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INM Sep '05 - Hit the Bricks if You Aren't a Natural Born Pro
Kenneth J. Gruneisen, Founder and Contributing Writer, www.CANSLIM.net
CANSLIM.net


Nothing at all about my background would lead anyone to think that I would find a career in the financial services industry.  We moved to Florida when I was 7 years old, and as I was growing up my dad worked for the Miami Herald for 23 years, mainly supervising paperboys.  My grandfather was a jockey, and later a machinist who worked in factories that made things including brass beds and plumbing fixtures.  My mom (who’s 67th birthday was celebrated yesterday) worked as a receptionist in a dentist’s office, later as a bookkeeper in a retirement community, and then she did clerical work in a mail-order business.  Thanks, mom!  If anything, you might be the reason I work in an air-conditioned office behind a desk, as opposed to outside in the heat.

 

Why tell you so much about my personal story?  Because it makes it easier to see that I had no special advantages in the business of investing, and hopefully it can be an inspiration to you.  I was not born or raised with exposure to the knowledge and skills that it takes to be a successful investor. I am self-taught, and Bill O’Neil and John Murphy were two huge influences.  Throughout more than the past decade I have listened to them both at investment conferences, seen them both on television, read articles about them in magazines, and followed their analysis online.  But I still consider this career choice to be a learning experience - one that is constant and never-ending.

 

Top athletes train continually.  I saw a segment on a sports television program recently where one NFL coach was training his team by tossing bricks (not footballs) and having players catch them.  So the story went, Jerry Rice, one of the greatest receivers in the game, had brick catching as a part of his previous training routine.  Obviously, investors who want to get great results should do some regular training too.  It may not be fun and interesting to commit your valuable time to reading daily reports, but that should definitely be a part of your exercise routine as an investor.  How else are you going to be familiar with what is going on in the market and be in the right position to score? There is no replacement for doing the work.  It is your choice – work hard and have a chance at the big bucks and stardom, or slack off and risk getting cut from the team. 

 

There are certain recognizable characteristics of typical bull markets, and despite record oil and gas prices, and the damages caused by Katrina, we have actually been seeing several good indications in the recent trading activity.  One would be the market’s ability to shrug off bad news and keep on chugging higher.  Days like several of the latest up days, where the market starts by showing early weakness, then rallies and finishes strong, are also a bullish indication.  Another is the number of new highs outpacing the new lows.  So, in many ways the market is showing us textbook action of a bullish market, with the major indices technically finding support near their short-term moving average (50 DMA). And after August brought mostly declines for stocks, a move up is not entirely surprising given the state from which the latest bounce in equities began.

 

Without much confidence, you might be afraid things will continually melt down from here.  However, in a bull market, leading stocks do not succumb to much profit taking, and the dips are viewed as buying opportunities.  In other words, if you missed your ideal buy point on a recent breakout, you may want to watch it closely.  You might get another chance to pick up a leading stock during normal consolidation back toward its 50 DMA.  There you can usually put a tight stop loss, too.

 

I will be spending this Labor Day weekend at a Gruneisen family reunion in Louisville, Kentucky, my hometown.  Some families I know have a reunion every year, but this is the first organized get-together we have ever coordinated.  There should be over 100 Gruneisens there. You know I do not come from a long line of successful stockbrokers.  To my knowledge, none of my relatives even work in the brokerage industry. 
About Kenneth J. Gruneisen, Founder and Contributing Writer, www.CANSLIM.net :
Kenneth J. Gruneisen has successfully completed the CAN SLIM® Certification Program.  Mr. Gruneisen became a Registered Representative in 1987 and his career includes experience offering personalized assistance to investors with more than a decade of experience as a Registered Principal managing a branch office.

The recommendations made by CAN SLIM® certified individuals are their own and may not be attributed to the CAN SLIM® Certification Program, William O'Neil & Co., Investor's Business Daily or their affiliates. The CAN SLIM® Certification indicates only that the individual has successfully completed the CAN SLIM® Certification Program. CAN SLIM®, William O'Neil & Co., Investor's Business Daily and any of their affiliates are in no way responsible for any loss or damage caused as a result of the services provided by these individuals.


Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities.

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The recommendations made by CAN SLIM® Certified individuals are their own and may not be attributed to the CAN SLIM® Certification Program, William O'Neil + Co., Investor's Business Daily or their affiliates. The CAN SLIM® Certification indicates only that the individual has successfully completed the CAN SLIM® Certification Program. CAN SLIM®, William O'Neil + Co., Investor's Business Daily and any of their affiliates are in no way responsible for any loss or damage caused as a result of the services provided by these individuals.

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