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 03/02/2009:
-------------------$INDU---------$SPX----------$COMPQ
Monthly Momentum--Negative(OS)---Negative(OS)--Negative(OS)
Weekly Momentum---Negative-------Negative------Negative(OS)
Daily Momentum----Negative-------Negative------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 10,000,000 shares.
DUG
BIL
EWK
FXP
RSW
SDS
SHY
U.S. equity markets continued to fade Friday as worries about employment, the “stimulus”, and bank failures prevailed. Industrial machinery (FWLT) and water supply (AWK, CWT), and business services (CRN, CGX, ASF,HEW, SAI, MD) lead the list of bullish reversals, but none passed the nets barrier statistics
-----Value/Price EST. 7 day ATR %( 7 day ATR)/Close
Nothing today
Note (O): optionable
*Beta greater than 1.5, Volume greater than 1 million shares on a 50-day simple moving average volume basis.
That’s it for now. We need to continue to watch the water stocks as well as some of the internet services stocks (AMZN, NFLX) as time moves forward. Stocks involved in cheap alternatives are showing signs of outperformance. NFLX is still relatively cheap and could excel over time. Patience is still required to find good set ups.
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.
