Market performance this week showed that bear is still in charge of wall street. It started out Tuesday as the DJIA failed to hold the nearly 200 point gain and end up lost about 30 points. Market tumbled more than 300 points Thursday after bad economy news was announced. We talked about NASDAQ index formed a double bottom, and its STO[15,1] has climbed above 50 in the previous blog. At the close of this week, its STO[15,1] fell back below 50 and the double bottom formation has been broken. The way the index failed to break out from down trend, inidcating that the bearish sentiment is overwhelming.
Here is an update for our FEMKX timing model. We sold FEMKX on 6/13 and are still in cash position for this model. FEMKX closed this week at 22.75, a 26% drop since our sell signal.
FEMX Trading Log
Fund Buy On Buy@ Sell On Sell@ P/L
FEMKX 03/26/07 $25.15 08/06/07 $29.53 17.42%
FEMKX 09/10/07 $28.98 12/28/07 $33.82 16.71%
FEMKX 04/28/08 $31.73 6/13/08 $30.81 -2.90%
CASH 06/13/08 $1.00
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