Thursday, February 14, 2013

Holding.

The melt up continues, especially and unfortunately with small caps. One glimmer of hope is that the JTS is firing off a fresh short signal today. Perhaps tomorrow will be more kind to the bears. We'll see. Good luck all. J

19 comments:

  1. Nice gap fade play today... once again, I'm hedged w/longs overnight. Though the risk of a 'gap down and go down" day tomorrow is much higher, and, as a result, I won't play the fade if the gap is down -- but i will buy the close if we close down hard. If we gap up open (most likely) I will exit this hedge and go back to my swing shorts w/you, J.

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  2. I've found that some of my greatest trading mistakes happen when I sell just because markets have gone up (or down) "too much, too fast." Food for thought. Two links:
    http://joefahmy.com/2013/02/14/please-stop-with-the-nonsense/
    http://www.tradingmarkets.com/stocks/commentary/the-only-5-trading-days-that-matter-1580815.html
    J, could could situations like those mentioned in these articles provide a bias to tip the scales when your system is uncertain? Appreciate all your good work and level-headed comments.

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  3. J i feel spy will close above 153.00 so i didn,t put my last lot waiting reversal candle

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  4. If SPY can manage to close below 150.52 we get a nice bearish engulfing candle.. J please tell me we're not going to have to cover.

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    Replies
    1. Not going to happen, too many sheeple buying any dips...

      Although, holding over a long week-end might make some sell... If that happens, Fed will buy it up...

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    2. Jts probably wont. Cci probably will. So depends if you're following 100% sigs or jts.

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  5. That would be 151.52 obviously..

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  6. Saved by Walmart? :)

    Let me fire up the systems...

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  7. This could be the beginning of the selloff everyone's been waiting for

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    Replies
    1. Not likely...

      They don't want a down market into a long holiday week-end.

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  8. CCI is flirting with a cover signal, but JTS will likely remain short.

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  9. Gonna need a 2%+ sell-off to break even here...

    Not looking good, so go with the flow and lets go long!

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    Replies
    1. Not yet. I do like the fact you are wanting to throw in the towel, from a sentiment POV.

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  10. SPX SPY IWM well above the 20MA. IWM on track to complete 6 days of higher lows despite afternoon plunge. The computers continue their buying. Relax and enjoy the weekend.

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