SHORT-TERM MODEL THINKS THE TREND IS DOWN, HOLDING SHORT POSITION OVERNIGHT
First of all, my congratulations to those who voted “breakdown the Aug 9 lows”, it’s fulfilled today. Hopefully our polls always show “majority rules” instead of the more commonly “minority rules” like most the other polls… P.S. I’ve locked the poll but if you’re still able to vote, please let me know, thanks.
Secondly, from now on, I’ll use Excel table for the Demo Account and the future Demo Portfolio (therefore an Excel table is a must now). There’re a little adjustment on the number of shares bought because now everything is calculated automatically. I think it’s fair because even the future gains could be doubled but the loss today was doubled too .
The bottom line, I expect a lower CLOSE ahead (pay attention, it’s not lower low, it’s lower close), will present my witness in tonight’s report.
Cobra Impulse System initiated a short position today and therefore officially argues that the intermediate-term trend is now down.
| MECHANICAL TRADING SIGNALS |
| SPY SYSTEM | ENTRY | STOP LOSS | Current 2*ATR(10) value: SSO=13%; SDS=11%; UPRO=21%;SPXU=15% | | Non-Stop | 09/23 S | N/A | | | Cobra Impulse | *10/03 S | 2*ATR(10) | *Short initiated on 10/03/2011. | |
DEMO ACCOUNT FOR SHORT-TERM MODEL (Attention: This is not part of Cobra Impulse System)
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