Bullish on the S&P 500 (3/6/07)

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YIELDSAFE

I believe the S&P 500 is due for a rebound rally to 1425 or more from its recent close of 1374.12 on 3/5/07. I believe this rally will occur within the next 8 weeks.

My system is indicating extremes in negative sentiment and oversold conditions which should unwind to fuel a rebound rally.

As of 3/6/07, I have entered a long position in SPY at 138.85.

Position: Long SPY

Entry: 138.85 (3/6/07)
Exit: Pending System Signal
Stop Loss: 124.96
Time Stop: 8 weeks
 
How come oversold levels work so well, but when a market is overbought like it was for the past 9 months it tends to be ignored.
 
IF SPY BREAKS 135, next support is at 131. If 131 is broken than I would be running very far away from these markets.
 
Quote from YIELDSAFE:

I believe the S&P 500 is due for a rebound rally to 1425 or more from its recent close of 1374.12 on 3/5/07. I believe this rally will occur within the next 8 weeks.

Time Stop: 8 weeks
More...

more than 100 ES points stop loss?
 
Quote from YIELDSAFE:

I believe the S&P 500 is due for a rebound rally to 1425 or more from its recent close of 1374.12 on 3/5/07. I believe this rally will occur within the next 8 weeks.

My system is indicating extremes in negative sentiment and oversold conditions which should unwind to fuel a rebound rally.

As of 3/6/07, I have entered a long position in SPY at 138.85.

Position: Long SPY

Entry: 138.85 (3/6/07)
Exit: Pending System Signal
Stop Loss: 124.96
Time Stop: 8 weeks
More...
As I stated above on 3/6/07, the S&P 500 would rally to 1425 or more from its close of 1374.12 on 3/5/07 (within 8 weeks).

My forecast was correct. The S&P 500 closed at 1435.04 today on 3/21/07. www.yieldsafe.com

US stocks post biggest rally in 8 months.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aq3wvP7nDGhU

Update on Position: Long SPY
Entry: 138.85 (3/6/07)
Current Price: 143.29 (3/21/07)
Total Return (including .55 dividend): 3.59%
 
Quote from YIELDSAFE:

As I stated above on 3/6/07, the S&P 500 would rally to 1425 or more from its close of 1374.12 on 3/5/07 (within 8 weeks).

My forecast was correct. The S&P 500 closed at 1435.04 today on 3/21/07. www.yieldsafe.com

US stocks post biggest rally in 8 months.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aq3wvP7nDGhU

Update on Position: Long SPY
Entry: 138.85 (3/6/07)
Current Price: 143.29 (3/21/07)
Total Return (including .55 dividend): 3.59%
More...

Good call!!!!
 
Quote from YIELDSAFE:

I believe the S&P 500 is due for a rebound rally to 1425 or more from its recent close of 1374.12 on 3/5/07. I believe this rally will occur within the next 8 weeks.

My system is indicating extremes in negative sentiment and oversold conditions which should unwind to fuel a rebound rally.

As of 3/6/07, I have entered a long position in SPY at 138.85.

Position: Long SPY

Entry: 138.85 (3/6/07)
Exit: Pending System Signal
Stop Loss: 124.96
Time Stop: 8 weeks
More...
As I stated above on 3/6/07, the S&P 500 would rally to 1425 or more from its close of 1374.12 on 3/5/07 (within 8 weeks).

My forecast on the S&P 500 was correct as the S&P 500 surpassed 1425, reaching a high of 1438.89 on 3/23/07.

www.yieldsafe.com

As of 3/30/07, I have exited SPY at 142.06 for a profit of 2.71%.

Entry: 138.85 3/6/07
Exit: 142.06 3/30/07
Return: 2.71% (including .55 dividend)
 
Quote from S2007S:

How come oversold levels work so well, but when a market is overbought like it was for the past 9 months it tends to be ignored.
More...

great question.

I think that you will find it depends on what stage of the economic cycle you are in.

the opposite of your statement could have been used in 2002 with a great deal of accuracy.

We are still in an overall bull trend with transitionary indicators...therefore, the tendency for the overall market is to go up due to the "groupthink" of its compnents.

also keep in mind that "overbought" really depends on your time period right?
 
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