FYI the SPY Pro system is going long at the close. Just an
FYI, this is a very aggressive long trade and the system hasn't had
a losing trade in a long time, thus decide if you wish to take this
trade or not - I simply report the trades.
The other two systems on the website: The SPY Ver 2 and SPY RSI
2 systems are not taking a long trade, we need a much deeper
pullback in order for those systems to go long. I will
discuss this in tonight's newsletter
the signal went away the last 5
seconds of the day - generally it's not this close, but once in a
while this can happen, sorry about that, I can't help what the
market does and sometimes it comes down to the wire. In fact
the buy signal only showed up the last 7 min of the day, so I had a
hard time sending the alert out before the close - so it was tight
all around
I received a few emails issuing some complaints about the signal
late in the day, again as I covered already, most signals won't be
this down to the wire, even if you don't receive the signal until
near the close or you don't see it for some reason because of your
job and you are in a meeting until well after the market closes,
that's fine, you can always enter the trade in after hrs trading.
SPY is extremely liquid, it trades with 1 - 2 cent penny
spreads in after hrs trading up to 4 hrs after the market closes -
this means that you can take a trade until 8 PM EST, the market
closes at 4 pm, you can make a trade up to 4 hrs after the
close.
Seems a bit of "drama-queen" for folks to whine over the timing,
before or after the close.
Especially the day after Matt improved point-performance by 40%!
Check & see 4 yourself.
Tad51has a great point. Perhaps this is a workable
approach, like this:
"If SPY closes at or above/below
$180.xx, then a LONG signal will issue at the close. Trade if and
how you see fit. Trades can be entered before the close if or as
one is confident of the price-target for the signal will be
achieved."
While this is a small amount of effort, it is still easier than
predicting the future.
Posted by pimacanyon on 2nd of Dec 2013 at 04:34 pm
Hi Matt,
I'd suggest that you send an official notification about the SPY
Pro system after the close. If you want to warn us that the
system MAY take a long at the close, that's great, but you would
then follow up with another email after the close to confirm that
it took a long position or to let us know that it did NOT take a
position.
To keep things simple from your side, I have no problem
with ONLY ONE official notification, which of course will have to
be AFTER the close. As you've noted, we can trade SPY during After Hours
trading until 8PM Eastern Time.
thanks, I agree that it would be MUCH easier for me and then we
don't have to worry about the change in signal that can occur.
In fact when I trade the system, most of the time I enter the
trade in after hrs anyway
However I will get complaints from folks who say that they can't
trade the system because their retirement accounts won't allow them
to, or some guys like to buy Rydex funds and you have to submit
your order before the close. However my thought is that if
you are really serious about following the system, just open a
normal trading account. Heck, even my IRA retirement account
I can do after hrs trading.
so I would love to change the format to sending the signal after
the close, would be 10 times easier for me, and like I said, I can
send an intra day email to let you know that there is potential for
a trade, but the official signal comes after the close
I am one of those subscribers who do trade mutual funds and
would have to trade prior to the market close. So an intra
day email to let one know of a potential trade would be fine with
me. Just give the parameters and I could follow it for the
rest of the day and the decision is mine whether to enter the trade
or not.
Posted by pimacanyon on 2nd of Dec 2013 at 04:38 pm
To be clear, I would much rather have an official notification
that I know I can take a position on than to have one (before the
close) that might might have to reverse. Today I bought based
on your first email and now I will have to sell that position.
So I vote for
simplicity: Send out the notifications ONLY after the
close. That way all of us will know that it's
official. (The system cannot change its mind after the
close!)
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SPY Pro system is taking a long at the close
Posted by matt on 2nd of Dec 2013 at 03:57 pm
FYI the SPY Pro system is going long at the close. Just an FYI, this is a very aggressive long trade and the system hasn't had a losing trade in a long time, thus decide if you wish to take this trade or not - I simply report the trades.
The other two systems on the website: The SPY Ver 2 and SPY RSI 2 systems are not taking a long trade, we need a much deeper pullback in order for those systems to go long. I will discuss this in tonight's newsletter
FYI - the SPY system
Posted by matt on 2nd of Dec 2013 at 04:03 pm
FYI - the SPY system did NOT go long!!!!!
the signal went away the last 5 seconds of the day - generally it's not this close, but once in a while this can happen, sorry about that, I can't help what the market does and sometimes it comes down to the wire. In fact the buy signal only showed up the last 7 min of the day, so I had a hard time sending the alert out before the close - so it was tight all around
I received a few emails
Posted by matt on 2nd of Dec 2013 at 04:30 pm
I received a few emails issuing some complaints about the signal late in the day, again as I covered already, most signals won't be this down to the wire, even if you don't receive the signal until near the close or you don't see it for some reason because of your job and you are in a meeting until well after the market closes, that's fine, you can always enter the trade in after hrs trading. SPY is extremely liquid, it trades with 1 - 2 cent penny spreads in after hrs trading up to 4 hrs after the market closes - this means that you can take a trade until 8 PM EST, the market closes at 4 pm, you can make a trade up to 4 hrs after the close.
Seems a bit of "drama-queen"
Posted by cubby on 2nd of Dec 2013 at 05:47 pm
Seems a bit of "drama-queen" for folks to whine over the timing, before or after the close.
Especially the day after Matt improved point-performance by 40%! Check & see 4 yourself.
Tad51has a great point. Perhaps this is a workable approach, like this: "If SPY closes at or above/below $180.xx, then a LONG signal will issue at the close. Trade if and how you see fit. Trades can be entered before the close if or as one is confident of the price-target for the signal will be achieved."
While this is a small amount of effort, it is still easier than predicting the future.
SPY Pro System Notification suggestion
Posted by pimacanyon on 2nd of Dec 2013 at 04:34 pm
Hi Matt,
I'd suggest that you send an official notification about the SPY Pro system after the close. If you want to warn us that the system MAY take a long at the close, that's great, but you would then follow up with another email after the close to confirm that it took a long position or to let us know that it did NOT take a position.
To keep things simple from your side, I have no problem with ONLY ONE official notification, which of course will have to be AFTER the close. As you've noted, we can trade SPY during After Hours trading until 8PM Eastern Time.
I concur with pimacanyon. Once
Posted by arkgirl on 2nd of Dec 2013 at 05:40 pm
I concur with pimacanyon. Once after the close is enough......and less confusing when it goes down to the wire like today.
thanks, I agree that it
Posted by matt on 2nd of Dec 2013 at 04:38 pm
thanks, I agree that it would be MUCH easier for me and then we don't have to worry about the change in signal that can occur. In fact when I trade the system, most of the time I enter the trade in after hrs anyway
However I will get complaints from folks who say that they can't trade the system because their retirement accounts won't allow them to, or some guys like to buy Rydex funds and you have to submit your order before the close. However my thought is that if you are really serious about following the system, just open a normal trading account. Heck, even my IRA retirement account I can do after hrs trading.
so I would love to change the format to sending the signal after the close, would be 10 times easier for me, and like I said, I can send an intra day email to let you know that there is potential for a trade, but the official signal comes after the close
Spy Signal
Posted by tad51 on 2nd of Dec 2013 at 06:46 pm
Hello Matt,
I am one of those subscribers who do trade mutual funds and would have to trade prior to the market close. So an intra day email to let one know of a potential trade would be fine with me. Just give the parameters and I could follow it for the rest of the day and the decision is mine whether to enter the trade or not.
SPY Pro System Notification suggestion
Posted by pimacanyon on 2nd of Dec 2013 at 04:38 pm
To be clear, I would much rather have an official notification that I know I can take a position on than to have one (before the close) that might might have to reverse. Today I bought based on your first email and now I will have to sell that position. So I vote for simplicity: Send out the notifications ONLY after the close. That way all of us will know that it's official. (The system cannot change its mind after the close!)