Replies to post #37121 on Profunds index and sector trading (PRO)

[Namiar]

Right Euterp,

Surprised at the magnitude of this down move, thought we would have the usual meander upward for several more days. Todays plunge wipes out yesterdays gains, and then some.

But Countertrend trading is my bread and butter. I will be establishing another long position here at the close, but will stay away from the sectors for now . .

Oversold conditions are extreme enough to establish a long presence IMO