Cowabunga System Daily Update: 04/27/07

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Main Trend

Current Trend= The trend remained down the entire day.

Today I only looked for short trades.

Today’s Surf

1:45 am ET– There was a moving average for a short trade. RSI was less than 50, stochastics were trending down and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle which was at 9899 with a stop at the most recent swing high at 9921. Since I was 49 pips away from the nearest 50 level I decided to put my target at 9850.

4:00 am ET– Unfortunately I am stopped out of my trade.

11:00 am ET– There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down but MACD was already negative which cancelled out the signal. No entry.

Trade Result: -22 pips; R-Multiple= -1.00

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