In our holdings, GE and RF continue in bull mode, with GE's price stalling.
Indicators:
SPY, for blue chips, and GLD, for gold, remain in bull mode, both capping up this morning. The VIX remains in bear mode (which is bullish for stocks).
TLT, for bonds, is in bear mode (prices down, rates up), and the mfi has reversed so it now matches the pps again.
Currencies: EUR/USD in bear mode, USD/JPY in bull mode, with prices stalling on each.
Showing posts with label regions financial. Show all posts
Showing posts with label regions financial. Show all posts
Monday, November 16, 2009
Thursday, November 12, 2009
RF Strangeness
While monitoring RF prior to my entry window (the last half hour of trading), I saw the bear signal briefly appear above the daily bar.
That points a great weakness of my current signalling system. The primary signal, the Person's Proprietary Signal, is --- well --- proprietary. It's a black box, I don't know what's going on, and so I can't assess what a brief ghost signal like I just saw really means.
Perhaps RF is haunted. Who knows.
If you look at a one-year daily chart, you'll see that the stock has been flat, moving in a $3+ wide range since last spring. All in all, I'd call it a bit riskier than my normal play, since the downside risk on an one-year chart is around $3.50, the low last summer and spring.
But I haven't rejected the play out of hand. Risk is good.
That points a great weakness of my current signalling system. The primary signal, the Person's Proprietary Signal, is --- well --- proprietary. It's a black box, I don't know what's going on, and so I can't assess what a brief ghost signal like I just saw really means.
Perhaps RF is haunted. Who knows.
If you look at a one-year daily chart, you'll see that the stock has been flat, moving in a $3+ wide range since last spring. All in all, I'd call it a bit riskier than my normal play, since the downside risk on an one-year chart is around $3.50, the low last summer and spring.
But I haven't rejected the play out of hand. Risk is good.
11/12 Watchlist
AMD, which I hold, has gapped up $1 to a peak today of $6.73 on news that Intel will pay a $1.25 billion legal settlement. I'll take the profits and run before close today, despite the lack of an exit signal. On occasions such as these, greed overpowers technical analysis every time.
Among high-volume issues, RF shows mfi confirmation a few days after a bull signal. The NYSE reports share imbalances on the buy side. Trading now at $4.78, the price shows resistance at $5, $5.20 and then blue skies up to $5.90. Support stands at about $4.70.
Holdings GE, HD and IWM remain in bull mode, although IWM is showing a price reversal.
No new entry signals among the high-volume ETFs. (Entry signal meaning a Persons Proprietary Signal confirmed by the MFI bouncing out of overbought or oversold territory.)
No signals yet on the two symbols on watch from Wednesday, UNG and PALM.
Among high-volume issues, RF shows mfi confirmation a few days after a bull signal. The NYSE reports share imbalances on the buy side. Trading now at $4.78, the price shows resistance at $5, $5.20 and then blue skies up to $5.90. Support stands at about $4.70.
Holdings GE, HD and IWM remain in bull mode, although IWM is showing a price reversal.
No new entry signals among the high-volume ETFs. (Entry signal meaning a Persons Proprietary Signal confirmed by the MFI bouncing out of overbought or oversold territory.)
No signals yet on the two symbols on watch from Wednesday, UNG and PALM.
Subscribe to:
Posts (Atom)