|
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...
|
|
Monday, March 22, 2004
Good evening friends,
Market Recap
This market is tumbling down faster than Veteran's Stadium in Philadelphia. The good news is that we may be close to a bottom. The NASDAQ was showing some signs of life near the end of the day and tried to muster a rally. It came within 13 points of the 200 SMA. I have a weekly chart of the NASDAQ tonight that shows the 40 week moving average to be 1901, and today's close was above this average. In the chart you will see that the 40 week moving average held as support today. The NASDAQ dipped below this average intraday but closed above it, and the close is all I am concerned about. There is also another support line around the 1900 area.
The NASDAQ index is now primed for a bounce, and I think we can start buying some of our favorite stocks (with tight stops of course). I covered my remaining short positions today in anticipation of this bounce. With today's trades, our trade record now stands at 50% cash with ten open positions - nine different stocks and one double position in ISO.
Don't Loose the Spark
There is a certain spark that investors get when they are in the market. It is that feeling which draws so many people into the market each year. Unfortunately, many of those investors are going to get washed out in a year or so. They do not understand how to invest smartly, they do not have a game plan, and they are very erratic in how they invest or trade.
That describes the ‘herd' which I refer to so often. At TWPD, we try to teach people to break away from that herd mentality and take their investing to a higher level. If you have been with us a while, I hope that we have been successful in helping you to break away from the herd and stay away from it permanently. If you have only been with us a short amount of time, you will learn what we mean by the herd and you will know not to react with them. The talking heads on TV will try everything in their power to get you to give up on what works, and re-join the herd.
With the way the market has been acting over the past few weeks, most of that herd is being stripped of their cash. They are eager to win back what they have lost, so they will rush into yet another losing trade.
It is a vicious circle, and I have seen signs of this on our message board. People are too eager to trade these days. Cash is king, until we can really get a good idea on where the market is heading.
There has been money to be made in day trades but that has been risky. We have seen some stocks act completely against the nice charts they have been working on for so long and we have seen stocks with textbook bad charts gap up unexpectedly with no indication from the chart to give us any advance notice that these movements may happen.
We have our game plan and it is been working for us for 10 months now. We will continue to stick with it; trading and investing is a long term game. It is impossible to make money every day; there are some days when I do not make money, it happens to us all. The key is, over time, a consistent trading method will rack up enormous gains.
Do not look at trading on a daily or weekly basis, look at it over a number of months or even years. Where do you want to be in say 2 years? Everyone has different goals, write down your goals and place them somewhere safe. Pick a time frame and review them when the time frame is realized. Did you meet your goal? Remember we do not want to trade just to say we did something in the market today.
If you are going to get into a stock, be very cautious on how you play it. Above all, be patient! I have seen far too many instances of what can happen when someone gets frustrated and trades before they should. I have also seen far too many people leave our little family and return back to the herd. If you lose your patience in this marketplace, your portfolio will not be far behind.
Some OTC BB stocks for your watch list include BIOHF (up 50% in 2 days after being listed here), UTYW (also up big since being mentioned), MDPA, MMGG, WWAT, DSNY, and WHAI.
As always, thank-you for your support past, present and future! Have a great night everyone; we will see you all Monday evening.
|
|
|
|
|
|
|
