July 24th, 2007 | by admin
Staying Out of Stock
Category: Stock of the Month
For several months I’ve stayed out of stocks because I’ve predicted a downward trend in the market after the following events:
Oils rise near $70 per barrel.
Poor earning results after the interest rates have hiked up several times. It may go up a bit more again later in the year, as more credit it tightened.
Lastly, the mortgage mess –It costs upwards of $200 billion.
All of this happened, yet the market didn’t take a downward trend for the summer.
I suppose a lot of the summer stock market direction was “directed” by the M&A activity. The merger and acquisitions activity drove the prices of many of the large cap stocks.
I think the next few weeks will show a downward direction and I’ve now closed out of just about all the positions that I’ve been. I’ve still kept to the idea “sell in May and come back in September” — In my case, it will be even later than that.
Just a few thoughts about the market as I prepare to publish the first NSS Stock of the Month in August.
Editor,
Rich Sage.
- Market Actions
- Europe Markets: Financials pull Europe to another day of losses (at MarketWatch)
- A look at economic developments around the world (AP)
- A look at economic developments around the world (AP)
- A look at economic developments around the world (AP)
Press to 