Thread: JTH's Account Talk

Put your big boy pants on, this is going to get exciting...

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Originally Posted by JTH

Put your big boy pants on, this is going to get exciting...

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What is all that mean? Low up volume with major sells volume. More selling to come?

If your going to surf the big waves have got to be the most exciting! Of course I grew up in Florida and never saw any really big waves especially not as big as today's.

Originally Posted by law87

What is all that mean? Low up volume with major sells volume. More selling to come?

Here's a long-term example, when low-volume conditions dissipate, it generally means we've run out of buyers to sustain the rise in prices. What tends to follow is a surge in volume because stops tend to be tighter at 52-week highs (my theory.) While there are still folks buying at 52-week highs, the early birds are taking profits, which is why we tend to see rounded-flat tops. What follows is a surge in seller's volume, the more fear there is, the tighter the stop, with the tighter stops getting triggered faster, we see the escalation of downsliding prices. This is why we usually go down faster than we go up.

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JTH, do you think this is the year for gold to rise again to 1600?

Folks stepped in and saved my arse yesterday and I'm not complaining.

Originally Posted by law87

JTH, do you think this is the year for gold to rise again to 1600?

1st answer is no, second answer is I don't watch gold all that much, 3rd answer is at a current price of $1,230, I think 1600 is unrealistic at this time.

Breakout

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With 6 of the first 8 days of January closing down, this is turning out to be a crappy month.

For the S&P 500, over the last 20 years, there have been 3 occasions where the 1st 2 days of January closed down, 2000, 2005, & 2014. In all 3 of those occasions the month closed down.

Originally Posted by JTH

For the S&P 500, over the last 20 years, there have been 3 occasions where the 1st 2 days of January closed down, 2000, 2005, & 2014. In all 3 of those occasions the month closed down.

Breakout

Now I'm confused.
I guess I will know at the close whether my move to the G yesterday was wise or not.