The Morrisian Indicator

This is my second attempt to post this weekend.  My first attempt was somehow deleted after I fell asleep.  I just want to say that I spent much of Saturday charting the stocks that I am using with my indicator.  So far no new buy or sell signal have come up.  My short position in FCX was affirmed as the signal line crossed below the center line again as I expected it would.  While CIE maintains itself below the center line it is tending to hover too close to this line rather than making new lows.  When I checked my paper trading account I noted an overall small profit of $81 as FCX is creating a greater profit than the loss for CIE.  If CIE  maintains a losing stance for the rest of this week I am inclined to get rid of it.  On the other hand I am looking to sell at least 3 shares of FCX for a $1.40 which gives me about a 1/3rd profit on those share.  If things work out as I think they might I can then sell 3 more shares of FCX for $1.75 and the last 3 for $2.10.  I would thus get rid of my entire position that I entered into for $945 by getting out of it for $1,575.00.  This is about a $600 profit.

The stock SDRL had heavier than usual volume as it maintained below the center line.  Should the signal line cross above the center line it may be a good idea to buy calls on SDRL since most of those shorting the stock probably got out.

 

EC Morris

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