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Sunday, December 28, 2003
Good evening friends,
I hope you all had a wonderful Christmas and a nice little break. Now it's time to get back to work. There are just 3 days left in the trading year and we have 15 open positions. That is too many open positions going into the first week of the New Year. As I look at these open positions, I see there are only 3 losers that we need to sell for tax losses - not that bad really. They are: TVIA, AXO and ARTX. There isn't much volume on these stocks normally so I will issue an alert before my sale is complete. That way if you are holding these stocks you won't have to wait for my entire position to fill before you get the alert. I'll sell these 3 for tax loss purposes, they are the only trades I'm not happy with at this point and must sell this week. The other 12 positions are still in good shape with the possible exception of EAR. I bought this stock a little too early on the pullback. It has failed to stay above the 9 DEMA and could be rolling over. The chart has damage so we may sell it too.
The other positions still look good for now. I may trim some of those going into the New Year even though the charts look good. I want to have some cash in case there is a sell off in the first week of January. Having said that, there are some stocks that I plan on keeping for a while so don't expect a sell alert on the following stocks, HEC, EAG, PQUE, BCON, ISO, TGA and VLGC. I will not sell these unless they sky rocket and we have an enormous gain or the chart completely breaks down. I would like to go into the New Year with these stocks as our core holdings. I believe they all have potential to be big winners in 2004. Because we have so many open positions, I will not open any new positions this week unless it is one of the existing bulletin stocks on the watch list such as EGOV and TRPH. These stocks look good and I may buy them this week. I will not buy any new stocks that we may add to our list this week unless I feel we just absolutely have to own them. I want to clean up our portfolio and get ready for a new year of trading.
New Year's Resolution
I would like you all to make New Year's resolution. Make this year the year you learn all you can about trading stocks so that next year (if you wanted) you could fire your boss and trade for a living. Use the disciplined approach we try to stress here at TWPD to limit your losses and let your winners run. Each individual must make a list of rules to follow when trading and stay with them. The rules are different for each individual depending on your risk tolerance. But the two rules listed next are the two most important rules and should be followed by everyone no matter what:
1. No more then 10% of your capital in any one position, and
2. Cut your losers to no more then 10% loss.
These are the two rules you cannot deviate from. If you follow these two rules, you'll make money in the market. Here is a tool to help you - make a trading journal and record all your trades and why you bought or sold. Don't just write in your journal “I bought XYZ today because PD sent an alert”. You won't learn anything writing that. Instead, write why you bought the stock. What did the chart look like? What indicators were flashing a buy or sell signal? By writing in your journal, you can see what trades are doing well and why. You will also see where you are going wrong when you lose a trade. Keeping a journal can help you to avoid making the same mistakes over and over again and help you to identify the reasons a stock did well after you bought it. These trading journals are invaluable tools that will help you become a better trader.
Our Trade Record
We didn't get a full year of trading in this year because our service is only 7 months old but in those first 7 months we accumulated a 170% return for our subscribers. We look forward to serving you for a full year of trading in 2004 and we are very happy you are with us.
Thank-you!
I'd like to take this time to thank each and every one of you for your support in this our first year together, thank-you all so very much, I truly enjoy serving you and helping you learn this business. I look forward to all of you learning to become better traders/investors and having another successful year in the stock market; we'll do it together like we have for the last 7 months. Let's get down to business and make some serious cash in 2004.
OTC BB plays
For the final 3 days of 2003, here are some OTC BB stocks ready to advance this week: ADZR, IDWK, GSPG, CDSS, MDTV, CDSS and GASE.
Have a great night everyone, we'll see you all Monday evening.
Flash back Aug 21th Bulletin
Watch list NOOF 8/21/03 Comments = I Expect this to pop out of this triangle any day now
BP 3.88. (This stock went to a high of 9.76 for a 151% gain)
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