Wednesday, September 21, 2011

Hold confirmed.

Well, my game plan for fed day was about as backwards as it gets. I am neither short nor long at this point. I'm back to holding cash - along with my system. We'll see how the market digests the fed announcement overnight. If I had to guess, I'd say tomorrow will be green.
Posted by at

8 comments:

  1. RealMoneyIssuesSeptember 21, 2011 at 3:44 PM

    Green, really...

    Why, might I ask?

    ReplyDelete
  2. JoeSeptember 21, 2011 at 3:56 PM

    Michelle....Where are we going???

    ReplyDelete
  3. RealMoneyIssuesSeptember 21, 2011 at 4:04 PM

    J, I know you commented on it before, buy why is your system refusing to go short? There was a potential 11% gain lost today.

    Now, I am sure there may be more... then again, maybe not, but I am really wanting to recover from my nearly 30% loss over the last 2 months and a 50% share of a 11% gain would have been nice...

    Just asking...

    ReplyDelete
  4. JamesSeptember 21, 2011 at 4:27 PM

    I hear ya. The best answer I can give is that I don't know. The other answer is that my system is not perfect.

    ReplyDelete
  5. RealMoneyIssuesSeptember 21, 2011 at 5:00 PM

    J, no system can be perfect. Is there any indication in your system why it doesn't provide a short signal in this market.

    I understand that this market isn't "typical" and everyone and their systems are struggling...

    I don't have a system and I am leaching off of your goodness, I am not complaining, just curious.

    Thanks for helping us all with your hard work!!!

    ReplyDelete
  6. MicheleSeptember 21, 2011 at 5:11 PM

    "Michelle....Where are we going??? "

    Well, TNA's big dump today took it right back to long term support and almost to its lower Bollinger band.

    With its indicators all now considerably more oversold than overbought, my best guess is that there's more upside potential for Thursday than downside risk.

    I'm liking a long entry anywhere between 36.50 and 36.00, but you can't really go badly wrong getting in now. I'm not calling the exact bottom and my comments are for a swing trade.

    Disclaimer: with the VIX pushing 40 again, all it will take is one bad news story about a French bank or Greek anything to send us lower Thursday.

    I'll revisit this in my blog post later tonight. (http://nightowltrader.blogspot.com)

    ReplyDelete
  7. Wu Di Capital, LLCSeptember 21, 2011 at 9:13 PM

    Meh I actually think J's system is brilliant. Plenty of great traders are getting their fingers cut off right now. Especially if you are trading 3x etf's, now it's not the time to try to get rich quick. I'm still in cash from late July LOL. If i had subscribers, they would be bored out of their minds.

    ReplyDelete
  8. RealMoneyIssuesSeptember 22, 2011 at 7:23 AM

    TZA trading pre-market at $55

    Now wish I would have kept my shares instead of selling at 44.60 to cover my assets.... :(

    ReplyDelete

Subscribe to: Post Comments (Atom)