RSI(2) Strategy Triggering: DDM Buy On Openby Woodshedder on May 9th, 2008 at 2:07 pm |
This is just a quick intra-day note telling you that (DDM: 61.21 +0.11%) has an RSI(2) of ~6 today. This will trigger a buy-on-open for Monday of DDM, the ultralong Dow 30 ETF. I will take this signal Monday morning. Best case scenario, the Dow gaps down Monday morning and you pick up DDM even cheaper.
Keep watching (SSO: 60.66 +0.28%) and (QLD: 77.42 -1.19%) for an RSI(2) cross below 10.
Don’t forget to vote for Fly, which, incidentally is also a vote for me and the other loyal band of iBC tabbed bloggers.
Well Shed, I voted for Fly even tho he’s an a$$clown because I like your blog quite a bit. Also, Fly does seem to be able to bank some coin so I might start following him too.
May 10th, 2008 at 6:37 pmCheck out EXM.
Its a winner this week.
May 11th, 2008 at 3:08 pmexcessive rate cuts and increased liquidity is major signal to get into the market… Dow 15,000 here we come.
May 12th, 2008 at 11:41 amlol, I’m guessing you’re exaggerating? Don’t think its Sarcasm…
May 12th, 2008 at 11:45 amBought some July $78 calls
well that rsi(2) strategy seems have worked well today. Maybe we retest the 200DMA?
May 12th, 2008 at 3:54 pmKurt, yes, I’m enjoying the strategy very much.
It is only natural that the indexes attempt a retest of resistance, unless, of course, they would have rolled over today and broken the ~month long uptrend.
May 12th, 2008 at 3:56 pmNice trade Wood.
May 12th, 2008 at 5:45 pmThanks Dog. Maybe I’ll get lucky, and the Dow will rally again tommorow. DDM RSI(2) is at 65 now. A rally tomorrow will mean the trade will close Wednesday a.m.
May 12th, 2008 at 7:30 pmTwo days and 4 to 6 percent would be sweet!
May 12th, 2008 at 11:02 pm