THE SHORT-TERM TREND IS UP, I HOLD LONG POSITION OVER THE WEEKEND

No idea what’s next, the seasonality is bullish for the next Monday though as according to Stock Trader’s Almanac, Monday before July expiration, Dow up 6 of last 7. I don’t see any bearish signs but according to the chart below, a red Non Farm Payroll day usually means a reversal which in our current case a top? The signal worked amazingly in the past, only failed 1 out of 10 times. Well, for now, I don’t believe the high was in yet as discussed in the last night’s report, but let’s wait and see.

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Enjoy your weekend.

MECHANICAL TRADING SIGNALS
SPY SYSTEM ENTRY STOP LOSS Current 2*ATR(10) value: SSO=5%; SDS=6%; UPRO=7%;SPXU=9%
Non-Stop 06/30 L N/A
Cobra Impulse 06/29 L 07/06 Low  
DEMO ACCOUNT FOR SHORT-TERM MODEL (Attention: This is not part of Cobra Impulse System)
TICKER Entry Date Entry Share Stop Loss Exit Date Exit Profit Comment
SSO 07/08/2011 $54.84 50 $52.10 Speculation play, half positioned.
SSO 07/07/2011 $55.46 100 $52.69 07/07/2011 $55.76 30.00  
SSO 07/06/2011 $54.22 100 $51.51 07/06/2011 $54.34 12.00  
SSO 07/01/2011 $53.90 100 $51.21 07/01/2011 $54.50 60.00 New stop loss strategy: 2*ATR(10) used.
SSO 06/22/2011 $50.30 50 $52.69  
LAST   1905.00  
SUM   2007.00  
  • $300 max loss allowed per trade. For fun only.
  • LAST = Year to the last month balance. SUM = Year to date realized gains/losses.