In the middle of Monday, at 1:33 EST, I said the market was going to toss its tacos. Thirteen minutes later, it reached its ultimate peak of the day, then it started plunging. A nearly 200 point rise on the Dow was laid waste.
Some people wonder what amazing indicator I must have used to pinpoint this reversal. Well, I'll reveal it to you. It's called the OTIS indicator. It is activated when I look at the screen and say, "Oh This Is Silly". This occurred when I saw what was happening with BAC, C, AIG, and a host of other good-for-nothing stocks.
And I'm being quite serious. Do you know how many of ProphetCharts' nearly 200 indicators I use? Zero. (OK, molecool, don't get excited; I mean the number zero). Zilch. Not a one.
If you ever see me putting up a stochastic or a moving average, it's just to satiate those who are hungry for less-simple charts. But I'm faking it. I don't use that stuff. At all.
Just OTIS.
