EOM Q&A: Garden Growing–MINT Q&A XIII 10.26.17
Yesterday, the $NASDAQ bounced off the 30 EMA-will the selling continue?
Many times the charts are reduced in size for this email format. In most posts, there is a link to transfer my chart to your stockcharts.com account.
With the DOW and other indexes continuing to run, many EOM Members are looking at BOND-MINT-TOTL as a safer-haven for cash.
Why? Check out their action during previous SPX pullbacks-blue ovals.
Today, I focus on MINT and what to watch before entering.
1. Is currently trading with a XX correlation to the SPX
2. Previous end-of-the-year dividend action is highlighted-no year end spikes like with BOND
3. Previous pullbacks are highlighted with the highest pullback .40%
4. Previous buy signals are highlighted-vertical blue boxes
5. Check out the overbought status of the RSI and Slow Stochastics-a rare site indeed
1. Note the MACD, CMF, and Slow Stochastic previous levels when buying came in
2. The monthly dividend is trending higher-will it continue?
3. I will be watching to see if selling/profit taking comes in
4. The current rally, starting in January of 2016 is 3.7%
MINT is not like other securities. If we are watching it for a steady, monthly dividend-paying safer-haven, Institutional funds are too!
While many want to catch a price bottom, picking an exact entry point can be difficult.
So what does this mean? MINT is bought as a safer haven, where Institutions/Investors place funds when locking in profits from selling securities.
When this is the case, you may not receive a buyable pullback for some time, as in the case with MINT. Look at the strength in the last two years.
Tomorrow, I feature TOTL.
Questions-send them to me at Eyeonthemarket@outlook.com
Enjoy your day!
David O. England