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Monday, April 26, 2004
Market Recap
It was all about drug stocks today, and investors long in the biotech sector had a great day even though the rest of the market fell. OSIP was the big winner, up $55.00 (or over 140%) on news of successful trials of their lung cancer drug. This news boosted other biotech companies as well and that sector seems primed for more advances. We have plenty of stocks on the Bulletin that are in this biotech/drug sector. They include: MEDX, ARIA, VION, AXYX, KERX, GENE, IMGN, and IDEV. All of these stocks have strong charts; if you want exposure to this group these are eight good stocks to choose from.
Financial/bank stocks along with housing stocks are drifting lower due to interest rate fears causing a the drag on the Dow. The NASDAQ remains above its 50 SMA and that continues to be a positive sign. Today's pullback was on decreased volume compared to the last 3 days of strong volume rallies. Charts are looking good as momentum is shifting into biotech and drug stocks. Internet stocks have been on a roll as well with YHOO, ASKJ, INSP, and FWHT breaking out into new highs (just to name a few).
Long Term Portfolio
WBR is our first position we have taken today for our long term portfolio at 1.09. Their revenue is 8x their market cap, but on the flip side, their debt is 2x revenue. This is a risky pick because of the debt, but if they can get it under control and come out of this, this stock is undervalued.
Time Is On Our Side
Steve Miller once said, “Time keeps on slipping into the future”. How right he was. Time stops for no one. One of the things we have absolutely no control over is – time. However, we do have control over how we spend that time.
Time is money; we live in a society where everything is fast paced. You can get just about anywhere in America in a few hours; pizza is delivered straight to your door in 30 minutes or less. According to some commercials, you can lose 50 pounds or more in just a few weeks with no effort!
Our society is training us to expect results right away, within moments of snapping our fingers. We want it, and we want it right now. I see a lot of this mentality in the trading world as well. Just read any Yahoo message board and you will see what I mean:
“Buy now or you'll miss out!”
People often chase after stocks that are running because they just can not miss out on that big gainer. Most often, they end up with a big loss because they do not have a clue about how to trade. We have seen some stocks that start off rather slowly, or that pull back slightly from our entry point. If the chart is still solid, and if we are using good trading practices, we should be in good shape even in a position pulls back from our entry.
Still, I get the impression some members expect to turn their portfolios into double digit gainers overnight. Ideally, buy points are right on the money and stocks will fly once they break above the buy point. However, that is not always the case. Stocks do not always take off as soon as we buy them. Some stocks will need time to set up, and if they do not go right away, keep an eye on them for a few days.
Building wealth takes time. By using a systematic trading style and by sticking to our rules (as I have for the years), we will consistently out perform the market with minimal risk for our potential reward. Spreading your portfolio out over several positions limits your risk. Looking for the homerun and loading up your portfolio with one or two stocks carries enormous risk. If you are wrong and that one stock tanks, you will be wiped out and your trading days will be over. You will have to go back and work 40, 50, 60 hours a week again for the rest of your life - this is not time well spent in my opinion.
This is where time comes in. I want to have my money working for me over time and not spending the rest of my time working for somebody else. Investing takes time, building wealth within a portfolio takes time, and it takes patience. If it were easy, we would all be rich and we would only have a Bulletin with 2 or 3 stocks. We would take a 100% position in one of them, and double our money by the end of the day.
Unfortunately, it is just not that easy.
OTC BB Watch List
All of the BB stocks on yesterday's Watch List are up today.
- GASE (up 6% today and could keep going)
- ADVR (up 20% at one point today)
- VROT (still looks like it could run)
- IPYS (.75 is support, looks ready to breakout soon)
- FRCP (Up 30% today and at one point was up 60%)
- IFUE (up 15% today)
- ICRA
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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