Another day closed practically unchanged for the major stock indices today. Technically the bias is still to the upside, and the news was good (Housing numbers, consumer confidence this week, etc.) The fact that good news is not sending the markets into rally mode speaks volumes to the fact that investors are looking for more solid signs of recovery before they will buy much larger chunks of shares. There has been, however, considerable day trading of FRE, FNM, and other "bankrupt" low expense companies of late. If this sounds fun to you, by all means take a whack at it (I have placed side bets on these more than once, and yes Im enjoying this little run up recently!). I do advise you don't bet the entire ranch on these, though.
A good play right now, for traders, would be IYR, and hedge with SDS.
For those of you looking for picks, I like MCD, MO, PM, JNJ, AAPL, and JPM. I also like POT, and CAT These are long term buy and holds. I do own a little GLD, and SLV, hedged with ZSL. GLD and SLV are precious metal etf's, and ZSL shorts the silver market.
For shorter or intermediate term trades on stocks that usually have the right quality for buy and hold if you are one that hates to give up on a bad position (a bad habit that sometimes can pay off if you are buying blue chips), I like to use special software. There is nothing mystical or magical about this software, it simply scans through mountains of data looking for criteria that I look for, technial and fundamental stuff. This saves me tons of time. I go through the picks resulting from running this software and further narrow down the selections to a handful, then look for entry/exit points. Would hardware like this help you in your trading? Probably, as long as you follow your plans and sift through the picks like I do. You can learn more about this valuable tool at the following link http://ecaafd07jndp5l5m4ck9cewb0s.hop.clickbank.net/?tid=R9R125KH
As always, Im happy to answer questions or respond to comments at my email address, which is lmrtrader@gmail.com
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