The bottom line, the short-term trend is up. I hold long position over the weekend (new strategy, always hold).
I think the chances for a red Monday is pretty high but the chart pattern looks like a typical consolidation before an upside breakout, so my guess is we may see another gap up the next Monday but the gap would be filled and the day eventually closes in red.
Unfortunately, the short position entered following Cobra Impulse System signal was stopped out today. The system is still in sell mode so if you also have position following the “buy & hold” mode then you can still hold the short position until the system is confirmed in buy mode. The “buy & hold” mode had only 56% winning rate though as it relies heavily on a few long lasting trend to earn money which is very typical of a trend following system.
Enjoy your long weekend!
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||04/20/2011||$53.62||100||$51.50||New strategy, always hold.|
|SDS||04/07/2011||$20.71||400||$20.46||04/08/2011||$20.86||60.00||Against trend 1st time, half positioned.|