Earlier today, inside 12631, we noted that The PPT hybrid score rose to one of the highest levels to date. It did so in such a short period of time that it indicated the bounce was to be sold.
One thing I’ve noticed using the hybrid score over the past few years, is that it is quick to flag bear market rallies. When we are in true buy the dip market, the score never fluctuates so quickly, it takes time for the cycle to play out.
Well two days from being oversold, and we get an extreme overbought score which lead me to find my favorite bear ETF intraday. I knew at some point I wanted to jump back in $ERY, so I used the hybrid score as my timing model.
We loaded $ERY in the 18.70s early on in the chat room based on the extreme reading, and the score gave us confidence to hold through the trading day.
I won’t give away the closing score in fairness to the paying members, but here is how the hybrid score played out up until this point:
Our PPT algorithm is working just fine, in a downtrend, sell the rips (overbought score), and use caution pressing your shorts into oversold territory. Once we get back to oversold levels, it will be time to trim our $ERY position. And, if you’re wondering if we took some off into the close?
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Nice work. But the Bulls will be eating the bear’s brains soon enough.
I noticed that extreme reading as well. I’m sitting on bundles of cash waiting for the next rip. Sold the high octane plays near the highs late afternoon. Looking to reenter when we swings back the other way. Or pick up some shorts depending on what tomorrow brings.
Nice call on ERY. Should have plenty more to go by the looks of things.
Great call RC: Good to be a member of 12631. My only mistake was not to follow sooner and in greater size.
@H50 – Always a size issue you with you. Be happy with what you got. Personality counts too!
You’re right. At least I wasn’t premature lol.
@RC Just wanted to publicly say thanks for all the fantastic trading calls. 2 days, 2 amazing winners with $FAS and $ERY nailing both sides of this market.
Inside the 12631 of course.
Thanks TJWP, glad to have you in the room.
Great trade RC.
just fyi, the more you attempt to sell your services, the less credible they become. there are no posts of track record, only winning trades — which is obviously a facade in recent market swings, as there are going to be both winners as well as losers.
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Not true.
BTW: BANNED
Please listen, you dickfaces — I love you, RC, chess, cain, gint, and the rest of the iBC gang, but I’m just pointing out the fact that intelligent folks do not enjoy sales pitches. Post with some history instead of highlighting winners, and you will garner more respect. The Fly does so on his main blog, so I would encourage the 1.1st tier, to do the same.
too late. BANNED
Haters gonna hate.
I’ve been doing this shit for way to long.
Still gonna wait for the German vote.
Thanks to the PPT’s almost perfect O/S and O/B signals I have had my best trading year ever. PPT has nailed it again and again. Glad to be a part of this premium blog and all it’s elite traders.
The overbought signal is missing on the chart,
…from yesterday.