Friday, October 30, 2009

SPXU Stop Adjustment

Modify the GTC sell stop on the open SPXU trade to 42.95.

From some looking back at similar set-ups on the McClellan Oscillator, Sentimentrader.com suggested that today would be important in that if the market continued lower, that would suggest a weak market vulnerable and likely to experience further declines before a substantial rally. The converse would be likely as well - strength begetting future strength.

As I type the market is down significantly, so at this point I will just move the stop and hope for further weakness to benefit this trade.

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