Posted By: John   Date: Thu Jan 13, 2011

Title: ANO in cash but you're long

Message:
  hello - jan12 close - i see the ANO is in cash but you are long for jan13 - would you explain? - thanks

Response:
 The ANO computed at the close today determines the trading position at the close tomorrow. Yesterday's ANO value determines the trading position at the close today. The effect of the ANO is delayed by one day. Since the ANO computed at the close yesterday was above the long setpoint, we are long until the close tomorrow. The ANO computed at the close today dropped below the long setpoint so we will go to cash at the close tomorrow. See the About page for more detail.