The total list of executed trades has been updated in the link below (Those in pink are ongoing trades.)
Portfolio trades.xls
Last Friday marked the third day of a bounce. I opened two new short positions: WMT and QCOM when the RT monitoring system issued alerts.
We can see below that the discount chains sector of WMT turned into a long mode, which could force me out of the trade at some point.
I also opened a new XME short when I detected a negative divergence, but covered the short position when that negative divergence cancelled and the ETF looked ripe for a bounce. I was lucky to have booked a 2% gain on that day trade.
Below are the two RT Figures that I cropped at the entry/exit of the trades.
If you follow my emails, these Figures are attached as trade justification.
I also closed the long XLE and half of the long TOO position simply because oil "had bounced too fast."
As of now, the Portfolio is 10% long and 40% short.
Overnight, the S&P500 Futures have weakened and are pointing to a down gap at the open.
We will decide on the market direction by looking at US Treasuries and currencies.
As of now, there are only two possible long trades, mostly because the "short squeeze" is over and the list of strong stocks that have a rating higher than +80 (on a scale of -100;+100) is limited to three stocks:
http://www.effectivevolume.com/conte...e-best-ratings
My plan is to buy weakness and short strength, but since there are no real long candidates with good potential, if the market is very weak today I will probably rebalance the portfolio by buying some ETFs such as XLE or TNA for example and by tightening stops on the two short trades.
The SCTY short idea has been posted here:
http://www.effectivevolume.com/showt...827-SCTY-Short