If you own US stocks, better buy a "Hard Hat" !
Things are looking really ugly on Wall St. today. The NASDAQ hit a new low for the year, and just about every trend indicator is pointing downward. IMHO yesterday's Fed Reserve comments about further increases in interest rates are at last being taken seriously by businesses, and corporate profit announcements appear to be falling short of forecasts. If you own stocks or sector mutual funds, you may want to consider shifting some investments around before the losses get worse.
On another note, Scores stock (ticker symbol SCRH.OB), which sold for $7 per share 2 years ago, closed at 10 cents today an all time low ! However, Penthouse stock (ticker symbol PHSL.PK) went up 10% to set a new all time high of 22 cents. Hmmm ....
Re:If you own US stocks, better buy a "Hard Hat" !
My beauteous Economics professor ; ) thank you for this post. I feel better now for squandering my extra dough on shoots and giggles instead of stocks.
Re:If you own US stocks, better buy a "Hard Hat" !
That's right Penthouse Executive Club stocks are on the rise and in my opinion is a good investment.
Re:If you own US stocks, better buy a "Hard Hat" !
Well it seems all stocks are doing bad, however on friday scores went up to 12 cents and Penthouse drop to 20 cents but Penthouse is still higher in general. Here's a record low for others.
NASDAQ VOLUME LEADERS
Symbol Name Last Trade Change Volume Related Info
DELL INC 35.14 Jul 23 0.56 (1.57%) 11,367,011
MICROSOFT CP 28.03 Jul 23 0.97 (3.34%) 97,557,632
YAHOO INC 28.19 Jul 23 1.07 (3.66%) 15,763,239
more here: http://finance.yahoo.com/actives?e=o
Re:If you own US stocks, better buy a "Hard Hat" !
Quote:
Originally Posted by Diva link=board=6;threadid=11232;start=msg143953#msg143 953 date=1090809041
That's right Penthouse Executive Club stocks are on the rise and in my opinion is a good investment.
I agree that Penthouse stock has some promise. However, that stock also incorporates penthouse magazine operations (which is currently in bankruptcy) and operations of the online credit card processing service they own, meaning that PEC profits are only one of many factors affecting the stock value.
Because both of these "penny stocks" are not directly traded on a big exchange, price moves can be much more 'volatile'. A single person attempting to buy/sell $100 grand worth of either of these stocks in one day could move the price several cents. This compares to a single person buying/selling $100 grand worth of a blue chip stock and not moving the ticker at all.
Re:If you own US stocks, better buy a "Hard Hat" !
I'm bringing this back up to the top, because in the past few days all of the US stock indexes are flirting with breaking through their 200 day moving averages to the downside. The 200 day moving average is a generally accepted indicator that a trend has truly changed. Even though there has been an occasional "upward bounce" in the markets in the last couple of days, the major indicators are pointing towards "aaaooogah, dive, dive!". If you have money invested in US stocks or mutual funds or a retirement plan/insurance policy with a US stock component, you may SERIOUSLY want to re-evaluate your position.
Re:If you own US stocks, better buy a "Hard Hat" !
It would appear that we are back above the 10000 rut for big caps, and hanging around the 2000 rut for NASDAQ. The election is very close and uncertainty for drugs stocks.
Citibanks continuing quiet campagin to have the goverment sell the new deal fannie mae and later freddie mac if Bush is relected affects some financial stocks a bit.
I personally wouldn't want city bank being my mortgage lender or controling the policy on vast pools of mortgages.
Deflation caused by job outsourcing and lower and lower pay would be a reason to sell stocks if the trend was made permanent.
I'm holding stocks but I'm either in defensive stocks or large growth tech stocks. Technology is like the drug business, because once new computer technology is out, abnd it is truly new, every one needs to upgrade or be left behind in the dust of new equipment.
So I think this is just a delay in the recovery, with the exception being declining real income in the country as a major problem.
Thought Bush would do a better job with his buddies on bringing gas prices down. They are still really high. "This is no way to buy an election!!!" With gas at $1.95 a gal.
Re:If you own US stocks, better buy a "Hard Hat" !
I'm essentially waiting for some clear trend to emerge regarding the november election possibilities. At the moment, I have sold every single US stock in my portfolio, and the only stocks I'm holding onto are Chinese companies which deal in "raw materials" (specifically copper, aluminum and beer !). Most of my investment money is sitting on the sidelines in a GIC fund waiting to go back into the US stock market as soon as a turn is confirmed (probably the end of this month).
Re:If you own US stocks, better buy a "Hard Hat" !
If you are looking for good ways to invest try researching " the dogs of the dow" there are books on it. I don't know too much about it but I will be looking into it a lot more. Someone I work with uses it all the time. The average long term return is about 17%. This isnt to say its17% a year but thats the average for using this system for investong. If i learn more about it ill drop some knowlegde for all of you to share in.