Tuesday, October 26, 2010 10:27 AM
***Reminder: IBD Meetup Meeting***
Tuesday, October 26th, 7pm
9170 W. St Rd 84, Conference Room
(In plaza between Nob Hill and Pine Island)
Greetings IBD Meetup Group:
A friend of mine told me the other day, "There was a tremendous turnaround in the market today. A stock brocker who jumped out of a window on the twelfth floor, saw a computer screen on the seventh floor and did a U-turn."
Well, this week has been an exciting week in the Markets. They start the day strong, pull back, and then come right back up. The Market Pulse still has the current outlook: "Market in confirmed uptrend." Distribution Days: 4 for NYSE composite, 3 for the S&P 500, and 2 for the Nasdaq.
Keeping track of the Market's Direction and distribution days will help you manage your portfolio. At our meeting Rottem (Rod) Tal-Shahar will explain the CAN SLIM principles and the importance behind tracking the distribution days. Paying attention to the number of distribution days can protect your portfolio. Make sure to visit our meeting Tuesday night to learn more.
Have you ever purchased a stock that you thought was ready for a "breakout", only to find out it quickly reverses in the opposite direction? Maybe your lucky to sell your stock for a small profit (We all know you can't get hurt taking a profit) or your 8% sell rule was triggered. At that point you might be thinking..."I reviewed the CAN SLIM principles, I checked the charts, and I even rubbed my lucky rabbit's foot...What happened?"
After any buy or sell you should review your transactions. It is possible your stock's volume was insufficient or possibly market weakness.
Here is where many of us tend to make a mistake that can hurt the future earnings of our portfolio. We might be so upset with the result of our purchase we say, "...I'm over that stock...I will never look at that stock again...they are off my list..."
Instead of being angry at the stock, don't let your ego and emotions influence your decisions, this is the perfect opportunity to move that stock back to your watch list. Monitor your stock, because it could be forming a base on base pattern and emerge to new highs with tremendous gains.
At our meeting, Rod will review and demonstrate the chart patterns showing us the buying opportunities. In addition to the buying opportunities, Rod will show us the patterns that indicate it is time to sell.
If you have been attending our IBD Meetup Group meetings, you are well aware of the tremendous gains of the companies on our IBD watchlist (THANK YOU, Rod). Also, your reward is a growing portfolio.
If you have not visited our meeting, or thinking about it - but just not sure if you can make it, consider this: Make YOUR portfolio a priority. Make the time for yourself to be at the meeting. These meetings provide great information to help you be successful. Think of our short time together as a small investment in your financial success.
In this financial world, you can never stop learning and Rod will give you the "real deal" about CAN SLIM.
It is a great gesture to help a good friend or Family member become successful too. Bring a guest.
TUESDAY, TUESDAY, TUESDAY! Mark your calendars.