4 New Highs today and 1,075 New Lows
Maybe you have heard of a few of them – Berkshire Hathaway, General Electric, Citigroup, Microsoft, Bank of America, Intel, American Express, Goldman Sachs, Yahoo, Motorola, Applied Materials, Nokia, Micron, Dell, Disney, JA Solar, Freeport McMoran, Dow Chemical, International Paper, eBay, Amazon, US Steel, AK Steel, Google, Nike, Sears, Lockheed, Deckers, The Gap, Whirlpool, ConocoPhilips, Boston Properties, Black and Decker,
Remember when a bunch of these were the high fliers? The names Cramer told you that you had to own? Didn’t he have a $1,000 target on Google? Opinions are destructive. All they do is offer hope to those without a discipline for what and when to buy or sell. I deal in facts. I made a killing today. Remember those wedges that were breaking on Utilities and Energy? There was also one on Gold. Take a look at how SDP, DUG and DZZ did today!
The guys on TV must live in a parallel universe, because all I hear them talking about is how you need to buy. What planet do they live on? Almost 1,100 companies hit new lows today! The markets were down about -5.2% across the board! That’s the average annual return of the stock market over the last 108 years. And you lost it in a day.
All the clues you needed to keep your money safe were right there in front of you.
I will post on potential risks over the weekend.
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