The call is to stay long if the rut closes below 527.0.
Will go to 1.25x and trade rut.
If the current trend continues will be short for tomorrow.
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About Me
- Forecaster
- I originally developed this stock market timing system to trade leveraged mutual funds within a retirement account. It appeared that traditional "buy and hold" strategies would not generate the returns I desired in the time frame I needed. I wanted a mechanical trading system that took the emotion out of making decisions about the future moves of the markets. This system gives a "end of day" call for the next days market direction. On some days it requires some input from the trader as the signal may be dependent on the closing price of a particular index. It can be traded using etf's or mutual funds. This blog is for entertainment purposes and to track the development of this system. It is not intended to be used as advice. Use at your own risk!
I am biased for a partial Short position for tomorrow (Friday).
ReplyDeleteFeel we are in a tight trading range,..limited downside as well as limited upside. Two reasons I am biased for lower on Fri are: 1. First two trading days in June are biased UP. 2. Seasonal weakness for next few days.
But recent Mondays have been strong,..we have had big UP moves on recent Mondays,..something to keep in mind for Friday's close.
Anyhow,..have a good day.
Regards, Jim
Thanks for the input...I am thinking along those lines...but will follow my systems calls...let,s see what it comes up with for Monday.
ReplyDeleteAlso,..meant to mention,..NYSE cumulative TICK Intraday reached overbought level with today's rally,..another reason I am partial short for Friday.
ReplyDeleteInteresting reading:
http://online.barrons.com/article/SB124404271987981539.html#mod=BOL_hpp_dc
Regards, Jim P.
Hi Forecaster,
ReplyDeleteThanks for your feedback yesterday.
I must say i do like the simplicity of your system.
Although it gives forecast for the next day, does your system provide any clue for direction for coming week?...reason i ask is i think were close to a turn early next week and just wanted to see what your thoughts were?...your views/comments greatly appreciated.
thanks
JP
No It is a very short term signal and not designed for longer term trends tho it could be adapted for such...Just a lack of time to do everything.
ReplyDelete