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

Sorry for the later update, I was at airport picking my wife and daughter. The bottom line, a strong down day like today it’s very rare the low was in so buckle up for more turbulences ahead.

A little bullish biased toward tomorrow for 3 reasons:

VIX rose more than 24% on a single day, buy at today’s close sell at close tomorrow, you’ll have 87% chances since the last 2,000 trading days.

4

TICK closed below 1,000, 10 out of 14 times (71%) a green day the next day.

1

42 out of 66 times (64%) a green day the next after a Major Distribution Day.

2

Cobra Impulse System once again asks to tighten the stop loss. 

3

MECHANICAL TRADING SIGNALS
SPY SYSTEM ENTRY STOP LOSS Current 2*ATR(10) value: SSO=9%; SDS=7%; UPRO=18%;SPXU=13%
Non-Stop 08/02 S N/A Short is for aggressive traders only.
Cobra Impulse 08/04 S *08/08 Highs *Adjust stop loss.
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
SDS 08/08/2011 $25.94 100 $23.61 08/08/2011 $26.58 64.00 Had to leave earlier today so sold too soon.
SDS 08/04/2011 $23.13 100 $21.51  
SDS 08/04/2011 $23.13 100 $21.51 08/04/2011 $24.00 87.00  
LAST   2248.50  
SUM   2399.50  
  • $300 max loss allowed per trade. For fun only.
  • LAST = Year to the last month balance. SUM = Year to date realized gains/losses.