Bill the Cat sums up the NVO trade. Bad news came out (price fixing law suit) and knocked the chart below moving averages. (click to make larger)
More work needs to be done to repair the chart. I'm out with a nominal loss as I had a good entry. I'll let the chart figure out where it wants to go from here.
Housekeeping duties: One of my housekeeping duties was to take wholesale delete all of my Stockharts' list. Now, I've been a SC member for a long time. What I don't care for on their chart lists is that you have to load both the symbol and then name into your chart lists. Why on earth they just don't populate automatically, I'll never now.
I organized my charts in accordance with the S&P Dow Jones indices. Click here to download your very own copy. I downloaded from the website, but then I couldn't find it again--so I just uploaded my copy.
This document is a useful to see in a well organized fashion the hierarchy of sectors. I created a master chart list with all of the individual subsectors. I can see in an instant which sector is moving, and then go to the individual sector and see the charts that serve as the constituency for the sector. Yes, I LOADED all of the charts for each subsector in individual chart lists. Yes, it was time consuming, but Excel helped. I have a master spreadsheet that has the Dow Jones index symbol and all of the charts-it has almost 5400 rows on it.
It's "bookish" work, but someone has to do it. It was an investment in time, because it saves me time. And while SC has charts by each sector, you can only look at them individually instead of in a more global fashion (e. g. chartbook, thumbnails, summary). That's just poor design on their part, but I made it work for me. In my next post, I'll share my chart setup.
