Wednesday, November 2, 2011

Sold RUSS - $40.00

This is a daily chart of the Direxion Russia Bear 3X ETF (RUSS) which I sold yesterday at $40.00 for just shy of a 12% loss. My expectation that the US Dollar daily cycle had bottomed was clearly an attempt to catch a falling knife that failed, as price went considerably against me and immediately after my purchase at $45.38.

For the past couple of weeks I have devoted every free moment to working on programming a Think or Swim (TOS) cutom indicator that I hope will eventually take the shape of a definitive True Strength Index (TSI) indicator application. I have recently figured out a mathematical method for having the platform identify the location of trend line break buy and sell signals. The obstacle I continue to run into is the now annoying 'script too long' error message when trying to define a sufficient number of possible conditions.  The other TSI buy and sell techniques such as the ZERO crossover, positive and negative divergences, nose bleed and so on are not particularily difficult to program.

So while everyone is watching the market and figuring out what it will do next I have my nose down to the keyboard writing code and slowly making progress toward my end goal.

My TSI Trading record has been updated.