the system is calling to be on the short side tomorrow if the spx closes above 915.73.
One might think that could happen (market retracing) as the market participants have been waiting for the bank announcement tomorrow (thinking it will be negative) and we have been on a tear recently..... a lot of traders have been anticipating a pullback for some time, but there is a lot of money on the sidelines trying to pick a spot to re-enter; so lately it has not been good for short term profits to be short. If the system calls for short or long I will go at 1x.
Ended mostly short in my accounts for tomorrow.
Wednesday, May 6, 2009
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