Current SPX Position: Long at 1506.15
Next Action: Stop at 1495.01
System Score: 9=Bullish=Trend Score + Turn Score=7+2
The previous short trade was stopped out for a 20pt profit at 1506.15 where the System went long. The System has now reached its high water mark of 150pts of profit after 35 trades (22 long, 13 short) over exactly 6 months for an annualized unleveraged uncompounded profit of 20%+ and a 52% win percentage. Not too shabby. SPX is up 74pts during the same time period, and the System has only been invested about 3/4 of the time. Of course, you know it is my belief that 2013 and 2014 will be tough years for the stock market, so I expect the System to continue building profits while SPX loses all of its profits from August 20th 2012 and then some.
Currently, the Score is bullish and expected to get more bullish on Friday and possibly into Monday. However, once hourly indicators can get reasonably overbought again with price dipping below the 20dSMA (1510-1512), watch out below. In the mean time, indicators allow for a sizable bounce or consolidation for 1-3 days, but I think there are more surprises to the downside into March. Good luck.
No comments:
Post a Comment