Thursday, April 7, 2011

Hold confirmed.

4pm:  A rather dull afternoon of trading leads to another hold signal.  Small caps took a much bigger hit than the SPX.  Oh darn! :)  It's about time.  I'm still holding a huge TNA short position.  I would like to see SPX hit 1320 before exiting my shorts.  I think we can do it tomorrow.   My short term upside target remains 1350-60...although this is just a stupid silly guess.  

3:47pm: SPY close of 133.59 or higher will also trigger a buy signal. But it looks like neither will happen and we'll have another hold signal. 

1:37pm: Now that the high and low of the day have probably been determined, the math can be done to predict the signal.  A close equal to or lower than SPY 132.88 will trigger a buy signal.  Anything higher and I will continue to hold shorts. Ok, time to head outside and enjoy the nice weather...

11:36am:  Chances of a buy signal are getting better by the minute....

11:28am: There's about a 40% chance of a buy signal today.  If not today, tomorrow may offer another good buying opportunity.  Time will tell.  I will update with the ending signal before the close.

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