Well I don't have much to say about the Market Action for the past few days. Every report that has come out has been perceived as negative. Unemployment is still a problem, home sales are down, BP has yet to fix the oil leak in the gulf, and the financial reform has passed, which leaves some uncertainty in the financial sector of what to expect for future earnings.
Tomorrow will be a big day as everyone awaits this months non farm payrolls. This is the best gauge to determine the strength of the employment numbers. We need to see increased jobs! I don't expect to much trading tomorrow as we go into the holiday weekend. One positive I saw this week was from Ford Motor Company. Just this week they announced they plan on paying back $4 Billion on their debt. That's a great sign for this automotive company. This puts Ford ahead of the rest and allows them to invest in their company to gain market share instead of paying interest on $4 Billion. A strong balance sheet is also what fund managers look for in a company and by Ford paying off debt they should gain some buying interest across the board from all the fund manager's. Ford will be a good stock to watch over the next few years.
After seeing the market movement this week all I can say now is continue to be cautious. Don't worry about these ups and downs. Summer months are historically volatile as not much trading occurs as many traders take time off and the volume of shares traded is significantly reduced. Continue to pay attention to the high yield stocks as is seems that these are the only real stocks that are somewhat protected from the severe market downturns.
In the meantime try to read as many books as you possibly can on the subject of investing. Educate yourself! Prepare yourself for when an opportunity arises you will know what to look for. This will give you an advantage when the market becomes positive and you invested your money wisely by making the right decision.
Here is a list of books that I have read and I consider extremely helpful to my investing success. I suggest if you have some time you could pick one up before the holiday weekend.
1. Real Money-Author Jim Cramer
2. Mad Money-Author Jim Cramer
3. Stay Mad-Author Jim Cramer
4. Getting Back To Even-Author Jim Cramer
5. Invest Like A Shark-Author James 'RevShark' DePorre
6. The Secret Code Of The Superior Investor-Author James K. Glassman
7. The Market Maker's Edge-Author Josh Lukeman
8. An American Hedge Fund-Author Timothy Sykes
9. Beating The Street-Author Peter Lynch
10. The Single Best Investment-creating wealth with dividend growth-Author Lowell Miller
This selection of books should keep you busy for awhile. LOL!
I apologize in advance as I will not be blogging this weekend as I will be enjoying myself and having some fun in the sun!
HAPPY HOLIDAY!
Thank You,
Clay-
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