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Thread: FogSailing's Account Talk

  1. #1105

    Default Re: FogSailing's Account Talk

    I have that 2646 as the top of the support range (talking floor) with bottom resistance at 2738. We seem, maybe, hopefully, to be holding above that. Fingers crossed we go up.

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  3. #1106

    Join Date
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    Default Re: FogSailing's Account Talk

    If we pierce 2646, my guess is we now head to 2632. We should pivot there. if not, 2619 is the next opportunity to turn this thing around.
    I still don't see us having a huge down until after the FOMC meeting next week so I'm still optimistic we get back above 2671, and then we re-evaluate.

    I will say this...don't think about things like a Santa Rally. Don't do as i do...

    What i am seeing is a lot of chop...and being an old sailor i can tell you...that stuff is just disgusting.

    Standing by for heavy rolls tomorrow...

    FS
    FogSailing
    Try to learn something about everything and everything about something.

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  5. #1107

    Default Re: FogSailing's Account Talk

    Quote Originally Posted by Mcqlives View Post
    I would like to see that 2604 range tested again before a bounce. I would feel better about getting in on any upside after that happened. As the indexes stand now, any trade a person makes is pretty high risk. As the saying goes for traders (I just read it on an AF chat so am stealing it)...A little greed is fine but let's try not to be stupid.
    I guess I was stupid. Should have waited for 2604 to retest. Oh well! I'm riding till Monday and see what happens. I have a few percent buffer left on my imaginary stop loss


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  7. #1108

    Default Re: FogSailing's Account Talk

    Me too... but its not much of a buffer for me.
    Don't take my comments as trading advice /IFT: 2-13-24=100G/https://www.theepochtimes.com/ & http://www.ewg.org/PermaCharts@p430#5159/strategy#4918p.410

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  9. #1109

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    Default Re: FogSailing's Account Talk

    Those rolls were heavier than I expected.. More of a full on ROGUE WAVE....
    I am expecting a small bounce, now , followed by more downside.
    If we bounce Monday, I'm selling into limited strength and will come back to fight another day.
    I think Raven has it right. More downside yet to happen and if we rally it will probably happen after Xmas.

    FS
    FogSailing
    Try to learn something about everything and everything about something.

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  11. #1110

    Join Date
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    Default Re: FogSailing's Account Talk

    Quote Originally Posted by FogSailing View Post
    Those rolls were heavier than I expected.. More of a full on ROGUE WAVE....
    I am expecting a small bounce, now , followed by more downside.
    If we bounce Monday, I'm selling into limited strength and will come back to fight another day.
    I think Raven has it right. More downside yet to happen and if we rally it will probably happen after Xmas.

    FS
    I agree any bounce and it's time to get out for now, thanks for the commentary.

    Sent from my Pixel 2 XL using TSP Talk Forums mobile app
    Expected FERS Retirement; December 2028
    Thru-hike the Appalachian trail spring 2029

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  13. #1111

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    Default Re: FogSailing's Account Talk

    On Friday, I hypothesized a 20 point gain today and planned on selling into strength..
    What was i smoking? Another 2% down....
    I'm thinking we may see our first crash ever in December..
    Tonight China is talking their economy...what will tomorrow bring?
    I think the Fed has been loud and clear on it's plans, and i don't think they are changing..
    So, one theory is that these pullbacks are like pulling taut on a slingshot and we're going to go ballistic.
    Another is that we are well into a major market decline.

    I guess I'm hoping that the slingshot theory works for at least one day, and sends the market positive.
    Like everyone else in the market, i plan to sell and get out..
    Of course, that is when the market will decide it's time to make money..

    Good luck and stay alert..
    This stuff is moving fast.



    FS
    FogSailing
    Try to learn something about everything and everything about something.

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  15. #1112

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    Default Re: FogSailing's Account Talk

    Well we took out 2550 today with a close of 2545.94, and we haven't even gotten to the FOMC meeting yet. So now what, down to 2478 or even scarier 2350?

    My move to bail on 7 Dec at 2633.08 was a smart move. Now all I have to do is not blow it by getting back in to soon and having Mr. Market eat up my 2017 profits. Yep I said 2017 profits as my last trade ate up all of 2018...Maybe sitting this one out in the G fund isn't such a bad strategy...

    Good luck and thanks for your insight.
    "the biggest mistake that traders make is to let these short-term trades turn into longer-term investments when they don’t work." RevShark

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  17. #1113

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    Default Re: FogSailing's Account Talk

    If there's gonna be a sizable rally it should get going very soon, maybe with some much-needed rocket fuel from the Fed on Wednesday as they cave in to market forces.

    Long ago I used to post stuff from the late Terry Laundry. Just dug this up. Way back in 2010 he was predicting a major crash/depression and "crisis opportunity" for those that still have cash in the year 2020. Well, we're almost there...and at the rate I'm going I'll have no cash to take advantage!

    https://www.youtube.com/watch?v=Yo2lh3EaAms

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  19. #1114

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    Default Re: FogSailing's Account Talk

    Thanks Raven. I've now lost most of 2017 as well. Tough year.
    If SPX doesn't pierce 2578, we're likely headed south..
    It's been climbing slowly, but the algos are in no hurry to get there, which tells me they may not be going there based on the trend..
    Planning to sell today..and stop the bleeding..
    FS
    FogSailing
    Try to learn something about everything and everything about something.

  20.  
  21. #1115

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    Default Re: FogSailing's Account Talk

    The algos took it right up to 2577.50 before the reversal. If it heads south of 2550, remember to respect the trend.

    FS
    FogSailing
    Try to learn something about everything and everything about something.

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  23. #1116

    Default Re: FogSailing's Account Talk

    Good thing to stop the bleeding. Gosh.. to think I almost broke even for the year... now down nearly -5%. Its tough to get out because of the hope that market will bounce. Well... it will eventually but I think that is months away... maybe a little bounce this week, but doubt it gets back losses from Friday and Monday. Then again...charts look very BAD.. Contemplating partial exit to stop some bleeding... but likely should exit fully. uggh …..
    Don't take my comments as trading advice /IFT: 2-13-24=100G/https://www.theepochtimes.com/ & http://www.ewg.org/PermaCharts@p430#5159/strategy#4918p.410


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