That Was Fun!

Boy, I had a lot of fun today. We seem however be stuck at the 907 RL – not surprising since this one has a 90% probability. Which is why Mr. Zero didn’t want you to go short today. The first signal was blocked (shown blue) because of the 918 but we made it past that – which has happened quite a bit during the holidays. It seems to happen when there is very little momentum, and based on what I’m seeing out there we’ve got less momentum than during the Christmas week – I’m not kidding.

So, I didn’t want to optimize for that and I won’t until the momentum indicators I use tell me that this is the new standard. You never want to optimize for thin markets, bad idea. Anyway, similar thing happened at 907 but this time it was a good thing. We’ll need a strong signal to pass this one (or we sneak by overnight like in today’s open) and I also think we’re due for a little consolidation before we do.

Some people are confused that the blue lines often disappear the next day. Well, I have a technical problem there – thinkscript does not allow me to ‘keep state’. So, when I change the RLs to the next day and they move then all is forgotten and VTAs that once were blue turn green. There is no way for me to fix this as thinkscript is limited in that respect – it’s not a programming language really, more of a scripting language. Only thing I can do is to log it and remember. That’s why I also think that a trading log/account will be the best way to keep track going forward. Unless of course you guys want to skip considering the RLs and just trade the signals – blue or not. Actually in the past two weeks that would have been the most profitable thing to do, but I’m torn on recommending that because I believe in the RLs. I would actually like to hear your suggestions in that regards.

No forecast tonight as it’s Wednesday – Berk will do an update tomorrow.

UPDATE 7:00pm EST: Wow, judging by the comments it seems that most people prefer the Zero on its own merit. Just to make sure I have put up a poll….

Thanks guys! I really appreciate you taking the time to chime in.