This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at firstname.lastname@example.org or call 800-767-3771 ext. 9339.
Zacks highlights commentary from People and Picks Member «InvestmentMAGE».
For more Voice of the People, visit http://at.zacks.com/?id=7872
A Dow Theory Sell Signal?
Two out of three Dow Theorists have seen a sell signal in the Dow’s recent activity. Hulbert Financial Digest follows three Dow Theory Proponents. Richard Russell, who writes the Dow Theory letters announced in his letter on 29 May:
"The Dow Jones Industrial Average recorded a high of 13,279.32 on May 1, 2012. This Dow high was not confirmed by the Transports. The two averages then turned down and broke below their April lows. This action confirmed that a primary bear market is in progress -- it was a textbook bear signal."
While the other two Dow Proponents adamantly insisted there was no signal, Business Insider interviewed Richard Moroney of DowTheory.com on May 31.
"Yes, we don’t think a sell signal has been reached," he said.
One Dow Proponent identifying the signal and two other Dow Proponents not, prompted me to write this introductory article on May 31.
Then on June 4, Dow Theorist, Jack Schannep, editor of TheDowTheory.com threw in the towel and declared Dow Theory to be in the bearish camp.
I’ve been scanning the news looking for any new feedback from Richard Moroney, the last hold out.
If I see anything I will report it here.If you see anything, please post it below.
The most recent picks by «InvestmentMAGE» are:
A buy rating on First Solar ([url=http://www.zacks.com/stock/quote/fslr]FSLR[/url]),
a buy rating on Avon Products ([url=http://www.zacks.com/stock/quote/avp]AVP[/url]) and
a buy rating on NetFlix ([url=http://www.zacks.com/stock/quote/nflx]NFLX[/url]).
About the Zacks Community
In 2008, Zacks Investment Research launched PeopleAndPicks.com, a stock-picking website where members of the Zacks community can test their strategies and share ideas with other members. Each user is scored on the accuracy of his or her picks, and top users are rewarded with free products from Zacks. Registration is free. To learn more about People And Picks, visit http://at.zacks.com/?id=7870
Follow us on Twitter: http://www.twitter.com/PeopleAndPicks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3:1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit From the Pros by going to http://at.zacks.com/?id=7867.
Please login to Zacks.com or register to post a comment.