While Wall Street hails central bank's decision to cut the fed funds rate by a half-percentage point, we hail to Sam Adams and the ongoing performance of our Dow Jones Trader Portfolio.
That about sums it up! ...
The past several weeks of infinite media speculation and lingering financial analysts reciting crystal balled forecasts in unison all came to an abrupt end at 2:20 PM (EST) ... and like a sling shot, the Dow shot up +335.97 (+2.51%) as the market welcomed the news of the surprise rate cut. On a percentage basis, the Dow added 2.5 percent, its best one-day gain since April 2, 2003, when it gained 2.67 percent.
Last Thursday we did state our indicators pointed to a trend reversal for the first time in awhile, and coincidentally at 2:20 PM today our Dow Jones Trader Portfolio did profit from the Fed's half point decrease with the 4 new positions we purchased.
Additionally, today we also increased our holdings by adding the following two new positions;
American Express Company (AXP) and once again, General Electric Company (GE), which the stock broke-out and just hit a new 52-week high along with PG. Worth noting here, we have now gone from 6 stock holdings to 12 in less than one week.
Below is a complete portfolio list of all our holdings:
FUN $ FACT: ... And for shits and grins, when we say ALL "media speculation and lingering financial analysts reciting crystal balled forecasts in unison all came to an abrupt end at 2:20 PM", we really meant that! The charts below illustrate a Wall Street phenomena which is rarely seen ... I guess you can call it "the power of the Fed!"... This Dow 30 snapshot was literally taken less than 30 seconds into the decision announcement to cut the fed funds rate by a half-percentage point...
No comments:
Post a Comment