$NYMO - Chart Link - the chart hasn't
updated yet, won't update for another hr, but anyway it was
overbought yesterday and Wednesday.
Also take a look at summer 2010, after the initial May sell off,
the market bounced up and down for 2 months before bottoming, the
first two times the NYMO got overbought were great shorts.
Next look at recent times last Aug, after the Aug selloff, the
first bounce caused the NYMO to get overbought and that was a sell
signal.
looks similar this time, we had a big sell off in May, and you
sell the first rally, NYMO got overbought
NYMO
Posted by matt on 21st of Jun 2012 at 04:25 pm
$NYMO - Chart Link - the chart hasn't updated yet, won't update for another hr, but anyway it was overbought yesterday and Wednesday.
Also take a look at summer 2010, after the initial May sell off, the market bounced up and down for 2 months before bottoming, the first two times the NYMO got overbought were great shorts.
Next look at recent times last Aug, after the Aug selloff, the first bounce caused the NYMO to get overbought and that was a sell signal.
looks similar this time, we had a big sell off in May, and you sell the first rally, NYMO got overbought
basically the point to take
Posted by matt on 21st of Jun 2012 at 04:27 pm
basically the point to take away from that NYMO chart is that after a very strong downtrend, also sell the first overbought Spike of the NYMO
Seems like one should sell
Posted by jroger on 21st of Jun 2012 at 05:54 pm
Seems like one should sell any overbought spike of the NYMO?