Exactly, yet another CCI buy signal. Eventually these aren't going to work anymore... The market can't keep going up forever.
I was on the road today and couldn't post much. I see we are still a ways from the half stop level. To answer your question Steve, all SPY has to do is break 138.55 intraday and I'll exit half my long position at 359p on the day it happens...if it happens.
The stop will remain 138.55 unless SPY rockets back up to a new 2012 high, in which case it could shift up to 139.09 from 3/29 depending on how fast it gets to the new high.
I'm not here to guess, but I'll do it anyway just for fun. I think we'll see a small rebound tomorrow, then a bigger rebound Monday... We'll get a short signal Monday and be out of this long trade with a small gain. Then the market can tank into the mid 1300's.
Thanks a bunch J!
ReplyDeleteHi J
ReplyDeletedoes your stop level change or will it always be 138.55
also, does it have to CLOSE below it or simply trade below it?
lol strong buy according to CCI, in case anyone care
ReplyDeleteExactly, yet another CCI buy signal. Eventually these aren't going to work anymore... The market can't keep going up forever.
ReplyDeleteI was on the road today and couldn't post much. I see we are still a ways from the half stop level. To answer your question Steve, all SPY has to do is break 138.55 intraday and I'll exit half my long position at 359p on the day it happens...if it happens.
The stop will remain 138.55 unless SPY rockets back up to a new 2012 high, in which case it could shift up to 139.09 from 3/29 depending on how fast it gets to the new high.
I'm not here to guess, but I'll do it anyway just for fun. I think we'll see a small rebound tomorrow, then a bigger rebound Monday... We'll get a short signal Monday and be out of this long trade with a small gain. Then the market can tank into the mid 1300's.
yaaaay, looking like another down day to start... I hope we get another big buy program like yesterday to lift the markets back up...
ReplyDeleteGo Big Ben !!!