the market does not look good.

[jeff]

maybe we should sell everything and stay 100% in cash?

[bryanmcn]

Hi Jeff
I agree the markets look a little "frothy". The TSX failed at an attempt to solidly break though the 11,000 level last week. It is pulling back from there. You may be right in getting out but I'll wait for the next base to form and see if it has enough steam to go for a higher high. We still have some time before October (traditionally a down month).
Bryan

[Super Stock Picker]

Hello Jeff and Bryan,

Our Market Timing Indicator has just turned down as well. So, we do recommend the 100% cash strategy :-)

[garilou]

Ouf! It was highly time that the MTI turned down!
I won't talk again about the alternatives to the 100% cash strategy, we have discussed that unfortunately not so long ago...

I feel really sorry for you, SSP, and hope that your portfolios will soon be on the rise again!

Good luck everyone.

Louise

[bryanmcn]

Markets closed today at 11155. Fridays tend to be up days. If it moves further up it could be signalling an uptrend. I'm in and making money for now. Sold AQI with a 40% gain!
Bryan

[jeff]

Markets closed today at 11155. Fridays tend to be up days. If it moves further up it could be signalling an uptrend. I'm in and making money for now. Sold AQI with a 40% gain!
Bryan

WOW! congrates!

next time when you find a nice one, could you please let us know! thanks.

Jeff

[bryanmcn]

Hi Jeff
unfortunately I only know if it's a nice one after it's made it's gains.
Bryan

[bryanmcn]

Sept 13, 2009
Jeff
With the TSX solidly above a resistance level of 11,000 it looks like it could go higher. Although a small retracing of gains is likely in the short term, I have listed a few stocks below that in my opinion have pretty good looking charts;            
AEM   
YM   
XMA   
AQI   
NGX   
IMN
HW   
ELD   
ABX   
ATP.UN   
SPB   
OSK   
SEO   
FEL   
CAS   

Comments? My time frame is only a few weeks at best. October is not a good time to be in the markets.
Bryan

[jeff]

thanks, Bryan.

i bought a basket of stocks recently.  3 of them are in your list: NGX, IMN, FEL, I missed HW and OSK.

all your picks look very promising. gold stocks are very strong and may still have lots of room to grow  if gold could stay above 1000.

i will add one more gold stock: OGC. It  may come up again.

again, thanks for sharing.

Jeff

[garilou]

Hi Bryan, and Jeff
I guess the name of the topic should change, because the market (should I say the TSX?) looks better since Jeff started it.
But I also think there might be a retracing, or a shift toward other sectors. The problem with the TSX, it is so heavy with mining and oil, some sectors are really neglected.So that, except on big crashes like last fall, some stocks do pretty good while the TSX goes down.

Bryan, I also tend to agree on much of your choices. Some seem somewhat oversold, but many have reached new highs and don't seem to have much resistance overhead.

I would also watch RIM (although I was short on it not too long ago) it has just crossed a very hard resistance, (has it? not quite sure) and been traded a lot, been upgraded many times in the past weeks.
Next results on September 24. So it might either jump or fall abruptly on that day, if it goes up till that date, it's because some people know in advance. Most negative: only insiders sales since a year or so.

I also watch Suncor (SU), also one I've been short on in August,that has just started a remarkable performance since a few days, as soon as the merge with Petro Canada became reality, going up strongly on falling oil price. Don't know if it is going to last though.

And I wonder what happened to ABT (Absolute software), that it jumped so abruptly between 2:30 and 3:00 PM Friday 11th.on big volumes The last news what 2 days old (but an interesting one). UBS bought a lot between 3:00 and 4:00 PM.
I'll watch it on Monday. because till then, the chart wasn't pretty at all.
But this a new and strong trend reversal!

And if you like some good dividends on top of it, DAY.UN seems also to have reversed its trend , and broken a hard resistance Thursday with a big gap up..
I bought some Friday, and will increase my position if the new trend confirms.
Have fun,

Louise

PS. Be nice and vote to my poll: "Some French in the English forums":
http://www.superstockpicker.com/forum/index.php?topic=1652 
Only 4 voter till now.It's completely anonymous, I only can guess: me, probably SSP, probably DCA because he wrote a reply.
Read my introduction first to understand the context
http://www.superstockpicker.com/forum/index.php?topic=1652.msg3160#msg3160.
Anyway: SSP has closed to topic (in a French forum), but still I am curious what the community thinks, considering the introduction for sure.   

[bryanmcn]

Louis
Tecnically speaking all of the stocks you mentioned are in a side ways consolidating pattern. If you sqint your eyes you can sort of see a slight upward trend in some of them.
Did anyone get a piece of SGF? I got out today at $1.25 for a 70% gain!

Right now (could change tomorrow) I'm holding;

MX
IMN
CAS
DWI
CR
CAE
WPY
SW

Bryan

[jeff]

great picks!
thanks for sharing!

Jeff

Louis
Tecnically speaking all of the stocks you mentioned are in a side ways consolidating pattern. If you sqint your eyes you can sort of see a slight upward trend in some of them.
Did anyone get a piece of SGF? I got out today at $1.25 for a 70% gain!

Right now (could change tomorrow) I'm holding;

MX
IMN
CAS
DWI
CR
CAE
WPY
SW

Bryan

[jeff]

what do you guys think of the market? I am confused. It looks like the market is at a cross road. it may go up, it may go down. It may be good buying opportunity to buy the dips or it may be the beginning of a deep correction.

Last time, when I was concerned about the market, it turned out to be a good buying opportunity. Will it repeat again this time? 

[bryanmcn]

Jeff
The TSX recently made a "lower low" which is a bearish indicator. It is recovering off of that low and I am playing that run. If it fails to make a "higher high" above 11,600 then I'll be going to cash or shorting using reverse ETF's.

The DOW made a higher low and seems to be continuing its bull run. Does anyone know of a canadian ETF that duplicates the DOW?
Bryan

[markcle]

On BNN David Bensimon said recently(see their site to watch interview) TSX would reach 12,000 mid-nov. then drop to 10,000, then take off to 26,000 in 2 years. This guy has a great track record so lets hope he's right-looks like TSX might hit 12,000 on schedule