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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 01/06/2009:
-------------------$INDU-----------$SPX---------$COMPQ
Monthly Momentum---Positive(OS)--Positive(OS)--Positive(OS)
Weekly Momentum----Negative------Positive------Positive
Daily Momentum-----Negative------Positive(OB)--Positive(OB)
(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.
EFU
JNK
SHV
SRS
UNG
U.S. equity markets slumped perhaps on the basis of bad automotive sales news and even the anticipation (or speculation) about bad employment numbers this week. Sectors slumped across the board. The only stocks that looked mildly interesting were IN, ESRX,MD. None of these names (including ESRX a prescription drug processing outfit) made the final neural net cut.
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.
Monthly momentum remained cautiously positive and must remain so if a rally is going to happen going forward. Lets be honest and state that the market’s reaction to employment numbers may actually set the theme for the month of January and perhaps the entire year. Only time will tell.
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.
