Daytrading UltraShort Financials ProShares (NYSE: SKF)
Posted on December 1st, 2008
Written by Richard
Posted in: N/A (old archives)
I’m in a hurry today, so this post will be short. As usual, I picked the top stock mentioned on stocktwits.com so that you know I’m not cherrypicking.
Today, it was UltraShort Financials ProShares (NYSE: SKF), and it basically told you to get long in the morning and stepped aside. Not a bad thing…. but I wish it offered a third entry in the afternoon. If you line up the first green bar in the afternoon with the volume pressure you can see why it didn’t flag that entry. However, the price went sideways for three bars until volume pressure popped up. So, here again we have a case where the human would reasonably know to enter, and the simple stock system was…. well… too simple ;-)
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© 2010 Richard Todd. I am not a financial advisor, and nothing on the site should be considered investment advice or actionable recommendations. I'm just an individual, saying what I think, and sharing my experiences.