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Wednesday, October 22, 2003
Good evening friends,
Lets start off today with a little multiple-choice question.
What's uglier?
A- Today's market sell off
B- Clovis, New Mexico
C- A newborn baby. (About 3 minutes old)
D- Allen Greenspan
E- Pizza Driver
LOL. Just trying to lighten things up a little folks. I hope I don't offend anybody with the choices; It's all in fun. Oh by the way, your answer better not be ( E ) LOL.
Well, all I can say about today is, tomorrow is another day. That's about the size of it.
Of course, if you are 100% cash like our admin guy Mike Tojo, you love these kinds of days. Mike, how'd you know man? Clue us all in. Seriously, this is a pretty good sell off, no doubt about it but these will happen from time to time in a Bull market and that is why you need to remain with at least some cash on the side lines to be able to use on these pullbacks.
For instance, I made only one-day trade today but it was a very good one. I bought IVAN at 2.98 (about the time I sent out the alert with the link to the chart). I sold it within an hour or so for 3.48. This is why you need to have some cash available at all times. I've explained before why I don't send alerts on stocks I know I will sell the same day. I want to find a way to get around this and give you all notice of stocks I'm looking at for day trading. Sometimes I never know until the minute I do it like today when I saw IVAN gapping down to the trend line. I got lucky and noticed it and took advantage of it, it doesn't always happen that way. I just haven't figured out how to get the word out to you all without risking the integrity of the service. As I said before, I don't want to risk anyone perceiving this to be a pump and dump service. I try to take money out of the market everyday and most of the time, I'm successful. I would like to bring my loyal subscribers in on this action but I'll have to do a little thinking on how best to do this. I'm sure we can come up with something in the future.
Believe it or not, I did find two Bulletin stocks today making new 52-week highs - SIRI and EVCI. Both of these stocks are looking real good here. Because of today's market action, very few stocks are showing up in my scans but I did manage to find a little Gold stock looking good and I have it for you tonight on the spreadsheet.
A lot of you are interested in earnings so I have a link to an earnings calendar for you tonight. Click this link to see if your stocks report earnings tomorrow.
http://biz.yahoo.com/research/earncal/20031023.htm...
I'll see you all Thursday night. |
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