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As we head into another week of trading, I wanted to share with you another painting of an artist I enjoy, Mark Rothko. There is something simple yet elegant about his paintings. Seriously. When we are thinking about profits, cash flow, momentum, or federal reserve rates of interest, it is nice to come back to a simpler world of color size and proportion. Wishing all of you a wonderful week!
Monday, 29 November 2004 - 8:07 AM CST
Name: Patrick McMichaelIt is nice to see the contrast between the paintings and the hysteria surrounding the market. I think the painting sums up what we really should be focusing on in life, although I do admit that money is hard to ignore. You posted on my blog at purestock.blogspot.com. Much appreciated. I just started it but I have never seen anyone post to my blog before. You asked my some good questions dealing with my trading philosophy. I am not the most experienced trader and I am learning something new everyday. I decided to finally buy Apple because the I was tired of missing out on my favorite company. They have so much potential and the media is FINALLY giving it some credit. In the past Apple has had too much skepticism to maintain a solid stock, but now they control a lot of the digital music market which is too hard to ignore. Emotions aside (as always in the market), I belive Apple still has a lot to prove and they will do so with the market behind them. This is the main reason I decided to buy Apple in the first place. Selling will be difficult. Im sure as time moves on they will continually grow and amaze the bears out there, but I do have cut off point. I am not a large investor because I am in collage still, so the point of owning Apple is to capitalize on its current momentum. To be specific, if it hits 85 and there is still momentum I will keep, if not I will sell and profit take. This is how I currently trade most stocks. I look for news which will carry the stock and fundamentals which will support and justify its price. I did that with AMD as well. The next stocks I pick will follow suit, altough I wish I had more capital because there are so many other stocks I want as of this moment. When the time comes for me to buy again, I will be reading and researching using stock screeners to try and spot the next wave. Although I trade emotionless to any stock (including Apple), I know others do not, and I try to capitalize on those trends. Thanks for posting on my site and hope to hear from you again. Have a good one.
Monday, 29 November 2004 - 12:43 PM CST
Name: Bob
Patrick,
Thanks for your comments. I am not much of an art afficianado, but the Rothko prints are very pleasing to the eye!
Good-luck with your Apple stock! I am a big fan of Apple and personally have an iPod and a G5 that I recently acquired. As far as the stock goes, I cannot tell which direction it will be moving, but it has appreciated nicely recently and I have noticed that there have been a lot of upgrades on the company by prominent brokerage houses!
Hang in there with your college education. Educating yourself is what it is all about. Stocks are secondary to that but it is good that you have an interest in this at your point in life!