Wednesday, April 11, 2012

Short signal confirmed.

3:50p: It's coming down to the wire. A short signal (which means to sell remainder of long position and go 100% short) is confirmed if SPY closes 136.88 or higher.

Otherwise, sell longs and head to sidelines....

That's all for today. Good luck!

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I'm sure someone will be asking, so here is what I've got today. :)

The system is posting a sell signal, but not a short at this point. Due to the extremely large losses suffered yesterday and the model's tendency to sell these large one-day rallies when the market is unhealthy, it appears we are unfortunately heading to the sidelines with a large loss. I can only hope for an extremely strong close today.

Because it's not a short signal, it might be indicating there is more upside the next 1-2 days. Certainly, a multi-day rally back up to 1380-1400 is not out of the question, but if you're following the model verbatim like me, it appears time to head to the sidelines and wait for the next signal.

15 comments:

  1. After a bit of digging, I see there is a decent chance of getting a short signal today. It's not SPY dependent so I can't give an SPY number to monitor. It's going to require small caps to excessively outperform large caps. I'll keep you posted as the day unfolds.

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  2. Another squeeker...

    Well, I am short now... let's see what happens...

    I got 3 (incl yours) to go short, so maybe (at least for tomorrow) there is some more downside coming...

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  3. Thanks J. Wonder what your CCI signal is saying. The CCI has been spot on for the past couple of calls.

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  4. Thx for your signal, J... I'll take profits on the long, and slowly scale into a short over the next couple days... I am hoping they gap us up open tomorrow, above today's HOD. That would give a sweet entry.

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    Replies
    1. Looks like that was a good move as TNA is up over 2% this morning...
      Hope the market starts going down soon...

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  5. We tried to rally above the 50dma and failed. Good for shorts. If we gap up and is around 1373-4 then that could be a good place to short just depends. If it gets above Wed HOD then be careful, good place to get long..put a stop just below the 50dma. Just depends on other charts and news of the day.

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  6. Glad you got a short signal, I was stopped out Mon AM. Did some DT but broke even there. Got some TZA at the close so we will see what happens next. I use other charts and most of them are on sell!! Lot of buyers that could jump in so be careful.

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  7. Replies
    1. you would sell at the great of a loss? i couldnt do it yesterday so i'm holding long.

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    2. Well, I tried things on my own and failed so I am going to follow J, I JUST PICKED A BAD TIME TO START...

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    3. yea, not all system are perfect, but the year is still young, hold your heads up or should I say account.

      p.s if it makes you feel any better i'm negative for the year too.

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  8. J, throw us a bone here.

    Hold or go with the trend, long?

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  9. Yeah, sorry, I agree this sucks. I'll try to dig up a bone for my afternoon post.

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