Columbus Day Recap and Forecast

Posted on October 10, 2005 , filed under Stocks | Print This Post

Well the market was down today following Delphi Corp.’s bankruptcy filing and concerns over weakness in the auto industry. I believe broad fears and sector uneasiness will drag down solid companies related to the auto industry. Is there anyone up for the challenge to look for a few gems?

Here’s how we did on Columbus Day:

DJ Indu 10,238.76 -53.55
Nasdaq Comp 2,078.92 -11.43
S&P 500 1,187.33 -8.57

Tomorrow’s forecast:

5 day forecast – What I’m watching out for:

I expect the market to end up this week following positive earning reports. I expect oil to gradually rise. This week my top picks are LU, Lucent Technologies Inc. and NT, Nortel Networks Corp. I am continuing to watch CAL, Continental Airlines Inc. for a buy opportunity, I like the stock at under $10.

Add this post to your favorite social networking site