Archive for May, 2010
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If you were going to unload a large position of securities, would you tell the world about it in advance? The widely applauded report that Chinese officials said they would not abandon European junk securities should not be taken seriously. (Thanks to my friend, Judy, for these insights.) Meanwhile, we finally got a real bounce. [...]
Wednesday was the 16th day of the QQQQ short term down-trend. The Worden T2108 Indicator is still in oversold territory.
We may get a real bounce now. While everyone thinks we have just had a correction, I am concerned that we could get a brief rally that fails and completes a major top. So I remain skeptical until the the market reveals its true trend. If this bounce holds for a while, I would watch [...]
The one day bounce begun last Friday could not even hold on Monday. I would be nuts to fight this severe down-trend. The QQQQ short term down-trend completed its 14th day on Monday, having fallen 7% since I identified it. (Trend followers can only identify a trend, sometime after the peak, so the QQQQ is [...]
On May 3rd, I posted the results of my submarine scan, designed to detect stocks in a significant down-trend. The scan was run on the close of 4/29 and this table shows the performance of the nine stocks since then. TC2007 lets me run a watchlist tracking report that shows the changes of each stock [...]
The GMI and GMI-R are back to zero for the first time since March 9, 2009 at the re-test of the 2008 market lows. The Worden T2108 Indicator is now at 10% (rounded, really 9.7%). I have thought in the past that when this indicator is in single digits, I should have had the courage [...]
The GMI and GMI-R are both at one. T2108 is back in possible bounce territory, at 19%. Better to be on the sidelines, mainly in cash.
The markets look like they are in sustained down-trends. This is the time to be short or in cash. Longer term trends still up–for now…………
Every once in a while the charts become so bad that they scare me. I check a number of market indicators every night and was concerned by the current steep decline in the Shanghai Composite Index. The weekly chart (and monthly chart, not shown) are very ominous. After a major decline (almost 70%) from 2007 [...]
