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Thursday, January 19, 2006
Market Recap
A four day losing streak was all the bulls could stand, and it was enough for the bears to think they were back in charge. That all came to an end today when the market surged up at the open and remained strong all day. Despite some news from a terrorist hiding in some hole in Pakistan, the Dow gained 25 points, the S&P gained 7 points and the tech heavy Nasdaq bolstered a 22 point gain.
The market is saying, “to heck with your threats, terrorist”. The terrorists have been defeated and are incapable of attacking the USA on the scale they once were able to do because of increased security and strong military action against them. They have been reduced to mere threats and the market takes that as a sign the terrorist are incapable of mounting any serious attacks. After all, if you were about to attack your enemy, would you tell them first?
Bulletin Recap
As we mentioned in this mornings premarket update, we felt, a bounce in the market was due and as per the charts of the indices we showed last night, they were near support areas and a logical place for buyers to come back in.
Many bulletin stocks had nice gains today. They include: AFCE, AKAM, BOOM, CELL, CMED, CRAY, FNSR, JOYG, MDII, MIND, NUVO, OVTI, REGN, RGLD, SUF, TMTA and TXCC. All of these stocks were up over 4% today and many others on the bulletin were up over 3%. And if you like trading OTC stocks, be sure to check out our OTC bulletin. Right now 10 of the 23 listed are up over 40%. There are no shortages of stocks moving up well on our bulletins and there are many charts that are setting up for even further gains.
A Little More on Why We Sell
Last night we talked about the possibility of selling too early and we said that more often than not, if our T/A is correct, we are selling because we feel the stock is going to fall. Last night we listed an example of when we are wrong. Tonight, we want to show you about a trade we made just today and happened to be right on the timing of this particular sell. Today we sold IMMU at $3.26 for a 2% loss. Last night we said that when we sell, most of the time the stock will close well below our selling price. Today IMMU closed at $3.07 and if we had held this weak stock, we would be down almost 10% on the trade.
Remember, if you are going to act on our buy alerts, then you must also act on our sell alerts, just so this sort of thing does not happen. Protecting capital is the most important part of this business because without capital, you have no business.
Today's Bonus Chart: SUF
Click the following link to view today's bonus chart in the Public Chart lists:
http://stockcharts.com/def/servlet/Favorites.CServ... (first chart) |
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