Good morning everyone, as you saw from my newsletter and blog post last night the SPY breakout sub system went long yesterday but was not sent out due to a technical issue. Therefore I'm issuing the order for this morning as futures are slightly down from yesterday's close. Out of the 21 sub systems for the SPY the breakout sub system is the only one that is NOT reversion to mean, it buys overbought conditions, that's what it does by it's nature and hence its name.
The trade order will be for $10K worth of SPY ETF and 1 SPY call option that expires on June 18th with a strike price of 398.
Again this order is for today, since it's not for the close feel free to use your own judgement on when to actually take the trade. For example if you think the market will pullback more over the course of the day then wait - that's subjective and up to you but I'm simply throwing out options.