The Daily Breakout
Thursday, May 22, 2008 at 10:55 pm
SAFM: Sanderson Farms, Inc., an integrated poultry processing company, engages in the production, processing, marketing, and distribution of fresh and frozen chicken products in the United States.
FLIR: FLIR Systems, Inc. designs, manufactures, and markets thermal imaging and infrared camera systems in the United States and internationally.
NDSN: Nordson Corporation manufactures equipment used for precision dispensing, testing and inspection, and surface preparation and curing.
I believe that all of these released earnings that beat and surprised. They might all be candidates for PEAD, or Post-Earnings Announcement Drift.
DRYS is looking like it is going to show up on your RSI(2) screen this weekend.
So you are suggesting a close below 10 (RS2)today indicates a buy on Tuesday at the open?
Why not wait for a retest of the 200 around 80-81 as you suggested in an earlier post?
E8-
I’m not trading this on individual equities. I’m only trading it on the highest avg. volume leveraged (ultralong and shorts) ETFs.
The strategy has you buy then when RSI(2) closes below 10. The buy would be at the next day’s open, so that would be Tuesday morning. Right now QLD, DDM, and SSO are all have RSI(2) < 5. I am already long those, and a couple others.
The 200 day average has nothing to do with the leveraged etf RSI(2) strategy.