THE BEAT GOES ON...

The early part of the day gave you an opportunity to buy in. We were flat to slightly down at the market open. We rallied up pretty strong at the end of the day and we are heading into the July options expiration tomorrow (Friday). Expiration Fridays tend to be flat or down days. I mentioned last night that if today was up strong, we could get a sell off on Friday. 95 points is kind of in between. I think we could be flat or down a bit tomorrow, especially since we have been up four days straight in the S&P 500 and five days straight in the Nasdaq. If we are flat...or down a bit, look at that as a buying opportunity for new trades...unless we start breaking below key support levels or moving averages. If you have made nice returns over the last few days, take some profits off the table but hold on to a portion of your position. We should pull back a little at some time, but I still think we will continue to move upward for a few more weeks. We had some big recommendations over the last few days. IBM, BIDU, AXP, and STEC lead the list. Many others have done well...but I won't list them all again. Use the trend analysis I taught you in the course to select your trades as well as manage your trades. If you have questions on how to do this, e-mail me and let me know. If you are still nervous about entering the market, paper trade these patterns and see how they do. We will always get opportunities to make money in the market...either to the upside or downside. When the market is trending strongly in a direction, you want to jump in and ride the trend. If the trend continues, the money you make will feel like "easy money". When the market trends sideways, it is often more difficult to make money and you can start to feel like you don't know what you are doing ("hard money"). I'm encouraging you to be more aggressive, but I'm not telling you to check your brain at the door. Set stops, watch the moves each day, and check the trends to see if they are still acting like trends. Remember the characteristics or fundamentals of an uptrend/downtrend that I covered in class (or will cover in class for those of you that are new to our program). These characteristics will be the clues as to whether or not we will likely continue the trend...or reverse it at some point in the future. Please take some time to send me your success stories so that I can get them posted.