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Reply With QuoteThis consolidation is likely going to be over before anyone can blink - any lateral move is simply building our base for the next move higher.
Re: bmneveu's Account Talk
Anyone notice this?
18APR13 S&P.png
Here are the moves..
First leg up goes from 1204 to 1423 for a gain of 219 points. (17%)
First leg down goes from 1423 to 1266 for a loss of 157 points. (-11%)
Second leg up goes from 1266 to 1475 for a gain of 209 points. (16.5%)
Second leg down goes from 1475 to 1340 for a loss of 135 points. (-9%)
Third leg up goes from 1340 to 1598 for a gain of 258 points. (19%)
Third leg down goes from 1598 to ____?
At that pace, a 12% correction over about 2 months would make sense. From 1598, that would be 192 points, bringing us down to a bottom of 1406 sometime in June.
Last edited by bmneveu; 04-18-2013 at 03:51 PM. Reason: corrections
Re: bmneveu's Account Talk
This consolidation is likely going to be over before anyone can blink - any lateral move is simply building our base for the next move higher.
Re: bmneveu's Account Talk
Of course, because the market can never go down...Originally Posted by Birchtree
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Re: bmneveu's Account Talk
We all want the market to go down some as a natural occurrence of investing but with all the liquidity and more liquidity it ain't gonna happen. The Japanese will be in the market early tomorrow to set the stage - watch the shorts cover their pajammas.
Re: bmneveu's Account Talk
????
Why?
Rules:
- Trade what you see, not what you believe
- Don't put stuff in your signature that a Mod doesn't like
"Government exists to protect all people’s rights, not some people’s feelings." - A. Barton Hinkle
Great Tools:
http://www.CreditKarma.com
http://www.Mint.com
http://www.SaveUp.com/r/nmJ
Volume had been much higher on down days lately. I think we're going lower from here, maybe chop sideways at best for a bit. Seasonality, volatility, HO, and the chart I posted yesterday all add up to bad news. I'm looking for a lower entry price until something changes my mind, lol.????
Why?
Re: bmneveu's Account Talk
Bought TZA near the close at $38.64. Still 100% F in TSP.
Doubled down on TZA after the close. DCA'd down. Shorting at the top hopefully...
Re: bmneveu's Account Talk
Sold TZA @ $38.68. Gained 6.25% today and about 3% overall on the position.
Edit: Trading account is at +7.27% YTD.
Re: bmneveu's Account Talk
The wife picked up Stock Market Wizards (2003 edition) and Hedge Fund Market Wizards (2012) by Jack D. Schwager for me today. I read his first "Wizards" book from way back when and loved it. I might end up getting all of his books.
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