My previous posting from 3-8-10
With unemployment at 9.7%, unemployment benefits continuing for over 2 million people in question, consumer confidence at extremely low levels, and March 15th quickly approaching, I do not see the markets going higher. I see the DJIA falling back to 10,000 in the next few weeks. ( I was wrong for weeks, but the DJIA did fall below 10,000 since 3-8-10, and may very well be on its way again) If it does, I will be buying stocks, but am not buying aggressively at current market levels.
Historically, the worst period for investing in the stock market is between March 15th, and October 15th, which starts very soon. Last year, the markets rallied from the March 6th, lows, but during that time we were not sure if we would even have a stock market any more, relatively speaking.
Although earnings last quarter were good for corporate America, the economy needs Mr. & Mrs. America to be out spending money. Outside of the lines I saw at Home Depot this weekend, I don’t see many people out in restaurants or cars at the shopping malls. Even if the overall stock market is not going to go much higher at these levels, there is always stocks to buy. If the market pulls back, that is when you want to keep buying and waiting for the consumers to help corporate America push the economy forward, and the DJIA over 11,000.
During a period of time which the markets are trading sideways, one option to use for making money is Selling Covered Call Options. If you are not familiar with that strategy, ask your current financial advisor or some of you who are working with financial salespeople, ask them about Selling Covered Call Options. When they tell you they don’t know much about it or use those strategies, because they only know how to promote mutual funds, you should email or call me. I will be happy to educate you on this strategy.
If you would like me to review your portfolio, have me give you a second opinion on your investments or hire me to be your Financial Advisor/Portfolio Manager, please email me at JimWigen@GetWealthyStayWealthy.com. Continue to check my website for updates on stocks I am buying and selling for my clients.
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Jim has worked as a Portfolio Manager & Financial Advisor since 1996. In May 2005, Jim founded WHI Financial Services, LLC, WHIFinancial.com, a Registered Investment Advisory firm, with headquarters in Texas. His primary focus is on portfolio management, financial & retirement planning, and financial advisory & insurance services. Jim manages investment portfolios & advises individuals, small to mid-size companies, and non-profit organizations on a variety of financial and business issues.
Prior to founding WHI Financial Services, LLC, Jim worked as a portfolio manager & financial advisor for two international investment firms. From 2001 to 2005, Jim worked with Prudential Securities (merger with Wachovia Securities, now Wells Fargo Financial Advisors), and from 1996 to 2001, he was working with Merrill Lynch. While working with both Wachovia Securities and Merrill Lynch, Jim enjoyed dual responsibilities as a portfolio manager, financial advisor and leader of the Professional Development Program.
Jim's responsibilities as leader of the Professional Development Program included, recruiting, interviewing, training, and overseeing the daily operations of all financial advisors involved in the Professional Development Program. Jim was responsible for managing between 10-20 advisors, while still managing his own client investment accounts.
In addition to his experience in the financial services area, Jim has been involved in several start-up companies. Jim's Philanthropic work includes serving as President/Treasurer of a private foundation established to provide non-profit organizations financial assistance, and Chairman/President of the Believe In Your Dreams Foundation. In 2007, Jim established the Believe In Your Dreams Foundation, a 501(c)3 organization, to help individuals who are suffering from life-altering circumstances beyond their control.
Jim has taught investment, insurance, and credit repair classes through continuing education at universities in CA & TX since 1997. Jim attended the University of Minnesota where his focus was Management & Marketing.
Jim has recently written two books, one called "Your Financial Lifecycle" a book which describes several key investment topics everyone will face throughout their life, and a book titled, "The Truth about Your Credit Score", which defines how credit scores are calculated and how you can increase your credit score, including templates which you can use to send to creditors.
Jim's books can be purchased on Amazon.com, via Author search, or by emailing him directly at JimWigen@GetWealthyStayWealthy.com.
In the Fall of 2011, Jim will be starting his radio show called, The Jim Wigen Show, Teaching You to Get Wealthy & Stay Wealthy. You can hear his shows through streaming audio by visiting JimWigen.com.
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