March 19th, 2009
Last Friday, I wrote in “8 Hurdles to Cross” that
“there are no less than 8 hurdles that the market needs to cross on the way into the Home Stretch [a clear signal that the trend has turned from Bear to Bull]; the exact levels of these hurdles will change as time goes by but their existence won’t disappear. These are benchmarks and each measures progress towards completion of the task (of Base-building).”
After the market’s solid performance over the past two days, we can put two hash marks into our count; there are only six more hurdles to cross now. The next four all bunched together within the the next 8.3% move up to 860. Only the market dynamics (the relative momentum between buyers and sellers) will tell us whether these hurdles can be jumped or not. Until that happens, no one is safe.
How much risk are you willing to take on to make 8.3%? I know it’s potentially the quickest and easiest 8% if we learn by the end of the year that March 9 was the low for the year. And if it wasn’t, there will be other, less risky opportunities to get into the market and still make lots of money.
Which reminds me. I’ve mentioned here before the three business/financial/stock news and commentary aggregation sites I read religiously: Abnormal Returns, Kirk Report and The Big Picture. But I should have added to the mix my own, custom aggregator, Google.
I’m not sure how many are aware of Google Alerts, an email alert system where users can receive custom search results on any terms of their chosing. While Charles Kirk, Barry Ritholtz and the people at Abnormal Returns do a fantastic job of culling the original source documents they feel are the most relevant to the market’s current condition, I was a bit frustrated by the diffused nature of the content they select. I was interested in something more focused to supplement their offering.
That’s where Google Alerts comes in. I was most interested in new content, regardless of the source (blogs, articles, etc.) on such search terms as:
- bull market
- bear market
- technical analysis
- fundamental analysis
- moving averages
- trendlines, trend lines
- stock charts
- stock charting
- and, of course, “stockchartist”
Google allows you to define whether you want content only from news, blogs, web, video or comprehensive; whether you want a daily, weekly or “as it happens” alert and whether you want it to be distributed by email or by feed. I selected a weekly, comprehensive email alert.
And, each week, I receive one email for each of the above terms with links to dozens of new Internet content. Like most online searches, some of the search items are more pertinent than others but, in general, they are just what I need to stay abreast of “what’s happening”.
Do you have any suggestions for other terms that a stock chartist like me should add to my list of Google Alerts? If you sign up, we can stay current together.