Up-Coming events:

At the moment we are putting plans in place to hold a seminar in the mid-October time frame and are now set to begin the early enrollment.

The CD/DVD  covering the "Complete Trading Process"  seminar will soon be completed and ready for purchase at $299.  

Anyone attending the seminar will receive a free copy of the CD/DVD. 

Previous Issue:
 
 I covered how I evaluated the "HOT TIP". I mentioned that one needs to "Keep in mind that confirmation is suggested on a bullish engulfing candlestick pattern".

Now we know why the "confirmation" is a suggested. The WAVE  stock shown below has not shown any buying since the bullish Engulfing signal. Some of you may think I wasted a lot of time on the exercise and since it did not work out, I probably did. However, one never knows what the future brings and doing the exercise helped me hone my analytical skills.

It also helped to re-enforce my #1 trading rule.
No matter the source of the candidate, I and I alone am responsible for making the trade profitable. I get all of the blame, but only some of the credit.  

Practice makes perfect. Granted this one was far from perfect.

This Issue:


The DOW 30 industrial ls in its normal summer downtrend. Since the May08 Double Top there has been almost no bullishness shown in the DJ-30. Yesterday's low of 11725 found support and we should see a minor rally. However, I expect that while it may reach the "Rally Zone", it will be short lived. The truth is there just isn't any positive news to drive the market up. That combined with the normal June - August light volume period I expect the DJ-30 will find the "Downside Target zone" during the summer of 2008.



 
  

Summary:

As always I want to hear your thoughts on the subject. Please, feel free to send an email with your suggestions and comments to    kermitp@tradingourway.com  
 
Thank You, for taking the time to read our newsletter and good trading,
 
           Kermit Prather