Thursday, May 11, 2006

A Sea of Red

All the major indices were down over 1% or more for the day. It was just a wave of selling after selling. Some of the decline has to do with surging commodities as gold continued to soar (it's now $725 an ounce!) as well as copper. I read a joke somewhere (hey who knows, it might be true) that the pennies made before 1980 are now worth 2 cents!

Oil also reached $73 a barrel, but I've noticed a drop in gas prices around here. It will be interesting to see the sales figures for hybrid cars. I read that Lexus came out with a hybrid suv (I think) and it's only about $2000 more than the normal version. This seems like a good deal because you will save at least a few hundred dollars per year on gas and you might get some other breaks depending on where you live. Some of the perks I've seen before is that you can drive in car pool lanes even if it's one person (saves time, time = money) and some cities were offering free parking in certain lots. I'm still waiting for that Honda fuel-cel car. I think a few years ago they built the first one and gave it to a family to test, but that's the last I've heard of it.

My portfolio actually finished up today (and beat the S&P by 1.5%) all because of Jones Soda. It finished the day up 10.68% on really heavy volume- around four times the 3 month average. Generally when a stock shows that much gains on that heavy a volume, this is a great sign. If the volume doesn't pick up tomorrow, I would expect a drop though like CUP did today (down 6%).

2 comments:

Anonymous said...

hello. How is your recent new job going?

Alpha said...

My new job is excellent. I actually found a combination of a place where I'm learning something new all the time and working with fantastic people. I look forward to going to work, but I still hate getting up early!