Thursday, October 15, 2009

GGT Notables from October 14th, 2009

Obviously, October 14th was a huge day. For those of you who are sleeping like Rip van Winkle, we cleared Dow 10K and held it, finishing stronger by the end of the day.

GGT ETFs finished strong. The question is "Now what?" Are we overbought? Is it too risky to enter equities at this time?

"Trade the market we have, not the one we want...."

Due to a communication error with my PC's at home, I'm unable to access GGT stock information (I'm in Pasadena). So, no input this morning from a stock point of view.

The market we have is certainly supportive of long positions. There is NO support for contra positions, except TBT (20yr short long bond), TYO, and TMV.

TBT gapped up yesterday and finished strong. I'm considering a position if we continue higher than $46.89 after 10 a.m. My target for this ETF is $49.54.

TYO is too thinly traded for my blood.

TMV has been rising in 10d volume and is now at 124K shares @ 10d average vol, and trading above $67.42 would be bullish. My target for this ETF is $68.87.

EFA has signaled "New Long", and a viable target for this ETF is $64.12. I intend to enter with a full position if it trades above $56.71 after 10 a.m.-ish

SPY has signaled "Affirmed Long", and a viable target for this ETF is $114.34. I intend to enter with a full position if it trades above $109.42 after 10 a.m.-ish

VXF has signaled "Affirmed Long", and a viable target for this ETF is $44.47. I intend to enter with a full position if it trades above $42.83 after 10 a.m.-ish.

DRN has signaled "New Long", and a viable target for this ETF is $142.54. I intend to enter with a 33% position (it's a 3x) if it trades above $134.50 after 10 a.m.-ish.

EEM has signaled "New Long", and a viable target for this ETF is $44.77. I intend to enter with a full position if it trades above $41.55 after 10 a.m.-ish.

MVV has signaled "New Long", and a viable target for this ETF is $44.88. I intend to enter with a full position if it trades above $40.54 after 10 a.m.-ish.

HAO has signaled "New Long", and a viable target for this ETF is $28.26. I intend to enter with a full position if it trades above $25.07 after 10 a.m.-ish.

SCZ has signaled "New Long", and a viable target for this ETF is $41.09. I intend to enter with a full position if it trades above $37.71 after 10 a.m.

EWD has signaled "New Long" and a viable target for this ETF is $26.24. I intend to enter with a full position if it trades above $24.20 after 10 a.m.

EWS has signaled "New Long", and a viable target for this ETF is $12.19. I intend to enter with a full position if it trades above $11.19 after 10 a.m.

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Remember, you are responsible for your own trading decisions.

See you Saturday!

Regards,

pgd