Do you know of any free services for ETF position trading with a good record? Not the type of chart analysis that involves 100 trend lines and indicators plotted on a chart. I am looking for concise analysis that makes sense and it is easy to read and understand in 5 to 10 minutes.
Thanks for the info. Excellent site. It already earned a prominent place in my favorites. For SPY only check this free analyis. The guy has made some really good calls so far.
After his call this past Friday for an "an immediate reversal to the downside" I have placed Michael Harris on the top of my guru list. His method of analysis is something new and very interesting. I am tired of looking at stupid charts with lines and indicators plotted on them and trying to decipher where the price action is. His (Harris') analysis is purely based on mathematics.
I agree. After so many years trading I do not feel good anymore looking at charts. As a matter of fact, I rarely look at one for trading purposes, I do that only for fundamental reasons. I like the approach also. If I trade 10 tickers I want to just have a few numbers that tell me the probability of the trade. I once knew of a guy who made just short of 5 million USD in a few months trading futures and he never looked at a single chart, he never read a newspaper and he never watched TV. He just manipulated series of HLC prices (open not included as I was told). He placed the trades, entered his profit and stop as an OCO order and just watched his account grow like crazy. He is now renting boats he bought with the money he made in some Carib Island having fun with willing tourists from European countries. Well, this short-covering I think is not the beginning of a new bull leg. Next week will tell. I did not buy into it.
Your top "guru' just made a call on the same web pape for a 3% drop in SPY. Let's see if he is really a "guru". I'll be watching.