My Journey To Become A Super Affiliate

Yesterday, the Market (US) continued its rally since the market reversed into a new uptrend when I reported it last Thursday.

As you can see, I am overweight on FINANCIAL STOCKS in the WA portfolio as this sector has been way oversold and represent the most upside the next 1-2 years. Another stock that I am waiting to go back in again is Bear Sterns (BSC).

Well, best time to be selling Put Options now.. earn some cash this Christmas!

Popularity: 20% [?]

Many investors woke up today expecting that retailers would take the spotlight in the wake of Black Friday, but it was once again the financial sector that drove the market this Monday. HSBC Holdings (HBC) said it’s started the process of bailing out 2 of its struggling structured investment vehicles to avoid a forced liquidation of the assets, while Citigroup (C) responded to a CNBC report that “massive” layoffs are imminent as the company tries to control its mortgage-related losses. As if that weren’t enough finance-related turmoil for one Monday morning, UBS sent shares of Freddie Mac (FRE) and Fannie Mae (FNM) tumbling after it downgraded both stocks to “neutral” from “buy,” while J.P. Morgan (JPM) issued a late-afternoon report that it would eliminate 100 subprime mortgage jobs in its Ontario, California retail center.

With Citigroup shares now trading south of the 30 level for the first time in 5 years, this morning’s relatively mild selling pressure accelerated rapidly as the afternoon wore on. The Dow Jones Industrial Average (DJIA – 12,743.44) closed on a loss of 237.44 points, or 1.8%, as 28 of its 30 components slipped into negative territory. Boeing (BA) and Johnson & Johnson (JNJ) were the 2 lone Dow components to close the session on a positive note.

The S&P 500 Index (SPX – 1,407.22) was even harder hit, giving up 2.3% by the time the closing bell sounded.

S&P 500 (SPX – 1,407.22) - support at 1,400; resistance at 1,510

Popularity: 13% [?]

Trading volume was predictably anemic today, as investors ostensibly flocked to their retailer of choice to load up on Black Friday savings. However, that’s not to suggest there wasn’t some bargain-hunting happening on Wall Street today, too, in the wake of Wednesday’s stomach-churning Dow plunge.

The S&P 500 Index (SPX – 1,440.7) also attracted some buyers, and tacked on nearly 24 points as it blazed its own path up the charts. The SPX is perched above support from its 20-month moving average.

S&P 500 (SPX – 1,440.7) - support at 1,400; resistance at 1,510

Popularity: 13% [?]