RSI(2) Strategy Triggering: DDM Buy On Open
Friday, May 9, 2008 at 2:07 pm
This is just a quick intra-day note telling you that (DDM: 47.11 0.00%) has an RSI(2) of ~6 today. This will trigger a buy-on-open for Monday of DDM, the ultralong Dow 30 ETF. I will take this signal Monday morning. Best case scenario, the Dow gaps down Monday morning and you pick up DDM even cheaper.
Keep watching (SSO: 41.87 0.00%) and (QLD: 64.35 0.00%) for an RSI(2) cross below 10.
Don’t forget to vote for Fly, which, incidentally is also a vote for me and the other loyal band of iBC tabbed bloggers.
Well Shed, I voted for Fly even tho he’s an a$$clown because I like your blog quite a bit. Also, Fly does seem to be able to bank some coin so I might start following him too.
Check out EXM.
Its a winner this week.
excessive rate cuts and increased liquidity is major signal to get into the market… Dow 15,000 here we come.
lol, I’m guessing you’re exaggerating? Don’t think its Sarcasm…
Bought some July $78 calls
well that rsi(2) strategy seems have worked well today. Maybe we retest the 200DMA?
Kurt, yes, I’m enjoying the strategy very much.
It is only natural that the indexes attempt a retest of resistance, unless, of course, they would have rolled over today and broken the ~month long uptrend.
Nice trade Wood.
Thanks Dog. Maybe I’ll get lucky, and the Dow will rally again tommorow. DDM RSI(2) is at 65 now. A rally tomorrow will mean the trade will close Wednesday a.m.
Two days and 4 to 6 percent would be sweet!