It's Raining Steadily Now... - Voice of the People
November 04 2011 - 1:25PM
Zacks
Zacks highlights commentary from People and Picks Member
«TickerBandit».
For more Voice of the People, visit http://at.zacks.com/?id=7872
Featured Post
It's Raining Steadily Now...
... OK so we've had a nice rally and the broader market
weaken even as it happened. This suggests that weakeness
continues. Up to now, the divergence of the broad market
suggests the weakness that is forecast will be in the context of a
"bull market correction retest" and that new highs will follow this
retest.
Other indicators suggest that this retest will be significant
and stands above neutral probability of trading at or below the
early October low. Notably, the VIX indicates the market
anticipates a great deal of volatility and it has persisted in this
condition. Some sentiment indicators indicate that a trend in
bullishness is inconsistent with a bonafide wall of
worry.
The situation is this. There presently exists a very low
likelihood of continuation of the present rally. Furthermore,
the weakness is likely a tradeable event. So I think one
should significantly reduce exposure to equity. I am
presently at a very low level of exposure having finished divesting
postions yesterday and some this morning.
Given developments in sentiment and breadth divergence, I think
one can abstain from re-entry until an upside reversal event for
tradeable gains. In essence, I am telling you to exercise
caution buying weakness because the present status of prices is
that Bear Market threshholds in divergence are not significantly
improbable and presently suggest neutral probability (which IMO is
not enough to be brazen and cocky about buying weakness).
Happy Trading, TB
The most recent picks by «TickerBandit» are:
A buy rating on Lexmark International (LXK),
a buy rating on DaVita (DVA) and
a buy rating on SanDisk (SNDK).
About the Zacks Community
In 2008, Zacks Investment Research launched PeopleAndPicks.com,
a stock-picking website where members of the Zacks community can
test their strategies and share ideas with other members. Each user
is scored on the accuracy of his or her picks, and top users are
rewarded with free products from Zacks. Registration is free. To
learn more about People And Picks, visit
http://at.zacks.com/?id=7870
Follow us on Twitter: http://www.twitter.com/PeopleAndPicks
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc.,
which was formed in 1978 by Leonard Zacks. As a PhD in mathematics
Len knew he could find patterns in stock market data that would
lead to superior investment results. Amongst his many
accomplishments was the formation of his proprietary stock picking
system; the Zacks Rank, which continues to outperform the market by
nearly a 3:1 margin. The best way to unlock the profitable stock
recommendations and market insights of Zacks Investment Research is
through our free daily email newsletter; Profit from the Pros. In
short, it's your steady flow of Profitable ideas GUARANTEED to be
worth your time! Register for your free subscription to Profit From
the Pros by going to http://at.zacks.com/?id=7867.
DAVITA INC (DVA): Free Stock Analysis Report
LEXMARK INTL (LXK): Free Stock Analysis Report
SANDISK CORP (SNDK): Free Stock Analysis Report
Zacks Investment Research
DaVita (NYSE:DVA)
Historical Stock Chart
From Sep 2024 to Oct 2024
DaVita (NYSE:DVA)
Historical Stock Chart
From Oct 2023 to Oct 2024