Thanks... I googled it before I asked and didn't find it right away.. That explains it... Its retail order flow put/call ratio basically... I have enough information to look up the rest..
Guys, the reason why we use a methodology like ACD to begin with is to avoid the interpretation of the news. Nobody here, myself included, has no idea how the market is going to react to news. The market went on a huge upside tear after the assassination of JFK. And it's not because the market didn't like him, it's because it didn't matter. Use the news as a sentiment lean against your levels. For example, I see my number lines getting stronger every day even though price is going lower and the news gets worse. So what do you think that means? Yes, this is a pop quiz.
look to go long. now, how to do that is another chapter One can simply play all buy TA signals, like TL break or level break or buy on support, etc.
And sure enough in good old August fashion the ISEE goes from an extreme high to an extreme low, printing a 74 on the composite, one of the lowest readings in the last 12 months. In other words, It's August and the volumes are low enough to swing this thing all over the place.
Exactly, too lazy. Random long entries also work just as well when the forces are bullish. Just be sure to close the position if it drops below your stop level---or if you are certain of the bullish forces or catalyst pending soon -- you could double down -- but only as far as you can take the heat if wrong! surf
I'm reiterating my buy on US Steel (X). I think we are going to tag 21 by end of QTR and 24 to 25 by year end.
so, if what you saying is correct then best buy is on dip. at least one has mean reversion on his side. but then if you stopped and do what ? buy again where ? I do think ta may be actually useful here as many will take notice & act and gives you some kind of feedback of whether your plan holds water.
Intriguing call Mav. I noticed that X has been sideways this month, but NYMEX steel is up $30/ton during the same period. Maybe that's showing up in X's number line?
X is in a severe downtrend in many long term timeframes, in more short term timeframes is in a severe range. Never understood the fascination for buying a downtrend without an uptrend to back your long play. X needs to do a lot of bullish stuff before I consider it a buy signal. Not because it cannot go up, but because there's safer, better plays out there.