Thursday, June 26th, 2008 Recap

Today was a crummy day in the market. The DOW was down 358 points closing at 11,453. There was just a lot of bad news for traders to sell on. We had the RIMM and Oracle news from yesterday and then Oil was way up as well. It also didn't help that Goldman Sachs downgraded both Citigroup and General Motors to a sell rating. June has now officially become the worst month for the stock market since the great depression. My portfolio again outperformed the DOW as it was down just short of 2% and the DOW was down a little more than 3%. However, this is little consolation. I never like to lose money, but 2% of your portfolio in one day is especially tough to swallow. The two biggest losers in my portfolio were GE and Apple which were both down more than 5%. I had only two winners, Teva Pharmaceuticals and the US Oil Fund (USO).