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October massacre in November?



November 07, 2007 – Comments (2)

Perhaps the October massacre is going to be a little late this year.  Since October 31st, the volatility has been way above average, but the overall direction appears to be sharply lower.  November 1st and 7th both saw the Dow drop in excess of 360.  As I said in an earlier blog, It is a good time to keep some cash on hand for bargains which may appear in the future.

Here are my seven largest holdings as of the close of November 7th, largest first:  PCU, CNQ, BPT, GLYT, ATW, DE, and BHP. 

Here are my seven best gainer, percentage wise: BHP,PCU, PX, MVL, CNQ, PCP, and ATW.

I still advise avoiding financial stocks like the plague!  Also avoid any stocks involved in housing and mortgages. 




2 Comments – Post Your Own

#1) On November 07, 2007 at 8:16 PM, CJM777 (< 20) wrote:

In regards to the volatility with all the pressures on the economy - $$ , price of oil , subprime , etc. why would the stock exchange remove the restrictions on computer trading programs and the margin requirements on short sellers as they keep sellling short during a downturn.Why would they want to increase these swings - it is now harder to read the market on a daily basis. Is this just to force the individual investor out ?? What can the Fools do to fight these changes ??? Through collusion it appears that small investors could face huge losses so the rich could buy up the bargains the next day. How do you feel ???

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#2) On November 08, 2007 at 9:42 AM, edwjm (99.90) wrote:

There is no question that high market volatility favors those with deep pockets over the small individual investor.  I am determined to remain an individual investor, so I deplore the plethora of derivative products and program trading that make the markets more like a casino.  It seems to me that the markets would best be served by increasing regulations that promote stability rather than eliminating them!

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