October 26, 2007

Market Comments Submitted by Nick at Ambitions as a Stock Trader

By admin

Rating 3.00 out of 5

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Submitted by My Ambitions as a Trader and Investor

Frustrating Action…

Today wasn’t a good day. For the most part the markets kept me frustrated all the way into the close. Many of my new trade ideas blew up on me. I stopped out on LFT after an ugly reversal. I was actually able to get in at a good price (32.59) and bailed out at 30.20 for a 7.33% loss. So much for that stock. On the flipside, there were several current holdings in the ‘folio that did just fine. These stocks are the cream of the crop and boast the strongest RS in comparison to all the other stocks within the U.S.stock market. The one thing that has me a bit uneasy is the fact that I haven’t really found any new high quality stocks to buy. Sure there are still plenty of lower-priced speculative issues floating around but nothing to really get me excited about buying. The amount of negative reversals has me a little queasy as well. I may just be over analyzing the situation though. We’ll have to wait and see how the week ends. Keep an eye on earnings for ASIA and CRDC for tomorrow. ASIA already reported earnings and CRDC is due to let the new spill tomorrow morning.

Stocks that Did Well: APPY, AXYS, BIOS, CRDC, HNSN, KHD

Added To: AXYS, BIOS

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