Thread: MrJohnRoss' Account Talk

Originally Posted by sniper

why not 2000?

I'm all for it.

Sold DUST this morning @ $31.05 for a six day gain of 8.2%. I'm going to sit on cash rather than move to NUGT right now, until a clear trend is in place. Seems this could go either way.

Holding my SRTY, which is up, surprisingly, even though the markets are higher.

Just looked at a multitude of stocks that I monitor. The majority of them are getting slaughtered today.

$VIX is going higher. Bought VXX @ $12.35.

The tide goes in, and the tide goes out.

Originally Posted by MrJohnRoss

S Fund, I Fund and F Fund have all three clearly rolled over. C Fund is high in the tree, clinging to it's last branches, but it's grip is getting tired and weak. Expect it to fall next week.

I believe today is the beginning of the drop for the rest of the market. Here's what happened during the last three downturns:

21 trading days, -7.5% loss
17 trading days, -4.9% loss
14 trading days, -4.9% loss

AVG:

17 trading days, -5.8% loss

That would put us around 1672 on the S&P. Timeline: about two weeks from today.

Rinse and repeat.


$spx.png

market just needs a breather. i expect the strong price action to continue in the medium-long term.

glad i sold my IWM yesterday for a nice 7% gain. didn't like what i was seeing and got out (weak price action / sell pressure + fear & greed index in the extreme greed territory)

Originally Posted by sniper

market just needs a breather. i expect the strong price action to continue in the medium-long term.

glad i sold my IWM yesterday for a nice 7% gain. didn't like what i was seeing and got out (weak price action / sell pressure + fear & greed index in the extreme greed territory)

Exactly. It's not the end of the world, it's just that the market moves in cycles. The down cycle has finally caught up with the C Fund.

The URTY/SRTY system will continue to hold SRTY. Nice gain of 5.1% today

The NUGT/DUST system continues to hold DUST, but I bailed out yesterday. Bummer. Today's gain was 7.3%.

Not at all surprised to see a countertrend move in the markets today after yesterday's sharp sell-off. What does surprise me is that the market is not falling due to the unexpectedly robust jobs report. That SHOULD mean that the Fed is going to start easing off of the gas pedal sooner rather than later, which should scare the markets. Simple logic doesn't always work that way, because the world is never quite that simple. However, I still think downward momentum is going to catch up with the markets, and we're going to continue our slide lower for another few weeks.

Was shocked this morning when I saw my VXX position had gone from yesterday's buy price of $12.35 to over $50 right out of the gate.

Then I read this article about the reverse split. Dang it. Thought I had hit a home run.

How To Prepare For The Upcoming iPath VIX Futures ETN Reverse Split

My apologies for the late post, but here's the status of the two systems I track:

Both the NUGT/DUST system and the URTY/SRTY system technically could be in transition for a switch, but will continue to hold current positions due to momentum.

I also believe that the bounce in the markets was a short term phenomenon, and unlikely to continue for long. Next week will be very telling for the intermediate term direction.

If yields continue to rise, bonds may begin to look more attractive to investors, who may pare their stock holdings to reposition themselves.