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Sunday, January 11, 2004
Good evening friends,
Buy the Dips
Once again another 52-week high for the NASDAQ Friday, but as I noted on Thursday night, the selling I thought might happen sometime on Friday, happened in the afternoon. People did indeed lock in profits for the week. Bulletin stocks making new 52-week highs Friday were TRPH, NANX, VC, AXTI, CRGN, CHPD, ORB, IKN, and SPIL. The cause for the profit taking was a very good run-up to over 2100 on the NASDAQ in a short period of time. I was debating on selling as well, but I am 100% long. I did not sell, as I would have had to do a lot of selling very quickly Friday afternoon and I did not want to panic the membership by doing so. The market is still in great shape so there is no reason to have a fire sale like that. Yes, we may dip even lower but if you notice, every dip is met with buyers. This has become a “buy the dips” market like all bull markets are. We have moved from a “sell the rally” market eight months ago to a “buy the dip market”.
100% Long
I am now 100% long the market with no available cash to work with. I currently have 20 long positions and 2 short positions with 3 of the 20 long positions being a double position. This means that I can no longer maneuver freely in the market. I am pinned down because I have to sell one stock in order to buy another. I don't like to be in this position, because it forces me to sell a good stock to get another good stock; this always leads to tough decisions. We have some slower movers like BCON, EAG, and HEC that are not performing, but the charts looks great and if we drop them to buy others, we could miss a powerful move up. However, we do have the option to let us extend our capital beyond what we have available to us. This is called ‘margin'.
Margin
Margin should only be used by experienced traders. For those who don't know what margin is then it is most likely that you don't have the experience use this tool to your advantage. The best advice I can give is to stay away from margins for the time being. It is our goal to give you enough skill and experience that using margin will be an option. Our experienced traders should know how to use margin and to protect their capital by cutting losses (should there be any). I rarely use margin. In fact, the only time one should ever use margin is in raging Bull markets which I believe we are in the beginnings of right now. I will use margin on some trades coming up if I do not want to sell a position to gain another. So at this point, if I buy a stock and I have not yet sold one, you will know that I have bought the stock on margin.
Aggressive Trading on Margin
Because I will be using margin, I will be a little quicker on the trigger if trades don't go my way. You need to understand this because my trading style is very aggressive when I use margin. This means that you may not choose to follow every trade I make. Like our moderators often stress, you will sometimes be required to make your own decisions on trading. I can tell you this; we have 50 stocks on the Bulletin and all are in very good up trends. No matter which ones you decide to buy, and whether I buy them or not (I can only buy 20 playing 5% in each), you will do very well with them over the next few months and for the remainder of 2004. Of course, there are never guarantees because companies can release negative news, but for the most part, news has been good and charts look great, so I am positive the up trends will continue.
Member Picks
Not only do we have the 50 bulletin stocks but also we have many members on our message board sharing new winners with us every day. I have been very impressed with many of the stocks listed on our board. Our members are learning to spot these breakouts and the plays are flooding onto our board like a dam break on the Mississippi. As one poster said on Friday, “our board is a money magnet”. Another poster said, “…all the hot stocks show up on this board”. I fully agree with both of them on that. Hats off to all of our great posters; our message board has never been better. It's running on all cylinders now and posts are very productive and helpful to everyone. Thanks to everyone for making our board one of the best boards anywhere. A special thanks to all our moderators as well: Joe, KC, Drew, and Mike S.) They are extremely knowledgeable and the answers they provide to our subscribers' questions have been right on the money and I could not have answered them better myself. Great job guys, I think I speak for the entire membership when I say thank-you all for a job well done.
Earning Season
Earning season is here again so expect some wild swings in the market. A number of big cap bell weathers are due to report this week so be aware of when they report. I said I'd have a full Bulletin of 50 stocks tonight which I have done, but it was a very tough decision to decide which stocks to list. At this point, I'd like to be able to list every stock I like but there is no need to do that. 50 stocks are about all we can track effectively, and we can only buy 10 or 20 so it doesn't make since to follow more. I have them all on my radar and I will make adjustments to the bulletin each night as needed.
Let's get to the stocks and charts because we sure do have a lot to cover. For the active OTC BB players, here are some to watch this week for good moves. ADZR, BKYI, FGWC, FLCR, NNPP, AMWS and TMXN. Have a great night everyone, we'll see you all Monday evening.
Announcement:
As a part of our marketing campaign, we have been sending out a commentary each Sunday to our free board members. The mini-commentary is a scaled down version of the member commentary that is meant to give free members a small taste of what is available to subscribers. Selected stocks charts are also being posted to the public forum once a week as part of this campaign.
Announcement:
The daily Bulletins and Commentary are no longer posted on the member board, unless the website is having an extended down time. In that case, the member board will serve as our backup. This will help us provide better service - files are located in one place and all subscribers use our service in the same way to read/download Bulletins.
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