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Tuesday, April 13, 2004
Market Recap
It was a big down day for the markets, but if you were in the right stocks it did not matter. There was big money to be made regardless of market conditions. I am talking about WLSF! I blew it big time on this winner when I sold too early. Yes we made a nice 57% profit from our buy point at 1.71, but that was nothing compared to the phenomenal run it had today. It gapped up and ran to a high of 5.65 for a gain of 230% from our buy point. Not a bad gain on an ugly market day. Recall my chart on this stock a couple nights ago that I said, “I would be on this one like mud on a hog”. I will show the chart again tonight because I think it is deserving of a repeat look.
Rare charts
I do not make these types of comments very often because these types of charts are rare so when you see a comment like that, it means it is a rare chart where everything seems to be point to a big breakout. I have made similar comments on some other trades such as ONT and TRPH in the past just before their big runs.
Some subscribers have told me that they buy stocks based solely on my comments in the Bulletin and that they know by my comments if I really like the stock or not. I know some subscribers that have put all their eggs in one stock based on comments like the one for WLSF, and they have done well doing so. I do not suggest doing this, but it does pay off big when we are right.
All you need is a few of these big winners like WLSF and your portfolio can stand a few small losers. We have been selling some stocks for small losses lately. If they do not go up, we will sell to preserve our cash. When we hit a big homerun like WLSF, your portfolio will not be affected by the small losers.
Yes, we like it when stocks go up but be advised that I am not recommending these stocks as long term investments. They are strictly plays based on chart patterns and technical analysis. Many times I do not know details about the company, fundamentals, or other events that may be pending. Please do your due diligence (DD) before entering a position based on any Alerts I send or comments made in this Commentary or the Bulletin.
Gambling or Investing?
Given all the wild poker stocks that have been showing up on our message board recently, I feel it is time to revisit some past comments about these poker stocks.
I rarely ask people to refrain from bringing stocks to the board. We are a group of traders and we are always looking for the next hot stock to trade so I encourage you to continue to post stocks that you see moving or maybe going to break out.
I only have one pair of eyes and I can not possibly track every stock out there. That is where all our members come in. We get many solid stocks coming from various members and we have been doing a great job finding most of the big winners each day. Often, someone will give us a heads up on the message board before they move; super job friends.
It is because we have so many quality stocks listed on our boards that we rarely need to play the small penny BB stocks listed. They are the poker money stocks and I would not want anyone to get hurt playing them. Whenever you start trading stocks that trade in the pennies, you run into all sorts of issues. Liquidity is always a problem because you have to buy thousands of shares to actually make money.
On many of these stocks a few hundredths of a cent can be a 25% gain or more. If I own 100,000 shares in a stock that moves $.005, I would stand to make $500. For some, the broker fees to obtain 100,000 shares may not be doable. $500 off of a $.005 move, but what is the risk? We can put $10,000 into a stock that is trading at $2.50 a share and have it move 12 cents and make that same $500. That is about a 5% gain on the stock with a lot less commission to pay the broker.
OTC BB Update
- MOBL (Up 200% since mentioned at.10)
- BLLD (Listed 2 nights ago at 3.20 today's high was 6.45 up 100% in two days)
- WLSF (listed at 1.71, today's high 5.65 a 230% gain)
- FATS ( up 40% since listed two nights ago)
OTC BB WatchList
- ENVA
- GDVI
- TCHL
- PTSC
- SEHO
As always, thank-you for your support past, present and future! Have a great night everyone; we will see you all tomorrow evening.
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