Friday, May 18, 2012

Markets Down for Week

imageFor the week, Dow down 3.5%, SP500 down 4.3%, and the Nasdaq down 5.3%.  $$

The Facebook IPO was pretty lackluster, although it dominated the news all day long.  There was a delay starting trading, the NASDAQ had some problems filling orders or at least reporting on orders, and the stock fluctuated between $38-43 during the day.

I tried playing it for plus/minus $2, and hit the minus $2 pretty quick and bailed.  No sense holding and hoping. This thing could fall a ways once trading normalizes, especially the way the market is trending.

Sell in May working again.  Glad to be mostly in cash.

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