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Updated Close: The SPY Pro system went long at the close,
the trade list will be updated shortly on the website.
Updated 1545 EST: The SPY system needs a close below
$187.10 in order to take a long position.
Note this buy signal was from the shallow pullback version of
the system, sometimes it's early, but over time it's been fine.
Otherwise the other SPY systems remain in cash (SPY Ver 2 and
SPY RSI 2) and thus they need deeper pullbacks in order to take a
position, therefore if we get a deeper pullback you can use them to
average down. I generally think it's best to play all the
systems from a diversification standpoint.
Preliminary notification, if the market closes down enough today
the system may take a long, at this time looks like a price below
$187.10 would do it, however those numbers will change some before
the close, so I'll let everyone know later today.
What is the stop for the SPY Pro System?
Go to:mechanical sysTems>SPY Pro>Overview.
They describe the stop loss here.
that's just one stop loss of many, that stop loss is the
catastrophic stop loss, which the system has never hit, it's there
in case things totally far apart like an insurance policy.
The other stops are dynamic and self adjusting and for now
have always kicked in well before that.
systems like DVY use a very tight 4% stoploss, that's why I
suggest playing the other systems because they are good. SPY
RSI 2 uses a 9% stop loss
So, are we going long?
Yep I went long
the sticky post should be fairly obviously
also this is the shallow pullback entry
This was a very actionable update....thnx
The number for the SPY Pro system is now below $187.10 where the
system will go long, this may still change by a few pennies before
the close however.
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