Cobra's Market View Private Messaging System shows:
The bottom line, the short-term trend is down. I hold both long and short overnight.
As mentioned in the intraday comment, I don’t feel good about tomorrow at least in the morning, but the setups I have to report are pretty bullish going forward. Again, this report has nothing to do with what I really believe, but past patterns and statistics, so make your own decisions wisely.
As mentioned in the last night report, SPX down 4 days in a row, buy at close then sell tomorrow at close, you’ll have 74% chances since year 2003.
A few TradingMarkets setups have been triggered again, all claimed to have above 80% winning rate. I personally didn’t verify their claims though.
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||04/12/2011||$21.30||200||$20.45||New strategy, always hold.|
|SSO||04/11/2011||$53.16||100||$51.57||Not sure, speculation play.|
|SDS||04/07/2011||$20.71||400||$20.46||04/08/2011||$20.86||60.00||Against trend 1st time, half positioned.|