Market Comments Submitted by Nick at My Ambitions as a Stock Trader
Submitted by My Ambitions as a Trader and Investor
The Major U.S. Market Indices Are Showing Support
This can lead to a small three month rally. Before you shrug that off as something minor, you should understand that a small rally like this can produce gains of 50% or more rather easily. There are many stocks that have been beaten down to a pulp. These stocks are now undervalued and can easily double or triple from their current price. In addition, there are several stocks that are showing impressive strength. I am talking about powerful stocks such as ADY, AIPC, MAXY, VITA and several others. These stocks are not even close to their 52wk lows. They are the new market leaders and they will more than likely outperform most of the other equities. I am also watching the VIX rather closely. A collapse below the 50/49 level would definitely seal the deal of sustainable rally in the upcoming weeks. If the VIX bounces from here, expect some more market drama with the DJIA heading back down to 8,000 or a bit lower. If the VIX does bounce, watch for any resistance at the 65 level. If it can’t climb back above that point, it will be another buy point in the market.
I have been on a buying spree the last few days. I am adding only the top stocks with the top setups. Those that would like to emulate my strategy may do so, but at your own risk. Little blow ups like ASTM, FHC and STEM do occur. I am sorry that I am not a perfect trader. I do make a few mistakes once in a while. I am still holding onto ASTM and FHC. I believe both can be exited at a lower loss or a break even, so I am holding them for now. Fortunately, most of my other holdings are doing better and more than making up for the small mistakes.
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