August 2002 Commentary Archives

9-3-02

Another horrible day for the market, if your long, and for Phatdad as well. 3 days of distribution in the Dow and S&P 500 in the last 5 trading days, not a good sign if your holding long positions. Add to that the fact that September is traditionally one of the worst months for the market and there's not much reason to stay long anymore. Once again however low volume, which as Phatdad stated in Friday's commentary leaves us with no strong market direction to work with but the advantage,as they say in tennis, is definitely down.  Only 2 stocks showed up today on Phatdad's long screen and 17 on the short screen. PhatDad is going to post a pick on the short side for tommorrow, however, Phatdad must caution everyone to keep tight stops, take profits of 10% or more when you have them, and only have 1 position at risk at any one time. Once a stock shows a gain of 5%, move your stop to break even, then you can take another position. Be sure to check back Tommorrow evening for Phatdads Free Stock Picks.

9-4-02

PhatDad made a mistake today with his sell short limit order on NAV, so the order never executed. Therefore, Phatdad is posting the pick again for tommorrow, and this time he won't make a mistake. All three indexes tried to recover from yesterday's big dip, volume picked up a bit over yesterday's level but again is not heavy enough to lead Phatdad to believe that the market will move higher. Despite the fact that 22 stocks showed up today on Phatdad's long screen and only 3 on the short screen. Phatdad is not going to let the market fool him again. As I said yesterday Phatdad must caution everyone to keep tight stops, take profits of 10% or more when you have them, and only have 1 position at risk at any one time. Once a stock shows a gain of 5%, move your stop to break even, then you can take another position. Be sure to check back Tommorrow evening for Phatdads Free Stock Picks.

9-5-02

This time Phatdad forgot to place his sell short order for NAV all together. So once again no execution. Phatdad is posting the pick again for tommorrow, along with MW  Men's Wearhouse Inc and PhatDad will be taking short positions in both of these stocks.  All three indexes dropped today, which was not suprising, volume was flat in the Dow and S&P 500 but picked up slightly in the Nazdaq. However, volume still remains light which leaves PhatDad still unsure of which way the market is headed short term but the advantage is certainly down. 12 stocks showed up today on Phatdad's long screen and 7 on the short screen. Phatdad still must caution everyone to keep tight stops, take profits of 10% or more when you have them, and only have 1 position at risk at any one time. (Phatdad is going out on a limb by having 2 positions at risk) Once a stock shows a gain of 5%, move your stop to break even, then you can take another position. Be sure to check back Tommorrow evening for Phatdads Free Stock Picks.

9-6-02

Phatdad got both orders placed and executed today with no problems, I kinda wish I would have forgot to place them after seeing how things turned out. Today could be considered the first day of a new rally with all 3 major indexes up, after correcting by at least 8%, but Phatdad is fairly certain that the market is headed back down next week. Worry over September 11th and the war with Iraq will certainly be more than enough to make the market stumble. If anything the pathetic volume today shows that there are still not enough buyers out there to get the market to rally higher. 31 stocks showed up today on Phatdad's long screen and 4 on the short screen. Phatdad still must caution everyone to keep tight stops, take profits of 10% or more when you have them, and only have 1 position at risk at any one time. (Phatdad is going out on a limb by having 2 positions at risk) Once a stock shows a gain of 5%, move your stop to break even, then you can take another position. Phatdad has no new picks at this time but, be sure to check back Monday evening for Phatdads Free Stock Picks.

9-9-02

All 3 indexes moved ahead today after being down early on. Volume once again was very light and declined slightly from Friday's level. Phatdad Got stopped out of MW today with a 5% loss. Phatdad has suffered 4 or 5 straight losses now  in the last couple weeks. Anytime that happens its best to take a couple of weeks off and re-evaluate your trades to see if any changes need to be made. Phatdad has decided to test 2 new trading methods over the next few weeks and will keep you posted on how its coming along. There will be no new picks posted  for the next 2 weeks but Phatdad will continue to write his commentary and in the commentary will list any stocks that he is watching from his new test system. Keep in mind we could get a follow through day in one of the major indexes as early as Wednesday. This would give us a better indication that the market may continue upward. However we will need to see some very strong volume on that follow through day in order to take it seriously. Remember, keep tight stops, take profits of 10% or more when you have them, and only have 1 position at risk at any one time. Once a stock shows a gain of 5%, move your stop to break even, then you can take another position. 

Phatdad's was watching 2 stocks for long positions today

GLG, which was up slightly

RGLD which roared up 12.7%

For tommorrow PhatDads is still watching GLG  as a buy.

9-10-02

All 3 indexes moved ahead today again on light trade, although volume did pick up a bit over yestreday's level. Phatdad Got stopped out of NAV today with a 5% loss. which means Phatdad has suffered 6 straight losses now  in the last couple weeks. Anytime that happens its best to take a couple of weeks off and re-evaluate your trades to see if any changes need to be made. Phatdad has decided to test a new trading method over the next few weeks and will keep you posted on how its coming along. There will be no new picks posted  for the next 2 weeks but Phatdad will continue to write his commentary and in the commentary will list any stocks that he is watching from his new test system. Keep in mind we could get a follow through day in one of the major indexes as early as Wednesday. This would give us a better indication that the market may continue upward. However we will need to see some very strong volume on that follow through day in order to take it seriously. Remember, keep tight stops, take profits of 10% or more when you have them, and only have 1 position at risk at any one time. Once a stock shows a gain of 5%, move your stop to break even, then you can take another position. 

Phatdad's was watching 1 stock for a long position today

GLG, which was down slightly today