A volatile day

Posted on October 5, 2005 , filed under Stocks | Print This Post

Today we experienced some volatility in the markets. Speculative traders have come out in full force even with news of oil reaching a two month low. Tomorrow I expect the market to start off with a temporary rise as bargain hunters come out shopping before ultimately dropping again. I see no news or catalyst to cause the markets to rise. CAL has almost met my target buy price of under $10. The stock traded as low as $10.06 before ending the day at $10.50. I placed an order to purchase $1000 shares at $10. Tomorrow I will also place the same order to buy 1000 shares of CAL at $10.

Speculation is definitely up. I would advise investors to exit speculative short term positions if they have made a profit.

I won’t get in the habit of doing this on a daily basis, but for today I thought I would post up a market recap with a reminder of what I’m watching for the remainder of the week.

Today:

DJ Indu 10,317.36 -123.75
Nasdaq Comp 2,103.02 -36.34
S&P 500 1,196.39 -18.08