Saturday, May 17, 2008

Taking Stock

I have a new place to go for stock ideas:

StockCharts Stock Scan

I like a handful of the lists:
-New 52-week highs
-Strong volume gainers
-Bullish 50/200-day MA Crossovers
-Gap Ups

Thursday, May 8, 2008

A Phrase

The more you own, the more you are owned.

Someone told me this phrase a long time ago, and I find it to be quite true.

Sunday, May 4, 2008

Taking Stock

This week, I learned what a classic bull flag and a bull pennant
pattern is. I also noticed that on of the positions I have, Hexcel(HXL), is forming a classic bull flag pattern.

Thursday, May 1, 2008

Taking Stock

I was a little surprised yesterday when the FOMC cut the fed funds rate by 25 basis points, because I don't see where the economy really needed it. Although, it is nice because it looks as though the DJIA could break out and go up another 500-1000 points. It is highly unlikely that the FOMC will cut rates again at the next meeting. I ought to see if I can find out how the consumer confidence indicators are calculated, because I bet that it has been affected by the media ranting about the domestic economy being in a recession. I was also a little surprised to see the GDP growth rate in positive territory, although it helps support the thesis that we are NOT in a recession. What I need now is for the media to start ranting about inflation going rampant, because that would give the price of gold a boost.