Wave B about to finish and correction resume for couple more days (Wave C).

Submitted by Nameless Hero on Tue, 09/29/2009 - 05:30

Gold mining stocks like NXG, AUY are very close to the short term bottom, it is shopping time again.  My strategy is to load up some mining stocks (half of my position so that I won't miss the train) and then wait for couple more days the main market corrects for even better opportunities.

Market correction at Wave B.

Submitted by Nameless Hero on Mon, 09/28/2009 - 07:13

Today's big rally could be the wave B of this correction (reaction wave of the last couple days drop).  I believe it's a wave B because 1, global market not in a good mood.  2. Most of the stocks not giving a buy signal yet.  I will wait for a better chance to enter the market again.

Market correcting sideways.

Submitted by Nameless Hero on Fri, 09/25/2009 - 05:24

This correction started since Sep 21 and it's been correcting sideways.  Crude is at it's short term bottom and could be a good entry point if there is no wave C.  The next rally after this correction could be lead by gold and crude oil, just a guess.  We never know if this is the market top but just pretend it is not and trade with cautions.

Market correction confirmed as of this time.

Submitted by Nameless Hero on Thu, 09/24/2009 - 07:05

My model confirmed all 3 indices trends have reversed as of this writing, unless there is something big and suddenly boost the market, otherwise this correction may last 2 weeks from now.  The level of correction is unknow, Dow could either go sideway slowly or go sharply down to 9,000.  Yesterday, HSI index dropped 540 points was a hint for this correction.

Kraft Foods (KFT) under wave C.

Submitted by Nameless Hero on Wed, 09/23/2009 - 07:53

Wait for couple more days to let the price unfold before accumulating it.  Fundamentally a good stock where the risk is minimal, just ride the wave.

Market still keep going...

Submitted by Nameless Hero on Wed, 09/23/2009 - 01:34

Nothing special, only one of the S&P index shows reversal signal on one day, but it back to normal later. The other two indices still in bull mode. We need all three in reversal to confirm a true correction begins. Bank sector and commodities leads the market back to rally. I won't add any position at this level but to gradually unload my inventory. We'll see.

Market correcting.

Submitted by Nameless Hero on Mon, 09/21/2009 - 10:44

My model confirmed S&P already start correcting today, but Dow and Nasdaq not confirmed yet.

Short term sees USD strong.

Submitted by Nameless Hero on Fri, 09/18/2009 - 08:36

UUP has huge volume today, also chart on FXA, FXC shows bearish.  Short term USD might at least have a bounce.

Market very close to a correction.

Submitted by Nameless Hero on Thu, 09/17/2009 - 10:44

My model shows that the market is pretty close to a correction, not confirmed yet.  This is a perfect time to take some profit off the table, I like to lower the risk and wait for another setup.

Crude may have hit a short term bottom.

Submitted by Nameless Hero on Tue, 09/15/2009 - 18:01

My model shows crude could have hit a short term bottom, a good entry point.  Good vechicles: USO,OIL.