The bottom line, the short-term trend is up. I hold no position over the weekend.
The market closed strong, looks like it’ll gap up huge the coming Monday, but personally I don’t think the Monday gap if any could hold as there’re simply too many unfilled gaps especially COMPQ which now has 11 high to low gaps. Well, I know you don’t believe this kind of gap stuff, but INDU has been up 5 days in a row, short at today’s close and cover at the first down day close since 1999, you’ll have 67% chances. If another up day for INDU (that’s Monday), short at close than you’ll have 73% chances.
Enjoy your weekend!Demo account for short-term model, $200 max loss allowed per trade. Mechanical trading signal, for fun only.
|TICKER||Entry Date||Entry Price||Share||Stop Loss||Exit Date||Exit Price||Profit||Comment|
|SSO||02/01/2011||$51.03||50||$49.23||02/01/2011||$51.46||21.50||Partial profit to lock SDS losses.|