TVO Market Barometer 3/10/17

Search online for “Lunar Phases and the Stock Market” and you’ll find a surprisingly high number of folks (who have hordes of disciples) shooting for the moon when it comes to trading. The concept is simple: When it’s a new moon, people buy; Full moon, they sell. Disclaimer: I’m not a moon follower, but I like idea (metaphorically, that is), so I created a moon of my own. IO, our Issues Oscillator, works in a similar way except that there’s hardly anything astrological about what drives it. Right now at -52, it’s showing a moon that’s full enough to give even the most lunatic traders out there a run for their money. Since our GI (General Investment strategy) is contrarian by nature, rather than run from a full moon (or howl with the bears), last Thursday we shifted gears into 100% buy mode… just in time for Friday’s Nasdaq (driven by some Moonstruck institutional buyers) to rack up another volume accumulation day. -MD

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