Market Ups and Downs – entry 006
(This post is part of a series of posts about being an investor newbie)
So it has been a while since my last post. I have not made any market moves since then. I decided to ride out my stock picks. In fact, I did some follow up research on them to see if I should dump the stocks, take my losses and consider it a lesson learned. But, after looking at the charts (technicals) and some of the financials such as earnings and ROI (fundamentals), I decided to stand by my picks. The next day I recovered about half of my initial loss. The next day another half of that (a total of 75% recover). So I was still down, but not significantly. Now both stocks were not moving equally. Over the next few days LGND recovered nicely and LCI remained lagging. Then they switched and LGND ended up at about a 4.5% loss, while LCI recovered up to a 1% loss.
They continued flipping and flopping but overall I have receive red most of my money and as of the close of the market yesterday, I am actually up $1.96 not including the $20 in commissions on the 2 purchases. LCI is down 2.19% while LGND is up 2.79%. I will review these stocks again at the end of each week along with some other options (listed below). If and when I feel either of these stocks just are not cutting it for me and I feel one of the other stocks I am researching/following has moved into a better position, then I may make a move.
Here is my current watch list:
I know that seems like quite a list but all I need to do is look up the weekly chart each week and look for a pattern (the cup with handle or long, flat base with sudden price and volume spike). If I see that then I will get into the other data at that time and make sure I am still willing to invest. Remember, you can go to investors.com and click on Research>> IBD Charts and change the chart to weekly.
(Disclosure: Stocks listed in this post are based on the research of the author but DO NOT constitute investment advice. They are simply the personal opinions of the author based on independent research. Some of the stocks listed may be owned by the author and by The Money Professors. Neither The Money Professors or the individual author of this post are licensed security advisors or brokers.)