Keybot the Quant remains long despite all the early excitement. The algo printed the pre-scheduled number at 10 AM resulting in no change. Interestingly, as you are a follower of Keybot, you are aware of the importance of the UTIL 50 week MA 'trap door' for equities markets. The utes lost that 50 week MA level, at 414.55, for only a few seconds, at 10:06 AM, and then jumped higher taking the broad markets higher.
The SPX lost the 1155.47 level at the open so a flush was expected, and occurred. The SPX lost 10 points at 10 AM as Chairman Bernanke took the podium, but since the utes hung in there, the bulls ran the indexes higher and 1155.47 was regained. Watch UTIL 414.55 and SPX 1155.47 today, that is all you need to know to gauge broad market direction. The algo remains long.
9/4/11; 7:00 PM EST =
9/2/11; 9:00 AM EST =
8/31/11; 7:00 PM EST EOM =
8/30/11; 10:00 AM EST =
8/28/11; 7:00 PM EST =
8/26/11; 10:00 AM EST = -72; signal -77
8/23/11; 11:51 AM EST = -72; signal line is -77; go long 1146; (Benchmark SPX for 2011=-8.9%)(Keybot this trade=+13.4%; Keybot for 2011=+21.2%)(Actual this trade via SDS=+25.6%; Actual for 2011=+28.4%)
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