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8-8-02
Things are not looking too good for PhatDad
right now, The Dow and S&P 500 have given two follow through
confirmations in the last 3 days and PhatDad is holding 4 short
positions and only 1 long at this time. Volume still was not heavy
enough to scare PhatDad out of his "Shorts" though, and Phatdad
still believes that this is merely a fake out move up to sucker
everyone back in, before another deeper move down taking out the
July 24th lows. 40 stocks showed up on my long screen today, a
little more than the past couple of days, but still no where near
the 100 level, which you would expect to see on big moves up like
today. and just 11 on the short screen. Again
Phatdad would have to see much more volume and
well over 100 stocks on the long screen, before he would change
his mind on the short term direction of the market, however if the
major indexes record another follow through day tommorrow or early
next week you will see Phatdad start covering his shorts to limit
losses to his portfolio. PhatDad still believes that its
safer to sit on the sidelines a day or two and not take on
any new positions therefore, Phatdad has no new picks for
tommorrow. Be sure to check back Tommorrow evening for
Phatdads Free Stock Picks.
8-9-02
Things are still not looking too good
for PhatDad right now, The Dow and S&P 500 closed up
slightly today while the Nasdaq dropped. Volume dropped sharply
almost to the point of being anemic. The light volume is what gives
PhatDad the hope that the short term trend will head back downward
soon. The only question is will PhatDad get stopped out of his
"shorts" with losses before that happens. Again Phatdad needs to
keep his eyes peeled for another follow through confirmation next
week. If we get one Phatdad will have to act fast and cover his
shorts quickly before too much damage occurs. 40 stocks showed up
again today on Phatdad's long screen and
just 6 on the short screen. None of the 6 stocks on
the short screen met Phatdad's criteria for a low risk
entry. A few of the stocks on the long screen (ACAP, PIXR, &
EGN) flashed technical buy signals, and offered a low
risk entry point, but Phatdad could find no fundamental
reasons to buy. Phatdad has no new picks for Monday. Have a
safe week-end and be sure to check back Monday evening for
Phatdads Free Stock Picks
8-12-02
Things still
not looking good for PhatDad. The Dow and S&P 500
started to drop big early in the day but then recovered most of
their losses.Volume again dropped sharply almost to the point of
being anemic. The light volume is what gives PhatDad the hope that
the short term trend will head back downward soon. The only question
is will PhatDad get stopped out of his "shorts" with losses before
that happens. So far two of the four short positions Phatdad
recently acquired have bit the dust with 8% losses. Once again,
Phatdad must keep his eyes peeled for another follow through
confirmation later in the week. If we get one Phatdad will have
to act fast and cover his shorts quickly before too much damage
occurs. 14 stocks showed up today on Phatdad's
long screen and just 4 on the short screen. With this
complete lack of volume, Phatdad cannot find any new
picks for Tuesday. Be sure to check back tommorrow
evening for Phatdads Free Stock Picks.
8-13-02
Phatdad finally got
the drop he was looking for late in the day today. Volume although
again very light did pick up over yesterdays level, which gives us a
day of distribution in the markets. The drop didn't help Phatdads
portfolio much today, but look for some good things to happen later
in the week. Phatdad's only long position (WLM) took another hit
today, PhatDad's stop on (WLM) is at 13.49 so don't look for
this position to be around much longer. Phatdad must
still keep his eyes peeled just in case we would get
another follow through confirmation later in the week. If we
get one Phatdad will have to act fast and cover his shorts quickly
before too much damage occurs. 11 stocks showed up
today on Phatdad's long screen and 12 on
the short screen. However due to the light
volume Phatdad cannot find any new picks for
Wednesday. For now keep your "Shorts" on, and be sure to check back
tommorrow evening for Phatdads Free Stock Picks.
8-14-02
We got another
follow through day today in all three major indexes, on the 6th day
of the newest rally,inside a rally, that started on August 6th.
Volume was heavier than yesterday's volume but still not above the
50 day average. Even so, we have now had 3 follow through days in
the Dow & S&P 500, plus 4 follow through days in the Naz
since the initial start of the official rally on July 24th. In
addition to that the inter day low on the 24th has held up. Adding
to that, Phatdad has recently got stopped out of 3 of his 4
short positions at a loss. Put all of this together and Phatdad
really has no other alternative but to assume that the short term
trend has changed for the better and that it is now time to look
for 1 or 2 long positions to get into. 23 stocks
showed up today on Phatdad's long
screen and just 8 on the short screen. WLM made
up a lot of ground today after almost getting stopped
out yesterday. After what we witnessed today Phatdad has no
choice but to raise his stop to break even on his CPB position.
Phatdad does have a new pick for tommorrow on the long side.
However, don't go jumping out of your "shorts" just yet. Keep
your stops tight and see what happens over the next couple of days.
The market may just be playing with us, as it often does.Be sure to
check back tommorrow evening for Phatdads Free Stock Picks.
8-15-02
Another up day in
the market today, volume was again light, but picked up slightly
over yesterday's level. Did anyone else take Phatdad's pick for
today in (INTL), if you did you should be up about 4% like Phatdad.
Its always nice to get a little cushion like that on the first day
of a new position. If you check out Phatdad's recent short
picks in Phatdad's past picks
archive. you'll see why its so important to set your stop
when you enter a new position and stick with it. PhatDad got stopped
out of (PSS) with a small 7% loss yesterday however had Phatdad
not had a stop set he would now be down over 13% in that position.
34 stocks showed up today on Phatdad's long
screen and just 1 on the short screen.
Phatdad does have a new pick for tommorrow on the long side.
However, still hold on to your "shorts" , but keep
your stops tight and see what happens over the next couple of days.
The market may still decide to change directions on us, as
it often does.Be sure to check back tommorrow evening for
Phatdads Free Stock Picks.
8-18-02
Volume dropped off
Friday which is exactly what you want to see when the market drops
like the Dow and the S & P 500 did today. Phatdad took a new
position today in (DNY) DNY moved higher early and then retreated
for a modest gain slightly below Phatdad's entry point. Phatdad's
position in INTL is already up over 7% in just 2 days (don't you
just love it when that happens) 9 stocks showed up
today on Phatdad's long screen and 6 on
the short screen. The lack of volume in the
markets Friday prevents PhatDad from having any new picks for
Monday morning. Be sure to check back Monday evening for
Phatdads Free Stock Picks.
8-19-02
PhatDad cheated a little today
by already taking a position in his new pick for
tommorrow. (CVH) Coventry Health Care Inc displayed a short term
break out today which was also part of a long term 9 week cup
with handle break out as well. Earnings in the last 2 quarters
were up 100% and 67% respectively and the 5 yr EPS growth rate
currently sits at 36.85%, all this with a p/e under 20, was
just too much for Phatdad to pass up. Add to that another follow
through day confrimation in all 3 major indexes. Volume however
light did pick up over Friday's level. 32 stocks showed up
today on Phatdad's long screen and only
1 on the short screen. Phatdad finds this lack
of conviction among buyers troubling to say the least however,
PhatDad does have a new pick for tommorrow morning in
(CVH). Be sure to check back tommorrow evening for
Phatdads Free Stock Picks.
8-20-02
The market retreated
a little today which was to be expected. Volume was once again light
but NYSE volume did pick up slightly over yesterday's level, making
it a day of distribution in the Dow and the S&P 500. Nasdaq
volume declined which is what you want to see when an index
retreats. PhatDad's portfolio did well even in a falling market. All
4 of Phatdad's longs finished up and Phatdad's 1 short position
(CPB) took a dive. (CPB) showed up again today on Phatdad's
short screen so for those of you who think short is the way to
go you may want to consider taking a position in (CPB). 19
stocks showed up today on Phatdad's long
screen and 7 on the short screen. PhatDad
does not have any new picks for tommorrow morning. A
couple of stocks did look good technically but failed to meet
Phatdad's fundamental criteria. Be sure to check
back tommorrow evening for Phatdads Free Stock Picks.
8-21-02
Another follow
through day confirmation was recorded in the Nasdaq today. The
market looks better and better every day now. The Dow and the
S&P500 put in a gain of about 1% as well after being in the red
earlier in the day. PhatDad has a 17% gain in INTL in just 6 days.
Don't you just love it when that happens. So much for Phatdads
advice about adding a short position in CPB, lost a 6%+
gain from yesterday and got stopped out at break even. 38
stocks showed up today on Phatdad's long
screen and 6 on the short screen. PhatDad
does not have any new picks for tommorrow morning. A
couple of stocks did look good technically (PENN, SU,SNIC,ANSI,GISX)
but they all failed to meet all of PhatDad's Stock Selection Criteria. GISX reported earnings increases in
the 4 quarters prior to last quarter of 60%, 63%, 52% and 68%
but last quarters earning increase slowed to just 13% in
addition to that operating income in the last quarter was 59.7
million with an operating cash flow of just 12 million, which was
down from 51.9 million the prior quarter, where did all the
money go! Makes you wonder. Be sure to check
back tommorrow evening for Phatdads Free Stock Picks.
8-22-02
Another follow
through day confirmation was recorded in the Nasdaq today, two days
in a row. We would have had a follow through in the Dow and
S&P500 but NYSE volume dropped slightly below yesterdays
level. The market looks good but the lack of big
volume is still a big concern. Even though PhatDad was
able to post a new pick for tommorrow morning in
ANSI. A couple of other stocks looked good technically as well
(WEC, SFNT, JDEC) but they failed to meet all
of PhatDad's Stock Selection
Criteria. 21 stocks showed up
today on Phatdad's long screen and 4 on
the short screen. Again on a big day up like today we should be
seeing well over 100 stocks on the long screen, the overall lack of
volume is whats keeping most names off the list. Be sure to check
back tommorrow evening for Phatdads Free Stock Picks.
8-23-02
PhatDad's long
portfolio took a hit today, which is as you would expect on a big
down day like today in the market. The only good thing about
today's action was the complete lack of volume. Volume dried up
across the board which is exactly what you want to see when the
market drops. Only 5 stocks showed up
today on Phatdad's long screen and 5 on
the short screen. Again the complete lack of volume in the
market makes it impossible for PhatDad to come up with any new picks
for Monday morning. Be sure to check back Monday evening for
Phatdads Free Stock Picks.
8-26-02
Seemed like a pretty
quiet day in the market. It was nice to see that the indexes were
down but recovered and closed up for the day.PhatDad's long
portfolio isn't making much head way at this time however the market
appears to be acting as it should with the exception of the low
volume. Only 7 stocks showed up
today on Phatdad's long screen and 4 on
the short screen. Again as PhatDad stated on Friday the
complete lack of volume in the market makes it impossible to
come up with any new picks for tommorrow
morning. Be
sure to check back Tuesday evening for Phatdads Free Stock
Picks.
8-27-02
Not a good day in the market for
PhatDad. Got scared out of INTL with a small gain of 3.3%, this one
was up over 17% just 4 days ago, PhatDad knows in these market
conditions he should have locked in a gain of 15% on this stock when
he had it, but he didn't. One thing was certain PhatDad was not
going to add insult to injury by ending up losing money on this
trade, so he got out at 23.13. PhatDad also got stopped out of
CVH with a hugh loss of 10%, PhatDad never even should have taken
that position if the risk was that high. A distribution day was
recorded in all 3 major indexes, distribution is not excessive yet,
but if we get another distribution day this week we could be in
trouble on the long side. Volume was still below average. I don't
know what else can be said about that. 13 stocks showed up
today on Phatdad's long screen and 10 on
the short screen. PhatDad does have a new pick for
tommorrow in ONB (see below) Be sure to check back tommorrow
evening for Phatdads Free Stock
Picks
8-28-02
Another bad day for
PhatDad. He suffered another 10% loss for the second day in a
row. All 3 indexes pulled back again today on very light trade, much
lighter than yesterday. Even though volume is light If the market
can't show some kind of strength with-in the next couple of
days we may be in for a serious test of the July lows, which is bad
news for Phatdad. 5 stocks showed up
today on Phatdad's long screen and 7 on
the short screen. Because of low volume and the fact that
right now PhatDad is unsure of the current market direction, PhatDad
does not have any new picks for tommorrow
morning. Be sure to check back tommorrow
evening for Phatdads Free Stock Picks.
8-29-02
Not a horrible day in the markets, Another day of
distribution recorded in the Dow and S&P 500, although they did
almost fight their back to even. Good day in the Nasdaq, that may be
a pivotal point in the start of a new rally. The Dow and S&P500
have now had 3 distribution days in the last 10 trading days and 4
in the last 15 trading days, not a good sign for the bulls, but the
good day today in the Nasdaq adds to the confusion on which way
Phatdad thinks the market will move next. 14 stocks showed up
today on Phatdad's long screen and 7 on
the short screen. Because of low volume and the fact that
right now PhatDad is unsure of the current market direction, PhatDad
does not have any new picks for tommorrow morning. Be sure to check
back tommorrow evening for Phatdads Free Stock
Picks
8-30-02
PhatDad is at a loss
for words, Again Not a horrible day in the markets, All 3 indexes
retreated but volume declined from yesterdays level, however, since
the market failed to rally at the weeks end PhatDad thinks that it
will probably continue its slide on light trade through next week.
If you click on Phatdad's Past Picks Archive below you'll see that
both Phatdad's long picks and short picks are showing a loss, which
tell Phatdad there is no clear market direction, and the very light
volume over the past few weeks confirms that. PhatDad got fooled by
the follow through signals that occured in all 3 indexes, but the
key ingredient was missing...VOLUME...14 stocks showed up
today on Phatdad's long screen and 3 on
the short screen. Because of low volume and a host
of other factors Phatdad believes that its best to sit it out
for a few days, maybe as long as a week or two before taking on any
new positions. Phatdad is recommending you sell ONB on Tuesday
morning. The simple fact that the stock sold off hard today, just 2
days after taking the position, without first moving higher is
reason enough to dump it. PhatDad does not have any new picks
for Tuesday morning. Be sure to check back Tuesday evening for
Phatdads Free Stock Picks.
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