Thursday, May 23, 2013

Holding

All systems remain short.  Both were giving a buy signal this morning.  Kinda wish I had sold my TZA this morning and rebought on the gap fill.  Had a feeling it would fill.  Looks like a bear flag now on the 15 min chart, so normally one would expect more weakness ahead.  But this cocaine laced rally has me brainwashed into believing it will be up, up, and more up from here.  Let's hope not... see ya tomorrow.
J

12 comments:

  1. Yeah, me too. Was closer to even at open than now.

    Thanks J, lets see what happens tomorrow (it will be up - holiday week-end)..

    BTW, who cares about the Nikkei

    ReplyDelete
  2. At least we're getting some volatility to work with

    ReplyDelete
    Replies
    1. volatility, smolatility... who cares if the market goes back up...

      Delete
  3. Today's market numbers are somewhat deceptive. SPY, for example, lost 0.28%. BUT from open to close, it GAINED 0.79%. What a herculean effort! I do believe this is the number that matters. Other major indices will undoubtedly show similar results. Yet, in deference to the J-System, my current allocation still has a short bias. 71% cash, 29% TZA. Cheers.

    ReplyDelete
    Replies
    1. Good point, but how much longer can they keep it up?

      Also, thoughts on why the bond market is going down so much? Is all that money going to go into equities? If so, we could see DJIA of 17k next week...

      Delete
  4. Anyone know why, it seems, every day at 7am the futures get bought?

    Look, 7am (ok, sometimes its 7:30) starts the buying...

    Thoughts?

    ReplyDelete
  5. 10:15am Fri: JTS - strong buy signal, CCI buy signal. JT Comp going 100% long XIV if we closed around these levels.

    ReplyDelete
    Replies
    1. Except with low volume, the dip buyers are going to win out the day with the gap filled (or mostly filled).

      If we closed even, where does that leave the signals?

      Delete
    2. Wow, that would be a big loss to take, hope the signals stay short

      Delete
    3. Close... I think the CCI is going long.... JTS will probably stay short. That means it's headed back to cash. :-/

      Delete