10/24/2011 Trading Signals

SHORT-TERM MODEL BELIEVES THE TREND IS UP, HOLDING LONG POSITION OVERNIGHT

The bottom line, it’s very overbought, the next few days we’d know whether we live on the Earth or Moon.

Cobra Impulse System now demands a breakeven stop loss. As I’ve said many time, the system never tells when to take profits, so it’s up to you to take partial profits. Especially for now even you firmly believe that indeed we’re on the Moon which I have absolutely no intension to argue, still better be careful than sorry.

10 Comments

A A on October 24, 2011 at 5:28 pm

$NYMO > 90

HighRev on October 24, 2011 at 5:46 pm

Not necessarily bearish though.

gerald langelier on October 24, 2011 at 5:40 pm

NAS Next High…Time Ratio…
http://astrofibo.blogspot.com/2011/10/nas-next-hightime-ratio.html

EvilTrader on October 24, 2011 at 6:57 pm

NYMO way too high. Should be safe zone to short for a scalp.
- tytobebad on October 24, 2011 at 7:08 pm
  
  Evil, is there any lag on NYMO , lets say maybe not red TUES but should be within how many days? TIA
  - EvilTrader on October 24, 2011 at 7:35 pm
    
    We should drop at least some tens of points in SP500. But it can stay choppy for a while before the correction. Who knows ?
    
    There´s nothing guaranteed in markets, only probability.
    
    See HighRev chart below or Cobras stockchart’s chartbook to get a feel for the NYMO / Stocks correlation.