Sunday, March 15, 2009
NICE CHART, eeh? THIS is a 3 LINE BREAK chart of a popular BREADTH INDEX.
To me it says the BULLS will be taking "NO-PRISONERS", as they climb the "WALL OF WORRY".
I havent found a more graphic way to display this, until now.
Keep your powder dry and use limit orders.
GOOD LUCK ALL
So now you ask yourself, what TOP-SECRET mumbo-jumbo am I looking at NOW?
What you see IS what you get. AND it is Nick-Named the ITCHY Chart by me.
ITCHY is the short form of ICHIMOKU, a form of projection, evolved back in the
1930's by some Financial News Editor's in Japan. The rough translation is:
EQUILIBRIUM At-A-Glance. Thats about what it gives me. I combine it with the MACD to give me an idea of the movement dynamics [ THE Dance], rather than volume in a stock.
My basic premise here is this rally will continue to climb the "Wall of Worry" even if it does worry us some with a correction or consolidation here, which would be normal, logical and desirable. THEREFORE, if you choose to enter this market, to ACQUIRE, Limit orders at SUPPORT, below market are in order. If you cant figure support, you can always use the STOCKCONSULTANT box in the right hand corner for a reasonable look at SUPPORT.
As I use this for a model, I came up for some BUY SIGNALS for MY use . USE THEM At YOUR OWN RISK ! ! ! Feel free to reproduce this chart in the FREE sections of
MY only parameter here for a BUY SIGNAL was the POSITION and CROSS-OVER of the MACD Signal.
So for BUY signals I came up with the following potential ACQUISITIONS FOR ME.
PLEASE BE FOREWARNED if you to to acquire any of these issues that I expect the market to re-trench this week before a rally continues. Wrong tho I might be, dont be surprised if you enter any of these issues and fail to show a profit immediately. You may enter a LIMIT BUY Order under the market and see if anyone takes that bait. YOUR CALL, I say ! !
AAUK ; PGH ; WTU ; APL ; SSL ; DEJ ; RBY : MFN ; LBLCF [L.to] ; NGA ; EAD ; GAB ; IM ; STX .
It would not be surprising to see the market sag as you go to ACQUIRE any of these issues.
Next on my menu were the PM stocks and only ETQ and GGN have triggered a positive BUY signal NOW. ETQ is in the process of being acquired, rumor has it so, excercise care in what you pay for it. GGN on the other hand holds a variety of issues and engages in option writing to create income, which hopefully supports that nice dividend.
MDW, THM and MFN are closest to CLOSING the MACD gap which would give a buy signal.
Positive price movements would in fact trigger a closing of that GAP.
Of the Gold Stock Indexes, GDX is farthest from triggering an MACD BUY SIGNAL, but still close. $XAU, the most senior of the indexes is a hair's breadth away from triggering a BUY SIGNAL upon the closing of the MACD GAP.
Do as you will with these as you know their volatility.
Good Luck All