Trading with an Edge
You will see that the trenders both went neutral yesterday, that puts doubt in our minds that this thrust from oversold is going to catch and run to new annual highs.
We are expecting a bounce in here, maybe up to last week’s high. We do expect now to see the Zweig work its way back to oversold.
CVI:
50 DPI:
NH/NL hanging in pretty well.
Trenders have turned neutral:
Tom Malone, born in the Midwest, started trading corn futures in the '70s and then went to work with Metropolitan Life Insurance before entering postgraduate work in Florida. His interest in trading deepened when he was given the rare opportunity to work with the legendary Dr. Martin Zweig and the famous Zweig Forecast for two years. To this day, the Zweig Forecast is renowned as the best newsletter in history, and we all mourn the recent loss of Dr. Zweig. Tom's trading has been broad with experience in every commodity traded, but his love is the U.S. stock market and stock picking and market timing. His calls on the market are legendary and in 2007 he was called "the greatest short-term market timer of our generation" by Mike Burk. who has seen tens of thousands over the years. More recently Tom got the trading group leveraged long on Oct. 4, 2011, for the launch of an epic bull run and what may be a new secular bull market. He also runs several unique trading programs that have helped many beat the market.
