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The ETFchart signals will be updated sometime between 12 noon ET and 3:30 PM each day. The systems are all VERY active, and very aggressive.
How it works:
- The ETFchart ETF System tracks various ETF's.
- The buy/sell signals are determined each evening and posted on the website after 12 noon ET the following day.
- The Systems are buying or selling, or selling short, the indicated ETF at the close of business price on that same day.
The current ETFs being traded are:
QLD
SDS
SPY
GDX
DIA (Diamonds)
Updated 2/12/09
The ETFchart has a buy signal for QLD posted on the site today (for Friday 2/13), but I am double checking this because Ebb told me in an email that he will be in cash Friday.
Thanks Tom, this will be interesting. I have a practice trade account I am going to follow on to see how well this does.
Ebb has a big reversal pattern for Tuesday. That's why he was hesitant. He says Tuesday will reverse whatever happens Friday - he just wasn't certain about Friday. If we happen to get a big sell-off Friday, buying at the close may be a good one-day play to be long on Tuesday (in some long stock position).
If you notice today's daily ebbchart signals, they are dependant on how the market will eventually close today. With the Dow bouncing up and down this morning, it may be a tough call. Perhaps we'll get more clarity and ditrection this afternoon.
Ebb currently follows the QLD (Ultra QQQQ, 2 X the Naz 100), GDX (gold), SPY (S&P), DIA (Dow), SDS (2 x S&P inverse).
The SPY and DIA are basically similar so I am going to track just the QLD because of it's volatility, the GDX (gold) as the only non-stock ETF, and SDS as the short player.
Here are the 2009 returns thru 2/25/09, without considering commissions:
QLD = -15.3%
GDX = +38.7%
SDS = -28.1%
It looks like the gold patterns are the only ones working so far this year.
Ebb has a buy signal for Monday in GDX. That's using today's (Friday) closing price.
Decision Moose has a long buy signal for gold also (GLD). I was thinking of getting in on Monday. Ebb is helping confirm it. I may be a little contrary and buy SLV instead. I've read alot that it is undervalued compared to gold so it may move better. Waiting for DM signal to come out Sunday night and that will help with my decision.:wacko: Thanks for posting Ebb while backtesting.:bigsmile:Quote:
Originally Posted by etftalk