Replies to post #61410 on SPDR S&P 500 (SPY)

[renkoron]

LEFTYG, Like you say, price is the best indicator. The problem I have is I fly out to Spokane in morning so the market will turn when I am gone. Watching weekly I will get to a computer. Good to hear from you. Good trading.

http://stockcharts.com/h-sc/ui?s=EEV&p=W&yr=0&mn=6&dy=0&id=p10255752254&listNum=4&a=152775411

[euterpe1]

Leftyg,

I can assure you my method works quite well. As you mentioned you will give back about 4%, or more like 6-8% on a market turn. If I recall you got whipped around in August and lost a fair amount in percentage terms.

Posted by: leftyg Date: Monday, August 04, 2008 10:41:41 PM
In reply to: renkoron who wrote msg# 1687 Post # of 2021

ron...I read the two posts you referenced. It seems our trading styles are similar. I have used the Q's for years..but recently have become interested in the mid-cap S&P400. That seems to trend a bit better than the Q's..but that may be changing as that index gets more popular.

I use MVV and MZZ as the instruments. Both are 2X the S&P400. Sometimes I use the UWM and TWM funds which are 2X the RUT.[i/]


You got killed on this MZZ trade in September. IF you stayed with it then congrats, but I would imaging the Renko charts flashed a sell at some point on the 19th only to self-correct when the trend resumed back down.

In other times of distress, the markets would have bounced already. These are abnormal times of market distress and I think that T/A is becoming meaningless.