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

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.

I am a long a very healthy number of stocks from when I had about half of that in mid-March. Since then a lot of stocks have setup in patterns that I purchase as bullish patterns. But the most unique thing about yesterday and today is that nothing is a full sell. Nothing. Every new long that I add and every long that I continue to hold is still a hold. Even if I was to give up a lot of gains (like I did last week on some stocks), I am still coming out ahead. And by not listening to all the “it is too expensive BS rhetoric” about VISN and SOL, I let the EPS/sales do the talking for me. This market sure isn’t that bad stocks like FSYS and QTWW prove that it is a stock pickers market and you just have to know where to be. If you don’t remember we also rode stocks like GRMN down for over a 50% gain. Too bad we couldn’t load up though as we did not have enough time.

But what really has me happy? I see that while I continue to have no sells, even with my charts losing that perfect max green look, there are still new buys, and the best part sentiment is just downright scary. People are so mad at the market and so full of HATE that I would say once a day I hear or read comments somewhere from someone involved in the market that SHOULD NEVER have been there in the first place.

Today the Investors Intelligence numbers showed the bulls COLLAPSING from a high 50% to 37%. That means, that little bit of selling at the 200 DMA, even though it did not destroy stocks, and stocks like NGAS are forming creating beautiful bases, that people believe the market is not healthy. On top of only 37% being bullish, 32% are bearish. While that is not a exaggerated bullish indicator, the fact the bulls and bears are so evenly matched yet I do have nice charts and volume is starting to come back in the Nasdaq is the reason I am happy.

I am going to list some charts I am not long that you can take the time to study on your own and do your own fundamental research as I am too tired to write anything else. Today’s chat room session was 18 hours of non-stop conversation, along with a Seeking Alpha comment fun-fest. Here is a list of some stocks that I got my eye on. Some of these have amazing fundamentals, and truthfully, some of these are going to be duds. But hopefully there is a gem or two in there for you.

Forum-only members, I will make sure some of the most important parts of Wednesday’s conversation gets posted so you can gain some vast knowledge. Keep an eye on these stocks: GTI RBCAA HMA AEHR CTIB APWR TSL DLTR SBAC PMCS RSOL LL NPD TGH GXDX PCX XSI AAP HIMX STST ATLS SATC LMNX CNQR GMCR MR TEL FSIN MDU SRCL JRJC UFPT SNHY NETL ULTI TRLG HXL SXE RICK HGT STST SIM TSYS DTSI EBSB V MXB CFX FUP UTEK DA RBCAA OFI AEHR ARBA ACS APWER GTI LDL NGT IBM SBAC LEI TITN RIM NTD TOWN SATC NGAS WGOV BABY IVAN AAWW ACM.

There are some repeats in there because I am taking the watchlist from the past three market sessions and showing you what I am watching. I only place stocks on the list that are up on the day and right now I do not have time to remove the duplicates. On top of that, those that are not making money or are losing money in this market, this is what you missed:

current longs and their total returns since purchase: CPE 48% XIDE 39% VISN 39% SOL 35% MTL 65% CLR 38% SDA 38% CPST 84% CMP 76% JST 42% QTWW 60% EBIX 176% PDO 146% CSIQ 33% GEOI 156% (MLHR 15%–it is a short; and I had 4 stocks move 50% or greater during our last bear market)

I get so many emails sent to my email box from people that want to know certain stocks to buy, I am telling you that it is worth what you are paying for. Some of the stories I hear from people THAT ARE NOT MY SUBSCRIBERS are HORRIBLE. If you would SERIOUSLY take the time to look and study the stocks that I purchase for one week, you would greatly increase yourself on becoming a much better investor. And if you can not afford to change your life for the better, we open up our site to the previous archives so that EVERYONE has a chance to learn WHY I BOUGHT or went SHORT a stock here or there.

And if you don’t use that feature, please study my past big winners. Some of you say some charts show you too much of the big picture. The point of that is to show you the whole run!!! How else am I going to fit a 1 1/2 year winner in one window pane? But seriously, if you can not tell me RIGHT NOW what USNA in 02, TASR in 03, FMDAY in 03, IST in 04, DSTI in 05, LMLP in 99, GNSS in 01, HRZ in 06, AFSI in 07, and DGLY of 08 all looked like before netting me some large gains, then you are still not ready to play Ab-ball. I don’t know how some of you are going to make it to “the show,” if you are not learning the basic fundamentals that will get you only to double-A ball. Triple A is still not within site for a lot and the majors isnt even a realistic possibility for some at all.

However, I have to admit recently in the platinum chat room the new active-investors who were once lost are learning extremely fast. I am VERY PROUD of all the newbies that have made it a very great past few months. We implemented a 30-day rule to keep trouble makers from causing trouble and at first it was working but everyone i so well behaved and everyone comes on at TOTAL different times (it is a global world now; welcome to 100 hour work weeks) that there is never any problems. So I just wanted to give a public shout out to everyone who is a platinum member. Since everyone can not be on at once, I want to let you all know here that some great stock ideas that are always winners are thrown around. Even ETFS. I have never been part of such a smart community and I am very happy so many of you can see through the “dumb surfing Maui island guy without a college degree). THANK YOU SO MUCH.

NOW, hopefully, the Nasdaq can keep working its way higher with more above average volume days and more and more stocks can setup and then BREAKOUT ensuring that we all will have a FANTASTIC 2008. We already, as you can see above, have some nice winners, but maybe, just maybe, we can get a few more perfect charts to setup and THEN HOLD (no thanks to you BKE, BRKR, or even DGLY) for some huge gains. It would be a miracle. And, yes, I do believe in miracles!

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