THE SHORT-TERM TREND IS DOWN, I HOLD BOTH LONG (TRAPPED) AND SHORT OVERNIGHT
The bottom line, I don’t see the bottom line yet.
Bullish biased toward tomorrow for 2 reasons:
- VIX rose more than 24%, buy at close today and sell tomorrow at close, you have 88% chances for the last 2,000 trading days.
- 44 out 68 times (65%) a green day the next day after a Major Distribution Day.
As I was worried yesterday, the long position initiated by Cobra Impulse System yesterday was stopped out today with losses. I’ll review the algorithm to see if I could prevent such a losses in the future.
| MECHANICAL TRADING SIGNALS |
| SPY SYSTEM | ENTRY | STOP LOSS | Current 2*ATR(10) value: SSO=14%; SDS=12%; UPRO=23%;SPXU=18% | | Non-Stop | 08/02 S | N/A | Short is for aggressive traders only. | | Cobra Impulse | 08/17 L | 1.7*ATR(10) | *Stopped out of long position with 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 | 08/18/2011 | $25.52 | 100 | $22.46 | | | | | | SSO | 08/17/2011 | $42.60 | 50 | $37.49 | | | | Not a new setup, just a buyback of 08/16 longs. | | SSO | 08/16/2011 | $42.82 | 50 | $35.54 | 08/17/2011 | $43.40 | 29.00 | | | SSO | 08/15/2011 | $42.86 | 50 | $35.14 | 08/15/2011 | $43.26 | 20.00 | | | SSO | 08/11/2011 | $40.16 | 50 | $32.93 | 08/11/2011 | $41.53 | 68.50 | Position too small to split, could hold overnight. | | 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 | 08/09/2011 | $28.35 | 522.00 | | | SDS | 08/04/2011 | $23.13 | 100 | $21.51 | 08/04/2011 | $24.00 | 87.00 | | | LAST | | | | | | | 2248.50 | | | SUM | | | | | | | 3030.00 | | |
- $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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