Monday, October 15, 2012

JTS sells...JT Comp to CASH...

10/16 Update: The CCI system is going short today.  I don't think the JTS will, however.  I've added my first lot of shorts already using SPXU.  TZA was not oversold enough for my liking.... Wish me luck.  Right now, it feels like I'll need all the luck I can get. 

More later...

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The JTS will sell its existing long position.  This combined with the CCI already in cash puts the JT Composite system back to 100% cash.   I'm following suit here, selling my 25% XIV position prior to the close.

The plan is still intact.  I will hope for a pullback the next few days but will not go short until/unless I get a short signal.

Thanks!

15 comments:

  1. J, yer leaving me again? Boo hooo.... ;-)

    Today was a phenomenal day of buying the break below Friday's LOD, and then enjoying the ride up all day. Just followin' my plan as stated last week. Keep on buyin' that dip. Good call to expect a bottom today (or very soon), J.

    But w/you now out, I'm not gonna get greedy. Not getting short yet, but taking off some ES longs in A/H now that we are pushing up into 1437 area. I expect ES to go up to 1442 area, but always scale in/out , as y'all have seen me do the past few months, trying to capture general turn areas.

    I figure tomorrow's debate is gonna be written up as an Obama win, and, as such, the mkts will rally -- remember, the mkt hates uncertainty, and a Romney win is definitely "uncertainty" in terms of what he'd do next year. If we rally big tomorrow (ie "buy the mystery, sell the history"), then I'd consider shorting, especially if you get a good short signal, J.

    Glad the volatility is back -- this is the best trading of 2012. The first 3Q sucked, w/too-small range, and grind action.

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  2. I refuse to believe we've finished the pullback. I'm leaning toward today being a nice rally to suck in some longs before the next leg down. I'm more than happy to be in cash. Good luck with your longs, JKH. I want to buy in cheaper... ~1400 seems like a nice round number.

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  3. J and JKH,

    One of you is right and one of you is wrong. As for me, I prefer to rely on systems with an objective track record and verifiable realtime trading results.

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    1. Perhaps we'll both be right on slightly different time frames. I hear you though, A. I talk up all these plans as if I know what the market will do, then it usually turns out I end up just following my JT Comp signals.

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    2. Tx, J,... Nicely put. I would not consider you being in cash and me still mostly long to be "one is right, the other is wrong". Algyros, look at that scenario more as a change in risk/reward predictions, nothing more..

      Algyros, this is not about being right/wrong... it's about making money. And, as you've seen for the past several months here, there are many ways to do that overall, including many ways just using J's signals. You just need to find what works for you, what your pain thresholds are, and what you expect for returns as well as your overall style. But don't be surprised to see me continue my style of scaling in/out all the time and tolerating drawdowns in order to catch longer-term swings.

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  4. I'll entertain some TZA if we hit this bad tick "target" tomorrow.

    http://4.bp.blogspot.com/-ejvS56ldiK4/UHR9bsrbyQI/AAAAAAAAALQ/RiliY7RNeJk/s1600/pbar2.png

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    1. Anything North of 145.60 would be sweeeet.

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    2. You got it! And I added my first lot of shorts. Win-win(so far)! :)

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  5. Added a "My Trades" section... what do you think? OK or too much? Comments/suggestions welcome. Thanks.

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  6. Love it. With other sites, I would w orry that we'd see exaggerated numbers. Completely trust you and continue to believe your honesty.

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  7. J,

    Your honesty, openness and generosity are without equal.

    Alex

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  8. J-trader,

    which broker do you use? and what is the software you used for plots?

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    1. Been with Scottrade since 2004, but only because I'm too lazy to change brokers. They get the job done.

      All graphics I've ever shown on my site originate from either Freestockcharts or Open Office.

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  9. I took the "short" plunge today that I mentioned earlier. When SPY hit 145.61, I took a 33% position in SPXU. I had commented I may buy TZA, but instead opted for SPXU b/c it was more oversold than TZA.

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