DrBob: "*****REQUEST***** I would like all lurkers and posters to share their short term forecasts, and especially their favorite stocks (and why) for the next 3-5 months (position trades), so that our community here knows about the good stocks to research, ok?"
DrBob, thanks for all you do to provide confirmation and/or a contrarian view (even more valuable!) of my own TA.
I am a swing trader, so I don't know if you wanted to see my shorter-term picks. I am long ASPX, COBT, and a smaller position in NTIQ.
My view of the market is ... well, first here's a picture of the chart I use to monitor the NASDAQ...
photos.yahoo.com
The most telling thing on this chart at this time is the OBV. Notice the damage done to the OBV from late March to mid-April. It took us from mid-April until Aug 28 (marked with the vertical green line) to repair all that damage. We were actually in new OBV territory from Aug 28 thru Sep 1.
Now notice the extent of the OBV damage done in September. Pretty severe, huh ? So, first we need for the MACD red line to successfully cross up over the blue line, then successfully cross the zero line and start soaring above it. However, that will do us no good unless we can repair that OBV damage. Translation: we desperately need some serious volume to come back into this market. Today was a good start - 2.0 billion, but there is much more damage to repair...it may take some time.
3Putt...remember those tight stops, everyone...out |
