I'll be tracking a countertrend strategy I've come up with. I'll be using the S&P cash index. Positions will be held for a few days to a couple of weeks. Disaster stop is 20 points. Dynamic stop is 10 points but moves enough so that I won't be posting it. All trades are hypothetical. There is no real money involved in this.
Stopped out at 1416.87 Profit: -20 points Max open loss: -20 points But I got another short signal so I'm short from 1416.64
Still short. Current market conditions are like they were in late December '07 right before the market plunged. There's widespread acceptance of the bullish narrative. This is set to unravel. We'll see lower than 1310 on the S&P within 4-6 weeks. I'll be long or short during this time depending on what short term traders are doing. As the market turns away from risk, the carry trade will suffer. Aud/Jpy will plunge over the next 4-6 weeks.