Here are my studies of last year's DIIG chart:
I also read our posts to see if any news had came out from the
company that would make DIIG suddenly go up on Feb. 24th.
There wasn't any.
Last year in Feb. during the downturn, volume was light, like it is
this year. Moneyflow was green for the month, same as this year,
yet the price kept heading down slowly, its happening the same
way again.
The day before the move up, on no news, volume suddenly picked
up, the next day the price started its move too. Last year it kept
hitting its head on the 30 ceiling in March. We were in the
Greenspan watch so the markets generally were not doing well.
This year we are seeing much better market conditions in spite of
the Asian worries. Dow at record high, and Naz lookin good.
Could we go past the ceiling this time?
Oh, one more thing, Dell is reporting this week and HWP, they
usually give a boost to the naz, maybe not so much HWP, but if it
surprises to the upside, it will.
So we should be looking for a sudden spike in volume to make
our move to either close our covered calls, puts, and be looking at
buying some calls. This all began on Feb. 24th last year. That
doesn't mean it will happen again at the same time, just giving a
time frame. |
