Why I Love Carl Icahn
Everyone on Wall Street knows that Carl Icahn is a billionaire activist investor; but for the longest time, when people heard his name, he was associated with words such as: corporate raider, bully, and ruthless. Earlier this year, something happened that changed all this. He made a few TV appearances that allowed the general public to see the REAL Carl Icahn. Mr. Icahn has done hundreds of interviews throughout his career, but his appearances earlier [...]
Bernanke’s Not Going To Taper
I have to start with a small disclaimer: I'm a stock trader, I'm not an economist, and I don't follow the bond market. That being said, I'm still allowed to have an educated opinion on the Federal Reserve because I do follow their moves, and they are very influential on the overall stock market. The next Federal Reserve meeting is on Sept 17-18, 2013. We are already starting to hear talks that the Fed might taper [...]
The Main Reason The Stock Market Keeps Going Higher
Back in the late 1990's, my friends LOVED the stock market. We weren't elite, we didn't have much money, but we loved talking about stocks. I had friends who were obsessed with $CSCO $DELL $MFST $INTC etc. They would watch their growth stocks go up, talk about how hot Maria was (and still is), and they simply enjoyed the stock market. I even had some friends who ran $10,000 into $500,000+ trading options in $YHOO [...]
Price Action Is All You Need
In the past week, I received 3 unsolicited emails from people who attended my seminars. By the way, this is not a plug for them, as I don't plan on running one any time soon. I am writing this to make a point. During my seminars, I constantly stress the importance of watching price action and following the leading stocks. The emails I received last week all said the same thing. The attendees were thanking [...]
New Highs For the Market, Now What?
Last week, I wrote a blog post titled: Two Reasons The Market Will Make New Highs Later This Year. I positioned myself for a move to the upside, but I certainly didn't expect new highs in a week!!! As my good friend @ZorTrades says: Strong markets and strong stocks don't give people time to get in. So now the question becomes, where do we go from here? Here are a few thoughts: 1) It looks [...]
Two Reasons The Market Will Make New Highs Later This Year
REASON #1 As many of you know, I use the price action of leading stocks to help me determine the overall health of the market. Everything else is just noise. When the market corrected in June, I thought we could be heading into a deeper correction...but something interesting happened. As I did my nightly screening work in June, I noticed that many leading stocks held up EXTREMELY well. And it wasn't just 3 or 4 stocks, [...]