ETF SWING & DAY TRADING

[northam43]

Metal - Yes, I do trade similiar to this. However, I don't go short until RSI(5) is at or above 70 and I use the MACD (12,26,9) as a trend indicator. Right now I am about 75% long and will remain long until RSI(5) hits 70. I do have some exception to the rules. One is if the RSI(5) closes under 50 and MACD(12,26,9) is trending down I will sell any levels I have in the green. This is because there will be a good chance for a pull back before going to RSI(5) 70.

If you look at the past history of the RSI(5) by selling at 50 alot of gains are lost.

Right now the Stock Charts DAily RSI(5) is at 36.0 and MACD(12,26,9) is at -12.46. I see this pull back as a buying opportunity.

Good Trading To All.

Lindy

Posted by: northam43
In reply to: northam43 who wrote msg# 8053 Date:10/17/2005 1:12:39 PM
Post #of 8549

Stock Charts Daily $NDX RSI(5) at 40.0. MACD(12,26,9) at -12.55. As I stated on Friday the MACD is bottoming out. The RSI(5) has pulled back slightly. The downside is limited. I sold 40% of long position on Friday anticipating a pull back because the RSI(5) closed below 50. If we close today in the red I will add a long position. We have big tech companies giving earnings this week. They could give a boost to this market to the upside.

JMHO

Lindy