My overnight message was unclear. TOT daily traders come into today’s session 200% short. I recommend going an additional 100% short at SPX 2103 stop, bringing the total position to -300%. If the SPX advances to 2106 before declining to 2103, raise the entry sell stop to SPX 2104. And for each additional 2 point advance, raise the entry sell stop by an equivalent 2 points. Once short, use a 1% protective buy stop on the ENTIRE 300% position, basis the price on the new 100% part. If still short as we approach the close, cover the short on the close and simultaneously go 100% long (carrying the long position overnight and into Friday), as it is close to a certainty that the news-neutral daily model will be bullish on Friday regardless what the market does today.
Thanks for the opportunity to be of service, and I’ll email you again in 16 hours – or sooner if circumstances warrant.
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