Stocks for the Rest of Us
Posts tagged Stock market bottom
Today’s Monster Rally Is Encouraging But Warrants Caution
Oct 13th
While I didn’t publish this in my blog I actually made some purchases on Friday afternoon. Of course now I’m wishing I had bet the farm but I’ll take any gains when I can get them. I picked up some AAPL and SGR significantly lower then they’re trading now. The action today is definitely encouraging but I would urge everyone to be careful. Some of the CNBC commentators are giddy as if last week never happened and that’s dangerous. If the market has truely bottomed I expect to see us chop around down here for awhile before starting a new uptrend. This will give you plenty of time to get in if you’ve been sitting in cash. If the market can hold on to the majority of these gains and stay above 8500 or so in the DOW then we might have a good base in place. Start building a list and looking for names you like.