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Short-term Cautious

As I have mentioned for the last year or two, I still think the Nasdaq Composite eventually gets to its old March 2000 high of around 5100-5200. It will probably get there over the next 6-18 months, however, it will not be an easy ride up. There will be pullbacks, shakeouts, and quick corrections along [...]

By | January 4th, 2015|Tags: , , , , , |

Icahn’s Influence

Carl Icahn is affecting the stock market in ways he might not realize. Let me explain. Icahn is an activist investor. The basic premise behind activist investing is that the shareholder takes an equity stake in a company and uses it to put pressure on its management. The objective is to get management to increase [...]

By | June 11th, 2014|Tags: , , , , , , , , |

Profit Taking In January?

90% of your success as a trader should come from the work, research and effort you put in OUTSIDE of market hours. That's why I recommend traders do post analysis of their work and study market history. Since 2013 was a very strong year for the markets, we could possibly see some profit taking in January [...]

By | December 29th, 2013|Tags: , , , , , , , , , , , , |

A Story About Short Selling

Back in 1999, there was an Internet company called CMGI. For those of you who remember, the stock was INSANE! Split adjusted, it went from 0.30 cents to $120. After this happened, I spoke to a very sharp friend of mine who was managing a $2 Billion hedge fund. His exact words were: "Joe, this [...]

By | December 18th, 2013|Tags: , , , , |

A Seasonally Strong Time of the Year

Nothing has changed with my Fourth Quarter Game Plan that I outlined on 9/16/13. 1) There will be no Fed taper until next year. 2) The S&P 500 could see +5-7% upside from here, but individual stocks could potentially see significantly more upside. My feeling is that individual stock pickers will be rewarded more than [...]

By | October 17th, 2013|Tags: , , , , , , , , , |

Don’t Be Afraid of New Highs

I wrote a blog post recently about 5 stocks that could be higher by year-end. I discussed them in this video I did for Yahoo Finance. I received many comments about this post and the most common one was: "How can you pick stocks that have already gone up so much???" Here are my thoughts: [...]

By | August 29th, 2013|Tags: , , , , |

Could the NASDAQ 100 Play Catch Up?

Picture this scenario. You're a big fund manager and you came into the year cautious because of the Fiscal Cliff. Now, the market has started the year off strong. You already underperformed last year (as did most money managers), and you don't want to underperform TWO years in a row. You're beginning to feel some pressure and [...]

By | January 30th, 2013|Tags: , , , , , , , , , , , |

Pay Attention to Price Action

Back on July 22, 2011, I was long 6 stocks. A sharp trader friend of mine looked at the 6 charts and said: "Those are REALLY good setups, if they fail, the market is screwed." Two trading days later, I got stopped out of the 6 stocks and went into 100% cash (I wrote a [...]

By | January 2nd, 2013|Tags: , , , , , , , |

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