Stock Market
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Last summer I discussed my misgivings about the market run-up and how I thought we were due for a stock market correction. Obviously, there was a slowdown last May because of the Federal Reserve lowering the fed funds rate. My discussions came after this, because I thought more downturns could follow because so many factors were against stocks continuing to do well. I was wrong.
However, the past few months I have had the feeling we are due for another stock market correction. Unemployment is low, stocks are doing well, but not many other economic factors are trending well. Iraq continues to seem to get worse and more expensive. The housing market is taking a once-in-a-generation hit because prices were inflated and many sub-prime borrowers have defaulted.
I still own individual stocks, but I have sold most of them. I still hold mutual funds, and I always do for the long term. But I might sit on the sidelines for a little while to see how things shake out the next weeks and months.
Written by Nagel on May 9th, 2007 with no comments.
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Online stock trading has become ever more popular in the past several years. It has evened the playing field dramatically, and now an average-joe investor has a better opportunity to success on Wall Street. Maybe everyone cannot compete against the large investors and mutual funds, who can move a stock price when they trade. However, buying stocks online and acquiring knowledge of stock news is much more egalitarian than decades ago.
I currently participate online stock trading, where I buy stocks and sell stocks. Stock news that I delve into assists me in deciding what stocks to buy. investing in stocks is not easy, but online stocks trading has made my trading life much easier and has made me much more money investing than I ever could have in the past.
I am not a day-trader by any means. However, the option of trading stocks online allows me the flexibility and freedom to execute stock trades as often as I like. Last week on Wall Street company earnings reports pushed stock prices up and I am hoping it will do the same next week as many more good companies report earnings.
Written by Nagel on May 4th, 2007 with no comments.
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A couple weeks ago Altria (MO) spun off Kraft (KFT). I owned so MO at that time so I was entitled to 17 shares of the newly solo Kraft. I held the stock for those next two weeks and watched it rise a few percent and then Friday I put in a limit order to sell my 17 shares. It was executed and now I am free to use that cash for my next purchase.
More and more data comes out saying that we are due for a larger hit to the stock market than the February 27 one. The rest of the economy is supposed to take a hit as well. Moreover, polls show that this is the mood in America as well. This does not bode well for stock investors because no matter perceived or real, the market is more apt to take a hit if people think it will.
Therefore, I might keep this money on the sidelines for a while to see what happens, but I doubt I will because I am still bullish.
Written by Nagel on April 17th, 2007 with no comments.
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February 27 scared a lot of investors and made bulls out of bears. The bears are trying to win this war of wills that has been going on since Black Tuesday. Their job was easy at first because of the dearth of actual information on why the market took a big drop. Alan Greenspan’s comments in China, the Chinese market drop, housing stock default and more were blamed for the downturn in the equity market last week, but in reality it stemed mainly from a computer glitch that occured for about 2-3 minutes that prevented some large trades from being executed. This problem quickly snowballed into a panic because traders and investors did not know what was happening.
Those that “short” stocks, have tried to continue the panic so they can capitalize off it. However, as more information is revealed and the stock market shows more strength their scare tactics are playing on more and more deaf ears. However, they might be able to continue this as more earning reports come out and they claim the sky is falling. Next week will be telling to see how the Street reacts to all this information–if it can stabalize this might be the end of the sell-off. if not, then there might be more opportunities to buy stocks at a deep discount.
Written by Nagel on March 10th, 2007 with no comments.
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I think a huge sigh went out over all of Wall Street and the financial world with the gains posted today. The Dow Jones Index, NASDAQ and S&P 500 all showed gains of over 1% with the NASDAQ almost 2% up. After more of a sell-off on Monday following the correction of February 27, doom and gloom was casting a pall over the street.
Personally I saw 2 of my own personal stock holdings jump back and give life back to my portfolio. Goldman Sachs (GS) was up 3.88% (197.37) after dropping to 190 just a couple trading days prior. I am still down overall on the stock, but i cannot pass up its P/E of under 10. Last Friday after a sell-off I built more of a position and by Monday afternoon I began to have some second thoughts.
My other poor performing stock is the New York Stock Exchange (NYX). It has figuratively killed me since I bought it. A couple weeks back I had faith after it had another big drop so I built a position in by doubling up. The end of yesterday I was down almost 16% on a cost basis–not good. Therefore, today’s skyrocket of over 7% was a welcomed sight. Wednesday and the several days following will be telling as 24.6 million shares of former seat holders become active. I am crossing my fingers even though I do believe that the company is financially solid.
Hopefully the volatility will wane so we can return to a more stable stock market.
Written by Nagel on March 7th, 2007 with no comments.
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Google (GOOG) stock is on my watch list for my retirement accounts. Its 52-week high was in the 510 range and now it is hovering around 440–about a 14% drop. Many claim Google has nothing but upside and I see little reason that it cannot rebound and gain at least 10% in the next few months.
The problem is the stock market has been volatile lately and it had disappointing growth last earning report. Yahoo! finance stock is making an effort to catch up to GOOG stock and this could be a drag on Google as well.
Apple (AAPL) stock is currently in my retirement account portfolio. It was in the $95 range after the announcement of the iPhone. Then lost steam quickly and dropped to 85, where I purchased it. This week AAPL stock was volitile and on Thursday it was up over 4% at one time during that day. I see Apple having a lot of upside. I think it can easily get back to 95 and in the next 6 months possibly $115.
These Wall Street stocks have tremendous upside potential, but Wall Street needs to calm down from last week’s trouble in order to get a clear picture of where these two stocks, and more are going.
Written by Nagel on March 6th, 2007 with no comments.
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Many people want to learn more on personal finance and investing, but do not know where to start. Websites like this one and other personal finance sites are great tools. I also wanted to let you know of other resources available to get you up-to-speed on a wide variety of financial topics.
I would recommend watching Mad Money for investing. He is one of the few who will go step-by-step to help you invest smarter. This can buttress a general investing education you can get from doing some homework. Obviously, there are loads of investing books so look around and see what others have to say about it.
These are from from the only options available. You can easily go to Kiplinger, Money, Smartmoney, Yahoo! Finance, Google Finance, etc. These are all informative and can hold your hand until you get the hang of certain topics you might not have mastered yet.
These are great personal finance education websites to start. Ask around and get people’s opinions on what sources to use. I would recommend using as many reliable sources as possible. It is not easy, but we all want to do better with our money.
Written by Nagel on March 4th, 2007 with no comments.
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The stock market has been behaving erratically this week and do not think that it will stop soon. When the market has a day like it did on Tuesday the herd of Wall Street takes notice as well as the casual investor.
Cool heads prevail. Do not panic and consider this an opportunity to buy some stock at a discounted price. You will need to do your homework in order to determine which stocks are the right ones. High dividends and day-to-day needs will lead the way. The high yield comforts the blow of a downturn in the market and people still need toothpaste no matter what the economy is like.
I feel fortunate that I had about 1/3 in cash. I was nervous about the market because I was slightly negative on the it back in June of 2006. I also invested much of my funds in Altria (MO) and Berkshire Hathaway (BRK.B). Altria (MO) has a 4.0% yield and Berkshire Hathaway (BRK.B) is Warren Buffet’s horse and I felt comfortable with him at the helm.
In the next several days I will need to decide if it is time to increase some positions and take advantage of the lower prices.
Written by Nagel on March 2nd, 2007 with no comments.
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I know it is difficult to keep cool when the stock market goes down over 3% in a day and many stocks dropping over 6%. However, if you are an investor you have to see this as an opportunity, not a crisis.
Unlike many terribly bad days in the stock market this day was caused by internal glitches in the actual trading system. Of course, China’s stock market going down 9% in a day off its all-time high had reverberations. Keep in mind that many economic figures are positive and the day was nothing like 20 years when the stock market lost over 22% in one day’s trading.
The market will probably go further down today, but if you begin to build a position in any stock in the long run you have a good chance of making money.
I know last June I thought the stock market was due for a correction, but I do not necessarily think this was what I was predicting. I thought it would because of poor economic numbers combined with a world crisis.
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Written by Nagel on February 28th, 2007 with no comments.
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Well, it looks as if the Fed choose correctly to stop the interest rate hicks a couple months back. The economy has reacted positively as has the stock market. Housing has cooled off, but that was expected and now the Dow Jones is near its all-time high. People seem very bullish on the immediate future for the stock market. The falling oil prices has helped the economy in many ways and soon it will show up in company’s bottom line.
Be cautious. Times like these has many of the same characteristics as past recessionary markets. Keep your portfolio diversified and do not panic if things begin to go bad.
Written by mike on September 29th, 2006 with no comments.
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