Balance: Inception 01/07/11
$1977.32 Stock
$13.65 Cash
Total $1990.97
Balance: End of Week 22 06/1/11
$1,966.02 Stock$36.56 Cash
Total $2,002.58
Since Inception: -20.16% excluding cash inflow
Well I think my portfolio is done going down. Apple I believe has bottomed and the momentum in the market has gone from overly pessimistic back to a positive outlook. Stocks are oversold and my portfolio is a perfect example. Down 20%! Nothing has changed to negatively impact my stocks and that is why I continue to hold them even when they were tanking. The month of May is always tough. We should start to see the big money step back in and buy stocks on the cheap to drive prices higher. Apple (AAPL) will be one of the stocks surging higher as well as my wild card gunslinger stock Westport Innovations (WPRT)
And for those of you who caught my message last night about Apple hitting the bottom here is why I believe the pain has come to an end. From the books I have read the following candlestick chart tells a story of Apple. Yesterday’s trading created a hammer (a small body with a shadow at least 2 times the body), which signals that a possible reversal in the trend could change. A strong move to the upside in the day following this signal confirms that the trend has changed into the bulls hands. As of today Apple moved up 3.17% or $9.98 a share. I would say the tides have turned. Chart provided by yahoo finance
Turnaround Challenge
Goal $352.91
Current $-247.58/352.91
% of Goal -70.15%
Current Holdings:
Apple (AAPL)
Cosi Inc. (COSI)
Westport Innovations (WPRT)
Clay-
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