|
--------------------------------------------------
From The Trading Turret
--------------------------------------------------
From: R.A. Christy
Editor, ‘From the Trading Turret’
President/CEO, Christy Investment Group
http://www.christyinvestments.com
Date: July 16, 2007
Current Field Position: DEFENSE
Bullish Percent NYSE: Os @ 69.1%
Bullish Percent OTC: Os @ 53.5%
Bullish Percent Option: Xs @ 65.5%
This week’s comment …
Since the last missive, my life has been
anything but dull. First, I broke 2 fingers on my left hand. It happened
while umpiring the Georgia U-18 Triple Crown State Championships,. As a
lefty, my life came to a screeching standstill. With my ring finger and
pinky in splints, I look like Edward Scissorhands. It’s given everyone
around me enough material to do a stand-up comic routine. I never knew
that 2 little bones could cause such a big headache.
Debby and I managed to slip away for a
few days. We made our annual trek to Sandestin, Florida and it was, as
always, a therapeutic and much needed break.
As for the market, our primary indicators
have been on DEFENSE for about a month now. This means that risk is high
and that the underlying foundation of the market is weakening. What
these indicators DO NOT mean is that a decline is imminent.
The correction that we did encounter was
pretty short-lived. Investor contentment and continued merger
announcements have seen traders bid prices back up to the point where
we’re once again banging out record highs on the Dow Jones Industrial
Average.
How far up this takes us remains to be
seen. It wouldn’t surprise me to see a slight pullback here, but any
such decline would likely be nothing more than a prelude to a run at new
highs. The Put Option activity is unusually high and this may be a
precursor to some profit-taking.
As for a trading range, I can’t rule out
getting stuck in one. The boundary on the upper end would be all-time
highs. But this scenario seems unlikely given the overwhelming weight of
economic data showing the economy once again expanding at a very healthy
pace. With second quarter earnings kicking off, things look okay as of
today. Profits are on pace to once again expand at a double-digit rate,
which should spur more buying.
Let’s not forget there’s still a
tremendous amount of liquidity sloshing around in the system looking for
a home. The recent jump in long-term interest rates may have slowed the
pace of private equity deal announcements, but I still see lots of
mergers getting done in the next few months. This buying will beget even
more buying, pushing the major averages even higher.
Operations
The computer snafu continues and I
haven’t managed much on that front since breaking my fingers. I’m still
hoping for relief by the end of the summer. For now, subscribers will
continue to receive buy and sell recommendations via fax and email.
Now that I can type again, I’ll be back
updating the blogs on a more regular basis.
http://tradingadvisor.blogspot.com
http://sell-stocks-short.blogspot.com
That’s about it. Have a great week!!
RA Christy
P.S. Please fee
free to forward this to your peers, friends and associates you think
would benefit from its contents. They will thank you for it - and so
will I!
Sign Up to receive your own copy of ‘From
the Trading Turret’:
http://www.christyinvestments.com
**********
‘From the Trading Turret’
is an OPT-IN e-letter only.
Please be assured we do not spam or give
personal information to third parties--ever.
**********
** CIG ROLLS OUT NEW
MANAGED ACCOUNT PLATFORM **
Is Foreign Exchange (FX) trading right
for you? Over the past few years, foreign exchange (Forex or FX) trading
has emerged as a competitor to the established worldwide stock and
commodity markets. If you’re not familiar with it, the Forex market is
the largest and most liquid market in the world. Forex trading offers
many advantages, some of which are: commission free 24 hour trading,
superior margin requirements, no limit-up or limit-down, tight bid-ask
spreads and no short-selling restrictions.
CIG offers investors 2 different
accounts, The Managed Account and the Self-Directed Account. The Managed
Account is one that we manage for you on a performance fee basis. The
other is one that you trade yourself.
Click here (http://www.christyinvestments.com/forex.htm)
to learn why top traders and analysts are moving into this exciting
trading arena.
**********
About 20% of e-mail is never received due
to spam filters.
If you have a spam checking program
installed on your computer, please be sure to add
rac@christyinvestments.com to your "safe list."
**********
R.A. Christy is a professional stock
trader, money manager and author. Mr. Christy is the President CEO of
Christy Investment Group, Ltd., a registered investment advisory firm.
He is also the Managing Partner and Portfolio Manager of Plato Advisors,
LLC. At the time of publication, Mr. Christy may from time to time write
about stocks in which he, Christy Investment Group Ltd or Plato Advisors
LLC 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.
The Stock Trading Advisor
c/o Christy Investment Group
P.O. Box 625
Alpharetta, GA 30009-0625
To unsubscribe or change subscriber
options, please contact us:
online:
http://www.christyinvestments.com
by email:
info@christyinvestments.com
by fax: 1-678-302-4348.
© Copyright 2007 RA Christy
|
