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Thursday, August 11, 2005
Market Recap
Another record high for oil prices today, can you believe it hit $66 a barrel? But oil could not “spOil” the rally in stocks. The market was on a major roller coaster ride today as two big reversals took place. The DOW was up over 60 points very early this morning before sellers took stage and took stocks lower for the first reversal. Then, out of nowhere late in the day, buyers came in and market direction reversed once again. This late day reversal caught the bears by surprise, just when they thought they had control and took stocks up to close at the highs of the day this afternoon. The market closed very strong with the DOW gaining 91 points, the NASDAQ was up 16 points and the S&P was higher by 8 points. Our STHQ portfolio has acted very well during these market whipsaw's of late with only one of eleven open positions in the red at this time. Things look very good when and if the market decides to make an assault on the recent highs. Of course, after that great close, DELL came out with earnings after the bell and guided lower for the coming quarter. As a result, this stock is getting slammed after hours. DELL use to be able to move the markets with its earnings but, like other big bellwether stocks like INTC, CSCO and MSFT, they have not been able to move the markets recently. I do not expect too much fallout in the overall market because of DELL but that remains to be seen.
Where is the Common Sense?
Oil and interest rates remain in the way of an all out bull market. If one year ago we had said that oil would be $66 a barrel and there would be four rate hikes of .25 basis points, you would never have believed that the markets would be near four year highs today. Nevertheless, that is what has happened. It defies all logic but it goes to show that we can never try to rationalize what the market should be doing. We remain bullish because of the charts, but in the back of our minds, we know that logic says that the market should not be going up under these circumstances. We know the logic but we also know the market is not logical so for that reason, even though we think the market should be going down, are portfolio is 100% long because the trend says we should be. We must follow the trend and not our personal beliefs when it comes to stock trading because the market will prove those beliefs to be wrong the majority of the time.
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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