Thursday, June 23, 2011

Hold confirmed.

4pm: The hold signal was confirmed.  The system remains 50% short.  Greece news @ 3pm almost provided the "mini-miracle" needed for a buy signal but ultimately came up just short. 

1:17pm:  If SPY finishes red, we will have a hold signal.  If it can somehow manage to finish higher than yesterday's close, which would take a mini-miracle, we would get a buy signal.   I see no other alternatives so I will likely not be updating prior to the close.  I will however have that post detailing my system hopefully in the next couple hours.  Take care.

12 comments:

  1. Until the $ tanks tomorrow after the euphoria dies off and the markets soar??? not really
    Kindove confused why we are getting another short (in the guise of a hold) signal. Are the markets going to try and test their 200MA again?

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  2. WOW What a mess!! That wiped out some shorts.

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  3. Yeah, I sold SPXU this morning at 17.75

    Thinking about getting back in this afternoon, just not quite convinced tomorrow will be down again...

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  4. Same here RMI. Sold TZA at 40.40. I'm not convinced about a down day tomorrow either but I will be re-entering shorts to stay in line with the system. It's not often that a deviation from the system pays off, but it did today.

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  5. So your system is still showing a hold for tomorrow?

    Hmmm, let me go see current prices :(

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  6. So the June trades chart reflects the system and not what you do. I assume the stats also reflect the system and not what you do. Correct??

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  7. Joe, correct. Those are the system's hypothetical trades along with the closing price of TNA for that day. I will mostly follow the system, and usually when I deviate because I think I'm better than the system, I lose. Today was a very rare exception.

    I assume no one out there follows my system verbatim, heck even I don't sometimes. So I think of it more as guidance for everyone, to help them in their decision making. Of course, they are more than welcome to follow it trade for trade. It just takes a ton of discipline.

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  8. Well, I jumped back into SPXU at 17.00 so we'll see what happens tomorrow (or futures overnight).

    Have a great night !

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  9. Same here RMI. Back in TZA at 38.129. For better or worse... Good luck and good night.

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  10. Well, good luck, I just don't trade in front of those large economic numbers.
    Talk to you guys tomorrow.

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  11. Joe, thanks, I think we're gonna need all the luck we can get. Everything I see (outside my system) is bullish. I'll answer your questions you sent in a bit. Take it easy.

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