Keybot the Quant is long thru the weekend. The algo idled along on Friday without printing any numbers during the trading session. The bulls have pegged nearly all indicators at uber bullish levels and are taking no prisoners. The quant is tracking utilities and semiconductors as two key areas of interest. Keybot prints the pre-scheduled Sunday number tomorrow so the areas and levels of interest for the new week of trading will be set up at that time.
The move to the short side on Tuesday, followed by a whipsaw move back to the long side a few hours later, is worthy of a mention. The market tried to suck in shorts that were then bludgeoned on Draghi's announcement. That rapid of a whipsaw move for the quant has only occurred twice before in over four years for the model which verifies the treacherous nature of the markets currently. Although the bulls are in full control, do not become complacent. The weak utilities remain a negative signal for the interemediate term.
9/9/12; 7:00 PM EST =
9/7/12; 9:00 AM EST = +76; signal line is +63
9/6/12; 9:31 AM EST = +76; signal line is +62
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.