THE TREND IS UP AS PER SHORT-TERM MODEL, HOLDING SHORT POSITION OVERNIGHT
The bottom line, today is the weakest follow-through I’ve seen since the Aug 9 lows, bulls need show more strength tomorrow otherwise the rebound might not go very far.
So the question is, will we see a renewed strength from bulls tomorrow? As of now, I’m a little skeptical, because TICK closed above 1,000 again today which means more likely no big up tomorrow if not red.
![2 2](http://lh6.ggpht.com/-eF7OL3mVXTM/Tm_DbH4S5jI/AAAAAAAALqA/1ASS7cfYzEw/2_thumb.png?imgmax=800)
The short setup of the Cobra Impulse System wasn’t confirmed today but the system will try to sell short again tomorrow, see table below for more details.
![1 1](http://lh6.ggpht.com/-m-dbnasuQ0U/Tm_Db1Bj0oI/AAAAAAAALqI/OEqJJ3zATb0/1_thumb%25255B1%25255D.png?imgmax=800)
MECHANICAL TRADING SIGNALS |
SPY SYSTEM |
ENTRY |
STOP LOSS |
Current 2*ATR(10) value: SSO=11%; SDS=11%; UPRO=17%;SPXU=16% |
Non-Stop |
08/25 L |
N/A |
Long is risky when long term signals are on the sell side. |
Cobra Impulse |
09/07 L |
1.7*ATR(10) |
*Short if below 09/13 low and close red tomorrow, stop loss = 2*ATR(10). |
|
DEMO ACCOUNT FOR SHORT-TERM MODEL (Attention: This is not part of Cobra Impulse System) |
TICKER |
Entry Date |
Entry |
Share |
Stop Loss |
Exit Date |
Exit |
Profit |
Comment |
SSO |
09/13/2011 |
$40.51 |
50 |
$35.65 |
09/13/2011 |
$40.88 |
18.50 |
|
SDS |
09/13/2011 |
$24.03 |
100 |
$21.39 |
|
|
|
|
SDS |
09/02/2011 |
$24.35 |
100 |
$21.43 |
09/13/2011 |
$23.48 |
3.00 |
|
SDS |
09/01/2011 |
$22.94 |
100 |
$19.96 |
09/01/2011 |
$23.01 |
7.00 |
|
SSO |
08/30/2011 |
$44.09 |
50 |
$38.69 |
09/12/2011 |
$38.69 |
-270.00 |
Gap down, manual stop loss used. |
LAST |
|
|
|
|
|
|
2935.00 |
|
SUM |
|
|
|
|
|
|
2693.50 |
|
|
- $300 max loss allowed per trade. For fun only.
- LAST = Year to the last month balance. SUM = Year to date realized gains/losses.
|