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Re: duelittle2 post# 6103

Thursday, 05/12/2011 4:48:39 PM

Thursday, May 12, 2011 4:48:39 PM

Post# of 19899
another note, now ive said i try not to concern myself with daily fluctuations as long as the fundamentals remain the same, but for those of you who watch it constantly, i will give you a little tip on what very short term traders and day traders use; set the RSI to a 2 day period, and use a 5 day moving average. First, if you notice, the 2 day RSI is in oversold territory. Secondly, pay attention to how the candlesticks react around the 5 day moving average. Notice how the candlesticks always return or whip back to the 5 day line. If it gets a little too far from the line it whips back to the line, if it goes to far under the line it whips back to it. As of right now we are a little over 10% under the line and the RSI is in the teens, in other words it is short-term oversold, and should expect some sort of rise to get it back to the line. GLTA
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