Very Brief Market/Trading Comment 1:30pm January 4th. AXP And More.

[ 0 ] January 4, 2011 |

Just a very brief note. We would not let the TV and other market commentators scare you out of the market with the things they are saying now that the market has had a minimal decline today. To us there has not been much selling pressure today and in fact we added to some positions earlier today. Fred Lange of Lange Financial Services told me Sunday that whatever the market does the first day of the new year it will do the opposite on the second day. Nice one Fred! Use weakness to add quality stocks to my portfolio. Yes we believe there will be some kind of pullback however, do not think it will be as severe as the 8 to 10 percent many are calling for. We would use whatever pullback there is to buy stocks. Let the market tell you what to do, not all the so called experts on TV. If they were all so good they would not be on TV pitching stocks and ideas; they would be trading their own accounts and keeping 100% of the gains and losses!

The odds makers in Vegas have an Over Under wager for the closing DOW Price at the end of 2011. The over under is 11,500. DEFINITELY take the OVER on that one.

We will be discussing some stocks in the near future on here. Fred and I each took the Barrons quiz individually this weekend and for the question about the DOW Stock that will surprise on the upside we individually each chose AXP- American Express. Then yesterday Cramer has that as Number 3 on his list for 2011.

Lets see what the Fed Says in a while.

Happy Trading!

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Category: General, Markets and Trading