Yes the multi entry system added to it's existing long entry
today at the close (another 20%), I think that has only happened
one time in the past on the same day the an exit position was also
generated.
HOWEVER the system will still sell the entire position tomorrow
on the open.
So in short, the multi entry system scaled into another 20%
today for a 60% total. The single entry system did nothing of
course.
However both the signal
and multi entry systems will be selling their long positions
tomorrow on the market open.
If you were trading the single entry system, then there was
nothing for you to do. If you were trading the multi entry
system, you would have scaled into another 20%. However no
matter which version you are trading, you would exit the position
tomorrow on the open.
Matt had no need to comment further. His 4:10 instructions are
crystal clear and complete. If you are long anything, sell on
tomorrows open. If the crystal clear instructions for
multi-pointers was to buy an additional 20% on today's close and
sell all on tomorrow's open, why does Matt have to comment that the
trade is overnight? Isn't that patently obvious? He showed us
awhile ago that more market movement happens after hours than
during hours.
There was no trade in the AH - not sure where you are
seeing that. If you were in the multi system, you would have
bought right at the EOD, since it was obvious that that SPY would
close below 133.48. Matt posted his sticky above at 3:42pm,
so not sure where the confusion is with this.
Posted by ccsincsd on 16th of May 2011 at 07:11 pm
pebs. Like Matt has said, you buy it on the close if you
can, or you buy it in AH all the way up till 8pm est (for those
that can't trade till they get home from work). So, some
members will be buying in AH. The SPY system is designed for
that.
And then we are instructed to sell this trade on the open
tomorrow morning.
This trade will never see the light of day on the regular hours
US exchange.
Yes, his message is perfectly clear. I've got no
confusion. I just think he should have commented on the fact
that this is a AH trade (hold) only.
Clarification.
Posted by matt on 16th of May 2011 at 04:10 pm
Yes the multi entry system added to it's existing long entry today at the close (another 20%), I think that has only happened one time in the past on the same day the an exit position was also generated.
HOWEVER the system will still sell the entire position tomorrow on the open.
So in short, the multi entry system scaled into another 20% today for a 60% total. The single entry system did nothing of course. However both the signal and multi entry systems will be selling their long positions tomorrow on the market open.
If you were trading the single entry system, then there was nothing for you to do. If you were trading the multi entry system, you would have scaled into another 20%. However no matter which version you are trading, you would exit the position tomorrow on the open.
Crystal Clear, Mon Capitan
Posted by dougmil on 16th of May 2011 at 10:42 pm
Matt had no need to comment further. His 4:10 instructions are crystal clear and complete. If you are long anything, sell on tomorrows open. If the crystal clear instructions for multi-pointers was to buy an additional 20% on today's close and sell all on tomorrow's open, why does Matt have to comment that the trade is overnight? Isn't that patently obvious? He showed us awhile ago that more market movement happens after hours than during hours.
May 16th Signal(s)
Posted by ccsincsd on 16th of May 2011 at 04:46 pm
I can't believe that Matt (the SPY Swing System) really intends for us to trade the SPY in the After Hours and Overnight time period only.
Matt, if you wrote exactly what you intended in your 04:10pm message, then you should have confirmed that quirk.
Crystal clear...
Posted by burkmere on 16th of May 2011 at 04:52 pm
His 4:10 message was crystal clear.
There was no trade in
Posted by pebs on 16th of May 2011 at 04:52 pm
There was no trade in the AH - not sure where you are seeing that. If you were in the multi system, you would have bought right at the EOD, since it was obvious that that SPY would close below 133.48. Matt posted his sticky above at 3:42pm, so not sure where the confusion is with this.
pebs. Like Matt has said,
Posted by ccsincsd on 16th of May 2011 at 07:11 pm
pebs. Like Matt has said, you buy it on the close if you can, or you buy it in AH all the way up till 8pm est (for those that can't trade till they get home from work). So, some members will be buying in AH. The SPY system is designed for that.
And then we are instructed to sell this trade on the open tomorrow morning.
This trade will never see the light of day on the regular hours US exchange.
Yes, his message is perfectly clear. I've got no confusion. I just think he should have commented on the fact that this is a AH trade (hold) only.
Perfect explanation. thanks
Posted by randy on 16th of May 2011 at 04:31 pm
Perfect explanation. thanks
Thank you Matt - that
Posted by pebs on 16th of May 2011 at 04:18 pm
Thank you Matt - that is crystal clear.
perfect matt, thanks.
Posted by Michael on 16th of May 2011 at 04:31 pm
Scaled in the second entry, now we hope for a bounce to sell into at the open!
Yup, hoping for a nice
Posted by pebs on 16th of May 2011 at 04:36 pm
Yup, hoping for a nice gap up at the open