Thursday, June 11, 2009

MARKET COMMENTARY (6-10-09)

Warmaster Horus, Commander of all Chaos forces


Look, it's normal to be uncomfortable when the market declines (if you are long), but please, don't pollute my blog with unnecessary panic-inducing comments. You are scaring the others. When I start selling like there is no tomorrow, that's when you should be really scared, and so far, that hasn't happened. All I'm saying is, "calm the fuck down".

We are still in the range and there will be an explosive move. My bets are all currently on the long side.




I noticed that some of you freaked out yesterday. If you paid attention to the SPX chart I provided for you the night before, you didn't have to worry. Charts are supposed to help you leave emotions out of your decisions, and I suggest you start applying that lesson right away.

Here are some more setups to add to the watch list. My parameters were stocks $3-5 with 100k+ volume:



















2 comments:

Me XMan said...

LOL! "Calm the fuck down!" That's a good one. HAHAHAHA!

David said...

Hi John,

Would like to get your thoughts on IEC. It just started trading on the AMEX this week and looks like an undiscovered gem (no analyst coverage yet). It's 3.90 share and they earned $1.12 last year and they are projecting 25% revenue and 100% earnings growth for 2009. It's P/E is 3 and the chart is perfect.