Patterns treated us to another good week… Last Sunday evening the patterns suggested to Long Stocks (see this post) and to Harvest/Short Bonds (see this post).
The herd was extremely bearish equities, reflected in the AAII (American Association of Individual Investors) data… with only 20% bulls, the lowest number of bulls since the March 2009 lows. Support was at hand along with a series of downside wicks, plus a bullish falling wedge.
The Results of following the Power of the Pattern…. More “Pocket Change!”
The 500 index gained over 3.7%, Chile remained hot with a gain of over 4.2% (gaining over 13% since the purchase on 8/16) and TLT (20-year bond ETF) lost over 1%.
The biggest gainer of the week was our position in XHB (home builder ETF), which made over 5.5% and is up over 8.5% in 6 business days, since suggesting to buy it in this post.
Thanks to all for your viewership, quality email/input and kind words per how the trades are working out.
For more pattern updates and opportunities….stay tuned.
Chris
P.S. For those celebrating….Happy Labor Day
Sorry for my bad english. Thank you so much for your good post. Your post helped me in my college assignment, If you can provide me more details please email me.
Thanks Jason.
Will be interesting how soon we stick some of the other gains in our pockets. Currencies will determine so much.
Chris
Thanks, Chris! Keep up the great work!