Mike
04-19-2012, 10:02 AM
We are essentially at the same condition we were yesterday, Exposure Count +1 but knocking on the door of a B6 (lows above the 50-day) buy signal. The B6 requires not only the lows to be above the 50-day but also that the day close positive. Yesterday we closed negative. Leading stocks are acting perky and we have seen some breakouts and moving average bounces. As of this moment 30 minutes into the trading day the NASDAQ is positive and volume is running higher. If the positive trend continues we will see an the increased count and exposure limit raised to 55% invested. If either the S&P or NY Composite can manage a follow-through day IBD would place the market in a confirmed rally. The Market School model never went into a correction call but hunkered down with a +1 exposure because of the Power Trend situation we had.
I expanded my portfolio and currently hold LNKD, ISRG, GNC, FRAN, KORS
I expanded my portfolio and currently hold LNKD, ISRG, GNC, FRAN, KORS