Thread: coolhand's Account Talk

CH

I picked up a small position in SSO yesterday afternoon based on the 60-minute chart (even though the 10-day trend is down). I am not sure how long this will last, I was figuring maybe just today or a tad longer, before things start heading down again. Hopefully you will be correct, that it stretch into Thurs-Fri. But I am keeping tight stops on this one, especially towards 2 pm today. I will be satisfied with 2%, then out.

I am still all G in the tsp, do not trust these little rallies to give enough reward for the risk inherent in the slow IFT process the tsp uses.

Originally Posted by mdszj

CH

I picked up a small position in SSO yesterday afternoon based on the 60-minute chart (even though the 10-day trend is down). I am not sure how long this will last, I was figuring maybe just today or a tad longer, before things start heading down again. Hopefully you will be correct, that it stretch into Thurs-Fri. But I am keeping tight stops on this one, especially towards 2 pm today. I will be satisfied with 2%, then out.

I am still all G in the tsp, do not trust these little rallies to give enough reward for the risk inherent in the slow IFT process the tsp uses.

It's been a very risky trade and does require tight stops. I have to back up a little and say that I will not hold for Friday. If we continue to rise towards noon today I may pull the plug and take my gains today. The problem is the potential for a reversal following the FOMC announcement. If I remember correctly, the last annoucement was somewhat muted. I'm expecting it to be that way again today, which is why I posted that link to briefing.com. The street isn't expecting anything different, and the Fed doesn't want to upset a fragile economy. It's just too soon.

Watch my thread in the next hour (1130 est). I'll decide by then whether to give this one more day or not.

Originally Posted by mdszj

CH

I picked up a small position in SSO yesterday afternoon based on the 60-minute chart (even though the 10-day trend is down).

I should mention that I'm flat in my scottrade account today, but looking to reenter TZA. I've had two nice trades in a row on that one. It should be a rewarding 3X over the coming weeks.

Investors tend to buy on FOMC days. The DJIA has risen by 2.5% on average, on each of the past four Fed decision days. Three of those four rallies were followed, however, by sharp declines that erased the gains. Perhaps this time will be different.

Originally Posted by Birchtree

Investors tend to buy on FOMC days. The DJIA has risen by 2.5% on average, on each of the past four Fed decision days. Three of those four rallies were followed, however, by sharp declines that erased the gains. Perhaps this time will be different.

Thanks for the historical reference BT. 2.5% is about what I'm expecting today. Very risky after that considering the recent weakness and all it implies.

CH

If you or anyone else is interested in the effects of the FOMC mtg on the mkt you may want to check out this link: http://www.mypivots.com/articles/art...aspx?artnum=11

BTW - I just moved my stop up on the SSO trade so that if I get stopped out I will make a little over 2.5%.

Good luck on the TZA as well as your TSP trade. WIll be interested to see whether you get out today or wait a bit.

Originally Posted by mdszj

CH

If you or anyone else is interested in the effects of the FOMC mtg on the mkt you may want to check out this link: http://www.mypivots.com/articles/art...aspx?artnum=11

BTW - I just moved my stop up on the SSO trade so that if I get stopped out I will make a little over 2.5%.

Good luck on the TZA as well as your TSP trade. WIll be interested to see whether you get out today or wait a bit.

Great link! Thanks for sharing.

At this point I'm pretty sure I'll be moving to G today. Strength has held and there's a good chance it holds through the day. That's about the best set-up I could hope for when dealing with TSP constraints.

I'll make it official soon.

I decided to Hit and Run

Originally Posted by Uptrend

I decided to Hit and Run

Me too. Out. 100% G.

mdszj...check your PMs.

You guys nailed it. Good calls.