Monday, April 16, 2007 Weekly review

A quick review given it is late here in Hawaii and time is of the essence. Many of the Stockcharters had not updated over the weekend (Mitchell Meana and Matthew Frailey to name two) because the site was offline. Markets have seen plenty of change over the last couple of weeks so what did the Stockcharters have to say about it?

First up - it is interesting to see the most visited list is Richard Crockett's StockTiger with 22,632 monthly hits, well ahead of the normal number one ranked list: Dr. Joe, with 15,573. Richard has plenty of good ideas and his list is worth a look (he has less than 90 stocks on his list, so its manageable).

Dr. Joe leads with the breakout in the NYSE. Its a simple chart, but the move in the NYSE is good news for bull watchers.

But he is vague with his signal for the Dow (if Joe wants to claim "near 100% indicators" he need to be firmer with his calls - anyone can call it with hindsight on their side). Joe, is the "4-11 crossover top" significant?

However, I do like his call in Oil:

Mitchell Meana has stuck with his prior projections. The good news for bulls is his projection for a wave 4 (which means a wave 5 to follow), the bad news is the bottom for wave 4 is some distance below:

Although he has a wave 5 marked in place for the likes of the Wilshire 5000 and Russell.

Ted Burge opened with this:

April 15th! So TA really does work when we stick to the facts. The facts are that every major equity index is on a point and figure BUY signal except the SOX and it is at support at 472.

A new video for everyone explaining the 'BRAIN DEAD TRADES' on BIDU and RDY.

The charts have been there for 3-4 days, now you have a chance to understand why they were there.

The point-n-figure Qs chart shows it well:

Matthew Frailey has stuck with his A-B-C correction for the S&P. He has a downside target of around 1,330.

Richard Lehman hadn't updated because of the site downtime.

In summary, it appears many of the Stockcharters have stuck to their guns and are looking for downside (even in the face of the rally). Contrarian bulls will appreciate the bearish sentiment.