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Sunday, November 27, 2005
Market Recap
Two weeks ago we mentioned that on average, Thanksgiving week is normally an up week for the market. Sure enough, the market was up all four trading days last week and continued its winning ways with a streak that now stands at six consecutive up days in a row. The Dow moved up 15 points on Friday with the Nasdaq and S&P up 3 points and 2 points respectively. Of course, volume Friday was very light as expected but nevertheless, most leading stocks closed at or near their highs of the day. AAPL and GOOG are just absolutely amazing stocks and closed at there highs for the day.
Market Outlook
This week, we are hoping that the winning streak will continue, but we have to be realistic and expect some profit taking soon. With the shortened holiday week now over, everyone will be back in the market in full force and volume will dramatically pick-up. We are expecting a very nice run in the last 5 trading weeks of the year but we may get a slight pullback first. The market is overbought and due to pullback, but we believe if we get a pullback it will be short lived and will provide another opportunity to buy many of the markets leading stocks for the Santa Clause rally if you do not own them already.
Sideline Trading
Sometimes being in cash (on the sideline) gives you the best strategic position from which to trade and this is often an overlooked fact of day and swing trading. Remember, you cannot take advantage of market dips if you are already in the market. Last week we closed many positions ahead of the long weekend. This does not mean we are bearish, it just means we believe the market is due for a small correction and we want to have cash ready to be put to work should the pullback happen. However, if the market continues to go up, we will start building positions again this week. We will protect them with stops, because there will be an inevitable correction at some point.
At this point, it becomes almost like day trading. In my view, for day trading it is better to be out of the market more than in the market. This will allow you to get in and out with profits quickly and be on the sidelines should dips occur. It also drastically reduces the risk to your capital as compared to just sitting in stocks and holding trades for excessively long periods of time while a market is overbought. There is a well known philosophy on Wall Street and it goes something like this: “Be out of the market more with your trades and in the market more with your investments”. We do not invest at STHQ, so we need to modify that statement a little: “We're out of the market with our day trades and in the market with our swing trades when the market presents an opportunity to make a profit”.
Stockcharts Listing
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http://stockcharts.com/def/servlet/Favorites.CServ...
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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:
Please take a moment to read the "How To Use The Bulletin" link at the bottom of the Bulletin page on the website. It is critical you understand 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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