Thursday, March 22, 2012

Buy confirmed.

3:52pm Update: Change of plans! Buy signal only if SPY closes 139.30 or lower.
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If SPY closes below 139.61 we will get a buy signal. The system will cover shorts on the close and switch to 100% long TNA.

The SPY value could change, but only if today's range is broken... i.e. SPY breaks down to a lower low. I will update later.

FYI, there is no chance of a strong buy signal today. Also, my CCI System is not giving a buy signal unless the daily SPY CCI(14) drops below 0. Despite these 2 things, the system will move all-in. I, on the other hand may deviate from my system and save some cash in reserve for some more possible weakness on Friday and/or Monday.
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4 comments:

  1. berlineMarch 22, 2012 at 2:59 PM

    J,

    Thanks for the early comment. Any chance for a "move to the sidelines" or is it 100% one way or another?

    ReplyDelete
  2. J-TraderMarch 22, 2012 at 3:59 PM

    No chance of a just a cover signal...

    ReplyDelete
  3. pv999999March 23, 2012 at 5:37 AM

    Do you ever consider the Buying on Weakness and Selling on Strength #'s?

    The BOW posted a big 492 million today.

    http://online.wsj.com/mdc/public/page/2_3022-mfgppl-moneyflow.html?mod=topnav_2_3000

    ReplyDelete
    Replies
    1. J-TraderMarch 23, 2012 at 9:07 AM

      I read Cobra's material and he follows and posts that info occasionally. My system doesn't use it, but I see all those block trades must've seen my tweet to buy if SPY was below 139.30. haha, kidding.

      Delete

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