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Author Daily Newsletter "Distribution as a Stock Market Tool" (DAASMT) www.stockmarketdistribution.com Charles A. Gawlak has over 12 years of investment research experience and 12 years of small business management. Charles is the author of “Distribution as a Stock Market Tool™,”... More
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Distribution as a Stock Market Tool
  • Daily Distribution Report 0 comments
    Nov 11, 2009 11:34 PM | about stocks: HPQ, COMS, SPX, SPY, QQQQ, NYC
    The Markets gained $96 billion in market cap yesterday. The Market Distribution Chart for the SPX (70%) rose to Very OverBought (OB), the NYSE (56.6%) remains Little OB and the NASDAQ (38.6%) remains Mostly OverSold (OS). The SPX distribution chart remains "to the right" of the NYSE, a Positive signal (see page 4). The SPX option premiums are signaling Positive. Economic News out Thursday: MBA Purch Apps, Jobless Claims, RBC Cash Index and Treasury Budget. The signals for markets on Thursday are Positive.                                                                                                                                          
    Comments: I have been highlighting the NASDAQ lagging behind the SPX and NYSE in Price Distribution. This is a signal to expect an event to bring these distributions closer to each other over the next few days. I would expect to see the NASDAQ outperform. Last night, Hewlett Packard (HPQ) announced the acquisition of 3Com (COMS) and raised guidance on its earnings report. The merger could possibly heat up "take over fever" and HPQ raising guidance could help drive outperformance of Tech stocks in the NASDAQ.                                                                                                                                    
    Focus List: Transports and Semiconductors. Transports remain on from Tuesday. Drugs were on Wednesday, but were weaker than expected and are removed. Media has fallen off the list and is removed. Semiconductors is a Newcomer to the Most Actives list and could benefit from positive movement in the NASDAQ.

    www.stockmarketdistribution.com to see report with charts and tables.

    'Disclosure: No positions'
    Themes: OB, OS Stocks: HPQ, COMS, SPX, SPY, QQQQ, NYC
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