Not sure why I should even post. I figured after all that writing Friday, I would have gotten at least one comment. You would think my track record and loud mouth would have gotten some attention by now. Oh well. I guess one day someone will wake up and take notice. Until then I will keep writing. But if people don't start offering comments I am going to just post my longs and shorts and how they perform. This makes a good online diary but I already was making one at home for the past 3 years.
If you guys know anyone who outperforms me, let me know. Maybe I am not doing a good enough job. Or if you have suggestions as to how I can possibly get more eyes on my blog, let me know.
Thank You Very Much.
The stock market keeps on moving higher without stopping to take a rest. All indexes rose across the board, though it did come on lower volume - IBD100 1.6% SP600 1% SP400 .9% Nasdaq .7% and NYSE .5% which also made All-time highs. The late move in the final hours of trading today did have volume expanding as it moved higher which gives consolation to the fact that volume was lower than Friday. Friday was also an expiration day that normally always follows with a lower volume Monday. No matter if we go up or down. The fact that volume expanded on the upside as we rallied intraday, along with the ABUNDANCE of charts making strong moves today in my portfolio, shows how strong this market is right now.
The next couple of days is going to get quite boring. I doubt there will be much price movement in the indexes and with the lack of volume there probably will not be a lot of action in a lot of stocks. However, I am sure some fund favorites will get a nice markup in this low volume environment. This is the time of year when people get that "happy" feeling.
One day this market will stop going up and we will have to sell en mass, instead of taking profits on the way up. Until then the Christmas/Hanukkah party has started early and so far this party is rocking!
Interesting Fact of Night: SP600 is up 61% since the March 2000 top!!! As Gary B. Smith said, when referring to the Russell 2000 all-time highs, "what bear market?"
New Swing Longs: TIII STMP PTC ASVI GME.B ALY MMUS SCHN PAAS ALXN GG KGC NXTP ORA
Longs Outperforming Market: NDAQ-285% BMD-265% DESC-178% GMXR-105% WIRE-68% SPNC-63% ACR-61% CMTL-57% ANAD-56% CBG-48% SMTS-43% MNG-42% HITK-41% BNT-40% CNVR-40% UHAL-40% CMED-38% OXPS-36% GES-34% NWRE-34% LMIA-32% EAGL-31% CRDN-29% TRAD-27% CNET-25% PEIX RADS CKCM CWTR RWC SXC WOOF TESOF MRGE HOM MRB AUY SVA TOMO IT CLZR SBAC CDE TFSM NXG GRS TNOX CHRD Q DEZ MU SILCF ICTG CALP
New Swing Shorts: NONE
Shorts Outperforming Market: ARM SYMC
Stocks On Radar Screen: GROW JMBI ARBA EMBT VISG SIFY FUR OCPI
23 comments:
Write, I love reading this!!!
GME.B, what are you putting the buy order in at?
BTW, thank you about CMTL, it jumped 10% today!!!
Hey man, keep up the good work. I am definitely reading your stuff and recommending it to other people to check out. I think you have kirkreport beat, which isn't a small compliment in my mind.
Troy Peterson
Read you every night without fail.
Also trading your recommendations successfully. Would like to know your email address for specific questions from time to time.
Dave in Denver
I agree with your bullish take on the market. It's a good time to be long. But I also believe that that winter weather will come in to effect and worry the market with natural gas prices businesses/consumers will be paying for heating. This is going to make for some opportunities to play the subsequent profit taking dips & bounce backs. The OIH was up strong today (nearing 52 week highs). I've seen conflicting long range weather reports for the U.S., but they are predicting a harsh winter in the U.K. What's bad for London worries others here across the Atlantic. But for now, I'm long & strong.
Some of your recent longs are familiar to me. I will definitely bookmark your site and try and read it each night. I'll also start doing some research on your past positions.
braddah,
This is my first stop every day after trading. You are appreciated. Don't think otherwise. If I ever get to Maui, I gonna buy you one big dinner at Roy's Kahana for all da ono picks.
aka Mark12
Josh
Keep up the good work. I read you everyday before IBD and TCNet. Follow your trades, make money and learn how to fish on my own. Your scans are the most powerful I have seen and the only ones that produce results. Would like more lessons on money management and stop-loss principles. Next lesson to me should be "How to protect your profits without being stopped out prematurely". Also are very appreciated lessons on how much to put on each trade; fix number of shares, fix dollar amount, fix percentage of capital, fix amount of risk etc. etc.
In conclusion as you write I learn.
Regards
I found out about your blog from IRC.
Very impressive and because of you and your blog I have been learning heaps. Keep up the good work! I want to see writing!! =)
Liraz
I learned of your blog from the IBD forums about four months ago and have been learning from you ever since. I have a much better and deeper watch list since reading your blog, which obviously helps in trading. So I do thank you for your hard work and I hope you continue to share your experience and wisdom in the market.
Any thoughts on INFA? It's been basing here for a while, and has support at the 50, including yesterday when it reversed back up. I bought it a few weeks ago when it looked like it was breaking out and have been stuck holding it since. Thanks again for your hard work.
Tell me it ain't so.
I've got you bookmarked in investment:favorites right after IBD and right before my Brown co online account, so your commentary is instrumental in my decision making process.
I've got the process of buying and even cutting my losses short. If you have the time, can you expound on letting your winners run without getting shaken out?
I'm with Mark 12. With all the money I've made from your commentary, I'll buy you dinner if I ever get to Hawaii.
aka PN
Wow.
Thank you very much, everyone. I guess that means I will keep on writing. Maybe one day I will figure out how to make some money off of my writing, but until then I will keep on posting in my online journal.
Also, there is some good ideas in these comments that I will take into consideration. after the bell, I will also answer all individual stock questions.
During Thanksgiving, I will post how I trade, how I manage positions, % of accounts in positions, how I weigh IBD versus speculative stocks, and what I use to trade.
Great. I am happy to know people are reading this! That is all I wanted to know. I wasn't sure.
Many mahalos to all of you for your encouraging words. With all the places to go to get financial advice, I am very happy to know I am helping people learn how to empower themselves.
btw, I do have a primary chatroom in www.mirc.com on the Othernet network. It is called #stockmarket. I normally dont post during market hours, because I dont like to be distracted. But after-hours I am willing to answer any question about anything. My handle is StraightFlush
And it isnt what you think during market hours, when I don't post. Im not sleeping, I swear. LOL. I normally dont watch stocks intraday so I try to avoid chatrooms (even though I monitor 15) intraday. I would rather being surfing, or if there is no waves play poker.
Knight Aloha,
After reading your blog and your letter to TC2005, I have discontinued IBD for good since you provide *fantastic* commentary and list of stocks in one place. After my scans, I read your blog every night to compare my list with yours.
I honestly feel you are much better than the so-called market toutters who appear regularly on TV and write syndicated columns. I also feel you can start a paid subscription service if you contact TSC or Trading Markets.
This is what you should do:
* I feel lot of people are hitting your blog but not leaving any comments because there is nothing to dispute your commentary since it on the money. To track the number of visitors, check with the blogger whether you can add a counter. I feel it should be very high number. Based on that you can make some money by going to advertisers, if you want to. I am not joking.
* To get attentions from your readers, if you answer questions during the day that will be great.
* If you could throw a chart or two and show your analysis that will be awesome.
Thanks a lot for your *free* service. But when you do become one of the big hedgies, don't forget your blog.
-Bala
GME.B is like all other stocks. Place a market at open order for half, if you like. Then, place a limit order right at the pivot point of the base it has most recently broken out of. That ensures you that you will at least get a piece of it if it explodes to upside.
However, GME.B is not a favorite already as its brother GME (same stock) broke down on heavy volume. This did reverse but I am watching it closely now.
There is just too many really green and close to perfect charts to have to settle for a mediocre one.
But, lol, once again the fundamentals are great and I am sure a pullback shouldnt kill this stock. I mean come on, have you seen the XBOX?
It is awesome. And PS3 only going to be better.
You are also welcome about CMTL. I love everything about that stock right now. Fundamentals and chart.
Thank you Troy, for recommending it to other people. I really do appreciate it. I love knowing that I am at least a little entertaining and help people make some cash on the side.
I am very happy to know that I am outperforming the Kirkreport. That is very cool.
I will be setting up an email account soon so that people can email me to let me know if they want to be on a list that I will send out, after I update my blog.
It will be a simple email that will say "blog is updated."
I will set that up in the next two days.
I do think a 5% goal is too lofty, for the simple reason that if you dont make that goal you could possibly mentally beat yourself up.
If you are just starting, expecting to make that kind of money is a bit unreasonable. Can a doctor become a doctor is one day? A judge, lawyer, or US General? It takes time to be able to annually average 5% monthly.
Until then take the experience and see if you love trading stocks. If you do, you will make money. But beforet hat happens mistakes have to happen.
My blog can help you go on the right path, as my methodology is based on facts. This system has tested the greatest stocks every year going back to 1880. They do the same thing everytime, without fail. Fundamentals and chart patterns are always the same. A different variety of the same patterns but the same none the less.
I do agree with you about the winter natty gas shortage. However, the worry is good for the market to climb that proverbial "wall of worry."
Also looking at charts of oil and nat gas it is obvious it put in a long term top. The individual stocks in the group are making 4th stage bases and some like XOM are making bad bases below the lows of the last base. Remember, fundamentals are always good at the top. Now the only companies that will prosper are the companies searching for oil and building new refineries. If they arent doing that they have topped.
But my eyes are always open to possibility of harsh cold weather hurting stocks. But with this economy, I dont think we have nothing to worry about. Let the haters do that for you.
Mark, you rock. Thank you so much.
I look forward to it!
Keep up the great work you do in #AT. Give them hell!
Luca and Bala, I am very happy to know you two are still reading. Your comments are excellent and have given me many great ideas.
I will use all ideas to do future lessons on the blog that can be referenced to later by using the blog search engine.
Luca I am exstatic to know you are doing this on your own. I love that YOU are doing it and not copying me. I dont like that.
Bala, yes, I agree, I should add some charts. I will start posting the best of the best.
This is of course if I have time. Since it is free, I will do my best. But when I see a chart I love I will show it. It will not mean BUY it but show you what I look for.
You two are great friends to have. I am glad you guys are around. You help motivate me and that is priceless.
Thank you Liraz. You are the next generation of great leaders that know how to empower themselves financially, mentally, and physically. By the time you get in the military your conifidence should be in the stratosphere.
Aloha mate.
Aussie, aussie, aussie, oi, oi, oi
Congrats to Australia for making it to the World Cup.
INFA: INFA was a buy on June 28. Go check logs. Since then it has been doing wonderful, until mid October. In mid-October it gapped below 50dma-that was an automatic sell 1/2 for me. But since it closed in upper range and I had a nice profit I am still holding the rest. However, today was bad, but once again it finished in upper half of range. With the high volume that is support. So I am still comfortable with it. However, further weakness is a reason to sell another 1/4. Then I will manage remeaining position. For now it is up 32%
You said, also, that you are "stuck" with it. That is a no-no. If you bought a stock and it didnt act the way you wanted it to and now you feel "stuck" with it. You have to sell it or mentally get out of that trap of thinking you are stuck with it. If you are not happy with a position why keep holding it?
Hello there. Just found your site. From now on I will read your post and check your picks. Thanks for awesome work
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