correction

Fake correction followed by a fake rally?

Posted by Investing Freak on August 27, 2009
Market Analysis / 1 Comment

The past 4 days The S&P and many other markets have traded within a very narrow range.
There have been doji candles galore. trendlines, averages, bullishness ratios and even the Elliot Wave expert said rally is ending and a correction will come sooner or later that will surpass the march low.

I have taken the liberty to put up a few $SPX charts with possible short term outcomes.

The big picture is in the first image (Click to Enlarge)
I am looking for the S&P to go to 1010 to lure in bears and then bounce off the trendline and make a higher high to fool the  bulls and shake the bears. Then lastly (not in these pictures) I am looking at 950’s as a conservative bet.

spx-aug27-09Here is a closer look short term view.  Upside target is 1040-1050.
spx-aug27-09-closeI hope you enjoy my opinion and feel free to comment your own.
-K

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8-20-2009.. another repeat of 7-13-2009 ?

Posted by Investing Freak on August 21, 2009
General / 1 Comment

If you have been following my current picks page you might have noticed that most of the symbols received buy signals on 7-13-2009 which is when the March rally was coming to a correction but then bounced. Will we have another case of this with 8-20-2009?
I was hoping we wouldn’t that is why I posted those charts yesterday thinking  we had topped. Well my automated strategy was saying otherwise and I completely Ignored it.

Normally I would just update the current picks page but this time around I have decided to make a blog post.
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Market Indices and other important Quotes
(Note: I understand you can’t purchase an index so bear with me these are just signals)

Symbol

Buy Date

Sell Date

$SPX

8-20-2009

$INDU

8-20-2009

$COMPX

8-20-2009

QQQQ

8-20-2009

IWM

8-20-2009

SPY

8-20-2009

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The Rest of the Symbols (More will be added per request)

Symbol

Buy Date

Sell Date

IYR

8-21-2009

AAPL

8-20-2009

DRYS

8-14-2009

SDS

8-20-2009

SRS

8-20-2009

SSO

8-20-2009

SKF

8-20-2009

UYG

8-20-2009

URE

8-21-2009

JNK

8-21-2009

HYG

8-7-2009

REW

8-20-2009

QID

8-20-2009

QLD

8-20-2009

XLF

8-20-2009

DIG

8-20-2009

DUG

8-20-2009

SMN

8-20-2009

VXX

8-19-2009

The VIX  ETF signaled a sell before the rest of the signals came in the following day. That is interesting.

-K

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Sell Tech?

Posted by Investing Freak on August 16, 2009
Market Analysis / Comments Off on Sell Tech?

If you check the Current Picks Tab you will see I have updated it again.

After running my strategy… $COMPX , $QQQQ, $IWM, $IYR, $QLD, $URE are all on the SELL list.

I am wondering if the tech sector (COMPX, QQQQ, QLD) is the first one to lead the next correction or if it is just lagging the seemingly never-ending rally of the current market.

Stay tuned and keep checking my twitter for more info. (either on the right column under “Latest Updates” or at http://www.twitter.com/investingfreak )

-K

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