I got an intraday sell signal to immediately take all my profits off the table, AND THAT’S WHAT I DID …because my indicators tell me that my advantage is no longer present That doesn’t mean an EDZ holder should sell, unless you are a day trader. Otherwise, it’s pretty much 50/50 and could go either way and that’s why I took my profits off the table, since my advantage is now gone since playing field is back to 50/50....and I do not like coin toss up propositions of 50/50 because anyone could walk in a casino for that.... but the bottom line is that once my intraday signals recognized that my advantage was gone, I immediately locked in my profits because I have to much at stack here where every split second I delay would mean thousands of profit I would have been handing back over to the house.
Guys---these employment figures are definitely worse than expected. "However, goods-producing industries shed 23,000 jobs, despite a gain of 15,000 in manufacturing. Construction companies cut 41,000 jobs -- the 35th straight decline for this sector. Read the full report on the ADP website." And remember, 400,000+ census workers are TEMP!!!! The calm before the storm. I think the juggling days are about over.
right now, it's to early to tell. it could go either way..
that's why I am at all cash right now just watching and waiting for one of 2 things to happen.
a) Either I get an official signal the S&P index is headed lower for today only, and purchase PUT contracts on the SPY index in an exclusive day trade.
b) Or I get an official signal the S&P index is headed higher for today only, and purchase CALL contracts on the SPY index accordingly in a day trade only.
Right now, I am getting mixed signals, about 75% bearish and 25% bullish . that's still not good enough for me. a reading would have to be 100% either way for me to make my move. So, I'll just wait it out. But which ever way I go, if I do get a signal to go bullish or bearish, I'll be unloaded that position by 4pm EST or sooner.
I am in, with a 100% intraday bearish reading. I am shorting the SPY index with a 113 strike price, at 3.95 share, with 1000 contract. The same thing as 100,000 shares. This is s day trade only. At the time of my entry, the SPY index was sitting at 110.492…