Wednesday, January 19, 2011

Bought EZA at $69.50

EZA was the best-looking oversold ETF of the day.  I should have waited until later to buy it, but I was starting to see a support forming at 69.50 and wanted to get in at the bottom. Lesson learned: discipline! If the plan is to do transactions after 3 PM, that's what you have to do.  Improvisation is the enemy of profit, more often than not.

Target is when 2 out of 3 of the following are true at or near market close (meaning after 3 PM):
  • %B is above 0.4
  • RSI(2) is above 80
  • RSI(4) is above 60
The targets are based on four recent setups for this same ETF. The trade should last between 2 and 5 days.
DatePrice%BRSI(2)RSI(4)DaysGain
2/8/201051.040.07822.268.45
2/11/201053.790.49579.7963.5135.39%
2/16/201054.40.6576.6165.3656.58%
8/25/201057.33-0.0016.4714.97
8/27/201058.480.27978.5654.1622.01%
9/1/201060.560.71993.8280.2155.63%
10/27/201066.760.0634.66120.14
11/1/201068.10.36478.6355.5732.01%
11/2/201069.340.66694.4374.7743.86%
11/30/201066.72-0.01911.222.96
12/2/201070.850.6489.672.426.19%
12/3/201071.870.893.2177.637.72%

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