed”
    So here we go!
    Mark

  5. #7 by Mark on 2013/06/08 - 12:47 pm

    Thank you Michael!
    I am just looking at the TASR chart from 10 years ago and waiting for my turn.

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