Actually, I think he bailed a few days ago. The Santa rally came early this year and we closed out 2009 with some significant selling pressure in the final half hour of trading, but volume was still pretty light overall. There's not much to be gleaned from the action again so I'll not pretend to know what's going to happen next week when the post holiday trading begins. Here's the charts:
All four remained on a sell, but notice NAHL and NYHL actually moved up a bit in spite of the late selling pressure. I thought that was a bit odd.
TRIN and TRINQ also remain on a sell, but BPCOMPQ moved up a smidgeon. That's the one bullish aspect of these charts that keeps me from being bearish. I am neutral going into next weeks trading.
No changes for our Top 50.
So the Seven Sentinels remain on a buy with BPCOMPQ the lone holdout. But in this light volume activity we've had I cannot read too much into that. We'll just have to see how the first week of the new year unfolds before I can have any confidence in my chart interpretations.
Happy New Year everyone, and may 2010 be a better year for us all!
All four remained on a sell, but notice NAHL and NYHL actually moved up a bit in spite of the late selling pressure. I thought that was a bit odd.
TRIN and TRINQ also remain on a sell, but BPCOMPQ moved up a smidgeon. That's the one bullish aspect of these charts that keeps me from being bearish. I am neutral going into next weeks trading.
No changes for our Top 50.
So the Seven Sentinels remain on a buy with BPCOMPQ the lone holdout. But in this light volume activity we've had I cannot read too much into that. We'll just have to see how the first week of the new year unfolds before I can have any confidence in my chart interpretations.
Happy New Year everyone, and may 2010 be a better year for us all!
