Wednesday, October 26, 2011

Possible short.

3:45pm: I didn't think it would happen, but it may after all... if SPY closes above 124.71, the system moves 50% short again - expecting a short term pullback. Below or equal to 124.71, then remain on sidelines with a hold.



2:29pm: A 95% chance of a hold signal today. I will update later, but it really looks like we'll need to see a late day blast in either direction to get anything other than a hold.

For example, SPY needs to close above 124.71 to get a short signal.

10 comments:

  1. Looks like it might close above unless some sellers come in a the last minute...

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  2. Market is getting really extended for all of the unrest in Europe and right here at home. Need a good pull back.

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  3. Absolutely Joe, but someone (PPT) doesn't want the market to go down...

    Dang, I wish they would leave the market alone...

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  4. It wasn't 10 seconds after I posted, it began to sink. Looks like 124.71 would've been a good entry.

    Oh well.

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  5. OK, does SPY trading at 124.71 shortly after the bell qualify as a short? What to do? What to do???

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  6. Jtt, tough call. System is calibrated for the closing price so I'm not sure how it might work out.

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  7. It will probably be up to Europe tomorrow according to all of the talking heads out there.

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  8. Holy Cow !!!!! J-Trader, I think the answer to my question is to always follow the system.

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