doc - you can scale in for sure, however for me personally I
might wait for the downtrend line and Stochastics, right now the
downtrend line comes in about 84.5, so I only give up about 4 to be
sure. Depending on what the market does I might have to
adjust the other trendline. But yes support near 78 - 79 is an
objective place to buy some or scale in.
FYI, I did a scan and the Bullish
Percent for Real Estate based on the 81 components of IYR is
currently 72%, therefore it's getting up there! I have NOT made any
graphs so I have not history on it, however this is something to
note. I'll probably make a bullish percent graph BPReal this week
with a 9 EMA, which will help you guys who are interested in
SRS
Incidentally, back in early March when URE bottomed, the
Bullish Percent Real Estate was only 25%!! So it has come up quite
far.
Posted by ocracoke53 on 27th of Apr 2008 at 08:37 pm
Matt,
this sounds great, I've tried reducing the number of trades I
make, and your setups for energy, precious metals, and now the real
estate sector - will hopefully make the trades I do make much more
profitable.
Thank
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
SPX
Posted by drorlando on 25th of Apr 2008 at 03:58 pm
Matt:
I am going by 60 minute with negative divergnce SPX. Could be wrong, but I belive SRS is a deal at these prices.
doc - you can scale
Posted by matt on 25th of Apr 2008 at 04:11 pm
doc - you can scale in for sure, however for me personally I might wait for the downtrend line and Stochastics, right now the downtrend line comes in about 84.5, so I only give up about 4 to be sure. Depending on what the market does I might have to adjust the other trendline. But yes support near 78 - 79 is an objective place to buy some or scale in.
SRS chart
Bullish Percent Real Esteate
Posted by matt on 27th of Apr 2008 at 06:44 pm
FYI, I did a scan and the Bullish Percent for Real Estate based on the 81 components of IYR is currently 72%, therefore it's getting up there! I have NOT made any graphs so I have not history on it, however this is something to note. I'll probably make a bullish percent graph BPReal this week with a 9 EMA, which will help you guys who are interested in SRS
Incidentally, back in early March when URE bottomed, the Bullish Percent Real Estate was only 25%!! So it has come up quite far.
Matt, this sounds great, I've tried
Posted by ocracoke53 on 27th of Apr 2008 at 08:37 pm
Matt,
this sounds great, I've tried reducing the number of trades I make, and your setups for energy, precious metals, and now the real estate sector - will hopefully make the trades I do make much more profitable.
Thank