TVO Market Barometer 1/22/15

TVO MB 1-22-15b

Today, just one day after TVO generated a long signal, the market received a flood of institutional buying (do they follow this blog?) and we expect more will follow. If you’re a bull it looks like your time has come and if you’re a bear, unless the H&S pattern can grow another shoulder, you’ll have to wait your turn for now… At this trading desk we try to keep an open mind realizing the market can turn at any given moment and usually does. So why buy the close? After rigorous backtesting, the TVO system performs much better with entries and exits on the close than the open and second guessing is a pastime in trading that’s bound to get you into trouble… so we stick to the plan. -MD

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