THE TREND IS UP AS PER SHORT-TERM MODEL, HOLDING SHORT POSITION OVERNIGHT
The bottom line, today is the weakest follow-through I’ve seen since the Aug 9 lows, bulls need show more strength tomorrow otherwise the rebound might not go very far.
So the question is, will we see a renewed strength from bulls tomorrow? As of now, I’m a little skeptical, because TICK closed above 1,000 again today which means more likely no big up tomorrow if not red.
The short setup of the Cobra Impulse System wasn’t confirmed today but the system will try to sell short again tomorrow, see table below for more details.
| MECHANICAL TRADING SIGNALS |
| SPY SYSTEM |
ENTRY |
STOP LOSS |
Current 2*ATR(10) value: SSO=11%; SDS=11%; UPRO=17%;SPXU=16% |
| Non-Stop |
08/25 L |
N/A |
Long is risky when long term signals are on the sell side. |
| Cobra Impulse |
09/07 L |
1.7*ATR(10) |
*Short if below 09/13 low and close red tomorrow, 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 |
09/13/2011 |
$40.51 |
50 |
$35.65 |
09/13/2011 |
$40.88 |
18.50 |
|
| SDS |
09/13/2011 |
$24.03 |
100 |
$21.39 |
|
|
|
|
| SDS |
09/02/2011 |
$24.35 |
100 |
$21.43 |
09/13/2011 |
$23.48 |
3.00 |
|
| SDS |
09/01/2011 |
$22.94 |
100 |
$19.96 |
09/01/2011 |
$23.01 |
7.00 |
|
| SSO |
08/30/2011 |
$44.09 |
50 |
$38.69 |
09/12/2011 |
$38.69 |
-270.00 |
Gap down, manual stop loss used. |
| LAST |
|
|
|
|
|
|
2935.00 |
|
| SUM |
|
|
|
|
|
|
2693.50 |
|
|
- $300 max loss allowed per trade. For fun only.
- LAST = Year to the last month balance. SUM = Year to date realized gains/losses.
|
