Well, over the Memorial Weekend I joined The PPT services to see what the heck it was all about. Not knowing where to start, I started a Forum to document my learning experience and keep handy all my notes as I attempt to learn this system that the Fly created. If you are a PPT member my Forum is simply call “Help, I am new in here”. For the first weekend I worked on how the Fly scores each stock and sector. Getting that under my belt, I have been trying to understand how to work the total score and its movement into my own method of analysis of the market. Truth be known, my method will show the potential of a move and the resistance/support levels…along with a longer term movement….but I always lacked the answers of why something would hold support or go right thru it. Yes, the traditional T/A, Fundamentals, etc could justify it, but I wanted something that could give me a forward view, especially a forward view that made sense of the illogical, things like people falling all over themselves to buy garbage and running their PE’s to crazy levels.
I know I am not using PPT “Hybrid Score” in a traditional method of when it hits overbought you sell and oversold you buy. I have never been good at following rules. Anyway, today the Market started with a reading of Oversold and the first hour there was an attempted rally that took place. The next intraday score of the total market dropped down to “Sell”. I began to wonder, what happens if this “sell” was an indication that the volume and movement of Fly’s special blend of FX, Oil, Gold, Silver,etc behind this attempted rally was not there and it would simply turn at one of the normal turning points of the day. I believed, if this is the case, it would continue a downtrend until we hit an oversold “panic” sell or finally see a Buy on the total Market? Maybe this is how everyone uses the intraday scores, or it could just be me, the Rebel without a Clue…..we will see tomorrow if the pattern continues? Yes, I know, many are expecting a rally due to an Oversold reading….I will watch for that too…but of course I am still holding , as the Zombie would call it, my Armageddon Portfolio of SMN, DRR, VXX, FXP, AUY with only a small biotech play as a hedge…the reason for that, even if we have dip buying, I see this as one massive bubble created by a speculator market funded by Chinese. But, that’s some rant I could save for another blog someday.
So, if you are a PPT member and have any great insights in the use of the Hybrid Score I would love to hear about them. And on a personal note, this weekend, thank you. If you enjoy the content at iBankCoin, please follow us on Twitter
we are still at Sell. so I am looking for a continued nice slow downtrend to continue.
I love doing blogs, I think everyone should, cuz it allows you to go back and look at your notes and thoughts. Well, we did have that rally…and here is my understanding of what to do with the PPT Scores
OK HERE IS MY UNDERSTANDING of my analysis I am going to use with PPT
1.Three step process….Stock, Sector, Overall Market
2.I will look at as follows
Overbought…Greed took over, get out of mess
Strong Buy…Risk/Reward is getting so toppy, look around for Fibo Resistance to see what it will be hitting
buy…Risk/Reward is OK, not great but OK
Neutral…speaks for itself
Sell….Risk/Reward is in my favor
Strong Sell……Have to watchout for falling knives, look around for some really good Fibo Support it will be coming up to
Over/Sold….Is the company going into BK? Risk/Reward is REALLY REALLY good if ok company.
For everyone that doesn’t use Fibo, whatever T/A levels, sniff test, spider senses,etc. will act the same.