A September rally is faltering on the stock market as worries return about Europe’s economy.
The Dow Jones industrial average and the S&P 500 Index both closed with slight losses, breaking a four-session winning streak. Stocks had been up slightly earlier in the day.
The weakness came after German investor confidence fell sharply and industrial production stagnated in the countries that use the Euro.
According to preliminary calculations, the Dow fell 17, or 0.2 percent, to close at 10,526 and the S&P 500 lost 0.8 point, or 0.1 percent, to end at 1,121.
Even with the down day in the overall markets our portfolio continues to roll along. In fact all of our stocks had positive gains!! Leading the way once again was Meru Networks (MERU) up better than 5% on today’s session with an incredible gain of 18% since our entry last week! We don’t know exactly what is driving this so hard but we are going to ride it until it stops. We are going to move up our stop-loss order though to ensure a nice gain. We are moving up our stop-loss order from $13.90 to $17.00.
Momenta Pharmaceuticals Inc (MNTA) was a new entry for us today. This stock has been creeping up lately and looks to be in for a big move as soon as we can get some volume.
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