Energy Sector Strength Continues
Income CEFs @ New 52-Week Highs; Profit Taking Explodes!!!
Another useful tool for analyzing an index of your selection universe is a comparison between the number of issues establishing new 52-week high ground vs. those sinking to new 52-week lows. The longer the numbers are overwhelmingly positive, the more likely it is that a correction is approaching.
Superficial analysis is very straight forward --- there should be more new highs in an upward trending market and more new lows during a correction. Typically, New Highs vs. New Lows is the last market statistic to weaken...
- Unfortunately, we will be unable to provide IGVSI only numbers going forward, but you can obtain related information at Barchart.com.
Will you take your stock market profits and/or increase your income this time, as the biggest rally in the history of mankind struggles to reboot?
The New High and New Low issue stats from BarChart.com should be used in conjunction with the IGVSI daily watchlist to identify weaker and/or stronger sectors within the selection universe --- very important in helping investors determine where the bargains are and where the profit taking opportunities should be.
Remember to be quick on your profit-taking feet, using the two 7's beats one 10 "Brainwashing Book" strategy. The correction is more than one year old... but threatening to end shortly... long and shallow corrections produce excellent trading opportunities.
Mutual Fund and ETF Retirees Take Note: The income you are receiving IS NOT BEING PRODUCED by your product holdings... you are now selling "units" and "shares" to pay your bills.
Your "Total Return" is probably still negative, BUT it is your lack of income that is your primary problem.
What's this all about? Check your copy of "Brainwashing" or contact Steve at the number below or at: sanserveataoldotcom
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