The bottom line, the short-term trend is up. I hold long position overnight, slightly underwater.
The pullback today overlaps, so this does not feel like a start of something big, therefore I’ll assume it’s just a normal pullback for now. Granted, the rebound after gap down becomes weaker and weaker and today bulls even couldn’t fill the gap very much unlike what happened before, so if yet again we have another gap down open tomorrow, I’m afraid it might be a straight down day from start to end. On the other hand, we’ve had 5 consecutive gap down days so chances are not very high that yet another gap down day tomorrow though. Well, better not another gap down day…
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|
|SSO||02/11/2011||$52.87||100||$52.18||Try new method, will hold for awhile.|
|SSO||02/11/2011||$52.87||100||$51.78||02/11/2011||$53.36||49.00||Partial profit to lock SDS losses.|
|SSO||02/07/2011||$52.67||400||$52.10||02/07/2011||$52.84||68.00||Rare case for low risk entry.|
|SSO||02/01/2011||$51.03||50||$49.23||02/01/2011||$51.46||21.50||Partial profit to lock SDS losses.|