Market Update: ETF Ultra Pro shares SSO and TNA
I wanted to update my readers on my two recommended ETF Ultra Pro shares, SSO and TNA. Both are now up and profitable at this moment. SSO in pre-market is up to $23.93 and that would be 11% gain since I purchased the shares on January 21st. TNA in pre-market is up to $26.67 for a 14% gain since my purchase. I do not plan to sell at this times as it appears the markets are preparing for a rise.
At the end of last week I thought we were heading lower and said so in my post. It appears, even with the really bad news of layoffs on Monday, that the market was able to hold here. When I look at the charts for the Dow, S&P500 and the Nasdaq, these indexes held a very tight range and weathered the bad news better than certainly I had expected. This has set up a possible significant rally which many, including Art Cashin of UBS, have said on CNBC is possible from here. By holding both TNA and SSO you should benefit a more significant gain that what already has materialized.
A quick, cheap investment right now could be Ford Motor company, symbol F. The current price of Ford is $2.03/share. This stock could easily gain 10-15% and more on any significant market move. There has been 12 consecutive days of Distribution of Ford shares and we are due for a change.
Also, Apple, Inc., symbol AAPL, is up to $92.70 in pre-market and as you know I recommended these shares back on January 7th at $86.50/share and again after the Steve Jobs health scare at $78/share. If you bought the shares when I first did at $86.50, you have made a paper gain of 7% and if you purchased shares at $78/share you are almost 19% on paper. I will stay with this stock and will not sell these shares.
UPDATE: 7:30am PST
It looks as though there is a reason for the market's optimism. It is because there are stories out that the Obama Administration is considering taking the troubled assets off the books of the Banks and have "Good banks" and "Bad banks". This rumor has spurred the market rise and indicates Wall Streets approval of the idea. Additionally today it is expected that President Obama's much heralded Stimulus package will win House approval today. This all making for 4 days in a row of an up market.
At the end of last week I thought we were heading lower and said so in my post. It appears, even with the really bad news of layoffs on Monday, that the market was able to hold here. When I look at the charts for the Dow, S&P500 and the Nasdaq, these indexes held a very tight range and weathered the bad news better than certainly I had expected. This has set up a possible significant rally which many, including Art Cashin of UBS, have said on CNBC is possible from here. By holding both TNA and SSO you should benefit a more significant gain that what already has materialized.
A quick, cheap investment right now could be Ford Motor company, symbol F. The current price of Ford is $2.03/share. This stock could easily gain 10-15% and more on any significant market move. There has been 12 consecutive days of Distribution of Ford shares and we are due for a change.
Also, Apple, Inc., symbol AAPL, is up to $92.70 in pre-market and as you know I recommended these shares back on January 7th at $86.50/share and again after the Steve Jobs health scare at $78/share. If you bought the shares when I first did at $86.50, you have made a paper gain of 7% and if you purchased shares at $78/share you are almost 19% on paper. I will stay with this stock and will not sell these shares.
UPDATE: 7:30am PST
It looks as though there is a reason for the market's optimism. It is because there are stories out that the Obama Administration is considering taking the troubled assets off the books of the Banks and have "Good banks" and "Bad banks". This rumor has spurred the market rise and indicates Wall Streets approval of the idea. Additionally today it is expected that President Obama's much heralded Stimulus package will win House approval today. This all making for 4 days in a row of an up market.
Labels: AAPL, Apple Computer, Art Cashin, CNBC, Dow, ETF Ultra Pro shares, ETF's, Ford Motor, Nasdaq, SP500, SSO, TNA
posted by Charles Amico at 4:51 AM
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