Been short for 10 days. And i`ll tell you this, that early rally before the dump yesterday had me a little concerned. I could have fried an egg on my face. Even after years at this game I still get emotional. But the difference is I dont react to the individual emotions anymore. They get recognized, acknowledged and filed away for review. SPY closed @ 129.22 Indicator closed @ -0.040179 Slightly negative sentiment. But no where near a proper FEAR cover/go long signal.
Around 3:30 yesterday I got a major SELL. GnF Indicator was sticking up like a scared cats tail @ .71 and 1st std dev was @ .63..while the SPY was trading @ 130.40. I`m thinking this market is like a zombie in a George Romero flick.
imho sentiment indicators dont work well on the upside. maybe they let it sell off after eoq markups.
Maybe. It would have been a great counter trend punt from 130.40 to the close @ 130.03. I may start taking some of the more extreme signals intraday. Will update journal accordingly. Thanks for your opinion
Gonna give this one shot to test her out intraday. Short Q`s @ 42.17..GNF indicator is @ .778 std dev @ .64 42.27 stop 41.97 tgt
Still short and holding at day 12. The two previous posts are why I personally dont day trade. I`m horrible at it and only lose money. Even though my indicator topped ticked the market for the day I still lost a .10. Funny thing is the HOD in the Q`s was .30 and my stop was .27. The longer I trade the more I look forward to weekends. Not because i`m tired of the markets though. I dont know about you guys/gals but by then my eyes are so tired of looking at screens its a welcome relief. Happy Friday to you and good trading.
Day 13 short. Seems to me a line in the sand has been drawn at 1310/131.00. My system has me short so I shall stand pat until signaled otherwise. We will see... Fun facts = My journal officially started on the day I posted the first trade here. 2/27/06 the SPY closed @ 129.46. Last nights close was 129.73. So a "buy and hold" of the SPY would have yielded a +.0021% gain. So far i`m up +.0374%. A .0353% beat. Of course that can all change in a NY minute! Good trading to you!
Position stands as above. A very interesting day for me. Even with the Naz and SPX going for new highs my indicator is not very Bullish. Its strong but not overwhelmingly. Yet anyway, the day is young. On a personal note. Anybody hiring? I`m about ready to quit my day job. ugh....
Day 16 which is an eternity for me. Funny thing is I have never once questioned my position. And the fact that i`ve taken little pain tells me i`m most likely on the right side with this one. But as always i`ll remain flexible and take signals/stops as they come to me. Once in a position all I can really do is let it happen. Thats my style anyway. In the past when I over think an existing pos is when I do something stupid like exit early because I talk myself out of it. In fact my most profitable trades are when I set a stop and tgt and walk away. Thats it....let the PnL talk. Good trading to you