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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 02/24/2009:
-------------------$INDU---------$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.
BND
DBV
GLD
IAU
PVI
SHY
TLT
U.S. equity markets continued its retreat on light volume as traders found little interest in buying and nothing really drove any sector interest. Traders are still awaiting news on the stimulus details. For this reason, there really were very few stocks of interest in bullish patterns save for business consulting (HURN) and healthcare related software (ATHN). Neither met the net screens, but ATHN is closest on a pattern basis.
--------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. ATHN is quite close to a decent pattern buy (though not quite a bullish Gartley), but once has to watch market action and trading volume in the sector. I think, however, it is best to wait for the best set-ups as the markets figure out where a “bottom” is. I still think that could be a long process, but patience is the best policy.
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.
