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Friday, June 15, 2001: Another Upmove
Expected . . . Buy with Stop Loss. The
NASDAQ has dropped about 10% in the last
week-and-a-half since our sells on
semiconductors and biotechs, but we did not have
a sell on the market, so you should still be
invested. For those who haven't had a chance to
get in yet, we now have a follow-up buy on the
NASDAQ/technology, at levels just a little below
where the last buy signal came. We have over a
10:1 ratio of bullish to bearish signals, and
our proprietary index has reached a175 (a value
of 150 on the bullish or bearish side signifies
a buy or sell, respectively, if our other
criteria are met), and the other criteria we
need for a buy have been met, so we expect to
see an upmove starting in the next day or two.
There is some risk, however, of prices (which
are now at the bottom of a several week trading
range) breaking out to the downside. Some areas
have broken below their 50-week moving averages
for the first time in months. Thus, although we
feel the market is likely to move to the upside,
if the NASDAQ breaks below 1930 or so, we would
recommend closing out long positions.
Thursday, June 7, 2001: Sell-offs on
semiconductors and biotechs expected. May lead
to weakness in other technology areas.
Friday, June 1, 2001: Movin' on Up
. . . Buy. Six weeks after the last market
commentary we put out, the NASDAQ is sitting
approximately 4% below its level at that time.
It has moved no more than 6% in either direction
since. However, the NASDAQ and most stocks in
the technology sector have completed a basing
pattern that over the last couple of months. We
have more than a 10:1 ratio of bullish to
bearish signals and yesterday our proprietary
index reached a value of 175 on the bullish side
(a value of 150 or above on the bullish or
bearish side tends to signal a buy or sell
signal, respectively, if all other criteria are
met). We believe that markets are poised for
another substantial rise.
· July
2001
· May
2001
·April
2001
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March
2001
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February
2001
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