Wednesday, January 05, 2005

Horse Races

The DJ-30 has closed lower than the prior close 6 days in a row.

The Nasdaq Composite and SP-500 have closed lower than the prior close 4 days in a row.

I have a few systems that trade these types of actions...one is kicking off on Thursday's open. But, I think this type of action is a blip. Not to mean it doesn't have some significance. Just mean to say, we need a few weeks to figure out what's going on in the longer term.

I read people everywhere rushing to form conclusions about this sell-off and what it means for 2005. It's too early to tell. This horse has just got out of the gate...and too many people are already picking winners and losers.

Last I checked, it took more than 3 trading days to make a year.

Daily System Updates

Received 2 more QQQQ long triggers for Thursday's market open from the following systems: VolSurgeDown & Harami. I've talked about the Harami system before. But, the VolSurgeDown system is a new one. It's based on three consecutive days where the close is lower than the prior close.

VolSurgeDown:
Win Ratio: 80.30%
Average Profit/Loss: +1.24%
Average Days Held: 3.30

Harami:
Win Ratio: 82.76%
Average Profit/Loss: +2.41%
Average Days Held: 6.72

Closed Positions at Wednesday's Market Open:
  • QQQQ (TrueRange) long position closed with a loss of -2.54%.
Current Open Positions:
  • WAG (BreakUp) long with current profit of +1.91%;
  • QQQQ (Tii100Low) long position with current loss of -0.36%;
  • QQQQ (BBLower) long position with current loss of -0.36%;
  • QQQQ (ATRBreakBB) long position with current loss of -0.36%;
  • QQQQ (TrueRVolume) long position with current loss of -0.36%.
Please read the disclaimer on the website. This is not a recommendation to buy, sell, or trade securities. Just a journal of my travels through Wall Street. I can buy, sell, or hold any positions mentioned on this website at anytime. So, be warned.

1 comment:

Dinesh Bharuchi said...
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