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Neurodoc
Neurodoc vip
P&P Score: 99.59   Points: 233.59   Accuracy: 47.76%   Average Pick Score: 0.45   Annual Return: 11.76% (39.03% since 10/18/08)  

Neurodoc's Blog : Distribution days starting to pop up on major averages

Date August 7, 2009    Comments Comments (4)    Rate this post Recommend This Post (47)   
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looks like 1-2 so far. I called them prematurely earlier in this rally and bought short ETF's and lost some of the gain of the continued rally. 3 clear distribution days signals caution (get off margin)--4-5 look out for downturn and get mental stop losses in place. The volatile stocks on my earnings estimate screens are taking hits, as may be the RUT and SML . I'm still buying for a possible continued rally but may start to raise some cash if stop losses dominate over gains.


4 Comment(s):

Author MightyMo     Date August 7, 2009 10:18 Abuse this post Report Abuse
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Many believe that the Jobs report today was the final confirmation that we are coming out of the recession. If that's the case, the stock market as a leading indicator will be in Bull mode.
Author Neurodoc     Date August 8, 2009 19:05 Abuse this post Report Abuse
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Looking at volume Fri the action was mixed--on balance still looks bullish as 13wk EMA/32wk EMA trying to cross over on other averages besides Nasdaq
Author Fliujniligui     Date August 10, 2009 22:41 Abuse this post Report Abuse
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All depends on fundamental strengths underlying individual picks. Raising cash makes sense, then watch the big fat bargains become better buys and buy some and more as it dips more. Do the analysis correctly because failure will kill if you continuously buy more of a bankrupted company.
Author Neurodoc     Date August 12, 2009 23:23 Abuse this post Report Abuse
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Depends on one's strategy--I have a few bio stocks long term but mainly trade weekly on earnings estimate revisions (which usually work well it seems on my first trading day not recognized at P&P because the pricing is clocked at the close of the trading day). Meanwhile rally has resumed making above distribution days less important.

Good investing!
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