Professor’s Comments July 3, 2013

Posted by professor  at July 9th, 2013

The Dow fell 42 points in choppy pre-holiday trading, closing at 14,932. Volume was light on the decline, coming in at 85 percent of its 10 day average. There were 121 new highs and only 33 new lows.

Several of the stocks and ETFs that we had been watching on the 60s were triggered yesterday, including shares of FXP, EEV, and DXD. So now all I plan to do is manage the trades.

The shares I purchased yesterday are the ‘Eatin Cake’ of my BTC-ETC strategy that I teach in my PT Course as Best Time to trade #3. So now I have two lots of these ETFs. An original position that was purchased when the Daily’s turned Green, which I will continue to manage based on the Daily Chart. And now, a second position which is sized at half the shares of the original position, that will be managed on the 60s.

The Dean’s List improved significantly last night, almost turning positive. I didn’t turn the cockpit light Green because the DIA and DDM were noticeably absent from the List. But it did improve for sure. I’m not sure what the Dean is telling us at this point, but it really doesn’t matter going into today’s trading as all of the PT indicators on the charts are very negative. And we always use the Dean’s List together with the other elements of the SIGN.

So even IF the Dean starts to turn positive, I will need to see a positive pattern, and positive PT indicators before I can do anything to the long side.

Right now, I’m just managing my short trades.

That’s what I’m doing,

h

The markets will be closed tomorrow, 4 July, for the Independence Day Holiday. Trading will resume on Friday. My next Update will be in my WSR this weekend. Meanwhile just manage the trades.

Also, Joan T. plans to start a “Panera Meeting” in Manderin (I-295 and San Jose) on Tuesday, 9 July at 6pm. The purpose of the meeting will be for a small group to get together periodically to discuss stocks, and exchange information about The Professor’s Methodology. If you are interested in attending, please write Joan at trawickj@comcasr.net.

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