For 02/12/2009:
------------------$INDU---------$SPX----------$COMPQ
Monthly Momentum--Negative(OS)--Negative(OS)--Positive(OS)
Weekly Momentum---Positive------Positive------Positive
Daily Momentum----Negative------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.
BSV
PGX
PHB
REZ
UGA
UUP
U.S. equity markets meandered higher on Wednesday as markets continued to absorb the details of the “stimulus” plan. There was a small mixed bag of stocks with bullish reversals. REITs (AGNC, HME), mining (PAAS, RGLD), leisure (CHH), insurance (AXS, AIZ), home furnishings (TUP), healthcare (THOR), food (BKC, LNCE), drugs (NOVN), and business services (JTX).
------------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)THOR-5.85/1 83.3%--0.72--1.50------5.68
(O) CHH-1.87/1 82.5%--1.34--2.08------7.75
That’s it for now. Healthcare remains strong, as do certain small segments of the REIT markets. We need to be careful as volatility is likely to be heightened until the news flow associated with the stimulus package is done. Stops and targets have to be watched and position size limited under these circumstances.
Take care,
DBB
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