Hi Reid,
I hope you had a good Thanksgiving.
Here's a couple of charts I found that are still in uptrends, and near their 52 week highs, showing buy signals:
askresearch.com
The 5-3-3 stochastic shows a crossover at an oversold level, but not the 15-5-5 stochastic as yet. Depite the technical (though still very early) buy signals, CERN's failed test of overhead last week concerns me, as does the volume on the selloff last week. I'm inclined to just watch this one for now. Your thoughts?
Here's another, which looks better to me:
askresearch.com
Most stocks that were up substantially today I'll be watching for a short entry point, particularly those Nasdaq stocks which still have P/Es which are excessive compared to their peers, and relatively overbought. I like to see a correction back up to declining moving averages (i.e., resistance), then look for technical sell signals before I enter a short position. Stocks fitting that bill have been very hard to find of late. I'm very hesitant to enter any long positions at the moment, but I also don't like the fact that my portfolio is almost entirely puts and shorts, and would like another long or two to balance things out a bit, and hedge my bearish position.
Let me know what you think.
TIA,
Terry |
