
Also, for the first time in many weeks the upcoming pivots are very similar to last weeks, clearly a change in the otherwise virulent downtrend momentum. This leveling off may be an indicator of a bottoming process in progress, although if you viewed the Roubini video posted on Monday, you know his argument for the bottoming process to continue for some time.
Side note: I made a quick scalp in GE today, deciding to take my own advice from yesterday.
In at 19.34, out at 19.97 for a quick 30 minute trade. I should have stuck around longer, but had projects outside the office to take care of, so I walked off early.
But the thing really interesting about GE was in the Nov options, which I mentioned yesterday. Those same Nov 20 calls that closed at 1.83 yesterday closed at 1.30 today, down some .53 while GE was only down .19. Talk about premium decay. . .and the VIX was actually up 2.72 to 70 today (coming off an intraday high of 74.5). Go figure.
3 comments:
Hi Bzb,
just wanted to share woodsheeder @ ibankcoin.com had some interesting strategy with double ETF. His entry is secret but he is posting regulary , exit is RSI2 based.
wanted to know if you use system development to develop anything other than qqqq/IWM. DO you trade rsi2 or any other system on individual stock market.
thanks
Bill,
Since woodshedder chooses to keep his entries a secret I have no way to comment on his trades. I trade the Qs and IWM 80% of the time. Occasionally I do venture into otther ETFs, which is why I post a 4 ETF basket and I do trade single stocks sometimes, as per my GE posts for the past 2 days. I prefer the muted volatility of the ETFs as a rule, but when I see special situations, I'll often take a small position.
Bill,
Since woodshedder chooses to keep his entries a secret I have no way to comment on his trades. I trade the Qs and IWM 80% of the time. Occasionally I do venture into otther ETFs, which is why I post a 4 ETF basket and I do trade single stocks sometimes, as per my GE posts for the past 2 days. I prefer the muted volatility of the ETFs as a rule, but when I see special situations, I'll often take a small position.
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