Market Monitor | stockbee

8/27/2007

Market Monitor

  • Market had a surprisingly strong action on Friday. This week is holiday shortened week plus last week of summer, so thin volume will likely move the market higher in near term time frame.
  • 65 days bullish/bearish ration continues to show market in confirmed downtrend. Rallies during such period have high probability of failure.
  • In seven days market has rebounded vigorously and now is back within a few percent of recent high. Panics are always good buy opportunities as long as you do not get sucked in by all the doom and gloom talk during such panics.
  • Stocks which were not dented by the panic are now starting to breakout, the early part of the bounce was driven by heavily shorted stocks. This bounce is also setting up some potential shorts, as number of stocks are consolidating near their low or rallying on low volume.

6 comments:

Jack said...

Pradeep,

Have you ever used the IBD Custom Market wizard software to find the % movers? or do you prefer your calculations in the T2000?

Also, have you read and N.Darvas trading system books?

Thx
Jack

Pradeep Bonde said...

1 No . I do calculation in TC2000 or my other custom built software.
2 Yes.

Jack said...

Thanks for the info. I have a copy of your equations.

thx

Jack said...

Do your calculations work the same in the newer versions?

thx,
Jack

semsons.group said...

Pradeep,
just a doubt about your numbers. To calcultate the ratios you use absolute numbers, however the total number of stocks is variable (or at least that seems in the screeners). Does not this have an effect on the realibility of your market monitor?.

Best.

Pradeep Bonde said...

I track the total number of stocks traded and adjust the values if the numbers change significantly.