Thursday, September 27, 2012

JT Comp back to cash.

The CCI system will remain long but the JTS is shorting this rally. This is a neutral set up and I'm taking profits and happily moving back to cash. This ends the best 3 day streak of the year, which saw my total account value rise by nearly 15% and puts me back to an all time high. Take care and I'll see you back here tomorrow. Cheers!
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13 comments:

  1. JKHSeptember 27, 2012 at 11:29 PM

    Nice call J (and others)... today was a play many caught and called. Nice.

    Good odds for a gap up open tomorrow. I'll be exiting my longs tomorrow, esp on moves over today's HOD, including some in premkt, if I can. 1458 Sp500 is key for the bears. I plan to swing back short by close tomorrow.

    Daily charts could set up with some seriously juicy bear patterns. QQQ H&S forming, DOW/RUT/XLF all did failed upside breakouts... Sp500 needs to take out 9/26 lows. We see that happen and we will be sitting on multiple weeks of downside... the rumored "Romney retracement" may yet happen. It'll take a mkt crash for him to win, that's for sure. What a dolt.

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    Replies
    1. RealMoneyIssuesSeptember 28, 2012 at 9:26 AM

      Well, doesn't look like a gap up on open, but I do hope it at least tests yesterday's high so I can sell.

      I will sell and wait to see what J has for us this afternoon...

      I hate end of quarter window dressing; never know where they are going to put the prices...

      Delete
  2. JamesSeptember 28, 2012 at 9:59 AM

    I am favoring getting back into XIV for next week.

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  3. AlgyrosSeptember 28, 2012 at 10:08 AM

    J, as you know, I've spoken out against discretionary trading for some time. Even you, the father of the system, has said that you've not been able to match it using your personal sense of where the market is going. I shudder to think what less accomplished traders will do if they don't stick to a good system (remember that 95% of traders end up losing money).

    Having said that, I agree with you. For a lot of technical reasons (channels and flags mainly), my sense is that the market is going to move higher, and XIV will have the current of contango to push it along.

    But . . . as I've said in the past, my own opinion is just that, an opinion with no record to back it up. I don't even trust it and would never trade real money based on it.

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  4. JamesSeptember 28, 2012 at 10:47 AM

    You're right, I should've said that I'm hoping I get a buy signal today so I can go long with XIV next week. :)

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  5. JamesSeptember 28, 2012 at 11:03 AM

    Right now it looks I may be in luck. JTS is giving a buy signal. We'll see if it can hold into the close.

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  6. AlgyrosSeptember 28, 2012 at 11:14 AM

    It's nice when your subjective sense of things lines up with a more objective strategy.

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  7. UnknownSeptember 28, 2012 at 1:40 PM

    This comment has been removed by a blog administrator.

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    Replies
    1. JamesSeptember 28, 2012 at 3:11 PM

      Thank u for visiting and taking the time to post your valuable opinion. Next time I kindly ask that you do so in a more respectful manner.

      Delete
  8. RealMoneyIssuesSeptember 28, 2012 at 1:53 PM

    Wow, hopefully J can delete that juvenile post above...

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  9. AlgyrosSeptember 28, 2012 at 2:38 PM

    I think he should keep it. It's a good reminder of how pitiful and worthy of pity some people are. Posts like that remind me of my tendencies to blame others for my own failures and, hopefully, help me to manage them.

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  10. AlgyrosSeptember 28, 2012 at 3:16 PM

    J, you're a saint.

    ReplyDelete

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