This is perhaps the clearest sign I have that things are going
to appear to get better. However, tonight I
remain short NQ futures. With RIMM blowing up, the
Pollyanna panacea of Euro salvation may not be enough to overcome
gravity. But Dabama's printing presses may pick up the slack.
Posted by frtaylor on 16th of Sep 2011 at 07:04 am
so, how would you play that since it's a chart of SPX:GLD?
A pair trade long SPX and short GLD? As you point out
in the text w/ your chart, just going long SPX may not work since
upward movement in the chart can be the result of a drop in GLD
w/out a change in SPX.
This is perhaps the clearest
Posted by steveo on 16th of Sep 2011 at 06:12 am
This is perhaps the clearest sign I have that things are going to appear to get better. However, tonight I remain short NQ futures. With RIMM blowing up, the Pollyanna panacea of Euro salvation may not be enough to overcome gravity. But Dabama's printing presses may pick up the slack.
The inverse head and shoulders means that this indicator should continue to go up, this is a fine basing pattern, the best.
http://oahutrading.blogspot.com/2011/09/spx-in-real-money-gold.html
so, how would you play
Posted by frtaylor on 16th of Sep 2011 at 07:04 am
so, how would you play that since it's a chart of SPX:GLD? A pair trade long SPX and short GLD? As you point out in the text w/ your chart, just going long SPX may not work since upward movement in the chart can be the result of a drop in GLD w/out a change in SPX.
Indeed, a pair trade as
Posted by steveo on 16th of Sep 2011 at 03:47 pm
Indeed, a pair trade as you state.