Got a feeling, tomorrow 2:30pm crash

S2007S · Oct 25, 2006

Quote from jzlucas:

RSI means nothing in an uptrend. Just keep moving your stop loss up under your trend line... I've been doing so for a few months now.

How come RSI means nothing in an uptrend but when the stocks are selling off a 10-20 RSI means completely oversold and ready to rally.

jzlucas · Oct 25, 2006

Quote from S2007S:

How come RSI means nothing in an uptrend but when the stocks are selling off a 10-20 RSI means completely oversold and ready to rally.

If you base your entry and exits on RSI... good luck. I hope it works for you.

Tums · Oct 26, 2006

Quote from S2007S:

How come RSI means nothing in an uptrend but when the stocks are selling off a 10-20 RSI means completely oversold and ready to rally.

why don't you read some more charts before motoring off your mouth here?

krazykarl · Oct 26, 2006

Quote from S2007S:

How come RSI means nothing in an uptrend but when the stocks are selling off a 10-20 RSI means completely oversold and ready to rally.

heh - rookie.

jzlucas · Nov 1, 2006

I hope by now everyone has removed the RSI "indicator" (if thats what you call it) off of their charts. You don't need it.

Buy1Sell2 · Nov 1, 2006

Quote from jzlucas:

I hope by now everyone has removed the RSI "indicator" (if thats what you call it) off of their charts. You don't need it.

Why would someone remove the RSI??? It's one the most valuable tools available to a trader.

volente_00 · Nov 1, 2006

Because it lags and does not work well in trending markets.

Buy1Sell2 · Nov 1, 2006

Quote from volente_00:

Because it lags and does not work well in trending markets.

Why wouldn't it work in trending markets? It's one of the reasons that I have stayed long! Just because it gets above 70 is not a reason to sell! If you know how to use RSI, it is extremely valuable. I wouldn't trade without it.

volente_00 · Nov 1, 2006

Your still long because you never have a profit target !

If you use rsi for divergence then it is lagging.

jzlucas · Nov 1, 2006

Quote from Buy1Sell2:

Why wouldn't it work in trending markets? It's one of the reasons that I have stayed long! Just because it gets above 70 is not a reason to sell! If you know how to use RSI, it is extremely valuable. I wouldn't trade without it.

I was referring to traders that think just because its above 70, the market is "overbought" and ready to drop. Im glad you know how to use it. I've been long for some time now as well. Enjoy your profits!