Signals: T.A. Update for Oct. 10, 2008.

For those of you who have inquired, the "Yi" is my own proprietary overbought/oversold indicator. A +10 reading generally indicates we are overbought in the overall market, and -4 or a -5 reading is telling us the market is a bit oversold. The "zero line" in between the plus and minus readings will sometimes act as an area of support or resistance, so I tend to keep an eye on that level also. A reading of +20 is extremely overbought, and a -10 indicates the market is extremely oversold.

Friday, October 10, 2008

T.A. Update for Oct. 10, 2008.

Yi: -5
Possible bottom here for: CPSL, GLW, UGP, WHR
Trying to bottom out in this area: ACF, GF, VNBC
Extremely oversold here: IWM, MOT, PTR, ROK, TSM
Attempting to break above the 28 DMA: GFI, GG, SLV
Attempting to break above the 65 DMA: CEF
Moderately overbought now: ABX and GTU
Good luck to all today, and of course as is always the case, anything posted here could be way off base.

Friday, October 10, 2008

T.A. Update for Oct. 10, 2008.

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