I am holding my longs for a positive surprise from the GDP numbers tomorrow.
Thursday, July 29, 2010
Update
The market is breaking down hard. Nevertheless I think the downside is over at these levels (about 1094 ES). There have been two other corrections with the same length (24 points) since the 1st of July bottom.
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3 comments:
sometimes I think $CPC works (bullish) in short time when market is in overbought condition and works (bearish) short time in oversold condition. The best shot is working(bullish) in oversold condition and working (bearish) in overbought condition. Whatdo you think from your experience working with $CPC?
Tony
As I said previously I have found it works best when it diverges from the market.
To obtain an edge I take into consideration especially how the market moved in the prior days but also what are the set-ups most people are watching, what positions they might be holding, how they interpret current market movements and whatever else comes up and I consider relevant. And of course the movements in the ratio as compared to all these.
So I try to be flexible. In fact there are few set-ups I watch for the $cpc and they are never quite the same. I define some overbought and oversold levels but they change frequently.
I think that only lot of screen time and experience with this indicator will give you an edge.
Thank you so much!
Tony
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