The Fox Business Block on Saturday reported that this week was the largest decline in the market since October 1987.
In that same business block, Gary B. Smith said he was scared and was buying gold.
Gary Kaultbaum was on Fox Business News Friday evening. He is 100% cash. He indicated his feeling is that this is the start of something big.
The 7 stocks/ETFs I own were all sold this week by the stop loss orders I maintain. I keep a table of the highest close since I purchase the stock/ETF and keep a stop loss order entered at 7% less than that highest close. I previously used 8% but found any investment which down 7% always went to 8% or higher loss.
IBD TBP’s Market Pulse is “Market in Correction” – In Marhew Glagani’s book “How to Make Money in Stock – Getting Started” he says in a market in correction there are 3 rules:
1. Don’t make new buys.
2. Protect yourself (sell to protect gains or stop losses).
3. Prepare now to profit in the next uptrend.
My current investments:
IRA#1
SBiotechnology has a price of 245.69, a sell price 264.79, a rank of 18, and is a Sell. I should have sold it last week and put up with the Fidelity phone calls when I broke their excessively stupid rule to hold funds for 30 days or they can limit in the future your fund purchaeses. My next buy will be presented as a buy this fund, or buy this comperable ETF and maintain a stop loss – no holding periods on ETFs. Most 401ks will not let you do that but any IRA will (as long is you are not in a fund only IRA). Fidelity will lose the fund management fee but charge me $8 to buy and sell. All in all they will lose money. As an example, if you hold 100k in SBiotechnology for 6 months, Fidelity currently earns about $370 and may earn more but currently, voluntaryly limits their total charge $575.
IRA#2
SPharmaceuticals has a price of 23.04, a sell price 23.67, a rank of 05, and is a Sell.
SHealthCare has a price of 225.75 a sell price 234.54, a rank of 16, and is a Sell.
SmallCapGrowth has a price of 19.90, a sell price 20.14, a rank of 07, and is a Sell.
My portfolio changes this weekend:
IRA #1 – SBiotechnology
IRA #2 – SHealthCare, SPharmaceuticals, SmallCapGrowth
My portfolio market exposure after this weekend’s changes:
IRA #1 – 00% invested
IRA #2 – 00% invested