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Wednesday, August 31, 2005
Market Recap
The record high short interest we mentioned a few nights ago in our commentary is playing havoc with the stock market. There are no shorts left to short and as a result, stocks are going higher squeezing all those short positions. Just when most have covered and are squeezed out, this market is going to fall but who knows how long that will take? Stocks staged a remarkable rally today just when it looked like things were ready to collapse as a result of all the negative tone from the hurricane, high oil prices, rising interest rates and all the gloom and doom the media is reporting on. The market seems to be ignoring everything around it and forges higher, refusing to collapse. The Dow gained a whopping 68 points after opening lower this morning. The S&P was up 11 points and the NASDAQ gained 22 points and believe it or not, closed back above 2150, its 50 SMA and its descending trend line and all this on heavy volume. There were some amazing moves in some individual stocks today and it was a terrific day for anyone who day trades or even for swing traders who took new positions today, they have a gain right away. Strong stocks today were BMHC, FRK, IPII, VLO, RAIL, FWLT, FORD, INSU, IRSG, LIFC, SYNM, DNA, CELG, FTO, ADSK, JOYG, SIRF, BCSI, BOOM and many more. Most of these stocks were either on our bulletin or have been recently or of course, hurricane related.
Katrina Lives On
Retail, restaurant and casino stocks will take a major hit on earnings in the next quarter, not so much for the destruction of their facilities because those are undoubtedly insured. But they will suffer from the loss of operational revenue, cash flow and the despicable looting that is taking place in the hurricane zone. I can understand looting the grocery stores for food and water; that is a matter of survival at this point. But those sick individuals who are walking out of specialty clothing, footwear, and electronic shops with 5 pairs of Nike sneakers and Sony Play Stations are just plain inexcusable acts of thievery. What good are 5 pairs of shoes going to do them in 9 feet of water? Nevertheless, it is happening and It may pay to research which companies have an over abundance of chains in those obliterated locations and take a short position in the stocks.
Donations
This is not an attempt to profit from this tragedy, it is just an observation. I personally did not play some of the stocks that I knew would go up due to the hurricane such as IPII, FWLT, BMHC, FRK and others because my personal belief is that it is morally wrong to try and profit from others that are suffering. However, had I thought about it more, I could have played these stocks and donated the profits from these specific trades to the American Red Cross disaster relief fund to help the victims of this monstrosity. That my friends is what we should have done and I have identified a stock tonight that I will try to buy tomorrow for the sole purpose of trying to earn a profit to donate. BLDR is the stock and I have a chart of it tonight. It is another building materials stock that has not moved up like the rest. Maybe it is a late bloomer, I will give it a chance and see if the stock can move up due to this unfortunate incident and send a special alert stating were the profits (if any) will be sent. If you would like to do the same with this stock or any stock for that matter, we have provided the following link and phone number for you to do so if you so desire. www.redcross.org 1-800-help-now
The Aftermath
The devastation in those areas are unprecedented in this country to my knowledge and those people need our help. No food, no running water, no electricity, water rising every hour due to breached levees and the pump system broken down with no way to get the water out. The aftermath of this storm is much worse than we could have ever imagined. God bless those people and let's hope and pray they all get out safe. It looks as though New Orleans will be submerged in water for weeks or even months and who knows, it could be uninhabitable for a very long time. We just do not know the severity of the situation and the ramifications yet to come. In any case, it is not good and let's not forget Mississippi and Alabama who have suffered as much if not more than Louisiana. Every time a disaster like this happens, it should remind us all how lucky we are that we still have our homes and our families. There are people tonight that have nothing left.
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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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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