Last week I posted an indicator that I am using for day trading. What I have noticed is that TLT leads the S&P and it's been working well for me so far.
The other day one of my readers sent me a link to a website which actually said my indicator doesn't make any "sense". This website said that I am looking for patterns where there aren't any. The website didn't say anything negative about me but it did say my method doesn't make "sense".
Let's take a look at today's chart.
Above is a 5 minute chart of today's trading in SPY and TLT. At 1:15 the S&P made a new low but TLT did NOT make a new low. This was a screaming buy signal and I went long. As you can see, I did very well using this one indicator and I didn't make "cents" I made dollars.
It just amazes me how people don't know what to write on their own blog so they decide to criticize the work of other people. That to me my friends doesn't make sense.
Wednesday, June 13, 2007
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