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These articles describe the statistical probabilities of long positions on these equities, based on neural net projections, for the next 5-15 trading days. These are not holy grail methodologies, the road to easy street, or anything else. These projections are the result of screening for technically significant retracement and momentum patterns that have been further screened for value and bullish sector performance. In other words, the projections are for long positions.
For 12/22/2008:
-------------------$INDU---------$SPX----------$COMPQ
Monthly Momentum--Negative(OS)--Negative(OS)---Negative(OS)
Weekly Momentum---Positive------Positive-------Positive
Daily Momentum----Negative------Negative------- Negative
(OS) means oversold and (OB) means overbought. The value to price estimate (it is not a guarantee, only a cash flow based estimate) can be defined loosely as a multiplier of price. A number higher than one means the stock is undervalued using this model and a number less than one means the stock is overvalued.
Index and ETF I-shares Bullish Reversals (Note: to look up quotes for the Dow Indexes (starting with DJ or DW, add a dollar sign. No dollar sign is required for the ETFs beginning with other letters.) Today’s list includes only those ETFs with a 50-day moving average of daily volume greater than 100,000 shares.
MZZ
RWM
SCC
SDS
SHV
TWM
U.S. equity markets continued its meandering on Friday as holiday trading conditions began to kick in. The primary sectors that rallied into bullish reversal patterns were software (ORCL, CTSH, and BMC) and healthcare (KNSY, CYH, CHSI). Though none met the neural net criteria, ORCL and CTSH were closest to daily swing trades.
------Value/Price est.---7 day ATR----%( 7 day ATR)/Close
Note (O): optionable
*Beta greater than 1.5, Volume greater than 1 million shares on a 50-day simple moving average volume basis.
Nothing today.
Holiday trading conditions will make swing trading difficult over the next few days. Regardless of that, the stocks listed above should remain on a watch list just as banking and business conditions stabilize. We will likely see healthcare and medical implement stocks be among the first to rally if there is one coming sometime in 2009.
Take care,
DBB
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I believe you are probably the best out of the literal hundreds of traders that I have witnessed.
