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Tuesday, October 25, 2005
Market Recap
Well, what a surprise…or was it? After the pattern we have seen in this market over the last few weeks, today's lack of follow through buying on the heels of yesterday's big rally should not surprise anyone. We knew yesterday there was a lack on buying conviction because the volume was very low for a rally of that size. Today we see the result of a low volume rally the day before. We mentioned yesterday that we needed to see a big volume follow through day today but we didn't get that confirmation we wanted.
The indices ran into the resistance levels we explained and showed in the charts last night. The Dow was down 7 points, the Nasdaq lost 6 points and the S&P lost 2 points. These were not big losses and that in of itself is a positive. Hanging in there and hugging the flat line is much more constructive action than what we have seen lately from the market so today's lack of profit taking could be seen as a positive sign. In past weeks, the big gains have been followed by massive selling the next day. Today there was not much selling and many charts of strong stocks are setting up nice bases. Market leaders like SNDK, AAPL and GOOG are forming nice bases after some solid advances.
The Triple Crown
After the awesome report by ISRG after the bell, it will assume its leadership role again now. So far, we have had two monster earnings reports from GOOG and ISRG. For those of you who have been here awhile, you know that I have been pounding the table on those two along with NTES for months now. These are the stocks with the biggest earnings growth in the market today. NTES reports on Nov 3rd and I expect a big move up on that monster also. These three are what I call my “triple crown” of winners and have been holding call options on all of them for months. Tonight I give you a forth stock – UTHR. This is another company with tremendous earnings and revenue growth like the three mentioned above. UTHR reports earnings on Oct 31st. I normally do not hold stocks through earnings but there are some exceptions. The four stocks mentioned above I will personally hold through earnings but let's not confuse my personal trading with the STHQ portfolio. We do not recommend anyone hold through earnings because we cannot risk our members taking a big hit if we are wrong.
Secret Recipe
As far as other stocks, SNDK and AAPL are also powerful stocks with super earnings growth. I am not a fundamental trader, we trade on charts but if there is one thing we cannot ignore when it comes to companies, it is revenue growth. That is the most important fundamental aspect of investing. Earnings and revenue growth are what drives stock price. It is not the P/E - who cares if a stock has a P/E of 5 and is trading cheap compared to its peers. It trades that low for a reason. It is because the company is not growing and if it is not growing, the share price cannot grow regardless of how cheap the stock is on a P/E basis. If you do look at fundamentals, what you want to buy are companies with strong balance sheets and revenue growth. All of the stocks mentioned above fit that category. A great technical chart set-up coupled with a company with accelerating revenues is the best buy in any stock market. Let me repeat again: GOOG, ISRG, NTES, and UTHR are super stocks with super revenue and earnings growth. I have just given you the secret recipe to grow your portfolios over time.
Stockcharts listing
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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
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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