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Wednesday, October 15, 2003
Good evening friends,
If you're shocked at today's developments in the markets you're not alone. “Sell the news” was the understatement of the day friends. What happened today in the market just doesn't make any sense; I don't know what other way to put it. Every piece of news that has come out in the last 24 hours was not only good, it was fantastic. Even the beige book release at 2 PM EST was very good news but failed to prompt any buying. None of it makes sense at all and that is what makes a market. The stock market loves to fool the majority and it did just that again today. I'm confident with our current positions, even though the market was playing games with our heads today. I really wanted to bring you good news in this brief bulletin tonight but unfortunately because of today's action, I can't. I will leave you with this thought, our stocks have great chart patterns and things will get better going forward I'm sure. The news today suggests there is every indication that the Bull is back. Hang in there, I'm leaving town soon with no protective stops in place. This should tell you my stance on the current market. Hopefully, when I return to my hotel room each night, I'll have a nice surprise in the bottom line of my portfolio. That's it for tonight's abbreviated bulletin. I have no new stocks or charts for you tonight and have made limited updates to the bulletin stocks due to my travel plans. I will not be available on the message board tomorrow and Friday and will not be trading or sending any alerts those two days. I will however be back tomorrow night with a full Trade Bulletin. If you must trade, most of the stocks on the Bulletin are solid right now. I'll see you all Thursday 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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