Thursday, December 22, 2011

Sell confirmed. No short.

3:45pm: We lost the short signal, but a sell signal remains. So my system heads to the sidelines. I notice VXX is up and VIX is down. This usually means a pullback is imminent. On the other hand, seasonality as we all know remains strong. It will probably lead to a bunch of boring range days to close out the year.

11am: It's only 11am ET, but we are getting a strong short signal. If it holds the system will book profits in TNA and open a partial short position. I may consider using a different ETF for shorting, given the tendency for small caps to outperform this time of year. BGZ is an old favorite of mine. I will update later... happy trading.
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5 comments:

  1. RealMoneyIssuesDecember 22, 2011 at 11:19 AM

    Interesting... I guess I am glad I didn't get in TNA this morning (mainly because it kept going up)...

    I will wait and see what happens with your signal later today :)

    ReplyDelete
  2. AlgyrosDecember 22, 2011 at 11:30 AM

    Thanks for the heads-up. I'll stay tuned.

    ReplyDelete
  3. AlgyrosDecember 23, 2011 at 11:46 AM

    Thanks for all you do, J-Trader. I wish you a wonderful holiday season.

    ReplyDelete
  4. JamesDecember 23, 2011 at 2:49 PM

    Thanks! Happy holidays to you also.

    ReplyDelete
  5. jimDecember 23, 2011 at 3:29 PM

    Merry Christmas J-Trader and to your family.

    Thanks for your blog and trading signals.

    ReplyDelete

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