THE SHORT-TERM TREND IS DOWN, I HOLD PARTIAL SHORT POSITION OVERNIGHT
Sorry for the later update, I was at airport picking my wife and daughter. The bottom line, a strong down day like today it’s very rare the low was in so buckle up for more turbulences ahead.
A little bullish biased toward tomorrow for 3 reasons:
VIX rose more than 24% on a single day, buy at today’s close sell at close tomorrow, you’ll have 87% chances since the last 2,000 trading days.
TICK closed below 1,000, 10 out of 14 times (71%) a green day the next day.
42 out of 66 times (64%) a green day the next after a Major Distribution Day.
Cobra Impulse System once again asks to tighten the stop loss.
| MECHANICAL TRADING SIGNALS |
| SPY SYSTEM | ENTRY | STOP LOSS | Current 2*ATR(10) value: SSO=9%; SDS=7%; UPRO=18%;SPXU=13% | | Non-Stop | 08/02 S | N/A | Short is for aggressive traders only. | | Cobra Impulse | 08/04 S | *08/08 Highs | *Adjust stop loss. | |
| 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 | | SDS | 08/08/2011 | $25.94 | 100 | $23.61 | 08/08/2011 | $26.58 | 64.00 | Had to leave earlier today so sold too soon. | | SDS | 08/04/2011 | $23.13 | 100 | $21.51 | | | | | | SDS | 08/04/2011 | $23.13 | 100 | $21.51 | 08/04/2011 | $24.00 | 87.00 | | | LAST | | | | | | | 2248.50 | | | SUM | | | | | | | 2399.50 | | |
- $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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