Stocks ended the holiday-short week on a very positive note but by now everyone knows this. If you guys do not have a real-time stock market intraday tracker for the general market, I really recommend that you use a delayed candlestick version like the one on finviz. These intraday candlestick charts are the highest quality I believe on the web. Now, obviously, if you have any kind of real-time platform you have access to nice intraday charts but for those out there using a delayed broker that do not like the charts they provide or for those just learning about the stock market, these intraday charts of the DJIA, SP 500, and Nasdaq are a must to get to know.
Why? Well a lot of individuals do not realize that how an index trades intraday is actually and extremely valuable way of knowing what the pros are doing. We already know if we have a day where the indexes close higher on higher volume that that is good while when we have an index close at the LOD with volume higher that is bad. However, this EOD analysis while very important and a must for me to make a smart decision about the trend of the market is in fact only a start sometimes. Other times, it is open and shut like the market opens, barely rallies, starts to selloff, and closes flat to slightly higher or lower. No big deal.
However, other times, like on March 25th for the Nasdaq the intraday action can tell me a lot more than it can most. During that day (I do not have the data in front of me) the market was rallying but lagging stocks like banks, real estate, and other clear beaten up weaklings were making the way higher. But before the session could end stocks took a dump lower and appeared that they would close at the LOD. However during the last hour and especially I believe the last 5 to 10 minutes stocks took off with not only all stocks gaining but leading stocks taking the reigns for the first clear time of the rally attempt. This showed up as an amazing intraday move.
Since then, Nasdaq only, we have seen some great tight session with strong closings that I believe all inexperienced and experienced should get used to spotting if we are going to have an uptrend work. Now some of these indexes do not have volume data on some providers so I have to go look at Telechart's SP 400 and SP 600 to determine the rally. At the same time I need to use Daily Graphs to get a gauge on the IBD leading indexes. The bottom line from all of this is that it is very important to know when the market is moving up with volume during uptrends.
Like I was saying, some examples from the Nasdaq include 3/10, 3/12, 3/17, 3/18, 3/23, definitely 3/25, 3/26, 4/1, 4/2, and now 4/7. These closings and intraday reversals have helped put the Nasdaq on top as far as top markets are concerned.
Other indexes have had nice sessions on the daily and weekly patterns the past five weeks but by far the Nasdaq has taken over. The nicest indexes on Friday that I have been waiting since the rally started to see them get going are the SP 400 and SP 600. It has been a long time since I have seen these indexes put in those kind of moves.
Sadly the indexes that continue to lag are the IBD 100 and IBD 85-85. The really sad part is that this deep into the rally, by now, these leading indexes should be leading the market higher.
I will be going over more of how to read charts for subtle clues on if the market is going higher and of going lower.......
FREE YOUTUBE VIDEO (PAID SUBSCRIBERS HAVE 4 VIDEOS 20 MINS EACH IN THE GOLD FORUMS):
PART ONE (10:30):
PART TWO (8:00):
Showing posts with label Gold Silver Nasdaq NYSE SP600 SP500 Platinum USDollar. Show all posts
Showing posts with label Gold Silver Nasdaq NYSE SP600 SP500 Platinum USDollar. Show all posts
Sunday, April 12, 2009
Friday, April 03, 2009
Stock Market Indexes Put In Another Very Bullish Session On Much Higher Volume But Leaders Continue To Lag BADLY
It was another great day for the stock market which took off on the back of an excellent session in both Asia and Europe. The best part of the rally is that volume was, once again, very large on the rally. This means that the March pattern of higher volume on the rallies and lower volume on the pullbacks. This is the exact kind of pattern is what you want in a market that you are going long in.
Despite all the fireworks in the stock market, I still have one major issue that I just can't ignore. That is leading stocks. I am very happy and excited watching the Nasdaq rally in an exciting manner of higher volume on the rallies and lower volume on the pullbacks. Along with this action a lot of charts are starting to setup in nice patterns. But that is the problem in and of itself; the patterns are just nice.
There simply is not enough "near-perfect" to "perfect" setups (study my 'past big winners' to review what one would look like) to get me excited. Especially when you combine that with the leading stocks lagging the entire uptrend. The Nasdaq composite is up 26% this month off the lows, even outperforming the WORLD LEADING Shanghai Composite in China which is up 17% in March from its lows. Since the Oct/Nov lows it is the leading index but the Nasdaq has been right behind it, in world markets.
While that is definitely exciting about the Nasdaq some great detailed research shows a little disturbing pattern developing. It is clear to me that despite the vast amount of nice charts that I have been showing subscribers in my videos and post in the 'new longs' section, that these stocks are not leading the Nasdaq higher. So even with the Nasdaq having new highs dominating new lows, there is not too many stocks making 100% to 200% moves in a month or so (that isn't $10 or less). To find out where the move is coming from you don't need to look any further than six stocks. GOOG, MSFT, CSCO, AAPL, ORCL, and INTC all make up nearly 25% (23.8%) of the entire Nasdaq. These stocks are up 24%, 26%, 33%, 35%, 35%, and 27% respectively. Only GOOG has not kept up with the Nasdaq and it was only off by 2%. The rest of the big fat heavy giants (btw, how high can I jump? Not very high. So would you hire me to play Center on your basketball team?) outpaced the index and tells me that they have been completely leading this market higher.
This is disappointing for individuals like me that can read the market very well (reading it well doesn't mean you will make a fortune ALL the time-remember that) because we know that this means that the rally is in the hands of six stocks and if one has a real bad day the market will have a bad day. This would NOT be bad IF we had those "near-perfect to perfect" chart setups in more than one stock at a time. If I had "hot" stocks setting up, breaking out, and showing me 20% gains IMMEDIATELY (like ALWAYS HAPPENS TO ME in bull markets) I would be ecstatic about this rally. But the opposite is happening.
As this rally goes on, more and more of my "nice" charts are becoming "mediocre." This happens in either one of three ways. Usually when I go long a stock it is setting up in a chart pattern that has historically led to large gains. When this pattern comes with a LOT of green to max-green BOP, a RS line hitting a new high, and a moneystream line hitting a new high, I know that I have a VERY HIGH reward/risk situation. In 1999 and 2003, when the rally started, proving that it had lasting power, "near-perfect to perfect" charts were setting up and breaking out everywhere. This allowed my accounts to grow exponentially in a short amount of time. Those two years make up for over 70% of my gains. How? Because I knew we had "the moment" both years and went fully long on as much margin as I could get my hands on. If you have reviewed my 'past big winners' you know how large the gains were and what you could have made with margin. Obviously, these patterns work, when they show up!
This rally, as it goes along, kept on producing more-and-more great looking charts with sound fundamentals or beautiful charts (not perfect) that had poor fundamentals. This started to get me very excited. Then I started to get more bullish as my longs went from just a handful to 20. But the last two days, with the strength the market has exhibited with the strong volume, has led to the opposite of what should be happening.
Instead, the stocks that I go long going from green to max green BOP (if not already there) are not making it all the way to the max 100 area. Instead they are getting near the max level and then slowly moving lower. During this time price holds and volume pulls back on low volume thus making the once nice setup now just mediocre. Also the recent longs I have taken breaking out to new highs or bouncing off key support on huge volume that do have max green BOP have also shown the similar pattern of staying max green for one or two days and then declining.
One particular long was looking "near-perfect" when I went long. Here we are about a week into the holding and the max green BOP is gone already. Now the max-green BOP could be back tomorrow as it was up over 9% in the after-hours market, according to someone I know. But if it is not max green, it is just going to be a long in my portfolio moving higher that I will need to treat like a CANSLIM long position as it does qualify as a CANSLIM long. Hopefully, though, tomorrow it will be max green again and I can squash my worry.
But besides my longs not moving up 20% in the first two weeks and 100% in the first three months, like they should and always have done in strong uptrends, another problem is with the longs setting up. There are so many on my watchlist right now that I WOULD LOVE to go long if they keep the green/max-green level of BOP, huge accumulation, and tight price action. However, recently, I have noticed some stocks losing their beauty. NAV is just one example I can think of today. There are many more.
We could focus on that negativity but I feel better "hoping" that the market will continue to rally on stronger volume and pullback on lower volume. While that happens I "hope" that more-and-more of the longs that I am watching that are starting to lose a little of their luster can kick-turn it right back around. That would be great and have me feeling much better that the rally can continue for the intermediate term. Stocks like CSTR, PEGA, ANV, and a personal favorite of mine that I am watching and praying can setup and breakout from a long enough base because the price, volume, and BOP action is just too good to be right. This stock begins with the letter C and subscribers in my chat room or even astute readers of my forums know what stock I am talking about. If these four stock can base, breakout with huge volume and max green BOP, and run higher around 20% in a couple of weeks I will then be FOR SURE that we are in a "legitimate" bull market. However, if that doesn't happen, I am preparing myself to get short again.
I currently have 20 longs and 28 shorts. All it will take to cover the shorts is for another rally on very large volume with BOP going green. If that happens, I will be taking my profits. However, all that has to happen for me to cut my losses in my longs is for the market to have a nasty selloff on higher volume with all my green and max-green stocks turning into yellow and red filled charts.
I am ready for this market to do anything and I am positioned in the strongest stocks for a new bull market and have my shorts that are not only rallying but will outpace the market to the downside if we fail the rally. This is the ONLY way to approach the market as the market doesn't care about your opinion and especially doesn't care about mine.
Great luck out there and ALOHA!
FREE YOUTUBE VIDEO:
IS FINISHED AND IS BEING PUT ON THE SERVER
Twitter: Joshua_Hayes
Facebook: BigWaveTrading.com group, Joshua Hayes county: Maui
MySpace: JoshuaNcontrol
LinkedIn: Joshua Hayes county: Maui
Despite all the fireworks in the stock market, I still have one major issue that I just can't ignore. That is leading stocks. I am very happy and excited watching the Nasdaq rally in an exciting manner of higher volume on the rallies and lower volume on the pullbacks. Along with this action a lot of charts are starting to setup in nice patterns. But that is the problem in and of itself; the patterns are just nice.
There simply is not enough "near-perfect" to "perfect" setups (study my 'past big winners' to review what one would look like) to get me excited. Especially when you combine that with the leading stocks lagging the entire uptrend. The Nasdaq composite is up 26% this month off the lows, even outperforming the WORLD LEADING Shanghai Composite in China which is up 17% in March from its lows. Since the Oct/Nov lows it is the leading index but the Nasdaq has been right behind it, in world markets.
While that is definitely exciting about the Nasdaq some great detailed research shows a little disturbing pattern developing. It is clear to me that despite the vast amount of nice charts that I have been showing subscribers in my videos and post in the 'new longs' section, that these stocks are not leading the Nasdaq higher. So even with the Nasdaq having new highs dominating new lows, there is not too many stocks making 100% to 200% moves in a month or so (that isn't $10 or less). To find out where the move is coming from you don't need to look any further than six stocks. GOOG, MSFT, CSCO, AAPL, ORCL, and INTC all make up nearly 25% (23.8%) of the entire Nasdaq. These stocks are up 24%, 26%, 33%, 35%, 35%, and 27% respectively. Only GOOG has not kept up with the Nasdaq and it was only off by 2%. The rest of the big fat heavy giants (btw, how high can I jump? Not very high. So would you hire me to play Center on your basketball team?) outpaced the index and tells me that they have been completely leading this market higher.
This is disappointing for individuals like me that can read the market very well (reading it well doesn't mean you will make a fortune ALL the time-remember that) because we know that this means that the rally is in the hands of six stocks and if one has a real bad day the market will have a bad day. This would NOT be bad IF we had those "near-perfect to perfect" chart setups in more than one stock at a time. If I had "hot" stocks setting up, breaking out, and showing me 20% gains IMMEDIATELY (like ALWAYS HAPPENS TO ME in bull markets) I would be ecstatic about this rally. But the opposite is happening.
As this rally goes on, more and more of my "nice" charts are becoming "mediocre." This happens in either one of three ways. Usually when I go long a stock it is setting up in a chart pattern that has historically led to large gains. When this pattern comes with a LOT of green to max-green BOP, a RS line hitting a new high, and a moneystream line hitting a new high, I know that I have a VERY HIGH reward/risk situation. In 1999 and 2003, when the rally started, proving that it had lasting power, "near-perfect to perfect" charts were setting up and breaking out everywhere. This allowed my accounts to grow exponentially in a short amount of time. Those two years make up for over 70% of my gains. How? Because I knew we had "the moment" both years and went fully long on as much margin as I could get my hands on. If you have reviewed my 'past big winners' you know how large the gains were and what you could have made with margin. Obviously, these patterns work, when they show up!
This rally, as it goes along, kept on producing more-and-more great looking charts with sound fundamentals or beautiful charts (not perfect) that had poor fundamentals. This started to get me very excited. Then I started to get more bullish as my longs went from just a handful to 20. But the last two days, with the strength the market has exhibited with the strong volume, has led to the opposite of what should be happening.
Instead, the stocks that I go long going from green to max green BOP (if not already there) are not making it all the way to the max 100 area. Instead they are getting near the max level and then slowly moving lower. During this time price holds and volume pulls back on low volume thus making the once nice setup now just mediocre. Also the recent longs I have taken breaking out to new highs or bouncing off key support on huge volume that do have max green BOP have also shown the similar pattern of staying max green for one or two days and then declining.
One particular long was looking "near-perfect" when I went long. Here we are about a week into the holding and the max green BOP is gone already. Now the max-green BOP could be back tomorrow as it was up over 9% in the after-hours market, according to someone I know. But if it is not max green, it is just going to be a long in my portfolio moving higher that I will need to treat like a CANSLIM long position as it does qualify as a CANSLIM long. Hopefully, though, tomorrow it will be max green again and I can squash my worry.
But besides my longs not moving up 20% in the first two weeks and 100% in the first three months, like they should and always have done in strong uptrends, another problem is with the longs setting up. There are so many on my watchlist right now that I WOULD LOVE to go long if they keep the green/max-green level of BOP, huge accumulation, and tight price action. However, recently, I have noticed some stocks losing their beauty. NAV is just one example I can think of today. There are many more.
We could focus on that negativity but I feel better "hoping" that the market will continue to rally on stronger volume and pullback on lower volume. While that happens I "hope" that more-and-more of the longs that I am watching that are starting to lose a little of their luster can kick-turn it right back around. That would be great and have me feeling much better that the rally can continue for the intermediate term. Stocks like CSTR, PEGA, ANV, and a personal favorite of mine that I am watching and praying can setup and breakout from a long enough base because the price, volume, and BOP action is just too good to be right. This stock begins with the letter C and subscribers in my chat room or even astute readers of my forums know what stock I am talking about. If these four stock can base, breakout with huge volume and max green BOP, and run higher around 20% in a couple of weeks I will then be FOR SURE that we are in a "legitimate" bull market. However, if that doesn't happen, I am preparing myself to get short again.
I currently have 20 longs and 28 shorts. All it will take to cover the shorts is for another rally on very large volume with BOP going green. If that happens, I will be taking my profits. However, all that has to happen for me to cut my losses in my longs is for the market to have a nasty selloff on higher volume with all my green and max-green stocks turning into yellow and red filled charts.
I am ready for this market to do anything and I am positioned in the strongest stocks for a new bull market and have my shorts that are not only rallying but will outpace the market to the downside if we fail the rally. This is the ONLY way to approach the market as the market doesn't care about your opinion and especially doesn't care about mine.
Great luck out there and ALOHA!
FREE YOUTUBE VIDEO:
IS FINISHED AND IS BEING PUT ON THE SERVER
Twitter: Joshua_Hayes
Facebook: BigWaveTrading.com group, Joshua Hayes county: Maui
MySpace: JoshuaNcontrol
LinkedIn: Joshua Hayes county: Maui
Wednesday, April 01, 2009
Stocks Put In Another Bullish Session With The Nasdaq Having Higher Volume; Leading Stocks Are Still Lagging But Some Stocks Are Looking Real Bullish
Let me first start off by saying that the session in Asia was just amazing with the Nikkei up 4.4% and the Hang Seng index up 7% last night. To go along with that, futures are just popping right now as we go into the morning's opening bell. This is excellent action right now, I have to say.
But what makes this action more exciting to me is that for the first time in a full year (last time was 2001) we have more than just a handful of nice charts out there. To go along with that many of these nice charts are either in leading industry groups or are the leader in their respective group in terms of either price performance or both price performance and fundamentals. The fact that so many charts have green and max green BOP, with the market in an uptrend and China leading, is the most bullish setup we have seen since August 2007 when the Nasdaq made its last run into the October 31st high.
Since then it has been far and wide in looking for winning stocks on the long side. In 2008 we had ONLY PDO and DGLY early on. Then we got XSI (which is now ANCI) and got a quick near 100% gain in a few months with it also setting up in a near-perfect setup in the middle of August giving us a quick 50% gain. That second buy was real nice but even I could not load up due to the fact that so many stocks were acting so poorly. I was too scared and still had the thoughts of the FALC and INXI charts that failed in 2007. So obviously I couldn't load up, even with the near-perfect setup, simply because there was no other leadership to support much less any other stocks with green BOP, strong accumulation, and tight price action.
The best setup, however, came from a stock we are long now for a 40% gain. That stock is AIPC and didn't give just one near-perfect signal but TWO near-perfect signals (6/18/08 8/7/08) that gained buyers a 220% gain and a 185% gain. Just one problem for us at BigWaveTrading; Telechart does not have OTCBB stocks (even if they have great fundamentals and are about to list like AIPC), pink sheets, Canadian, or Chinese stocks. The problem with this is that my price, volume, and BOP that I have used to make a living in the market since 1996 work best on small and mid cap companies. Obviously, that is all that exist in OTCBB markets. So I am sure RIGHT NOW there are a lot of heavily accumulated, max green BOP filled stocks with nice tight price patterns breaking out to new highs just mocking us as we miss them.
Thankfully, AIPC did give another less-than-near-perfect setup/breakout that we were able to take advantage of and now has us a 40% gain. The other thing we can be thankful for is that right now there are a lot of stocks that are trying to setup in mid-summer 2008 patterns like AIPC and XSI (ANCI). If you study my 1999, 2003, and 2004-2007 (heck even 01, 02, and 08 can help) past big winners, you will see that a lot of stocks are beginning to setup in patterns that we have seen before. Nothing EVER changes on wall street. Well one thing does. The players. Besides that, human emotion never changes.
Speaking of human emotions, the Investors Intelligence survey came out and found bulls rose a little to 31% and the bears dropped a little to 38%. The current trend isn't anything to be happy about but the fact that EVEN AFTER this 22% off the March lows newsletter writers are still very bearish as they know "this market is going to top soon." They may be right but if they are wrong there is going to be lot of missed opportunities on their end. Even if they are right, we operate so well that we will be able to take our profits, cut our losses, and get short the proper setups that come along. So we don't have anything to worry about.
But worry is just what the put/call players are doing even after today's rise in the stock market. This is good news because there has been a recent pattern of markets rallying and yet the put/call rises. Normally, options traders get more and more bullish as indexes rally. So when you see divergence, like we saw in 2008, you know it is worthy to pay attention to. Today the put/call rose from .76 to .86. That's great as that says as the market rallies people "just know it is going to fail." Since our longs are growing this is very great news. Also another important number is the AAII bull/bear survey. Despite everyone seeing the rally and the breakouts, people are still hesitant. As we know the AAII number is the "very dumb money" so it pays to watch how they think. How are they thinking? They are mixed. But the good news for those that keep watching their amount of long position in their portfolio rise the public is only bullish by 43% to bearish of 37%. To go along with that 20% don't know what the heck is going on as they are undecided.
So we have the charts starting to show up in multiple industries (only missing the max green BOP charts that last for 50 or more :)), we have sentiment working correctly for us, option players keep getting bearish as the market rises, and we have a lot of people out of the market meaning that the best serious players are left. Fewer of the "REALLY dumb money" players exist after the 50%+ losses a lot of newcomers took and that means a more orderly market. There is really only one thing missing (well two if you are asking for that stocks be perfect with huge accumulation, max green BOP, and a flat base breakout lasting five weeks). Where are the IPOs?
Well the pipeline isn't anything to get excited about but we do have a new IPO pricing today I do believe. CYOU is scheduled to price at the opening range of the $14-$16 area. The best news about this IPO is it is a spinoff from Sohu.com which helped earn me a 2,000% gain from my first small purchase and a 798% return on the MUCH bigger second buy from a MUCH better chart setup. From the first and second purchase to the top of this stock, the ride was only nine months and eight months long respectively. Hopefully, if we are REAL LUCKY (don't count on it) CYOU can setup and breakout and be the next SOHU of 2002-2003.
Right now, it is all about Gold and Silver as 7 of my 20 longs are Gold related. It has been the #1 industry for 6 straight months in Investors Business Daily. What is more amazing that 7 months ago it was DEAD LAST at #197. And the stocks are JUST NOW breaking out. That is pretty rare to see stocks not run for six months yet have their sector lead the whole way. Now those leaders are breaking out and if history and the stock market (which is THE MOST IMPORTANT "if") repeats itself some of those 7 longs should be making us a lot of money in a short time frame.
Don't forget, besides the positions I am long, I also encourage anyone 50 or younger to please go out and to start slowly accumulating Gold or Silver bullion. Just a little bit can go a LONG WAY if something horrible ever would happen, God forbid. Great luck, hopefully our markets can repeat Asia ON HIGHER VOLUME, and I will see you in the Chat Room or Forums. ALOHA!
FREE YOUTUBE VIDEO:
But what makes this action more exciting to me is that for the first time in a full year (last time was 2001) we have more than just a handful of nice charts out there. To go along with that many of these nice charts are either in leading industry groups or are the leader in their respective group in terms of either price performance or both price performance and fundamentals. The fact that so many charts have green and max green BOP, with the market in an uptrend and China leading, is the most bullish setup we have seen since August 2007 when the Nasdaq made its last run into the October 31st high.
Since then it has been far and wide in looking for winning stocks on the long side. In 2008 we had ONLY PDO and DGLY early on. Then we got XSI (which is now ANCI) and got a quick near 100% gain in a few months with it also setting up in a near-perfect setup in the middle of August giving us a quick 50% gain. That second buy was real nice but even I could not load up due to the fact that so many stocks were acting so poorly. I was too scared and still had the thoughts of the FALC and INXI charts that failed in 2007. So obviously I couldn't load up, even with the near-perfect setup, simply because there was no other leadership to support much less any other stocks with green BOP, strong accumulation, and tight price action.
The best setup, however, came from a stock we are long now for a 40% gain. That stock is AIPC and didn't give just one near-perfect signal but TWO near-perfect signals (6/18/08 8/7/08) that gained buyers a 220% gain and a 185% gain. Just one problem for us at BigWaveTrading; Telechart does not have OTCBB stocks (even if they have great fundamentals and are about to list like AIPC), pink sheets, Canadian, or Chinese stocks. The problem with this is that my price, volume, and BOP that I have used to make a living in the market since 1996 work best on small and mid cap companies. Obviously, that is all that exist in OTCBB markets. So I am sure RIGHT NOW there are a lot of heavily accumulated, max green BOP filled stocks with nice tight price patterns breaking out to new highs just mocking us as we miss them.
Thankfully, AIPC did give another less-than-near-perfect setup/breakout that we were able to take advantage of and now has us a 40% gain. The other thing we can be thankful for is that right now there are a lot of stocks that are trying to setup in mid-summer 2008 patterns like AIPC and XSI (ANCI). If you study my 1999, 2003, and 2004-2007 (heck even 01, 02, and 08 can help) past big winners, you will see that a lot of stocks are beginning to setup in patterns that we have seen before. Nothing EVER changes on wall street. Well one thing does. The players. Besides that, human emotion never changes.
Speaking of human emotions, the Investors Intelligence survey came out and found bulls rose a little to 31% and the bears dropped a little to 38%. The current trend isn't anything to be happy about but the fact that EVEN AFTER this 22% off the March lows newsletter writers are still very bearish as they know "this market is going to top soon." They may be right but if they are wrong there is going to be lot of missed opportunities on their end. Even if they are right, we operate so well that we will be able to take our profits, cut our losses, and get short the proper setups that come along. So we don't have anything to worry about.
But worry is just what the put/call players are doing even after today's rise in the stock market. This is good news because there has been a recent pattern of markets rallying and yet the put/call rises. Normally, options traders get more and more bullish as indexes rally. So when you see divergence, like we saw in 2008, you know it is worthy to pay attention to. Today the put/call rose from .76 to .86. That's great as that says as the market rallies people "just know it is going to fail." Since our longs are growing this is very great news. Also another important number is the AAII bull/bear survey. Despite everyone seeing the rally and the breakouts, people are still hesitant. As we know the AAII number is the "very dumb money" so it pays to watch how they think. How are they thinking? They are mixed. But the good news for those that keep watching their amount of long position in their portfolio rise the public is only bullish by 43% to bearish of 37%. To go along with that 20% don't know what the heck is going on as they are undecided.
So we have the charts starting to show up in multiple industries (only missing the max green BOP charts that last for 50 or more :)), we have sentiment working correctly for us, option players keep getting bearish as the market rises, and we have a lot of people out of the market meaning that the best serious players are left. Fewer of the "REALLY dumb money" players exist after the 50%+ losses a lot of newcomers took and that means a more orderly market. There is really only one thing missing (well two if you are asking for that stocks be perfect with huge accumulation, max green BOP, and a flat base breakout lasting five weeks). Where are the IPOs?
Well the pipeline isn't anything to get excited about but we do have a new IPO pricing today I do believe. CYOU is scheduled to price at the opening range of the $14-$16 area. The best news about this IPO is it is a spinoff from Sohu.com which helped earn me a 2,000% gain from my first small purchase and a 798% return on the MUCH bigger second buy from a MUCH better chart setup. From the first and second purchase to the top of this stock, the ride was only nine months and eight months long respectively. Hopefully, if we are REAL LUCKY (don't count on it) CYOU can setup and breakout and be the next SOHU of 2002-2003.
Right now, it is all about Gold and Silver as 7 of my 20 longs are Gold related. It has been the #1 industry for 6 straight months in Investors Business Daily. What is more amazing that 7 months ago it was DEAD LAST at #197. And the stocks are JUST NOW breaking out. That is pretty rare to see stocks not run for six months yet have their sector lead the whole way. Now those leaders are breaking out and if history and the stock market (which is THE MOST IMPORTANT "if") repeats itself some of those 7 longs should be making us a lot of money in a short time frame.
Don't forget, besides the positions I am long, I also encourage anyone 50 or younger to please go out and to start slowly accumulating Gold or Silver bullion. Just a little bit can go a LONG WAY if something horrible ever would happen, God forbid. Great luck, hopefully our markets can repeat Asia ON HIGHER VOLUME, and I will see you in the Chat Room or Forums. ALOHA!
FREE YOUTUBE VIDEO:
Sunday, March 15, 2009
Will Stocks Keep Rallying Next Week? We Don't Need To Know As The Charts Will Continue To Tell Us What To Do As It Happens; What Matters The Most Is T
I spent a lot of time this weekend (looked at over 6,000 charts in a little under an hour--53 minutes) scanning charts and have to say I see more "green" charts than I have since the March 2008 to June 2008 bear market rally. There appears to be MUCH BETTER looking stock patterns now than there was then, also. Back in March 2008, a lot of stocks were clearly topping and only making short-term bear market low-volume rallies back to resistance. There were very few winners then and very few "nice to hot" charts. DGLY and PDO were the only two that set up and did not fail. The key tell the market was over, to me, was when ACM setup in that beautiful pattern and started a very heavy volume move in June which end very quickly when in five days the stock closed below the key averages and the low of the purchase date. That was clearly a very negative situation to see occur for that stock. When stocks setup in strong bases like that, especially when they are new issues, and then fail, you know things are not going to go well. This rally has a lot of stocks with stocks making nice bases full of strong BOP and volume action. These stocks are showing up AFTER the market put in a huge decline, thus increasing our odds that if a successful setup resolves its way higher if and when they breakout from those patterns. Once again, I am going to keep it short as I have already given subscribers a TON OF INFORMATION this weekend with five videos for them to watch since Friday. Subscribers you are completely up-to-date and ready to battle this war for your capital. Great luck everyone! Aloha!
Free YouTube Video:
Free YouTube Video:
Sunday, March 08, 2009
Stocks End The Week On Another Weak Note, Despite A Last Hour Surge Into The Close; Shorts Are Making A LOT Of Money In This Market--It Feels Good But
Market Speculator is going to do the commentary this weekend since he was closer to the market than I was this week. I will however add some important stock market "notes" below. These notes are important key points that I want everyone to think about while we "search (yeah right!) for a bottom."
When Josh asked me to write a few comments about the market I didn't realize he'd sum up ALL THE FACTS below in his notes below! Throughout much of the week the action was dominated by the actions of short-sellers covering and re-shorting. It appeared as if all the large institutional players were simply selling into any strength we saw all week long. The market needs institutional support to move higher, but we simply are seeing these institutional players as net sellers rather than net buyers of this market.
There is absolutely no need for us to be trying to pick a bottom here. Our charts will lead us to the stocks that will lead this market out from a bottom. Unfortunately, we have really do not have ANY stocks at this point that provide this market with the type of leadership to move us higher. We will find these stocks when we do finally reach a short-term or even "the" bottom. Until then, we simply wait and take our opportunities on the short side.
The number one concern we must be aware of is the EXPLOSION in the monetary base of the United States!
(THE FULL CHART DOES NOT SHOW ON BLOGGER. IF YOU GO TO BIGWAVETRADING.NET YOU CAN SEE THE FULL CHART)
If this does not scare you, what will scare you is that never before in Human history has any Government EVER has increased its money supply like the Federal Reserve and US Treasury. One piece of the inflation equation is the supply of money. The more money you have floating in the system the more expensive goods and services become. Unfortunately, in the near future we may begin to feel the consequences of our Federal Reserve, Congress, President, and Treasury's actions.
We'll continue to stay on top of this market and extract profits from this terrible market and cut our losses when it is prudent to do so. Capital preservation is the #1 game at the moment. We will get a new bull market at some point and we'll be ready to take advantage!
Market Speculator
Notes from Joshua Hayes:
--There were only 2 stocks making new 52-week highs (one was too thin to think of...what was the other one? RGR (Sturm Ruger). Why do you think that company is hitting a new high? BTW, while only 2 stocks made a new high, there were 1,199 stocks making a new low. This is not bullish and is ONLY bearish.
--A little good news is that the Nasdaq is developing some great RS to the SP-500 since the November lows and while the NYSE fell 7% this week the IBD 100 only fell 4.8%. This makes it possible for a possible over-sold bounce in the future. However, I would wait for a series of higher highs and higher lows before trying to play this market on the long side.
--IPOs in the past year make up 1.1% of the total stocks available on the NYSE. This is, by FAR, an all-time low. When the stock market is in an uptrend it is common to see anywhere between 4% to 7% of all issues being IPOs. The recent high happened on March 16, 2005 when 9.3% of all stocks on the NYSE were new issues in the past year. Pretty impressive! In 1999, I can honestly say it must have been around 15-20% of all stocks on the Nasdaq. So clearly we are in depressing waters since new issues are the lifeblood of growth in the stock market. The fewer IPOs the lower the gains the market will produce. 1.1% is a horrible number and if it gets below 1% it will be very upsetting.
--If this is a capitulation bottom, where is all the volume? Where is the HUGE intraday reversal? No, my friends, Friday was not a capitulation bottom.
--Right now the AAII is showing the most bears its survey has ever shown with average investors coming in at 18% bullish and 70% bearish. Bearishness is very thick, in the public arena. As for the investment newsletter writers, the same thing can be said. Bulls come in at 29.7% while bearish newsletter writers are 44% bearish. With the crowd so bearish, it must be showing up in the volatility gauges that we use, ALONG WITH PRICE AND VOLUME ACTION IN THE INDEXES, right? Wrong!
--Back on March 17, 2008 friendly (ROFLMBO) people like Sandy Wright, my accountant, and Jim Cramer were telling me to buy LEH, BSC, GS, WFC, C, BAC, and other "cheap" stocks that I was "too stupid to realize they were bargains." Since none of these people could read a chart to save their lives, I tried to figure out why they would want to go long here when, to me, CLEARLY, the market was possibly beginning to really top out and start a potential nasty bear market. It became obvious to me it was simply greed and the fact that the market was very fearful and they were all trying to be cute and catch a big move. It failed. The put/call on that date was a whopping 1.41! When the November lows came for the market in late 2008, it didn't look right, even though the VIX hit 90! Why? The put/call was still no where near 1.41. I believe it hit about 1.2 and that was it. Right now, the put/call is .93. Does this .93 put/call show the same amount of fear as the 1.41 day? Not even close. So how can this be a bottom? Let's look at the VIX first, before we answer that.
--The VIX today is a high 49 very close to the magical 50-60 range that used to indicate a bottom. That was until those November lows. In November, the VIX hit 89.53, intraday, which was the highest intraday reading since the 1987 crash. With the VIX hitting new highs it hasn't seen in over 20 years the market must be indicating enough fear in the trading to be at a low right? Not so fast. Remember, the put/call was only 1.25 at its highest and that was not higher than the 1.41 in March. Therefore, the VIX and put/call did not confirm a bottom in November just like it didn't confirm one in March.
--The NYSE, the SP 600, the SP 500, the Russell 2000, the IBD 100, the DJIA, and the IBD 85-85 all have the worst accumulation/distribution you can have with E. The only index without an E is the Nasdaq.
--The NYSE short-interest ratio is at 8.69 which is much healthier than the 17.99 it displayed right before the swoon from October to November. This is a bright spot, along with the healthy level of bearishness with the overall public, for a possible bottom. However, before you go out trying to call a bottom with anything I have listed today in my "notes," don't forget the most important ingredient in this market dish is price and volume of leading stocks and the market.
--How many beautiful max green BOP filled, heavy accumulation with low distribution filled, nice and tight green charts are there out there right now? I have the scans that find them. I can tell you. About two to three. Two to three! That's it! I should have at least two hands full of "hot" stocks starting to setup or near completing a setup, before I actually get confident in calling a bottom.
--Not only will a handful or two of "hot" stocks be required, but we MUST see leading (CANSLIM quality) stocks in leading industries setting up and breaking out or at least leading the market higher, before I ever rely on any of the indicators I spoke of above before going heavily long the market.
--The most important thing to look for a bottom, however, is the simple price and volume of the general market. When the market starts selling off on BELOW average volume (the past week EVERY DOWN DAY WAS EITHER A NASTY SELL OFF OR A DISTRIBUTION DAY) and then hits the lows and reverses on strong volume, which is then followed by another up day and then within the next 3-10 days have a very high volume accumulation day (volume needs to be higher than the day before), then and only then can we look for a bottom. If you have those three up-sessions (PLEASE, study the 2003 FTD I believe on March 17, 2003) within 4 to 11 sessions, have "hot and beautiful" green chart patterns setting up in proper chart patterns, have CANSLIM stocks moving higher or setting up in proper bases ready to breakout, have a put/call near 1.41, have a VIX near 90, and there are more bears than bulls in the two key surveys then you know we have a bottom...or at least have the potential for a real bottom. Any "potential bottom" anyone calls out there on CNBC or in the WSJ is just noise, unless everything lines up. Just remember, the most important part is the actual index and the price and volume action of that index. The put/call, the VIX, the surveys, the opinions, and anything else technicians/contrarians use to try to ID bottoms are useless, UNLESS THE PRICE AND VOLUME ACTION IN THE INDEXES AND LEADING STOCKS ARE MOVING HIGHER.
Aloha and I will be back to the "normal" routine on Monday when our Platinum subscriber Todd goes home. As subscribers know I still came in the chat room, updated the forums fully, and updated the longs and shorts pages every day, while basically on a vacation. There aren't many people that will work harder FOR YOU than me. I love you all (minus that jerk I just kicked out of my website) and hope you continue to make us much money as I am in this horrible economic environment. I HATE SOCIALISM and pray for the day when the stock market can return to normal.
top longs/(shorts) with TOTAL returns making me money TODAY: ANCI 55% (BOH 36% LLL 39% AMX 55% THG 18% CEO 38% RDK 38% GGB 68% PLCE 26% OKE 56% CFR 19% CBU 25% MOS 54% AAPL 47% WABC 15% CYT 79% GTIV 47% POT 58% RIMM 63% FSYS 44% SPG 68%)
FREE YOUTUBE VIDEO:
When Josh asked me to write a few comments about the market I didn't realize he'd sum up ALL THE FACTS below in his notes below! Throughout much of the week the action was dominated by the actions of short-sellers covering and re-shorting. It appeared as if all the large institutional players were simply selling into any strength we saw all week long. The market needs institutional support to move higher, but we simply are seeing these institutional players as net sellers rather than net buyers of this market.
There is absolutely no need for us to be trying to pick a bottom here. Our charts will lead us to the stocks that will lead this market out from a bottom. Unfortunately, we have really do not have ANY stocks at this point that provide this market with the type of leadership to move us higher. We will find these stocks when we do finally reach a short-term or even "the" bottom. Until then, we simply wait and take our opportunities on the short side.
The number one concern we must be aware of is the EXPLOSION in the monetary base of the United States!
(THE FULL CHART DOES NOT SHOW ON BLOGGER. IF YOU GO TO BIGWAVETRADING.NET YOU CAN SEE THE FULL CHART)
If this does not scare you, what will scare you is that never before in Human history has any Government EVER has increased its money supply like the Federal Reserve and US Treasury. One piece of the inflation equation is the supply of money. The more money you have floating in the system the more expensive goods and services become. Unfortunately, in the near future we may begin to feel the consequences of our Federal Reserve, Congress, President, and Treasury's actions.
We'll continue to stay on top of this market and extract profits from this terrible market and cut our losses when it is prudent to do so. Capital preservation is the #1 game at the moment. We will get a new bull market at some point and we'll be ready to take advantage!
Market Speculator
Notes from Joshua Hayes:
--There were only 2 stocks making new 52-week highs (one was too thin to think of...what was the other one? RGR (Sturm Ruger). Why do you think that company is hitting a new high? BTW, while only 2 stocks made a new high, there were 1,199 stocks making a new low. This is not bullish and is ONLY bearish.
--A little good news is that the Nasdaq is developing some great RS to the SP-500 since the November lows and while the NYSE fell 7% this week the IBD 100 only fell 4.8%. This makes it possible for a possible over-sold bounce in the future. However, I would wait for a series of higher highs and higher lows before trying to play this market on the long side.
--IPOs in the past year make up 1.1% of the total stocks available on the NYSE. This is, by FAR, an all-time low. When the stock market is in an uptrend it is common to see anywhere between 4% to 7% of all issues being IPOs. The recent high happened on March 16, 2005 when 9.3% of all stocks on the NYSE were new issues in the past year. Pretty impressive! In 1999, I can honestly say it must have been around 15-20% of all stocks on the Nasdaq. So clearly we are in depressing waters since new issues are the lifeblood of growth in the stock market. The fewer IPOs the lower the gains the market will produce. 1.1% is a horrible number and if it gets below 1% it will be very upsetting.
--If this is a capitulation bottom, where is all the volume? Where is the HUGE intraday reversal? No, my friends, Friday was not a capitulation bottom.
--Right now the AAII is showing the most bears its survey has ever shown with average investors coming in at 18% bullish and 70% bearish. Bearishness is very thick, in the public arena. As for the investment newsletter writers, the same thing can be said. Bulls come in at 29.7% while bearish newsletter writers are 44% bearish. With the crowd so bearish, it must be showing up in the volatility gauges that we use, ALONG WITH PRICE AND VOLUME ACTION IN THE INDEXES, right? Wrong!
--Back on March 17, 2008 friendly (ROFLMBO) people like Sandy Wright, my accountant, and Jim Cramer were telling me to buy LEH, BSC, GS, WFC, C, BAC, and other "cheap" stocks that I was "too stupid to realize they were bargains." Since none of these people could read a chart to save their lives, I tried to figure out why they would want to go long here when, to me, CLEARLY, the market was possibly beginning to really top out and start a potential nasty bear market. It became obvious to me it was simply greed and the fact that the market was very fearful and they were all trying to be cute and catch a big move. It failed. The put/call on that date was a whopping 1.41! When the November lows came for the market in late 2008, it didn't look right, even though the VIX hit 90! Why? The put/call was still no where near 1.41. I believe it hit about 1.2 and that was it. Right now, the put/call is .93. Does this .93 put/call show the same amount of fear as the 1.41 day? Not even close. So how can this be a bottom? Let's look at the VIX first, before we answer that.
--The VIX today is a high 49 very close to the magical 50-60 range that used to indicate a bottom. That was until those November lows. In November, the VIX hit 89.53, intraday, which was the highest intraday reading since the 1987 crash. With the VIX hitting new highs it hasn't seen in over 20 years the market must be indicating enough fear in the trading to be at a low right? Not so fast. Remember, the put/call was only 1.25 at its highest and that was not higher than the 1.41 in March. Therefore, the VIX and put/call did not confirm a bottom in November just like it didn't confirm one in March.
--The NYSE, the SP 600, the SP 500, the Russell 2000, the IBD 100, the DJIA, and the IBD 85-85 all have the worst accumulation/distribution you can have with E. The only index without an E is the Nasdaq.
--The NYSE short-interest ratio is at 8.69 which is much healthier than the 17.99 it displayed right before the swoon from October to November. This is a bright spot, along with the healthy level of bearishness with the overall public, for a possible bottom. However, before you go out trying to call a bottom with anything I have listed today in my "notes," don't forget the most important ingredient in this market dish is price and volume of leading stocks and the market.
--How many beautiful max green BOP filled, heavy accumulation with low distribution filled, nice and tight green charts are there out there right now? I have the scans that find them. I can tell you. About two to three. Two to three! That's it! I should have at least two hands full of "hot" stocks starting to setup or near completing a setup, before I actually get confident in calling a bottom.
--Not only will a handful or two of "hot" stocks be required, but we MUST see leading (CANSLIM quality) stocks in leading industries setting up and breaking out or at least leading the market higher, before I ever rely on any of the indicators I spoke of above before going heavily long the market.
--The most important thing to look for a bottom, however, is the simple price and volume of the general market. When the market starts selling off on BELOW average volume (the past week EVERY DOWN DAY WAS EITHER A NASTY SELL OFF OR A DISTRIBUTION DAY) and then hits the lows and reverses on strong volume, which is then followed by another up day and then within the next 3-10 days have a very high volume accumulation day (volume needs to be higher than the day before), then and only then can we look for a bottom. If you have those three up-sessions (PLEASE, study the 2003 FTD I believe on March 17, 2003) within 4 to 11 sessions, have "hot and beautiful" green chart patterns setting up in proper chart patterns, have CANSLIM stocks moving higher or setting up in proper bases ready to breakout, have a put/call near 1.41, have a VIX near 90, and there are more bears than bulls in the two key surveys then you know we have a bottom...or at least have the potential for a real bottom. Any "potential bottom" anyone calls out there on CNBC or in the WSJ is just noise, unless everything lines up. Just remember, the most important part is the actual index and the price and volume action of that index. The put/call, the VIX, the surveys, the opinions, and anything else technicians/contrarians use to try to ID bottoms are useless, UNLESS THE PRICE AND VOLUME ACTION IN THE INDEXES AND LEADING STOCKS ARE MOVING HIGHER.
Aloha and I will be back to the "normal" routine on Monday when our Platinum subscriber Todd goes home. As subscribers know I still came in the chat room, updated the forums fully, and updated the longs and shorts pages every day, while basically on a vacation. There aren't many people that will work harder FOR YOU than me. I love you all (minus that jerk I just kicked out of my website) and hope you continue to make us much money as I am in this horrible economic environment. I HATE SOCIALISM and pray for the day when the stock market can return to normal.
top longs/(shorts) with TOTAL returns making me money TODAY: ANCI 55% (BOH 36% LLL 39% AMX 55% THG 18% CEO 38% RDK 38% GGB 68% PLCE 26% OKE 56% CFR 19% CBU 25% MOS 54% AAPL 47% WABC 15% CYT 79% GTIV 47% POT 58% RIMM 63% FSYS 44% SPG 68%)
FREE YOUTUBE VIDEO:
Another Nasty Session On Above Average Volume Rocks Stock Indexes For Sizeable Losses; Socialism = DEATH OF AMERICA! LET FREE MARKETS BE FREE!!
I believe John Ward will be posting today's pre-market commentary. Aloha!
Well, so much for that rally attempt. It was a loss of 4% or more for all the indexes. Small caps got hit especially hard. Volume ran hotter across board, too, except for the Nasdaq and Nasdaq 100 (though volume was still above average). Both the S&P 500 and DJIA hit new bear market lows. All in all, it was a nasty day.
Whether it’s GM’s auditors being concerned that Chapter 7 bankruptcy could be inevitable, or doubts about the viability of the banks, or doubts about the FDIC having the funds to guarantee the banks’ deposits, the news has been nothing short of dismal. After all, what happens when the fund that protects our deposits against bank insolvency is itself insolvent? Sheila Bair assured us not all that long ago that the taxpayer won't have to bail out the FDIC. Hmm, where have we heard that one before? She said banks, not the taxpayer, will pay to fund the FDIC. Yet, as I thought to myself at the time, how will that work if those banks are themselves insolvent! So, yes, it’s official: we are all trapped in a bad Kafka novel. Now, according to the Wall Street Journal, the esteemed senator from the great state of Connecticut, Christopher Dodd, is moving to allow the FDIC to “temporarily borrow as much as $500 billion from the Treasury Department.” You have to love that adverb: “temporarily.” Fire up those printing presses, boys!
Couple all this with what is going on with some of the public pension funds that are out there, which by law the states must guarantee, and you have the makings of a very hairy situation for the dollar indeed. This might explain gold’s perfect bounce off the 50dma today.
Meanwhile, the Obama administration is tackling threats head on; for example, Mad Money’s Jim Cramer. White House Press Secretary Robert Gibbs answered a question regarding comments Cramer made on the Today Show by, in essence, insulting him. But, in response to Gibbs saying that “the president has to look out for the broader economy and the broader population," Cramer, who I can’t believe I’m quoting, wrote quite correctly: “Only the people who have lifetime tenure, insured solid pensions and rent homes but own no stocks personally are unaffected. Sure that's a lot of people, but believe me, they aspire to have homes and portfolios. If we only want to help those who have no wealth to destroy, we are not helping the majority of Americans; we are not helping the broader population.”
So, given all that is going on, is it any great surprise that the American Association of Individual Investors comes out with a study that shows over 70% of its members are bearish, the highest reading since the index’s creation in 1987? They tell me these sorts of reports are good contrarian indicators, that extreme bearishness is actually bullish. If that is true, then why, even after a day like today, is the Put/Call ratio still under 1.00, according to Investor’s Business Daily? So don’t confuse bearishness for fear. Fear is what makes a bottom, not bearishness.
As we have repeated here at BigWaveTrading ad nauseam: Cash Is King! If you followed this advice, pat yourself on the back and thank your lucky stars. Take a gander at the returns of the top mutual funds, you’ll see what I mean. Think of it this way: a 0% return this past year puts you in the top echelon! And they say investing is hard….
John Ward (Author_Ego - chat room handle)
top shorts w/ TOTAL returns since purchase making me money TODAY: CETV 94% CEDC 88% IPHS 64% TITN 62% GTIV 45% CYT 78% CBU 24% MCY 42% GGB 67% BOH 36% CINF 22% POT 56% SDA 81% MANT 15% FSYS 17% AAPL 44% ARB 73% AMX 55% PG 28% MOS 53% OKE 56% LLL 38% CFR 18% RIMM 61% THG 17% CEO 37% SPG 66% RDK 38% CB 15% DV 16% WRB 22% K 26% PRGO 35% APD 51% CASY 34% AMSG 44%
Well, so much for that rally attempt. It was a loss of 4% or more for all the indexes. Small caps got hit especially hard. Volume ran hotter across board, too, except for the Nasdaq and Nasdaq 100 (though volume was still above average). Both the S&P 500 and DJIA hit new bear market lows. All in all, it was a nasty day.
Whether it’s GM’s auditors being concerned that Chapter 7 bankruptcy could be inevitable, or doubts about the viability of the banks, or doubts about the FDIC having the funds to guarantee the banks’ deposits, the news has been nothing short of dismal. After all, what happens when the fund that protects our deposits against bank insolvency is itself insolvent? Sheila Bair assured us not all that long ago that the taxpayer won't have to bail out the FDIC. Hmm, where have we heard that one before? She said banks, not the taxpayer, will pay to fund the FDIC. Yet, as I thought to myself at the time, how will that work if those banks are themselves insolvent! So, yes, it’s official: we are all trapped in a bad Kafka novel. Now, according to the Wall Street Journal, the esteemed senator from the great state of Connecticut, Christopher Dodd, is moving to allow the FDIC to “temporarily borrow as much as $500 billion from the Treasury Department.” You have to love that adverb: “temporarily.” Fire up those printing presses, boys!
Couple all this with what is going on with some of the public pension funds that are out there, which by law the states must guarantee, and you have the makings of a very hairy situation for the dollar indeed. This might explain gold’s perfect bounce off the 50dma today.
Meanwhile, the Obama administration is tackling threats head on; for example, Mad Money’s Jim Cramer. White House Press Secretary Robert Gibbs answered a question regarding comments Cramer made on the Today Show by, in essence, insulting him. But, in response to Gibbs saying that “the president has to look out for the broader economy and the broader population," Cramer, who I can’t believe I’m quoting, wrote quite correctly: “Only the people who have lifetime tenure, insured solid pensions and rent homes but own no stocks personally are unaffected. Sure that's a lot of people, but believe me, they aspire to have homes and portfolios. If we only want to help those who have no wealth to destroy, we are not helping the majority of Americans; we are not helping the broader population.”
So, given all that is going on, is it any great surprise that the American Association of Individual Investors comes out with a study that shows over 70% of its members are bearish, the highest reading since the index’s creation in 1987? They tell me these sorts of reports are good contrarian indicators, that extreme bearishness is actually bullish. If that is true, then why, even after a day like today, is the Put/Call ratio still under 1.00, according to Investor’s Business Daily? So don’t confuse bearishness for fear. Fear is what makes a bottom, not bearishness.
As we have repeated here at BigWaveTrading ad nauseam: Cash Is King! If you followed this advice, pat yourself on the back and thank your lucky stars. Take a gander at the returns of the top mutual funds, you’ll see what I mean. Think of it this way: a 0% return this past year puts you in the top echelon! And they say investing is hard….
John Ward (Author_Ego - chat room handle)
top shorts w/ TOTAL returns since purchase making me money TODAY: CETV 94% CEDC 88% IPHS 64% TITN 62% GTIV 45% CYT 78% CBU 24% MCY 42% GGB 67% BOH 36% CINF 22% POT 56% SDA 81% MANT 15% FSYS 17% AAPL 44% ARB 73% AMX 55% PG 28% MOS 53% OKE 56% LLL 38% CFR 18% RIMM 61% THG 17% CEO 37% SPG 66% RDK 38% CB 15% DV 16% WRB 22% K 26% PRGO 35% APD 51% CASY 34% AMSG 44%
Sunday, March 01, 2009
Nasty Selloff, On Friday, On Huge Volume, Sends Indexes Into 1997 Levels; I Feel A Nasty Selloff Coming. Hope I Am Wrong!
It was an ugly end to an ugly week and this was good news to us at BigWaveTrading.com because are long-term shorts are really starting to pay off. This can be seen by just looking below at our top short returns. As you can imagine, with our Gold longs, it was a very good week.
I think it is best for everyone to just stop listening to the media and start paying attention to your charts only. It has become very clear by looking at the "best" pundits returns for 2008 that they are the least trustworthy bunch of stock advisers that there can be. Heck even my accountant who runs a ton of stock trading accounts admitted that I had the best returns last year. So it has become very clear to me that most are doing horrible.
Not surprisingly the active investors that did the worst were daytraders. I am not shocked by that as much as the "trading advice" he was attempting to give me. Why was this shocking? Because he just admitted that he was one of "those" that lost a lot of money in 2008, yet there he is telling me, once again, how I should probably invest.
It was crazy to think that someone that lost so much buying bank stocks all year long and who just saw my GAINS FOR 2008 is telling me "the right way to trade." I asked him why he believed his way was better than mine even with the huge difference in returns. His response was, "that is what I learned in college and from reading Warren Buffett." Instead of cracking up and peeing in my pants I decided, instead, to ask him how much he has paid in "market tuition" in becoming an investor. He told me he has bought five books by Warren Buffett and "just knows to buy financials cheap." Where did he learn that? Nowhere. He created this rule in his head. If he bought bank stocks "cheap" all year in 2008, how do you think he did?...exactly. What is the point of all of this?
It's simple! Clearly he spent too much money going to college and learning how to become an accountant he said and thus would not pay for financial advice. I said, "sir, that is why you are down over 50% this year and have ruined 20 years of gains in one year." The outcome of this mess...he has to move off of Maui and I now will have a new accountant.
Folks, the honest to God truth is that if you are reading this, are not a subscriber, and our losing money currently in the market you need to go take a long look in the mirror and ask yourself if you COULD handle a 20 year bear market with losses most years. The funny thing about the members of BWT is that a LOT of subscribers did better than me last year because their long and short decisions were better timed and they went heavy in the right shorts and the few longs we had. The one thing they all had in common? NONE! of my subscribers are even 1/2 way to being down 55% like the NYSE is. NONe! And this year has even been better so far in that both our shorts are KILLING it and so are our Gold longs. Being long Gold and short the market has been a blessing for the BWT crew so far this year and I am sure by the end of the year the intelligent o'hana (family) of BigWaveTrading will be outperforming the majority of stock websites out there.
Everyone must invest in themselves. Why in the world do 95% of the American population pay more for cable bills every year over investment publications? Why do over 95% take more time thinking about the outfit they are going to wear instead of their next investment decision in the markets. NOBODY needs other people to invest their money for them unless they have less than 30 minutes a day for 5 days a week. If you have at least 30 minutes a day for five days during a seven day stretch, there is NO EXCUSE to not be running your own money. However, if you don't have that amount of time then SURE give your money to Ken Heebner.
If you have the time you have no excuse. By using that time clock I just gave you, knowing that it WILL take at least two-to-three years to do it CORRECTLY, CONSISTENTLY, AND PROFITABLY, and then at the end of this tuition period you will be able to scan, research the few that show up at night, and then enter your orders in about 1 hour to 3 hours depending on how many show up in the scans nightly is the best job in the world. Why? You have the other 21 to 22 hours of the day to do whatever you want. Even if that is daytrading, so-be-it!
I want to apologize to everyone in case there are any mistakes in this tonight. On Sunday morning I woke up to a severe! MS attack that has rendered my left hand numb completely and useless. So I did all of this with one hand and it took very long. However, everyone needs to understand that YOU WILL NOT EVER!!! make money without spending money on market advice.
When I started, by the age of 17 I was paying $200 EVERY month for access with an elite group of traders. NOT only that but at 16 I (not mommy or daddy) was paying for IBD and by 17 you could throw Telechart data into the equation. The bottom line: the more money you spend on GREAT TOOLS like Daily Graphs, Worden charts, and low cost commission houses like Interactive Brrokers, the more money that you spend to learn from the best, the better you will be. My subscribers know this and I am telling you I have NEVER seen such a correlation in portfolio performance from those that get free advice from the market and those that pay for GREAT advice. Those that pay definitely get to play and stay. Those that don't, the market and YOU know you are a joke. Very few are cut out for this but if you are going to commit to a big wave you could find no better spot.
Once again, I apologize for my Multiple Sclerosis attack. These normally take a month to pass but pray that it last just a few days. No matter what...I'll be in the chat room!
top shorts with their TOTAL returns since I went short that are making me money TODAY: CEDC 87% SDA 80% CYT 70% GGB 66% TITN 57% SPG 59% IPHS 51% APD 50% OKE 49% GTIV 35% PRGO 32% CEO 32% MCY 33% BOH 22% WRB 16% PG 24% LLL 28%
I think it is best for everyone to just stop listening to the media and start paying attention to your charts only. It has become very clear by looking at the "best" pundits returns for 2008 that they are the least trustworthy bunch of stock advisers that there can be. Heck even my accountant who runs a ton of stock trading accounts admitted that I had the best returns last year. So it has become very clear to me that most are doing horrible.
Not surprisingly the active investors that did the worst were daytraders. I am not shocked by that as much as the "trading advice" he was attempting to give me. Why was this shocking? Because he just admitted that he was one of "those" that lost a lot of money in 2008, yet there he is telling me, once again, how I should probably invest.
It was crazy to think that someone that lost so much buying bank stocks all year long and who just saw my GAINS FOR 2008 is telling me "the right way to trade." I asked him why he believed his way was better than mine even with the huge difference in returns. His response was, "that is what I learned in college and from reading Warren Buffett." Instead of cracking up and peeing in my pants I decided, instead, to ask him how much he has paid in "market tuition" in becoming an investor. He told me he has bought five books by Warren Buffett and "just knows to buy financials cheap." Where did he learn that? Nowhere. He created this rule in his head. If he bought bank stocks "cheap" all year in 2008, how do you think he did?...exactly. What is the point of all of this?
It's simple! Clearly he spent too much money going to college and learning how to become an accountant he said and thus would not pay for financial advice. I said, "sir, that is why you are down over 50% this year and have ruined 20 years of gains in one year." The outcome of this mess...he has to move off of Maui and I now will have a new accountant.
Folks, the honest to God truth is that if you are reading this, are not a subscriber, and our losing money currently in the market you need to go take a long look in the mirror and ask yourself if you COULD handle a 20 year bear market with losses most years. The funny thing about the members of BWT is that a LOT of subscribers did better than me last year because their long and short decisions were better timed and they went heavy in the right shorts and the few longs we had. The one thing they all had in common? NONE! of my subscribers are even 1/2 way to being down 55% like the NYSE is. NONe! And this year has even been better so far in that both our shorts are KILLING it and so are our Gold longs. Being long Gold and short the market has been a blessing for the BWT crew so far this year and I am sure by the end of the year the intelligent o'hana (family) of BigWaveTrading will be outperforming the majority of stock websites out there.
Everyone must invest in themselves. Why in the world do 95% of the American population pay more for cable bills every year over investment publications? Why do over 95% take more time thinking about the outfit they are going to wear instead of their next investment decision in the markets. NOBODY needs other people to invest their money for them unless they have less than 30 minutes a day for 5 days a week. If you have at least 30 minutes a day for five days during a seven day stretch, there is NO EXCUSE to not be running your own money. However, if you don't have that amount of time then SURE give your money to Ken Heebner.
If you have the time you have no excuse. By using that time clock I just gave you, knowing that it WILL take at least two-to-three years to do it CORRECTLY, CONSISTENTLY, AND PROFITABLY, and then at the end of this tuition period you will be able to scan, research the few that show up at night, and then enter your orders in about 1 hour to 3 hours depending on how many show up in the scans nightly is the best job in the world. Why? You have the other 21 to 22 hours of the day to do whatever you want. Even if that is daytrading, so-be-it!
I want to apologize to everyone in case there are any mistakes in this tonight. On Sunday morning I woke up to a severe! MS attack that has rendered my left hand numb completely and useless. So I did all of this with one hand and it took very long. However, everyone needs to understand that YOU WILL NOT EVER!!! make money without spending money on market advice.
When I started, by the age of 17 I was paying $200 EVERY month for access with an elite group of traders. NOT only that but at 16 I (not mommy or daddy) was paying for IBD and by 17 you could throw Telechart data into the equation. The bottom line: the more money you spend on GREAT TOOLS like Daily Graphs, Worden charts, and low cost commission houses like Interactive Brrokers, the more money that you spend to learn from the best, the better you will be. My subscribers know this and I am telling you I have NEVER seen such a correlation in portfolio performance from those that get free advice from the market and those that pay for GREAT advice. Those that pay definitely get to play and stay. Those that don't, the market and YOU know you are a joke. Very few are cut out for this but if you are going to commit to a big wave you could find no better spot.
Once again, I apologize for my Multiple Sclerosis attack. These normally take a month to pass but pray that it last just a few days. No matter what...I'll be in the chat room!
top shorts with their TOTAL returns since I went short that are making me money TODAY: CEDC 87% SDA 80% CYT 70% GGB 66% TITN 57% SPG 59% IPHS 51% APD 50% OKE 49% GTIV 35% PRGO 32% CEO 32% MCY 33% BOH 22% WRB 16% PG 24% LLL 28%
Saturday, February 28, 2009
Obama's Budget Proposal Frieghtens the Market Squashing Early Morning Stock Gains
by Market Speculator
"A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned - this is the sum of good government." - Thomas Jefferson
Looking across the blogosphere and media outlets one might have expected a relief rally. Logic and indicators pointed to an oversold market. Thursday's action began positive, traders were getting behind the idea of we could rally. Obama's budget proposal was set to be released during the morning hours of the market. During the 2008 Presidential Campaign Obama pledged to reduce the operating budget deficit; traders were expecting to see Obama to adhere to his campaign promise. However, upon the release of the budget the market began to sell off. There were no improvements to the budget deficit, but it was ballooned to a tune of $1.75 TRILLION dollars. In addition to the budget deficit the proposal ATTACKS healthcare providers effectively squashing future profit potential. The market is not to be argued with, it is foreshadowing troubled times its best we pay attention.
In Tuesday's market wrap I mentioned the Equity Put/Call ratio and how it was signalling complacency. It continues, the equity put/call remains near lows as the market remains near its lows. Alongside the put/call ratio the VIX index is showing how the selling is not sparking any FEAR in the market. Even short term bottoms will have these indicators showing SOME level of fear. Not this time, sellers are complacent and it shows there is high level of hope that this market rallies in the near term. If we are able to lift off the lows it will be a weak move.
The biggest thing YOU can do is to make sure you paying down your debt and keeping cash on hand to pay for groceries. As for this market, we are finding ways to make money. Whether it be long or short we are still making gains.
Gold and silver are pulling back and consolidating from an impressive move higher. Fears regarding the world's economy and the confidence the world has in its available currencies has gold/silver bulls out. History has shown when confidence is lost in a fiat currency gold and silver are sought after as a safe haven. Once confidence is lost a mass exudos occurs from the paper currency to precious metals. So far, it appears we are headed down the path of a dollar crisis.
GDP numbers for the fourth quarter are set to be released this morning. It'll be focal point for the market as it opens. I'm afraid, regardless of the annualized figure it will not cure what ailes this economy. Cutting spending and taxes is the step in the right direction.
Enjoy the remainder of the work week and have an enjoyable weekend.
M.S.
Top longs/(shorts) with TOTAL returns making me money TODAY: ANCI 59% (TITN 56% GTIV 19% CPRT 23% GGB 64% CEO 31% OKE 48% APD 49% ARB 73% WRB 15% K 22% LLL 25% RDK 33% PG 23% RIMM 60% MCY 32% AMSG 37% PLCE 33% SPG 60% IPHS 51% CYT 70% SDA 80% PRGO 31% FSYS 17% CASY 30% CEDC 86% AAPL 44% AMX 53% CETV 93%)
FREE YOUTUBE VIDEO:
Wednesday, February 25, 2009
Two Very Nice New Longs On Today's Down Day May Hint To An Oversold Bounce; The Trend Is Still Down, Down, Down, Down
Overall it was a negative day, of course, with the markets down around a little over 1%. However, the SP 600 lost almost 2.5% and the IBD 100 full of leading stocks fell 1.4% showing that the leading stocks and small-cap stocks that usually lead new bull markets. So the fact that they weaken worse than the overall market when people are talking about a supposed bottom really leaves me scratching my head.
There is some good news for bulls however in that, for the first time since this downtrend got started, I actually had a significant down day with zero new possible shorts and two new longs. Not only that one long is a CANSLIM quality champ and the other is in the leading mining-gold/silver stocks industry. So these two championship longs showing up in a day where the market loses over 1% is pretty impressive. However, honestly, without a ton of volume in the market, the gains are not "really" that impressive. It is what it is.
If this was a raging bull market like 1995, 1998, 1999, and 2003 that I have witnessed or participated in, I would have no problem jumping up and down saying GET LONG THIS STOCK IN BULK as the odds would be well in our favor. Right now, it should be very obvious to all of those out there, besides the few crazy daytraders that can actually trade this market and make money ON A CONSISTENT BASIS--this one day lucky stuff doesn't cut it with me and I will never take you one day wonders seriously. It is the long term that will ALWAYS count--most investors should be fully in cash or have only small long gold or small short the market positions.
Overall it was a dull day with higher volume and signals a lot of action in the churning arena. A lot of firms are flipping shares around creating what looks like a market but it is obvious from watching one day drops of 21% after a stock takes 6 months to rally 10% is not a market where everyone is at home. Someone has fallen asleep at the wheel and something needs to be done. I like the idea of going back to a pre decimal period, end regulation FD, and stop the program trading. End this and we would see a very efficient market come back. However, my final recommendation would actually HURT ME IN MAKING MONEY WHICH PROVES IT IS THE MARKET I CARE ABOUT AND NOT MY POCKET: the whole process of having no uptick is insanity. There needs to be an uptick rule and the rule should be put back. The market used to have a way of working that seemed honorable. Now it is hard to honor and chart when you know something could come out tomorrow that kills it. It is such a different world out there but even though the world is changing one thing will always remain the same:
CAN SLIM® System Is #1 Growth Strategy From 1998 Through 2008. An 11-year, independent study by the American Association of Individual Investors found IBD's CAN SLIM Investment System gained +1,351.3% while the S&P 500 dropped -6.9%.
Why in the heck is anyone reading this using ANY OTHER type of methodology. Why are you not joining me in MASTERING the GREATEST methodology out there for making money in the stock market YEAR-IN-AND-YEAR-OUT! Not just one lucky fluke trade every three years. A real living. An honest fun living.
Have a great intraday most of you and for my subscribers I will see you all near the last three hours to the closing bell, tomorrow! Great luck out. Let's make more money. I might have lost my total 10% return this year but compared to the SP 600's 21% loss, I guess I can chalk up the first two months to the win column. ALOHA and see you in the chat room!
top longs/(shorts) with TOTAL returns making me money TODAY: ACNI 57% (CPRT 23% CASY 28% POT 49% K 21% SPG 57% MCY 30% AMX 54% BOH 22% CEO 30% TITN 56% CYT 69% LLL 23% AMSG 27% APD 49% ARB 72% PLCE 30% IPHS 49% CETV 92% CEDC 85%)
FREE YOUTUBE VIDEO:
There is some good news for bulls however in that, for the first time since this downtrend got started, I actually had a significant down day with zero new possible shorts and two new longs. Not only that one long is a CANSLIM quality champ and the other is in the leading mining-gold/silver stocks industry. So these two championship longs showing up in a day where the market loses over 1% is pretty impressive. However, honestly, without a ton of volume in the market, the gains are not "really" that impressive. It is what it is.
If this was a raging bull market like 1995, 1998, 1999, and 2003 that I have witnessed or participated in, I would have no problem jumping up and down saying GET LONG THIS STOCK IN BULK as the odds would be well in our favor. Right now, it should be very obvious to all of those out there, besides the few crazy daytraders that can actually trade this market and make money ON A CONSISTENT BASIS--this one day lucky stuff doesn't cut it with me and I will never take you one day wonders seriously. It is the long term that will ALWAYS count--most investors should be fully in cash or have only small long gold or small short the market positions.
Overall it was a dull day with higher volume and signals a lot of action in the churning arena. A lot of firms are flipping shares around creating what looks like a market but it is obvious from watching one day drops of 21% after a stock takes 6 months to rally 10% is not a market where everyone is at home. Someone has fallen asleep at the wheel and something needs to be done. I like the idea of going back to a pre decimal period, end regulation FD, and stop the program trading. End this and we would see a very efficient market come back. However, my final recommendation would actually HURT ME IN MAKING MONEY WHICH PROVES IT IS THE MARKET I CARE ABOUT AND NOT MY POCKET: the whole process of having no uptick is insanity. There needs to be an uptick rule and the rule should be put back. The market used to have a way of working that seemed honorable. Now it is hard to honor and chart when you know something could come out tomorrow that kills it. It is such a different world out there but even though the world is changing one thing will always remain the same:
CAN SLIM® System Is #1 Growth Strategy From 1998 Through 2008. An 11-year, independent study by the American Association of Individual Investors found IBD's CAN SLIM Investment System gained +1,351.3% while the S&P 500 dropped -6.9%.
Why in the heck is anyone reading this using ANY OTHER type of methodology. Why are you not joining me in MASTERING the GREATEST methodology out there for making money in the stock market YEAR-IN-AND-YEAR-OUT! Not just one lucky fluke trade every three years. A real living. An honest fun living.
Have a great intraday most of you and for my subscribers I will see you all near the last three hours to the closing bell, tomorrow! Great luck out. Let's make more money. I might have lost my total 10% return this year but compared to the SP 600's 21% loss, I guess I can chalk up the first two months to the win column. ALOHA and see you in the chat room!
top longs/(shorts) with TOTAL returns making me money TODAY: ACNI 57% (CPRT 23% CASY 28% POT 49% K 21% SPG 57% MCY 30% AMX 54% BOH 22% CEO 30% TITN 56% CYT 69% LLL 23% AMSG 27% APD 49% ARB 72% PLCE 30% IPHS 49% CETV 92% CEDC 85%)
FREE YOUTUBE VIDEO:
Monday, February 23, 2009
Ugly Day For The Stock Market Equals A Big Money Making Day For BigWaveTrading.com; Gold, Silver, Platinum, and Shorts
Today was sure one ugly day for the market as indexes fell hard across the board. About the only thing positive you can say is that volume was lighter. However, when stocks are falling almost 4% I am not sure volume is that important.
What is important is that the market is proving those that were patient and held shorts while the low volume rally occurred were right. I now have many many many shorts up over 50% in short amounts of time along with new shorts already up 15%+ in many issues. What makes this EVEN BETTER is that gold stocks and the commodities of gold, silver, and platinum are rocking it. Not only that, but the rest is in cash sitting safely ready to pounce on the next round of leaders if and when they setup.
Basically I would have to say that Friday and Monday have been home runs for yours truly and I have almost already returned my total return for last year. This tells me that the market is getting some sense back with it, even if it is not rewarding leading growth-stock investors yet. It is still rewarding those that know how to get long the right leading stocks at the right time. Whoever said you can't time the market must not have EVER learned about CANSLIM.
Speaking of CANSLIM, I feel it is very important to post something I read this morning when I returned from Waikiki, O'ahu:
CAN SLIM® System Is #1 Growth Strategy From 1998 Through 2008. An 11-year, independent study by the American Association of Individual Investors found IBD's CAN SLIM Investment System gained +1,351.3% while the S&P 500 dropped -6.9%.
If some of you have been reading me for years, have seen the returns of my 'past big winners' in my longs section, have seen these returns by IBD over the past 11 years, and see my returns now on my current shorts:
top shorts with TOTAL RETURNS making me money TODAY: MOS 58% GGB 67% SPG 61% CEDC 84% POT 52% CYT 70% MCY 32% APD 48% TITN 57% CASY 29% FSYS 15% IPHS 50% CETV 92% AMX 53% OKE 47% PRGO 28% SDA 80% AAPL 45% RIMM 62% CINF 15% LLL 23% BOH 24% RDK 32% PG 23% CPRT 24% WRB 16% ARB 72% PLCE 30% CEO 32%
..and then let's not forget my Gold ETFs and my gold long in ***. There is another 27% gain in one month, when most are losing money.
If you are not a bigwavetrader yet, I am not sure why. My returns during the past bull market were better than the CANSLIM system which was ranked #1 out of 56 so that would put me #1 out of 57 and my current short returns I am pretty sure are destroying most that I see out there. Usually I am real humble. But after having back to back days with over 5% gains when the market is down 5% the past two sessions on the NYSE, I think I deserve to toot my own horn. If I don't do it, God knows no one else will. How can I be so consistently right yet go no respect by the major media. I guess you have to be a slave to OPM to get those gigs. ;) At least those of you with me know that when the bear ends and the bull begins we will all become very wealthy and will be at the top of the pile when this bear market gets done destroying this economy. Thanks SPENDINGULUS bill!
FREE YOUTUBE VIDEO:
What is important is that the market is proving those that were patient and held shorts while the low volume rally occurred were right. I now have many many many shorts up over 50% in short amounts of time along with new shorts already up 15%+ in many issues. What makes this EVEN BETTER is that gold stocks and the commodities of gold, silver, and platinum are rocking it. Not only that, but the rest is in cash sitting safely ready to pounce on the next round of leaders if and when they setup.
Basically I would have to say that Friday and Monday have been home runs for yours truly and I have almost already returned my total return for last year. This tells me that the market is getting some sense back with it, even if it is not rewarding leading growth-stock investors yet. It is still rewarding those that know how to get long the right leading stocks at the right time. Whoever said you can't time the market must not have EVER learned about CANSLIM.
Speaking of CANSLIM, I feel it is very important to post something I read this morning when I returned from Waikiki, O'ahu:
CAN SLIM® System Is #1 Growth Strategy From 1998 Through 2008. An 11-year, independent study by the American Association of Individual Investors found IBD's CAN SLIM Investment System gained +1,351.3% while the S&P 500 dropped -6.9%.
If some of you have been reading me for years, have seen the returns of my 'past big winners' in my longs section, have seen these returns by IBD over the past 11 years, and see my returns now on my current shorts:
top shorts with TOTAL RETURNS making me money TODAY: MOS 58% GGB 67% SPG 61% CEDC 84% POT 52% CYT 70% MCY 32% APD 48% TITN 57% CASY 29% FSYS 15% IPHS 50% CETV 92% AMX 53% OKE 47% PRGO 28% SDA 80% AAPL 45% RIMM 62% CINF 15% LLL 23% BOH 24% RDK 32% PG 23% CPRT 24% WRB 16% ARB 72% PLCE 30% CEO 32%
..and then let's not forget my Gold ETFs and my gold long in ***. There is another 27% gain in one month, when most are losing money.
If you are not a bigwavetrader yet, I am not sure why. My returns during the past bull market were better than the CANSLIM system which was ranked #1 out of 56 so that would put me #1 out of 57 and my current short returns I am pretty sure are destroying most that I see out there. Usually I am real humble. But after having back to back days with over 5% gains when the market is down 5% the past two sessions on the NYSE, I think I deserve to toot my own horn. If I don't do it, God knows no one else will. How can I be so consistently right yet go no respect by the major media. I guess you have to be a slave to OPM to get those gigs. ;) At least those of you with me know that when the bear ends and the bull begins we will all become very wealthy and will be at the top of the pile when this bear market gets done destroying this economy. Thanks SPENDINGULUS bill!
FREE YOUTUBE VIDEO:
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