Published:March 11th, 2011 12:00 EST by Bruce Calder
One Good Bet
The markets could be very weak again today, but I suppose my petty money problems are dwarfed by the earthquake/tsunami disasters in the Asia/Pacific region. I`m sure there will be some dude in Hawaii who`ll get himself killed trying to ride the "wave of a lifetime."
I`ve got my sell orders in. I don`t plan on buying anything unless I think I`m getting a terrific bargain. This is the attitude most people are going to have today so I hope it won`t be an absolute bloodbath.
I`ve got my sell orders in and I`m bracing myself for another horrible day. When your stocks go down at times like this there`s no way of knowing if your red arrows are caused by everybody dumping their stocks for no good reason or if the company is actually circling the drain.
And you never know if a stock is 5% down if it will soon go down 10% more or if it`s such a bargain that its share price will start to recover. Anything I sell today will be sold at a price higher than it closed yesterday.
There`s only 1 good bet today which my system has identified with a good combination of insider trading and positive technical signals.
(HNL) - Horizon North Logistics. Has climbed from under $1.00 in 2008 and looks to open today at $4.25, although this did drop $0.19 yesterday and in this weak market it`s best to be cautious if not out of the game entirely.
Best of luck to all whether you`re battling a natural disaster or just battling the markets.