TODAY’S THOUGHTS: IT IS ONLY GOING TO GET BETTER
I commented earlier on Twitter how the past few weeks have brought a drought of new investment candidates. I have a fairly stringent set of criteria I look for in order to take the time to research, take a position and publish a report for your perusing.
I take the time at the close of every trading session to go through a set of stock screeners searching for initial candidates to consider. This happens regardless of whether I am 100% long, 100% cash or somewhere in between. If I find a name that looks like it could be the next SYNC, AUTH or the many others that have brought in 20% plus gains this year, I'll begin accumulating shares. If I am bearish at the time - meaning my trend indicators are all pointing down - then I will put it on ice and wait for the market to become more accommodating before I invest.
Either way, rain or shine, I go through this process each trading day. It takes one day of missing my daily routine to miss out on a potential 100% gainer over the span of a few months. The thought of missing such an opportunity, along with the excitement that comes with hitting a home run is what drives me. To this day, I still get the same feeling in my gut when I spot an opportunity that has profit written all over it. The feeling of excitement and anticipation never goes away. Neither does my hunger to win.
If I can help you guys win or even better, help you LEARN to win on your own then my job is done. I hope that I have accomplished that to some extent over the past year and a half of keeping this blog. In the future, I hope to make it even better with more in-depth reports on individual stocks, as well as dissecting the markets in a unique manner that cuts through the garbage and arrives at the essence of price action. Price, volume and trajectory points are all that is needed. Clean, neat, simple and monstrously effective.
I will be taking a look at the S&P 500 from a technical perspective in the review upcoming this weekend. It should be noted that the S&P 500 today bounced exactly at the crossover point of the generational trajectory from the early 1970s and the important trajectory born at the 2009 lows. This trajectory crossover point is what led me to believe that the bottom in the markets would be seen by Wednesday or Thursday, as noted in the weekend review. In the same review, I also noted that "the snapback will vicious." Today was the biggest single day gain thus far for 2012.
I believe we have seen the lows for June and the rest of the month will be generally bullish in spirit. With that said, I await the turn of my short-term and intermediate-term trend indicator to make an addition to a measly long exposure in the portfolios of 30%.
