Beyond potential short covering it will become increasingly difficult for bulls to maintain the momentum of the 1-year+ rally. The SPY has a P/E value of 42.7 which is well above the median value for the S&P of 15.7. Assuming a return to median then either [a] the SPY has to fall in value or [b] SPY component earnings have to rise to lower the P/E ratio. With real unemployment running in the double digits its hard to see where [b] will come from. So it will be necessary for the SPY to devalue to bring it back to 'fair' value - with a little help from improving earnings.
Our sample set of Trading Strategies available in the MarketPlace had a busy Monday after a non-event Friday.
BSE Zignals 1 mil Rupee
Long Confirmation Entry for HTECH (Mumbai) at INR362.7
Forex Elm
New Long Target and Stop for CADUSD (FX) at 0.9840 (EoD): Target 1.0830, Stop 0.8860
Forex High Winners
Long Entry for GBPUSD (FX) at 1.5090
Frankfurt High Winners
Long Entry for MLP (Frankfurt) at €6.92
Indian High Winners
Long Exit at Trailing Stop for KOTAK (Mumbai) at INR772.7
Indian High Winners
New Long Target and Stop for PFC (Mumbai) at INR267.8 (EoD): Target INR295.2, Stop INR255.0
Indian Strength
Long Confirmation Entry for ASOK (Mumbai) at INR50.90
Long Unacted Entry for MCDL (Mumbai) at INR1427.5 (EoD): Entry signal given, but exited position on same stock too recently (14) days ago.
Long Exit at Trailing Stop for ESRO (Mumbai) at INR137.5
Long Exit at Trailing Stop for HDIL (Mumbai) at INR299.0
MA Crossover
Long Exit at Trailing Stop for C (NYSE) at $3.84
Long Entry for IBM (NYSE) at $127.7
My First Subscribed Strategy
Long Confirmation Entry for KO (NYSE) at $53.84
Short Trender
Short Exit at Stop for WMT (NYSE) at $55.63
UK Golden Brown
Long Entry for CCT (London) at 87p
Long Exit at Trailing Stop for IMD (London) at 52p
UK High Winners
Long Entry for SSP (London) at 38p
Long Entry for CCT (London) at 87p
Long Exit at Trailing Stop for IMD (London) at 52p
US High Winners
Long Exit at Trailing Stop for C (NYSE) at $3.86
US Strength
Long Confirmation Entry for KO (NYSE) at $53.84
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Dr. Declan Fallon, Senior Market Technician for Zignals.com, offers a range of stock trading strategies for global markets under the user id: ‘Fallond’, ‘ETFTrader’ and ‘Z_Strategy’ available through the latest rich internet application for finance, the Zignals Dashboard or the Zignals Trading Strategy MarketPlace.
Zignals offers a full suite of financial services including price and fundamental stock alerts, stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager, active stock screener with fundamental trading strategy support and trading system builder. Forex, precious metal and energy commodities too. Build your own trading system and sell your trading strategy in our MarketPlace to earn real cash. Read what others are saying about Zignals on Investimonials.com.
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