Friday, December 31, 2010

Down to the wire

Well, this is it. 2010 is almost in the record books. With just one more day to go, it will be interesting to see if the tax loss sellers show up or if traders want to realize some gains tomorrow. The very last session of the year is historically a down one, according to The Stock Traders Almanac. But based on the recent good economic news and the sluggish pace of trading all week so far, I'm not expecting a major downturn. And I note that all three futures (ES, NQ, and YM) are up at this hour (1:30 AM EST). So the swing trend arrow remains green despite today's 16 point loss on light volume.

Over the weekend, I'll be posting my annual performance review of how and what I did this year, plus a look ahead to what technical analysis might tell us about next month and the rest of 2011. Stay tuned.


Yesterday, I bought some Intel (INTC) at 21.00. Intel has been beaten down lately and it is my "Dogs of the Dow" candidate for this year. The DoD theory holds that you can make money by buying the worst Dow performers at the end of the year. Technically it's not the biggest woofer, but I already own AT&T and Verizon and Intel is more affordable. It closed today at 21.02 and I'm planning on holding onto it for a while, longer than my usual swing period.

No comments:

Post a Comment

Due to some people who just won't honor my request not to post spam on my blog, I have had to re-enable comment moderation. Comments may take up to 24 hour to appear, depending on when they're made. Sorry about that.