bmneveu's Account Talk

[bmneveu]

Anyone notice this?

Here are the moves..
First leg up goes from 1204 to 1423 for a gain of 219 points. (17%)
First leg down goes from 1423 to 1266 for a loss of 157 points. (-11%)
Second leg up goes from 1266 to 1475 for a gain of 209 points. (16.5%)
Second leg down goes from 1475 to 1340 for a loss of 135 points. (-9%)
Third leg up goes from 1340 to 1598 for a gain of 258 points. (19%)
Third leg down goes from 1598 to ____?

At that pace, a 12% correction over about 2 months would make sense. From 1598, that would be 192 points, bringing us down to a bottom of 1406 sometime in June.

 

[Birchtree]

This consolidation is likely going to be over before anyone can blink - any lateral move is simply building our base for the next move higher.

 

[RealMoneyIssues]

This consolidation is likely going to be over before anyone can blink - any lateral move is simply building our base for the next move higher.

Of course, because the market can never go down... :suspicious:

 

[Birchtree]

We all want the market to go down some as a natural occurrence of investing but with all the liquidity and more liquidity it ain't gonna happen. The Japanese will be in the market early tomorrow to set the stage - watch the shorts cover their pajammas.

 

[bmneveu]

100F today

 

[RealMoneyIssues]

100F today

????

Why?

 

[bmneveu]

100F today

????

Why?

Volume had been much higher on down days lately. I think we're going lower from here, maybe chop sideways at best for a bit. Seasonality, volatility, HO, and the chart I posted yesterday all add up to bad news. I'm looking for a lower entry price until something changes my mind, lol.

 

[bmneveu]

Bought TZA near the close at $38.64. Still 100% F in TSP.

 

[bmneveu]

Bought TZA near the close at $38.64. Still 100% F in TSP.

Doubled down on TZA after the close. DCA'd down. Shorting at the top hopefully...

 

[bmneveu]

Doubled down on TZA after the close. DCA'd down. Shorting at the top hopefully...

Sold TZA @ $38.68. Gained 6.25% today and about 3% overall on the position.

Edit: Trading account is at +7.27% YTD.

 

[bmneveu]

The wife picked up Stock Market Wizards (2003 edition) and Hedge Fund Market Wizards (2012) by Jack D. Schwager for me today. I read his first "Wizards" book from way back when and loved it. I might end up getting all of his books.

 

[bmneveu]

Bought TZA at 34.74!

 

[bmneveu]

The blackjack table at The Mirage generously purchased 1 Troy Ounce of .999+ Silver for me from the world famous Gold & Silver PawnShop (Pawn Stars). It's more of a novelty than an investment really. They sell at like 8 bucks over spot price there. Trying to post a pic from iPhone, lets see how this comes out...

 

[MaStA]

The blackjack table at The Mirage generously purchased 1 Troy Ounce of .999+ Silver for me from the world famous Gold & Silver PawnShop (Pawn Stars). It's more of a novelty than an investment really. They sell at like 8 bucks over spot price there. Trying to post a pic from iPhone, lets see how this comes out...

Nice! So how long do you have to wait to get into that store? I think I saw on one episode a line out of the door.

 

[ILoveTDs]

The blackjack table at The Mirage generously purchased 1 Troy Ounce of .999+ Silver for me from the world famous Gold & Silver PawnShop (Pawn Stars). It's more of a novelty than an investment really. They sell at like 8 bucks over spot price there. Trying to post a pic from iPhone, lets see how this comes out...

8 bucks above spot!!!!!!!!!!!!!!! Damn well better be a novelty item

 

[bmneveu]

Yea they buy $1 below spot and sell $8 above. Gotta pay that rent I guess.

We got a free parking spot in their lot and walked right in no problem. About 10 minutes after we got there they announced that they would be filming soon and needed everyone to leave. The filming takes about an hour and that's when the line gets going out the front door. I tried to get in that shoot as extras with my wife but they already had enough.

Something I saw that really stood out to me was a circa 1500 a.d. bible priced at a few thousand dollars (somewhere between $3k and $6k, can't remember). I figured something like that would be closer to six figures.

 

[bmneveu]

What better time to short than at the top?

 

[tsptalk]

Indeed!

 

[RealMoneyIssues]

What better time to short than at the top?

Um, which top?

 

[Birchtree]

There is no over head resistance - money is flowing like bull tinky. We just experienced day four of a 25-30 day bull run.