The
SPYSwing System will execute a
new Short position today at the close. We are
sending this alert out as early as possibly but with that we cannot
reference a specific price level but the SPY would have to
significantly retrace from current levels and likely would have to
close lower than today's low for the short signal to be
negated. With the current market being so NEWS oriented it is
not impossible for that to happen but currently does not seem like
the likely scenario. If there is a retracement later in the
day we will follow-up with exact price levels but otherwise you
should consider this the official trade alert.
This trade will represent 100% position for the Single entry
system and 40% for those following the Multi Entry. As always
please trade as you see fit.
We will send another alert ONLY if the alert changes.
Otherwise you should consider this alert the official
alert. As always we will also be answering questions
and making comments on the
SPYsection of the Trading
Community.
Regarding this current short trade, at this time the system is
not looking to hold the trade very long because the trending
indicator is positive, therefore odds favor this being a short term
trade per the system, we'll see....
Posted by frtaylor on 10th of Oct 2011 at 09:35 pm
Looking at your 5 min SPX chart, I hope it covers before we move
up in a wave 5 as your chart shows, since that mapping puts wave 5
waaay up there in the 1200's! Of course, it's only a mapping,
so we'll just have to see (as you always put it).
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Current Trade - Alert
Posted by tom on 10th of Oct 2011 at 11:46 am
10/10/2011:
The SPYSwing System will execute a new Short position today at the close. We are sending this alert out as early as possibly but with that we cannot reference a specific price level but the SPY would have to significantly retrace from current levels and likely would have to close lower than today's low for the short signal to be negated. With the current market being so NEWS oriented it is not impossible for that to happen but currently does not seem like the likely scenario. If there is a retracement later in the day we will follow-up with exact price levels but otherwise you should consider this the official trade alert.
This trade will represent 100% position for the Single entry system and 40% for those following the Multi Entry. As always please trade as you see fit. We will send another alert ONLY if the alert changes. Otherwise you should consider this alert the official alert. As always we will also be answering questions and making comments on the SPYsection of the Trading Community.
Hard to Borrow
Posted by bobhug on 10th of Oct 2011 at 04:19 pm
Did anyone else have a hard time selling shares short through thinkorswim at the close?
Bob
I don't have ThinkorSwim, but
Posted by matt on 10th of Oct 2011 at 09:24 pm
I don't have ThinkorSwim, but that seems extremely odd, the SPY is liquid as hell, maybe TOS had a bug on their end
I agree, But I had to
Posted by bobhug on 12th of Oct 2011 at 12:23 pm
I agree, But I had to call the trade desk and sell after the close.
Regarding this current short trade,
Posted by matt on 10th of Oct 2011 at 04:02 pm
Regarding this current short trade, at this time the system is not looking to hold the trade very long because the trending indicator is positive, therefore odds favor this being a short term trade per the system, we'll see....
Matt, Does that mean that
Posted by sschulman on 11th of Oct 2011 at 03:55 pm
Matt, Does that mean that there probably won't be a 2nd entry for this trade?
sschulman - the system will
Posted by matt on 11th of Oct 2011 at 09:42 pm
sschulman - the system will only do a second entry if the market rallies enough away from the first entry.
Looking at your 5 min
Posted by frtaylor on 10th of Oct 2011 at 09:35 pm
Looking at your 5 min SPX chart, I hope it covers before we move up in a wave 5 as your chart shows, since that mapping puts wave 5 waaay up there in the 1200's! Of course, it's only a mapping, so we'll just have to see (as you always put it).