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 01/30/2009:
-------------------$INDU---------$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.
DUG
FXP
REW
SLV
UUP
U.S. equity markets fell back hard on jobless claim news and the prospect of bad GDP numbers on Thursday. The only solid bullish reversals were in consumer products (NTY), mining (GOLD, KGC, PAAS), healthcare (ICLR, PPDI), and a host of ultra-short and fixed income ETFs (ERY, FXP, HYG, PST, REW, TBT) Biotech drugs (EBS) also hit the list. Sadly, though ICLR and PPDI were close, none met the final neural net screens.
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.
Lets be patient as the week closes and see how things set up for next week. ICLR is very cheap and looks capable of a breakout move, but we need to wait for the pattern set-ups to trade them.
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.
