MyDollar 5-stock Tech Invest: Week5

On Friday, May 19th, we purchased 5 technology stocks (read details) at the closing price of that week. We started with $10000 (about $2000 for each stock).

After 5 weeks, at the close of trading today we stand at $9448, down by 5.50% in 5 weeks and a drop of 0.47% from last week. This week turned out to be another bad week ahead of the Fed meeting, in which the central bank is widely expected to hike the short term interest rate to 5.25%. This is 3rd consecutive week of decline in our portfolio. We feel the market is showing too much of pessimism towards inflationary fear and possible hike in interest rate, even while the corporate profit picture stands at a good enough level. Right from the beginning we believe in long term investment and we are hopeful that our portfolio of 5 great technology stocks would come back to positive territory once this confusing state clears up and investors start believing in positive aspects of our economy.

We all know the basic rule of investing: 'Buy low and sell high' but it's always tough to find (unless you are God) where exactly those crests and troughs are in the path that time takes. So, it's important to identify potential stocks and to be there and invest with a longer time perspective and hope for the best. We are hopeful we'll rise above these short time fluctuations soon. That's the reason we started this portfolio on May 19th even though the general sentiment in Wall street was quite gloomy in that week.

Current Value of portfolio:
EMC Corporation (EMC) : 157 at $11.53 (was $12.73 on May 19)
Nasdaq-100 Trust (QQQQ): 51 at $38.15 (was $39.35 on May 19)
Seagate Technology (STX) : 80 at $20.99 (was $24.95 on May 19)
Veeco Instruments (VECO): 82 at $22.93 (was $24.26 on May 19)
Yahoo (YHOO) : 68 at $31.37 (was $29.53 on May 19)

Disclaimer: We own all these stocks in our personal portfolio. Please do not make your investment decision based on this selection. Please do your own homework and/or take expert advice before investing in these stocks.