05/17/2011 Trading Signals

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

No idea tomorrow but generally the very first rebound from a sharp pullback like we had in the past couple of days would fail so I’ll assume that the name of the game is still to sell the bounce.

One TradingMarkets long setup was triggered today. It’s claimed to have over 80% winning rate and indeed the setup won all the recent cases. Let’s see whether it could make it again this time. Those who followed 05/05 Trading Signals and still holding longs (because SPY hasn’t reached its 7 days high), and those who followed 05/13 Trading Signals on TRIN closed above 1 for 3 consecutive days while RSI(2) < 50, should be trapped now so you’re not qualified to take an additional long here as it’s generally not a good idea to do the average down.

Those who follow Cobra Impulse System, a short position should be opened today. The winning rate was only 68% since year 2003, which obviously is not good enough in nowadays environment where even the 90% winning rate setup would most likely fail as long as it’s a short setup, so be careful here.

MECHANICAL TRADING SIGNALS: 

	TREND	MOMENTUM	COMMENT
Long-term	2 of 2 BUY
Intermediate	4 of 5 SELL	5 of 5 NEUTRAL	Cobra Impulse in *SELL mode; Non-Stop in SELL mode.
Short-term		6 of 6 NEUTRAL
SPY SYSTEM	ENTRY	STOP LOSS	INSTRUCTION: back test is HERE, signals are HERE.
Non-Stop	05/10 S	N/A	Short is for aggressive traders only.
CI Buy & Hold	*05/17 S	N/A
CI Swing	*05/17 S	*2*ATR(10)

DEMO ACCOUNT FOR SHORT-TERM MODEL:

TICKER Entry Date Entry Share Stop Loss Exit Date Exit Profit Comment SDS 05/16/2011 $20.51 400 $19.97         SDS 05/13/2011 $20.38 300 $19.97 05/13/2011 $20.43 15.00 Half positioned. SSO 05/12/2011 $54.70 50 $53.49 05/12/2011 $55.26 28.00   SSO 05/10/2011 $55.50 50 $55.12 05/10/2011 $55.99  24.50   SDS 05/09/2011 $20.40 300 $19.47 05/12/2011 $20.44 12.00   SSO 05/06/2011 $55.49 50 $53.49 05/12/2011 $55.18 -15.50 Half positioned. SDS 05/06/2011 $20.17 200 $19.47 05/06/2011 $20.40 46.00 Half positioned. SDS 05/04/2011 $20.12 200 $19.47 05/09/2011 $20.25 26.00 Half positioned. SDS 05/03/2011 $19.94 300 $19.47 05/03/2011 $19.98 12.00 Half positioned. SSO 04/20/2011 $53.62 100 $54.73 05/04/2011 $54.73 111.00   LAST   1387.00   SUM   1649.00

$200 max loss allowed per trade. For fun only. LAST = Year to the last month balance.