Thread: Rod's Account Talk

Originally Posted by mdfiasco

Watching todays action I'm seeing a chance to punch out with little to no losses from last weeks IFT...seems as though a factor in todays uptick are the prospects of states loosening restrictions on quarantine and little else. I'm not finding 'good news' aside from feelings about the easing of restrictions.

I am likely moving back to G today in preparation for another drop due to: re-climbing the curve of infection, mutation of Covid-19, and absence of good news. Might not even recognize last Thursdays "loss".

Thoughts?

If I was in the black and did not have losses to make up, I would likely IFT to (G) today in hopes of an up close. But, I still have 2.53% to make up... not to mention the 0.75% I was down prior to my IFT... for a total of 3.28% to make up. If the current trend holds, we could close up at least 1.5%. It's a gamble on my part... but I hope to end the week in positive territory.

Before you make any decisions, check out the latest videos from Pivot Boss (Not to be confused with Pivot Point Trading). Scroll down and make sure you're on the correct day... today:

PivotBoss Technical Analysis Videos

God Bless

Originally Posted by tsptalk

Add to that Friday's upcoming -21 million jobs report with a 16% - 17% unemployment rate.

You would think that's baked into the prices already, but it could be a reality check for some who think all is well again.

Yeah... Friday will definitely be interesting. Hopefully I can make up my losses before then and comfortably IFT back to (G).

Originally Posted by Rod

Yeah... Friday will definitely be interesting. Hopefully I can make up my losses before then and comfortably IFT back to (G).

Same, I'm down 2.54%. A punch out would be kneejerk BUT if I follow my gut regarding this early week pump, I'll dump by Thursday at 1159hrs hoping to make up or build that percentage.

Whatever happened to "Don't fight the trend?" We are clearly trending up over the last 5 weeks. Sure, reopening the economy might not be strong news, but it's a 180 degree reversal of the news that took us down. I think we have to look on the bright side until the trend changes. An opportunity for like this doesn't come along very often.

Originally Posted by rangerray

Whatever happened to "Don't fight the trend?" We are clearly trending up over the last 5 weeks. Sure, reopening the economy might not be strong news, but it's a 180 degree reversal of the news that took us down. I think we have to look on the bright side until the trend changes. An opportunity for like this doesn't come along very often.

Of course, the last two weeks have been negative, overall, for the major indices.

But at any rate, that's why I suggested watching Pivot Boss's videos. He makes some good points. Essentially he says,

As of now... S&P's potential upside range: 2950-3000

Then he goes on to say that if it breaks below 2800, then it will fall much lower... possibly to retest the lows.

BTW, the S&P's 200-EMA (2946) will soon be within range again. We're about 53 points from it now.

Get that dude off the tube... the more he talks the more Mr. Market sells. I think CNBC times these interviews in a such a way as to influence Mr. Market.

Originally Posted by Rod

Get that dude off the tube... the more he talks the more Mr. Market sells. I think CNBC times these interviews in a such a way as to influence Mr. Market.

Unless we get a final push the last 15 min, you can blame the rally fizzle on the CNBC interview with the Fed Vice Chair.

Originally Posted by Rod

Unless we get a final push the last 15 min, you can blame the rally fizzle on the CNBC interview with the Fed Vice Chair.

And now they replay the interview for a further drop...

Originally Posted by Rod

And now they replay the interview for a further drop...

At least they did not replay too much of the interview... might get lucky.

At any rate, I'm thankful to come away with around 1% of gains today. I'm also thankful that the S&P 500 closed above its 50-EMA again... for the 8th day in a row. We shall see what tomorrow brings.

God Bless

BTW, (compared with yesterday) today we made higher lows and higher highs across the Dow, S&P, and Naz.

Just an observation.