Attack of the Negative Headlines!!

If you frightened easily, don’t look at these headlines.
We have Refco imploding on us.
The trade gap got wider.
Another fishy hedge fund.
Heating bills may rise up to 50%.
The Return of Stagflation?
The 10-year T-bond just hit 4.5%.
The Dow dropped -0.32 points today, and the S&P lost -0.84 points.
Let me try to find some positive news in all this. First, General Electric (GE) should have a good earnings report tomorrow. That should add some optimism. Also, crude oil dropped below $63 today. That’s encouraging. Even though the market fell by a small bit today, the energy stocks weighed the market down. Excluding energy, we had a pretty good day. Another positive will (hopefully) be the elections in Iraq. Voting there has already started.
Our Buy List rose 0.58% today while the S&P 500 fell -0.07%. Sixteen of our 25 stocks rallied, and Progressive (PGR) made a new high. Shares of PGR rose by 3.52% today. Some of our other winners included Thor Industries (THO) +3.20%, Quality Systems (QSII) +2.89% and Medtronic (MDT) +2.12%. I love making money on a boring day with bad headlines
Tomorrow, we’ll have the inflation report, plus earnings from General Electric (GE), UnitedHealth Group (UNH), BB&T (BBT) and Boston Scientific (BSX). Stay tuned.

Posted by on October 13th, 2005 at 4:03 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.