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Monday, November 07, 2005
Market Recap
The market continues to forge ahead with further gains as we start a new week of trading. As the market presses on with this rally, we need to keep in mind that there is strong price resistance just ahead for all three big indices and a rest is due soon. The Dow was up 55 points today and is now just about 15 points below some serious resistance in the 10600 area. The S&P gained 2 points and is 8 points below the next level of resistance near 1230. The Nasdaq was up 8 points and getting very close to some major resistance in the 2190 area so watch for a possible pullback in the markets very soon. It should be only a temporary setback so do not get too heavy on the short side, because we believe our focus should now be ‘buy the dips” in preparation for a year end rally. As the market rallied today, some strong bulletin stocks out paced the market with excellent gains. These stocks included VPHM, QDEL, NDAQ, and BOOM. The leaders took the day off but that was not unexpected. They were due for a rest and a pullback as well.
NTES
Well, we took a shot at holding through earnings and that was against our own rules. After hours the stock is down big because they missed by a penny. Over reaction in my opinion but nevertheless, it will damage the chart. Holding through earnings is a risk and that is why we sent the alert ahead of time today. We wanted to give everyone an opportunity to get out ahead of the numbers. It figures, the one we hold gets hammered and the ones we predicted would have super earnings (but did not buy or sell ahead of earnings) did great: GOOG, ISRG, UTHR, and VPHM. Unreal how our luck has been lately. NTES had 137% increase in revenue over the same quarter last year. That is amazing growth, yet the stock gets pounded on a 1 penny miss because the analyst expectations were again set so high that they just could not be met. This company gets no respect because it is an ADR operating out of China.
North to Alaska
There were some interesting bills passed recently, and one seemed to sneak through while no one was watching. Some issues were concerning budget cuts, minor yet highly controversial. These got the highest focus, as they are normally the rallying call for both democrats and republicans. Some restructuring to Medicare and Medicaid, seemed to pull more ire from the democrats than the bill that I was surprised to see sneak through.
The one that sneaked through was a bill that is of great importance to our country, environment, and our economy. It is also a very controversial issue, but one that somehow must have taken a back seat to issues that pull in votes for congressmen. The bill in question is the opening of the Alaska Arctic National Wildlife Refuge to oil drilling. This has been an issue for years. The fight goes back and forth between tapping into precious oil reserves that have yet to be tapped, and saving the wilderness.
The Price We Pay
For far too long has our country been dependent on foreign oil. In a sense, this has been a smart move. Oil has been cheap for many years, and we have taken advantage of the world market by not using our own reserves. The U.S. is sitting on some very large oil deposits but we have not tapped into them for a few reasons, including environmental issues. The shale deposits in Colorado are said to hold trillions of barrels of oil. There is also the Alaska oil of course.
It has been an issue of avoiding the environmental concerns that have prevented us from utilizing the Alaska supply. It would now seem that the concerns of higher priced gas have finally outweighed the environmental concerns. The technology is there now to protect the environment and oil companies have been working hard in recent years to ensure the environmental impact is lessened. The U.S. government has been genius for not drilling in our country, tapping our reserves and buying oil from other nations while it was cheap. But with oil sky high and possibly going higher in the coming years, there comes a point where you have to say “how high is too high?” If drilling does begin in Alaska, I am sure even the most hardcore environmentalist will be relieved at the gas pumps. There is a cost for everything and drilling in our own land will cost us in other ways. Cheaper gas will not come without a price. Unfortunately, the price we pay is giving up a little of the Alaskan frontier.
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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