SPDR S&P 500 (SPY)

[leftyg]

Hey be..my phrasing could have been better, I guess. Early in the trading day today, my trend indicator signaled a change to a positive trend for today. I had already placed a buy order with my broker to purchase MVV if that price were reached...so that buy was executed.

In trend trading..there is always the risk/reward decision of how tight to set the parameters that will indicate an opportunity for profit....if the indicator is too loose, a good part of the next move is lost..if the indicator is too tight, there is the risk that the trend change may fail, and a whipsaw result.

After the indication of a change to a positive trend today..the price wandered, and finished very near the price of Fridays close. Since a change to a positive trend has been triggered, and not negated by a change back to a negative trend, I will stay with the long position overnight..expecting that the projected positive trend will materialize tomorrow. I think Gleno calls that his hope indicator. Regards.