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 02/10/2009:
-------------------$INDU---------$SPX---------$COMPQ
Monthly Momentum--Positive(OS)---Positive(OS)-Positive(OS)
Weekly Momentum---Positive-------Positive-----Positive
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 100,000 shares.
BWX
DPN
EMB
ENY
EWL
EWV
FFR
FXE
GKD
IFNA
IPE
OIL
REM
SDP
TDH
UDN
USO
U.S. equity markets basically went nowhere on Monday, perhaps in wait for Treasury Secretary Geitner’s “bad bank” proposal today. Petroleum (BRS, EOG, PSEC), insurance (AGII, AIZ, PRE), banks (BAP, BBT, BLX) and REITs (AVB, BRE, BXP) led the bullish reversals list. One cable company CMCSA also hit the list.
In the end, only the cable company passed the neural net screens, even though the pattern was not perfect.
----------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)CMCSA 3.25/1 66.7%-1.63--0.67--------4.62
That’s it for now. We are likely to see a ton of volatility in energy related issues and the patterns that are forming are rather wide in terms of timeframe, and many lack perfect symmetry. As volume returns to this market, that condition may change and may provide some better opportunities as time moves forward.
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.
