POST OF THE DAY
Wade Cook Investing
What a Company

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By GaryZZZZZ
June 4, 2001

Posts selected for this feature rarely stand alone. They are usually a part of an ongoing thread, and are out of context when presented here. The material should be read in that light. How are these posts selected? Click here to find out and nominate a post yourself!

Today was a heavy volume day for Wade Cook Financial Corp., a whopping 11,000 -- excuse me, I mean 5,500 -- shares traded hands resulting in a dollar volume of $1,000 ($550).

Here's a summary of today's action (I'll divide by two for the Nasdaq double-counting thing):

At the opening bell an absolutely enormous $150 block changed hands setting the tone for the whole session.

At 10:45, as traders stunned by the buying panic frantically evaluated the early morning action, one smart cookie managed to sneak the second trade of the day by the market makers and pocketed a quick $50. Sweet!

Then in a one-two punch, just a mere half hour later at 11:15 in fact, the third trade of the day resulted in another lucky trader grabbing yet another 50 smackers. Cool!

Is it possible that same savvy individual, cautiously following a dollar averaging discipline, issued those two trades? We may never know but following the ticker was like following the steps of genius. I bow my hat to you, valiant trader, whoever you are!

Then the fireworks started as the big boys let loose...

Right at lunchtime, at 12:00 in fact, between the end of Springer and the start of the local news, one wealthy powerbroker deftly managed to issue yet another one of those goliath $150 trades.

The market was stunned.

Two $150 trades in one day? That's a whole lot of greenbacks. It's also a pattern, folks, and patterns mean that savvy WCFC seminar attendees can apply technical analysis. But good technical analysis takes time. Two hours of time in fact as an unknown stock market prodigy drew a line between those two huge $150 block trades and through the power of his vast intellect determined that WADE had momentum.

After the momentum consensus was reached, nothing could stop the stock when, at 2:15, the last trade of the day resulted in another stunning, whopping, enormous, $150 blitz. The market makers didn't know what hit them.

Breathtaking, absolutely breathtaking!

Gary Wall