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Short-term Cautious

As I have mentioned for the last year or two, I still think the Nasdaq Composite eventually gets to its old March 2000 high of around 5100-5200. It will probably get there over the next 6-18 months, however, it will not be an easy ride up. There will be pullbacks, shakeouts, and quick corrections along [...]

By |2016-11-26T07:10:49-04:00January 4th, 2015|Tags: , , , , , |

Icahn’s Influence

Carl Icahn is affecting the stock market in ways he might not realize. Let me explain. Icahn is an activist investor. The basic premise behind activist investing is that the shareholder takes an equity stake in a company and uses it to put pressure on its management. The objective is to get management to increase [...]

By |2016-11-26T07:10:49-04:00June 11th, 2014|Tags: , , , , , , , , |

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 [...]

By |2016-11-26T07:10:50-04:00December 29th, 2013|Tags: , , , , , , , , , , , , |

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 [...]

By |2016-11-26T07:10:51-04:00December 18th, 2013|Tags: , , , , |

A Seasonally Strong Time of the Year

Nothing has changed with my Fourth Quarter Game Plan that I outlined on 9/16/13. 1) There will be no Fed taper until next year. 2) The S&P 500 could see +5-7% upside from here, but individual stocks could potentially see significantly more upside. My feeling is that individual stock pickers will be rewarded more than [...]

By |2016-11-26T07:10:51-04:00October 17th, 2013|Tags: , , , , , , , , , |

Don’t Be Afraid of New Highs

I wrote a blog post recently about 5 stocks that could be higher by year-end. I discussed them in this video I did for Yahoo Finance. I received many comments about this post and the most common one was: "How can you pick stocks that have already gone up so much???" Here are my thoughts: [...]

By |2016-11-26T07:10:51-04:00August 29th, 2013|Tags: , , , , |

Pay Attention to Price Action

Back on July 22, 2011, I was long 6 stocks. A sharp trader friend of mine looked at the 6 charts and said: "Those are REALLY good setups, if they fail, the market is screwed." Two trading days later, I got stopped out of the 6 stocks and went into 100% cash (I wrote a [...]

By |2016-11-26T07:10:53-04:00January 2nd, 2013|Tags: , , , , , , , |

The Market is a Beast of its Own, Respect it!

In the fall of 1987, there were 11 days of distribution (heavy volume selling) BEFORE the October 1987 crash. In September 2001, the market was looking horrible, no stocks were setting up, and out of nowhere...9/11 happened. Fast forward to today. In late September/early October the market experienced heavy distribution. I went to 100% cash [...]

By |2016-11-26T07:10:53-04:00October 29th, 2012|Tags: , , , , |

A Few Words of Caution

Every night, I go through my stock screens and look at approximately 1,000 stocks. Why? Because this is the way I was taught to evaluate the overall health of the market. If I find tons of strong fundamental companies building sound technical bases, breaking out on strong volume, and holding their gains, I feel confident about exposing my capital [...]

By |2016-11-26T07:10:55-04:00July 26th, 2011|Tags: , , , , , , , , , , , , , |

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