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Time to get Long!? | The Market Field

Time to get Long!? | The Market Field

The below is the Bullish Percent Index for the NYSE

State: Bull Confirmed

  • Update:  My last market overview commentary on the NYSE was in April 2012.  At that time the BPI for the NYSE was Bear Alert and I advised being on the sidelines.  The NYSE peaked out at that time at 8300 around that time.  Since then the index sold off to 7300. 
  • We are now in a column of X’s and Bull Confirmed.  Because the market is Bull Confirmed, odds favour stronger markets and Offense should be on Field.
  • Strategy:  It is a good time to run plays on the long side, buy stocks.

The below is the Bullish Percent Index(BPI) for the Gold Miners

 

State: Bull Alert

  • Because the Gold Miners index is made up of fewer stocks, it is more volatile and the range could reach 0% or 100%. The Gold Miners BPI is Bear Confirmed, and as such could remain in this state for a period of time. Because the index is below 30% and at 10%, it is deep in the green zone, it can be considered oversold. 
  • Update: We are Bull Alert.  Breadth is improving from oversold conditions.  We are at a point where valuations are showing great promise.
  • Strategy:  Precious Metals Securities are oversold and are presenting us with good valuation.  Focus on well funded companies, strong producers or royalty companies.  Scale into positions (¼ to ½ positions)

 

To start investing today, please give me (Edgar Burton) a call: 416.479.8995 or 1.888.216.9779 or send me a note at edgar.burton@europac.ca

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