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Here's what the nets saw today...
Sep 24, 2007 - The current problem is that metals, chemicals, and telecom stocks stocks are still running with nothing new to follow directly behind them.
These articles describe the statistical probabilities of long positions on these equities, based on neural net projections, for the next 5-15 trading days. These are not holy grail methodologies, the road to easy street, or anything else. These projections are the result of screening for technically significant retracement and momentum patterns that have been further screened for value and bullish sector performance. In other words, the projections are for long positions. For 09/24/2007: $INDU $SPX $COMPQ Monthly Momentum Negative Negative Negative Weekly Momentum Positive Positive Positive Daily Momentum Positive (OB) Positive Positive Note: (OS) means oversold and (OB) means overbought. The value to price estimate (it is not a guarantee, only a cash flow based estimate) can be defined loosely as a multiplier of price. A number higher than one means the stock is undervalued using this model and a number less than one means the stock is overvalued. Index and ETF I-shares Bullish Reversals None U.S. equity markets continued to march higher on Friday on reasonably strong volume. As stated over the last couple of days, the numbers of reversals that count with patterns are few. Once again, only two stocks, CMCSK, and BWP even came close. Neither of these stocks demonstrates a strong engulfing reversal. Though BWP is in a favored sector currently (natural gas pipelines), the nets did not like the reversal statistics of the bearish XABCD pattern (which is at a C buy point). We are left, once again, with a situation in which no patterns found meet the minimum criteria.
Here’s what the nets saw today: Note (O): optionable Value/Price est. 7 day ATR %( 7 day ATR)/Close Nothing today. Take care, DBB Discuss this article in the forum. ...thanks
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Disclaimer: Please note that charts and commentary provided by the moderator are for educational purposes only. Any trades placed upon reliance on the moderator’s charts or information is taken at your own risk for your own account. Past performance is no guarantee of future results. While there is great potential for reward trading stocks, futures and options, there is also substantial risk of loss and you must decide your own suitability to trade. Future trading results can never be guaranteed. This is not an offer to buy or sell stock, futures, options or commodity interests. Most trading systems are based on historical formulas which have worked in the past. However, what has happened before may or may not happen again. You can lose all your money trading stocks, futures, and options and you must decide your own suitability as to whether or not to trade. Only trade with true risk capital you can afford to lose. Only trade markets you can properly afford to trade. Properly funded trading accounts typically perform better than those that are not. Never risk more than 2-3% of your account on any one trade. Always define your risk before entering a trade and place a stop to limit your risk. There are no guarantees or certainties in trading. Trading involves hard work, risk, discipline and the ability to follow rules and trade through any tough periods during a system’s draw downs. If you are looking for a guarantee, trading is probably not for you. Most people lose money trading. One of the reasons is that they lack discipline and are unable to be consistent. A system can help you become consistent. Ironically, worrying about the monetary aspect of trading can contribute to and cause a trader to make trading errors. Therefore, it is important to only trade with true risk capital.
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