Just a quick message to give you an update on progress.
The Markets
First, just to say the markets are looking increasingly sloppy and the OVI is bumbling just under zero on the S&P and Nasdaq. Financial stocks are looking weak too. Support lines are forming and volatility is rising. I’ll keep you posted with videos and charts very soon. As our new PTC site (see below) is deployed, it’s going to be much easier for me to communicate.
If you have any long positions, be aware of the support lines on your particular stock chart and keep hold of your profits.
The OVI
Our thorough OVI research has concluded for the time being that our unique indicator is already optimized. I had been convinced that we could improve it but to our amazement the new algorithms didn’t perform as well. It’s a bit like Coca Cola in the 1980s, when they changed the formula, only for the consumer to force the return of the Original recipe! Fortunately we thoroughly tested our new formula before deciding to retain what we already had! If it ain’t broke, don’t fix it! But apologies for getting all excited about it – I will have to curtail my enthusiasm next time we think we’re onto something!
That’s not the end of the matter of course. I’m always seeking to improve things, but as many traders have expressed, the OVI already gives us a very unfair advantage when it comes to breakouts (remember, we’re not looking to nail the very tops and very bottoms), so for now we’ll gratefully stick to what we’ve got!
Private Traders Club Website
The PTC website is undergoing a massive transformation and the new site will be deployed very soon. Ongoing improvements will continue throughout the summer with additional videos and content. It’s going to be our flagship moving forward.
Informed Trader Newsletter
Shortly we’ll also launch our new eLetter which will outline our regular market commentary and highlight stocks for educational purposes, typically involving breakout/consolidation patterns combined with the OVI and OBV indicators. Unlike many newsletters, ours will be succinct and readable in a couple of minutes. Time is precious and we respect yours. The newsletter will be available to everyone.
Increasingly I’ll be posting on Twitter, so do follow me on @GuyKCohen. This will be an ACTIVE feed – we will not have automatic meaningless posts.
We’ll soon have a new Facebook presence as well, which I’ll inform you about in due course.
Stock Selection Service
Work has started on a potential stock selection service based on our proprietary indicators. In my next webinar I’ll canvass for your opinions on this.
In the meantime, mug up on support and resistance and look at your own charts to see especially where the support is. As we get closer to the eye of the storm I’ll post some more.
All the best
Guy
