Well the market turned around and swung upwards. I only did 2 out of 5, horrible. Although I did predict the 2 downs in an up market, pretty interesting.
From yesterday:
- CCJ: $27.85 Down, actual: $27.68 Down
- CI: $28.31 Down, actual: $29.04 Up
- CVG: $10.09 Down, actual: $10.43 Up
- UNH: $25.34 Down, actual: $25.80 Up
- WFR: $17.29 Down, actual: $16.75 Down
So what could I learn? Poring over my analysis from previous post, I noticed a common pattern that explains why the 3 stocks in the middle went up. It's something called Contrarian Investment Theory.
Essentially CI, CVG and UNH these stocks had pretty much all indicators extremely bearish (over 98% bearish), playing very well into the Contrarian Investment Theory. I'll take note of this one for the future.
Another problem, both CI & UNH are in the same health care sector, so they swing together. Next time, I'll try to bucket them together to reflect the shared risk.
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