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Tuesday, October 14, 2003
Good evening friends,
A relatively calm day in the markets as everyone waited for the INTC news after the bell.
The markets started off the day lower and then bounced back throughout the day and made a final dash toward the highs in the last hour when the smart money got the early word that the news would be good coming from INTC. They always seem to know before the dumbobarries and position themselves for the gap up the next day. I didn't listen to the CC because I was watching the ball game so I don't know what was said but judging by the numbers, this news should gap the markets up in the morning. Hopefully, this news will be good enough to make an attempt to get close to that NASDAQ 2000 I've been calling for. It should come very close to it tomorrow if the conference call was as good as the numbers were. Of course they could always “sell the news” as they say. The market can be strange at times and we could very well sell this good news off but I don't think so. We'll just have to see what happens in the morning. If there is a big rally, we are loaded with plenty of stocks.
The Bulletin has more open positions now then it ever had before and looks like the timing of this buying is working in our favor. It comes right as INTC releases great numbers so we are now in position to reap the benefits of being long what I think will be a strong year end rally. These numbers from INTC should confirm this thought.
As we look at our Bulletin stocks tonight, we see many of them made 52-week highs again today; they include NENG, ELC, FNSR, OPLK, BKHM, CVM, TLCV, AUDC, and WBR. There are 3 in particular I want you to pay close attention to and review what I said in last nights comment section. They are BKHM, TLVC, and WBR. When you've been doing this long enough, you can almost predict the precise day a stock will break out. I said today would be the day for these three but I'm not always right, I did think today would be ECGI's day also and that didn't happen. But as long as I'm right more then I'm wrong and you are using the 10% rule, we are going to make a lot of money together in this market.
Check out the great new feature on the website. Mike has come up with another gem called the ‘All Tickers' link. This link has a list of all stocks in alphabetical order with all previous comments I've made on each stock - a history of the comments section. We must also give credit for this idea to Subscriber Brian York. He was the winner in the new Bulletin format contest awhile ago and this comments history was in his version of the bulletin spread sheet. We couldn't use the spreadsheet on the website so Mike took his idea and made it happen another way. Please thank Brian and Mike for this new feature; I think you'll enjoy this very much.
I have no new stocks tonight because of the news from INTC. This could cause a strong gap up in the morning and I'm not going to chase any new stocks tomorrow. What matters right now is, we are long plenty of stocks and will be taking full advantage of this good news with what we already own. Right now, I'm 35% cash and I want to keep some money available for new stocks that I see setting up. Eventually we will be 80-100% long. I have on occasions gone on margin; I don't do that until I know it's safe to be long the market. We are getting very close to being safe IMO and this INTC news tonight is the best news all year. I think the Bull has arrived and he's very p!ssed off at the bears for what they did to the market over the last 3 years. Paybacks are coming and the bears are going to have their heads served to them on silver platters if they don't watch out. In Sunday's bulletin, I said I thought this week would be a great week; looks like it will be in deed. Remember that tomorrow is an abbreviated Bulletin due to my travel plans. Thursday night a full bulletin will be issued. No charts tonight, we'll have enough to watch tomorrow. Go Intel, Go Yankees. I'll see you all Wednesday night
* REMINDER- I am coaching in a fall baseball tournament in Nevada on the 16-18 Oct. It's a five-hour drive so I will be leaving Wednesday night the 15th. Because of this, only a quick Bulletin will be issued the 15th. I will issue a full Bulletin from Nevada Thursday evening from the hotel providing I have connection. If not, there will be no Bulletin for that night. I will not be on the boards Thursday or Friday the 16th and 17th but will view all posts in the evenings from the hotel. This is the final baseball tournament of the season.
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