This will be my last 2 blog for this week. Am I giving up writing this blog? No my friends. I will be getting married this Thursday and with all the preparation to give up my freedom, I could hardly find enough time to write. But not to worry if you are following faithfully to my blog. I will be back next Monday with the usual stock recommendations.
Well, at least US is blessing my stock portfolio with a positive closing last night. A strong advance by the financial sector and a weaker U.S. dollar helped give the stock market its first gain in five sessions. We see 80% advances versus 18% declines in the NYSE and 70% advances and 26% declines in the Nasdaq. DJIA was up 112.08 pts to close 1.18% higher.
That's some good news for all of us after all the beatings we had last week. Well, my stock portfolio recovered, and I am happy that I do not have any stop-losses in these stocks I hold. If you are asking me why I have not placed any stop-losses, you can read my previous blog about my money management strategy of 30-20-50 last Saturday.
Last night Citbank was up 3.32% to close at $4.67, PMTC up 2.54% to close at $13.73, BKS up 5.08% to close at $22.74, OSG up $2.56% to lose at $36.50, BHI up 2.71% at $41.76, Forest Lab up 1.3% to close at $28.86, and I am still holding on to these stocks as it has not achieved my required target returns. Remember, I am a position trader, not intraday scalper.
The stock I recommended yesterday closed $32.87, up 1.08%. Well, I didn't buy. I am still waiting to confirm if there is a real buying signals from my Cycletrend and candle charting. The stock had probably rebounded off it's bollinger band resistant level amid the general market improvement, but since I need to see more signals to enter, I am still neutral and will continue to monitor this stock.
Have a great day!
Francies Cheng
BBus MAppliedFinance
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