"The Market Toolbox" October 22, 2005
Published: Sat, 10/22/05
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The Market Toolbox : You are receiving this e-mail as a part of your free subscription. If you would like to change your e-mail settings please follow the instructions at the bottom of this e-mail. Welcome To The Market Toolbox for October 22, 2005 A Free Newsletter Service from Investing Systems Inc. In this issue:
Hello Everyone, This week we are looking at the market and what a market it is. It's all over the map. Do people really think that Google is worth that kind of money. Talk about irrational. We did see a slight comeback this week, 28.45% of stocks are trading above their 20 day moving averages as compared to 22.4% last week. The 50 day gave a little back as well with 25.42% now trading above it compared to 25.2% last week. The longer term moving averages have yet to give back much but the gap is narrowing. I am not sure if you understand why we measure the market this way. We don't like to track "the market" using the indices as they are too small in scope or improperly weighted. We just don't feel they give a broad enough view. That is why we measure using the number of DOW 30 or NASDAQ 100 stocks that are trading up for the year on a YTD basis. Today, the DOW 30 has 8 or just 26.6% and the NASDAQ has 39 stocks up for the year or 39%. This is up 5% this week for the NASDAQ and down 3% for the DOW. We like to measure market direction by watching the number of stocks trading over or below their own moving averages. We just think it makes for more accurate measurement of the overall market condition than just listening to some talking head say "The Dow closed down 60 and the NASDAQ closed up 16" give us a break. The new highs and new lows showed a huge gap in the numbers but look at the advancing shares -vs- declining shares. A real mixed bag.
That is why we think it is a stock pickers market. It's pretty clear that one must be in individual stocks to take some profit from the street this year. That is why we are featuring www.PeterLeeds.com as our Guru of the day.
Nobody comes close to discovering penny stocks like PeterLeeds.com. That is why they are North America's First Choice for Penny Stock Picks. If you wonder why we even mention "penny stocks" , it's like this... look at that chart up there. Do you think a MSFT or SUNW or MO will ever look like that again. I don't think so. How is Walmart ever going to get that kind of growth. It simply will never happen again. The party is already over for all the BIG name stocks. Peter Leeds is going to find the next big gainers. The one question remains... Will you be one of his subscribers when he does? I will be. I am not sure what it's going to take to turn the overall market back to the upside. It appears that this week the deep fast falling has stopped, but for my money the index does not seem to hold the answer, I'll take a good stock picker every time. Be sure to check out www.PeterLeeds.com, there is a lot to see over there and a very good free book about how to trade penny stocks. Until Next Time... Best wishes and Good Investing, |
Peter Leeds continually uncovers penny stocks about to explode in price.
These picks are revealed to PeterLeeds.com subscribers.
His subscribers have been reaping the rewards.