Post by Admin on Aug 10, 2004 2:16:31 GMT -5
Good Evening,
If it looks like a rally, smells like a rally, and feels like a rally, then it must be a rally, right?
Or a head fake......
It did look good coming out of the gate but the rising price of oil took the wind out of the sails again. There was resilience, she fought hard, but with light volume, she finally sank below the bubbling crude.
There were 25 new highs on the Big Board and 603 new lows. On the Naz, 15 vs. 640. Yikes! And tomorrow is Greenspeak day where the Fed will announce interest rate policy at 14:15 ET...an increase in the fed funds target of 1/4% to 1 1/2% is expected.
Yes, it's giving the pundits a lot to ponder tonight, as the world breathlessly asks,
"What will tomorrow bring?"
And we are hearing some very profound statements from the analysts who get paid the big bucks to tell us the future.
Things like,
"After the stalled attempt at a rally today, the markets should move substantially higher from here unless we begin to break down at which point we will most likely begin to see new lows."
Did you get that? Clear as mud.
Put your money back in your pocket and I'll tell you the same thing for free in plain English;
"We don't know."
It sounds so much more sophisticated when they say it, doesn't it?
There were 1230 (38%) advances on the Nasdaq vs. 1828 (56%) declines. The CT Index fared substantially better with 133 advances (53%) vs. 119 (47%) declines. The CT-Mini (last 2 weeks selections) came in with 44 advances (58%) vs. 32 declines (42%) Keep in mind that the CT Index spans a 60 day trading period and many of the declines were positions that already earned their 20%+ and have been retired but not removed. Our two biggest gains were Volvy which added $2.15 and KB with $1.81.
On the short side, that's where decline = good and advance = bad, we saw 18 down and 9 up.
If I were to remove the retired trades, and publish the true ratio, you would think I was pulling your leg or stacking the deck, so I left them in for now. When the board hits its 60-day birthday, I'll start the recap for you on a daily basis. I'll tell you when we were in, and when we were out. Some trades last 2 hours, some 2 days, some 2 weeks, but rarely will it run longer than 2 months unless it is an exceptionally strong trend such as we experienced with IDSA earlier this year. IDSA did not fit our normal profile as it was never sufficiently undervalued, however, the sheer momentum couldn't be ignored or the profits that were generated both as it rose to ridiculous levels and then beat an equally hasty retreat. You can't help but respect a stock that makes you money no matter which way it moves.
Once the "Global Instant" real time data stream hits your desktop, you'll be privy to the trades as they happen. We should stream our first beta-test within the next week and if all is well, you can expect the roll-out within 30-45 days.
As I mentioned a week ago, the gap between price and value is rapidly diminishing.
Once values begin to rise after the next round of earnings, you'll see the number of selections increase incrementally, unless earnings disappoint, which would result in a situation where we could experience continued narrowing which might potentially result in fewer selections.
If I ever really start to talk like that would someone please slap me? ;D
With AZMN trading 5X it's average volume today, it's not surprising we surrendered a penny. As I pointed out last night (foolishly I might add), some investors were up 60% in a few days and took their profits. Penny wise, pound foolish. That's OK. It gave us all another chance to buy the dip.
More dip = better party.
Pass the chips please..........
+ WSO POT CRFT
- VRTX NPSP RNWK CVTX
As always, Trade Safe!
____________________________________________________________________
Between the Lines
We all know the original Nic at Night story. Under the cover of darkness, because he was part of the Religious Right, Nicodemus came to ask Jesus the big Q.
"How do I get to Heaven?"
Jesus said, "Ye must be born again".
Things that make you say hmmmmmmmm
I wonder how being born again affects your genetic code? New creature, new code?
It shows up in how we talk, act, think, love and serve. If our strand defines who we are, and scientists can alter who we are through genetic engineering (remember we're sheep) then is it really a stretch that when Christ changes us, that the code changes too?
I'm sure someday modern science will offer an answer, but I'm satisfied today that my code did change, both morally and ethically. Friends from the old life don't even recognize me.
I'm serious, they walk right by me on the street and don't even speak.......
Be Blessed!
CT
_______________________________________________________________________
If it looks like a rally, smells like a rally, and feels like a rally, then it must be a rally, right?
Or a head fake......
It did look good coming out of the gate but the rising price of oil took the wind out of the sails again. There was resilience, she fought hard, but with light volume, she finally sank below the bubbling crude.
There were 25 new highs on the Big Board and 603 new lows. On the Naz, 15 vs. 640. Yikes! And tomorrow is Greenspeak day where the Fed will announce interest rate policy at 14:15 ET...an increase in the fed funds target of 1/4% to 1 1/2% is expected.
Yes, it's giving the pundits a lot to ponder tonight, as the world breathlessly asks,
"What will tomorrow bring?"
And we are hearing some very profound statements from the analysts who get paid the big bucks to tell us the future.
Things like,
"After the stalled attempt at a rally today, the markets should move substantially higher from here unless we begin to break down at which point we will most likely begin to see new lows."
Did you get that? Clear as mud.
Put your money back in your pocket and I'll tell you the same thing for free in plain English;
"We don't know."
It sounds so much more sophisticated when they say it, doesn't it?
There were 1230 (38%) advances on the Nasdaq vs. 1828 (56%) declines. The CT Index fared substantially better with 133 advances (53%) vs. 119 (47%) declines. The CT-Mini (last 2 weeks selections) came in with 44 advances (58%) vs. 32 declines (42%) Keep in mind that the CT Index spans a 60 day trading period and many of the declines were positions that already earned their 20%+ and have been retired but not removed. Our two biggest gains were Volvy which added $2.15 and KB with $1.81.
On the short side, that's where decline = good and advance = bad, we saw 18 down and 9 up.
If I were to remove the retired trades, and publish the true ratio, you would think I was pulling your leg or stacking the deck, so I left them in for now. When the board hits its 60-day birthday, I'll start the recap for you on a daily basis. I'll tell you when we were in, and when we were out. Some trades last 2 hours, some 2 days, some 2 weeks, but rarely will it run longer than 2 months unless it is an exceptionally strong trend such as we experienced with IDSA earlier this year. IDSA did not fit our normal profile as it was never sufficiently undervalued, however, the sheer momentum couldn't be ignored or the profits that were generated both as it rose to ridiculous levels and then beat an equally hasty retreat. You can't help but respect a stock that makes you money no matter which way it moves.
Once the "Global Instant" real time data stream hits your desktop, you'll be privy to the trades as they happen. We should stream our first beta-test within the next week and if all is well, you can expect the roll-out within 30-45 days.
As I mentioned a week ago, the gap between price and value is rapidly diminishing.
Once values begin to rise after the next round of earnings, you'll see the number of selections increase incrementally, unless earnings disappoint, which would result in a situation where we could experience continued narrowing which might potentially result in fewer selections.
If I ever really start to talk like that would someone please slap me? ;D
With AZMN trading 5X it's average volume today, it's not surprising we surrendered a penny. As I pointed out last night (foolishly I might add), some investors were up 60% in a few days and took their profits. Penny wise, pound foolish. That's OK. It gave us all another chance to buy the dip.
More dip = better party.
Pass the chips please..........
+ WSO POT CRFT
- VRTX NPSP RNWK CVTX
As always, Trade Safe!
____________________________________________________________________
Between the Lines
We all know the original Nic at Night story. Under the cover of darkness, because he was part of the Religious Right, Nicodemus came to ask Jesus the big Q.
"How do I get to Heaven?"
Jesus said, "Ye must be born again".
Things that make you say hmmmmmmmm
I wonder how being born again affects your genetic code? New creature, new code?
It shows up in how we talk, act, think, love and serve. If our strand defines who we are, and scientists can alter who we are through genetic engineering (remember we're sheep) then is it really a stretch that when Christ changes us, that the code changes too?
I'm sure someday modern science will offer an answer, but I'm satisfied today that my code did change, both morally and ethically. Friends from the old life don't even recognize me.
I'm serious, they walk right by me on the street and don't even speak.......
Be Blessed!
CT
_______________________________________________________________________