U.S Market Commentary Friday Feb 7/2014 Dan Zanger Master Trader

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Daniel J. Zanger is a technical stock anaylist  and  equities trader. Having turned $10,775 into $18 million between June 1998 and December 1999,he is the world record holder for the largest percent change for a personal portfolio  for a 12-month period of time and an 18-month period of time in the history of the stock market. This success brought him coverage from Fortune,Forbes , and Stocks & Commodities Magazines

The market was deeply oversold by Wednesday of last week and most of the leading indexes were finding support at their 150-day moving average lines when stocks bounced up well on Thursday. Yet the real action was delayed until Friday when the jobs number was announced and stocks soared.It now appears that the correction has run its course though some backing and filling could be in the cards from here.Let’s see three of the leading averages.

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My short term trading oscillator is coming off deeply oversold readings and next stop at the least should be the zero line with a possibility that we head back up to overbought readings from there.

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Tuesday February 4, 2014 U.S Market Commentary Dan Zanger World Record Holder Trader

dan zangerDaniel J. Zanger is a technical stock anaylist  and  equities trader. Having turned $10,775 into $18 million between June 1998 and December 1999,he is the world record holder for the largest percent change for a personal portfolio  for a 12-month period of time and an 18-month period of time in the history of the stock market. This success brought him coverage from Fortune,Forbes , and Stocks & Commodities Magazines

After yesterday’s massive 326 point plunge the market and stocks could barely lift back up in a very feeble snapback rally from deeply oversold levels. One feeble up day does make a reversal of yesterday’s plunge so there might be more selling in store for us in a week or two.

Let’s move on to a few of the leading averages that for now seem to be finding support at their 150-day moving average lines.SPX-02-05-14

DJIA-02-05-14RUT-02-05-14OSC-02-05-14My short term trading oscillator is moving up from deeply oversold levels. The norm for this tool after being down so low is to work its way back up to the neutral line which could take another few weeks.

 

U.S Market Commentary Dan Zanger World Record Holder Trader Monday Feb 1/2014

Dans bio is simply incredible!He turned $10,775 into $18 million between June 1998 and Dec 1999,A 29,000% Gain! he is the worldrecord holder for the largest percent change for a personal portfolio for a 12-month period of time and continued shortly after to make well over $42 million .

The market was up fractionally at the open and then came news of an ISM number that was less than expected. Although the ISM number was still in positive territory, the S&P-500 used it as an excuse to start selling and undercut support which was at 1770. Bids for stocks dried up quickly below 1770 and stocks started a slide that led to a massive 326 point loss in the DJIA.

Again when support is broken on the benchmark S&P-500, stocks need to be sold or positions reduced. It’s either going to be you selling or plenty of others, so you might as well lock in the higher prices while you can. No telling how far this selloff continues or when it stops, but corrections can last a few weeks to a few months. Even though we are oversold short-term and could bounce from here, we are not oversold on longer term oscillators and indicators that I watch. This could take another month or more before a solid bottom is in place.

Let’s start off with the leading averages that have that waterfall look.

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My short term trading oscillator plunged today as I noted it could last night. It moved down to areas not often seen and closed the day at minus 78. This trading tool could actually move still lower since we have in fact seen minus 118 twice in the past 6 years. However once this plunge is over the oscillator should start to work back up to the neutral line.By the way this trading tool also says the market is far too oversold to consider shorting right now.Image

U.S Market Commentary Dan Zanger Thursday Jan 30/2014

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A violent snapback from oversold areas yesterday brought numerous stocks up anywhere from $3 to $25 each, but this turned out to be nothing more than a head fake. The market gapped down again today and stocks once again headed lower with many making new lows for the year.
 
The Fed said little to ease the fears of the market today and selling picked up steam after they made their announcement, but as is often the case, tomorrow the market will tend to move opposite the reaction it had today if history is any indication.
 
This implies it should be an up day tomorrow but we will have to wait and see. Let’s start off with the leading averages that are hemorrhaging from this waterfall effect.