August 22, 2017

Sustained Gains are the Gains That Count

The market is still range bound on a short-term basis. As I stated yesterday, the longer the market remains range bound the sharper the move outside of the range no matter the time frame. Basically, yesterday’s post will suffice for tonight’s post. So, with that being the case I will keep the post very, very short tonight.

I will continue to sit patiently on the sidelines waiting for Mr. Probability to become favorable and then take the appropriate action. Right now, at least for the technical indicators I prefer to use, the market is not showing its hand. Remember, opportunities are made up easier than losses and as I always state “Patience Pays”. Keep these little sayings in mind when signals are few and far between with certain strategies. This is a marathon and not a sprint. Okay, I had to get that last one in there for good measure. Anyway, again keep the aforementioned sayings in mind. They will often lead to the gains that count – sustained gains.

Have a great night!


Overbought-Oversold levels for December 4, 2008

ETF Extremes Options Trading Strategy

* S&P 500 (SPY) – 48.4 (neutral)
* Dow Jones (DIA) – 46.7 (neutral)
* Russell 2000 (IWM) – 47.3 (neutral)
* NASDAQ 100 (QQQQ) – 45.8 (neutral)

Sector ETF Extremes Options Strategy

* Biotech (IBB) – 49.8 (neutral)
* Consumer Discretionary (XLY) – 63.8 (neutral)
* Health Care (XLV) – 47.8 (neutral)
* Financial (XLF) – 53.1 (neutral)
* Energy (XLE) – 33.7 (neutral)
* Industrial (XLI) – 50.1 (neutral)
* Materials (XLB) – 43.0 (neutral)
* Real Estate (IYR) – 50.2 (neutral)
* Retail (RTH) – 65.9 (neutral)
* Utilities (XLU) – 42.2 (neutral)

Ultra Extremes (Insiders Page Only)

* Ultra Long (SSO) – 45.5 (neutral)
* Ultra Short (SDS) – 48.2 (neutral)

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