Valo 05-Jun-2012 07:20 PM
OBOSS Market Timing 06/05/12 'OBOSS at -1.72' (#13502)
05-Jun-2012 07:20 PM
OBOSS is in over sold territory, but not extreme. Watch for a sudden move lower that would push the market into extreme over sold territory. There is still plenty of room to the downside so risk management is priority #1.
NOTE: If you're scaling into the market, be very cautious at this level as you want to have average prices as close to the bottom as possible. Considering that we have been scaling into the market for two weeks on pushes lower you should already own stocks at these price levels and would only consider further exposure at lower levels. We are now looking for the market to push higher for it's second cycle into neutral territory. Hopefully this push will be the one that takes the market all the way back to over bought where we will take some profits.
The best way to succeed is leave enough buying power so you can get more aggressive as OBOSS gets extreme -2.5 or lower