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 01/29/2009:
-------------------$INDU---------$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.
BBH
BSR
CSJ
EEN
FLO
FXM
TDH
UGA
XBI
U.S. equity markets rallied on much stronger numbers from Wells Fargo and some encouraging (really?) news about a “bad bank” for troubled mortgage assets. Transportation (LSTR,ODFL, NAT,PACR, UTIW, ALK,ASR,SKYW), telecom (VZ, MTZ, RIMM), and insurance (ACGL, AWH, IPCC,IPCR,PTP) all reversed. AMGN also reversed, another piece of evidence regarding recent strength in biotechs.
The only problem is that none of these passed the neural net tests.
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.
AMGN was very close to passing the net screens. We are at least now getting to the point of finding two to three positions a week to work with. As things settle out further there should be others to come along with them. Patience has to be used to find them and wait for the set-ups.
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.
