THE SHORT-TERM TREND IS UP, I HOLD LONG POSITION OVER THE WEEKEND
I don’t have good feelings for the next week. Very strong momentum guarantees more on the upside, that’s for true, but if you drive your car over 200 miles per hour on a 50 mile limited road and still accelerating, that’s too much.
At least I don’t expect the next Tuesday to be up much if not red, because TICK closed above 1,000 today.
With no exception, NYADV MA(5) argues for a red Tuesday.
One short setup: SPY up 3 days in a row while volume down 2 days in a row (so called price volume negative divergence), short at today’s close, surprisingly worked well for the past 3 years.
Enjoy your long weekend!
| MECHANICAL TRADING SIGNALS |
| SPY SYSTEM | ENTRY | STOP LOSS | Current 2*ATR(10) value: SSO=5%; SDS=6%; UPRO=8%;SPXU=10% | | Non-Stop | 06/30 L | N/A | | | Cobra Impulse | 06/29 L | Breakeven | | |
| 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 | 07/01/2011 | $53.90 | 100 | $51.21 | 07/01/2011 | $54.50 | 60.00 | New stop loss strategy: 2*ATR(10) used. | | SSO | 06/22/2011 | $50.30 | 50 | $50.73 | | | | | | LAST | | | | | | | 1905.00 | | | SUM | | | | | | | 1965.00 | | |
- $300 max loss allowed per trade. For fun only.
- LAST = Year to the last month balance. SUM = Year to date realized gains/losses.
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