Home
Mike Swanson's picture

Some Big Picture Thoughts on this Market - Mike Swanson (05/11/08)

Submitted by Mike Swanson on Sun, 2008-05-11 10:05.

Hey we decided to do something a little different this weekend. Andy Emerson and I did a WallStreetWindow little video in which we discussed the stock market. I asked him one question - is this rally the start of a new bull market?


Andy and I have been trading together since the end of 1998. We share an office together and I used to co-manage a hedge fund with him. He still is running it. He writes about two articles a week for the WSW Power Investor Elite Service. Maybe in a future video I'll show you around the office.

Basically we both still believe we are in a bear market. The only thing right now that is still in a long-term bull market is commodities, especially oil and metals. Oil stocks are so overbought now I don't think they are good buys at the moment, but I still think gold stocks are. I think they are likely to consolidate for the next few months and then breakout towards the end of the summer.

I did an interview the other day for Smartstox.com in which I talked about this. You can go to their website to listen to it. Most of their interviews are with mining companies, so its an honor to be one of the few stock market analysts on their site. You'll find the interview on the top left section of their website under analysts. To listen to it click here.

I still think we're likely to see gold stocks move a bit higher from here. Tomorrow morning I'll be posting a WSW Power Investor members only Market Monitor update with some more detailed analysis of the markets and the sectors we need to be keeping an eye on. Last week I added one gold stock that is already moving nicely for us. I don't have any at the moment I plan on adding this week, but I haven't look through all of the stocks yet. I'll do that this afternoon.

I'll be talking to you later this week. I'm looking to do an interview with Dave Skarica since its time to start to think harder about gold stocks again. He just spoke at a mining conference in Saskacthewan. There are lots of things going on with uranium up there. We are going to talk about that and apply technical analysis to the market.

»


Sign Up Below to My Free Weekly Newsletter

Hello. My name is Mike Swanson. I’m the best-selling author of the book Strategic Stock Trading. In a former life I used to run a hedge fund from 2003 to 2006 that generated a return of over 78% during that time frame. In fact it was ranked in the top 35 out of 5,000 hedge funds in 2005.

After I retired from the hedge fund world I setup this website and blog. If you sign up for my free weekly email list below I’ll send you an update on average about once a week on my views of the current stock market trends and share with you actionable investment ideas.

Now I cannot promise you that every stock I find will go up in value. I can’t promise you endless 100% returns as others claim they do and as all the disclaimers say past performance does not necessarily predict future performance and you can lose all of your money in the stock market.

This is reality.

What I can promise you is my dedication to doing the best I can for you.

You see the key to making money over the long-run in the stock market is to manage your risk. Once you sign up to my newsletter I’ll send you a series of educational videos and writings showing you how I use stop-loss orders to cut any potential losses and how I use my two fold formula system that combines fundamental and technical analysis to pick stocks. My goal is to risk one dollar to try to make at least three dollars in my trades by looking for stocks that are priced cheaply on a valuation basis, have high earnings growth, and have excellent chart patterns.

So join my list below and let me help guide you on your journey in the stock market.