Happy Spring from PA! I witnessed money beginning to exit the market yesterday. Sellers are in play. I did leave some money on the table with respects to profits, but risk management is key. I am short 10% of my portfolio and the rest in cash. I am very eager to find out if my exit was timed correctly this time again. I will have a week-end post! Cheers!
Bought some short ETF <b>DRV</b> this morning on <b>19.Mar.2010</b> @ <b>$8.72</b>. The reason being the bullish version of the same ETF <b>DRN</b> had the largest move in the last 20 days - <b>45%+</b>. Ideally I would have liked to short <b>DRN</b>, but I don't feel comfortable doing so yet.
<b>Market View - 20.Mar.2010</b> <b>NYSE Percent of stocks above the 50 Day MA: 78%</b> New Approach My market breadth system had already given me the signal that the Market was over bought. Thus I ranked the 3x ETFs in terms of their one month performance. The numbers you see below are as of this morning (20.Mar.2010): Symbol One_Month_Performance DRN 44.48 FAS 32.67 TNA 27.83 EDC 27.26 MWJ 26.58 They were higher on Thu after close. Thus I decided to go long the Bear ETF of <b>DRN</b> above which is <b>DRV</b>. So far it has panned out well. Will have to wait and watch. Have a Great Week-End!
Hi Investics, I found your tread very helpful specially the NYSE 50 day MA. Can you describe a bit more what your market breath system is and your normal setup for stop loss percentage. Thanks Trendy
I'm joining Are there more USEFUL indicators like the NYSE50dayMA? I could not find yet the page where their list of special market breadth indicators is. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ "Jagadish's" page a few posts ago gives an awesome overwiev of the Indian market. Is there anything like that for the US markets?
######################################## PS.: ""Are there more USEFUL indicators like the NYSE50dayMA?"" Add. question: who supplies the data - could it be loaded into -say- TradeStation or somilar ones?
<b>Goalgetter</b>, My main focus in trading is nothing new. It is something that is otherwise known as "Breadth Analysis". If you are interested in this approach you <b>HAVE GOT</b> to read this book. <a href="http://www.amazon.com/Complete-Guide-Market-Breadth-Indicators/dp/0071444432">The Complete Guide to Market Breadth Indicators by ~ Gregory Morris</a>
<b>Goalgetter</b>, I compute the indicators I need myself using daily closing and historic prices. Telechart has a ready made indicator which does the below. Read more about it here: http://www.drduru.com/money/090104_T2108vsSP500.htm
<b>Trendy</b>, I suggest you read this post for more details. Let me know if you need more info. Cheers!