Still Gold--Buy Signal
Started by
OEXCHAOS
, Dec 30 2008 12:18 PM
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#1
Posted 30 December 2008 - 12:18 PM
I published this on Sunday night when I should have been having wine with family. I'm just doing a follow up to point out how good this thing continues to be. Note that the data shifted by Monday, but I wasn't going to ignore the excessive readings of Sunday night. I never do once I get past a certain threshold.
We are still on winter break but I saw a few shifts in the sentiment that I thought were worth commenting upon.
First, Investors Intel. showed a large Bullish shift, but it STILL remains in Buy territory. This would allow for a pullback but not too much of one.
Secondly, AAII showed a large Bearish shift, placing it more solidly in Buy territory. This would support more rally.
Most importantly, The Fully Long/Fully Short 1-day is reading 33%. That's a Buy. We'd want to look to buy any weakness over the next two days.
The WSS Surveyees were showing 31% Bulls 44% Bears. Amateurs were showing 67% Bears, and 33% Bulls. Smart Money was showing 33% Bulls and Bears. The Senticator was neutral.
I'm inclined to buy any upturns on the 5' chart if they are on any kind of volume.
Mark S Young
Wall Street Sentiment
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