SFE technical, update. Stochastic buy around $51. But...it is not so simple. Much is in the interpretation, and how does it fit in a larger the larger scheme. In other words, is it likely to be reliable? Unfortunately, with a new high in long term rates and the technical damage done so far to SFE, I'm cautious about relying heavily on this buy signal, but am reporting it as promised earlier. [Did buy a small trading position, but will stop out if need be]. So far this year, the buys and sells have been pretty good using this stochastic in the chosen time frame. [One can choose to use hourly, daily, weekly, yearly, or even a decade time period. The trick is using the one that does the job of getting the moves one is trying to catch. Day traders might use hourly, trying to scalp fractions]. I try to get the fairly decent moves that may encompass $5 to very roughly $20 over a period usually two to six weeks, and use the indicator that works best for trying to meet those goals. For example, the last sell was late July around $70. Roughly 3 wks. and $19 points movement. SFE is oversold, looks ready to rally, but if the long bond has even one really bad day from where rates are currently, this nice high PE/no PE stock rally that started two days ago, and SFEs nascent rally will be cut short.
RE: USIT. Looks like it is being supported artificially at $10. Will likely break through that to the downside IMO. Mike |
