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Let's take a look at the rulers of the Market Leading Technology Companies : Cisco, AOL, Microsoft:
Cisco started the week at 117 (all stock prices are approximated) and finished at 114. On Thursday, 4/29 it bottomed at 107. AOL started the week at 150 and finished at 143. On Thursday, 4/29 it sank to 135. Microsoft started the week at 87 and finished at 81. On Thursday it slipped to almost 80. All three corrected a considerable amount and there were buying oppotunities throughout the week, especially Wed. and Thur. It's likely there will be additional buying opportunities this week for these three Market Rulers.
For those of you who have visited THESTOCKS page on TechStockMania.com, you know both Amazon and EBAY were on the list of stocks that I want to own. We all had the opportunity to buy them this week and I did.
Amazon started the week at 210 and finished at 172. They announced their earnings on the eve of Wed 4/28 and on Thur 4/29 the stock opened at 173, where I placed a buy order the night before with a limit of 197. At 11:00 I checked the market for the first time. Amazon opened down $10. I was relieved that Charles Schwab (my trusty online money manager and also on my list) picked it up for me at 173, an 18% discount from the beginning of the week and a 22% off its weekly high of 221. Regarding their earnings, while they continue to still lose money, Amazon's revenue growth was astounding. Their strategy of dominating more and more marketplaces remains on track.
EBAY started the week at 211 and finished at 208. When I checked my portfolio on My Yahoo (great & easy internet based tool to track your stocks and the market) to see how Amazon was making out, I noticed EBAY was down hard again to 188 (Tues it opened at 223 and Wed it closed at 192) so I thought about it for about 30 seconds and put in a buy order with a limit of 190. I bought EBAY at 188 and it closed at 208 at the end of the week. I got lucky and pulled the trigger. For more info on EBAY go to THESTOCKS page on TechStockMania.com.
This week should present some buying opportunities as well, if you have Guts.
And for those who are nervous about their current portfolio of Market Leading Technology Stocks, have Patience and you will be rewarded long term.
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