Well guys, obviously the SPY RSI 2 system has a very nice trade
with this 'mega' gap up on the market triggered by the jobs data -
congrats to any of you who took the trade. Too bad the SPY
Pro and Ver 2 systems didn't take the trade, but that's why I have
3 systems. The market was down days in a raw and at some support
levels so technically a bounce is not surprising in this QE
addicted market.
Anyway regarding this trade at this time it looks like it's
going to be a really short term trade, if SPY closes over the 9 day
MA today, the system will sell it's long position, that was
established yesterday,
at the
closeof
today! Yes that's a really fast trade, but SPY is
currently up $1.67, so clear it's a nice one day trade if the
market holds up, of course it's the end of day closing that
matters. I will send a final notification later today.
Currently the 9 day SMA on SPY is $180.32 while SPY is trading
at $180.5, as long as SPY closes above this MA, it will exit the
trade today at the close. Here's a link to a daily chart so
that you can check it on your own
Nice trade Matt….I decided not to play it…..I have a rule not to
trade in front of high risk volatility events like Jobs & Fed
reports….been on the wrong side too many times…..banked short coin
at yesterdays close for this reason. Heavy POMO may be enough
to close this above 1800 today but I may wait to see how Monday
shakes out before trading SPY again.
for me personally, I would have been included to simply sell the
gap up on the open vs holding it since the system doesn't look like
it wants to hold the trade anyway, plus the high stopped right at
the 61.8% Fib
well see...
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SPY RSI 2 system update
Posted by matt on 6th of Dec 2013 at 09:46 am
Well guys, obviously the SPY RSI 2 system has a very nice trade with this 'mega' gap up on the market triggered by the jobs data - congrats to any of you who took the trade. Too bad the SPY Pro and Ver 2 systems didn't take the trade, but that's why I have 3 systems. The market was down days in a raw and at some support levels so technically a bounce is not surprising in this QE addicted market.
Anyway regarding this trade at this time it looks like it's going to be a really short term trade, if SPY closes over the 9 day MA today, the system will sell it's long position, that was established yesterday, at the closeof today! Yes that's a really fast trade, but SPY is currently up $1.67, so clear it's a nice one day trade if the market holds up, of course it's the end of day closing that matters. I will send a final notification later today.
Currently the 9 day SMA on SPY is $180.32 while SPY is trading at $180.5, as long as SPY closes above this MA, it will exit the trade today at the close. Here's a link to a daily chart so that you can check it on your own
CLICK HERE To view the chart
again nice trade, do what you feel is right, either follow the system or even if you exited the trade now, it would be a very nice one day trade
Matt, Is the DVY system still remaining
Posted by blevins76 on 6th of Dec 2013 at 02:47 pm
Matt,
Is the DVY system still remaining long?
nice trade
Posted by mark109 on 6th of Dec 2013 at 10:15 am
Nice trade Matt….I decided not to play it…..I have a rule not to trade in front of high risk volatility events like Jobs & Fed reports….been on the wrong side too many times…..banked short coin at yesterdays close for this reason. Heavy POMO may be enough to close this above 1800 today but I may wait to see how Monday shakes out before trading SPY again.
ha but but you didn't
Posted by matt on 6th of Dec 2013 at 10:33 am
ha but but you didn't take the last trade either from what I remember
for me personally, I would
Posted by matt on 6th of Dec 2013 at 10:48 am
for me personally, I would have been included to simply sell the gap up on the open vs holding it since the system doesn't look like it wants to hold the trade anyway, plus the high stopped right at the 61.8% Fib
well see...