6 replies to this topic

[Rogerdodger]

This is from the VTO Report's 5 day RSI system.
It has a good track record especially when compared to "buy and hold" as noted on the chart.
It is very oversold but look how oversold it got in May.
In some ways this looks like May's trendline break.
Note my warning to myself about trendlines and support on the chart.
One difference is that there should be some horizontal support here whereas in May there was none nearby below 40.
Is 40 in the cards again?

Notice that this is the first buy signal in 5 months! (This system seems to work best in weak markets, not strong uptrends)

http://stockcharts.c...2071&r=7959.png

Edited by Rogerdodger, 22 December 2006 - 10:38 PM.

[Jnavin]

It's an A-B-C down from the mid-November high where A = C (more or less). Typical C wave psychology now being expressed. The RSI reading verifies it.

[dcengr]

It's an A-B-C down from the mid-November high where A = C (more or less).
Typical C wave psychology now being expressed.
The RSI reading verifies it.

Whats a "typical c wave psychology"? Can you go into some detail?

[Chilidawgz]

[vitaminm]

QQQQ/buy-sell

http://www.americanb...p...=NASD&TYP=S

[Jnavin]

"Wave C: A strong decreasing wave in the background of general persuasion that a new, descreasing trend has started. In the meantime, some investors start buying cautiously..."

[greenie]

"Wave C:

A strong decreasing wave in the background of general persuasion that a new, descreasing trend has started. In the meantime, some investors start buying cautiously..."

What's your stop on QLDs? You seem to be holding some at 1.5% loss, right? - Just trying to get a sense of how to trade the possible rally if markets decline a bit further.

Also, are you expecting new highs on Qs, if this is ABC correction?

Thanks, G.

Edited by greenie, 23 December 2006 - 01:06 AM.