Cobra's Market View Private Messaging System shows:
The bottom line, the short-term trend is up. I hold long position over the weekend.
I have no idea about the next Monday but according to Sentimentrader, the seasonality is bearish for the next week:
In the history of the S&P SPDR (SPY), the last week in March has been positive only 5 out of 16 years. 4 of the last 5 were negative (last year showed a gain of a whopping +0.1%).
And don’t forget my chart about the negative last 2 trading days of the month since the August 2009.
On the other hand, we’ll have a very strong up day for the first trading day of the April.
My plan is still to buy the very first dip and I still expect that the 03/16 lows will be revisited before a new high. I’ll present my witnesses in the weekend report, but for now the most important thing is to enjoy your weekend!
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|
|SSO||03/25/2011||$52.29||100||$50.97||03/25/2011||N/A||N/A||No guts to take the trade.|
|SDS||03/14/2011||$22.01||200||$21.02||03/15/2011||N/A||N/A||Network problem, didn’t take the trade.|