Friday, 13 April 2007

No New Signals

Today's COTs numbers didn't generate any new signals in the markets I follow. Not one!

I did get renewed buy signals for the NASDAQ and Nikkei and renewed sells for USO and XEG.TO. (See caveat about USO in my last post as well as details on how I do the XEG.TO trade.)

A "renewed" signal is one in which a market is already on a buy or sell signal, and traders again register an extreme net trading position in the same direction. I haven't studied how profitable it is to follow renewed signals, but from time to time I have done trades based on renewed signals when I didn't have a trade on yet.

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