The Momentum system will be closing out of two shorts and going long today. Each issue will be taking some profit. There are currently 15 open positions as well, the majority of these positions are currently short. In the Momentum Systems, you are either short or long in an issue as the system takes advantage of the momentum swings from overbought to oversold on a shorter time frame.
The Trend System generated 5 signals today but none of the issues qualified as the longer term moving average condition was not in alignment. What I am seeing in many of the current basket of issues traded in this system is that the longer term trend has flattened with no real bias to trade. This being the case I will just sit on the sidelines and wait.
Below is one issue that will close out the short and go long today.
Yours in trading,