Tuesday, September 25, 2012

100% Long

All systems move to 100% long positions today. Hopefully today was just a shakeout of weak longs and we continue up from here. Was hoping TZA would hit 15 before any buy signal, but looks like it'll come up short. Oh well...Thanks and good luck all!

9 comments:

  1. I bought early today, so I got a break even on the TZA trade and a little underwater on the TNA... still a little nervous about buying XIV...

    ReplyDelete
  2. So are you following your system on this 100% J? I know sometimes you do things a little different. I'm not convinced we are going to continue up.

    ReplyDelete
  3. Tx, J. I'm busy booking profits on my shorts... took a while, but glad I held my course and plan. As I said yesterday, bears needed to clear 1452 today, and they did, w/gusto! So bears own this mkt now, as long as they can keep the lid on this mkt at 1458.

    QQQ daily has a really nice 6-day Island Reversal pattern. Check it out. Last time that pattern showed up 5/4, the mkts dropped for 2 weeks straight afterward. So, mkts have most likely put in a serious local high the past week. I'll keep playing the short side, waiting for deeper oversold mkts before playing longs.

    Sp500 erased the Bernanke Q-Eternity pop one-day-move, as predicted, within 2 weeks. Gotta love it when the stats work that well. But volume today was lacking, so it didn't look like washout, to me.

    Caveat Emptor!

    ReplyDelete
  4. Thanks JKH! To answer Jared's question, no I'm not 100% long. Not even close... :) But I'm not heavily short anymore either. I will be buying XIV sometime this week.

    ReplyDelete
    Replies
    1. OK Just dumped the rest of my TZA at 15. I'm all cash again after being short the past ~2 weeks.

      Delete
    2. Now I'm on the prowl for XIV on the cheap. Looks like I'm in luck today.

      Delete
  5. Well, I didn't get good prices, so I hope we get a good bounce from here...

    ReplyDelete
  6. Looking at the VIX/VXX/XIV trio, they all seem to be suggesting at least the possibility of a reversal. Personally, being fairly conservative I'd rather wait a day for confirmation. But that monster morning star on the daily XIV sure looks bullish to me.

    ReplyDelete