The VLE gave a neutral signal yesterday by closing above its 25dema, but not 4% above its intraday swing low of 2/7/08. The 25dema is also flat. The earliest that a new long signal could be generated is tomorrow if the 25dema rises the next two days and closes above 2140.87.
For those who did not exit the previous long signal using the opening gap stop approach, the course of action is to remain long until the next long neutral or short signal.
For those who went short on the open on 2/7/08, the proper action is to exit short on the open today, or to use the reverse procedure from 2/7/08. In this case you would wait for the first 15 to 30 min to see if a top is put in and then place a stop loss order above that level. However, with the positive news from AMAT and the better than expected retail sales report this morning the opening gap is not likely to be filled.
The Cabot Tides system remains short.
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