Replies to post #228 on The New CS Board

[SellGoldNow]

Positive OBV is actually a "negative" indicator. Think about what OBV signals and it will become "obvious" to ya. OBV is simply a measure of fokes who are willing to buy at the axed price as opposed to the bid price during any given timeframe. When the sheeple are paying the axed price it means they want in and aren't patient enough to wait for their limit to get hit..they are willing to pay market like ALL good sheeple do. Also, right now on the 10 day SPY chart I am showing an OBV of +100 mil. :o That's close to rabid buying. I have to disagree with Slamminsam and his assessment of the current situation. These are the sheeple buying and they are willing to pay whatever it takes to get in. The windup? You want to be buying when OBV readings are negative...and certainly not when they are at "piggish" levels like we see here. One more indicator you can use on the chart you posted is RSI. The RSI reading at the SPY high today tagged 80+...anytime you see that happen you can ass-oom that the high associated with that reading will be breached before any major selling ensues. This pretty much eliminates the possibility of your short term H&S pattern for the SPY. It would be best to wait until the SPY breached today's high on a lower RSI reading before buying SPY put options.