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 02/04/2009:
------------------$INDU----------$SPX---------$COMPQ
Monthly Momentum--Negative(OS)---Negative(OS)-Negative(OS)
Weekly Momentum---Negative-------Negative-----Negative
Daily Momentum----Negative(OS)---Negative(OS)-Negative
(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.
DWM
EPP
EWA
EWI
EWT
EWM
EWQ
EWT
EWY
FEZ
FXA
FXE
FXF
FXI
IEV
IGW
IHI
INP
ITB
IYH
IYZ
MBB
PGJ
PHB
PPH
QLD
RTH
UDN
USD
VGK
VHT
VOX
U.S. equity markets somehow managed a rally in the midst of more negative news on financials. Apparently new and existing home data helped settle a pretty volatile market. There were 400 reversals and 84 with significant patterns, primarily concentrated in retail (TITN, CVS,COH,CBD,CTRN,GPC,COST,LOW, TGT), food (CEDC,CPO,PAS,MCD,PNRA,CBRL,RRGB,CMG), and healthcare (AFAM,AMED,ISRG,DGX,FMS). Only two made the final cut, and one came from retail and healthcare.
----------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) LOW 2.44/1 72.1%---1.22---0.97------5.10
(O) AMED 1.59/1 57.1%--1.99---2.16------4.94
That’s it for now. Let us be careful with stops and watch targets and economic data my trump patterns, but nonetheless, we will keep searching for patterns in the strongest sectors. These set ups will continue to arise as markets settle a bit.
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.
