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Despite the bullish open, all major indexes put in
lower lows as expected today. The disappointing thing is the sell off was not
severe enough to reverse the longer term model. This implies underlying strength
and may signal a mild correction here. Drat, I just hate it when the market
doesn't do what it is supposed to.
The bullish report on oil inventories today acted
as an impulse to delay the ultimate reversal and decline in the energy sector.
Lesson learned - do not short before a major report - I did and got burned
pretty good.
Gold did reverse and should continue down for
awhile.
Tomorrow is now somewhat uncertain for stocks. We
have had several days of correction in the semis, biotechs, software and other
sectors and are at bullish support for most. Buy and sell candidates are about
equal for tomorrow andthere are few Near Impulse dates to consider here so may
be a sideways day until Greenspan speaks.
Jim
----- Original Message -----
Sent: Tuesday, June 07, 2005 12:26
PM
Subject: [RT] tomorrow
My models are signaling a lower low for NAZ and DJIA
tomorrow. The longer
term model has not yet signaled a reversal but it is
within two days of such
a signal. The longer term signal is good for mutual
fund switching .
Curiously my short term trading system has only given me
short opportunities
this week and most have proven profitable.
I am also
short gold today and energy stocks tomorrow.
Jim White
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