bmneveu's Account Talk

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bmneveu said:
Is this a dead cat bounce that I need to get out on, or the beginning of another strong rally? Hmmm
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If I had to venture a guess I would have to go with the "dead cat bounce" idea. But I'm hoping for an extened rally. Not those 2-3% days but the ones that will get you 2-3% over a weeks time.
 
Wow, about 90% of the IFTs this morning are increasing their exposure to the market. If that's not good sentiment, I don't know what is!
 
Yeah, assuming we're still the dumb money. :blink: It may be a mix.

Coolhand's sentiment charts show all users, and another with just the top accounts and where they are putting their money. Whether the top is the smart money - or they just happen to be "hot" - could be reason enough to follow along.

The bottom, or those just currently out of sync with the market (and I have been in this categary many times) can be used as a contrarian indicator.

We all have those times where everything we do seems right, and other times when we can't pick the winner of a one horse race. Knowing where you are at that moment can tell how much to trust your instincts. But as I said, the ones near the top or the ones rising, are people who are in sync and I would consider the smart money, at least at that moment.
 
I was so worried that yesterday was just a small bounce on the way down -- today really put that assumption to rest. I'm bullish as usual even in such volatility. That said, I may look for an exit soon to lock in gains and jump in on another dip. Skipping the Mon/Tues dip of this week would have been huge, if anyone managed to pull that off!
 
I'm getting out tomorrow if its an up day. Remember the constant down days leading up to the day the national debt deal was signed? I can see that happening with this "super committee".
 
Well I watched the minutes tick by to the deadline this morning and never got out. I've been having trouble pulling the trigger lately. I'm also kicking myself for selling oil at $92~ (bought at $82~) and watching it tick up day by day to a high of $98 so far. I'm considering a short sell on it now but am inexperienced and wondering if anyone knows if seasonality is a factor?

I'm also quasi-forced to down a whole bottle of Korbel because my fiance didnt care for it after one sip. that's hardly a complaint though :)
 
Does anyone here trade TNA/TZA and/or day trade regularly? I've been thinking about getting in to that. Looks to be a pretty profitable route with such high volatility.
 
bmneveu said:
Does anyone here trade TNA/TZA and/or day trade regularly? I've been thinking about getting in to that. Looks to be a pretty profitable route with such high volatility.
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It can be profitable, but you better be on the right side of the trade with those 3x leveraged ETFs... I have been on the wrong side quite a few times...

Be
Very
Careful
 
I trade TNA / TZA pretty regularly. Because of the way they are set up, they are NOT good for any kind of buy and hold strategy, but can be useful for short-term trades.
 
I'll be getting out if we stay near 12,200 at midday, 100% S to 100% G. Looks like a resistance point right around there. I can see a little pull back / profit taking for the market coming up and then I'll be looking to jump back in a week or so.
 
I'll be going looooong on any weakness this week. I'm feeling a decent pullback early to mid week which i'll buy and ride for a bit. I'd like to stay in through january but i may just run with some profits.
 
i said yesterday that i'd buy weakness this week and i still plan to, but i dont see today being the low of the week. if tomorrow we're lower than or around 11900 (about -120 from today's close) i'll jump in. i'll probably keep that target for wednesday as well. i dont remember the price that i got out at -- i should start keeping track of that..

anyone follow the NBA? im a diehard orlando magic fan, which makes me a diehard dwight howard fan. this organization will fall apart if he leaves us like shaq did. between that, PCSing to Georgia tomorrow and planning a January 14th wedding, my stress level has never been higher. I could use a few successful trades to calm me :)
 
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