remember even though today is nice so far, the trade is not
over, so don't count your money yet, unless you happen to sell
early or something. Anything can still happen and the trade
could still be a losing trade if the market sold off next week
etc.
Otherwise if the market can hold up and SPY can
close above about
$135.5,
then that system will close out this long position! However
it won't close it out today, it would do so on Monday on the open!
Remember that longs are exited on the open of the next day after
the sell condition is generated and today closing over about $135.5
would generate the sell condition.
hmmm.....to bad, SPY was over that 135.4 - 135.5 area today for
a while, would have been nice to close over it and close out the
trade, oh well things can still change since there just over 3.2
hrs, however the pullback after the gap up on a Friday is
typical.
if the reverse had happened and the market gapped down, I think
the gap would have been bought
Posted by onefourdroopy on 6th of May 2011 at 12:17 pm
I couldn't help myself I sold the SSO this am on the gap open
and very very happy with the trade with the first trade and in
cash. I know its not part of system to sell out early, but a
2.5% profit overnight is hard to pass up. never go broke taking
profit.
scott
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SPY system comments
Posted by matt on 6th of May 2011 at 11:57 am
remember even though today is nice so far, the trade is not over, so don't count your money yet, unless you happen to sell early or something. Anything can still happen and the trade could still be a losing trade if the market sold off next week etc.
Otherwise if the market can hold up and SPY can close above about $135.5, then that system will close out this long position! However it won't close it out today, it would do so on Monday on the open! Remember that longs are exited on the open of the next day after the sell condition is generated and today closing over about $135.5 would generate the sell condition.
when to buy on the multi the next 20 %
Posted by breck123 on 6th of May 2011 at 12:56 pm
Matt when would one buy on the multi the next batch of 20.
hmmm.....to bad, SPY was over
Posted by matt on 6th of May 2011 at 12:44 pm
hmmm.....to bad, SPY was over that 135.4 - 135.5 area today for a while, would have been nice to close over it and close out the trade, oh well things can still change since there just over 3.2 hrs, however the pullback after the gap up on a Friday is typical.
if the reverse had happened and the market gapped down, I think the gap would have been bought
Post Potential Targets
Posted by river on 6th of May 2011 at 02:39 pm
I couldn't help myself I
Posted by onefourdroopy on 6th of May 2011 at 12:17 pm
I couldn't help myself I sold the SSO this am on the gap open and very very happy with the trade with the first trade and in cash. I know its not part of system to sell out early, but a 2.5% profit overnight is hard to pass up. never go broke taking profit.
scott