The week was ugly and the market took no prisoners. My portfolio took a severe hit this week. All of my stocks are now technically broken and it will take some work to reestablish an uptrend.Monday was brutal to the technology and metals sectors and I was forced to sell some AAPL options to avoid a margin call this week after the Veteran's Day massacre.
Tuesday gave us a dead cat bounce, but we were unable to hold critical support levels and break through the 1490 area on the S&P. I spent much of the week fretting about GRMN and expecting an announcement everyday. That announcement finally came on Friday and investors cheered GRMN walking away from the Tom Tom bidding war.
The lack of good news or important announcements kept me from making many trades this week. PCP continued to disappoint and fall lower, while ROCM's earnings announcement failed to energize the stock.
I finished the week a lot poorer than when I started it and look forward to what will hopefully be a turnaround week coming up.
No comments:
Post a Comment