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Tuesday, June 01, 2004
Good evening friends,
Market Recap
The NASDAQ traded in a tight 20 point trading range today, closing near the high of the day while the Dow had an 80 point range and closed near its high of the day. Both of these indices are hitting their respective resistance levels of 1990 and 10215 for the third trading day in a row. They can not seem to brake through these levels on low volume. Hopefully both these indices will brake through this level of resistance tomorrow.
Expect the NASDAQ to break through soon and reach a level of near 2020 before settling back down to test the 2000 level. This is just my short term forecast. In this market, it is hard to predict anything further out then the very short term until the charts become clearer.
We entered some new positions today that I think will work out very well should the market start heading north.
Happy Anniversary TWPD
Today is the one year anniversary of the TWPD service. One year ago today we issued our first nightly Bulletin and Commentary. It has been one heck of a year, and we are looking forward to many more years of serving you.
Our Outlook
I wanted to take a few minutes to discuss where we have been, and where we are headed. We have a great group of ‘family' and friends here, many of whom have been with us from the very beginning. For newer members, I want to thank-you for joining us and welcome you to our ‘family'. It means a lot to us knowing how many people we are helping to learn the secrets of trading with technical analysis and using it to discover financial freedom for you and your families.
Our Humble Roots
When we first started, the service was nothing more than a free message board on Yahoo. We offered a Bulletin in the form of a spreadsheet with a word document for the commentary sent by email each night. The purpose of our Yahoo message board was to learn how to trade, keep our focus on the charts, and leave all the bashers/pumpers behind on the other boards. From those humble roots, we have grown into a full fledge, stand alone website.
We offer more today than we dreamed we would offer when things first started. Our site has a complete history of all trades we have made, all alerts we have sent, all the charts we have shown in the nightly commentaries, all the comments on each stock that has been featured in the Bulletins each night, and all Commentaries and Bulletins for your research and reading pleasure.
We also are getting ready to roll out a classic commentary section and an online store with TWPD merchandise (Hats, t-shirts, sweatshirts, mugs, and other items). We have come so far in one year and we are just beginning, there is much more to come in the future.
Success Stories
In 2003 we racked up gains in excess of 300%. That is amazing considering we did not get started until June when the year was nearly half over. We have had a much tougher market in 2004 but, we are still seeing some very nice gains while the rest of the trading world has had a very hard time of it lately.
In just seven months in 2003, we had:
- 15 trades that gained in excess of 100%,
- 21 trades that netted between 50% and 99%,
- 29 trades that gained between 30% and 49%, and
- 44 more trades that gained between 10% and 29%.
We had our share of losers as well, but those losses were controlled and limited which resulted in an over all gain of 318% in the 7 months we offered our service in 2003.
In 2004 we have already had 11 trades that have given us in excess of 30% per trade and when the markets turn bullish again, I am confident we will be positioned to challenge our record gains of last year. We pride ourselves on technical analysis and strict money management. Combine these two elements and you have a trading system that can rival any you have ever heard of.
We have had some wonderful insight into market psychology in our nightly Commentaries. Here are just sampling of some of the topics we have covered:
- never to trade in the first 30 minutes of the open and why,
- how the open is for amateurs and the close is controlled by the professionals,
- how to do the opposite of many of the recommendations you see and hear on TV,
- how not to trust the futures in pre-market,
- what the crowd will do and how to react to their reaction,
- how indicators are used in our indicator series such as ADX, Bollinger Bands, Stochastic, MACD, RSI, and Chaikin money flow,
- how and when to use EMAs and SMAs,
- the difference between daily and weekly charts and when to use each,
- how to preserve capital,
- how to refrain from playing the “poker stocks” too hard or to often,
- how to diversifying your portfolio to reduce the risk, and
- how emotions effect our trading.
We have also learned many valuable lessons about trading from TV characters, singers/songwriters, and even our children. If you look hard enough you will find a lesson every day in the markets, we just need to keep our eyes, ears, and especially our minds open.
We have not even scratched the surface yet. For instance, upcoming commentaries will include: On Balance Volume, Force index, Parabolic SAR, Williams's % R, Rate of change, Traders index (TRIN), the volatility index (VIX), and many more.
Whether you are new to the TWPD family, or one of the original members, you will still want to check out our new classic commentary section coming soon. It will have topics like Bulletin 101, Moving Averages, Support and Resistance Levels, Short Selling 101, The Wall Street Analysts, Dividends, Indicators 101, Breakouts and Gaps, The Zero Sum Game, Stop Losses, Using Margin and many other topics.
I Would Like to Thank…
I would also like to take this time to thank everyone of our valuable team. Our strength is in the team that we have been building since day one. I truly appreciate what all of our members mean to the site and what everyone brings each day to the board and to the team. I also want to give special thanks to our team of moderators. Joe, KC, and Mike Serven all bring something special to the group. I do not think we could ever thank them enough for everything they do for all of us. They also do many things behind the scenes that are transparent to our subscribers. I want to thank Trudi for providing fantastic customer service to our members while I concentrate on trading and Mike Tojo concentrates on our website.
Finally, I want to thank Mike Tojo for all his effort in making the TWPD website what it is today. He has brought our website into the 21st century. It is a truly state of the art website and has far exceeded my expectations. It is Christmas morning everyday with Mike at the helm. Thank-you Mike for everything you have done, you are a true professional.
Our Commitment to You
TWPD is committed to working together with all our members to learn and prosper from the greatest way to make a living (stock trading) in the greatest country in the world. We will continue to walk the path, because we know the path and how to get to our destination of financial freedom. We will not be led astray like so many of the herd on a daily basis. We will survive and we will grow, because we have each other and we have our charts. I would like to propose a toast: please raise your slice of pizza and toast to the charts, our members, and everyone who have stayed the course as a valuable member of this great family.
From all of us at the TWPD team, we look forward to serving you and working together to help all of you become a better traders and to reap the rewards of successful trading. God bless you and your loved ones.
OTC BB Watch List
- SPHC: listed last night and still looks good
- LINN: listed last night and still looks good
- ABTG
Notice: No Bulletin on Thursday June 3, 2004
As I will be attending my oldest son's graduation the evening of Thursday June 3, I will not be able to produce a Bulletin.
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