Dow Down 4%, RecordPriceBreakout.com Portolio Up .53%
Crude oil surged above $133 a barrel for the first time today, pushing the stock market lower. The federal reserve didn’t help: the Fed released minutes from its April 29-30 meeting suggesting the central bank doesn’t expect to cut interest rates anytimesoon and expects economic growth to slow more than investors expected. With the Dow down about 227 points at the 12,601 level, its two-day slide has now passed 425 points.
I love when the stock market does this, as it gives me a chance to to toot Record Price Breakout.com’s horn.
Continuing where yesterday’s post left off, I have posted the results of the RecordPriceBreakout.com public portfolio over the same two days. Our $100,000 investment netted .53% or $528.52, instead of the 4% or $4,000 loss it would have sustained if the stocks we chose were tied directly to market performance.
| 5/20/2008 | ||||
| Symbol | Last | Change | Position | Profit |
| MUR | 96.58 | 0.91 | 105 | 87.89 |
| RDC | 47.27 | 0.73 | 215 | 34.51 |
| TE | 19.44 | -0.26 | 530 | -5.05 |
| MOS | 126.23 | 2.36 | 80 | 297.90 |
| UNT | 78.11 | 1.52 | 145 | 118.73 |
| CGNX | 26.32 | -0.19 | 385 | -5.00 |
| VMW | 67.71 | -1.58 | 155 | -106.98 |
| CCK | 28.71 | 0.08 | 360 | 2.30 |
| DVN | 124.01 | 1.78 | 95 | 220.74 |
| MEE | 64.43 | 0.77 | 215 | 49.61 |
| Profit | 694.63 |
| 5/21/2008 | ||||
| Symbol | Last | Change | Position | Profit |
| MUR | 99.16 | 2.58 | 105 | 255.83 |
| RDC | 46.24 | -1.03 | 215 | -47.63 |
| TE | 19.87 | 0.43 | 530 | 8.54 |
| MOS | 124.62 | -1.61 | 80 | -200.64 |
| UNT | 77.19 | -0.92 | 145 | -71.01 |
| CGNX | 23.49 | -2.83 | 385 | -66.48 |
| VMW | 65.72 | -1.99 | 155 | -130.78 |
| CCK | 28.19 | -0.52 | 360 | -14.66 |
| DVN | 123.26 | -0.75 | 95 | -92.45 |
| MEE | 67.3 | 2.87 | 215 | 193.15 |
| Profit | -166.12 |
Portfolio Primed For Recovery
I fully expect the market to get hammered again on Thursday, and take a rest on Friday. However, I think the portfolio will end up even or even eek out a profit over the same period. With all of this considered, the portfolio is set to rock when the recovery happens… And it will happen. My friend John Lansing, owner of Trending123.com has this to say about the market:
The Dow Jones Utilities Average (DJU) is used as a surrogate for bond prices. It is often a leading indicator of broad market trends since stocks in this sector are typically the most interest-rate sensitive. When we see bullishness in the DJU, it is a tip-off that something big is revving to explode. After all, the last time the Utilities and the Transportation indices went wild was 1998–right before the (raging) bull market!
I couldn’t agree more. I’m seeing more VERY strong price patterns develop now than I have seen in the past decade combined. There are two absolutely Perfect cup with handle patterns that I am currently following. UNT, which I personally own and is part of the public portfolio, has alread broken out of the pattern and is off to the races. AAPL is currently forming the handle and I can’t wait for it to complete the pattern!
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