It was an up day but not by much. I expected a lot more and didn't get it although the stocks I'm in currently did well. Those are GGB and OI - AGIX was stopped out. Candidly as I said in the Dead Cat Bounce post - they are going up or they will probably stop out so set the stop close - I did and it did. I added to OI. My day trade BMR also stopped out but that was this morning.
Since I missed most of the day this will be brief this evening. I see that MSFT made a few cents today as did AAPL. I would have expected AAPL to have done better but it is still considered a "tech" stock and as such it follows the market up and down. GOOG on the other hand is an internet stock and it went down today by a few cents. That kind of describes the market thoroughly - totally random lurching around with no direction. It wants to go up and it wants to go down. Best thing to do is wait till it picks a solution to its problem and then go along with it.
The model portfolio went up to 6.91% from 6.02 and the benchmark went to 1.13%. We're going nowhere fast - I didn't make a portfolio for those stocks I isolated yesterday yet - maybe tomorrow.
The INDU ATR went back up again and that is not good - it printed 112.61 at the end of the day. We need it to continue down in order to have the market go up. Then after it gets into the 90's or so we want it to sit there and stay above 80. That would be perfect.
The VIX is now 7% over its 10-period moving average and the up/down ratio is 51% - a lot of neutral going around all of a sudden. The New MoMo is still looking good and has transitioned to under the line but not yet at -.005% which is the target for sustained upward movement -
I'm going to forecast tomorrow as another up day.
The coin says that tomorrow will be ... heads - the coin thinks it will be up as well.
The score now stands at Marlyn 24 - 20 and 8 and the coin is 24 - 20 and 8.