JP MORGAN:
Recall March 20th when I made some predictions on JP Morgan's stock. 10% gains and losses over 15 day periods. Another words, every two weeks we can expect a change in stock directions up to 10%.
As predicted the stock shot up 10% from $42 to a bit more than $46. It dropped back down, shot back up and is now down again. Unless you really want to go by my 10% rule (which is more of a theory) to guess the bottom (I don't recommend it), don't buy JPM until it starts to move up again.
The "rule" is more about when the stock goes up and down and less about "how much" it will go up or down. Once it falls, it can keep falling. From the shape of the trend since last Nov, I have a strong feeling the stock could drop a lot....30% sometime within the next couple of weeks. If it does, get ready for an equally huge rally back up! I'm keeping an eye on this one!
APPLE:
Ugh! I was watching this stock for a good month and in the past couple weeks while I was distracted with other stocks, Apple shot up....predictibly! This is ruining my day. A good 20% could have been had.
After some sideways movement from late January to late March, the stock broke not only resistance, but also broke the 30 day moving average! And guess what? It popped from $130-$160. That's just a bit over 23%! Where was I during this jump? Vacationing in Hawaii.
I had full access to Internet and didn't spend a moment looking at stocks!!! I should have! How did I forget what Simon said about stock trading that basically got him into it? "You can do it any where anytime." Hawaii shouldn't have stopped me especially since I was online for 2 hrs a day. Somebody slap me.
Brian
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