We still do not have a confirmation to enter this market for the long term investment.

This has been a typical bear rally that has gotten everyone excited, but we still do not have a confirmation to enter this market for the long term investment.  I know many of you have been taking the double greens of of the short term signals against the long term market and have been making some handsome profits.  This is a place to be careful and lock some of those profits in, if you are long the markets.

The Nazdaq has  been leading the charge and many of the tech stocks have been responding quite well. The BSG Trend which represents all of the 8900 stocks in our system (many which are under $2.00) has turned double green but as you see the Dow and the S&P still have not turned double green.  The S&P is the long term  market indicator for the Wizard and that is what we will use for confirmation of the Buy signal.

You can see that we are still not confirming by checking how many long and shorts we have in the daily and weekly scans. The weekly shorts are still in control at this time, However, the daily longs are aggressively high.   You can also do a scan on the pre- buys against the pre-sells and get a feeling for the immediate market direction.

Maybe higher, but probably lower

The S&P could still climb to the 900 area,  but I am suspect of that because of the Dow and the S&P holding to the Long term sell signals.  As I said in an earlier blog,  I still think we are going to test the lows and probably go lower.  However, we trade what the market gives us not what we think.

How do I enter a stock that I missed?

I have answered this question many times recently. How do I enter a stock that I missed on the Short term Pre-Buy or Pre-sell and it is doing very well?  This is very simple to do.  Simply do a scan on the stock by searching the Weekly for pre-sell or pre-buys.  To do this you use the search for symbol tab.  You can put as many symbols in as you like if you separate the symbols with a comma.  You then take the entry from the weekly signal and in a bear rally you use the stop from the daily signal.  You always need to take profits fast  and keep the tighter stop in place in bear market rallies.

Basics of the Wizard WEBINARS

For many of you who are using the Wizard for the first time,  I would encourage you to view the pre-recorded webinars or attend the live webinars every Tuesday and Thursday.  This will give you the basics of the Wizard  that you can repeat as often as you like. There is no charge for the recordings or the Live Webinars.

We wish you all great trading.

Gene Stunkel

Creator of the Wizard

Take a look at he blog on the 18th of January and see what the signals were telling us to do. In case you have not seen the blog, here is an excerpt: (or go to the blog archive)

It pays to be patient

Over the past couple of months, we talked about how the market would eventually pick a direction, either up or down. This Friday, it looks like the market may have done just that. While we don’t know how long or far the market may drop, we must follow our rules. When the Wizard’s MarketTrends give us a direction, we must follow our strategies and take new trades – always in the direction of the trend, of course.

I believe the market will likely take out the lows it made back in November. But given the current environment, it’s possible that the market could fall as low as 5,000 or 6,000 on the Dow. Will this actually happen? Nobody knows, which is why it’s important to follow our MarketTrends signals -so that you’re positioned on the right side of the market, no matter what it does.

So what now?

Now is the time to do one of two things. We’ll explain both options in detail:

1. Look for short trades

2. Go to 100% cash.

Well the market can’t look much worse than it is at the present, but I think there is a lot more downside to come.  We should not be taking any long trades at this point unless you have double greens.  Then make sure the industry is with you in the long term or you should take a pass on the trade.

If you take any of the shorts that are double reds,  I would make sure they are over $10.00 stocks or I would take a pass on the shorts.  Shorting stocks over $20.00 would be much better.

We will find a bottom and when we do we will get a bounce.  It has not happened yet and we will wait until the signal says to buy.

I am waitiing for some Weekly Pre-Buy signals in the ETF Bond Funds and also waiting for another entry into Gold.  Other than the shorts in  which you have positions ,  stay in cash and be patient.

Advanced  Webinars

I am going to be announcing some Advance Webinars that I will be giving soon.  I will show you how I break down the signals and what the sectors and industries are,  that I am looking for during these times.  There will be a charge for these seminars and they will be limited to 50 subsribers. There will be one on stocks and one on futures and forex.

Basic Webinars

In the meantime we are presenting the basics of the Wzard every Tuesday and Thursday evenings. There is no charge for the Basic Webinars.  If you are new to the Wizard, the Basic Webinar is a good place to start.  The Wizard has a lot of information that can be very beneficial to your trading and we will show you how to locate it.  We will show you how to always stay in highly probable trades by following the trend.

If we can help you in any way please contact us through support that is  located on the home page.

Gene Stunkel

Creator of the Wizard