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 01/05/2009:
------------------$INDU-----------$SPX--------$COMPQ
Monthly Momentum--Positive(OS)---Negative(OS)-Negative (OS)
Weekly Momentum---Negative-------Positive-----Positive
Daily Momentum----Positive-------Positive-----Positive
(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.
DOD
ECH
EWW
FXC
GKD
IFAS
IFGL
IVI
PBP
PIE
RSX
U.S. equity markets staged a substantial relief rally associated with the new year and ran higher despite the worst ISM manufacturing numbers in 28 years. Machinery stocks (DXPE, FWLT, GHM, DE), food (ANDE, HNZ, SONC), business services (MCO, BR, TSS), and retail (SYY, GME, JOSB) hit the bullish reversals list. GME was the only stock that met the neural net screens, but DXPE, and ANDE were quite close).
-----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.
(O) GME 4.02/1 75.0%---1.97--1.63---7.01
Monthly momentum may be shifting, but weekly momentum is still a bit negative. We should see a window of opportunity in the next month or so should this rally continue. We need to be watching things toward the end of the spring as there might be significant price resistance in the indexes that must be overcome.
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.
