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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 02/23/2009:
------------------$INDU----------$SPX----------$COMPQ
Monthly Momentum--Negative(OS)---Negative(OS)--Negative(OS)
Weekly Momentum---Negative-------Negative------Negative(OS)
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.
BBH
BSV
BWX
DBA
DBE
DGG
EWO
FIO
FRI
FTY
FXB
FXC
FXF
FXY
GSC
HHH
ICF
IYR
IYZ
JNK
JYN
LAG
OIH
PLW
PRFM
REZ
RWR
SCJ
TDV
UDN
UGA
URE
VNQ
XRT
U.S. equity markets retreated en masse Friday until President Obama related that he thought private banking was “the way to go.” Unfortunately this morning we have news that C will be owned by the government to the tune of about 40% more on an equity basis. Nothing actually looked good save for one stock, RATE. It did show positive expectancy but NOT to the 1.60/1 60% screen I use. For that reason, nothing hit the screens today.
----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.
That’s it for now. It is entirely possible that we may see a rebound, but the selectivity of that rebound in healthcare, biotech, and certain technology issues will be monitored. The momentum of this market is still decidedly negative and will take time to settle. H.R. 1068 will not help it either, but we will have to remain resolute and fight the taxation of investment.
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.
