THE SHORT-TERM TREND IS DOWN, I HOLD NO POSITION OVER THE WEEKEND
SPY down 5 consecutive days, buy at close today sell the next Monday, you got 69% chances since the last 2,000 trading days. And if hold until the very first green day, you’ll have 88% chances. The chart below was drawn on 06/07 Trading Signals but should be good enough for today.
Two more TradingMarkets long setups were triggered today, both claimed to have above 80% winning rate.
As mentioned in today’s intraday comment, a potential low was detected by Cobra Impulse System, so the short position was covered and a limit buy order 15 cents (SPY) above today’s low was put for bottom fishing. The order is good for 11 trading days. The statistics below should enough prove how good such a bottom fishing setup WAS.
Enjoy your weekend!
| MECHANICAL TRADING SIGNALS |
| SPY SYSTEM |
ENTRY |
STOP LOSS |
Current 2*ATR(10) value: SSO=6%; SDS=5%; UPRO=8%;SPXU=8% |
| Non-Stop |
07/22 L |
N/A |
|
| Cobra Impulse |
07/28 S |
2*ATR(10) |
*Close short initiated on 07/28 with gains.
*Limit buy 15 cents (SPY) above 07/29 low. Stop loss 2*ATR(10). |
|
| 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 |
07/25/2011 |
$54.79 |
50 |
$51.50 |
07/28/2011 |
$51.50 |
164.50 |
Speculation play, half positioned. |
| SSO |
07/21/2011 |
$54.06 |
100 |
$50.82 |
07/21/2011 |
$54.84 |
78.00 |
|
| SSO |
07/19/2011 |
$52.79 |
50 |
$50.82 |
07/25/2011 |
$54.57 |
89.00 |
|
| SSO |
07/19/2011 |
$52.79 |
50 |
$49.62 |
07/19/2011 |
$53.40 |
30.50 |
|
| SDS |
07/14/2011 |
$20.65 |
300 |
$19.62 |
07/14/2011 |
$20.94 |
87.00 |
|
| SDS |
07/13/2011 |
$20.50 |
200 |
$19.27 |
07/13/2011 |
$20.63 |
26.00 |
|
| SDS |
07/11/2011 |
$20.37 |
100 |
$19.62 |
07/29/2011 |
$21.44 |
53.50 |
|
| SDS |
07/11/2011 |
$20.37 |
100 |
$19.15 |
07/11/2011 |
$20.60 |
23.00 |
|
| SSO |
07/08/2011 |
$54.84 |
50 |
$52.10 |
07/14/2011 |
$52.10 |
137.00 |
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 |
07/11/2011 |
$53.42 |
156.00 |
|
| LAST |
|
|
|
|
|
|
1905.00 |
|
| SUM |
|
|
|
|
|
|
2248.50 |
|
|
- $300 max loss allowed per trade. For fun only.
- LAST = Year to the last month balance. SUM = Year to date realized gains/losses.
|
