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Another Quiet Day Of Consolidating The Gains; Lower Volume After A Day Of Solid Gains Is What I Like To See!

April 21, 2008 | Leave a Comment

It was another great day overall for those that are long the stocks we are long (well at least until AH when one got a gnarly ride) as the market took its time drifting around today before a strong close that saw the market basically end where it started. That is except for the SP 600 which fell .7% and the IBD 100, which is loaded full of leading stocks with great fundamentals and strong price action, which rose 1.2%. The 1.2% gain by leading stocks is very impressive during a day where the indexes basically closed flat to slightly lower. This is yet another clear sing that despite the lack of any volume out there, shorting a dull market is not a very smart idea.

Some of the bullish data points on today’s session includes the new highs which once again beat the new lows. This time it was 164 to 97. Not a killing but still good enough. As long as I continue to see new highs beating new lows on this list I will continue to enjoy the uptrend even if it continues on with small volume. The put/call also rose today to .81 from .77, despite the IBD 100’s 1.2% rally. This has to be taken as a slightly bullish development considering that more people bought puts (meaning they became more bearish) despite the market rallying. This is probably because those put buyers were more focused on the SP 500 and SP 600. Too bad they were, some stocks that we are long like WSCI are showing why that is such a bad idea

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David Flores

April 21, 2008 | Leave a Comment

Josh,

Just wanted to give you a long overdue hello and thank you.

Several years ago I started trading stocks because I had some cash burning a hole in my pocket. One of my first picks was VLO when it was about a $12 stock. Needeless to say I was hooked. I had no real style of trading, just did some basic reading and research then crossed my fingers. I never did great but did make some nice gains in the energy sector. Anyways somehow I managed to stuble on to your site about 3-4 years ago. I didn’t follow any of your trades right off the bat but did enjoy reading your blog. After several months, almost a years I realized you weren’t some “pump and dump” guy (it took so long because I played with penny stocks and got burned) so finally I started trading your picks. I made several thousand dollars because of
your picks, Thank You.

I still enjoy reading your market comments daily but I no longer trade otherwise I would without a doubt subscibe to your service. A couple of years ago I sold all my stocks to finance an engagement ring and a wedding, with no regrets.

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Priorities In Life:

April 21, 2008 | Leave a Comment

1. Family
2. Surfing
3. Surfing
4. Surfing
5. Going long stocks breaking out to new highs, bouncing off the 50 DMA, from a nice five weeks to seven weeks flat base, cup with handle pattern, double bottom pattern, or saucer pattern with max green BOP the past three to six months, with huge accumulation on the uptrends and extremely quiet volume on the breakouts, when the general market is in an overall uptrend.
6. Surfing
7. Surfing
8. Surfing
9. Surfing
10. Surfing

I hope you all understand how important making money is to me. I would rather be surfing. God bless the United States of America for giving me this wonderful life where if I wanted to I only have to work 2 hours a day 5 days a week 10 hours a week, surf the rest of the time, and make a TON of money. Capitalism is the greatest thing ever!! God bless Capitalism as it is THE ONLY way to take someone who was DIRT POOR like me and help them become wealthy in heart, mind, spirit, and body. This is why I love the stock market and trading stocks but do not love money. Money can never create this kind of happiness. It has to come from something deeper within and around you.

Surfing is my money!

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A Bullish Week Comes To A Close As Leading Stocks Lead The Market Higher; Volume Was Finally Over The 50 Day Volume Average On Friday, On The Nasdaq

April 19, 2008 | Leave a Comment

Friday turned out to be one of the best days without a doubt for the stock market in 2008 as the Nassy led the way with a 2.6% gain. Why Friday? Because this rally came not only on heavier volume but came after the indexes have already had a few up days. This is a confirmation of the follow-through day as volume was sharply higher on both indexes by 20%. Not only did the gains come on higher volume but leading stocks took charge once again as many leading stocks continued to setup in what are now nice looking bases–just a week ago they were not nearly as nice (this is why it is important to ALWAYS follow the market). That is what two very strong accumulation days will do when they are within three days. There are also plenty breaking out to new highs on strong volume and the fact that they are in so many broad sectors is bullish.

Too bad the broad sectors are all commodity related stocks but heck since they are all moving higher that is your tell that the rally is back on. The Nasdaq, NYSE, DJIA, SP 600, SP 500, and IBD indexes are now in short-term and sub-intermediate term uptrends. That means that it is time to start looking to get aggressive with longs. Especially with a lot of technology stocks showing up. They may not be leading but at least they are coming along with the recent gains. This is something that has not happened since the November selloff started. This is very good news.

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Not Only Have Our Longs Outperformed The Overall Market The Past Month I Can Now See A Lot More Bases Being Built

April 19, 2008 | Leave a Comment

This means that if these bases all complete their right side, we are going to have a powerful market rally with or without volume. I am stunned by how many nice charts there are now AFTER JUST ONE bullish week where leading stocks outperformed the rest. The only bad news is besides the stock that we went heavily long two days ago that is now up 21.5%, there is nothing out there that has that perfect tight bullish price action where the price is bouncing off the 50 DMA and breaking out in a base longer than three weeks, that comes with extremely huge volume on the up days and extremely quiet volume on the pullbacks, and has a lot of green BOP showing all over the chart with max green BOP at least the last five days. There are a TON of high quality CANSLIM stocks that are setting up and breaking out of great bases, however, and when I can’t find my PERFECT charts, there is only one type of stocks to load up in. That is the CANSLIM quality. That is why MTL and TITN are very large positions yet neither one look like any of my ‘past big winners.’

I asked O’Neil which he would pick: a perfect chart in a stock with 70 EPS and 95 RS or a well-formed chat that is a bit wild, has some distribution, and other flaws but had a 99 EPS and 80 RS. His response was that you go with the stock with extremely strong fundamentals yet flawed chart. That is why TITN was a large buy yet has nothing but red BOP for the month of April.

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Here Are Just A Few Of The Hundreds Of America’s Remarkable Opporturnities Most Investors Missed:

April 19, 2008 | Leave a Comment

GOOGLE increased 560% in 39 months
_____________________________________
RESEARCH IN MOTION (Blackberry) +1,600% in 46 months
____________________
APPLE +1,580% in 46 months
______________________________________
FIRST SOLAR +840% in 11 months
______________________________________
HANSEN NATURAL +1,320% in 20 months
______________________________________
STARBUCKS +200% in 34 months
______________________________________
PRICELINE.COM +2,530% in 16 months
______________________________________
AOL.COM +2,340% from 1997 to 1999
______________________________________
YAHOO.COM +5,400% in from 1997 to 1999
______________________________________
eBAY +790% from 1998 to 1999
______________________________________
SCHWAB +10,000% from 1990 to 2000
______________________________________
CISCO +80,000% from 1990 to 2000

Rules Based On Historical Precedent Work; Only A FOOL Would Argue With These Facts

April 19, 2008 | Leave a Comment

1. The independent American Association of Individual Investors monitored in real time the result of applying our rules for selecting stocks every month from 1998 through 2007. They reported that performance was the best among well-known growth strategies they analyzed. IBD’s CAN SLIM investing gain was 1,522% versus 55% for the S&P 500 during the same period.

2. William O’Neil + Company, our sister company, provided weekly a Leaders and Laggards service since 1977 to many top institutional money managers. It averaged 24% per year over the last 30 years using historically proven facts versus 9.6% per year for the S&P 500.

3. Four of the top five fund managers in 2007 took this service and have been William O’Neil + Company customers for years.

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More on this topic (What's this?)

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Read more on S&P 500 at Wikinvest

Posted by Joshua Hayes | Filed Under Market Commentary 

Recent Longs Are Outperforming The Market

April 18, 2008 | Leave a Comment

Once again, another new long is up over 10% in one day that I told everyone to not be shy with. We now have multiple longs outperforming the market, and even though volume is still below average, it is clear that leading stocks are doing much better than the “values” the bottom-calling crowd have been advocating. This is definitely a fun rally. Enjoy it while we can!

Enjoy the weekend!!! Enjoy the gains!!!! SURF IS POUNDING AND I AM GOING TO HAVE A GREAT AND FUN DAY!!!!! Aloha! I will have full commentary up by Sunday morning. ALOOOOOHA!!!!

Posted by Joshua Hayes | Filed Under Market Commentary 

Huge Surf! And A Public Annoucement To All PSYCHOTIC People Like Sandy Wright

April 18, 2008 | Leave a Comment

Enjoy the stock market! I will be getting SHACKED!!!!!

The Christmas Island buoy continues to pick up lots of action passing underneath ranging from 7-9 feet 16 seconds. These two swells were produced a week ago straight south of Hawai`i following a northeasterly dip in the jetstream. The first swell is currently fading on our south shores. The second gale was much more powerful and a captured fetch was aimed nicely toward our islands. Tahiti has been seeing some beautiful surf from this episode already. This energy should reach our shores around noon into this afternoon, rapidly rising into the evening, peaking Friday near double-overhead heights.

I love my life. You must hate yours Sandy Wright. This EVIL women continues to send me emails. If any of you know this piece of human trash, slap her in the face for me. She is a HATEFUL person who continuosly sends me emails. Do you have a thing for me Sandy? If not, STOP READING ME AND STOP SENDING HATE–FILLED EMAILS TO ME. What a crazy person!!! Enjoy your sad and pathetic existence while I have the time of my life today. Nasty women, STOP READING ME AND SENDING ME HATE-FILLED EMAILS.

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Posted by Joshua Hayes | Filed Under Market Commentary 

Jan and Feb Archives Released at BWT.com

April 18, 2008 | Leave a Comment

Hey everyone,

Just wanted to let everyone know that I have released the longs and shorts archives at BigWaveTrading.com for February and January so if you are considering signing up for a package go check them out and see the consistent quality you get on the BigWaveTrading Premium site.

Check it out and sign up today,

DeMerchant

Posted by DeMerchant | Filed Under Announcements 

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