|
| Upcoming Events |
Stockscores.com Stock Trading Clubs
The Stockscores.com Stock Trading clubs will resume their meetings in Calgary, Vancouver and Edmonton Canada again this fall. Dates, times and locations will be announced soon!
|
| Stockscores Holiday Closure |
I will be away from August 24th till September 10th, and will not be answering email during this period. The weekend newsletter will continue during this time, and I will answer your email when I return from vacation. The Stockscores.com website will continue to function normally during this period.
|
|
Stockscores.com Perspectives
For the week ending August 23, 2003
In this week's issue:
There are a lot of dead people who have said some pretty smart things. Throughout time, man has recorded these wise words so that some of us can draw inspiration or guidance from what mankind's great thinkers have put forth. In this week's newsletter, I thought it would be fun to look at some famous quotes from those who have stood out in history, and apply the thought to the stock market. My hope is that I can provide some inspired guidance for your investment pursuits.
"The destiny of man is in his own soul" - Herodotus
Nobody cares about your money more than you. If you want to be successful as an investor, recognize that you have to take control and make decisions for yourself. While you may use others for information important in the decision making process, the buy and sell decisions must ultimately be yours, and therefore, you must be an informed investor.
"Nothing splendid has ever been achieved except by those who dared believe that something inside them was superior to circumstance." - Bruce Barton
Most of us are average. To excel in the stock market, to actually beat the market, you have to do something that the crowd is not doing. You have to be one step ahead, and take advantage of the inevitable movement of the masses.
"Whatever you can do or dream you can, begin it. Boldness has genius, power, and magic in it." - Johann Wolfgang von Goethe
Ignore what the financial text books tell us, the stock market can be beat. But doing so requires determination beyond what the average man is willing to provide. Success in the stock market is simple, but not easy. Be bold.
"We are what we repeatedly do." - Aristotle
Are you continually losing in stocks? If so, then you must change the way you make investment decisions. Over the long run, luck or the lack of it does not matter. Figure out what your are doing wrong, and make changes. If you can not determine what it is that causes your failure, seek help to identify the problem.
"The great end in life is not knowledge but action." - Thomas Henry Huxley
What success you achieve on paper trading stocks means nothing. Back testing trading system and proving their success means nothing. To succeed as an investor, you must master your emotions and profit in real market conditions.
"We don't see things as they are, we see them as we are." - Anais Nin
Fundamentals do not matter to the stock market, it is the perception of fundamentals that move stock prices.
"You would make a ship sail against the winds and currents by lighting a bon-fire under her deck ... I have no time for such nonsens." - Napoleon Bonaparte
Do not fight the trend. Buying stocks during times of pessimism is a difficulat way to make money in stocks.
"Democracy does not guarantee equality of conditions - it only guarantees equality of opportunity." - Irving Kristol
The stock market is not fair.Back To Top
The best performing market in North America in recent weeks has been the TSX. With the optimism prevalent in Canada, I thought I would apply a buying Market Scan to this market, seeking stocks that were showing good potential. I ran the Long Term Breakout Market Scan to Toronto stocks. This Market Scan revealed 7 stocks which were breaking to new highs with Stockscores indicators that were in the right zones. I then inspected the charts individually to find those with best potential. Stocks that had already gone up a lot, or those that did not have good chart patterns were cast aside in favor of those indicating an uptrend was a good possibility. Here are the stocks that I think are worth checking in to further:Back To Top
1. T.RCC
The downward sloping line on this chart indicates the downtrend that was broken early in July, and followed by an optimistic consolidation. How do we know the market is gaining optimism? Because of the rising bottoms that I have highlighet with the upward sloping line. Finally, we have the stock breaking through a resistance point with strong volume support. This looks like a good turnaround chart example.
Back To Top
2. T.PEL
T.PEL is a similar turnaround chart pattern, with rising bottoms leading in to a breakout. Notice that the Sentiment Stockscore indicator has recently moved above the important 60 level, and the stock is breaking through resistance from a good chart pattern. My only complaint with this chart is the lack of volume supporting the breakout on Friday.
Back To Top
3. T.SDT.UN
T.SDT.UN is a conservative Trust Unit with a good looking chart. The Trust is breaking through resistance from an ascending triangle pattern, and has good Stockscores indicators. This Trust has been earning a 10.1% yield historically, and looks more likely to go up than down.
Back To Top
References
Get the Stockscore on any of over 20,000 North American stocks.
Background on the theories used by Stockscores.
Strategies that can help you find new opportunities.
Scan the market using extensive filter criteria.
Build a portfolio of stocks and view a slide show of their charts.
See which sectors are leading the market, and their components.
Disclaimer
This is not an investment advisory, and should not be used to make
investment decisions. Information in Stockscores Perspectives is often
opinionated and should be considered for information purposes only. No
stock exchange anywhere has approved or disapproved of the information
contained herein. There is no express or implied solicitation to buy or
sell securities. The writers and editors of Perspectives may have positions
in the stocks discussed above and may trade in the stocks mentioned. Don't
consider buying or selling any stock without conducting your own due diligence.
Back To Top
|
If you wish to unsubscribe from the Stockscores.com Weekly Perspectives or change the format of email you are receiving please visit here. Copyright 2003 Market Perspectives Inc.
|
