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Thursday, November 13, 2003
Good evening friends,
The Dow dropped briskly at the open but battled back throughout the day to close only 10 points down. Not bad for being down over 50 at one point during the day. The NASDAQ had a very tight trading range of only 15 points but the good news on this index is that it closed higher then it opened today and that is a good sign. Bulletin stocks making new 52-week highs today included CKSW, OPCI, CAU, PMU, EPNY, TWAV, SCKT and ITIG.
Tomorrow will be a light trading day for me because I am trying to figure out the direction of this index before committing more cash to the market. I have sold many stocks these past few days and have raised a lot of cash. I was almost 100% long and out of cash a couple weeks ago, now I'm about 50/50 at this point. I like to be as close to 50/50 as I can be when I don't know what direction the market is headed.
I have a chart tonight of the NASDAQ so you can see why I am a little concerned. I also have a chart lesson tonight on a couple past Bulletin stocks so you can see why we buy, why we sell and why our timing isn't always perfect. They say women tend to hold stocks longer then men and I believe it. I've never been one to hold stocks for long. I always want to cash in on the profits when I get them. I'm here to say, although this does work, it can also go against you in a Bull market. I've said it many times before so I won't beat a dead horse. I am happy with my profits, but there are some stocks I let get away and should have held. Most were under 1.00 at one time.
I have a chart of VTIV tonight but this one isn't quite that drastic. I never owned it below a buck but we did own it right here on the Bulletin back in July and at the time it was trading about 5.40. Today VTIV traded over 10.00 on 10X average volume (record volume at that). There must have been good news out. I think one of our female subscribers, who is a very patient woman, still owns the stock. Congrats to her and anyone else still holding this winner.
I make the point above because even though we change stocks on the Bulletin frequently, please don't lose sight of these stocks that get removed. A lot of times, they'll come right back in a few weeks and sometimes just days. XLA is another example of a more recent stock we had around 1.80 just a couple weeks ago and today it traded up to 3.85. Every stock that makes the Bulletin is there for a reason; it's most likely going to go up. Sometimes I'm early and we get shaken out, but for the most part, after the shakeout it's going to go back up. We can't time everything correctly 100% of the time. Volume is a great indicator of future direction. A stock going up on volume will continue up eventually. It may pullback slightly on lesser volume and this is a telltale sign of higher prices. This works the same in reverse, with stocks going down on high volume sell off's. They'll get a few days of rally on lesser volume from being over-sold and then right back down again they go. Don't expect much from LOUD because of this very reason. LOUD has become a tax write off trade at the end of the year at this point. I don't expect to get our money back from that trade.
We do lose a few now and then but our over all performance will continue to out perform the market. With today's closed trades on some Bulletin stocks, we are now up 154% in a little less then 6 months. We are on pace to achieve our goal of 300% in 1 year. Have a great weekend everyone I'll see you Sunday evening.
Flash back June 26th Bulletin
Open Trade TRAC .80 6/26/03 Comments = Believe me pay day is near.
This stock proceeded up to a high of 3.18 after that comment. Almost a 300% gain
Earnings Calendar.
http://biz.yahoo.com/research/earncal/20031023.htm...
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