Wednesday, September 28, 2011

Stock pick for 09/28/2011
Ivica at Xpertstocktrader.com

It's always nice when I find an article that, LUCIDLY, describes an idea that I've been trying to put forth in my mostly rambling ways, I'm talking about my running joke of the markets going up and down based on whether some country in the EURO Zone is being allowed to BORROW more money, so they can then pay the interest on the previous money they BORROWED, that they used to support the bonds they PREVIOUSLY issued, and etc etc etc, IE, Ponzi scheme City to the MAX, or Lehman and Bear Stearns TWO, or however you want to describe it,  http://advisorperspectives.com/dshort/guest/Lance-Roberts-110927-Euro-Tarp-Failure.php


The BarCharts Momentum index broke out to new highs above the highs registered six days ago, while the SPY did not, I don't know if it means diddly squat, but it is an interesting positive divergence. You can go here for an explanation of their Momentum index, http://www.barchart.com/education/stocks.php#charts. Other than that, a LOUSY close on the day, with heavy selling the last hour, with the MSM blaming it on, TA DA, EUROPE, hahahahaha, when are they going to go back to the TRUTH, IT'S THE ECONOMY STUPID! Wad ever, I'm sick of hearing about that bunch.
Going into the last three days of the month, AND Quarter, and the first couple of days of the new month, AND Quarter, it's SUPPOSED, to have a positive seasonality bent, but with the NEWSY tape, who knows.


The actual $NYAD's are showing no such positive divergence, IN FACT, they actually made a NEGATIVE divergence at the recent lows, as the SPY closed HIGHER than the closes on the 19th and 22nd, while the Advance/Decline line made a LOWER LOW. I go by the actual A/D's.

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