Replies to post #61441 on SPDR S&P 500 (SPY)

[fast_eddie]

Lefty...I just wondered what box size and tiem frame do you use for your mzz renko charts.

Thanks

FE

[euterpe1]

Lefty,

I like the Renko charts, but have not had time to study them as much as I would like. Yes, I did try to game the charts and in probably 4 out of 5 market periods I would have been right to go long with the market price so far outside the weekly and monthly BB's. Unfortunately, this is not a normal market period and I am beginning to think that as bad as things appear, they are actually worse than we may know or we would have at least had a significant bear market rally.

I just don't appreciate being chided when we've all made our mistakes.

I normally follow the $NAMO as a trend following indicator. It's very much like following Renko charts. It still says we are in a downtrend, but again, in a grossly oversold state, we would "normally" get a significant bounce here. I don't or can't short a large percentage of my portfolio, so I look to either be in cash or long in my investments. I did this on 9/17 through 9/19 and cleaned up. Go back and check my posts. Yes we were in a downtrend, but way oversold. That has worked for me over and over when those instances occur, but again, this time it is different.

Congrats on staying with MZZ through 9/17-9/19, that would have shaken most folks out of their position. Those 2 days wiped out 2 weeks of significant short profits.