The Iconoclastic Investor

To make better than average money in the stock market you have to do something different from the average investor. You have to be an iconoclast--thinking independently and finding the approaches that work for you, not blindly following someone else's program. In this blog I'm refining my own iconoclastic and eclectic ways of thinking. I'm not trying to convert anyone to my opinions or methods--I just hope to provide a useful perspective and inspire some other investors' thinking.

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Location: Albuquerque, New Mexico, United States

Wednesday, May 17, 2006

Going to the Sidelines

The overall market is too negative for me to try any of my bargain-hunting schemes. Maybe the market will have to get even more oversold. FuelCell Energy (FCEL) didn't hold support at $12 and is down sharply.

Another candidate for oversold status is Applied Materials (AMAT). They announced earnings yesterday, and the analysts are critical, driving the price down more than 4%, which is a significant move for this fairly non-volatile stock.

Posted at 11:30 a.m. Eastern time.

posted by Houyhnhnm | 8:31 AM

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