The markets are probably real close to an oversold bounce at current levels. The QQQ closed below the lower Bollinger band on lows which has historically been a bullish setup. Details here. Also the 3 day RSI on the QQQ closed below 15 which has historically been bullish for a market bounce. Details here.
Gold stock trading strategy. Since 1985 ,$100 would have compounded into $7,070 a 17% annualized rate of return with a maximum drawdown of -33%. As a comparison a buy and hold in the XAU would have grown $100 into $256 a 3.6% annualized rate of return with a maximum peak to trough drawdown of -71%.
This performance report is based on the 2 "improved" rules listed above, this report is based on taking a $10,000 position in the SPY for each signal since 1988. There have been 380 signals since 1988 and 236 have been winners for a 62% win rate. The average trade made .59% , a compounded return of 745% which is 9.51% per year.
This is a list of the stocks with very high short interest as a percentage of the float and sorted by 6 month relative strength. The idea is that it is bullish that these stocks are able to continue higher with such dour sentiment and heavy selling from shorts. When the shorts admit defeat and throw in the towel, they have to buy and cover the position which will boost the stocks even higher.