The market has weakened, and today we have two sell alerts—one from Stock Traders Almanac and one from the Cabot Market Letter.
Sell Alert: First Trust DJ Internet Index Fund (FDN)
FDN was recommended by Stock Traders Almanac at $42.47 in Investment Digest issue 739, dated March 20, 2013.
“During late-May weakness, both the faster and slower moving MACD indicators applied to NASDAQ turned negative and have remained so through today’s close. At this time we are issuing our official MACD Seasonal Sell signal for NASDAQ.
“When we issued our official Seasonal MACD Sell signal for DJIA and S&P 500 at the start of April, tight trailing stop losses were implemented across the entire ETF Portfolio. As a result, all but one position related to NASDAQ’s ‘Best Eight Months’ have already been closed out of the portfolio. Sell First Trust DJ Internet Index Fund (FDN, NYSE Arca).”
Jeffrey A. Hirsch, Stock Trader’s Almanac, www.stocktradersalmanac.com, 800-762-2974, 6/4/13