Happy long weekend

Stocks are definitely not everything in our life. With your family and friends, enjoy the holiday!

The Pivot Trend System indicates a bounce early next week unless XLF closes below $11.39. I am holding long positions URE into next week.

I only traded 4 times in this week. 3 out of them are with +4.6%, +6% and -1.2% gain/loss, while the other one (URE) remains open. See my performance panel on the right.

I still keep my intermediate view of this market which is a 2-3 month "correction" is on the way. [first target: SPX SMA(50)]

Good luck!

Bought URE, $3.49; long UYM, $18.5

Right, I am not crazy that I am long right now, with tight stop though.

10:20AM, bought UYM $18.5, Basic Materials are leading to bounce.

15:25PM, Cut UYM $18.3 to reduce long exposure over long weekend. (-1.2%)

The chart looks bearish, but ...

But I can not rule out a possible dead cat bounce for this market. So just be patient.

FoxSwing Real Time Trading

05/21/09 13:35 Long ES m9 @884.50

05/21/09 13:35 Covere short @884.50
05/18/09 Sell ES m9 @902.25

My trade plan

1) Don't aggressively short at this moment.
2) May long XLF or IYR (FAS/URE) with a proper (not big) size, due to Pivot Trend's BUY signal.
3) Slowly open intermediate short positions (I am currently holding IYR June 37 PUT)

Anyone interest on Euro futures?

I might post my realtime signal here.

Still, Oscillation will be last for a while

Still no much new to say, normally after a big trend , it should be ranged for a while before it goes to another trend. So in the trend line picture, its slope will cross over 0 sevral times in this period.

And I personally still believe, this trend was over when last time I posted here. Now even the slope of the trendline is above 0, I think it is typical oscillation. And since personally, I think no much room to go up, (Further more, as today, it likes it forms double tops around 930) I believe the next trend is down.

If you trade index futures, I suggest short on an up as I said last time.