Cobra's Market View Private Messaging System shows:
The bottom line, the short-term trend is down, not confirmed though. I hold long position over the weekend for speculation play only.
I have no idea about the next Monday, but I think it should mean something for having 8 consecutive reversal like bars if candlestick pattern can be of a little use for the actual trading. Other than this, although I feel bearish but the truth is, at least at the very first glance, I don’t see any more bearish evidences yet (Except, perhaps oil? But it seems nobody cares about the gas price. Guess, everybody likes me who drives compact Japanese car and don’t travel at all for almost 4 years?). On the other hand, I know some still remember “very bullish Bearish Engulfing”. Well, today is not a Bearish Engulfing because yesterday was a down day.
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|
|SDS||04/07/2011||$20.71||400||$20.46||04/08/2011||$20.86||60.00||Against trend 1st time, half positioned.|