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Tuesday, October 28, 2003
Good evening friends,
A tremendous rally today in the markets as both the NASDAQ and DOW finished on the highs of the day. The Fed's decision to leave rates alone was the spark this market needed. At first it looked as though the Fed would be a non event as there was little reaction to the news when it first came out. But by the end of the day, it became clear this is what the market wanted to hear. Smart money started buying late in the afternoon and into the close, which is what I always like to see.
I bought a couple stocks today based on buy points I had in the Bulletin. I bought EVCI at 4.01 which closed the day at 4.30 on very good volume. This is the type of break out I like to see. When a stock explodes through the buy point and proceeds up on volume and closes the day near its highs, you know you have the beginnings of a nice run coming. I also bought ARTX at the buy point 1.76.
Late in the day, I followed through and bought EAG on the volume break out above 0.65. I had been watching this stock since our friend Annie mentioned it to us last week - good call Annie.
IVAN is rocking on all cylinders right now. You may ask why I haven't been selling stocks much lately and this is the reason why. I first had IVAN on this Bulletin when it was 1.00; my first buy was when it was at 1.60. I've traded the stock and made good money getting in and out but I could have made much more just holding it. This is the life of a trader; it has its ups and downs like everything else. Some stocks you find, you just wish you had sold. They run fast and you have the urge to lock in profits. That's' good when the stock falls and you feel good that you got out when you did. But when it runs and leaves you behind, you are left scratching your head and asking yourself “why did I sell that winner”? In the case of IVAN, I said many times I would hold it for the long term but yet I sold it. HEC is in the same group so I am trying to hold that one in hopes it trades near IVAN's current price next spring, giving us our ten bagger. If we hold, you never know what it can do. IVAN was trading less then a buck 6 months ago. So this is why I hold HEC right now.
Other sub $1.00 stocks I thought would run were PMU, BCON and WBR and I hold those because I think they can each run above $1.00 in the future. You can't make the big money selling every 10% gain but if you do it consistently, it turns into big money. With these stocks you have an option, you can trade the 10% moves or you can hold and take a chance on a real runner. All the stocks I have on the bulletin are good for both options. Only you can decide if you want to trade them or hold them. I hold more now then I did 6 months ago because 6 months ago, I didn't know we were in a bull market. The market was on shaky ground and I was selling every run up I had in a stock. The market is different now. I believe we are in a bull market, and in a bull market you want to hold stocks longer for bigger returns. I have a lot of stocks to get to tonight. With this move today, there are many stocks I want to look at tonight so let's get to the charts. I'll see you all Wednesday night.
Earnings Calendar.
http://biz.yahoo.com/research/earncal/20031023.htm...
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