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Archive for May, 2007

My account balance was up over 7% this month, so, +505.13 is not exactly what I’d like to see but I’ll take it. My open positions are underwater big time but still within my money management rules, I will not close them.

Historical Results
Looking at today’s actitivy for the Dow Jones I see a congestion around the 13620 and 13660. No signs of heavy selling yet, on the contrary.

Current Unrealized Profits

NCX was downgraded last week to neutral but is showing some interesting strength over the last two days. I’ll re-enter it if it holds above the $ 39 area.

AP - The economy nearly stalled in the first quarter with growth slowing to a pace of just 0.6 percent. That was the worst three-month showing in over four years.

U.S. growth appeared to be slower than investors anticipated when the Commerce Department estimated Thursday that first-quarter GDP clocked in at 0.6 percent, down from the 1.3 percent projected in April and lower than analysts’ recent prediction of 0.8 percent. Wall Street received good news on employment, however, when the Labor Department said the number of U.S. workers filing jobless claims dropped last week for the sixth time in seven weeks.

The most interesting part is that the Dow futures are holding yesterday gains and slightly up. I would have thought that the performance for most stocks are related to economy growth — apparently wrong. Looking at the 30 mins chart of the Dow Jones index it reversed to the upside and broken through the 13,600 area. Unless we reversed below 13,500 the chart tells it should continue up — amazing!