12/01/2012 Weekend Update

[Cobra]

Begin with ALGO chart from stocktiming, which I think is the best chart they provide, it's not overbought yet, so guess still some up room before a pullback is possible?

[Cobra]

II and AAII.

[L_T]

At work today as I'm with a hospital that just went live with an electronic medical record. Made me think of a post by jarbo some time back about the health care sector (this is just a piece of what he said) that I remember because it was very spot on:

HC reform itself is really slated to take into effect 2014. Ultimately, everyone is scrambling to “get up to code” on the IT requirements (electronic medical records). Hospitals that are not “up to code” will lose out on reimbursement, which is supportive of HC IT outfits (think McKesson), although that boom has been going on for 5 years now. Providers that are not able to fund capex are jumping into bed with larger players (think: DMC, Loyola health & trinity, and countless others), creating a pretty sizable M&A boom.

This is just an example of how insightful some of the people are here. It's why I read the intraday update every day!

[Mr. BachNut]

Big Picture Update

This is how things look to me from the hilltop.

Descending green line - Three point declining tops line from 2007 high. Broken in September, which is bullish.

Horizontal blue line - I am not an Elliott Waver, but they have a concept that corrective waves retrace 38%-79% of motive waves. So, upside break of blue line suggests bull market will make new all-time highs while failure to break blue line leaves open possibility we are still in big secular bear market and can revisit 2009 low.

Horizontal green line - Prior high. Revisiting old high can provide confirmation of bull trend or failure.

Turquoise parallel channel - Track of current segment in bull trend.

Pink ascending wedge - Some potentially bearish action in the turquoise bull channel.

Three red fan lines - The top two fan lines were cleanly set by significant corrections in 2010 and 2011. So, a break of the third fan line would be a big technical event.
The dashed line tags weekly closing lows. The solid line tags absolute lows.

[Al_Dente]

Latest NYSE Short Interest Report (it always lags but it’s the best short info we’ve got)
Noteworthy:
UPRO 57% decrease in shorts (see the upro short squeeze from 74 to 86)
NUGT 41% decrease in shorts (the shorts covered about 1.3 million shares)
SPY still has 226 million shares sold short, and IWM 157 million shares short (both increased !)
etc…

http://online.wsj.com/mdc/public/page/2 ... tml#shortD

[ClarkW]

At work today as I'm with a hospital that just went live with an electronic medical record. Made me think of a post by jarbo some time back about the health care sector (this is just a piece of what he said) that I remember because it was very spot on:

HC reform itself is really slated to take into effect 2014. Ultimately, everyone is scrambling to “get up to code” on the IT requirements (electronic medical records). Hospitals that are not “up to code” will lose out on reimbursement, which is supportive of HC IT outfits (think McKesson), although that boom has been going on for 5 years now. Providers that are not able to fund capex are jumping into bed with larger players (think: DMC, Loyola health & trinity, and countless others), creating a pretty sizable M&A boom.

This is just an example of how insightful some of the people are here. It's why I read the intraday update every day!

Great stuff, L_T. Where were you 5 years ago Just kidding.

[Al_Dente]

Currencies v SPY
(quite often currencies lead)

[ClarkW]

Silver does not look bullish to me.
- ChiOsc is high on the daily - trendline on RSI broke - Open Interest is extremely high

[ClarkW]

Bear Flag for GDX on daily?

[ClarkW]

My attempt at looking at COT report and see if it shows anything worthwhile.
COT report is as of 11.27

[Cobra]

Conclusion of the week's stock picks.
viewtopic.php?f=10&t=744&p=107109#p107109

[BullBear52x]

Hello weekenders, Evening star confirmed on DIA any one? DOW leads?

all the rest are not so healthy looking either here.

and my silly MO reads sell first ask question later.

[BullBear52x]

My chart of the day goes to........XLF
double top.

Oh! just to be clear where the stop is.

[usctrojan99]

Hello weekenders, Evening star confirmed on DIA any one? DOW leads?

1.JPG

all the rest are not so healthy looking either here.

2.JPG

and my silly MO reads sell first ask question later.

3.JPG

I have a SPY DEC put spread, and would love to see a trend reversal down here. But, wouldn't an evening star want a gap down (Friday, in this case) from the 1st indecision doji (Thursday)? Unless, Monday provides a gap down....

[Cobra]

stock picks for the next week.
viewtopic.php?f=10&t=751&p=107114#p107114

[BullBear52x]

Hello weekenders, Evening star confirmed on DIA any one? DOW leads?

1.JPG

all the rest are not so healthy looking either here.

2.JPG

and my silly MO reads sell first ask question later.

3.JPG

I have a SPY DEC put spread, and would love to see a trend reversal down here. But, wouldn't an evening star want a gap down (Friday, in this case) from the 1st indecision doji (Thursday)? Unless, Monday provides a gap down....

You are right I missed read it by 9 pennies. I thought we open <130.14 double checked and it was 130.25

[ClarkW]

My chart of the day goes to........XLF
double top.

1.JPG

2.JPG

Oh! just to be clear where the stop is.

Great charts BullBear52. I bought a little FAZ yesterday. Agree with you.

[daytradingES]

nta

[daytradingES]

"Golden Bears"

Review 9 for week to 30 Nov 2012
http://screencast.com/t/YFNU1Y0oDbdt

NTA

------
Last week
Review 8 for week to 23 Nov 2012
http://screencast.com/t/xbNor4A325g

[knock]

Silver does not look bullish to me.
- ChiOsc is high on the daily - trendline on RSI broke - Open Interest is extremely high

not Cup&handle shape?