Thread: coolhand's Account Talk

Originally Posted by coolhand

The action is not inspiring for bulls or bears, but the bulls are still in charge. I won't be making any adjustments to my current positions today.

No matter how the day (year) ends, 2017 has been a banner year for me. In fact, it is the best year I've had since retiring in early 2011.

Thanks for all your great commentary this past year. Your perspective has been most helpful.

Have a Happy New Year!!!

Ravensfan, now you just need a win over the bengals.

Friday's action, which was the last day of the trading year for 2017, saw a choppy trading session for most of the day until the final 30 minutes or so when the sellers took control and drove price lower for a sizeable loss. I had mentioned prior to Friday's open that the chance for some selling next week was better than I had originally anticipated. Maybe that selling came early, which may improve the chances for some upside next week after all.

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Volume was a bit more elevated Friday, but still lower than normal. No technical damage was done.

I note that TRIN and TRINQ closed at high levels on Friday. That's bullish heading into Tuesday. The OEX P/C is bullish too (smart money). Breadth remains solidly in the bullish camp. NAAIM backed off their bullishness last week, but they still remain bullish overall.

I see no change to the intermediate or longer term picture. It remains bullish. The short term looks bullish to my eye as well (next week).

The rally today has brought the averages back near their highs. I don't know how much more we may get before the close, assuming the high isn't in, but the chances for some selling are now increasing again. I plan to lighten up on the S fund and TNA today.

I can potentially see further strength in anticipation of and depending on the job number this Friday. Aaii is meaningless until next week's nonholiday value. Also looking for an interim exit, if it gets too hot.

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Woohoo! Let Jan roll!

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As you know, I said I was lightening up my S fund and TNA exposure today. I am viewing this as a short-term, albeit risky play. I locked in some nice gains, so I'm going to leave it at that and look for another entry in the days ahead.

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The indexes hit fresh highs today. That's not bearish.

The day before, I said that TRIN and TRINQ closed at very high levels and that was bullish for Tuesday. Well, now they've closed at very low levels on Tuesday and that's bearish for Wednesday. The OEX went neutral (smart money), but the CBOE went very bullish, which is bearish (dumb money). Breadth continue to hit fresh all-time highs.

So, I'm looking for a pullback on Wednesday, but downside plays are not oft rewarded in this market. Even if we get some selling, it may not amount to much. If you're holding long, that's fine. I don't have any hard evidence that were about to hit a wall. Again, my move today was a short-term speculative play. We'll see how it goes.

I said yesterday that I was looking for weakness on Wednesday, but I cautioned that this market makes it darn hard to play the downside. That didn't change either as the S&P 500, DWCPF and EFA all closed at fresh all-time highs. There was intraday selling pressure, but it was met all day long with buying pressure too.

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Tonight, the options are largely neutral. Breadth remains bullish. The trend is bullish. We're due for some selling, but that doesn't mean we'll get much; though a correction sometime in January certainly seems reasonable. But that was my Grandfather's market.

I remain on the sidelines for now.

I should listen to the master but this time I'm going to play a lil contrarian action. Staying all in for the time being.

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Does anyone know why everyone has moved out of the I fund. The top 150 of the Auto Tracker?

Originally Posted by Bill3438

Does anyone know why everyone has moved out of the I fund. The top 150 of the Auto Tracker?

They haven't moved out; the top 150 has changed with the new year as C and S are doing better than I.