Upcoming Trade???
March 23, 2009
What a crazy day! However, even though the gains were tremdendous the overbought/oversold indicators have not reached an extreme. We have not seen an extreme in well over a month, but as we all know from the ETF Extremes performance over the past three years, patience pays. So, hopefully we see an adidtional push over the next day or two so that a short-term overbought extreme occurs so that we can take a position in the ETF Extremes strategy.
As forthe Iron Condor strategy, we had our first successful trade several weeks ago and know I will look carefully to find another opportunity for our next trade. Ideally, I would like to see a push back into neutral territory in SPY and then I will start to look at the prices. I will then use a delta between .10 and .06. I will talk about this further over the coming days. Stay tuned!!!
Have a great night!
Andy
Overbought-Oversold levels for March 23, 2009 for the ETF Extremes Strategy (available only to subscribers)
