Wednesday, January 13, 2010

Signal Update for Wednesday, January 13th

Folks, I've cought the flu bug so I've been out of commission.  I rarely get sick so this is hitting hard.

In looking at the GGT LCR change timer, with the action on Tuesday we've signaled a change from Long (+1) to Long-Cash (0).  This change arises because within the underlying database, more stocks are falling in their recommendation than are rising.  Presently, we have a LCR value of 2.400, based on 2683 stocks with a long recommendation and 1118 stocks with a cash recommendation.  This value fell Tuesday from Monday's value of 3.203, a significant drop.

The 13D EMA of the LCR is horizontal in slope; continued weakening will cause it to point down and intersect the other EMAs, a clear sell signal for long positions.  All of the other EMAs (21/34/55/65) are all slowing dramatically and if they move horizontal contra ETFs will look attractive.

I picked up another 25% position in TBT, for a total of 50%.  Picked up positions in CELG and BRS, both of which look good in terms of GGT (both are long), both meet Elder's entry for today, and both have upward pointing RR-Track patterns for their 65 EMA slopes.

I've sold HL and MNRO, both for a loss, b/c both have turned to New Cash.  RT's on HL are poor, which should have prevented me from entering, and RTs on MNRO are breaking down to the lower side.

None of the New Long stocks from 1/12 look appealing at this point.