THE SHORT-TERM MODEL ARGUES FOR A DOWNTREND, HOLDING LONG (TRAPPED) AND SHORT OVER THE WEEKEND
The bottom line, it’s more clear that the bulls are losing up momentum therefore chances are higher that the Aug 9 lows will be revisited. That said, there's always another confirmation that bears have to prove themselves , which I will explain in the weekend report. But you should know any signs can be confirmed and confirmed until too late so at certain stage you have to make your bet, nothing is 100% guaranteed, it’s all about risk and reward ratio.
Just a little bullish biased toward the next Monday because today is Major Distribution Day, there’re 63% chances the next day was a green day.
Enjoy your weekend!
| MECHANICAL TRADING SIGNALS |
| SPY SYSTEM | ENTRY | STOP LOSS | Current 2*ATR(10) value: SSO=12%; SDS=11%; UPRO=19%;SPXU=17% | | Non-Stop | 08/25 L | N/A | Long is risky when long term signals are on the sell side. | | Cobra Impulse | 09/07 L | 1.7*ATR(10) | | |
| 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 | 09/02/2011 | $24.35 | 100 | $21.43 | | | | | | SDS | 09/01/2011 | $22.94 | 100 | $19.96 | 09/01/2011 | $23.01 | 7.00 | | | SSO | 08/30/2011 | $44.09 | 50 | $38.69 | | | | Gap down, manual stop loss used. | | LAST | | | | | | | 2935.00 | | | SUM | | | | | | | 2942.00 | | |
- $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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