My proprietary, yet highly public, SKF shorting system had its 5 day RSI cross below 60 today - signaling that it's time to cover. If like me, you feel more downside is possible in SKF, given the strength of today's rally, use a trailing stop. Since the inception of SKF, this system has been profitable 92% of the time (11 for 12).
FAS
Horizontal support/resistance in this market has been more reliable than trending price channels. See an alternate view of FAS below.
More upside seems likely in the short-term (1-10 days) but this is still nothing more than a bear market rally - some are bigger than others.
Tuesday, March 10, 2009
SKF Shorting Strategy Wins Again
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