August 14, 2010 | In: Uncategorized
The End of a Very Bad Week!
The storm is over, and today marks the end of a very, very bad week, where the DOW and the S&P went down 3.25% and 3.73%, respectively. Since my money was mainly in risky financial equities, my portfolio went down around 10%, but today was thankfully not that bad, and most of my stocks started going up, including BAC and CVBF.
I hope next week will be a good week, and there’s no reason (so far) not to. After all, the market already adjusted to all the bad reports and statements (again, thanks Bernanke) that came this week.
If I’m able to liquidate some of my stocks, I will take a look at AIB, I have none at the moment and this stock is very close to the bottom. Although AIB is losing money, its Book Value Per Share is 12.78, which is 6 times the amounts of the current trading price, and for me this is extremely bullish (AIB can be easily taken over). The stock is down 17% since August 3rd. I would be lucky if I can pick the stock at 2.15 next week. I’ll probably buy only 1,000 shares though.
Another stock that I’m interested in is (again) MLNX, I hope I can pick this stock at around 14.70. I will probably buy only 300 shares of MLNX.
A safer stock for me is BP, which is currently at 38.48 in after hours trading. I bought and sold this stock 2 weeks ago twice in the same hour and made money both times! I love BP, let’s see how much the stock will be next week…
I am also interested in MAS (which is a stock that scared me, until I figured out the pattern) at $10. Let’s see if i can pick it at this price next week… I will buy 500 MAS at this price.