Thread: coolhand's Account Talk

I'm not going to be around a computer today, but I will have internet access from my cell should I decide to make an IFT. I don't expect to make one though, as futures are only up modestly and I'm not expecting a sell-off just yet.

I just got back to a computer and all I can say is wow. And with volume too.

This has been one heck of a rally and it was one of those that was difficult to assess. If I had been able to trust the seven sentinels last week, I could have picked up at least 5 or 6%. This market has been deceptive for several months now and one would have to embrace risk to take advantage of it.

After today I'm not so sure I'm looking to buy any more.

Maybe I want to sell first and hope the beginning of August gives me a better opportunity.

This push higher won't go on forever without retracing at some point. The higher it moves without consolidating the larger the retracement may be. I know I wasn't expecting a lot of damage to the downside, but the market is really getting ahead of itself here.

Looking for weakness again over the next several days. As I mentioned earlier, I may be looking to sell my small position in equities in the short term now that we are closing in on August. It won't be an easy decision and may do something entirely different as things play out.

The SPX is now up 46% since its March lows. The transports today were up 3.3% - moving above their triple top - a very bullish pattern. Should I take my snake oil some place else?

Originally Posted by Birchtree

The SPX is now up 46% since its March lows. The transports today were up 3.3% - moving above their triple top - a very bullish pattern. Should I take my snake oil some place else?

You're way too cocky. That's not what this board is about. Your buy and hold strategy will always be challenged just like my market timing strategy. Get used to it.

Three months ago a cash position in the G fund was beating your buy and hold all the way back to 1997.

It's all about perspective and context BT. It's a concept you have a hard time with.

Having said all that, I'll also add that you do have some good things to add to the board, just don't ever hurt your arm patting your own back.

Thanks coolhand I'll take that as a compliment. The Coppock Curve did flash a buy signal to indicate the onset of a new bull market. Now that was cocky. This market is sending a clear message to Obama and that is he needs to move to the center. $48K today - what a laugh.

Maybe tomorrow we'll find out how far ahead the Nasdaq is from it's mean after what's being described as 'misses' from MSFT and AMZN. I don't trust after hours trading no matter what the volume is since all it takes is one player to move the stock, but I'm sure they're looking to open it lower.

Originally Posted by Bullitt

Maybe tomorrow we'll find out how far ahead the Nasdaq is from it's mean after what's being described as 'misses' from MSFT and AMZN. I don't trust after hours trading no matter what the volume is since all it takes is one player to move the stock, but I'm sure they're looking to open it lower.

Check your PMs.

http://www.washingtonexaminer.com/op...-51473502.html

Originally Posted by Birchtree

This market is sending a clear message to Obama and that is he needs to move to the center.

While we may not agree on portfolio management, I am at least happy we can both agree on politics.

I've found a viable Democratic candidate for the next election.

http://cfecon.blogspot.com/2009/07/h...lifornias.html

I was really curious how Cal. got into this financial mess. Now I know thanks to Coolhand.
She is a poster child for banned pregnancies.