Online Stock Trading | Markets Sell off on Higher Volume

Markets Sell off on Higher Volume


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Bhutto Assassination Shakes Trader’s Bones

Stocks were poised to start Thursday’s session looking to finish higher for the 7th straight day. Just after 8 am EST news struck that opposition leader in Pakistan Benazir Bhutto had been assassinated. This news rocked stocks, sending Index Futures lower and Crude Oil prices higher. Throughout much of the day stocks drifted lower with brief flashes of strength. During the final hour, institutions began to dump stock on the market. The final hour of trade saw stocks dip to the lows of the session. An overall sad day in the world of politics and a bearish one for stocks.

My game plan hasn’t changed much over the past few weeks. Keeping a healthy percentage of cash with small positions in quality growth stocks. To me, growth stock = 25% or more YoY performance in Sales and EPS growth. More importantly, their chart must be sound. PRO, like I stated yesterday has all the fundamentals I need in a stock. However, 12/6 showed someone was dumping a lot of stock. It will take some time to clear that day and begin to show real accumulation. My game plan is working right now with this type of market, just seeing it through now.

An interesting stock that should only remain on a WATCH LIST is OPTT. Its growth numbers aren’t very good however, this IPO has not been smashed. I would continue to wait and see on the fundamentals then see if the chart follows.

UFPT is another stock that I am looking for to make a base. Its growth numbers continue to look better as each quarter rolls by. Let’s make a base!

Enjoy!

Market Speculator

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Comments

3 Responses to “Markets Sell off on Higher Volume”

  1. Monster Stock Trader » Blog Archive » Markets Sell off on Higher Volume, Bhutto Assassination Shakes Trader’s Bones on December 28th, 2007 6:40 pm

    […] (more…) This entry was posted on Friday, December 28th, 2007 at 12:18 pm and is filed under Market Speculator. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. […]

  2. Monster Stock Trader » Blog Archive » Markets Sell off on Higher Volume, Bhutto Assassination Shakes Trader’s Bones on January 6th, 2008 3:52 pm

    […] (more…) This entry was posted on Sunday, January 6th, 2008 at 12:51 pm and is filed under Market Speculator. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. […]

  3. Monster Stock Trader » Blog Archive » Markets Sell off on Higher Volume on January 8th, 2008 6:26 pm

    […] (more…) This entry was posted on Tuesday, January 8th, 2008 at 3:25 pm and is filed under Market Speculator. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. […]

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