Wednesday, November 28, 2012

JT Comp holding but I'm adding shorts...

JTS is holding in cash, but CCI is producing another short signal. The particular trigger for today's short signal is a 1-day negative divergence between SPY and the CCI indicator. That is to say, SPY is higher than yesterday but the CCI is lower. It's pretty risky here, but I'm going to add to my short position with another lot of TZA on the close. Thx and take it easy!
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18 comments:

  1. johnNovember 28, 2012 at 4:06 PM

    thanks

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  2. AlexNovember 28, 2012 at 8:17 PM

    Hey j

    Remember as i sit on TQQQ long position i closed it for a 14.28 % profit .As to TZA i would be cautious for adding more lots because i see more downside on TZA .Next coming weeks i might short XIV let,s see

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  3. JKHNovember 28, 2012 at 8:26 PM

    Think I pretty much nailed it w/this post from yesterday: "The close of 11/21 Sp500 will be VERY key, going forward. Watch the action off that level. It's a magnet right now."

    Today we got the "magnet" hit... I took off most my shorts there... trailed stops on the rest, which were stopped B/E+1 on the reversal that followed.

    Yup... best (swing) trading of 2012 is behind us.... and no good downside action is going to happen as long as (1) the masses are so bearish (2) the plunge protection team is opening their yaps about "a solution to the cliff" and (3) it's December Doldrums.

    J, since yer adding to your shorts here, I'll join ya (tiny position), just to keep you company. Will short any gap up open tomorrow, too. No rush to get seriously short here, for me. Still, keeping shorts small. Any push over 1413 tomorrow (after 9:45am) will produce a large panic short-squeeze. I don't want to sit through that w/heavy shorts on.

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  4. AlgyrosNovember 29, 2012 at 7:50 AM

    This morning's futures coupled with JKH's usually prescient comments make me think that perhaps my question concerning the performance of the "all in or all out" version of the JT Comp is indeed relevant. Unfortunately, I didn't follow my own advice this time. So, I'm licking some wounds along with you, J.

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    Replies
    1. testy99November 29, 2012 at 3:19 PM

      I would like to see the 'all in or all out" performance stats as well...it could be helpful. tks

      Delete
  5. AlexNovember 29, 2012 at 9:54 AM

    I think TZA it will test 14.77

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  6. LanaNovember 29, 2012 at 11:59 AM

    J-Trader, I've been out of the market, with family business but have been watching your progress. So far your short call has, as usual, been spookily accurate in time. Did you know the talks were going to break down again today?? No it was your CCI divergence and the moon. I'm seeing the 50day 1422.39 blocking progress too. What parameters do you use on your CCI? You had a chart at one time, but I have lost it. Thanks for letting us watch your trading and participating in it.

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  7. john9o9November 29, 2012 at 1:51 PM

    HUH?! did I buy a different Tza. Lana? I am way underwater on Tza and closed out tna way too early!!

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  8. AlgyrosNovember 29, 2012 at 2:01 PM

    This comment has been removed by the author.

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  9. john9o9November 29, 2012 at 2:03 PM

    I have entry short on 11/20 at the beginning of this bone (and short) crushing rally!
    Am I missing something?

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  10. AlgyrosNovember 29, 2012 at 2:05 PM

    John,

    Did you buy the TZA that loses you money? I did that too once, but I've since learned my lesson: you have to buy the other one.

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    Replies
    1. DanielNovember 29, 2012 at 3:23 PM

      That's right, Algyros. You have to short TZA when bullish, and short TNA when bearish, because the other way you lose money since these triple-leveraged ETFs bleed value just by sitting still...

      Delete
  11. LanaNovember 29, 2012 at 3:24 PM

    Sorry if my comment was misunderstood. That's why I don't post much. I saw the very strong resistance at the 1422 area and a need to pullback on the 60min neg divergence. So JTraders short would probably be good. It just takes some time with the CCI seems to me.

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    Replies
    1. DanielNovember 29, 2012 at 4:04 PM

      No Lana, because you don't post much, that's why the comment was misunderstood. The more you post, the more naturally you'll see and sense how it differs from conversational speech, where interaction and feedback allows us to wave a hand, get attn, and clarify a misundertanding on the spot.

      The more you post, it will change the way you write, subtly, and you'll present the same info... but harder to misunderstand. A good example is right here on this blog, in Algyros.

      Delete
  12. LanaNovember 29, 2012 at 3:25 PM

    Also daily topping candles everywhere.

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  13. JamesNovember 29, 2012 at 3:31 PM

    JTS going short today...

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  14. testy99November 29, 2012 at 5:06 PM

    Still think we are about 1-3 days early to short but it's certainly a better entry point when all systems agree on the short.

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    Replies
    1. testy99November 29, 2012 at 5:06 PM

      But when all systems agree, that's what triggers me to look closer at what it's saying, so thank you for that.

      Delete

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