The View; They Refuse To Go Down
- Posted by ZorTrades
- on January 29th, 2013
A few things that stand out from the spreadsheet;
- Nasdaq is now up 7 out of the last 8 days and according to IBD it clocked its 6 distribution day yesterday.
- The $IYR is now up 7 days in a row with 87% of its stocks above their 10 day MA and 98% above their 50 day (possible mean reversion play).
- $DIA is now up 7 days in a row making $DXD, $SDOW in play for mean reversion plays if one is into that strategy.
- $XLI is up 7 days in a row as well.
- $EEM which was a strong ETF at the end of last year is now down 5 days in a row and approaching its 50 day ma that can act as support.
- You will also notice a great deal of ETF’S trading below their bollinger bands, a few ideas there.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Frank Zorrilla is the founder and chief investment officer of Zor Capital LLC.He began his Wall Street career 10 days after his 20th birthday when he became a Series 7 licensed stock broker. More »
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