Friday, April 15, 2011

Sell signal...

5pm: With that nice burst before the close (which seems to happen frequently on trend days) I was able to get a pretty good price of 85.70 which gave me a small gain overall for my long position (I bought my 2nd batch of TNA on 4/12 rather than 4/11). It was a roller coaster ride the past few days and I'm more than happy to end up in the black. The system hints at the possibility of more upside by not giving a short signal. As I said before, I'd like to see a pullback before we continue to work our way higher. Until then, adios...have a good weekend and thanks for reading.

3:51pm: Back to a sell signal. I'm exiting here.

1:09pm: Recently, one of the indicators built into my system has generated an upthrust alert. An upthrust alert in a healthy market overrides the sell signal and forces a hold signal to be produced. If this continues into the close, I will be holding my long position over the weekend.

11:38am: Looks like we will probably get a sell signal today. I doubt we'll get a short signal though, so at 4pm I'll be closing out my long and sitting on the sidelines for the weekend. Perhaps we'll see some weakness early next week for the system to buy back into. We'll see. I'll update later.

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