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 01/27/2009:
-------------------$INDU---------$SPX---------$COMPQ
Monthly Momentum---Negative(OS)--Negative(OS)-Negative(OS)
Weekly Momentum----Negative------Negative-----Negative
Daily Momentum-----Positive(OS)--Positive(OS)-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 10,000,000 shares.
BWX
DBA
FXF
GEX
HYG
IBB
PBW
PGF
PGX
TIP
VDC
XLP
U.S. equity markets finished virtually unchanged yesterday as energy issues rallied and the rest of the market tried to figure out what was going on with retail sales and the general economy. The list of layoffs made any rallies relatively muted. The principal bullish reversals yesterday were utilities (LG, CHG,FR, GXP) and healthcare (LH, DGX). Even HD rallied yesterday on the announcement of layoffs. Bottom line, though, none of the pattern reversals (including a rather symmetrical one for KEX, a transport firm) satisfied the nets.
-----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
We are still fighting to hold on to bear market support levels, and leadership outside of biotechs and certain consumer names (grocers like SVU, for example) are the leaders currently. We must be patient as things shake out for other entry points.
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.
