MightyMO : Rob The Stock Markets Blind: Stock plays for hump day Wednesday

Solar Stocks on Fire. Shares of major solar companies are soaring. The media is providing all kinds of reasons why. Some are advising caution, others are telling you to ride the wave. As always, I have no interest in 'why'. I start and look at Price and Volume and go from there to make a judgment. That said, I tend to shy away from solar stocks, they're so volatile and unpredictable.

...In case you would like to follow our stock trades up to the very minute. I try to 'print' the trade within a minute or seconds on 'Stock Twits' (STOCKTWITS.COM) before I update them on here. You can follow me on stock twits by going to stocktwits.com and signing in (it's free). Then follow ROBMARKETBLIND.

Who is that guy who said "Sell in May and Go Away"? Probably the same guy who keeps saying the 'market is oversold'! The rally shows no signs of abating. Both pullbacks and buying stocks hitting Highs have been buyable so far this year, and just when many media gloom and doomers thought a rest or downturn might be in the cards, the rally has actually accelerated to the upside. The trend is your friend. Don't fight the FED. Don't fight the tape! Play it for all it has, it won't last forever. Right now Price is King!

8:00AM cst....More to come. I'll be logging on here periodically during the day with possible trades and comments. More comments after the portfolio stock listings.

8:07...Stocks I watching are ETN, GM, DTV, HLF, and ABFS. ETF's I'm watching are the Japan DXJ snd EZJ and the housing ETF, ITB.

8:40 As noted on Stocktwits a moment ago, bought 400 shares of the Japan ETF, EWJ at 12.32.

9:30am ... Market remains strong. As I stated in my opening remark, solar stocks are too unpredictable. Solar stocks are down today. That's why I generally stay away from them.

9:35am ... Our portfolio cost basis is around $85,000. I have about $100,000 in the account for trading purposes. Last week the portfolio gained $1,000. At that rate, for a full year, it will net $52,000. That's more than target (30,000 - 40,000) on a $100,000 portfolio is excellent in any analysts' book

10:18am ... As stated on stocktwits, moments ago sold all of DISH at 39.53 and; bought 50 more shares of CBS at 52.12. Are you seeing my pattern here, selling weaker stocks to cut losses and adding to winning positions. Over time you'll see this work out.

PICTURES OF THE DAY

LADIES OF THE DAY

MOVIE SPOTLIGHT - STAR TREK INTO DARKNESS - NOW PLAYING

GUY for the Week pic

HENDRICKS

MO's picture of the day

Classic Auto of the Day

55 BUICK

Thought for the day

Howard Schultz, one of my favorite CEO's in the entire land.

There are moments in our lives when we summon the courage to make choices that go against reason, against common sense and the wise counsel of people we trust. But we lean forward nonetheless because, despite all risks and rational argument, we believe that the path we are choosing is right and best thing to do. We refuse to be bystanders, even if we do not know exactly where our actions will lead.” ― Howard Schultz,

VINTAGE LADIES OF THE DAY

Ann-Margaret

1942 pose

Sophia Loran

News

THE STOCK MARKET INDICATOR

"What seems too high in price and risky to the majority usually goes higher eventually, and what seems low and cheap usually goes lower." This famous statement is from William O'Neil in his best selling book, How to Make Money in the Stock Market.

There are numerous indicators measuring everything from sentiment to fundamental ratios to technical chart patterns. Every one of them is subject to interpretations which can result in incorrect decisions.

Even if some of these indicators had predictive value, on any given day there are so many potential news events that could change market direction that it is impossible to keep track of them all.

But there is one indicator, one core piece of information, that is always up to date and always correct. That piece of information, is price. And particularly the closing price at the end of every trading day. All the news, inside information, economic and fundamental data available, is reflected in that closing price. Price is the ultimate stock market indicator.

The buying high price strategy works whenever the market is accommodating and the market is certainly in an accommodating mode.

THE FEDERAL RESERVE SYSTEM AND MARKET DIRECTION

My approach has always been to ignore the predictions and forecasting from the market media and tune in to the music from the Federal Reserve and stay with the trend. I have found out after a very long experience in the stock market, is to never fight the FED. As you all know, the FED implemented a process to rescue the US economy from the brink of a depression starting in 2008. It consisted of buying bonds and risky assets to pump money into the economy. It has been known as QE. Even with all the criticism , the economy has managed a recovery with unemployment declining, with the economic numbers pointing to further expansion and the housing market has definitely improved. ------------------------------------------------------- My MAJOR stock market axioms.

1. If the stock you purchased is going the wrong way, YOUR BEST AND SMALLEST LOSS IS YOUR FIRST LOSS (cut your losses short)

2. As best as you can, the market can be very volatile, NEVER LET A PROFIT BECOME A LOSS (sell before it drops below your cost basis)

3. Be on the lookout for stocks hitting their first 52 week high or all time high. The chances are excellent it will continue to hit new highs. BUY WHEN A STOCK HITS IT'S FIRST HIGH. A STOCK'S FIRST HIGH IS USUALLY IT'S LOWEST HIGH

4. Don't hesitate selling a stock if the trend has changed or market direction has changed. DO IT FAST.

5. When you have a winning stock, buy more of it and add to position. LET YOUR PROFITS RIDE.

6. IF you are in a position where you can't watch the market, sell your positions. One can always buy back the stocks.

7. Do take advantage of market irrationability. There are excellent opportunities when this happens. I will be relating these opportunities in future postings. It is the basis for the ROB the Markets Blind portion of my strategy.

8. Avoid people who are overly negative on the market. They don't make money consistently and you won't either. (Joe Granville was negative on the market for ten years (1990-1999) during one of the best 10 year bull stretches in history).

9. You're not in a contest to see how many picks you got right. Remember you goal is to make an overall profit.

10. NEVER, DON'T EVER, FIGHT THE FED

Stock plays for hump day Wednesday

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