FROM THURSDAY FOR FRIDAY'S MARKET; THIS WEEKEND WILL BE POSTED HERE ON SUNDAY:
I GOT EVERYTHING DONE THAT I DO EVERY NIGHT TONIGHT, DESPITE THE PROBLEMS WE ENCOUNTERED TODAY. SUBSCRIBERS YOU WILL FIND EVERYTHING IN THE FORUMS AND WEBSITE IS COMPLETELY UPDATED, INCLUDING BOTH VERY IMPORTANT DAILY VIDEOS.
Today's market session was a great day overall for the indexes as stocks gained from 1.5% to 2% today on higher volume than the day before and with volume above the 50 day volume average. Now before we can get too excited we have to check out leading stocks and see if there are any "hot" stocks setting up.
Well, surprisingly, I do see some CANSLIM stocks rounding out possible bottoms and bear market leaders like Gold, Medical, Biotech, Education Stocks, Commercial services-security, Software-medical, and some select Utility stocks. While it is nice to see some leadership in industries with stocks moving higher allowing some to setup in bases, it would be much nicer if high tech stocks that dealt with nano dust, artificial intelligence, microchips, new weapon technology, and green technology would be leading as they are the "innovative" fields. But I guess with Stemcell stocks moving we do have some speculative action and that is always a good thing for stocks.
Another good thing is after having a beyond DRY IPO period after September with only one stock coming out (LOPE) we finally have some stocks priced and ready to go on the market. About five stocks with one security stock is ready to finally play along. The fact that some companies are coming to market and that the banks are letting them indicate they must see some sort of future financial rally. OR POSSIBLY, just like in 2000!!!, they are trying to ditch the best of the worst before the market hits the crapper. However, I think that last round of IPOs were the bad ones and now we are dealing with higher quality.
Let's hope that the last piece of the puzzle can fit in with all of this. What is that? My hot charts like the longs I have posted in my 'past big winners' section under the longs/shorts on my .com site. There are very few stocks with perfect setups. But there are some stocks that are starting to setup in pretty bases that could turn into something "hot, perfect, or beautiful."
So right now, as I see, due to these conditions, I still believe if we rally here we will have just a bear market rally in a longer-term downtrend. The 200-day moving averages will probably end up being great areas to short.
However, I would love the market to just take off here on huge volume, thus creating some hot charts with some CANSLIM charts. Then I would like to see the market pullback and have all these charts setup in beautiful bases and then have them breakout with volume surges and max green BOP everywhere. Just like in 1991, 1995, 1998, 1999, and 2003 (check your Nasdaq monthly charts to check this data out for yourself so you know what the market trend will look like when these hotties occur). I am a positive man.
But if that scenario doesn't happen, I am ready to take my shorts to the area that CETV hit for us today. Today CETV hit the 90% gain mark for a short in a little over 6 or 7 months. This is exactly how I want EVERY short I take to act. I expect the best and prepare for the worst, always.
If this market decides to go up, I will ride it with my longs. If it then fails, I will re-add to my shorts and let my current shorts ride the move lower. If the market just keeps rallying well then we will keep making a LOT MORE MONEY than we are now in this "go-nowhere-market."
Well everyone, we had a long downtime due to my videos being SO BIG. Next time the videos will be on a separate server of ours that will allow us to come up quickly. I don't think we had any security breaches. It was simply a server overload due to too many files. I have to learn to keep my mouth shut more when I make these videos. I should be able to do them in six minutes. Let's see if I can do that tomorrow.
Aloha and great luck everyone. I will see all my friends in the chat room tomorrow. Let's make some real money and not "mad money" or is it "losing money?" Whatever.
PS: Can you believe I got everything done like I promised? I hope my videos don't bring down the site tonight! He he!! Have a wonderful day and watch out for the volume on CNBC. It is a MUCH BETTER channel on MUTE during the day. It will help you do more important research on sites like Investors.com (IBD) and read important stories throughout the day on news items related to the market to pick up on trends. There is too many conflicting opinions that will leave you more confused than confident. You want confidence, do your own work and learn it the right way--the CANSLIM way.
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