at dangerously low levels, indicating "call buying".
Exit long. Go short. Risk 1 pt.
10:18AM DIA 108.45 now.
Wednesday, September 24, 2008
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Developed by Timothy R West, a twenty year veteran market technician, this blog is dedicated to the US stock market indexes for intraday timing for defined risk entries and exits. The systematic approach will typically find 1 to 3 trades per day that can be expected to yield 2% to 10% returns per month.
4 comments:
Odd, but put/call ratio went from near 1.00 indicating decent put volume, down to .37, showing heavy call volume. WIth VIX UP today, that means "call buying" = bearish... so lots of flip-flops this morning....
10:35AM - Ideal place to add to the position here. Double position, but keep the same stop. 108.48 DIA bid now.
10:35AM crude oil inventory #'s due
I haven't seen the oil inv # but crude went up sharply and back down in the last 5 minutes. 108-109.5 based on Nov contract. 108.3 last
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