THE SHORT-TERM TREND IS DOWN, I HOLD SHORT POSITION OVERNIGHT

A little bullish biased toward tomorrow and still hard to say if the real bear attack has started, definitely need a follow-through tomorrow. I’ll explain this in tonight’s report.

Two TradingMarkets long setups were triggered today both claimed to have over 80% winning rate.

1

Due to SPY data error on StockCharts, Cobra Impulse System issued a “cover” signal today and a potential buy setup is pending. I don’t know how to handle this kind of situation, so decide for yourself. Officially, unless the data error could be corrected in the following days, otherwise I’d have to report the false signals from now on, i.e. cover today at close and in the next 11 trading days if SPY drops to around $131.59 + 0.15 (today’s low), it’s a strong buy with 100% winning rate!

2

MECHANICAL TRADING SIGNALS: 

  TREND MOMENTUM COMMENT
Long-term 2 of 2 BUY    
Intermediate 5 of 5 SELL 5 of 5 NEUTRAL Cobra Impulse in SELL mode; Non-Stop in SELL mode.
Short-term   6 of 6 NEUTRAL  
SPY SYSTEM ENTRY STOP LOSS INSTRUCTION: back test is HERE, signals are HERE.
Non-Stop 05/10 S N/A Short is for aggressive traders only.
CI Buy & Hold 05/17 S N/A  
CI Swing 05/17 S  *Breakeven *Adjust stop loss. 
*Due to data error, cover signal is issued. If you use the error data then within the next 11 trading days, any time SPY drops to $131.59  + 0.15 area (05/23 low), it’s a long setup with 100% winning rate!

DEMO ACCOUNT FOR SHORT-TERM MODEL:

TICKER Entry Date Entry Share Stop Loss Exit Date Exit Profit Comment
SDS 05/23/2011 $20.93 200 $20.05  
SSO 05/20/2011 $54.61 100 $52.74 05/23/2011 $52.41 -221.00 Gap down, manual stop loss used.
SSO 05/18/2011 $54.27 100 $52.74 05/18/2011 $54.65 38.00  
SDS 05/16/2011 $20.51 400 $19.97 05/23/2011 $20.88  148.00  
SDS 05/13/2011 $20.38 300 $19.97 05/13/2011 $20.43 15.00 Half positioned.
SSO 05/12/2011 $54.70 50 $53.49 05/12/2011 $55.26 28.00  
SSO 05/10/2011 $55.50 50 $55.12 05/10/2011 $55.99  24.50  
SDS 05/09/2011 $20.40 300 $19.47 05/12/2011 $20.44 12.00  
SSO 05/06/2011 $55.49 50 $53.49 05/12/2011 $55.18 -15.50 Half positioned.
SDS 05/06/2011 $20.17 200 $19.47 05/06/2011 $20.40 46.00 Half positioned.
SDS 05/04/2011 $20.12 200 $19.47 05/09/2011 $20.25 26.00 Half positioned.
SDS 05/03/2011 $19.94 300 $19.47 05/03/2011 $19.98 12.00 Half positioned.
SSO 04/20/2011 $53.62 100 $54.73 05/04/2011 $54.73 111.00  
LAST   1387.00  
SUM   1614.00  
  • $200 max loss allowed per trade. For fun only.
  • LAST = Year to the last month balance.