Thursday's Outcomes: SPY, maybe

SPY, a bear play, broke above its stop/loss level on Wednesday and confirmed the exit signal by trading still higher today. See "The Market: Has the apocalypse arrived yet?".

However, because of the low trading volume during this shortened trading week and day, I've decided to defer confirmation until Monday, the next trading day. If SPY at the close on Monday remains above the $185.67 signal level, then I'll exit the position.

References

My trading rules can be read here. And the classic Turtle Trading rules on which my rules are based can be read here.

Disclaimer

Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.