MSO settlement, Apple’s new iPod, AMAT earnings
I don’t like to use hope in the stock market. It isn’t a good word to use because you either have a conviction that your stock is going up or down with technicals or fundamentals. I feel if you “hope” then you are just betting as a gambler in the stock market.
I was pretty convinced MSO, GRMN, AAPL, and AMAT were slowly going to move up. It is only November 9th. Most technical charts have been showing stocks flipping over and about to head down unless something else otherwise very bullish happenings… This year could be different. Like one year when everybody thought Wal-mart was going to go up with positive earnings into the holiday season the stock did the complete opposite. Sometimes I get that feeling about right now. For the most part stocks have created a large bullish white candle up such as AMAT and AAPL, but the market has been so sideways instead of going up into the season. I’ve read in a book that if the stock market isn’t making sense then stay out until it does. I think this statement is profound. You shouldn’t trade if you don’t know where the market is going.
AAPL is getting big consumer demand for its new iPod shuffle boosting its stock higher creating a new white bullish candle. AMAT earnings are November 15th and just recently technically it seems somebody big bought in for the run and new downgrades but a price target of $21. MSO’s new settlement of $15 mil is a bummer even though Martha is paying $5 mil out of her own pocket taking the stock away from its high of $22.50 down to around $21. GRMN is getting lots of bad reviews expecially by stock mover Jim Cramer though it seems to slowly be going back up.
My GRMN trade has really disturbed me. I was up over 400%. My ego thought or was convinced I should say that GRMN earnings were going to be positive and make the stock jump higher. NOT! Now my GRMN options are worth $0 (-$2600 investment). I feel so dumb. I don’t want this to happen again. I don’t think anyone reads my blog, but if someone did I don’t know who would keep reading after reading a guy is up $6k and doesn’t sell. I seriously believed my option was going to be worth more. The greed got to me so bad. I wanted to pay off my second mortgage or my new car that greed got the best of me and turned me into a big looser!
I promised myself if I can sell out of AMAT, AAPL, and MSO successfully I am going to donate at least 10% to some youth community organization. I also believe the more you give the more you shall receive back.
I read a book about the city of Babylon. I wish I still had the book. I need to get read it again it had a lot of wise advice.
I’m going to make my goal or I’m not going to allow myself to trade real money for 2 months. I love trading. It’s one thing I really enjoy.
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