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From
the Trading Turret - January 12, 2005
Current Field Position
1. Offense or Defense?
NYSE Bullish
Percent is in Bull Confirmed Status – Xs @ 76%
Optionable Stocks
Bullish Percent is in Bear Alert Status – Os @ 64%
OTC Bullish Percent
is in a Bear Confirmed Status – Os @ 56%
2. Sector Bell Curve. Average Sector
Bullish Percent is 63.23%
3. Favored Sectors: Drugs, Internet,
Computers, Biomedical, Software, Electronics and Telephone
4. Strategy: Two of three major
indicators have gone to DEFENSE.
We are moving from
offense to defense or the Capital Preservation Mode. There’s
no need to panic. Remember, we have a game plan in place. We have been
meticulously examining each position we own and have adjusted stop/loss
points accordingly. We are trimming back positions and once stocks hit
their stops, they will be sold and the proceeds placed into a money market
fund. This will reduce our equity exposure slowly. Other position
management tools include: taking partial profits, setting stops, writing
covered calls and initiating positions in a few of the Rydex Inverse Funds.
My goal here is to remain comfortable with what we have left on the table.
This week’s comment…
That’s about
it for now. Have a great week!
Bob
Robert Christy is a professional trader,
author and money manager. Mr. Christy is also the President/ CEO of Christy
Investment Group, Ltd., a registered investment advisory firm. At the time
of publication, Mr. Christy may from time to time write about stocks in
which he, Plato Advisors LLC, or Christy Investment Group, Ltd. has a
position. In such cases, appropriate disclosure is made. Under no
circumstances does the information in this column represent a specific
recommendation to buy or sell stocks. Mr. Christy appreciates your feedback
and invites you to send it to
rac@christyinvestments.com.
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