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Sunday, September 07, 2003
Good evening friends,
It's great to be back folks and by the looks of my bottom line, looks like it was safe holding our stocks through the week I was absent from trading. I was very confident that the market was going to go up while I was away and thus I took the chance in holding my positions. My long positions did very well and my short positions didn't hurt me in this market rally. You know you have good shorts when they fail to go up with the market. These shorts I have are keepers IMO, but lets not talk short right now. We are in a bull market and we want to be long for sure. I didn't think it would take long for the NASDAQ to reach 2000 once it got over 1700 and we are on our way to that level. We will need to rest a bit but the move will continue you can bet on it. As I look at the Bulletin, I see many stocks that are at or near new 52-week highs. Just Friday alone we had 12 stocks on the Bulletin making new highs, they were, NOOF, FLDR, AVNX, KRY, BGO, CBJ, DIGI, TRPH, CDE, EGO, NENG and WHT. I told you before I left, that certain small cap tech and most precious metal stocks were looking very strong and I didn't feel comfortable selling them because I felt their runs were not over. Turns out, I was correct in holding them. TGEN and ASTM rocketed up as I predicted and I missed these moves as I predicted I would. TRPH has moved up over 100% from the buy point and I was taunting you to get this one before I left. I mentioned PROX, NOOF and BEAV were ready to move up big and they did last week. FLDR and AVNX were very strong last week as well and of course we can't forget VRSO and NENG, stocks I've been telling you to get long for a number of weeks now. Last but not least, the strongest group in the market, the precious metals stocks are at or close to their 52-week highs like KRY, BGO, CBJ, CDE, WHT, EGO and HL. These have all been on the Bulletin and I have been saying to get these over and over. We have to be in the strongest sectors if we want to out perform the market and right now the strongest sector is mining. I also think Natural gas is going to be a great sector going forward so I am starting to look at stocks in that sector. Financials and health care continue to be weak so I will short more in these sectors as we go forward. I told you when we started this venture that 400% gains in a year are very hard to do but not impossible. It's not impossible because I have done it before. I have made over 400% twice before in one year and I think we have a good shot at doing it again this year (19 May 03 – 18 May 04) is our year and so far we are up 84% YTD in just less than 4 months. If we close out some more trades on winners we already have, our gains will be close to 100% since we started, remember, I only count closed trades when calculating our percentage gains. We are on pace to make 300% this year and that includes trading in the flat summer months when not many average investors make anything at all. We made close to 100% over the summer so imagine what we can make when the Bull really starts running. NASDAQ 2000 is coming but will it turn back once there? We will have to see because it has a lot of resistance at that level. If it breaks through it, then we have an opportunity to become very wealthy in 2004. I have many charts tonight and ten new stocks to add to the Bulletin. We have too many stocks to watch but if the market is going to give them to us then we can't let them slip away. We must watch them all, it's a little more work but if you don't work now, then you miss opportunity and I don't like to miss anything. Glad to be back friends and I'm ready to trade. I may take some profit on half of some of my positions in tech tomorrow. This is not because these stocks are done, but I just have to lock some profit in and look to buy them back on weakness. If I thought the run was over, I'd sell my whole position but it's not so I keep half. No selling any of the metals, that group is a keeper for now. I'll see you all Monday night
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