THE SHORT-TERM MODEL BELIEVES THE TREND IS DOWN, HOLDING SHORT POSITION OVERNIGHT
The bottom line, I’m more worried about our server crash problem than the market crash or huge down in the following one and half trading days.
SPY down 5 days in a row, buy at today’s close and hold until the very first green day, you’d have 83% chances. Just the draw down sometimes is very huge, so be prepared. I don’t believe you need turn off the computer this time though because the volume tomorrow and half day Friday will be very thin, selling into this kind of thin volume would be very expensive, so unless something really really bad happens, I don’t think we’d down much from here if not up, after all, it’s Thanksgiving.
Cobra Impulse System opened a short position today therefore officially is in downtrend now.
November 22, 2011 at 5:54 pm
thx,ding
November 22, 2011 at 7:53 pm
BPNYA down 2.77%, BPCOMPQ down 1.89%, BPOEX down 1.69%, BPNDX down 3.77%, BPSPX down 1.75%, BPINDU flat. BPSPX just above strong support at 55, but support can be broken. BPNYA chart looks more bearish.
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