CGTS Algo Trading System
Looking for tremors:
The other foot:
We don't chase the tape. Let's look at some of our positions and non-positions.
GBTC: struggling to find a trading bottom at 12.17 support. PROP1 TR TRADING SELL (profit taking). Long-termers should sit still and watch the battle, which we think BUYERS will win.
SPX (GSPC). One can see in this chart that +5 is also a SUPPORT line. GSPC is resting on that line today. We add a new indicator to our charts today. M2F ALT WEEKLY 3. Weekly M2F. Which travels between 0 (OVERSOLD) and +100 (OVERBOUGHT). Being OVERBOUGHT doesn't mean much. COUNT1=2 and M2F WEEKLY 3 =100 does mean something; and is a TRADING SYSTEM, although not much different than PROP1 TR. Still bullish.
AMD is going higher.
FSLR LONG. Still long.
TEN CENT. Do you LOVE TCEHY? Be careful. MOMO trend is negative. M2F ALT Weekly 3 is topping. I don't like CHINA stocks generally.
UBIO SHORT, BIOTECH SHORT.
FROM THE "PREDICTING EARTHQUAKES IS FOLLY" CATEGORY:
SHORT TGB, TANEKO MINES.
ERY LONG. ENERGY BEAR.
DGAZ LONG. NATURAL GAS BEAR 3x.
Interested in the latest SA instablogs
Disclosure: I am/we are long GBTC. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
Disclosure: I am/we are long GBTC.