Overall good week for me. The markets rebounded after a month's long sell off. Just from the readings on the web, I think that the stock markets have bottomed and will give us a nice rally through the summer; Dow Jones will approach 12,000. Again this is a near-term prediction.
I pretty much sat tight this past month and did no buying nor selling of any stocks. Every stock in my portfolio was down. I am a long-term trader and try to buy stocks that are going to multiple several fold over the long-term. I did sell some natural gas and oil stocks earlier this year after a nice year-long run-up on some of them. With those sales, I bought some media stocks, REITs and a trucking company, all have done well with the exception of the trucking company which has gotten destroyed in the down-draft of the May sell off after I purchased some shares in April.
IMHO, 2010 and the coming years for the stock market will not be nearly as fruitful as the past year. I am finding less bargains as the markets rise and shorting the markets is not my specialty, but I may one day buy puts on the S&P to hedge my portfolio when the markets return to mania levels.
2009 was a slam dunk, more on that later.
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