Site Meter The Lawyer Trader: Overbought/Oversold Indicator

Wednesday, June 30, 2010

Overbought/Oversold Indicator

I've been tracking my own overbought/oversold indicator that takes an average of all 30 stocks that I track every day. Here's a shot of today's reading of 1.575:No surprise that it registered an oversold reading today. What does that mean for me? It means that I will not initiate any new shorts while we are oversold. I am short right now and am carefully trailing a stop in TZA. We'll see what tomorrow brings.

TLT

1 comment:

Tarigal said...

George! I miss you man! Come back and give us some love here one of these days bro. Trading has changed so much for me since we used to clunk around. Talk to you later bud