Thursday, November 4, 2010

Update and fundamental thoughts

First off, I ended up concentrating all of my holdings into one stock. I got in and out of WYNN with a small profit, it has since gone up. Oh well, so has everything else I had. My equity has retracted in price some but I have decent profit. I was questioning myself the past few days as I had nearly retraced ALL of my losses for the year. Normally when I start counting my money and feeling good it is a good time to take profits off the table. It is a significant amount of money I have paid tuition with this year.

When looking at charts of overall market we have held up nicely, not really fallen apart. I do not often feel one way or another about market movement (feel or think about things is different than chart reading) I think that the election results will put an end to things in our government that many view as creating socialism and uncertainty. With a divided Congress, that which passes must more so be reasonable, good, satisfying, and proper. I think this could serve as a catalyst for further market growth.

Besides, all of the previous quarters expectations were underestimated...

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