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ZignalsApps integrates the most advanced capabilities of Zignals trading tools with Seeking Alpha's depth of content to offer convenience and research horse power, all on a single page. ZignalsApps delivers in two forms: [1] Powerful investing applications suited to your individual needs [2] A... More
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  • PatternDNA Long & Short Update from April 27th 0 comments
    May 25, 2011 10:36 AM | about stocks: CIM, ABT, EXPE, MRK, FE, NEM, PGR, FSLR, MA
    Nine stocks were given the PatternDNA treatment before my vacation. These were:  Chimera Investment (CIM), Abbott Labortatories (ABT), Expedia (EXPE), Merck & Co. (MRK), First Energy (FE), Newmont Mining (NEM), Progressive (PGR), First Solar (FSLR), and Mastercard (MA).

    Other than for Progressive (PGR), which offered a 77% and 70% probability for a higher close on the second and fifth day from the Pattern, there was no strong suggestion for a significant move in either direction from remaining stocks over the immediate 5-day outlook. At best, PatternDNA suggested an average probability of 56% for a higher close on the fifth day from the open price the day after the Pattern completed from the nine stocks.  

    The eventual outcome was positive. Biggest gainer was First Energy (FE) at 6.6%. It was followed by Progressive (PGR) at 4.0% which fit well with PatternDNA's outlook. There were losses for Newmont Mining (NEM) and First Solar (FSLR) which lost -3.1% and -2.3% respectively, but remaining stocks added a couple of percentage points on the week.

    The positive outlook offered by PatternDNA for Progessive (PGR) on both short and longer time frames held up well to scrutiny. Of the three projections above 60% PatternDNA scored two out of three and was two for two where the projection was above 70%.
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