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Tuesday, August 09, 2005
Market Recap
Stocks rallied today on Wall Street after recovering from the recently oversold condition. The DOW gained 78 points today, the NASDAQ gained 9 points and the S&P was up 8 points. Earnings continue to come in very strong. After the close today, bellwether's DIS and CSCO had good earnings releases. The big event today was the FOMC meeting and as widely expected, the Federal Reserve raised interest rates for the 10th time in a row by .25 and kept the same language of “measured pace” increases in their policy for the future. This was of course a non event in the market because none of this news was unexpected and already priced in to the market. The market was up before the news came out and there was a muted reaction at 2:15 EST, then briefly there were some sellers that showed up but it was very limited. When the sellers could not bring the market down, the buyers came in the last 30 minutes to close the indices well off the lows of the day.
The “Big Event”
Speaking of the “big event” today, the FOMC meeting gave no surprises. However, many “big events” turn out to be big market movers and most of the time the impact on the market is only temporary. With this in mind, let's talk a bit about this so called “big event”.
Avoid buying the big event at all costs. Here are some reasons why you should avoid the common trap that so many investors fall into. In the stock market, there is always "some big event" that might take place for a company or the market. Buying or selling based on the possibility that this event may or may not take place, or based on the how the market might react to such an event, tends to be a losing bet and turns your trading into nothing more than a gamble. Buying a stock ahead of what might be a "big event" can be quite risky. Very often big events such as mergers, buyouts, or some drug that may be approved by the FDA, get delayed for months and months. If you want to hold a stock for weeks or months waiting for some big news flash, that is perfectly okay. However, just keep in mind that generally stocks move up on news long before the average individual hears about even the rumor of the news. As a result, you often see stocks trade down on positive news due to the fact that the news was already anticipated long in advance and largely priced into the stock prior to the release of the actual news.
Generally speaking, buying the big event, or rumor of a big event, will tend to be not only risky but also will slow down and stagnate your trading while you await the “big news”. I know it is very tempting to trade the news or the big event but this type of speculation can be very costly at times and not worth the risk, in my opinion.
STHQ Chart Index
If you go to the chart index in the left side menu, you can review and study charts that we have annotated for each stock listed in the past.
For New Members
For all of 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 that 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.
Earnings Calendar
We have added the earnings link for each stock on the bulletin. To access the link for earnings, you can either use the 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
Please vote for us once a day at stockcharts.com.
http://stockcharts.com/def/servlet/Favorites.CServ...
Thank you all for voting
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