Thread: MrJohnRoss' Account Talk

Originally Posted by MrJohnRoss

Did I mention that I'm not feeling too good about this market? Seems like it's psychotic. Wild swings up, then down, then back up again... all in the same day. I'm really considering abandoning ship, possibly tomorrow.

This is options expiration week, so there's bound to be some volatility. According to the Stock Traders Almanac, January expiration week has been horrible since 1999, with the Dow down 9 of the last 16 years (56%), with an average loss of -1.3%.




Here's tomorrow's historical odds of a positive close, FWIW:

DJIA: 52%
S&P500: 52%
Nasdaq: 52%
R1K: 57%
R2K: 63%

Looks like Oil is continuing to fall tonight. WTIC closed today at 46.11. Just looked at the futures price, which is currently at 45.65. DWTI *should* do well tomorrow. And possibly for quite a few after that. I think we'll see oil under 40 bucks before too long.

Here's a weekly chart of West Texas Crude Oil. I don't see any strength here, do you?


Attachment 31979

To further start your day....http://finance.yahoo.com/news/saudis...140151602.html

You sure called it right! I don't have a problem with oil going down but the market is really crazy right now. I will probably pair back too. I remember how bad the end of last January was. Good luck!

I only gave back -$196K last January but gained +$290K in February - so one never knows what the future may hold.

Looks like we're going to have a re-test of the S&P's recent low of 1992. So far, we're bouncing off of the lows for the day at 2001, so it looks like we may have a successful test. Of course, the day is still early, and it could go psychotic on us again. If we go below 1992, then our next test will be the Dec low of 1973. Let's hope we don't have to go that far down.

Originally Posted by nasa1974

It finally cleared up last night so I went out to try andsee comet Lovejoy. I spotted it using my binoculars and it looked like a faintfuzzy green cotton ball. It was northwest of Orion’s belt and southeast of the PleiadesCluster.The map a few pages back is pretty good for location.

Thanks nasa, glad someone here got to see it. I think my area has too much light polution to see it, but it's been overcast most nights lately. I'll try again if it clears up.

Originally Posted by MrJohnRoss

So far, we're bouncing off of the lows for the day at 2001, so it looks like we may have a successful test.

A good bounce to boot.

Originally Posted by Hawgjo

To further start your day....http://finance.yahoo.com/news/saudis...140151602.html

IMHO, the Saudi's can afford to lose money, whereas many of our more expensive oil explorers will have a hard time staying in business if they burn through their cash. Banks aren't going to lend them any more money, unless they agree to sky-high interest rates. The energy junk bond market has come off the rails, and it's spooking the entire banking industry.

Originally Posted by Birchtree

I only gave back -$196K last January but gained +$290K in February - so one never knows what the future may hold.

Yes, last February was one of the better months of 2014 for this aging bull market. Trying to get a good read for this year's market, and it sure seems to be flashing some warning signs. Perhaps we just need a good *flush* so we can get to an oversold condition, then start a nice move higher.

Yup, it's that old fear of being cast into perdition in the pyroclastic collapse to come, which may never arrive. I'm holding steady.

Originally Posted by Birchtree

Yup, it's that old fear of being cast into perdition in the pyroclastic collapse to come, which may never arrive. I'm holding steady.

I'm shocked.

Was that a double bounce off 2001?