Very Bullish Week Ends With Us Set Up For Some Big Gains
May 31, 2008 | Leave a Comment
It was nice to see oil stop rising to the moon and for stocks to still continue higher as a constant rotation from commodity into higher quality tech stocks does seem to be evolving. In fact, it appears commodity stocks are going to continue higher with those new leaders that are starting to emerge. I can only pray that this trend of prettier charts and higher quality longs continues to show in the market.
There is no doubt when you see longs like HRS, PVA, FMC, COP, FST, JOYG, TUP, CRK, BUCY, and CLR move like they did today that we do not have some sort of speculative action in oil longs. Along with this action, you can see a lot of technology industries moving higher on the list of IBD industry groups. There is only one way to spin that: bullish.
The great thing that some commentators were actually complaining about being “nothing more than window dressing” was that volume did increase on the Nasdaq and on the NYSE with Friday’s strong gains. I am not sure how they can spin that as bearish but they tried and probably succeeded amongst the masses as the majority of people I talk to HONESTLY believe we are in a recession. YET when I ask them how they are doing it doesn’t seem to be at recession levels. So the facts remain that this is a much stronger market than anyone is giving credit for.
Commissions
May 30, 2008 | 5 Comments
If anyone is paying anything MORE than $5 per trade, you are being ripped off.
InteractiveBrokers
Tradestation
Tradeking
Just2Trade
MBTrading
Cybertrader
Zecco
If you are paying more than $5 per trade or .005 per share, NOT ONLY ARE YOU BEING RIPPED OFF BUT you should CONCENTRATE YOUR PORTFOLIO TO ONLY THE BEST OF THE BEST CANSLIM STOCKS. Over 100% of my trades are $5 or less. Stick with the high priced stocks. They do MUCH BETTER than the low cost JUNK. PER TRADE, PER SHARE, REAL TIME, AND DEEP DISCOUNT is the way to go in a free market!
Investor’s Business Daily Is The Greatest Investment Website On The Internet
May 30, 2008 | 5 Comments
Everyone should go to the IBD Learning Center and READ EVERYTHING in it this weekend. That way IN CASE this turns into a VERY BULLISH (a big up day over 1.5% with volume over the 50 day volume average by at least 20%) you will be completely ready.
f all of IBD’s 20 rules are carefully followed (not just the ones you like), your investment results should materially improve:
1. Consider buying stocks with each of the last three years’ earnings up 25%+, return on equity of 17%+ and recent earnings and sales accelerating.
2. Recent quarterly earnings and sales should be up 25% or more.
3. Avoid cheap stocks. Buy higher quality stocks selling $15 a share and higher.
Strong Market Has Many Amateur Investors Confused; There Are Way Too Many Bullish Charts For Us To Breakdown
May 29, 2008 | 2 Comments
Some people are making this way harder than it is when it comes to making money. I make it very clear when I am going very long and when I am only buying a few to a hundred shares of something. A newbie will not know this but anyone with at least a few months will know that. So when you see that there are so many longs tonight don’t get too excited thinking that this market is going to be super bullish.
It is what it is. A low volume rally. But this low volume rally is loaded with short sellers, via the NYSE short interest constantly hitting all-time highs now at 14.27. So as long as the short sellers jump in the market and people continue to deny the rally–bulls fell to 37% from 50% in this week’s investors intelligence poll.
I have heard some actually say “I thought we were in a correction.” Of course we were. We had a SIXTH DAY OF DISTRIBUTION IN TWO OR MORE OF THE MAJOR MARKET INDEXES I believe when 5/21’s selling hit the market. History has PROVEN that most markets come under pressure when this happens. However, THIS IS A LOW VOLUME MARKET AND ANYTHING UNDER THE 50 DMA MUST OBVIOUSLY BE TAKEN WITH CAUTION. EVEN THIS RALLY.
TONS Of Bullish Charts
May 29, 2008 | Leave a Comment
I don’t know what people are talking about. There is a LOT OF VERY BULLISH MONEY MAKING STOCKS OUT THERE!!!!! The good times will eventually end but some of you that have been so afraid of the “invisible bear” that you have now missed out on a 525% gain in MA since the August 2006 purchase. Or how about STSI the past three days. Or how about QTWW’s 70% gain in 12 days. Eventually, the market will top. But the market is not topping here. Some people need to realize a .9% rise in GDP is not a recession. LOL.
I know my portfolio doesn’t show a recession. In fact, if the past two months are an indication of the summer, which I hope it is, it is going to be a GOOD 2008–even with a PATHETIC 18 VIX.
I don’t have a lot of “perfect” charts out there. But I have a TON! of “near-perfect” charts. It is possible, once we have a FTD that the perfect charts will show up. But stocks like QTWW, ISYS, and STSI…sure does feel like a bull market. Is it a raging bull market? OF COURSE NOT. There is no volume but all the worries that I keep hearing out there….some people need to watch less TV.
I Know I Like What I See Out There: Investors Intelligence Survey, My Bullish Chart Patterns, The Bears Attitudes, And Much More!
May 29, 2008 | 1 Comment
First off I want to thank everyone who dealt with my major problems of heat that I was having due to my MS attacks. There is nothing I can do to control them. Luckily for me they are over and hopefully I can get back to normal. Along, with my chat room, which has been acting funny. Chatblazer is a funny program.
Anyways, after Wednesday’s market session, I must say that the potential fear that I had about possibly losing the nice charts have abated, for now. I did take some profits to lock in some stocks and not lose all gains on 5/21 just to play it safe in case the market was going to fail right at the 200 DMAs. Well the good news, so far, is that initial wall was hit, that was the end of the selling.
I am very happy that we did not see the intraday selling turn into something much worse today. The very bullish action in the indexes yesterday (with me having only ONE FULL SELL which was for a reason not related to the market action–TCN was a small position and the buyout obviously is not going to see a premium and the red BOP helped make the decision to sell the last 20% I was holding on to. It was STILL an 8% gain. So the arb play still worked.), combined with the very bullish action in the indexes today leads me to hope that this rally will hold.
It Just Got Too Busy; Extremely Dull Session Has Some Bullish Action Underneath
May 28, 2008 | 1 Comment
Weill this has to be quick as the chat room was too busy and I spent a LONG time writing up a nice piece that I would appreciate all members read that are subscribers to at least the silver level. The writeup on the long section will hopefully help some of you to understand why it is 100000x times better to learn to fish than to just take the fish fro free.
Now I am dead tired, just updated my orders, and still have to hit my forums. But what I can tell you here is that I had a few very nice stocks bounce off key averages or trendlines that could be very bullish on the short term to possibly the long term.
I also loved the fact that the put/call ratio stayed at .94 above the .90 level which signals that most are still wanting to place as many bearish bets as bullish bets. Take that with the NYSE short-interest at an astronomical 14.19 and you have a market that people love to hate.
PUBLIC APOLOGY FOR BEING LATE TO SUBSCRIBERS
May 27, 2008 | 1 Comment
FOR ALL THOSE SUBSCRIBING TO MY SERVICE BE AWARE I HAD AN EXTREME ATTACK OF HEAT (APPARENTLY A SYMPTOM OF MULTIPLE SCLEROSIS) TODAY. I COULD NOT DO ANYTHING ABOUT IT. NOW THAT IT IS NIGHT TIME, IT APPEARS TO HAVE GONE AWAY AND I WILL!!!!!! FINISH EVERYTHING BEFORE THE OPENING BELL, EVEN IF IT KILLS ME. I AM ALREADY ALMOST DONE SCANNING FOR NEW POSITIONS AND WILL!!!! HAVE EVERYTHING UPDATED BEFORE 7AM EST. I COULD NOT STOP WHAT HAPPENED TO ME TODAY AND ONCE AGAIN THE DOCTORS HERE HAVE NEVER HAD THAT CASE HAPPEN. SO WHAT CAN I DO? KEEP FIGHTING, I GUESS.
I APOLOGIZE FOR BEING LATE BUT I WILL HAVE THE FORUMS, NEW LONGS, NEW SHORTS, AND SMALL COMMENTARY UP TO DATE.
I ALSO POSTED A COLUMN ON SEEKING ALPHA REGARDING A STOCK I HAVE AN EYE ON.
What A Difference One Week Makes; Leading Stocks Signal That There May Be More Work To Do Before A Real Strong Rally Can Ever Take Hold
May 24, 2008 | 4 Comments
There is no doubt that I am suffering my WORST Multiple Sclerosis attack to date. Since Saturday I have basically been bed ridden and RIGHT OFF THE BAT I want to apologies if any of this is a little hard to follow because I feel like trash. I am not sure if this will effect what I am about to write but do me a favor and do NOT bust my balls if I misplace a word or misspell a word. My life is too short to deal with this.
I had a completely different approach in mind when I first wanted to write this but I figure I will stick with the facts. The facts are as quickly as this market looked like good times could be returning it in fact was possibly throwing us false “all clear” signal. Now while I never fully bought into this rally due to the volume, I still held hope that the rotation that I started to see into technology stocks would continue. Now I am beginning to wonder if that is what is happening or if they are making it appear that this was the case just to shut the door in our face.
At the end of last week things were looking very strong for the stock market, despite the low volume, as a lot of stocks that were in our portfolios were producing some large gains. But without ANY warning or clear reversal signal, the stocks started pulling back slowly getting rid of all the gains. The lucky part is that we did sell SOME as they pulled back since volume was higher. But the stocks pulling back on low volume and green BOP gave us no reason to sell. Since stocks that move up 20% in two weeks should always be held for at least eight-weeks it seemed stupid to sell anything pulling back. However, now it appears we should have taken more gains. This is the one time not taking profits quickly hurt us. The low volume was the tell and I should understand that next time as this is nto the first time I have witnessed this action.
HAPPY MEMORIAL DAY WEEKEND!!!!!!!!!!!
May 24, 2008 | Leave a Comment
Happy Memorial Day Weekend. The new commentary will be fully updated by Tuesday morning. I also expect to write a few columns for Seeking Alpha, iStockAnalyst, and StraightStocks for the upcoming week. So make sure you check those sites throughout the week for updated columns.
And for everyone that reads this that is either active-duty or fought for us before, know that I APPRECIATE EVERYTHING you did to make this a great country. The war on terror will be won and it will be won via the United States Military and not by the United States Congress. What the heck is wrong with the liberals/republican-liberals in Congress? Anyways, from the bottom of my heart, THANK YOU. I KNOW places like San FranFREAKO and Berkley exist because of great men and women in our military.
LONG: THE UNITED STATES MILITARY, FREEDOM OF SPEECH AND RELIGION, AND CAPITALISM
