Unique swing trading signals and stock market commentary.
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
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.
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.
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.
doubled down @ 10.31 on TZA!
ReplyDeletethanks
ReplyDeleteNice 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.
ReplyDeleteSounds like a good plan, JKH.
DeleteI'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:
ReplyDeletehttp://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.
Will investigate. Thx!
DeleteJ i feel spy will close above 153.00 so i didn,t put my last lot waiting reversal candle
ReplyDeletethis is painful
ReplyDeleteIf 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.
ReplyDeleteNot going to happen, too many sheeple buying any dips...
DeleteAlthough, holding over a long week-end might make some sell... If that happens, Fed will buy it up...
Jts probably wont. Cci probably will. So depends if you're following 100% sigs or jts.
DeleteThat would be 151.52 obviously..
ReplyDeleteSaved by Walmart? :)
ReplyDeleteLet me fire up the systems...
This could be the beginning of the selloff everyone's been waiting for
ReplyDeleteNot likely...
DeleteThey don't want a down market into a long holiday week-end.
CCI is flirting with a cover signal, but JTS will likely remain short.
ReplyDeleteGonna need a 2%+ sell-off to break even here...
ReplyDeleteNot looking good, so go with the flow and lets go long!
Not yet. I do like the fact you are wanting to throw in the towel, from a sentiment POV.
DeleteSPX 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.
ReplyDelete