IN MY OPINION - The market has already crested, and is beginning to roll back. Several stocks have already started their downward cycle, shifting from BULLISH to BEARISH. Check the stocks listed below. (Also, see the DISCLAIMER at bottom of text.)
Tuesday, Oct 27, 2009 (U.S. 7AM EDT)
Based on yesterday’s closing bell, hypothetically, IN MY OPINION, the following Dow stocks have entered SELL Signals using my criteria – and are ICE COLD : (Read the DISCLAIMER at the bottom of the text.)
Sell Signals:
10/23 – BA @ $50
10/23 – BAC @ $16.50
10/23 – GE @ $15.25
10/26 – HD @ $26
10/26 – IBM @ 120
10/26 – JNJ @ $60
10/26 – JPM @ $44
10/26 – T @ $25.50
10/26 - WMT @ $50
The strongest stocks of the Dow are still CAT, MCD, MMM, MSFT, TRV, UTX, and XOM.
I expect to see them falter shortly, as well.
The rest of the Dow stocks fall somewhere inbetween, with the exception of INTC, KFT, KO, and MRK – all of which are VERY close to entering the sell zone.
IN MY OPINION :
The time for “caution” is behind us. It’s now the time to SELL – and then begin to look for re-entry points among the strongest stocks, when the decline is over.
There are a number of other stocks that I review on my market letter, including Yahoo, Google, eBay, and the various HOT and COLD Sectors of the Economy.
It pays to STAY AHEAD OF THE CROWD.
CAVEAT : As all chartists know and expect, trends can change directions on a dime. Consult your broker or financial advisor before taking any action. You are responsible for your own trades. These are merely my opinions of the market, thus far.
STAY TUNED !
Jack
Log in for a more complete listing of stocks and market activity at http://www.fburg-online.com
Stay current – and “STAY AHEAD OF THE CROWD !”
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