THE SHORT-TERM TREND IS DOWN, I HOLD NO POSITION OVERNIGHT

The bottom line, strangely enough, I don’t feel bearish about today’s actions as I think the market is taking a breath here before the next leg down. Well, perhaps another sharp down tomorrow would wake me up. Smile

A little bullish biased toward tomorrow for 2 reasons:

VIX rose more than 22%, buy at close today and sell tomorrow at close, you have 76% chances for the last 2,000 trading days.

1

43 out of 67 times (64%) a green day after a Major Distribution Day.

2

MECHANICAL TRADING SIGNALS
SPY SYSTEM ENTRY STOP LOSS Current 2*ATR(10) value: SSO=16%; SDS=14%; UPRO=25%;SPXU=20%
Non-Stop 08/02 S N/A Short is for aggressive traders only.
Cobra Impulse 08/04 S 08/08 High
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 08/09/2011 $28.35 522.00  
SDS 08/04/2011 $23.13 100 $21.51 08/04/2011 $24.00 87.00  
LAST   2248.50  
SUM   2921.50  
  • $500 max loss allowed per trade. For fun only.
  • LAST = Year to the last month balance. SUM = Year to date realized gains/losses.