Technical Analysis and Charting

» JenL_3 - Some TA on Today's Market

From Alpha free e-mail TA newsletter - update for Thursday, August 26.

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Dow Jones Industrial Average closed negative after breaking new records!

The trading day on Wednesday: The Dow average rose +42.74, or 0.4 percent, to 11,326.04, passing the record set Monday. Stocks were also buoyed after the Federal Reserve two days ago raised short-term interest rates just a quarter point, as expected, and indicated that will be the last for a while. Eight stocks rose for every seven that fell on the New York Stock Exchange. The dollar rose against most major currencies on Wednesday, fueled by expectations that investors will buy dollars to purchase U.S. bonds and stocks now that many believe the Federal Reserve is done raising interest rates this year. Many investors expect that the Fed will not raise rates again this year. That boosted bonds and stocks and helped lift the dollar. Gold probed a new 20-year low bullion price and set a fresh contract low to little fanfare, with the bottoms tapped late in an extremely light session.

In the Full Version of my Report for Wednesday, August 25, after consulting my trading model I wrote: "If we Open higher (above fair value) we shall bounce off the close, Rally and Trade UP to re-test recent highs 11,360+, and if we surpass that area, the 11,400-450+ should be reached". Well, we closed at 11,324+ (i.e. very close to my target)…

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US Treasury Bond (CBOT) futures traded between 116-25 and 115-16 to close at 116-18 (+1.01+) - we had a huge Rally+!!! The second day of the post-rate hike rally dropped the yield on the 30-year Treasury bond to its lowest level in three months. The 30-year Treasury was up +1 5/32 to 103 26/32, dropping the yield -7 basis points to 5.86%, extremely Bullish+ for stocks: That is why we have the Rally+ in stocks!…….

"Milo Georgieff's Wall Street Letter", a monthly publication, and "The DJIA Tomorrow" Daily Report Newsletter are contributed by Milo Y. Georgieff, MSCE Degree, Editor of ALFA Mdg Corp. Milo Y. Georgieff has Licenses for General Securities Representative and for Investment Adviser with NASD. He is NALU member and is providing an audio commentary in Equity Trading, Technical Analysis and Investing for Atlantic Broadcasting System-Radio, New York.

Trading in securities is a high risk venture which could result in a loss and should not be undertaken without serious independent study. Neither Alfamdgcorp. nor its employees or affiliates including its founder Mr. Milo Georgieff recommends any security for purchase or sale, nor do they recommend any specific approach to investing in securities, nor do they act as Investment Advisors.

For information on obtaining/subscribing to "Milo Georgieff's Wall Street Letter", a monthly publication, and "The DJIA Tomorrow" Daily Report Newsletter via e-mail, contact ALFA Mdg Corp. at alfamdgcorp@mindspring.net

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…..Jen

-- posted by JenL_3

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» RandeS - From the IBD technician himself:

From the IBD technician himself:

"Right now, the risk-reward ratio just isn't in favor of people making any substantial headway in the market," said Bill O'Neil, president of institutional research firm William O'Neil & Co. and chairman of Investor's Business Daily.

"There's not major potential for stocks because the price-earnings ratios are out of line on most of the older favorites," O'Neil added. "So we just think it's going to be tough for a number of months."

So...not much headway, meaning in the vicinity of where we're at right now (11K give or take) around year-end? Now where have we heard that before? Oh yeah, right here at Suite101.com Investing, some time ago.

-- posted by RandeS

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» TONYBRIG - Just the word Technician fries some Chips

Dont you ever mention that title again for
a few days at least. Anyo9ne who can read can be
one and if they cant help you then the S.O.P.
is:

Lets uninstall and re-install Windows!

But regarding Oneill maybe he lurks here?
Lets ask him.

But I like at least the way they teach a little
and not over ones head all the time.
My opinion on charting ebbs and flows all the
time but..... How one can predict the future
specially the longer term by analyzing these
moves independently of any other factors is
very tough and one who could do this is worth
a fortune.
Providing of course he/she knows how to Market.
Same goes for a good Handicapper at the track with
a good R.O.I.

Book recommendations on Charting?

VBOLHH

-- posted by TONYBRIG

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» RandeS - Tony,

Tony,

Dan would be a good one to ask on books about charting. I can't, in good faith, recommend any. One thing's for sure, you don't need any charts to tell you the market is ugly right now.

-- posted by RandeS

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» Thruhiker - Anyone who believes in the crap O'Neill spouts needs to know th

Anyone who believes in the crap O'Neill spouts needs to know that he started a mutual fund based on his stock picking rules that was sooo bad that it was eventually closed.

New USA I "think" was its name. A real stinker.

-- posted by Thruhiker

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» JenL_3 - Some Market TA

This is the long version of the 10/12 "Milo Georgieff's Market TA e-mail Newsletter. The free e-mail newsletter (short version) is available from ALPHA Corp at:

mailto:alfamdgcorp@mindspring.com

The DJIA Tomorrow!

I just receive the free short version of the newsletter, but once in awhile they send the long version as an enticement to subscribe. This one has good analysis and graphs of the indexes showing support levels, channels, breakout points, etc. Some of the terminology used has been explained in former newsletters......Jen

-- posted by JenL_3

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» JenL_3 - Milo's Weekly Stock Picks

Folks - Occasionally on this thread I've been posting from The DJIA Tomorrow!, Milo Georgieff's Market TA e-mail Newsletter. The free e-mail newsletter (short version) is available from ALPHA Corp at:

mailto:alfamdgcorp@mindspring.com

We've been in contact with Milo and asked if he would like to join us as our resident TA expert. He said that he doesn't have time at present, but he would send weekly stock picks with TA charts by e-mail that we can post to the site. So I will start posting "Milo's Weekly Stock Picks" on the "Individual Stocks" thread.

We will work on getting Milo here in person.....Jen

-- posted by JenL_3

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» JenL_3 - Milo's TA on DaimlerChrysler

This was posted on the "Individual Stocks" thread:

DaimlerChrysler :DCX

.....Jen

-- posted by JenL_3

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» JenL_3 - Milo's TA on AMZN

This was posted on the "Amazon.com" thread:

Milo analyzes Amazon.com

.....Jen

-- posted by JenL_3

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» JenL_2 - Milo's TA on Today's Market

This is the long version of the 11/12 "Milo Georgieff's Market TA e-mail Newsletter. The free e-mail newsletter (short version) is available from ALPHA Corp at:

mailto:alfamdgcorp@mindspring.com

11/12 The DJIA Tomorrow!

I currently receive the free short version of the newsletter, but occasionally he sends the long version to entice new subscribers. The long version has good analysis and graphs of the indices showing support levels, channels, breakout points, etc.......Jen

-- posted by JenL_2

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