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Thursday, July 14, 2005
Market Recap
Six straight days of gains for the NASDAQ and S&P with the SOX index leading the way with its 8th consecutive day of gains. The Biotech sector is on fire right now with big named biotech's like DNA and AMGN pouring on the gains over the last few days. The S&P was up 3 points today and finally closed above the 1225 level, this is a four year high for this big cap index. The SOX index of semi conductor stocks closed at a new 52 week high today and this is the big driver on the NASDAQ. The NASDAQ gained 8 points today while the Dow bolstered up 71 points. The RUT, a recent leader of this bull run, lagged today and closed down 5 points. There were lots of stocks that got off to a good start but faded as the day went along like GOOG and CME and many others. The market needs a rest after six days of gains.
Let's Get Realistic
Fantasy camp is over; this is the stock market, not a play land where dreams always come true. Statistics show that a large majority of novice traders will exit the markets within one year, and leave most if not all of their capital to the wolves. Most of the time, it is because they are undercapitalized and undereducated. These people are the wishful thinkers, uncommitted dabblers, and worst of all, novice investors with gambling tendencies. Nearly all of them have ridiculous expectations when it comes to the idea of what it takes to be successful in the market. Their expectations are unrealistic for a variety of reasons. They see all the hype and commercials for online trading accounts. These online brokers make it seem like anyone with a computer and $5000 can be a successful trader. They never mention the fact that trading can be very risky and it is not as easy as it may seem and that they could suffer major losses. No, they do not hear that because it is not something that the online brokers want them to know.
The Zero Sum Game
Many people mistakenly believe the stock market exists for the sole purpose of providing them and the general public with a way to take a modest sum of money and parlay it into a fortune. Not only that, but they also believe that this quick fortune is going to come in a matter of months, not years. Markets exist for one reason and one reason only (read our commentary in the topic section titled “The Zero Sum Game” if you want to know why the markets really exist).
While there is no doubt true that some people do eventually reap a fortune from the market, these traders are the most knowledgeable, experienced, dedicated and disciplined traders in the market. They are the real professionals, and they are by no means the majority. Yes, some are just flat lucky, but these lucky people who happen to have been in the right place at the right time are minuscule compared to the number of participants. They were many of these lucky people in the market back in 1999 when all you had to do was buy and hold and it did not matter what stock you bought because all stocks were rocketing higher, riding the wave of the bull market. However, when the party was over, most of these lucky people ended up giving it all back and then some. These lucky people did not have a clue on how to protect their lottery tickets (internet stocks) and gave back most if not all of their lottery winnings in subsequent market cycles due to the erroneous investment habits and false expectations associated with stock market tops.
Friend or Foe?
Take the time to educate yourself on sound practical trading strategies, the business cycle and the market cycle. If you practice this, you will not be relying on just luck. The last thing you should be thinking about is how easy trading is in the beginning or how quickly you will amass a fortune. The fact is, everyone has to learn before they can earn. Work hard to break the false expectations and set achievable goals. With the correct expectations in mind along with a solid money management and risk control plan in place, you will set a proper foundation for capital appreciation and transition yourself into a higher stage of professional trading as you master the learning curve everyone must go through. The market is your friend; it is not your enemy. It is a friend because it pays you well when you respect it and know what you are doing. The market is the enemy to those who carelessly invest or trade blindly without giving the market its due respect. Those who curse at the market when they do not do well need to remember it is not the market that gets them in trouble; it is their own bad trading habits.
STHQ Chart Index - If you go to the chart index in the left side menu, you can review and study charts we have annotated for each stock listed in the past.
Earnings Calendar
We have added the earnings link for each stock on the bulletin. To access the link for earnings you can either use this link below or click the link on the bulletin for the corresponding ticker. Click the online bulletin in the left side menu for access to the earning calendar for each stock listed. It is not recommended to hold a position through earnings. You can always buy the stock back after the dust settles.
http://www.earnings.com
Stockcharts listing
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Thank you all for voting
For New Members:
For all the new members with us, please make sure to read the link “How to use Bulletin” at the bottom of the Bulletin page on the website. It is critical you know how to use this trading tool before trying to trade the stocks mentioned. The effectiveness of your trades will diminish if you do not completely understand how the information is presented.
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