VoyForums

[ VoyUser Login optional ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, [3], 4, 5, 6, 7, 8, 9, 10 ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: Wednesday, September 22, 04:47:50am
Author: Dave Zitzkat
Subject: Comment on the Stock Market

Well, boys and girls, surprisingly there seemed to be very little interest in my comments on the Market, in the string below starting with "Having Fun Boys and Girls." Therefore, I stopped giving frequent updates. I would point out that you can see in that string that I correctly called a market bottom and said to buy. I gave four stocks, which, if you had purchased them when I said to, would have made you about 5% in three weeks on average. Damn good advice, I'd say. Better than Cramer or practically anyone you can name. But, no interest, so why bother.

Just FYI I sold two of the stocks, LLY and FTR. LLY I sold yesterday and FTR a few days ago. Reason I sold? Both popped out of the top of the Bollinger Bands and both had RSIs of 70 or over. That is a clear sell signal to me, even though I like both stocks and feel they could go higher. I won't risk it, though.

Of the stocks we started with, I still hold VMC and NAT. VMC was up over a dollar yesterday, and is looking good in terms of technicals and valuation. NAT just keeps going up. I will hold both until either I get a clear sell signal, or the market looks topheavy.

The $INDU has an RSI of 68 so it is getting rich. Howeever, I have seen it go MONTHS in the 70s. Considereing what is coming up in the next month, I think it should continue to go up. However, volitility will be an issue. I don't see any downside plunge in the immediate future.

I have been selling, and at the momment, I am about 25% in cash. I expect that will go considerably higher in the next month, and at the moment, I can't think of anything I would buy. Again, I am a technical elf, so other people could come to other conclusions. However, I am on track to make over 10% this year. (I did 21% last year.) How much over 10% is hard to say yet. I am pretty convinced my system works.

If anyone wants, I will continue my comments on the market, otherwise, adios, amigos!

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Replies:

Forum timezone: GMT-5
VF Version: 2.94, ConfDB:
Before posting please read our privacy policy.
VoyForums(tm) is a Free Service from Voyager Info-Systems.
Copyright © 1998-2012 Voyager Info-Systems. All Rights Reserved.