S&P 500 Nose-Dive Friday
The S&P 500 started this week with three up days in a row. It closed Monday at 1872.34 up 0.79%. It closed Tuesday at 1885.52 up 0.70%. And it closed Wednesday at 1890.90 up 0.29% from yesterday. With three up days in a row greed and emotions might say all in; however, last week StockPicksForProfit stated that this is not the time to be hard-line with new buys (see Small Jump Friday for details).
Thursday’s decline of 0.11% was completely overshadowed by the plummeting on Friday. The S&P 500 performed a nose-dive Friday on heavier volume; losing 23.68 points or 1.25%. It closed at 1865.09.
In contrast to the S&P 500 performance StockPicksForProfit portfolio gained 1.24% for the week and our mighty Top Stock of the week Oceaneering International Inc, symbol, OII gained 2.04%.
We will continue to picks stocks that can supplement your income. Keep in mind that this is not the time to go all in with stocks.