Tuesday, June 23, 2009
SP500 Weekly Trade:
I am also going to add a weekly trade. One that does not require constant monitoring, but has specific trading rules for the coming week.
For this week the trade was: If the SP500 dips down to 894, then buy the SP500 if it goes back up above 903.50. If that trade is triggered, sell the position if the SP500 gets to 921.00.
Since we have been below 894 today, Monday, I will go long if the SP500 gets above 903.50. If the trade is not triggered by the close Thursday, I would cancel the trade for the week.
I am also going to add a weekly trade. One that does not require constant monitoring, but has specific trading rules for the coming week.
For this week the trade was: If the SP500 dips down to 894, then buy the SP500 if it goes back up above 903.50. If that trade is triggered, sell the position if the SP500 gets to 921.00.
Since we have been below 894 today, Monday, I will go long if the SP500 gets above 903.50. If the trade is not triggered by the close Thursday, I would cancel the trade for the week.
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