Follow up to my first idea - "Long term short, short term long"
Ok, an update to the first idea - where I suggested going LONG in short term, while holding a bearish long term position, and likely adding to it on every top...
RSI is a good "give-away" of overbought conditions. We've had our short term pop multiple times to 1940s area, and have been rejected by lack of demand, and overwhelming supply and falling economic indicators. RSI is again indicating extreme overbought conditions, and it's time to take out the 1800 floor, and likely set a new one. The thesis has changed from "short term long, long term short", to basically "This is the new top, short everything above 1900".
RSI is a good "give-away" of overbought conditions. We've had our short term pop multiple times to 1940s area, and have been rejected by lack of demand, and overwhelming supply and falling economic indicators. RSI is again indicating extreme overbought conditions, and it's time to take out the 1800 floor, and likely set a new one. The thesis has changed from "short term long, long term short", to basically "This is the new top, short everything above 1900".