Why there’s still room for the Dow to zoom
I had a horse in the race when the Dow went into freefall in 2008. I just couldn’t sleep at night because I had a lot of money on the table. So I would get up in the middle of the night and watch my stocks. Finally, had enough and sold out all my positions. I warned a few folks too that the market was about to go into freefall.
How did I know? I am not sure. But boy was I right. Some of those stocks have never recovered especially some of the tech stocks on the Nasdaq. I had lots of tech stocks and some bank stocks that went to zero.
One in particular was bought up by JPMorgan and I 10 shares based on the amount I lost and the JPM hit 50.00 and I sold that shit before you could say JPM. That stock has never returned to 50 but is close now. When it was down to 25 I should have bought a boatload because it also pays a dividend.
My new tack is that I buy a little bit of everything and my present positions I can hold for a year or more because I don’t have the same amout of money on the table. And it seemed that the dump in May plan was in place but hell nobody told me.
So there I was in California and the freefall in the banking began. The stock I owned in that bank went to nothing, forgot the name but like I said JPM bought it and I got 500 dollars for what I am sure I did not spend on the defunct stock.
I like bank and tech stocks. Call me crazy. I have BIDU stock now and I recall when it was worth 300/share. I should have bought it when I saw it for 100 but I have a few shares and hopefully they will grow. There is still lots of room for the Dow to zoom higher to 1400 eventually.
- Apple, Google about to join Dow Jones stock index? (news.cnet.com)
- Stocks Surge on Strong Manufacturing Report (thestreet.com)
- Apple, Google could join Dow index: report (thestar.com)
- Why the Dow Needs Apple and Google (wealthwire.com)
Posted on May 1, 2012, in Government Trough and tagged Bank of America, Business, california, Dow, Dow Jones Industrial Average, Hewlett-Packard, JPMorgan Chase, NASDAQ. Bookmark the permalink. Leave a comment.