01/19/12 Dave Landry's Newsletter: Is This The "All Clear?"
Sent Thursday, January 19, 2012
Got Answers?
Q: How do I position myself for long-term success?
A: See page 20.
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Got Dew?
THURSDAY, THURSDAY, THURSDAY!--My most favorite day of the week.
Why? Because it's chart show day. Join me today, Thursday, January
19th at 11:00 AM Eastern for Dave Landry's The Week In Charts.
Go here to sign up:
https://www2.gotomeeting.com/register/988421218
Since I pontificated so much last week, I'm going to give the show
back to you this week. So, if there's something you want covered,
get it in quick. Also, there are some interesting developments in
the market. So, I plan on spending a little more time on the market
and sector action.
Got a Minute?
Here is today's Market in a Minute:
http://www.tradingcommentary.com/mim/mim011912/mim011912.html
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Trading service with low introductory rate:
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Over 5 years of archives are available on that page too.
Got Charts?
I use Telechart Platinum for all my US equity charting and
scanning. Use this link for a free 14-day trial. Email me if you
would like my exact scans.
http://www.worden.com/CURRENTAFPROMO.aspx?AFCODE=136
I use MetaStock for all of my international work:
http://www.equis.com/davidlandry
Got Random Thoughts:
Wow. The market had a decent day. The major indices broke out
nicely past their short-term resistance, pushing further into
overhead supply.
The sector action was very constructive. Areas such as Retail broke
out decisively. Other areas such as Biotech, Materials &
Construction, and Manufacturing (to name a few) continued to
improve. Come to the chart show later today and we'll take a look
at all of this in detail.
So is this the all clear? Well, I'm glad to see that the market is
plowing through the overhead supply like butter. The problem is that
the indices remain overbought. So, it's a dangerous environment to buy
into.
Remain selective and don't bet the farm. If a rip roaring bull
market is on its way, they'll be plenty enough time to buy.
Futures are firm pre-market.
Best of luck with your trading today!
Dave
Questions? Comments? Buy my new book, read it, then shoot me an
email at dave@davelandry.com or call me at(1) 985-898-4993.
Disclaimer:
All predictions are about the future. A lot of $#*! can happen
between now and then.
Information is provided for educational purposes only.
See more disclaimers at www.davelandry.com