Live Update

Monday, August 9, 2010

08/09/2010 After Bell Quick Summary

The bottom line, short-term trend is up, but I hold no long position overnight and cut short position trapped last Friday at close simply because I have to follow my short-term model strictly (even though I still think a top of some kind is very close now).

Don’t get confused by my short-term model with the SPY ST Model which long is still there but the stop loss has been adjusted several times, hope you’ve seen that. As I’ve mentioned several time before, the SPY ST Model is designed to hold the position as long as possible, so you have to find appropriate time to take partial profit by yourself, especially before tomorrow’s FOMC that may cause the market to move dramatically in nobody knows direction.

One trick today, when CPC <= 0.81, 44 out of 63 times (70%) a green day the next day.


I know someone will ask, see chart below, there’s no apparent edge for bears when both VIX and SPY closed in green on the same day.


blog comments powered by Disqus


The information contained on this website and from any communication related to the author’s blog and chartbook is for information purposes only. The chart analysis and the market recap do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor.

This websites provides third-party websites for your convenience but the author does not endorse, approve, or certify the information on other websites, nor does the author take responsibility for a part or all materials on the third-party websites which are not maintained by the author.