Tuesday, July 26, 2011

Buy Signal #3 (Strong)

A relatively rare set-up is occurring today with the system giving a 3rd buy signal. While the system is already "all-in", admittedly I am not as I took some profits late last week. Holding 100% TNA over a weekend is a bit too much risk for me to stomach. I did buy some back yesterday on the open at 82.50. I will load up with more on the close today.

This is a strong buy signal, which by my definition simply means both healthy and unhealthy modes are sporting buy signals. Historical results associated with "strong buys" are impressive. I've posted the stats several times in the recent past...most recently on July 14.

As far as the system goes, it may as well be a hold signal. My system was all in at TNA 79.32 and profits have mostly evaporated since it neglected to dish up a sell signal last week.


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  2. You've got guts, my friend. I see nothing on the daily TNA chart to suggest it isn't in for more downside tomorrow. The stochastic in particular is quite bearish.

    Of course everything hinges on whether the Stooges in Washington can ever agree on this debt business.

  3. Daniel, I noticed that as well. I didn't click "submit" until about 3:46. I honestly have no clue why it says 3:27pm. That's not even the time I initiated the post. Hopefully just a fluke... I'll keep my eye on it in the future.

    I agree Michele, it doesn't look good. We tagged the 61.8 retracement from Jul 18-22. Let's hope that's enough... I doubt it though. Tomorrow may provide a better buying opportunity.

    Who knows though - we got a buy signal for a reason.

  4. LOL, I tipped my toe with today's signal for the first time, I entered position during AH drop at around $80.1.

    thanks for JT's signal. let's hope for the best. I share JT's view on not use stop-loss, especially with the prevailing HFT nowadays. position-size and trading frequency management could be a valid alternative for risk management.

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  6. Well, all long yesterday at close and down $3 this morning...

    I hope the smart money comes in and saves the day... :D

  7. Will the slaughter never end...

    Down $5+ at $75.50 :(

    Going to close my browser windows and hope for the best. I will see what happens by market close. Cya

  8. Looks like the 200 day MA at 74.92 came to the rescue. The slaughter stopped almost exactly at that level.

  9. Ugh! OUCH. Hate days like this...

    The gap down was a very bad sign. I never want to see a gap down after a buy signal. Always bad...

    Hangin' tough today, though. Apologies to anyone who went long with me yesterday.

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