My Karachi 100 looks like it's getting blasted.
I posted my BAMBI update here Friday evening:
Message 4848268
It was tough to hold my little GM & MCD puts as I was watching what I did Friday. I decided it was short covering into a weekend, rather than the usual profit taking into a weekend. We'll see.
The stock action was interesting this week. In the prior week, stocks bounced off support/trendlines as if they were hitting a rubber band. This past week, they dropped through them like they didn't exist (maybe they were only in my eyes). Looks like some of them are going to be at really interesting levels.
I'm not to the point I can meld the weekly/daily MACD and the TA buying/selling levels together yet, but I'm getting closer. The mistake I made this week was that I only considered the TA buying/selling levels and didn't give enough weight to the MACD charts (won't make that mistake again).
I'm focusing on the 82 stocks with a market cap of more than $40B. So far I've entered over 5,000 data elements into a spreadsheet (ouch). I want to test a hypothesis that the stocks to focus on are where the weekly MACD is bearish but turning bullish and the daily MACD is clearly bullish. Not many in that category right now, but include GLX, SBC, BLS, SBH, ABT, AIT, T, MRK (Go Jury but watch 130), and JNJ.
That's all out of the 82 -- drugs and telecom.
BTW loved your quote on taxpayers -- THANKS.
For all -- BWDIK.
Berney
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