Week In Review 4-12-2008
I had a good feeling on Monday about the direction the market was heading, and once again the market has taught me the value of my "feelings". For the week I was down 2.44%.
The Zweig Relative Strength 5 screen was the best "performer" this week with a loss of 1.37%. GHM was the best stock in that screen with a gain of 5.12% while WATG was the worst with a 7.42% loss.
To the Moon was the worst performer for the week with a 2.69% loss.
The Earnings report from GE sure put a damper of what was looking like a decent rally. Hopefully next week will produce some companies who have handily beat earnings. Otherwise we could be in for a nasty month.
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3 comments:
Rick,
Don't you have anything better to do on a Saturday morning than read my stupid blog?
Looking at GE as a finance play, I guess it's save to say, that "all" the bad news isn't priced into the market at this point. Makes you wonder what the bottom could be. If each Dow-type company can drive the market down 250 points on bad news; figure there is maybe a hundred of them and 10% report bad; that could drive the Dow to 10,000. A 25% loss in the Dow is a real possiblity if we don't have a bit of luck. Fits the worse case scenarios you read about.
Yeah, the whole thing is a bit disconcerting. I guess we really won't know until the next couple of weeks are over. Personally, I think we'll hold at this level, but I'm an idiot.
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