Monthly Archives: March 2020
Professor’s Comments March 26, 2020
Posted by OMS at Mar
The markets staged another strong rally early yesterday but gave back about half the gain by the close. The Dow reached an intraday high of 22,020, which was only 80 points from the upper level of the target high (22,100) I mentioned in yesterday’s comments. Once the Dow approached this high, it pulled back to […]
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Professor’s Comments 3/25/2020
Posted by OMS at Mar
Yesterday’s rally was likely part of retracement Wave ‘a’ of 4 or B up. This wave has the potential to carry the Dow back to the 21,300 to 22,100 level before it completes. After that, the Dow should decline to about the 21,000+/- level in Wave ‘b’ down before Wave ‘c’ of 4 or B […]
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Members Watch List March 24, 2020
Posted by OMS at Mar
Ticker: Name: Rank: Price: VXX S&P 500 VIX Short Term 39 51.13 DXD ULTRASHORT DOW30 PROSHARES 26 42.94 QID ULTRASHORT QQQ PROSHARES 14 30.05 RWM SHORT RUSSELL2000 PROSHARES 13 56.46 BIS ProShares UltraShort Biotech 10 17.93 SSG PROSHARE TRUST ULTRASHORT SE 10 18.50 TLT iShares Lehman 20+ Year Treasury 4 166.00 EUO PROSHARES ULTRASHORT EURO […]
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Dean’s List March 24, 2020
Posted by OMS at Mar
Ticker: Name: Rank: Price: DUG PROSHARE TRUST ULTRASHORT OI 46 164.40 VXX S&P 500 VIX Short Term 39 51.13 SKF PROSHARE TRUST ULTRASHORT FI 31 29.67 SCO PROSHARES 2X SHORT Crude Oil 28 38.75 DXD ULTRASHORT DOW30 PROSHARES 26 42.94 TWM ULTRASHORT RUSSELL2000 PROSH 26 27.15 EPV ProShares UltraShort Europe ETF 25 53.75 EEV PROSHARES […]
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Professor’s Comments Update 3/24/2020
Posted by OMS at Mar
With the Dow up over 1,300 points, and energy stocks following the rally, the Model is selling its shares of BP at 20.85. I’m starting to see some negative divergence on the short-term bars which suggests a pullback. If the pullback occurs, the Model will consider re-entering the trade. But for now, BP was purchased […]
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Professor’s Comments March 24, 2020
Posted by OMS at Mar
The markets continued their decline yesterday, waiting for Congress to do something to help the American people. The Dow was up in yesterday’s pre-market when it appeared that a deal between moderate Democrats and Republicans in the Senate on a Covid-19 relief bill was close to being agreed on. However, once Nancy Pelosi flew in […]
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Professor’s Comments 3/23/20
Posted by OMS at Mar
Most of you know I’m not a big fan of the ADX for identifying trends. But like every indicator, it does have a few redeeming characteristics. One of them is when the ADX reaches an extreme level, like it is now. Looking back, whenever the ADX on the Dow had a reading above 40, it […]
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Members Watch List March 22, 2020
Posted by OMS at Mar
Ticker: Name: Rank: Price: VXX S&P 500 VIX Short Term 46 62.00 DUG PROSHARE TRUST ULTRASHORT OI 35 148.88 DXD ULTRASHORT DOW30 PROSHARES 16 37.30 EQT Equitable Resources Inc 16 8.08 RWM SHORT RUSSELL2000 PROSHARES 11 54.57 SSG PROSHARE TRUST ULTRASHORT SE 8 19.09 QID ULTRASHORT QQQ PROSHARES 7 27.98 BIS ProShares UltraShort Biotech 5 […]
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Dean’s List March 22, 2020
Posted by OMS at Mar
Ticker: Name: Rank: Price: VXX S&P 500 VIX Short Term 41 60.55 DUG PROSHARE TRUST ULTRASHORT OI 29 143.77 SCO PROSHARES ULTRASHORT DJ-AIG 20 37.74 TWM ULTRASHORT RUSSELL2000 PROSH 18 26.39 EPV ProShares UltraShort Europe ETF 17 53.55 SKF PROSHARE TRUST ULTRASHORT FI 17 26.62 DXD ULTRASHORT DOW30 PROSHARES 16 40.51 SDS ULTRASHORT S&P 500 […]
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Weekend Strategy Review March 22, 2020
Posted by OMS at Mar
Wow, what a week. After being up 444 points early Friday, the Dow pulled back to close 913 points down, closing at 19,174. It was down 4,011 points, the worst weekly decline ever. It was more than twice the weekly declines experienced in the market crashes of 2001-2002 (-1,369 points on 21 September 2001) and […]
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