"THAT'S JUST MY OPINION" - VOL. - 37
Let's see - where do I start! Today's high on the DOW was 16,398.95 - then in a matter of less than a hour went down to 16,226.09!!!! and finally closed at 16,321.71!!!! WHY? Two reasons- let's take the rally up to 16,398.95 first - there are so many traders trying to pick the top of this market - they keep shorting the market - well on the rally they got their head handed to them. Then what happened - news that Russian troupes were invading the Ukraine!!! The DOW fell quickly to 16,226.09.
3 things were in play on this down move!
1 - The shorts started selling stocks short on the news to make up their losses on the earlier run up!
2 - Short term traders panicked and sold their stock holdings!
3 - On the last trading day of the month - FOR THE LAST 8 MONTHS - FUNDS HAVE SOLD THEIR HOLDINGS - WHY? TO BOOK PROFITS!!!
Well, you and I both know that means they have accumulated a lot of CASH - NOW SITTING ON THE SIDELINES HOPING THE MARKET WILL GO DOWN SO THEY CAN BUY STOCKS!!!!
THAT IS WHY THIS MARKET HAS A FLOOR!!!!!!
Oh - don't get me wrong - it is possible the market will go down - but not for long!!!!!
"THAT'S JUST MY OPINION"
Those of you that are 45 years and younger - PLEASE DO YOURSELF A FAVOR!! CHECK OUT -VOL. 20 - IT'S IMPORTANT FOR YOUR FUTURE!!!
People ask me - I see on your VOL.- 28 - you told us to look PG and KMB.
Vol. - 36 - you told us George Soros bought 9.3 million shares of TEVA.
SO WHY DON'T YOU OWN ANY OF THESE STOCKS!!
ANSWER - I AM FULLY INVESTED - IF I HAD CASH IN THE ACCOUNTS - I WOULD HAVE BOUGHT THESE STOCKS - SO THERE!!!!
Remember on my last blog - I told to watch if the DOW closed 2 days over 16,225.70 - WELL IT HAS!
THAT IS WHY I'M STILL BULLISH ON THIS MARKET!!!
Now pay attention to WASHINGTON!!!
There is a movement in both the HOUSE and the SENATE to reduce THE CORPORATE TAX RATE FROM 35% DOWN TO 25% AND ELIMINATE TAX LOOP-HOLDS SO WE CAN COMPETE WITH OTHER COUNTRIES!!! WE ARE ONE OF THE HIGHEST IN CORPORATE TAX RATES IN THE WORLD!!!!! THAT WOULD MEAN MORE JOBS AND MORE LENDING TO SMALL BUSINESSES!!! THAT WOULD BE HUGH - NOT ONLY FOR THE US ECONOMY BUT FOR THE STOCK MARKET!!!!! STAY TUNED!!!!!
Now let's look at this week's action.
The DOW for the week closed @16321.71 - up 218.41 or up 1.36%
Now let's look at my wife's and my son's account.
DIS - closed @ $80.81 - up 0.68 cents or up 0.85%
If this stock keeps going up - I can see a 2 for 1 stock split coming in the future!
NKE - closed @ $78.30 - up $2.05 or up 2.69%
back on November 15th - 2012 - NKE announced a 2 for 1 stock split - that day the stock closed @ $90.83 after the announcement! NKE is approaching that $90 figure.
I have a theory on stock splits as long as the stock is worthy!
3 years after the stock split - the stock returns to its original price before the split. That's at least a 100% return!
AIG - closed @ $49.77 - up 0.79 cents or up 1.61%
CHK - closed @ $25.91 - down 0.66 cents or down 2.48%
THIS STOCK IS A STEAL!!!
SD - closed @ $6.45 - up 0.05 cents -or up 0.78%
MU - closed @ $ 24.19 - or down 0.89 cents - or down 3.55%
THIS STOCK IS A STEAL!!!
JCI - closed @ $ 49.40 - or down 0.32 cents - or down 0.64%
THIS STOCK IS A STEAL!!!!
RIG - closed @ $ 42.40 - or down 0.74 cents- or down 1.72%
THIS STOCK IS WAY OVERSOLD - IT'S A STEAL!!!!
FDML - closed @ $ 18.84 - or up $1.31 - or up 7.47%
Again THIS STOCK IS A STEAL!!!
STAY TUNED!!!!
Thank You;
Len Dwelle
lendwelle@hotmail.com
Have a great week!
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