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From The Trading Turret
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From: R.A. Christy
Editor, ‘From the Trading Turret’
President/CEO, Christy Investment Group
http://www.christyinvestments.com
Date: August 26, 2007
Current Field Position:
OFFENSE
Bullish Percent NYSE: Xs @ 40%
Bullish Percent OTC: Os @ 34%
Bullish Percent Option: Xs @ 40%
Today’s diatribe …
The old Wall Street axiom tells us that
the market is always right.
Why then, does it keep changing its mind?
The market’s shenanigans over the past
month finally caught up with me. I can’t remember when I last reached
the point of complete frustration and total exhaustion.
Thankfully, it was time to haul one of
the kids away to college. Debby’s oldest, Kyle, is now happily ensconced
as a freshman at Elon University in North Carolina. We drove up on
Thursday and got him moved in and settled Friday morning. I’ll be
elaborating more on this in a few weeks, but suffice it say that a lot
has changed since my college days 30 years ago.
The 6 hour trip up on Thursday and our
return on Saturday, gave Debby and I a chance to talk about what was
happening in the market. I was able to vent for a considerable period of
time and it felt good to get a lot off my chest. Our talks help me keep
everything in perspective because Debby is a great filter. In the 10
years that we’ve been together, she’s become pretty adept at sifting out
what’s important and what isn’t. This time was no different.
We also managed to swing by and see my
parents who live in Charlotte. They have an interesting take on the
market and this time was no exception. Maybe one day, they’ll come to
understand what their baby boy actually does for a living.
My head is clear and I’m pretty well
rested and it feels really good to be back on the desk.
We start this week having seen the market
start to rebound and settle down. On the whole, it’s still pretty washed
out and extremely oversold. I don’t think we’ve seen the last of the
volatility or hedge fund surprises. I’m also sure we haven’t seen the
bottom and who knows what surprises might arise after Congress returns
from their recess.
BACK ON OFFENSE
Our primary indicators, the
NYSE Bullish Percent and S&P 500 Bullish Percent have reversed up and
into a column of Xs. This reversal put the OFFENSE back onto the
field.
As a result, many sectors are stirring
and showing new signs of life. As of the market close on Friday, 13 out
of the 40 sectors that we follow have reversed to OFFENSE.
When the market opens Monday, I’ll be
looking to add positions in the 3 strongest sectors. Those are
Machinery, Chemicals and Non-Air Transports. These sectors stand out
because of their overall general trends and relative strength.
As for specifics, I’ll be buying:
Ingersoll-Rand (IR); Stop 44
Monsanto (MON);
Stop 61
DryShips, Inc. (DRYS);
Stop 60
Excel Maritime Carriers (EXM);
Stop 27
Stock Trading Advisor Subscribers can go
ahead and get their orders ready. As a reminder, be sure to mark your
stop order as ‘Good til Cancelled’ when you enter it.
Any sell orders will be emailed as they
occur – most likely candidates are TYC, TEL, COV and TIBX.
That’s about it for now. If you have any
questions or comments, just send me an email and I’ll be happy to lend a
hand.
RA Christy
The Stock Trading
Advisor
P.S. Please fee
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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
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© Copyright 2007 RA Christy
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