Sweet Stock Market Tuesday: Will the winning streak continue ?
Yep, Yahoo is buying Tumblr for 1.1 billion. In this second full week of blogging, I alert you to winning Tuesday. After gaining each of the last 18 Tuesdays, will the Dow industrials (DJI) be on track for an 19th straight Tuesday gain ?
7:04am ... I'll be on here posting regularly during the day so stay tuned in. We got some new pictures on Faceback of our son and friends who are in France. He appears to be having a great time.
7:13AM...In case you would like to follow our stock trades up to the very minute. I try to 'print' the trade within a minute or seconds on 'Stock Twits' (STOCKTWITS.COM) before I update them on here. You can follow me on stock twits by going to stocktwits.com and signing in (it's free). Then follow ROBMARKETBLIND.
7:19... I am taking an interested in TMUS (T-Mobile). The 'peanut gallery' is whispering a buyout from DISH networks. It is one of several stocks that hit all-time highs yesterday that I am watching. 8:36am CST... Eyeballing the following stocks, VOYA, BOBE, and TRIP. Got a limit order in for TMUS at 20.65 and HCN at 77.81..They both came out of the gate higher than that. 8:49am ... Haven't bought anything yet. Did submit another limit order to buy 100 shrs of LOPE at 32.80.
9:01... Just closed out the remaining shrs of TSLA I had for a small gain.
09:12.... The market is petering out..so will stay on sidelines for awhile and see if the market turns back up.
09:19.... SBUX continues to show strength..bought 100 shrs at 64.01. Closed MDCO at 34.47.
10:33 .... As noted on stock twits a few minutes ago, bought 100 shr MCD at 102.14.
10:54am ... Didn't make any trades yesterday, making up for it today, bought 100 shr of a hot stock, HCN at 78.52... I'm going to take a lunch break for now.
1:40pm .... Lunch was OK, nothing special. Currently I'm hold 11 stocks with a total cost basis around 50,000. I have about 100,000 to trade with in this account. I am considering buying into ETN.. this electronics company is hitting new highs, and has an excellent trend pattern. ..any small dips and it's mime.
As you can tell already, after less than 2 weeks with this portfolio, I'm selling my weaker stocks and losers and letting my stronger stocks ride.
2:38pm... Going into the final 30 minutes.. in the meantime, I've updated some of the photos here.
2:48 bought 100 shr DISH ..(see stock twits)
3"03 As 'printed' on stock twits, bought 40 shares of PNRA at 192.62.
I expect to do some early profit selling tomorrow. Have a good day!
THE STOCK MARKET INDICATOR
"What seems too high in price and risky to the majority usually goes higher eventually, and what seems low and cheap usually goes lower." This famous statement is from William O'Neil in his best selling book, How to Make Money in the Stock Market.
There are numerous indicators measuring everything from sentiment to fundamental ratios to technical chart patterns. Every one of them is subject to interpretations which can result in incorrect decisions.
Even if some of these indicators had predictive value, on any given day there are so many potential news events that could change market direction that it is impossible to keep track of them all.
But there is one indicator, one core piece of information, that is always up to date and always correct. That piece of information, is price. And particularly the closing price at the end of every trading day. All the news, inside information, economic and fundamental data available, is reflected in that closing price. Price is the ultimate stock market indicator.
The buying high price strategy works whenever the market is accommodating and the market is certainly in an accommodating mode.