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Gold/Mining/Energy : Big Dog's Boom Boom Room (Moderated)
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To: Think4Yourself who wrote (24)4/18/2005 9:17:17 AM
From: kodiak_bull  Read Replies (1) of 89
 
I won't go into the details here, but the VIX gave a short term buy signal, a very strong one, on Friday. With this spike up to the 17 level it signals a buy this morning and a hold for 2-3 days. The system that uses this signal is not always right (nothing is) but is a very solid system with excellent results. As with an OIH call play, it will pay to be conservative and see how the first hour plays out.

The way I use the VIX signal is to buy SPY calls (or puts on down spikes), since the VIX corresponds to the broader market. The VIXN also had a huge spike and gives a similar signal for the QQQQs. I understand from my friends who are TRINQ traders that extreme oversold signals are in the tea leaves there as well.

Just a little window on some of the very short term, purely technical signals. I wish there was a VIX like indicator for energy stocks.

Kb
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