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Jim Van Meerten
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Jim Van Meerten is an advisor to Marketocracy Capital Management and writes on financial subjects here and on Barchart Portfolio Blogs and Seeking Alpha. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and... More
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  • CODE YELLOW - Slow down, proceed with caution 0 comments
    Oct 1, 2009 5:43 PM
    Just a quick note of caution. I normally only write a market momentum blog once a week but the last 2 days of market action should be looked at. Hear is why I'm cautious:
    1. The Value Line Index, an index of 1700 stocks is presently trending below its 20 day moving average.
    2. According to the BarChart market momentum page today 59.52% of all the stocks 6000+ they follow closed below their 20 day moving average.
    3. The 20 day new high/low ratio was 414/830 - the first time in a while that there were not more new highs than new lows.

    Am I panicking? No! My stop losses are always set at the 50 day moving averages. That point hasn't been hit yet. I just won't replace positions if my stop losses trigger till I see a trend.

    What's my advice? You have to make up your own mind. Is this a trend and just the start of the doomsayers inevitable retrenchment or is this just a blip and a good buying opportunity to pick up some positions on a dip? Let's hear your comments below or email to Financialtides@gmail.com.

    Jim Van Meerten is an investor who give his financial opinions on Financial Tides, MSN Top Stock Blogs and Seeking Alpha.

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