Thursday, February 3, 2011

Short candidate update

I had posted ITG might be a short candidate  a week or so ago.  Even though it looks like ITG is ready to issue sell signals I have reviewed it and do not feel it will make a good short candidate at this time.  Here is the chart with annotations showing why:

GL traders

1-30  Update - ITG should be at a point to considered for a short within a couple of days as the 45td cycle and 90 day cycle top together.  Here are charts:

GL traders.  Do your own analysis

02-03  ITG had the expected sell down today.

4 comments:

  1. Do you think ITG is ready to short now? Looks like it?

    Also how do you read NFLXs cycles?

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  2. Seems like NFLX is near time to come down for at least 15 days - seems to cycle every month around the middle of the month. Earnings was the anomaly this time. I suspect it will come back to it's 50 DMA by February 20th. It might have a few more up days (227), but by at least by February 4-7 it should turn down.

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  3. Shadow7 - Thanks, had not looked at ITG for a few days. I believe you are getting the hang of this, and can take over the blog for me soon. :>) See update in this thread. Posted about NFLX under a separate post.

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  4. Again thanks for the response....I don't think I'm nowhere ready to fill your shoes.

    And as always you do a great job!!!

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