Ai-ai-yi! The top ten stocks in my nifty-fifty today after yesterday (see below today):
With the major indexes up yesterday for the fourth day -- this from yesterday's post (below):
...the NYMO was down slightly today and my nifty-fifty stock list clicked down from 46 on buys to just 43 (still, that's a lot, and there's upside momentum in those numbers) so I consider this first, four-day McClellan swing from the open of 3/28 to be over. It was strong -- led by TNA, up 10.4%, SOXL up 10.1%, my favorite, TQQQ up 7.7%; all ten of the ETFs I follow were up. Forty-three of the nifty-fifty were up and all ten of the top-ten, led by RTRX up 19.2% and BITA, also up 19%.
What a difference a day makes. Today, nine of the ten ETFs I follow are down, forty-four of my nifty-fifty stocks are currently down, and my top ten stocks, at the moment, look like this:
Good luck and good trading.
Didn't get fully loaded on this swing (no NYMO low above a low) but sure wish I had. V-bottoms are frustrating like this.
Anyway, the NYMO was down slightly today and my nifty-fifty stock list clicked down from 46 on buys to just 43 (still, that's a lot, and there's upside momentum in those numbers) so I consider this first, four-day McClellan swing from the open of 3/28 to be over. It was strong -- led by TNA, up 10.4%, SOXL up 10.1%, my favorite, TQQQ up 7.7%; all ten of the ETFs I follow were up. Forty-three of the nifty-fifty were up and all ten of the top-ten, led by RTRX up 19.2% and BITA, also up 19%.
So what now?
I'm looking for the low above the low on the NYMO to get fully-loaded (and sure hope it is not tomorrow since today's one-point drop is hardly a nice safe sustainable low), and as I've been saying since 3/25 (see below) if it comes above the zero line (the NYSI is rising), which is now likely, we taking out highs all over the board. In the meantime, I'd like to see prices back off for two or three or four days (which would be just great) but not really expecting that to happen.
Basically, the bears have to butcher this market right now or they're probably dead until...maybe...May.
Good luck and good trading.
Yes. Yes.Signs point to yes.
V-bottoms are irritating even when they come off double-bottoms on the NYMO. Although this swing has been splendid, still looking for a low above a low on the NYMO to get fully loaded for a more sustained rally, and suspect if it comes above the zero line it's going to signal that every high in sight will be fairly easily taken out.
Good luck and good trading.
http://stockcharts.c...96383758484.png
