The stock market is having a good uptrend. The number of new all time highs is at 408 versus new all time lows at 17. Yesterday, the 52 week new high/new low ratio was 343/12 on the NYSE and 247/31 on the NASDAQ. The DOW is hitting new highs. Oil prices and interest rates are lower. All these measures are favorable for stocks.
Since I believe the upward move will be short-lived, I will try to sell some stocks into this rally. I have already sold Motorola (MOT) at $24.84 for a 7% short term gain and am looking for opportunities to sell Alcon (ACL) and Chicos (CHS). I will continue to hold Google (GOOG), Apple (AAPL) and Gilead (GILD) since they have performed relatively since the recent market dip.
This is not financial advice. Please consult a professional advisor.
Copyright © 2006 Achievement Catalyst, LLC
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November Goals Update
1 week ago
2 comments:
So have you sold out of your AAPL and GOOG position yet after + pts in both? I am in AAPL call options and plan to sell in Nov waiting for another big uptrend tick in the stock movement. Currently short-term it looks like it could be going down some.
I like your blog. You are like me and love to save finding every way to do it.
-Paul
http://financeninja.wordpress.com
Paul,
Thanks for your note and your complements about the blog.
I still own GOOG and AAPL. At this point, I plan to continue to hold both. Both have excellent business models, which I believe have at least 1-2 years life remaining in giving them a competitive advantage. In addition, both are continuing to successfully evolve their business models as the market enviroment changes. Of note, GOOG's purchase of YouTube and AAPL expansion of IPOD usage.
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