Monthly Archive: May 2003

Bad News Bulls?

Yes, stock prices moved higher last week, but the lofty level of the MTI continues to give me cause for concern. You may ride the rally for all it’s worth, but be on the lookout for a preliminary down signal from the Price of…

Daily Update Thursday, May 29, 2003

The market failed to hold onto its big gains for the second day in a row. This suggests that smart money might be taking profits. Prudent Investors should continue to remain cautious at this point. Aggressive Investors and Traders should play the market up or down as they see…

Daily Update Wednesday, May 28, 2003

The market shrugged off a poor Durable Goods report and rallied on news of a stronger dollar. Prudent Investors should remain cautious. Aggressive Investors and Traders should go with the flow. If you are “Riding the Wave,” we are short with “Worst Stocks Over $10.00.” We will cover any…

Daily Update Tuesday, May 27, 2003

Robust housing sales and improved Consumer Sentiment Index drove stock prices sharply higher today. The Bulls took over Wall Street. The facts underlying the economy do not support the euphoria shown. Nevertheless, the market is rebounding sharply. Prudent Investors should remain cautious. Aggressive Investors and Traders should go with…

Economic Stimulus Package.

As stated last week, investors are buying on the dips. Therefore, this downturn, which started on Monday, is likely to be fitful and sporadic. As of today, we have not seen a Friday-over-Friday downturn, so we need to wait and see what happens. Nevertheless, Prudent Investors should be employing defensive…

Daily Update Thursday, May 22, 2003

The Bulls took over Wall Street today, driving prices higher. Nevertheless, our market timing indicators are still lower on a week-to-week basis. Prudent Investors should remain cautious. Aggressive Investors and Traders should play the market as it develops. There is likely to be a pre-holiday bounce tomorrow. If you…

Daily Update Wednesday, May 21, 2003

The market was relatively flat today, although there were more advances than declines. Prudent Investors should continue to remain cautious, by selling covered calls, buying puts and raising stops. Aggressive Investors and Traders should be playing the market to the downside. If you are “Riding the Wave,” we are…

Daily Update Tuesday, May 20, 2003

Neither a case of mad cow disease in Canada nor an orange alert here in the U.S. of A. could sink the market today. Prudent Investors should continue to remain cautious, by selling covered calls, buying puts and raising stops. Aggressive Investors and Traders should be playing the market…