I know the mean reversion systems are structured to be triggered only only closing prices. However, Matt provided the conditions for a close so I don't see why you wouldn't execute intraday unless you have another job that precludes you from seeing an alert.  I often close out of the trade intraday only to see it pull back and stay long with a 2nd entry. At that point it's just gravy for me so I enter again with a 1st entry size. Look back at the history and you'd be surprised how many times you would have been able to close out quickly if you tracked the close out condition and executed intraday (in this case, Matt said it was the 8 day SMA). Again, fair enough if you can't do this because you have another job. But for those that can....why wouldn't you?

Personally, I think if you get an actual close above the 8 day SMA vs just a touch, that's probably a good trade to hold vs take profits....and I think that has played out many times with these trades, especially recently.