Thread: sniper's Account Talk

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I'm going to wait a day and watch price activity a little bit before jumping in. leaning bearish.

bullish case
- seasonality / election years in november are good
- market sentiment starting to get extremely bearish

bearish case
- technicals are not looking good for almost any major index (DJIA, SPX, RUT, QQQ all looking like they're in breakdown mode, or about to)
- hurricane sandy
- earnings reports have been weak this quarter
- despite the market fear, we haven't had a panic selloff yet like we typically do once a year. might just be a matter of time before that happens?

TNA buy limit triggered @ 58.37 for a bounce play. prolly a short term hold but seems to be working so far.

volume on IWM was over 2x normal, this bounce may have more conviction than I thought

out TNA 1.2% loss, my price target was correct (was predicting somewhere around $60 where the top of the downward channel is, and bouncing back down), just by the time I woke up it already happened. If there's anything to hate about living in Hawaii, it's the market opens at 4am lol.

and down she goes again, that was a wicked bounce to the downside from the 50-day (russell 2000)

shooting star action on the weekly chart (IWM, SPY, DIA). wanted to be bullish next week, but i gotta follow what the chart says. Staying G fund

For those who don't know yet, I changed my TSP strategy to make plays based of weekly chart readings. In the past, I tried to use a timing strategy similar to how I traded stocks/ETFs, and after realizing that wasn't possible due to IFT limitations, I changed my strategy for TSP to one that won't be making / thinking of making a new IFT from day to day, but looking to catch longer term swings.

The philosophy behind this will be much less short-term and more intermediate-long, may even look like a buy and hold strategy. But I think this would be the correct way to approach it, after all, it's gonna be another 25+ years before I can cash out my TSP, why should I worry about the short term? haha.

have a good weekend everyone, and don't forget to vote next week

wohoo, daylight savings for fall = IFT deadline is 7am instead of 6 here in hawaii

put in an order for tza when obama was announced the winner, up 5%, kaching!

out TZA +7%, waiting for a TNA entry, i think this was a kneejerk, we'll see. Still a lot of emotions in the market, so a lot of my moves will be in and out quickly.

TSP system staying G fund for the week

Russell 2000 channel surfing

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