12/7 CHARTIST HOTLINE
Friday, December 07, 2018
Whenever the Dow rises or falls by more than one percent or we have new recommendations we automatically update this hotline.
The Dow lost 559 points -2.24%, S&P 500 -2.33% and Nasdaq -3.05%. It was a terrible week for the averages has the Dow shed 1,150 points -4.5%, S&P 500 -4.6% and Nasdaq -4.9%.
In today’s session declining stocks outpaced advancing issues on the NYSE by a 2.2 to 1 margin and 2.6 to 1 on the Nasdaq.
None of the stocks in the Trader’s Portfolio violated their mental stops.
We continue to recommend a 50% invested position.
With this week’s action our models have weakened considerably and could turn negative in short order. In that event, we will recommend taking more profits.
All my posts are just my opinions. I receive no compensation for
posts. These posts are for entertainment purposes only. I may be
long or short or hold no position.
