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

A little bullish biased toward tomorrow for 2 reasons:

  • 39 out of 59 times (66%) a green day after a Major Distribution Day (NYSE Down Volume : NYSE Up Volume >= 9).

1

  • SPY down 4 days in a row, buy at today’s close, sell the next day at close, you got 62% chances since year 2003. Hold until the very first green day though, you have 83% chances.

2

Two more TradingMarkets long setups triggered today, all claimed to have above 80% winning rate. See discussion HERE for more info about whether to take the trade.

3

Those who follow Cobra Impulse System, it’s time to tighten the stop loss now.

4

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   5 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 Swing 06/01 S *06/06 High *Adjust stop loss.

DEMO ACCOUNT FOR SHORT-TERM MODEL:

TICKER Entry Date Entry Share Stop Loss Exit Date Exit Profit Comment
SDS 06/06/2011 $21.57 100 $20.85  
SDS 06/06/2011 $21.57 200 $20.85 06/06/2011 $21.93 72.00  
SDS 06/01/2011 $20.61 100 $20.05 06/03/2011 $21.53 92.00  
SSO 05/27/2011 $53.70 100 $52.13 06/02/2011 $52.13 -157.00 Mistakenly closed the 05/26 long, bought back.
SDS 05/25/2011 $20.92 200 $20.05 06/02/2011 $21.15 46.00 Not fully positioned, may add on the way up.
LAST   1692.00  
SUM   1745.00  
  • $200 max loss allowed per trade. For fun only.
  • LAST = Year to the last month balance.