Tuesday, May 12, 2009

$NASI - Nasdaq summation sell signal


The fast line printed a red line today. This indicator tends to lag at least a few days but is fairly reliable of marking an intermediate trend. What it doesn't do too well is give one an idea of how long or fast a trend will go so it is something I use just as reference.

When the lines cross, that produces the second level of confirmation.

That having been said, I did close out my RIMM puts and sell my TWM on the large move today. Will look to reload at a better price but does appear a correction of at least a few weeks is on its way.

Financials and energy also look to be correcting/ consolidating for the intermediate term soon.

http://stockcharts.com/h-sc/ui?s=$NASI&p=D&yr=1&mn=0&dy=0&id=p61059559173&listNum=1&a=161901460

No comments:

Aug 25 - Re-entered (again) GLD short, long LVS, AMZN, NFLX, SHAK

I have been stopped out twice in last few weeks trying to short GLD.  I have a pretty sizeable position of Nov/ Dec GLD/ GDX puts. Also ha...