All ETFs In Short-Term Oversold State

I am going to ease into the blogging this week. I have a few interesting notes to point out over the next few days so stay tuned. I will be blogging more often going forward and posting more comments. Join me!

Anyway, I am back after a short hiatus from the blog. As most of you (long time readers) already know I like to take a few weeks off each year from writing (get some time away from the screen) to reflect on my writing, CrowderOptions.com, and my trading.

Can you believe the last few weeks? The push lower today has left almost all of the ETFs I follow for my options strategies in a short-term oversold to very oversold state. A few have actually reached an extreme state so we could see our first trade in the ETF Extremes and Sector Extremes over the next few days if all goes as planned.

I also wanted to let everyone know (paid subscribers) that I will be introducing a few new strategies over the next few weeks so stay tuned. I will be reporting all of the results, details of the strategy, etc. on the Insiders page. I will make a point to notify all of you here that a post has been made on the Insiders page.

Okay, as I stated before I am going to keep the post short tonight with the hope that I will have a few posts for you during tomorrow’s trading session. Until then have a good night.

Andy

Overbought-Oversold levels for October 6, 2008

ETF Extremes Options Trading Strategy

* S&P 500 (SPY) – 22.8 (oversold)
* Dow Jones (DIA) – 22.4 (oversold)
* Russell 2000 (IWM) – 18.3 (very oversold)
* NASDAQ 100 (QQQQ) – 15.6 (very oversold)

Sector ETF Extremes Options Strategy

* Biotech (IBB) – 16.5 (very oversold)
* Consumer Discretionary (XLY) – 15.2 (very oversold)
* Health Care (XLV) – 14.6 (very oversold)
* Financial (XLF) – 30.4 (neutral)
* Energy (XLE) – 20.3 (oversold)
* Industrial (XLI) – 9.0 (very oversold)
* Materials (XLB) – 10.0 (very oversold)
* Real Estate (IYR) – 22.1 (oversold)
* Retail (RTH) – 18.1 (very oversold)
* Utilities (XLU) – 15.9 (very oversold)

If you would like to follow my strategies with real-time alerts or have them auto-traded by a participating broker please click the following link! Try my options trading strategies. Remember, this is a marathon and not a sprint.