Class Notes December 2008

Here's a recap of our December 3rd meeting.
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Thirteen attended the meeting including three new members (Lisa Carlin, Cecilia Litvak, and Ken McGee). Join me in again welcoming them to the group. There were 11 contributions totaling $100.50, bringing our cash on hand to $109.50. That will allow me to reserve L107 for our February 2009 meeting.
Now about the meeting. The market had completed the seventh day of a new rally (Day one was Friday November 21st and the "Follow Through" was on day 6 Tuesday December 2nd). For the benefit of the new members (and review for "old") some time was spent describing the importance of IBD's "Rally Attempt/Follow-Through" rules. By way of follow-up, I have attached a Word document (Nov 21, 2008 Rally Attempt and Follow-Through.doc) in which I have added notes on the details of the current rally on images of the charts for the three major indexes (you can zoom in on them with WORD). Also, especially for the new members, some time was spent on chart pattern basics. By way of follow-up on that subject, I have included (on page 4 of the just-named and attached document) a link to the "Learning Center" of the IBD web page that will take you to detailed descriptions of the important "bases" we look for when adding fundamentally strong stocks to our watch lists for timely buys. On the subject of chart patterns, I am attaching a searchable WORD document (IBD Chart Criteria.doc, 42 pages) where I paste articles copied (often in part) from IBD that I have found particularly descriptive of the important chart patterns and other important IBD CANSLIM principles. For example, if you are interested in knowing whether the document has anything on the cup-with-handle chart pattern, search on cup or cup-with. There was also discussion of our blog (cfibd.blogspot.com) and its infrequent use by group members. In yet another attempt to encourage more frequent use of the blog, members were encouraged to go there and read recent posts that amplify subjects discussed at recent meetings. No login is required to do that but one of the posts gives instructions for registering (required for adding posts of your own). For those of you who have expressed an interest in options, there will be an exploratory meeting on December 9th (Tuesday, 6:30 - 9:00 PM) at: The Internet Connection Café250-1 Racine Dr. (West side of street, about one block south of the Home Depot mall)Wilmington, NC(910) 793-1940In your reply acknowledging receipt of this message, please tell me if you will be attending The next meeting of the Wilmington IBD Meetup Group will be on January 21, 2009 (Third Wednesday). At that meeting, Kent Tomaselli has agreed to lead us in a "Back to Basics" lesson on what and why IBD? I am looking forward to it!! I will send a reminder before then.
Your Organizer, Bob
Robert B Brownfield 201 Yorkshire Lane Wilmington, NC 28409 brownfieldr@gmail.com (910) 799-7887 or (910) 470-2724 (Cell)