SMN
SMN UPDATE—the 50 day was the go long signal. missed this long, too bad, because it went about 6 to 8% higher.
XLU
second phase of bottom fishing rally beginning. ( sector rotation)
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on oct 1st, the 2 month’s ago price for the spx will have been 1280. subtract 20% = 1024. so on oct 1, the spx can drop to 1024, and technically, that’s not a new bear market.
spx target potential
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SUNDAY UPDATE 8-28—-
CAT is interesting. last high 112 before the correction, global slowdown, no more stimulus, i guess CAT is one of those companies, that won’t get back to 112, in this particular rally.
AGCO,PH,DE other stocks that might fit this scenario.
another deep rsi recovery stock similar to CAT…IYJ. IYJ always gets to its 36 day, in rallies. 58 now, 36 day, approx, 62.5. or 8% higher.
little tidbits like this, start to tell me an entire picture.
might be a good idea, to go long CAT until IYJ is at it’s 62′ish target
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QQQ upper bb band—55, that’s where the momentum is. why is there momentum, pretty simple—after a drubbing rsi took 2 weeks ago, momentum always show up to rescue the rsi.
QQQ target R1 54.5 or resistance
QQQ support S1 51.8, S2 52.6
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TGIF
SLX update–made 5%, CALLS up 60%—yay
added a few puts, as a hedge, end of day
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SLX —most of the holdings, have put in support, so it’s a matter of trading this to a higher price..
in my membership area—I cover nine of the SLX holdings—
which really strengthens the case for this chart.
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i’ve had the midas touch, the past 2 days. i expect i’ll be giving back some profits. comes with the territory.
i’ll keep you posted.
july, i lost one membership, aug, i lost one membership. i guess everyone else is making gawd danged money.
GOLD lower BB band has nailed the support in the past. i suspect it will again. 1692ish
Gold prices, which are a proxy for the inflation that we can expect over the next 10 to 15 years, rose by more than 20% during QE2.
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MTL,X,PKX,MT
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XLE
BOTTOM FISHER’S came in loud and proud. now that they are here, how do you get rid of them, if you are a bear.
UPDATE KGC—it didn’t get to 19, down 6% on 8-23…will try to go long some other time.
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I PROBABLY SHOULD GO LONG CLF,MT,FCX,X, some of the beaten down mining—
update—all these were up 8-23 today, huge
SUNDAY AUG 21
just finished going thru 300 eps comparisons …feb eps compared to aug eps—the eps trend is neutral.
i concluded, it doesn’t really favor a double dip recession scenario.
I guess it really depends on Europe getting it’s act together and catching up to the where the US markets are headed–
and that’s higher…
FRIDAY UPDATE—
HAL 3% stooped out—will try again at 37.5-38
