Video interview and update on the current State of the Markets, as well as the overall State of the Economy with Daryl Montgomery of the NY Investing Meetup (interviewed by Alexander Morris of moMoneyTV and PassMeThePork.com).Â Watch NOW to learn if there are any opportunities currently offered by the markets.Â We have the answers for what’s on everyone’s mind, “Is there any room in the stock market for it to PASS ME THE PORK??!”
Here are some additional highlights from Daryl’s blog post that I mention in the video:
“Last week Alcoa (AA) offered a perfect example of the bull market reaction to news. Earnings were not just bad as everyone thought they would be, but were even worse than expected by 3 to 5 cents (depending on which analyst survey you looked at). The stock actually opened up the next morning and then settled down for a small loss on the day. I had sold out my position (purchased off the bottom) in anticipation the earnings would be worse than expected. However, since the market obviously didn’t care about that, I bought the stock right back the next day (at the market, I don’t take the risk of not getting a good bargain by setting limit orders). Alcoa then had a big rally on Thursday. When a stock goes up like this on bad news, it indicates all the bad news has already been priced in. When that happens the price can only go up. You didn’t read about that in the mainstream press however. All you saw was negative coverage of how poor the aluminum business was last quarter even though the market couldn’t care less what happened last quarter.
People don’t make money in the stock market because they focus on the irrelevant – and the mainstream media is more than willing to help you do this. Pay attention to what the market is actually doing if you goal is to make money investing. Then you need to take action. If a consumer goes shopping and sees an incredible bargain at 90% off, they don’t usually say I’ll come back next week to see if its 95% off or I’ll come back and get it in a couple of hours when I’m done with my shopping (lots of luck that it will still be there). People do this with stocks all the time though and this is one of the major reasons the average person has trouble making money investing.”
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