Friday, August 5, 2011

Bill Carrigan, technical analyst, Getting Technical Info Services

Bill Carrigan, technical analyst, Getting Technical Info Services

FOCUS: Technical Analysis

Market Outlook: Most global stock bourses are following a classic Elliott Wave count from the March 2009 lows - being a 5-wave advance followed by an A-B-C correction. The 5-wave advance from the March 2009 lows to the April 2011 peak was a typical rebound bull that usually follows a severe bear such as the 2007-2008 financial crisis. A micro-bear market will usually follow a rebound bull. The current micro-bear in most global markets is tracing out a typical A-B-C correction which is almost complete. In the example of the Dow Industrials, we are almost now at support at the 11,500 level.

TOP PICKS:

  • Cameco (CCO TSX) $23.98 - A commodity sensitive large cap that has been sold down to 20 percent below the mean - a level last breached October 2008 @ $14.00.
  • Lake Shore Gold (LSG TSX) $2.15 - A commodity sensitive mid cap that has been sold down to 36 percent below the mean - a level last breached November 2008 @ $0.60.
  • RIM (RIM TSX) $23.04 - A technology / consumer sensitive large cap that has been sold down to 45 percent below the mean - a level last breached November 2008 @ $45.00 - down from a peak of $150 in June 2008.
  • Disclosure:PersonalFamilyPortfolio/Fund
    CCONNN
    LSGNNY
    RIMNNY

PAST PICKS: August 19, 2010

Claymore Global Agriculture ETF (COW TSX)

Then: $19.08Now: $19.97+4.66%TR: +5.00%

Manulife (MFC TSX)

Then: $12.31Now: $13.88+12.75%TR: +15.38%

E.I. du Pont de Nemours & Company (DD NYSE)

Then: $40.59Now: $47.76+17.66%TR: +20.48%

Total Average Return: +13.62%

Disclosure:PersonalFamilyPortfolio/Fund
COWNNN
MFCNNN
DDNNN

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