|
The contents on this page are a small sample of StockTradersHQ's member resources (FREE Trial!)
1.
Our staff of professional technical traders analyze 1,000's of potential stocks every day to provide you with a list of stock picks with the greatest potential for explosive gains.
2. These stockpicks are traded with our real-time portfolio. Email alerts are sent for every entry and exit. Through the member-only website, you will have our support every step of the way.
3. Our subscription service provides all the resources, stock picks and tools an investor needs to make very profitable, consistent trades while maximizing gains and minimizing losses.
SEE OUR TOP PICKS FOR 2006...
|
|
Tuesday, March 16, 2004
Good evening friends,
Market Recap
The NASDAQ continues to undercut prior lows on a daily basis. Even though it finished the day up by 3 points, it fell to a low of 1927 intraday and could not get back to the previous day's high. Lower highs and lower lows constitute a down trend and that is what this index has been in for the last 7 weeks. Even though the NASDAQ was slightly green today, it remains extremely over sold and is due for a bounce any day now.
With the economic data due out this week and Greenspan at the microphone, anything can happen. Let's hope for the best and keep an eye on that 200 SMA. If we get down to that level, we should see a very good bounce.
Taking Long Positions
You may have noticed that I have been systematically going long on the Favorite Chart stocks on the Bulletin. I have been waiting for the right time to buy without over extending our cash position. Today I picked up NMGC at support. We will slowly accumulate strong stocks so that when we get the bounce I expect in the tech sector soon, we will already be in these stocks and will not have to chase them.
Shorts Update
Our short positions have worked out well so far, and we closed out our biggest short winner so far with an 18% gain today on FDRY. Remember, the goal for these short sales are a 10% profit so anything more than that is just extra cheese on the pizza. FDRY is a very weak stock and we should look to re-enter this short in the near future.
Tonight I have no new stocks for the Bulletin. A few more days of patience on our part and we could be in the right position to take advantage of a nice bounce. Keep your eyes on those strong stocks in the Bulletin and be ready.
I will continue to look for new stocks this evening; I have a dinner to attend tonight and need to get away for a few hours. I will send an Alert with any stocks that I find later this evening or tomorrow morning before the open.
As always, thank-you for your support past, present and future! Have a great night everyone; we'll see you all Wednesday evening.
|
|
|
|
|
|
|
