Wednesday, October 21, 2009

GGT Notables from Tuesday, October 20th

GGT Price fell from $19.70 to $19.51 on average volume of 1.49M shares. All pricing EMA lines (> 8d) are still with a positive slope, although they are under pressure. The upper pricing channel line is at $19.97 and is 2.4% away from the present price; the bottom channel line is at $18.76 and is 3.9% below the current price.

If you are not hedging with a Contra position, you're getting too late to do so, according to the present channel position of GGT.

The GGT LCR fell from 1.566 to 1.352, indicating that 2883 stocks have a long recommendation and 2133 have a cash recommendation. The 4-day trend is DOWN. The change trend is whipsawing, meaning that we keep bouncing between up and down. It's difficult to make any money trading broad indexes in this market, so I'm not trying.

GGT strength is about mid-scale at 0.58, and the trend is DOWN.

GGT pricing is now lower than both 1 week ago as well as 2 weeks ago, which is a warning sign.

Here are the strength numbers of various indexes:

DJ30: 0.658, down from 0.764
NDX100: 0.573, down from 0.688
Brazil: 0.563, down from 0.640
Russia: 0.833, UP from 0.777
India: 0.411, down slightly from 0.411
China: 0.844, down from 0.987 (did you enter FXP?)
S&P500: 0.669, down from 0.813 (did you enter SDS?)
S&P400: 0.560, down from 0.754 (did you enter MZZ?)
S&P600: 0.463, down from 0.680 (did you enter SDD?)
Russell 2K: 0.409, down from 0.684 (did you enter TWM?)

In the DJ30, we've had a NEW CASH/AFF CASH appear on the following: BAC, DD, VZ, and INTC.

The list of NDX100 stocks that are NEW CASH/AFF CASH are (in no particular order):
QCOM
CTAS
VRTX
BIIB
WYNN
BBBY
PDCO
CEPH
GENZ
MRVL
PPDI
HOLX
AMGN
PAYX
INTC
FAST

For Brazil, I'm look at the following: BAK and ERJ; both are NEW CASH

For China, here are the NEW CASH/AFF CASH:

XIN
GU
ATAI
NTES
SOL
ATV
EDU

If you find good candidates in these, drop me a note or post a comment.

Happy hunting!

Regards,

pgd