THE SHORT-TERM MODEL BELIEVES THE TRND IS DOWN HOLDING BOTH LONG (TRAPPED) AND SHORT OVERNIGHT
The bottom line, I believe the selling isn’t over yet.
The long position held by Cobra Impulse System was stopped today with losses. The system will try to short SPY tomorrow if break below today’s low and close in red.
December 14, 2011 at 6:38 pm
Cobra, what our frogs should do with our trapped long position right now?
1. Shall we wait for the Santa rally mentioned in your 12/9 report?
or
2. Shall we leave the market entirely just like the impulse system did?
Thanks!
December 14, 2011 at 6:46 pm
I would say sell half the positions. That way your cut your losses in half, and give away half the profits.
December 14, 2011 at 7:12 pm
Thanks, Bro!
December 14, 2011 at 7:06 pm
I don’t have the answer. It depends on your position, time frame and experiences.
If you’re intermediate-term and not experienced:
if you didn’t lose much yet, then you can out half at least to reduce your risks.
if you’ve suffered huge losses, I think you can bet the Santa Rally because you have not much choices.
Officially the intermediate-term chart is not bad yet, I just know there’s more on the downside in short-term.
December 14, 2011 at 7:12 pm
Thanks, Cobra!
December 14, 2011 at 6:53 pm
Hi Cobra,
RSP:CPCE, NYSI & BPNDX are all showing sell on the NonStop.
December 14, 2011 at 7:15 pm
Yeah, but RSP:CPCE may need wait for tomorrow in case it’s a whipsaw because the crossover is not marginal, I think.
December 14, 2011 at 7:51 pm
Update
NQ http://99ercharts.blogspot.com/2011/12/nq_14.html
It ain’t over.
December 14, 2011 at 9:10 pm
Double 9er. Thank you for your endless work. It is very appreciated by me. I also think you are very correct. jimme
December 14, 2011 at 10:15 pm
Honey. Where are my skis?
December 14, 2011 at 10:45 pm
test
December 14, 2011 at 10:49 pm
test image
December 15, 2011 at 12:25 am
nice image.
December 14, 2011 at 11:37 pm
Being relatively new to this, I have a question about the Impulse System. In the “Getting Started” section, Cobra says that the system doesn’t have targets but only stops. How, then, does the system end a trade? One way, clearly, is by being stopped out. But, does it close a position in ways other than being stopped out? In other words, does it sell a long or cover a short via any mechanism other than a stop being hit?
December 15, 2011 at 12:24 am
It only uses stop to be out. You have to decide by yourself when to take partial profits.
December 15, 2011 at 4:01 am
Thanks, Cobra. However, I find myself a little confused.
What are the backtested results based on? I see “cover” and “sell” on the CIS chart. Those can’t all be instances of being stopped out.