Thursday, January 20, 2011

Hold Long

4:08pm:  A hold signal was indeed generated.  Another buy signal was missed by less than 1 SPX point.   Hind sight reveals the system would've been better off in something besides small caps, but you have to take the good with the bad. 

Previous update:  Had a feeling today would be another stinker, but that's the way it goes.   Would like to see some strong buying kick in sooner than later, otherwise this could be a nasty correction.   The system will produce a 2nd consecutive buy signal should we have either late day weakness that takes the SPX down back near 1270 or strength that lifts the index back above 1280.  A 2nd buy signal for my system means to double down on the long position.  Any value between 1270-80 will likely result in a hold signal.

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