Wednesday, November 9, 2011

Buy confirmed.

4:30pm: I am seeing SPY 123.16 for the closing price, which confirms the buy signal. It was too close to call, so I'll get long in the morning. Shorts were closed, that was the easy part. Have a good one!

3:20pm: Wow, that was some drop. Now we're bouncing and heading the wrong direction. Anyway, nothing has changed with my system. We will get a cover signal to exit the short position. That is confirmed. As for the buy signal to move into 50% TNA, we need SPY to close below 123.18. Otherwise, we're back to sitting on the sidelines. Thanks!

2pm update: We are getting there for that buy signal! We need an SPY close below 123.18. Can we make it?!!?

1pm: The writing is on the wall. I can already tell my system won't have the guts to hold this short position through tomorrow (even though personally I want it to). On the other hand, it's refusing to go long also. So we have a similar set-up to November 1st. There is a decent chance of a rebound in the coming days but not good enough to get a buy signal today. We would have to absolutely tank this afternoon to get the buy.

I will update later, regardless. Happy trading! Oh, and yes, in case you were wondering I'm quite smitten today with my system nailing this move. When I woke up and saw the ES down 30, I think my small burst of excitement scared the crap out of my sleeping wife. :)


  1. Eagerly awaiting your read near the close. By the way, great call for today!

  2. I am assuming a long at this point, but the PPT hasn't hit yet...

    Maybe just a cover, but I may still put in a small long position :D

  3. Wow, we are sinking again. This is great.

  4. Already got out of my TZA at 32 because it's busy here and didn't want to miss it.

    Wondering if I am going TNA before close.. looks like it :)

  5. oh well, I went long with 30%.

    It was too close and I can't trade after-market...

  6. Of all the values for SPY to close... it always seems to come down to the wire.

    Anyway, my shorts are closed. But I didn't go long b/c it was too close. I will set a limit buy order for tomorrow.

    Enjoy your evening!