Houston - we have a problem. Simultaneous *Buy signalS* for ERX AND ERY!!!
We`re running into some crazy trading this week and I'm not going to try to touch it with a 10 foot pole...;)......here`s the problem:
Usually my buy signal is clear cut but recent events have thrown its reliability out the window for the near term, as both ERY & ERX have BOTH had their buy signals set off. I`ve never seen this happen in the last couple years with this ETF pair. Is this an early sign of a greater pullback? Did this same thing happen to DIG and DUG prior to the 2008 collapse? Maybe the thing to do is to buy a few puts and calls, sit back and let this sort itself out; or simply just daytrade..