Wednesday, July 11, 2012

Composite remains half long...

CCI has moved below zero which is unofficially a solid buy signal when the 21day MA is above zero. However, the JTS refuses to offer a buy signal again today, so the JTComposite System will remain just half long TNA. Despite this, I added to my long position on today's intraday dip as I am expecting a bounce in the coming days. Evidence is mounting. Thanks for reading...
-J

15 comments:

  1. Thx JT! Love these pre 3:45pm posts, whichever way they come out, eons of time to position in accordance. "Thanks for reading!" LOL

    Thanks for posting. Reading is the easy part.

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  2. Not to anthropomorphize it too much, but, as the system's father, can you explain why the JTS isn't issuing a buy signal?

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    1. My best guess is the system is expecting to see at least a little panic selling. It's not seeing it, so it's not going long yet.

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  3. Is the "why" addressed to me? If so, because I'm curious.

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  4. Thanks, J... I started accumulating longs today, and will continue scaling in on any weakness now. Bears tried taking the mkt down, but were unsuccessful today, so I expect the bulls to win and rally some time over the next week or so. Good for swing longs to start here -- and lower.

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  5. JTS is currently giving a strong buy signal... 11am ET 7/12

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  6. Thanks J for the update, going Long here intraday. We filled the Gap to 1325, target 1380-85.

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  7. If the market continues to rise today, would the JTS continue to give its strong buy signal? In other words, is there any chance that it might revert to holding cash?

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  8. It may as long as we don't finish too strong. It has a big cushion right now though... otoh, if we start to eat into that gap down area, it might go away.

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  9. Strong buy signal is gone. We're barely hanging on to the regular buy signal at this point. Right now, kicking myself for not adding more longs this morning. I even have a sticky note stuck here on my laptop that I wrote a few days ago. It says... "Go VERY long on the 7/2 gap fill...even if you don't want to!"

    So much for that... maybe we'll tank again this afternoon.

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  10. Oh well. I'm doing some of the same kicking.

    Can you tell by looking at the JTS what it would take to invalidate the buy signal altogether?

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  11. Dow 12500 should give support, Looking for Dow 13000, I guess still time to go long. This market still has one leg up remaing before we tank in early August as per me. Thanks J for keeping the signals coming well in time for great trades.

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