4 stocks to buy and 2 to short
DJIA
In an almost unprecedented move in the
history of my index system, multiple exit signals converged yesterday at 10677,
alerting me to close the DJIA longs with nice profits. I posted the exit in real
time in TradersWire for
those of you who attend the chat room. These signals include the extremely
narrow range yesterday after multiple wider range days, our earlier calculated
top at 10719 being approached, cyclical factors and the last two weeks being up
attracting all the public trend followers onto the long side. Although all
signs point to lower today, as traders, we must remain fluid in these cases,
ready to discard the hypothesis if proven wrong. Here is the DJIA channel
10723–10627. Remember, long should the upper figure be broken by the
parameters, short if the lower figure breaks and flat in the death channel.
Flat/short bias
OIL
Oil is coming off its lows this morning. I
will close the shorts should 64.44 be violated to preserve profits.
Short/profitable
US DOLLAR
I shorted yesterday at 1.2277 and price has
bounced around a bit since then. The trade has been profitable and not
profitable several times since entry. One of the keys to FX trading is the
ability to withstand the sometimes wild short term gyrations and use wide stops,
if at all. One must understand that you are trading against the dealer( if you
are retail), who has the information advantage and will use this advantage to
your detriment.
EQUITIES
(
WEGI |
Quote |
Chart |
News |
PowerRating)—I
have removed this one from the active watch list, as it is not performing yet.
Will monitor, the go long figure remains at .75.
Flat/removed
(
GOOG |
Quote |
Chart |
News |
PowerRating)—
Wow ! The power this stock is showing is unreal! I am still expecting a severe
correction soon, and am waiting for the market to tip its hand before entering.
I am raising the go short level to 295.93. Patience is the key here.
Flat/short bias
(
EBAY |
Quote |
Chart |
News |
PowerRating)—Shorts
were entered yesterday at 38.23 and are currently underwater.
Short/loss
(
CPV |
Quote |
Chart |
News |
PowerRating)—One
of my core holdings gave back a little profit yesterday. I am holding here.
Long/profitable
(
SGR |
Quote |
Chart |
News |
PowerRating)—
This one had an extremely wide range day yesterday and ended in the red. I am
holding for now. Long/profitable
(
CMVT |
Quote |
Chart |
News |
PowerRating)–
Our tech stock added nicely to gains yesterday. Holding at this time.
Long/profitable
(
IBIS |
Quote |
Chart |
News |
PowerRating)—
Awaiting the go long figure of 2.13 to break to trigger longs.
Flat/long bias
Best wishes in the market !
Dave G
David S. Goodboy (marketsurfer) has been
trading professionally for over 14 years. Mr. Goodboy trades ETF’s, stocks,
index futures, energy futures and options. His primary focus is a unique
multi-time frame index trading system based on a combination of time/price
cyclical studies and statistical models. David was a trader/partner with
Biltmore Capital, traded with an option arbitrage firm, and is currently in the
launch stages of IntrendX, a global multi-strategy fund.