Bears Have A Tough Time Keeping Stocks Down As The Indexes Rally Late To Finish With Gains Across The Board

October 5, 2007

Today was a pretty boring day overall. However, it still was a good day for leading stocks and my portfolio as nothing in my holdings or in these indexes took any beatings. That helps confirm that today’s slow trading was nothing more than a breather and if breathers end up with the markets closing higher and off their lows then we know we have a lot more gains yet to come.

A lot of traders after the drop in the DJIA in the morning were pretty confident that a new round of profit taking was about to begin but once again the bears managed nothing more than a little pathetic slap in the face. The strong closes continue to tell bears and perma-bears like Doug Kass(trated) that they are still on the wrong side and will continue to be as long as this uptrend last.

Today’s slow activity was booked by market commentators as a pause before the monthly jobs report that comes out tomorrow. That makes sense to me but I always find using these excuses as to why or why not institutions went to work to be nothing more than a big pile of bull crap. The fact is that the big boys are taking a break right now from bidding their favorite stocks up any higher. Stocks can’t go up every day, you know. And another funny thing is….hasn’t trading been slower almost every day since the lows in August, after the Fed stop injecting liquidity in the market? So do say the market was quiet because of the jobs report just is something the usual talking fools at CNN and CNBC have to tell us to make us believe that something exciting is going to happen tomorrow. How else are they going to keep viewers with the bullshit that constantly comes from these two networks.

This market is still in a very solid uptrend and the long side is the right side. The recent longs that have been coming up in my scans that I am going long are such small positions because the market is already on fire and I stayed disciplined during the selloff and did not sell any stocks that were not selling off. That has caused to me to hold on to some stocks that are now becoming big winners like VDSI, OMTR, IHS, and MA. By following rules and not the bullshit out of the mouths of the morons like Doug Kass I have been able to produce 200% gains from each of these stocks. How are the perma-bears doing?

The fact that I am long so many GREAT PERFORMING and looking stocks is the clear tell how bullish this market is. When I am this fully invested so soon after a follow-through it is clear indication that this is a powerful market. Especially, since the new longs that have been coming up on the scans are CANSLIM quality longs. It is not like I have a bunch of sub-$5 crap moving. It is top stocks that are taking the lead and producing solid gains. And as for hot stocks like Chinese stocks and/or stocks like APPY–they are just killing it in the short term confirming the strength in this market. This is not the time to be short or looking for shorts.

There is not much else to talk about concerning today’s markets. I have pretty much gone over everything that you can possibly go over ad naseum since the beginning of this wonderful week for my portfolio and top stocks. About the only things I saw that I guess I should comment on today is that the two oscillators that are in Helene Meislers articles both show the NYSE and Nassy moving back from their overbought levels. That takes a bit of pressure off the fact that we could get a more severe pullback. Also the NYSE short-interest ratio hit yet ANOTHER all-time high of 8.81 days. Amazing, despite the markets hitting new highs. The only things that I saw that indicates complacency is settling in is that yesterday the amount of bulls climbed to 56% on the Investors intelligence survey and the put/call ratio fell to .64 after yesterday’s close. That is complacency.

On that note, me and my longs in my portfolio are going to call it a night and wish you well!! Aloha and I will see everyone in the new and improved chat room where the conversation is already right back on track!!!! Thank you everyone for being so accommodative during the move to our new permanent residence.

ALOHA!!!!!

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