First off I would like to point everybody’s attention to the friendly little competition that was held at Stock Trading to Go where we were to see who could guess the closing of Nasdaq one week in advance. Yours truly was the winner, with a submission of 2340.02 and the actual closing coming in at 2326.02. That is a 13.82 difference. Just felt I should toot my own horn. I saw the market just moving up and down, so I felt that the week would end pretty much around the same closing as the week prior (when the guess was made).
It will be interesting to see where the market heads this week. All my stocks managed to hit home runs last week, yet that wasn’t the story with other stocks. Some people may of had time to catch up on the new stimulus plan the Congress passed. I was kind of bullish heading into this week; however, the bearish run that the market experienced Friday afternoon keeps me on my toes.
Right now I am currently on the hunt for great value stocks. The ones that are much lower in price, then they are valued at. CAT is one I have already acted on, although I am still waiting for it to possibly come back down to build on my position.
On top of that I will be looking at stocks that rise and drop in a continuous pattern. Cisco was a great example of that last week. I don’t know about you, but volatile markets like this allow the investor to be more creative. Maybe that is a bad thing, but sometimes you just got to go with the flow. At the same time know your limits.
May the bull be with you.