Friday, May 20, 2016

Ignore the Bounce and Start a 3-day Weekend

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Outlook: (unchanged from Thursday)

Short-term:  markets are in a downtrend
Intermediate-term:  downtrend
Long-term:  Uptrend, but weakening

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Cumulative Tick


Click on the image to enlarge

1) New 52-week lows DOMINATED new 52-week highs --> Do not buy stocks in this climate.
2) The overarching theme on the Cumulative Tick chart is that more stocks are being sold over a 1 day, 2 day, and into a 3 day period.  Until we see the white line above the red line, I'm on the sidelines for my intermediate and long-term stock selections.

Starting my 3-day weekend early.


Stocks that go out through my text alerting service are all Greenfield stocks but I do not advocate any purchases on an extended basis.  We have not established a floor.

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Newsletter:

I intend to finish the most recent edition this weekend and will email to registered subscribers.

If you want to be on the newsletter distribution, then please send an email to GreekGodTrading [ a t ] gmail {d o t] com, making the appropriate changes to the email address, with the word "NEWSLETTER" in the subject and I'll add your email.

As stated above, the most recent edition is here:  goo.gl/e75Ayj

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Twitter:

I've become more active on Twitter.  Find me at grems8544

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As with all my ramblings, you are responsible for your own investment decisions and I am not.  Please do your own diligence, and please take ownership for your actions.  The stocks I have listed here are not recommendations -- they are seeds for you to do your own research.

Regards,

pgd