Tze 12:16 AM
The stock model is updated to reflect today’s market move. You can download the entire model Excel output file here: StockModelFile_20110824 Remember we do welcome individual stock and ETF commentary requests. All you have to do is submit your request or questions in the comments section of this post and we will promptly reply.
This morning we focus a long position in BAC (Bank of America) and a short position in MU (Micron Technology, Inc.) Charts are provided by contributor Roller Coaster.
According to our ranking model, BAC’s valuation is extremely cheap at the moment. We can tell from our book, PE and PEG related composite value factors. However, it can get cheaper! It made a new low on high volume, but it didn’t fall too much. Potentially, we can see a relief rally here.
Micron Technology ranks poorly within the FocalEquity Stock Ranking model because its valuation related metrics are particularly unattractive relative to its industry peers. This stock has been declining without any significant retracements. It’s possible this stock will continue to fall until it finds support.
ETF Model Update:
You can download the entire ETF model Excel output file here: LeveredETFModelOutFile_20110824
Today we like to highlight DRN (Direxion Real Estate Bull 3X). With the huge rally yesterday, many of the bear ETFs generated sell signals in the model. You should carefully look at each trading signal and ask us questions on our blog if you are uncertain.
DRN had a strong close on high volume August 9, 2011. It’s pulled back recently on light volume. There can be another push higher from here.
ETF Model Image Capture (for trading day 2011-08-24)
BAC up almost 3% today. Banks are recovering overall.
Now BAC is up almost 9%. A lot of it might due to short covering.
MU (Micron) down over 1%
MU down over 4%. Consider putting a stop at $5.55 is you shorted it this morning.
REIT is overall flat as indicated by DRN
Guys,
Submit your stock and/or ETF questions or requests or share your charts or comments relating to the market. Thanks.
DRN is up almost 4%, gold and silver continue to correct.
The market had a nice run up this morning.
yea but the rally faded. Are you having trouble posting comments or with the site?
No. But I wonder why Slope of Hope didn’t post the article yet. There was lots of great calls from the model this morning.
You need to actively seek people to come over.
Gold has had a really nice correction, but it could also be the beginning of a nasty downtrend. Whatever the case is, its road to $2000 per ounce won’t be an easy one.
The good news is that we had the second highest number of unique visitors yesterday since the transition of FocalEquity on 04/20.
That is good news about the viewers. Also, good observation about Gold.