Just a quick note this evening with some of the latest results from my computer trading system.
Unprecedented consecutive back-to-back daily chart sell signals were triggered today by my computer trading system in the Morgan Stanley High Tech Index (symbol MSH).
In another more important unprecedented event, consecutive back-to-back daily chart buy signals were triggered today by my computer system in the Pro Shares Ultra Short S&P 500 ETF (symbol SDS).
The Pro Shares Ultra Short S&P 500 ETF moves opposite the underlying S&P 500 Index by twice the amount of the underlying index daily change. In other words, if the S&P 500 Index declines 1% in a single day, the Pro Shares SDS ETF will then advance 2%. In the interest of full disclosure, I have a significant long position in the SDS shares (to fully capitalize on a meaningful stock market correction that is now expected to unfold on the very near-term horizon).
The Pro Shares Ultra Short S&P 500 ETF moves opposite the underlying S&P 500 Index by twice the amount of the underlying index daily change. In other words, if the S&P 500 Index declines 1% in a single day, the Pro Shares SDS ETF will then advance 2%. In the interest of full disclosure, I have a significant long position in the SDS shares (to fully capitalize on a meaningful stock market correction that is now expected to unfold on the very near-term horizon).
Daily chart sell signals were also triggered in the following large-cap stocks: Disney (DIS), General Dynamics (GD), Honeywell (HON), and Merck (MRK), among others.
Weekly chart sell signals have been triggered so far this week in the following stocks: AAPL, AIG, CRUS, F, GILD, NOV, RGC, STX, MRO, WAGE, and XRX.
The latest Investors Intelligence Weekly Sentiment Survey now shows the lowest percentage of bears since 1987. Only 13.3% of those polled in this survey are now bearish on the U.S. stock market.
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| General Dynamics Daily Chart (symbol GD) with Computer-generated Buy & Sell Signals |
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| Seagate Weekly Chart (STX) with Computer-generated Buy & Sell Signals |
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| Tech-30 Index Daily Chart (symbol TXX) with Computer-generated Buy & Sell Signals |
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