Good Afternoon,
Stocks gave up most of their gains to end slightly higher Friday, extending a two-week rally that has slowed as the month wore on.
The Dow Jones industrial tacked on 13 points, but the Standard & Poor’s 500 Index edged up less than a point. Both indexes traded close to the breakeven level all day.
The market started out on an up note following surprisingly strong profit news late Thursday from technology leaders Oracle Corp. and Research in Motion Ltd., which makes BlackBerrys.
We had a real nice day in the markets today. Crucell NV (CRXL) was up a nifty 55% on news that Johnson & Johnson agree to buy them. We knew this was a very strong play, and putting ourselves in the right position often times pays off.
We also exited Momenta Pharmaceuticals (MNTA) after it hit our stop-loss. We are very unwilling to hold a stock if it goes against us right from the start. We took a 5% loss. We can live with that.
Our trading strategies are very simple. We root out stocks we feel have momentum and the ability to make moves in a short amount of time. If the trade goes against us, we are going to get out. It is just that simple. How many times have investors held, or worse yet, averaged down on a stock. The average investor cannot admit when they are wrong. At exactstockpicks, we have a system. Pride, greed, and fear don’t fall into the equation.
The stocks on our watch list today acted in an irrational manner. We decided to sit on the sidelines before the weekend. There will be plenty of opportunities again next week.
See you all on Monday morning!
TEN Exclusive: Market Wrap Up – 9/17/10 is an article from: 
