As per Matt's comments earlier, the current setup should be an
opportunity to take a low-risk short while the signal is still red.
Matt might comment on this in his newsletter tonight.
According to the logic of the indicator, the trend has turned
down. However, bounces up for up to three days do not change the
trend. One Friday we had one such bounce and there could e two more
days of that to come, based on the indicator.
I corrected the bug in the long term tools section. Also
guys, generally in bull markets the long signals are going to work
much better than the shorts as the indicator is far more responsive
for longs than shorts unless they are the high probability ones
like the Exhaustion shorts or the 60 Stochastic short off 80%.
Otherwise many times the market will be quite oversold when
it first turns red and best to look for a bounce before you short,
just like we saw on Friday how it rallied back.
I'll discuss in the newsletter that I"ll post shortly and I
really need to do a webinar on this indicator to discuss the
trades
here's a couple of those low risk short examples that I
discussed, particularly the 60 length Stochastic reversing just off
80% and the example where the indicator was in cash and indicated a
low risk short after an oversold bounce. Right now we don't
have one of those, doesn't mean it can't work out, just pointing
out that it's not one of the low risk ones and many times when it's
not one of the examples above the market is quite oversold very
short term and you get a bounce first just like we say on Friday,
so most of the time I don't chase it short I wait for a bounce,
unless we get one of those high probability ones like I show on the
examples and discuss in the newsletter which I will be posting very
shortly
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Title: this should be an
BPT MA Deluxe
Posted by junkie on 28th of Sep 2014 at 03:49 pm
As per Matt's comments earlier, the current setup should be an opportunity to take a low-risk short while the signal is still red. Matt might comment on this in his newsletter tonight.
According to the logic of the indicator, the trend has turned down. However, bounces up for up to three days do not change the trend. One Friday we had one such bounce and there could e two more days of that to come, based on the indicator.
I corrected the bug in
Posted by matt on 28th of Sep 2014 at 06:13 pm
I corrected the bug in the long term tools section. Also guys, generally in bull markets the long signals are going to work much better than the shorts as the indicator is far more responsive for longs than shorts unless they are the high probability ones like the Exhaustion shorts or the 60 Stochastic short off 80%. Otherwise many times the market will be quite oversold when it first turns red and best to look for a bounce before you short, just like we saw on Friday how it rallied back.
I'll discuss in the newsletter that I"ll post shortly and I really need to do a webinar on this indicator to discuss the trades
here's a couple of those
Posted by matt on 28th of Sep 2014 at 07:42 pm
here's a couple of those low risk short examples that I discussed, particularly the 60 length Stochastic reversing just off 80% and the example where the indicator was in cash and indicated a low risk short after an oversold bounce. Right now we don't have one of those, doesn't mean it can't work out, just pointing out that it's not one of the low risk ones and many times when it's not one of the examples above the market is quite oversold very short term and you get a bounce first just like we say on Friday, so most of the time I don't chase it short I wait for a bounce, unless we get one of those high probability ones like I show on the examples and discuss in the newsletter which I will be posting very shortly