Cobra's Market View Private Messaging System shows:
The bottom line, the short-term trend is down. I hold partial short position overnight.
Yes, this feels like the 2nd leg down I’ve been blah blah has started, the question is whether it’s completed or has more to go? Well, the general rule of thumb is that as long as we’re still one Earth (which as a Martian being witnessing you Earth magic called POMO for quite a time, I really doubt) the law of inertia should apply, so a strong down push like today is unlikely just single legged, therefore chances are good that the initial rebound would fail and the 02/24 lows get tested (either lower low or higher low) before the 2nd down leg is over.
Demo account for short-term model, $200 max loss allowed per trade. Mechanical trading signal, for fun only.
|TICKER||Entry Date||Entry Price||Share||Stop Loss||Exit Date||Exit Price||Profit||Comment|
|SDS||03/01/2011||$21.37||200||$20.62||03/01/2011||$21.76||78.00||New strategy, half positioned.|
|SSO||02/28/2011||$53.09||100||$52.20||03/01/2011||$53.69||60.00||New strategy, half positioned.|
|SDS||02/22/2011||$21.05||300||$20.62||Trying new strategy, so still hold.|