My Favorite Stock Market Service
About 3 years ago, I met Joe Kunkle and he described his OptionsHawk service to me. I decided to sign up and I've been hooked on it ever since. In interest of full disclosure, I am not affiliated with his service or company. I simply want to pass along a great resource that I use and describe its main features: 1) The website is www.optionshawk.com. You can also follow him on Twitter @OptionsHawk 2) The [...]
It Happened AGAIN This Week!
Here are some notes from this past week: Sunday - Coming into the week (1/12/14), I was fairly aggressive long equities. When I ran my screens over the weekend, I found SO MANY setups. It was almost TOO scary how bullish I was getting on many individual stocks. Monday - Pre-market, I saw very positive news on 3 of my stocks. I was expecting a great day, but unfortunately we had a high volume selloff in the market. [...]
2014 Outlook
First of all, this is NOT a prediction post. I used to post them for fun in the past, but that's all they were...for fun. I'm not a big fan of predictions because 1) NO ONE knows where the market it going and 2) We are all allowed to change our minds based on the information the market gives us. As Scott O'Neil says: "We are not in the prediction business, we are in the interpretation [...]
Profit Taking In January?
90% of your success as a trader should come from the work, research and effort you put in OUTSIDE of market hours. That's why I recommend traders do post analysis of their work and study market history. Since 2013 was a very strong year for the markets, we could possibly see some profit taking in January as investors put off 2013 tax gains by selling in January 2014. I remember this happened in other recent strong years. [...]
The American Dream
“In 1923, seven men who had made it to the top of the financial success pyramid met together at the Edgewater Hotel in Chicago. Collectively, they controlled more wealth than the entire United States Treasury, and for years the media had held them up as examples of success. Who were they? Charles M. Schwab, president of the world’s largest steel company; Arthur Cutten, the greatest wheat speculator of his day; Richard Whitney, president of the [...]
A Story About Short Selling
Back in 1999, there was an Internet company called CMGI. For those of you who remember, the stock was INSANE! Split adjusted, it went from 0.30 cents to $120. After this happened, I spoke to a very sharp friend of mine who was managing a $2 Billion hedge fund. His exact words were: "Joe, this stock is a piece of shit and it's going back to $1." He was dead right! The only problem is...the [...]