Burnt burnt burnt…!! Isnt it weird that even after you have a strong feeling about the direction of the market you go ahead a make some real silly trades ? How many times have you got sucked into buying a stock thinking its reached its bottom and the prices will rise from here, but it never does. Instead it keeps falling till the sharks eat every innocent investor up for grabs. What surprises me is that i made 3 important points last night and all of them turned out true.
- Tech sector might be a risky bet considering the current trend.
- Metal prices will see some positive number.
- IM and MU are value stocks and will see better numbers in the longer run.
Stocks traded lower as the market took a hit from another sell-off in Technology sector. Oil prices again took a drop at point slipping below $50 and the Feds showed no sign of reducing interest rates. Disappointing Q2 guidance from Apple and drop in sale and profits from Intel brought the Technology and Computer Hardware tumbling down. Neither did Fed Chairman Bernanke help the market after he warned of a possible fiscal crisis and potential chances of a weakened economy. On a positive note, unexpected increases in monthly housing starts and building permits provided further evidence that the housing market has bottomed out, removing the worst of recession fears.
So how did the stocks i picked yesterday perform. Real bad, it broke my heart. Against investor sentiments no logic can apply.
COGT -0.25 (-2.31%)
DIVX -1.23 (-5.64%)
FLEX -0.14 (-1.17%)
SMOD -0.92 (-7.11%)
ZQK -0.23 (-1.56%)
Net Loss of -17.79%