Thread: Tsunami's Account Talk

I decided to bank my May gains today, even though I expect just another dip tomorrow then further gains to above 3000. The easy gains have been made I think.

Here I am just 0.1% away from going green for the year, but are things about to fall apart?

The put-call ratio is reaching rare extremes of complacency and is worrisome...

Extreme Complacency.jpg

A followup to that chart I posted a few days ago...

https://realmoney.thestreet.com/inve...rned--15340316

It's very tempting to lock in gains today now that I'm back in the green for 2020 (+1.84% as of 6/4/20), but greed might keep me in since the Elliott wave guys suggest the irrational buying can continue another week or two.
Will likely have to endure a dip early next week though, as much as 2%, but then be rewarded for holding with one last big rally before the bears get off the couch and start their summertime gorging.

Bear.JPG

I hope you're correct saying there could be a bit of a drop early next week - to give some of us a lower point to consider getting in off the Lilly-pad; if I tried to jump on the train today it seems a complete FOMO move at highs. THX for posting and good luck to us all.

I'm closing my eyes and staying in, in large part since once I get out I'm locked out until July. If I had two IFTs I might do differently. Today seems like a total capitulation of the bears, but momentum should carry higher into next week.
In the Kendall Report today he mentioned that if the S&P closes over 3160 (?, I forgot the number he said) that there could be some sort of major signal that would negate his bearish view, plus my Elliott wave guys are getting more and more bullish...and Peter Eliades' projection software, which I now subscribe to on TradeStation and I like it....those targets are getting closer and beckon at 3300 and higher.

Also, the NYAD is hitting record highs today. That suggests the index's will soon follow. https://stockcharts.com/freecharts/gallery.html?$NYAD

Greed is good https://www.youtube.com/watch?v=VVxYOQS6ggk

Originally Posted by Tsunami

In the Kendall Report today he mentioned that if the S&P closes over 3160 (?, I forgot the number he said) that there could be some sort of major signal that would negate his bearish view,

Yes, 3160 is the number. I take notes while listening to him and wrote this down,

"Believes we are within 100 pts (S&P) before a 'big reversal to the downside.'" Then I wrote, "Question this if the S&P closes above 3160 today."

Then I wrote: "S&P 3197-3237 is the target range for the market rollover to commence. But Mr. Kendall does not know what that trigger will be. He expects all of this to play out over the next several weeks, or sooner."

If this rally holds, it will be interesting to see what he says on Sunday.

Originally Posted by Rod

Yes, 3160 is the number. I take notes while listening to him and wrote this down,

"Believes we are within 100 pts (S&P) before a 'big reversal to the downside.'" Then I wrote, "Question this if the S&P closes above 3160 today."

Then I wrote: "S&P 3197-3237 is the target range for the market rollover to commence. But Mr. Kendall does not know what that trigger will be. He expects all of this to play out over the next several weeks, or sooner."

If this rally holds, it will be interesting to see what he says on Sunday.

By “rollover”....what do you mean? A downturn.

Originally Posted by Bmoredunks

By “rollover”....what do you mean? A downturn.

Yes, that's what he means. A major decline.

Anybody else in the forum turning 60 this year like me? If so you'll want to read this really sucky news that I found out today...

https://www.fool.com/retirement/2020...rity-rule.aspx
https://repository.upenn.edu/cgi/vie...ext=prc_papers

Will Congress jump in and fix this? I'd say the odds of that are about the same as a full season of baseball this year.

Originally Posted by Tsunami

Anybody else in the forum turning 60 this year like me? If so you'll want to read this really sucky news that I found out today...

https://www.fool.com/retirement/2020...rity-rule.aspx
https://repository.upenn.edu/cgi/vie...ext=prc_papers

Will Congress jump in and fix this? I'd say the odds of that are about the same as a full season of baseball this year.

Nope. 68 and not collecting yet.

I might retire in Dec 2021 at 56 years old.