HEADS UP
One of my trading signals just kicked in as the SPY has traded down to the 130 area. The 2 day RSI on the SPY is now under 10 and buying the stock at this level has proven profitable in the past. The IWM and the QQQQ have also attained the same oversold level and are also buyable.
HOWEVER, THIS IS A SHORT TERM TRADE and I SUGGEST SCALING IN.
posted by DAVID at
11:52 AM
4 Comments:
How long would you project the trade to last??
a few days- generally until the spy gets back to a 2 day RSI above 80
Thanks, David..enjoy your blog very much and will comment time to time. I follow Rev. Shark,too..
;)
Rod:
There is a quick 11 SP points- hope you did the trade- wish i did more-lol - 10:26 am wednesday
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