Occupy Wall Street

Thanks to frequent blogger Popeye for the above cartoon sent from “Occupy Boston” part of the Occupy Wall Street movement. You can read his remarks daily in the comments section of blog.

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Jobs Jobs Jobs

It again started in the Comments Section of the blog between frequent bloggers JS and Jim J yesterday [LINK - then scroll down] and hopefully will continue today

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Nestlé’s new French advertisement campaign Contrexpérience for its Contrex mineral water

Pink Bikes and a Stripper

This short work for your reward add from France is creative, funny, sexy and very very clever. Thanks to MW for sending it in. The French woman’s secret -LINK

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Stocks

Bears should take control of US stock markets in the short term as a 1200 point Dow rally from this years low hits some key technical resistance levels.

  • We are directly below key resistance levels on all major US indexes (see chart of S&P 500)
  • We hit some of those resistance levels yesterday and fell back.
  • Our #1 forecasting tool, the McCellan Oscillator is near OMG overbought levels at 75.31 = Bearish
  • Our #2 forecasting tool, the Put Call Ratio, is in overbought levels at 1.31 = Bearish

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Make Friends With A Bear

Its going to be very hard or bulls to push stocks higher in the short term (days to week(s)). The High Frequency Traders, whose algorithms are programed to pounce on news out of Europe are going to need something spectacular to advance stocks. Therefore-

  • Risk On Trade in Effect. There is an above average chance we will see at least a 5% fall before we see a 5% rally.
  • For those that can handle the risk - short stocks (Puts or leveraged ETF’s that short stocks) or sell long positions. Preferable – into any rally today
  • Mea Culpa – Due to my error this risk on trade should have happened yesterday when the Dow was up over 200 points. Link to Tuesday’s blog using calender above.

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Paul’s Corner

YSL 5 Review

Today a brief look at the charts, Stocks listed by best performance top down for the day as sorted by HGSI.  Comments are for education only.

Group performance from the start on Aug 18 to yesterdays close YSL 5 +4.85% vs S&P 500 +5.84%.  Looks like we are a wee bit behind this week.

Chart for your review. LINK

HANS – Hitting resistance, and is extended. All indicators green.

AAPL – Hitting resistance, extended, all indicators green.

CMG – sitting on the 17, buyable, most indicators green

HLF – sitting just above the 50, most indicators green

LULU – parked on the 50, most indicators green

ABV -  Hammer candlestick (usually a reverse coming) sitting at resistance

RES – well below the 50, needs time to decide which way it’s gonna go

TSU – don’t waste your grand kids money on this dog

CROX – Stalled at the 50

ZAGG – just below the 50, most indicators green

AKRX – just crossed the 50 and the 17, most indicators green

CPHD – Pulled back to the 17, usually a good place to buy, I bought a few shares yesterday

NLY – Most indicators red

GMCR – below the 50 and the 17, pull back Wednesday on heavy volume

Disclaimer, Disclaimer, Disclaimer, Disclaimer,

[Editor's Note - Paul is an excellent technical analyst whose insight can be found in the comments section of blog. Right now because of overall short term  bearish market conditions I'd be cautious about going long stocks - If he disagrees you'll here about it in the comments section]

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Long Term Outlook

3 to 6+ months

NEUTRAL*

*Investors411 has 5 different long term valuations - BULLISH, CAUTIOUSLY BULLISH, NEUTRAL, CAUTIOUSLY BEARISH, and BEARISH.

* Everything written in BROWN is a repeat from a previous day(s)

AS ALWAYS, DO YOUR OWN RESEARCH BEFORE INVESTING

ALL TRADING INVOLVES RISK AND POTENTIAL LOSS OF PRINCIPLE

CHECK ALL DATA, I MAKE MORE THAN GRAMER ERRORS.



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