INTRADAY ALERT – MON – MODEL POSITIONS UPDATE


NOTE: The trading plans mentioned are all based on the published numbers – published earlier and can be verified on the blog with the timestamp. 

Our forecast and trading plans for Monday – published Sunday afternoon – stated: “Above 2737, long bias with very tight stops/trailing stops (5 to 8 points, to make sure the models don’t get whipsawed in false spikes). Below 2720, short bias with a trailing stop of 8 points. If short and if the index falls below 2690…” (click here for the full report).

As per the trading plan above, our intraday/aggressive models went short (sold) in the overnight e-mini futures markets on the break below of 2722 (equivalent of 2720 on the index) at 2721.50. When the market reached a low under 2700 (to 2698.50), the trailing stop was instituted at 2707. This was hit within the first hour of the regular session Monday morning, for a profit of about 15 points. 

The models are currently flat (no positions) – looking to go short on another break below 2720 (as of now – 1212pm EDT – the index is at 2706.40). 

Happy Investing/Trading!