April, May, June & July meetings-market rally continues
Wednesday, May 6, 2009 1:00 PM
I had meetings scheduled for the middle of each of the months of April and May-one at the Bellevue Library and the other at Newport Hills library. Both libraries e-mailed me in early April that the libary had a conflict with our meeting room reservation so they cancelled them. Due to an accident in April, I have not felt on top of my game for several weeks. Now I find we our locked out of our usual rooms until July. I am working on finding alternate meeting locations but our inexepensive options are always limited. If anyone has an idea for a location next week or the next I will schedule a meeting and send a notice.
I would prefer to find a restaurant location like we have at Amates but in the Bellevue area. We may eventually have to charge a firm meeting attendance fee in the neighborhood of $10, payable in advance, in order to pay for reserved space when we need it. We are not there yet.
I would like to have a meeting soon to follow-through with your questions resulting from the education sessions which were part of the IBD metup Outreach Program. Also IBD now has some conditions/limitations on our activity if we are to retain their sponsorship support. We need to discuss that topic as well.
The current market rally has extended much further than I expected and has surprised many on Wall Street. Until this week the stocks moving up significantly are those most beaten down in January to March-value players were the purchasers. The rally started to broaden last week and the IBD 85/85 and IBD 100 indexs led the S & P 500, Dow and NAS last -that may mean more growth stock breakouts are ahead. So far only a small group of somewhat damaged CANSLIM stocks have broken out and advanced on good technical action. That could change now that some major clarity in economic and government dominated issues is apparent.
I will give you a more complete market and investment climate assessement soon either at a meeting or failing that by e-mail next week. If anyone wants to get some discussion going by e-mail in the interim just click on the mailing list menu item at ibd.meetup.com/2/.
Stephanie has a Lynnwood meeting scheduled on May 26.