The system went long HANS at yesterday’s open.
Today the system will buy another dip, purchasing AMAG on the open. A 10% stop will be used.
No time this morning to post a chart. So sorry.
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Dr. Woodshedder,
You buying this dip?
I’ve been hitting a really bad spell lately…I was net short on Monday, then had to endure that short squeeze only to immediately covert my positions to net long.
I thought Mondays tape was extremely bullish breaking all sorts of resistance. Then Wednesday’s tape on giving up 100+ rally, makes me say..hmmm…
My target is some sort of test of the 200EMA for the SP500.
Mike, I’ve got two longs, HANS and AMAG and closed two shorts out a few minutes ago.
Volume is the tell. Go back and look at the volume on the SPY, especially on the big day that had you covering and going long. It was non-existent.
I think the target is likely the 50 day average, just my opinion.