Replies to post #87807 on SPDR S&P 500 (SPY)

[euterpe1]

That's an idea, but it also negates wins if your initial call is right. I typically will build a position. I've been going with small positions. So say 10% leveraged short or long. Next day that will build to 20%. That's worked well for me using the RSI 2 and 5, but I did get burned doing that on 7/16 - 7/20. No system is fool proof.

I bought the market long in early july on that system and the $NASI daily, but sold on the gap up into resistance. I ended up giving everything back I had made. I will also look at the $VIX daily and hourly for additional confirmation.

If we see 42.50 on the Q's I am backing up the truck short.

http://stockcharts.com/h-sc/ui?s=QQQQ&p=W&b=5&g=0&id=p48907364364