Good Morning. This morning I want to talk about yesterday's drop in the $INDU and the $SPX and determine how that action has affected our stocks. Yesterday, the $INDU and the $SPX dropped to erase this year's gains and retreat to the levels they were at in December of 2006.
How has this drop in the major indexes affected our stocks? First off, you may recall that I have issued a number of sell/ profit alerts in the prior weeks. I also warned you that the market was ready for a drop and that we should sit on hands and wait and see what develops. I want to remind you that the majority of our stocks do not follow the major indexes and they trade on their own merits. Now, let's take a look at how our stocks withstood yesterday's decline.
The following stocks have out performed the market since the beginning of the year, and are higher now despite yesterday's decline.
The stocks are: ADM, ANDE,APA, ARNA,CNQ,CRS,DIOD,ECA,EOG,GG,GSS,HMY,INTC ( this is the only exception), JOYG, OMG,OMNI,OVTI,OXY,PDC,PEIX,PSYS,SU,SWSI, WFT.
Therefore, what do you have to worry about? Nothing. All of the stocks have been trading on their own merits. They are disconnected for the major indexes. They did not participate in yesterday's selloff. I am pointing this out to you so that you can keep yesterday's drop in perspective and not panic. Remember you always have to keep the big picture in mind. Furthermore, we are holding these for a long time and sticking to our trading plan. This is the best course of action.
Edited by :Andrea Victoria Friend aka Daisy
Editorial Assistant for Trending123.com
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