Do You Like Foreign Equities? I Am Looking At These 2 Stocks
DJIA
The Durable Goods disappointing numbers seems to have triggered fairly broad
based selling in the pre-market. The figure dropped 4.9%, the largest decline
since last October. Our system profited nicely yesterday on the short side in
the DJIA
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DJX |
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DIA |
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morning. My studies are indicating that the next support level for the DJIA is
10477. Yesterday, our support level of 10527 acted nicely as support prior to
the last several minutes when selling shattered this level. Holding shorts
here. Short/ProfitableÂ
Oil
This trade is continuing to weigh on our portfolio. However, nothing has
changed to alter my contention that the top is in or very close in this over
hyped and volatile commodity. Short/loss
US Dollar
The EUR/USD pair is indicating nice strength this morning. Shorts were
triggered last night and were quickly stopped out at even. The go-long level was
hit earlier this morning and longs were entered at 1.2257 with stops at break
even. Long/slightly profitable
Stocks
My attention is turning toward the South American markets, namely Brazil.Â
The Ibovespa Index suffered a nice sell off yesterday alerting me to the
following equities–
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PBR |
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RIO |
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for potential entries.. My research is still incomplete at the present time,
will advise when a decision is made.Â
Here’s what happening in our portfolio and watch list:
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CPV |
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is back profitable. 30 is resistance at this time and I am expecting this level
to break shortly. Long/Profitable
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GOOG |
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yesterday. Our previous short level of 269.97 was not violated and I am still
flat at this time. I am moving the go short level up to 273.93. Flat/short
bias
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EBAY |
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slight downward bias. Holding shorts here. Short/profitable
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BHP |
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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.